Posts filtered by tags: Fundings & Exits[x]


 

Was Snowflake’s IPO mispriced or just misunderstood?

Welcome back to The TechCrunch Exchange, a weekly startups-and-markets newsletter. It’s broadly based on the daily column that appears on Extra Crunch , but free, and made for your weekend reading.  Ready? Let’s talk money, startups and spicy IPO rumors. Was Snowflake’s IPO mispriced or just misunderstood? With an ocean of neat stuff to get through below, we’ll be quick today on our thought bubble focused on Snowflake’s IPO. Up front it was a for the data-focused unicorn. At issue is ...
Tags: Fundings & Exits, Startups, Microsoft, Ipo, Tech, Snowflake, Berkshire, Cnbc, Shasta, Wix, Forbes, EBITDA, Roth, GAAP, Sumo, Jeff Richards


Unity Software has strong opening, gaining 31% after pricing above its raised range

Whoever said you can’t make money playing video games clearly hasn’t taken a look at Unity Software’s stock price. On its first official day of trading, the company rose more than 31%, opening at $75 per share before closing the day at $68.35. Unity’s share price gains came after last night’s pricing of the company’s stock at $52 per share, well above the range of $44 to $48 which was itself an upward revision of the company’s initial target. Games like “Pokémon GO” and “Iron Man VR” rely on the...
Tags: Fundings & Exits, Startups, TC, Mobile, Boston, Tech, Chicago, Pokemon, Palantir, Asana, Unity-technologies, Jfrog, Don, Unity, Jabal, Unity Software


Amid layoffs and allegations of fraud, the FBI has arrested NS8’s CEO following its $100+ million summer financing

The tagline from today’s announcement from the United States Attorney’s office for the Southern District of New York says it all: “Adam Rogas Allegedly Raised $123 Million from Investors Using Financial Statements that Showed Tens of Millions of Dollars of Revenue and Assets that Did Not Exist”. Rogas, the co-founder and former chief executive and chief financial officer and board member of the Las Vegas-based fraud prevention company, NS8, was arrested by the Federal Bureau of Investigation ...
Tags: Fundings & Exits, Startups, TC, Tech, Fbi, United States, Manhattan, Las Vegas, Doj, Lightspeed Venture Partners, Justice Department, Federal Bureau of Investigation, Securities And Exchange Commission, Lightspeed Ventures, Lightspeed, Forbes


Chime adds $485M at a $14.5B valuation, claims EBITDA profitability

In the midst of IPO week we have to add another name to our future debuts’ list, namely Chime, which announced a huge new round of capital today. The $485 million Series F values the consumer fintech giant at $14.5 billion, a huge figure given that Chime was most recently worth $5.8 billion after raising $700 million last December. Even more stark is the company’s $1.5 billion valuation set in early 2019. From $1.5 billion to $14.5 billion in less than two years is quite a run for any startup...
Tags: Fundings & Exits, Startups, TC, Finance, US, Tech, Atlantic, SaaS, Fintech, Cnbc, EBITDA, GAAP, Britt, Chime, Acorns, Dragoneer


It’s game on as Unity begins trading

Unity Software, which sells a game development toolkit primarily for mobile phone app developers, raised $1.3 billion in its initial public offering. The company, which will begin trading today with the ticker symbol “U,” priced its shares at the top end of its expected range, selling 25 million shares at $52 per share. The company’s final IPO price came in far ahead of what Unity initially anticipated. The company initially expected to price its public offering between $34 and $42 per share, la...
Tags: Google, Fundings & Exits, Startups, TC, Microsoft, Tech, Epic, Autodesk, Initial Public Offering, Zscaler, Unity-technologies, Maya, SVP, Unity, Epic and Unity, Unity Software


In its 4th revision to the SEC, Palantir tries to explain what the hell is going on

