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SoftBank, Uber, Tencent set to reap rewards from Didi IPO

After years of speculation, Didi Chuxing, China’s ride-sharing behemoth, finally unveiled its IPO filing for the U.S., giving a glimpse into its money-losing history. Didi didn’t disclose the size of its raise. Reuters reported the company could raise around $10 billion at a valuation of close to $100 billion. Cheng Wei, Didi’s 38-year-old founder owns 7% of the company’s shares and controls 15.4% of its voting power before the IPO, according to the prospectus. Major shareholder SoftBank Vision ...
Tags: Transportation, Uber, Asia, China, Softbank, Funding, Tech, Automation, Transport, Tencent, Brazil, Robotics, Carsharing, Reuters, Robotaxi, Didi


Daily Crunch: With $639M funding found, Klarna is Europe’s highest-valued private fintech

To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. Hello and welcome to Daily Crunch for June 10, 2021. A short note from TechCrunch to start, namely that it’s the last few hours to get an early-bird pass to TC Early Stage 2021: Marketing & Fundraising, coming in early July. It’s going to be pretty much amazing, so get on that, early-stage founders. — Alex Final 2 days for early-bird savings to TC Early Stage 202...
Tags: Apple, TC, Europe, Balderton Capital, Texas, Microsoft, Indonesia, Softbank, Tech, Google Analytics, Alexis Ohanian, Cupertino, Serena Williams, Alex, Coinbase, Goodwater Capital


Fintech giant Klarna raises $639M at a $45.6B valuation amid ‘massive momentum’ in the US

Just over three months after its last funding round, European fintech giant Klarna is announcing today that it has raised another $639 million at a staggering post-money valuation of $45.6 billion. Rumors swirled in recent weeks that Klarna had raised more money at a valuation north of $40 billion. But the Swedish buy now, pay later behemoth and upstart bank declined to comment until now. SoftBank’s Vision Fund 2 led the latest round, which also included participation from existing ...
Tags: Europe, New York, France, Softbank, US, Los Angeles, Tech, Amsterdam, New Zealand, Fintech, Klarna, Los Gatos, Sebastian Siemiatkowski, Siemiatkowski, Klara, Vision Fund


AI startup Eightfold valued at $2.1B in SoftBank-led $220M funding

Eightfold AI, a startup which uses deep learning and artificial intelligence to help companies find, recruit and retain workers, said on Thursday it has raised $220 million in a new round as it looks to accelerate its growth. SoftBank Vision Fund 2 led the Series E round of the five-year-old startup, which is now valued at $2.1 billion, up from $1 billion in Series E last October, Eightfold AI founder and chief executive Ashutosh Garg told TechCrunch in an interview. Existing investors General C...
Tags: Softbank, Funding, Tech, SaaS, IVP, Lightspeed Venture Partners, General Catalyst, Foundation Capital, Garg, SoftBank Vision Fund, SoftBank Investment Advisers, Ashutosh Garg, SoftBank Vision Fund 2, Capital One Ventures, Google Garg


BukuWarung, a fintech for Indonesian MSMEs, scores $60M Series A led by Valar and Goodwater

BukuWarung, a fintech focused on Indonesia’s micro, small and medium enterprises (MSMEs), announced today it has raised a $60 million Series A. The oversubscribed round was led by Valar Ventures, marking the firm’s first investment in Indonesia, and Goodwater Capital. The Jakarta-based startup claims this is the largest Series A round ever raised by a startup focused on services for MSMEs. BukuWarung did not disclose its valuation, but sources tell TechCrunch it is estimated to be between $225 m...
Tags: Fundings & Exits, Startups, TC, Apps, Asia, Indonesia, Finance, Southeast Asia, India, Softbank, Tech, E-commerce, Jakarta, Valar Ventures, Indonesia Singapore, Gokul Rajaram


Sinch snaps up MessageMedia for $1.3B to compete with Twilio in business SMS services

  Sinch — the Swedish company that provides a suite of services for companies to build communications and specifically “customer engagement” into their services by way of APIs — has made yet another acquisition in its global march to scale up its business and compete more squarely with Twilio. The company today announced that it has acquired MessageMedia, a provider of SMS and other messaging services for businesses to manage customer relations, user authentication, alerts and more. The acquisit...
Tags: Mobile, Europe, Sweden, Enterprise, Messaging, India, Softbank, Tech, Sms, Mms, New Zealand, M&a, Sap, Twilio, Melbourne Australia, EBITDA


