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Let’s talk about gaslighting and fundraising

“Most of the startups I give advice to about how to raise venture capital shouldn’t be raising venture capital,” an investor recently told me. While the idea that every startup isn’t venture-backable might run counter to the narrative to the barrage of funding news each week, I think it’s important to double click on the topic. Plus, it keeps coming up, off the record, on phone calls with investors! As venture grows as an asset class, the access to capital has broadened from a dollar perspective...
Tags: Startups, TC, Marketplace, Tech, Austin, New Jersey, Fundraising, Healthcare, Venture Capital, Treasury, EC, Taylor, Equity, Fintech, Coinbase, Affirm


Walnut wants to crack open flexibility for healthcare bills

Healthcare insurance, if you’re lucky to have it, only covers a subset of conditions in the United States. As a result, patients can often get burdened with horror story charges, like huge deductibles, out-of-network costs and expensive co-pays. So for the uninsured and insured alike, innovative ways of managing big bills are in high demand — especially as uncertainty remains around how COVID-19 and long-haul symptoms will be handled by patients and payers. Walnut, founded by Roshan Patel, is a...
Tags: Health, Startups, TC, Texas, NFL, Tech, United States, Healthcare, East Coast, Fintech, Health Tech, Affirm, Giphy, Cto, Klarna, Walnut


As BNPL startups raise, a look at Klarna, Affirm and Afterpay earnings

As the e-commerce market grows, startups are racing to help online retailers sell larger items to consumers with so-called “buy-now-pay-later” options. Via BNPL, consumers turn a one-time purchase into a limited string of regular payments. Terms vary, but the space is very active. TechCrunch covered Scalapay’s January $48 million round, what the Italian BNPL described as a seed round. Also this year, we’ve seen France’s Alma raise a $59.4 million Series B for its BNPL efforts. And I recently cov...
Tags: Fundings & Exits, Startups, TC, Sweden, Australia, France, Finance, Tech, United States, Affirm, Klarna, Alma, The Exchange, Afterpay, BNPL, Buy Now Pay Later


Wisetack raises $19M as its buy-now-pay-later service for IRL services scales

This morning Wisetack, a startup that provides buy-now-pay-later services to in-person business transactions, announced that is has closed a total of $19 million across two rounds, a seed investment and a Series A. Greylock led both rounds, with the seed round clocking in at $4 million and the Series A at $15 million. Bain Capital Ventures also took part in the company’s fundraising. Notably both rounds were closed in 2019, making these amongst the more aged rounds that we’ve heard of in recent ...
Tags: Fundings & Exits, Startups, TC, Tech, Affirm, Greylock, Bain Capital Ventures, BNPL, Wisetack


Self-proclaimed crypto skeptic Max Levchin says Affirm may have to consider cryptocurrencies if Bitcoin's popularity continues to grow

Max Levchin, founder and CEO of Affirm. Getty Crypto skeptic Max Levchin says Affirm may have to consider cryptocurrencies as a payment option as Bitcoin soars to all-time highs. Fintechs and incumbents alike, including Mastercard, Visa, and PayPal, are leaning into crypto. "I think at some point, skeptic or not, you have to listen to the market," Levchin said in an earnings-day interview with CNBC. Visit the Business section of Insider for more stories. It seems everyone in payments is wa...
Tags: Finance, Trends, Tesla, Paypal, Bitcoin, Payments, Max Levchin, Fintech, Cnbc, Affirm, Mastercard, Litecoin, Levchin, Mastercard Visa, Tech Insider, Shannen Balogh


Fintechs could see $100 billion of liquidity in 2021

Jake Jolis Contributor Share on Twitter Jake Jolis is a partner at Matrix Partners and invests in seed and Series A technology companies including marketplaces and software. More posts by this contributor 4-year founder vesting is dead 2019 saw a stampede of fintech unicorns Dana Stalder Contributor Share on Twitter D...
Tags: Startups, Ecommerce, Column, Finance, Tech, Paypal, Venture Capital, Payments, Plaid, Fintech, Shopify, Affirm, Matrix Partners, Klarna, Index, Dana Stalder