For a company vaunted for its clandestine government work and strong engineering culture, you can’t help but wonder if the government’s bureaucratic norms and paperwork pushing are starting to flood into the Shire. When most companies go public, they file a Form S-1 with the SEC, wait a few weeks through the investor road show, and then submit an amended filing with the final details of the offering before trading commences. Simple, easy, effective. No one wants to mess with the SEC, and so top ...
Tags: Travel, Fundings & Exits, Finance, Peter Thiel, SEC, Silicon Valley, Palantir, Palantir Technologies, Alex Karp, Board, Thiel, Stephen Cohen, SEC Palantir, Alex Karp Stephen Cohen, Shareholder Palantir


3 VCs discuss the state of SaaS investing in 2020

Yesterday during Disrupt 2020 I sat down with three investors who know the SaaS startup market very well, hoping to get my head around how hot things are today. Coming on the heels of the epic Snowflake IPO (more to come on that in this weekend’s newsletter), it was a great time for a chat. The Exchange explores startups, markets and money. Read it every morning on Extra Crunch, or get The Exchange newsletter every Saturday. I’ve boiled our 40-minute discussion down to my favorite parts, getti...
Tags: Travel, Fundings & Exits, Startups, Cloud, Events, SaaS, Snowflake, Bessemer, Canaan, The Exchange, Andressen Horowitz, David Ulevitch, Snowflake IPO, COVID-19, Mary D Onofrio, Maha Ibrahim Andreessen Horowitz


3 investors discuss the state of SaaS investing in 2020

Yesterday during Disrupt 2020 I sat down with three investors who know the SaaS startup market very well, hoping to get my head around how hot things are today. Coming on the heels of the epic Snowflake IPO (more to come on that in this weekend’s newsletter), it was a great time for a chat. The Exchange explores startups, markets and money. Read it every morning on Extra Crunch, or get The Exchange newsletter every Saturday. I’ve boiled our 40-minute discussion down to my favorite parts, getti...
Tags: Fundings & Exits, Startups, Cloud, Events, Tech, SaaS, Snowflake, Bessemer, Canaan, The Exchange, Andressen Horowitz, David Ulevitch, Snowflake IPO, COVID-19, Mary D Onofrio, Maha Ibrahim Andreessen Horowitz


Schools are closing their doors, but OpenDoor isn’t

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast (now on Twitter!), where we unpack the numbers behind the headlines. This week Natasha Mascarenhas, Danny Crichton and myself hosted a live taping at Disrupt for a digital reception. It was good fun, though of course we’re looking forward to bringing the live show back to the conference next year, vaccine allowing. Thankfully we had Chris Gates behind the scenes tweaking the dials, fitting us into the program, an...
Tags: Apple, Fundings & Exits, Startups, Tech, Equity, Snowflake, Greylock, Natasha, Desktop Metal, Opendoor, Equity podcast, Chainsmokers, Chris Gates, Natasha Mascarenhas Danny Crichton


Demand Sage raises $3M to make sales and marketing data more accessible

Demand Sage, a new startup from the founders of recently-acquired mobile analytics company Localytics, announced this morning that it has raised $3 million in seed funding led by Eniac Ventures and Underscore VC. When I spoke to CEO Raj Aggarwal, CTO Henry Cipolla and CPO Randy Dailey back in February, they outlined a vision to make it easier for marketers to get the data and insights they need, initially by automatically generating Google Sheets reports using data from HubSpot. More recently, D...
Tags: Google, Fundings & Exits, Startups, Advertising Tech, Funding, Tech, Eniac Ventures, Localytics, Google Sheets, Aggarwal, Randy Dailey, Demand Sage, Raj Aggarwal CTO Henry Cipolla


Which 5 cloud startup categories are the hottest?

Hello from the midst of Disrupt 2020: after this short piece for you I am wrapping my prep for a panel with investors from Bessemer, a16z and Canaan about the future of SaaS. Luckily, The Exchange this morning is on a very similar topic. The Exchange explores startups, markets and money. Read it every morning on Extra Crunch, or get The Exchange newsletter every Saturday. Today we’re parsing some data that Bessemer and Forbes shared regarding their yearly Cloud 100 list. It’s a grouping of pri...
Tags: Travel, Fundings & Exits, Startups, TC, Cloud, SaaS, Bessemer, Forbes, Canaan, The Exchange