Whatfix nabs $90M to help workers onboard and get the most out of their IT stacks

“Digital transformation” has been on the mind of many an organization in the last year: the pandemic and the shift it’s brought to how we work are speeding up investments in new apps, infrastructure and work practices to improve productivity regardless of where we sit all day. Now, it looks like we’re on to the next stage of that journey: actually figuring out how to adopt and run with all that new tech. In a sign of the times, today a startup called Whatfix — which has built a platform that hel...
Tags: Europe, Enterprise, Softbank, Funding, Digital, Tech, Artificial Intelligence, San Jose, Bangalore, Digital Assistants, Cisco Investments, Kumar, Bausch Lomb, Chatbots, SoftBank Investment Advisers, WhatFix


Paytm, India’s most valuable startup, confirms plan for an IPO

Paytm, India’s most valuable startup, confirmed to its shareholders and employees on Monday that it plans to file for an IPO. In a letter to shareholders and employees, Paytm said that it plans to raise money by issuing fresh equity in the IPO, and also sell existing shareholders’ shares at the event. The startup has offered its employees the option to sell their stakes in the firm. This is the first time the Noida-headquartered firm, which has raised over $3 billion to date, has commented on it...
Tags: Google, TC, Asia, Finance, Ipo, India, Softbank, Tech, Alibaba, Zomato, Flipkart, UPI, TechCrunch, Paytm, Bernstein, Noida


China’s drive to compete against Starlink for the future of orbital internet

There has been a wave of businesses over the past several years hoping to offer broadband internet delivered from thousands of satellites in low-earth orbit (LEO), providing coverage of most of the earth’s surface. This isn’t the first time we’ve seen excitement in the category. Companies and people that you have heard of — Bill Gates and Motorola, to name a few — invested billions of dollars into this business model two decades ago in an adventure that ended in many bankruptcies and very few pe...
Tags: TC, Motorola, Asia, Space, Spacex, Elon Musk, Government, China, Softbank, Tech, Earth, United Kingdom, Bill Gates, Satellites, Jeff Bezos, Red Star


Daily Crunch: Facebook extends Trump’s suspension until January 2023

To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. Hello and welcome to Daily Crunch for June 4, 2021. What a week, yeah? That was four super-packed days. But don’t think that the pace of news is about to slow down. It’s not. Next week is Apple’s big WWDC developer event, which we previewed here. And TechCrunch’s next event focused on mobility is just around the corner. Here’s to catching up on sleep this weekend. ...
Tags: Apple, TC, Facebook, Softbank, Nigeria, Linkedin, Tech, Eu, Reid Hoffman, Brian, Toyota, Donald Trump, Shopify, Zuckerberg, Eric Eldon, Trump


Autonomous vehicle startup Aurora in final talks to merge with Reid Hoffman’s newest SPAC

Autonomous vehicle startup Aurora is close to finalizing a deal to merge with Reinvent Technology Partners Y, the newest special purpose acquisition company launched by LinkedIn co-founder and investor Reid Hoffman, Zynga founder Mark Pincus and managing partner Michael Thompson, according to several sources familiar with the talks. One of the sticking points is the targeted valuation, which had been as high as $20 billion. It is now closer to $12 billion and the deal is expected to be announced...
Tags: TC, Transportation, Uber, Softbank, Linkedin, Tech, Bloomberg, Automotive, Venture Capital, Reid Hoffman, Autonomous Vehicles, New York Stock Exchange, North America, Sequoia Capital, Volvo, Greylock Partners


SoftBank pours up to $150M into GBM, a Mexico City-based investment platform

Grupo Bursátil Mexicano (GBM) is a 35-year-old investment platform in the Mexican stock market. In its first three decades of life, GBM was focused on providing investment services to high net worth individuals and local and global institutions. Over the past decade, the Mexico City-based brokerage has ramped up its digital efforts, and, in the past five years, has evolved its business model to offer services to all Mexicans with the same products and services it offers large estates. Today, GBM...
Tags: Mexico, Softbank, US, Tech, Mexico City, Brazil, Latin America, Blackrock, Co, Montero, Franck, NETFLIX Google, National Banking and Securities Commission CNBV, Grupo Bursátil Mexicano GBM, Pedro de Garay Montero, Juan Franck