Hot IPOs hang onto gains as investors keep betting on tech

This morning, while checking the latest price for shares of recent IPO Poshmark, I noticed that they were down from their first-day results. The company’s pricing was more than strong, and its first trading results were nearly comical. After , Poshmark sold shares in its IPO at $42 apiece. Then it opened at $97.50. Such was the exuberance of the stock market regarding the the used goods marketplace’s debut. But today it’s worth a more modest $76.30 — for this piece we’re using all Yahoo Fi...
Tags: Fundings & Exits, Startups, TC, Ipo, Tech, Affirm, Lemonade, Jfrog, Unity, Yahoo Finance, The Exchange, IPO Poshmark


A theory about the current IPO market

As expected, shares of Poshmark exploded this morning, blasting over 130% higher in afternoon trading from the company’s above-range IPO price of $42. The enormous and noisy debut of Poshmark comes a day after Affirm, another IPO, was treated similarly by the public markets. Both explosive debuts were preceded by huge December debuts from C3.ai, Doordash and Airbnb. It seems today that any venture-backed company that can claim some sort of tech mantle is being treated to a strong IPO pricing run...
Tags: Fundings & Exits, Startups, Ipo, Tech, Affirm, Doordash, Poshmark


Poshmark prices IPO above range as public markets continue to YOLO startups

Here we are again. Again. Yes, it’s another morning in which we have to discuss a venture-backed technology company going public at a price above its IPO range. This time it’s Poshmark, which priced its IPO at $42 per share last night, comfortably ahead of that already greatly boosted the company’s valuation. The consumer-to-consumer used fashion marketplace sold 6.6 million shares at its IPO price, raising a gross $277.2 million before other possible shares are sold. The Exchange explores st...
Tags: TC, Ecommerce, Tech, Affirm, Exchange, Poshmark, The Exchange


Affirm extends its 2-day post-IPO surge to 160%

Affirm Affirm continued its post-IPO winning streak on Thursday. The stock has now surged as much as 160% in just two days of public trading. The online installment loan provider recently , selling 24.6 million shares for $49 each. Since Affirm's founding, more than 6 million consumers have used the online lender to pay overtime. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Affirm extended its two-day post-IPO streak on Thursday as shares surged 31% at intrad...
Tags: Trends, Markets, Peter Thiel, SEC, Stocks, Stock Market, Nasdaq, Max Levchin, Affirm, Movers, Spark Capital, GIC, Levchin, Tech Stocks, Mover, Stock Mover


Affirm skyrockets 110% in first day of trading after $1.2 billion IPO

Affirm CEO Max Levchin Affirm Affirm soared as much as 110% on Wednesday after the company's shares began trading hands publicly for the first time.The loan provider , selling 24.6 million shares for $49 each.Affirm's leap extends the trend of massive investor demand for IPOs. The craze emerged in December after Airbnb and DoorDash surged in their market debuts.Affirm trades under the ticker "AFRM" on the Nasdaq exchange.Sign up here our daily newsletter, 10 Things Before the Opening Bell....
Tags: Facebook, Ipo, US, Trends, Markets, IPOs, Paypal, Max Levchin, IPO market, Affirm, Initial Public Offering, Crunchbase, Trump, Petco, Peloton, Initial Public Offerings


Wall Street hugs Affirm as it starts life as a public company

And we’re off to the races! Last night, Affirm priced its IPO above its raised range at $49 per share, a sign that the public markets remain hungry for new listings. Provided that Affirm today trades similarly to how it priced, we could be looking at a 2021 IPO market that resembles last year’s heated results. The Exchange explores startups, markets and money. Read it every morning on Extra Crunch, or get The Exchange newsletter every Saturday. That’s good news for a host of companies looking ...
Tags: Fundings & Exits, Startups, Finance, Tech, Bumble, Affirm, The Exchange, Coinbase Roblox


Affirm prices IPO above expected range at $49 per share, raising $1.2 billion for the point-of-sale fintech firm