Join Accel’s Andrew Braccia and Sonali De Rycker for a live Q&A on September 22 at 2 pm EDT/11 am PDT

In the midst of Disrupt 2020, we’re busy keeping tabs on all the panels, chats, demos and battling startups, but we’re also prepping for what comes next. Next Tuesday, the Extra Crunch Live series of Q&As with founders and investors resumes, this time with guests Andrew Braccia and Sonali De Rycker from Accel. If you are just catching up to Extra Crunch Live, we’ve been hosting live discussions since the early COVID-19 days here in the United States with folks like Mark Cuban, Plaid founder Zach...
Tags: Fundings & Exits, Startups, TC, Tech, United States, Venture Capital, Naspers, Andrew Braccia, Accel, Sequoia, Roelof Botha, Sonali De Rycker, Braccia, ECL, Zach Perret, De Rycker


Go public now while software valuations make no sense, Part II

On August 5th, TechCrunch wrote that startups should “go public while software valuations make no sense.” What came next was a happy coincidence. Just a few weeks after that post, Unity, JFrog, Asana, Snowflake and Sumo Logic all filed to go public. Today we’re seeing some data from those debuts, most notably . But even more, Snowflake just opened at either $245 or $269.50, depending on your data source. Regardless, the company’s stock is currently worth $276.2 per share, some 130% higher than ...
Tags: Fundings & Exits, Startups, Tech


Unity raises IPO price range after JFrog, Snowflake target steep debut valuations

On the heels of two IPOs pricing above raised ranges, Unity boosted the value of its own impending debut this morning. The well-known unicorn is currently set to begin trading this Friday, pricing after the bell Thursday. If that happens, the gaming platform company expects to be worth between $44 and $48 per share, up from its preceding $34 to $42 per-share IPO price range that it initially set. Unity raising its price range for its IPO is not a surprise, given that software companies have b...
Tags: Travel, Fundings & Exits, Startups, TC, Snowflake, Jfrog, Unity


JFrog and Snowflake’s aggressive IPO pricing point to strong demand for cloud shares

After raising their IPO price ranges, both JFrog and Snowflake priced above their refreshed intervals last night. At their final IPO prices, the two debuts are aggressively valued, showing continued optimism amongst public investors that cloud shares are an attractive bet, even if their growth is financed through a history of steep losses, as in the case of Snowflake . The Exchange explores startups, markets and money. Read it every morning on Extra Crunch, or get The Exchange newsletter e...
Tags: Travel, Fundings & Exits, Startups, TC, Ipo, Snowflake, Exchange, Jfrog, The Exchange


Kleiner prints gold with Desktop Metal, netting a roughly 10x return

Desktop Metal is one of the most interesting startups to come out of Boston in some time, with a technology designed to “print metal.” That’s a potentially huge expansion for the 3D printing market, where flexible polymers are the norm, a material that limits the kinds of products that these machines can produce. Little surprise then that the company caught the eye of a SPAC a few weeks ago and if all goes well, will begin publicly trading later this year. Desktop Metal going public in SPAC-le...
Tags: Fundings & Exits, TC, Finance, Boston, Tech, Venture Capital, SEC, Google Ventures, Kleiner Perkins, Nea, Koch Industries, Kleiner, SPAC, Lux, Northern Trust, Trine


What’s ahead in IPO land for JFrog, Snowflake, Sumo Logic and Unity

Welcome to Tuesday of TechCrunch Disrupt week. In a few hours, I’m hosting a panel about how startups can reach $100 million in annual recurring revenue (ARR) with the CEOs of Egnyte, GitLab and the President of Kaltura. It’s going to be a jam. Bring your questions! Right now, however, let’s talk about some bigger companies, namely all the unicorns that are going public this week. We can set aside Corsair Gaming, Palantir and Asana, as they debut next week. This morning let’s get settled on what...
Tags: Fundings & Exits, Startups, TC, Gaming, Cloud, Tech, SaaS, Snowflake, Asana, Exchange, Jfrog, Unity, Sumo Logic, The Exchange, JFrog Snowflake Sumo Logic and Unity, Egnyte GitLab