Joby Aviation targets parking garages for its aerial ridesharing network

Joby Aviation is partnering with one of the country’s largest parking garage operators and a real estate acquisition company to build out its network of vertiports, with an initial focus on Los Angeles, Miami, New York and the San Francisco Bay Area, the company said Wednesday. The partnership with REFF Technology and Neighborhood Property Group will give Joby “access to an unparalleled range of rooftop locations across all key metropolitan areas in the US, as well as a mechanism to fund the acq...
Tags: Transportation, Softbank, US, Tech, San Francisco Bay Area, Joby, NPG, Electric Aircraft, Los Angeles Miami New York, Electric aviation, Bevirt, Evtol, Joby Aviation, Urban Air Mobility, ParkJockey, JoeBen Bevirt


JOKR launches in New York with a different take on on-demand delivery

For years now, the world of retail has been evolving. Whether it’s next-day delivery with Amazon Prime or subscription D2C services or on-demand delivery from Postmates, we’re growing increasingly accustomed to being able to buy something and have it arrive at our door relatively quickly. Today, a new startup is launching in New York with a fresh take on on-demand delivery. JOKR, founded by Ralf Wenzel (the same guy who founded FoodPanda, which later merged with DeliveryHero) promises delivery i...
Tags: Startups, TC, Ecommerce, Apps, New York, Softbank, Tech, Mexico City, Postmates, Wenzel, Ralf Wenzel, JOKR, Latin America Brazil Lima


SoftBank-backed construction giant Katerra said to be shutting down after raising billions

After burning through more than $2 billion in funding, SoftBank-backed construction startup Katerra has told employees that it will be shutting down operations, according to a report in The Information. Last year, the company claimed it had more than 8,000 employees globally. Menlo Park-based Katerra had already been struggling to find a viable business in cheaply building apartments properties for real estate developers when it was pushed to the edge of bankruptcy late last year, with the compa...
Tags: TC, Softbank, Tech, Ceo, Companies, Vodafone, WeWork, Khosla Ventures, Dfj Growth, Greenoaks Capital, Menlo Park, Barron, Masayoshi Son, SoftBank Group, Vision Fund, Katerra


Kushki, an Ecuador-based fintech, raises $86M to build financial infrastructure in Latam

Just about every week there’s a blockbuster round coming out of South America, but in certain countries such as Ecuador, things have been more hush hush. However, Kushki , a Quito-based fintech, is bringing attention to the region with today’s announcement of a $86 million Series B and a $600 million valuation. “We never thought that we would return home [from the U.S.] and build a company that was more valuable in Ecuador than we had built in the U.S.,” said Aron Schwarzkopf, CEO and co-f...
Tags: Fundings & Exits, Startups, Mobile, Mexico, Finance, Boston, India, Softbank, Funding, Africa, Tech, Colombia, United States, Chile, Brazil, Peru


The Station: Rivian rolls towards an IPO and Quantumscape makes a big battery hire

The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every weekend in your inbox. Hello and welcome back to The Station, a weekly newsletter dedicated to all the ways people and packages move (today and in the future) from Point A to Point B. For my American readers, you might be traveling — perhaps for the first time in more than a year — because of the Memorial Day holiday. While Memorial Day is meant to honor members ...
Tags: Transportation, Asia, Twitter, Utah, Elon Musk, New York, Texas, Microsoft, Senate, White House, China, Ipo, Germany, Berlin, Softbank, America


Indian logistics giant Delhivery raises $277 million ahead of IPO

Delhivery, India’s largest independent e-commerce logistics startup, has raised $277 million in what is expected to be the final funding round before the firm files for an IPO later this year. In a regulatory filing, the Gurgaon-headquartered startup disclosed it had raised $277 million in a round led by Boston-headquartered investment firm Fidelity. Singapore’s sovereign wealth fund GIC, Abu Dhabi’s Chimera, and UK’s Baillie Gifford also participated in the new round, a name of which the startu...
Tags: Asia, UK, Ipo, Boston, India, Softbank, Funding, Tech, Fidelity, Logistics, Tiger Global, Tiger Global Management, Gurgaon, Steadview Capital, Baillie Gifford, Times Internet