E-commerce installment lender. Virojt Changyencham/Getty Images Affirm priced its shares at $49 at the company's initial public offering on Tuesday. The offering is expected to raise $1.2 billion, giving the fintech installment lender a valuation close to $12 billion. Affirm lifted its price range on Monday to $41 to $44, from $33 to $38.  Affirm is set to trade on the Nasdaq Global Select Market under the ticker "AFRM." Sign up here for our daily newsletter, 10 Things Before the Opening B...
Tags: Ipo, US, San Francisco, Trends, Markets, Bloomberg, IPOs, Paypal, Nasdaq, Max Levchin, Goldman, Fintech, Affirm, Holdings Inc, Poshmark, Playtika


Affirm boosts its IPO price target, more than doubling its latest private valuation

This morning Affirm, the buy-now-pay-later financing startup, raised its IPO price range to $41 to $44 per share, up from a . The sharp repricing is steep in percentage terms, with the bottom end of Affirm’s range rising a little more than 24% and the top end gaining a smaller 16%. For Affirm, the news means a larger IPO fundraising haul and a confirmation from public investors that its model, its economics, its business performance and its relationship with Peloton are incredibly valuable. ...
Tags: TC, Tech, Affirm, Peloton, The Exchange


Affirm targets up to $38 per share in IPO, pushing its valuation above $9B

Today Affirm, a fintech startup that offers payment options to e-commerce customers, released a new S-1/A filing. The new document follows a late-December filing of a similar nature, though that update focused on changing the language of Affirm’s reported results, tweaking its language to remove some adjusted metrics, and hewing closer to generally accepted accounting principles, or GAAP. The company’s more recent filing details what could be its first IPO price interval, indicating that Affirm ...
Tags: TC, Tech, Bloomberg, Affirm


Nearly a dozen major tech firms can trace their roots to PayPal. From Palantir to Tesla, here are the companies launched by members of the 'PayPal Mafia.'

Peter Thiel, left, and Elon Musk. Associated Press Early employees of payments company PayPal went on to create nearly a dozen major tech startups after leaving the company. The PayPal Mafia, as its early employees came to be known, were directly responsible for Tesla, SpaceX, LinkedIn, Yelp, and more.  The latest company with PayPal roots to make a major splash is Palantir, the big data company that went public on the New York Stock Exchange in October.  Visit Business Insider's homepage ...
Tags: Google, Spacex, Elon Musk, Youtube, Ebay, US, Los Angeles, Trends, Linkedin, Tech, Tesla, Paypal, Features, Reid Hoffman, Peter Thiel, Silicon Valley


‘Buy Now, Pay Later’: An Innovative Lending Program Heading for a Cliff?

Calls grow for regulation of fintech-driven POS lending, but for some banks, a credit card variation could be at least a good defensive play. The post ‘Buy Now, Pay Later’: An Innovative Lending Program Heading for a Cliff? appeared first on The Financial Brand.
Tags: Credit Cards, Finance, Chase, Fintech, Affirm, Klarna, Digital Banking Strategies, Payments Strategies, Mobile Channel, Consumer Credit, Featured Content, Lending Strategies, BNPL, POS finance


Bumble reportedly filed confidentially for an IPO

Today Bumble, a popular dating-focused startup, was reported by Bloomberg to have filed IPO documents, albeit privately. The news that Bumble is pursuing an IPO is not a surprise. TechCrunch covered the story in September, noting the huge revenues that its rival Tinder has managed to accrete, possibly indicative of a sufficiently large market to support two public dating players. That Bumble has privately filed puts it, along with the crypto-focused Coinbase, as far along the IPO path before ...
Tags: TC, Ipo, Tech, Bloomberg, Airbnb, Bumble, Coinbase, Affirm, Hans Tung, Roblox, Roblox Affirm


The IPO market looks hot as Airbnb and C3.ai raise price targets

So much for a December slowdown — this morning, Airbnb and C3.ai raised their IPO price ranges and we got early pricing information from Upstart and Wish. This gives us a good amount of ground to cover. So, we’ll dig into Airbnb’s new price range first, working to understand how richly investors are valuing the American home-sharing unicorn. We’ll repeat the experiment with C3.ai, a company we find utterly fascinating. Then we’ll calculate valuation ranges for both Upstart, a consumer lending...
Tags: Fundings & Exits, Startups, TC, Tech, Airbnb, Affirm, Wish, Exchange, Exit, Doordash, Upstart, Roblox, The Exchange