Klarna raises $650 million at a $10.6 billion valuation

Fintech startup Klarna has raised a mega-round of funding led by Silver Lake. The company is raising $650 million at a post-money valuation of $10.65 billion. Klarna says it is now the highest-valued private fintech company in Europe following today’s funding round. In addition to Silver Lake, GIC (Singapore’s sovereign wealth fund) and funds and accounts managed by BlackRock and HMI Capital are also participating in today’s funding round. Merian Chrysalis, TCV, Northzone and Bonnier have bou...
Tags: Travel, Amazon, Fundings & Exits, Startups, Ecommerce, Europe, Ralph Lauren, Fintech, Silver Lake, Blackrock, Klarna, Bonnier, Silver Lake GIC Singapore, HMI Capital, U S Klarna, Amazon Walmart Uber


Bank-as-a-service startup Swan helps other companies issue cards, accounts and IBANs

Meet Swan, a new French startup that wants to let other companies offer financial services by issuing cards, bank accounts and IBANs with just a few lines of codes. The company could be considered as a bank-as-a-service platform, like Treezor or solarisBank. Originally founded by startup studio eFounders, the startup just raised a $5.9M million (€5 million) seed round led by Creandum with Bpifrance’s Digital Venture fund also participating. Swan has obtained an e-money license from the French re...
Tags: Travel, Apple, Google, Fundings & Exits, Startups, Europe, Finance, Mastercard, Creandum, Swan, Bpifrance, Digital Venture


Homage announces strategic partnership with Infocom, one of Japan’s largest healthcare IT providers

Homage, a Singapore-based caregiving and telehealth company, has taken a major step in its global expansion plan. The startup announced today that it has received strategic investment from Infocom, the Japanese information and communications technology company that runs one of the largest healthcare IT businesses in the country. Infocom’s solutions are used by more than 13,000 healthcare facilities in Japan. During an interview with TechCrunch that will air as part of Disrupt tomorrow, Homage...
Tags: Fundings & Exits, Startups, TC, Asia, Japan, Southeast Asia, Singapore, Tech, Malaysia, Healthcare, Elderly, Caregiving, Seniors, Digital Health, Homage, Infocom


Indian e-commerce deals site CashKaro gets $10 million Series B led by Korea Investment Partners

CashKaro co-founders Rohan and Swati Bhargava CashKaro, one of the leading cashback and coupon sites in India, will expand its range of services for e-commerce after raising $10 million in Series B funding, the New Delhi-based startup announced today. The round was led by Korea Investment Partners, with participation from returning investor Kalaari Capital. TechCrunch last covered CashKaro five years ago when it raised a $3.8 million Series A. The latest round brings the company’s total fundi...
Tags: Amazon, Fundings & Exits, Startups, TC, Asia, India, Affiliate Marketing, Tech, E-commerce, New Delhi, Cashback, Flipkart, Social Commerce, Cashkaro, Rohan, Bhargava


As it heads for IPO, Palantir hires a chief accountant and gets approval from NYSE to trade

After 17 years, Palantir is getting closer and closer to its public debut later this month. We’ve been covering different facets of the company’s direct listing process including concerns about its governance and how insiders are accelerating the sale of their shares as the public markets date looms closer. Now, we have several major updates from the company, courtesy of a third amended filing of the company’s S-1 to the SEC this afternoon. The first news is that Palantir finally has a chief acc...
Tags: Fundings & Exits, Finance, Tech, Zynga, Peter Thiel, SEC, Palantir, Founders Fund, Nyse, Alex Karp, Company, Thiel, Jeffrey Buckley, IPO Palantir, Alex Karp Stephen Cohen, Karp Cohen


Snowflake and JFrog raise IPO ranges as tech markets stay hot

What market selloff? Despite last week’s market declines, two big IPOs are rolling ahead this week, with Snowflake and JFrog both boosting their IPO price ranges this morning. The jump in expected pricing means each IPO will likely raise more capital, valuing the firms more richly than their initial ranges made clear. Snowflake’s first IPO range valued it comfortably north of $24 billion and its IPO detailed that both Berkshire Hathaway and Salesforce Ventures were going to pour capital into ...
Tags: Fundings & Exits, Startups, TC, Ipo, Tech, Berkshire Hathaway, Snowflake, Salesforce Ventures, Jfrog