Uber is draining its cash-burning Pool

Hello, and welcome to this week's edition of the Insider Tech newsletter, where we break down the biggest news in tech, including: Meet Gen Z's hot new appA former Microsoft board member speaks out Did someone forward this newsletter to you? Sign up here. Soundtrack: This week's newsletter has been specially designed to be consumed while listening to Dr. Lonnie Smith "Why can't we live together" (featuring Iggy Pop) After what seems like an eternity, I've recently started ...
Tags: Amazon, Startups, Transportation, Facebook, Uber, Europe, New York, Enterprise, Instagram, Microsoft, Softbank, Satya Nadella, Newsletter, Trends, Tech, Intel


The Hall of Fame of 'Benjamin burners': Meet the CEOs most famous for tanking their companies and losing millions - of other people's money

WeWork cofounder Adam Neumann. Fortune Brainstorm Scott Galloway is a bestselling author and professor of marketing at NYU Stern. The following is a recent blog post, republished with permission, that originally ran on his blog, "No Mercy / No Malice." In it, Galloway talks about famous CEOs, from Yahoo's Marissa Mayer to WeWork's Adam Neumann, who cost their companies millions. See more stories on Insider's business page. I've lost a lot of other people's money. The mo...
Tags: Google, Verizon, Microsoft, Yahoo, China, Softbank, Nokia, US, America, Trends, Alibaba, Steve Ballmer, Chrysler, Roku, Jeffrey Katzenberg, Tumblr


10 things in tech: Bezos' last day, new Nintendo Switch, Tesla tunnel

Jeff Bezos in 1997. Paul Souders/Getty Images Good morning and welcome to 10 Things in Tech. If this was forwarded to you, sign up here.A quick note: there will not be a newsletter on Memorial Day - Monday, May 31. Enjoy your long weekend; we'll see you on Tuesday.Now, let's get started.1. Jeff Bezos will step down as Amazon CEO on July 5. Bezos said the date was "sentimental" because it was when Amazon was incorporated in 1994. More on his departure - and what's next. 2. Elo...
Tags: Apple, Amazon, Hollywood, Softbank, America, Newsletter, Trends, Tech, Tesla, Connecticut, Nintendo, Las Vegas, Jeff Bezos, Republican, Electric, Justice Department


Brazilian proptech startup QuintoAndar lands $300M at a $4B valuation

Fintech and proptech are two sectors that are seeing exploding growth in Latin America, as financial services and real estate are two categories in particular dire need of innovation in a region. Brazil’s QuintoAndar, which has developed a real estate marketplace focused on rentals and sales, has seen impressive growth in recent years. And today, the São Paulo-based proptech has announced it has closed on $300 million in a Series E round of funding that values it at an impressive $4 billion. The...
Tags: Softbank, US, Tech, Brazil, Silicon Valley, Fintech, Latin America, Stanford University, Cto, Accel, Sao Paulo, Braga, Huber, Ribbit Capital, Nick Huber, Kevin Efrusy


Indoor farming company Bowery raises $300M

New York City-based vertical farming startup Bowery Farming this week has announced a $300 million Series C. The round, which brings its total funding north of $472 million, values the company at $2.3 billion. Fidelity Management & Research Company led the beefy round, with participation from existing investors GV (formerly Google Ventures), General Catalyst, GGV Capital, Temasek and Groupe Artémis. Amplo and Gaingels participated, as well, along with some celebrity individual investors, includi...
Tags: Food, Startups, Softbank, Funding, New York City, Tech, United States, Farming, Fidelity, Indoor Farming, Vertical Farming, Safeway, Bowery, Albertsons, Bethlehem Pennsylvania, GV


Sinch, a Swedish customer engagement giant, raises $1.1B, SoftBank and Temasek participating

Sinch — a Twilio competitor based out of Sweden that provides a suite of services to companies to build communications and specifically “customer engagement” into their services by way of APIs — has been on a steady funding and acquisitions march in the last several months to scale its business, and today comes the latest development on that front. The company has announced that it has raised another $1.1 billion in a direct share issue, with significant chunks of that funding coming from Temase...
Tags: Europe, Sweden, Enterprise, Finance, Messaging, Softbank, Funding, Tech, Facebook Messenger, Communications, APIs, Twilio, Temasek, SoftBank Group Corp, Werner, Oscar Werner