PrimaHealth Credit offers a buy-now, pay-later lending service for elective procedures

The Newport Beach, Calif.-based healthcare lending service PrimaHealth Credit  is now pitching point-of-sale lending services for elective medical procedures. Taking the kinds of financial lending services that have been popularized by companies like Klarna and Affirm, PrimaHealth Credit is bringing them into elective surgical space for things like cataract surgery, orthodontic work, dental care, or LASIK. “For many dental, orthodontics, LASIK, and cataract surgery patients, our BNPL product ...
Tags: Personal Finance, TC, Florida, Texas, California, Tech, Ceo, Arizona, Oklahoma, Credit Score, Affirm, Klarna, Newport Beach Calif, Lasik, Orthodontics, PrimaHealth Credit


Helping big banks out-Affirm Affirm and out-Chime Chime, gives Amount a $681 million valuation

Amount, a new service that helps traditional banks compete in a digital world, has raised $81 million from none other than Goldman Sachs as it looks to help legacy fintech players compete with their more nimble digital counterparts. The company, which spun out from the startup lending company Avant Credit in January of this year, has already inked deals with Banco P opular, HSBC, Regions Bank and TD Bank to power their digital banking services and offer products like point-of-sale lendin...
Tags: TC, Money, Finance, Tech, Economy, Hsbc, Bank, Goldman Sachs, Vice President, Financial Services, Goldman, Affirm, Advisor, Klarna, Challenger Banks, Hughes


Extra Crunch roundup: A fistful of IPOs, Affirm’s Peloton problem, Zoom Apps and more

DoorDash, Affirm, Roblox, Airbnb, C3.ai and Wish all filed to go public in recent days, which means some venture capitalists are having the best week of their lives. Tech companies that go public capture our imagination because they are literal happy endings. An Initial Public Offering is the promised land for startup pilgrims who may wander the desert for years seeking product-market fit. After all, the “I” in “ISO” stands for “incentive.” A flurry of new S-1s in a single week forced me to r...
Tags: Fundings & Exits, Startups, TC, Gaming, Entrepreneurship, China, Ipo, India, San Francisco, Tech, ISO, NewCo, Alibaba, Venture Capital, Airbnb, Autodesk


A16z is now managing $16.5 billion, after announcing two new funds

Andreessen Horowitz (a16z) has closed a pair of funds totaling $4.5 billion, the firm confirmed in a blog post this morning. The firm has raised $1.3 billion for an early-stage fund focused on consumer, enterprise, and fintech; and closed a $3.2 billion growth-stage fund for later-stage investments. The firm did not immediately respond to request for comment. The funds may seem somewhat typical, given the size of new funds that venture firms have been raising in recent years, Still, these are e...
Tags: Fundings & Exits, TC, Microsoft, Ipo, San Francisco, Tech, Venture Capital, Fund, Airbnb, Andreessen Horowitz, New York Stock Exchange, Github, Justice Department, Affirm, Early Stage, Anthony Albanese


Inside Affirm’s IPO filing: A look at its economics, profits and revenue concentration

Last night Affirm filed to go public, herding yet another unicorn into the end-of-year IPO corral. The consumer installment lending service joins DoorDash and Airbnb in filing recently, as a number of highly valued, venture-backed private companies look to float while the public markets are more interested in growth than profits. TechCrunch took an initial dive into Affirm’s numbers yesterday, so if you need a broad overview, please head here. This morning we’re going deeper into the company’...
Tags: Fundings & Exits, Startups, TC, Ecommerce, Finance, Tech, Airbnb, Max Levchin, Twilio, Affirm, Peloton, The Exchange, Tiktok, COVID


Affirm just made its IPO filing public, providing the first detailed look inside the breakout 'buy now, pay later' fintech startup's finances

Affirm CEO Max Levchin. Drew Angerer/Getty Images Affirm, a fintech startup that enables consumers to pay for online purchases as they go, publicly revealed its initial public offering documents on Wednesday. The company reported a net annual loss of $125.8 million for its latest fiscal year, which ended in June, down 6% from 2019 — while its annual revenue nearly doubled year-over-year to $509.5 million. Affirm, founded and headed by PayPal alum Max Levchin, confidentially filed to go pub...
Tags: Finance, Ipo, Trends, Markets, Adidas, Paypal, Barclays, Max Levchin, Wall Street Journal, Fintech, Affirm, Business Insider, Levchin, Peloton, Tech Insider, Brooklinen


Affirm files to go public

Affirm, a consumer finance business founded by PayPal mafia member Max Levchin, filed to go public this afternoon. The company’s financial results show that Affirm, which doles out personalized loans on an installment basis to consumers at the point of sale, has an enticing combination of rapidly expanding revenues and slimming losses. Growth and a path to profitability has been a winning duo in 2020 as a number of unicorns with similar metrics have seen strong pricing in their debuts, and wi...
Tags: Fundings & Exits, Startups, Ipo, San Francisco, Tech, Paypal, Airbnb, Public, Max Levchin, S-1, Fintech, Affirm, Peloton, GMV


Khosla Ventures seeks $1.1 billion for its latest fund

Khosla Ventures, the eponymous venture firm helmed by longtime Silicon Valley rainmaker, Vinod Khosla, is raising  $1.1 billion for its latest venture fund, according to documents from the Securities and Exchange Commission. The filing was first spotted by Ari Levy over at CNBC. Khosla Ventures files to raise $1.1 billion fund. Some beach reading: https://t.co/eKXq92kDMP — Ari Levy (@levynews) October 14, 2020 Khosla, whose investing career began at Kleiner Perkins Caufield & Bye...
Tags: TC, Okta, Tech, Oscar, Silicon Valley, Stripe, Instacart, Cylance, Khosla, Affirm, Khosla Ventures, Kleiner Perkins, Vinod Khosla, John Doerr, Securities And Exchange Commission, Impossible Foods


Affirm files confidentially to go public

This afternoon Affirm, a startup focused on providing point-of-sale credit to consumers making online purchases, announced that it has filed to go public. The filing is confidential, so there’s little to be gleaned about the company’s performance from the news. That Affirm was exploring a public offering was reported by the Wall Street Journal back in July. In the aftermath of that news, TechCrunch tried to understand the valuation that Affirm was said to be targeting in its debut, which we p...
Tags: Fundings & Exits, TC, Finance, Tech, United States, SEC, Wall Street Journal, Affirm, Crunchbase, PitchBook


Big data company Palantir is now officially a public company — and it's one of nearly a dozen major tech firms that can trace its roots to PayPal

Peter Thiel, left, and Elon Musk. Associated Press Early employees of payments company PayPal went on to create nearly a dozen major tech startups after leaving the company. The PayPal Mafia, as its early employees came to be known, were directly responsible for Tesla, SpaceX, LinkedIn, Yelp, and more.  The latest company with PayPal roots to make a major splash is Palantir, the big data company that went public on the New York Stock Exchange this week.  Visit Business Insider's homepage f...
Tags: Google, Spacex, Elon Musk, Youtube, Ebay, US, Los Angeles, Trends, Linkedin, Tech, Tesla, Paypal, Features, Reid Hoffman, Peter Thiel, Silicon Valley


Gen Z, Millennials and COVID Fueling Rise in Hybrid Credit Card Alternatives

It's both a payment and lending challenge — banks must match fintechs' point of sale 'buy now, pay later' service or they'll lose share. The post Gen Z, Millennials and COVID Fueling Rise in Hybrid Credit Card Alternatives appeared first on The Financial Brand.
Tags: Finance, Fintech, Affirm, POS, Mastercard, Visa, Klarna, Digital Banking Strategies, Innovation Strategies, Payments Strategies, Featured Content, Lending Strategies, Coronavirus