The LatAm funding boom continues as Kaszek raises $1B across a duo of funds

Long before SoftBank launched its $2 billion Innovation Fund in Latin America, and before Andreessen Horowitz began actively investing in the region, Sao Paulo-based Kaszek has been putting money into promising startups since 2011, helping spawn nine unicorns along the way. And now, the early-stage VC firm is announcing its largest fund closures to date: Kaszek Ventures V, a $475 million early-stage fund, believed to be the largest vehicle of its kind ever raised in the region, and Kaszek Ven...
Tags: Amazon, Fundings & Exits, Startups, TC, Business, Entrepreneurship, Mexico, China, Softbank, Funding, US, Startup, Tech, Ceo, Economy, Companies


Korea’s Riiid raises $175M from SoftBank to expand its AI-based learning platform to global markets

“AI is eating the world of education,” Riiid co-founder and CEO YJ Jang notes in his biographical description on his LinkedIn profile, and today his startup — which builds AI-based personalized learning, including test prep, for students — is announcing a major funding round to help it position itself as a player in that process. Seoul-based Riiid has closed a funding round of $175 million, an equity round coming from a single backer, SoftBank’s Vision Fund 2. The funding is coming at a high-wat...
Tags: TC, Japan, India, Softbank, Tech, Korea, Brazil, Jordan, Santa, Seoul, Latin America, Kaplan, Greg Moon, SoftBank Investment Advisers, YJ Jang, Riiid


Zeta becomes a unicorn with $250 million SoftBank-led funding

Zeta, a startup that helps banks and fintech firms launch products, is the newest to attain the coveted unicorn status after closing a new financing round. The banking tech firm, co-founded by veteran Indian entrepreneur Bhavin Turakhia, said on Monday it has raised $250 million in its Series D round led by SoftBank Vision Fund 2, confirming a TechCrunch report from mid-April. Existing investor Sodexo also participated in the round. The new round valued the startup, which has offices in Bangalor...
Tags: TC, Finance, India, Softbank, Funding, Tech, Dubai, Bangalore, Swiggy, Zeta, Sodexo, SoftBank Vision Fund, Bhavin Turakhia, Turakhia, Divyank, SoftBank Investment Advisers


Daily Crunch: India gives WhatsApp one week to revoke its updated privacy policy

To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. Happy Wednesday, friends! It was another super-busy day in the tech world. I had my sights on Squarespace’s public debut, as well as the value of Coinbase’s stock, which may be tracking the price of bitcoin a bit more literally than some folks expected. And if you are a long-term crypto holder, congrats on the buying opportunity. If you are a short-term crypto hold...
Tags: Apple, TC, Facebook, Microsoft, Massachusetts, India, Softbank, Newsletter, Tech, Whatsapp, Alex, Otter, Squarespace, Formlabs, Matthew Panzarino, Bessemer Venture Partners


Formlabs raises $150M

A massive raise for the 3D printing industry this morning, as Massachusetts-based Formlabs has announced a $150 million Series E. The round, led by Softbank’s Vision Fund 2, effectively doubles the value of the unicorn to $2 billion dollars. The news comes during a kind of resurgence as the once-beleaguered industry is seeing a massive uptick in interest – and funding. Of note, Desktop Metal, Shapeways, Velo3D and Markforged have all announced places to go public via SPAC. The company notes a re...
Tags: Hardware, Massachusetts, Softbank, Funding, Tech, 3d Printing, 3d Printer, Formlabs, Sla, SPAC, MIT Media Lab, MarkForged, Max Lobovsky, Vision Fund, SoftBank Vision Fund 2


10 things in tech you need to know today

Google's Project Starline is a video booth that enables lifelike video calls. Google Good morning and welcome to 10 Things in Tech. If this was forwarded to you, sign up here.Let's get started.1. Google showed off what it's describing as a "magic window" for lifelike video calls. At its annual I/O conference, Google unveiled Project Starline, a mix of hardware and software that uses 3D imaging and real-time compression to lend greater presence to video meetings. More on the emer...
Tags: Google, Amazon, Elon Musk, Softbank, Newsletter, Trends, Tech, Tesla, James Bond, Miami, MGM, Musk, Lamborghini, Portnoy, Newsletters, Bill Carr



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