GoodRx offers founders $500M, nets $100M investment from Silver Lake, and makes quiet acquisition before IPO

GoodRx is a rare breed of modern tech IPO: a startup that is actually profitable and heading to the public markets. The consumer service offers coupons on prescriptions redeemable at pharmacies that can save customers significant money on their monthly drug prices. The company filed an amended S-1 with the SEC this morning, and that included three pieces of news that hadn’t previously been reported. First and most significantly, the company notes in its filing that it is offering its two co-f...
Tags: Fundings & Exits, Finance, Tech, SEC, Berkshire Hathaway, Warren Buffett, Berkshire, Silver Lake, Salesforce Ventures, Asheville North Carolina, Hirsch, Bezdek, Trevor Bezdek, GoodRx, Douglas Hirsch, IPO price Silver Lake


Get to the growth stage at TechCrunch Disrupt this week

Congratulations, you landed your Series A round. What’s next? Your Series B, and a lot of twists and turns. Yasmin Razavi of Spark Capital and Elliott Robinson of Bessemer are joining us at TechCrunch Disrupt 2020 (happening right now!) to talk about how early stage founders should think about landing growth stage venture capital money. Elliott Robinson is a partner in the San Francisco office where he focuses primarily on growth investments in SaaS and cloud companies. He co-authors Bessemer’s ...
Tags: Fundings & Exits, TC, Softbank, San Francisco, Tech, Bessemer, Mckinsey, Elliott, Robinson, Tcdisrupt, Razavi, Yasmin Razavi, Elliott Robinson, Disrupt 2020, Hinge Health Razavi, Snapchat Index Ventures


Sentinel loads up with $1.35M in the deepfake detection arms race

Estonia-based Sentinel, which is developing a detection platform for identifying synthesized media (aka deepfakes), has closed a $1.35 million seed round from some seasoned angle investors — including Jaan Tallinn (Skype), Taavet Hinrikus (Transferwise), Ragnar Sass & Martin Henk (Pipedrive) — and Baltics early stage VC firm, United Angels VC. The challenge of building tools to detect deepfakes has been likened to an arms race — most recently by tech giant Microsoft, which earlier this month lau...
Tags: Google, Fundings & Exits, TC, Facebook, Europe, UK, Media, Microsoft, Saudi Arabia, China, US, Tech, European Union, Joe Biden, Artificial Intelligence, Nato


As low-code startups continue to attract VC interest, what’s driving customer demand?

Investor interest in no-code, low-code apps and services advanced another step this morning with Airtable raising an outsized round. The $185 million investment into the popular database-and-spreadsheet service comes as it adds “new low-code and automation features,” per our own reporting. The round comes after we’ve seen several VCs describe no- and low-code startups as part of their core investing theses, and observed how the same investors appear to be accelerating their investing pace into u...
Tags: Fundings & Exits, Startups, TC, Mobile, Apps, Boston, Tech, Ibm, Siemens, No Code, The Exchange, Appian, Mendix, COVID-19, Derek Roos Mendix


Oracle boots out Microsoft and wins bid for TikTok, reports say

Enterprise provider Oracle is said to have won the bidding war for the U.S. operations of TikTok, a chase in which Microsoft was booted out earlier today. TikTok and Oracle did not immediately respond to TechCrunch for comment. The Wall Street Journal writes that Oracle will be announced as TikTok’s “trusted tech partner” in the United States. Additionally, the Journal cites that a person familiar with the matter says the deal is “likely not to be structured as an outright sale.” Oracle’s ...
Tags: Fundings & Exits, TC, Microsoft, India, Tech, Walmart, United States, Wall Street Journal, Oracle, Journal, Trump, Ron Miller, Twitter Google, Constellation Research, Holger Mueller, Bytedance


Is the vaunted cloud acceleration falling flat?

Welcome back to The TechCrunch Exchange , a weekly startups-and-markets newsletter. It’s broadly based on the daily column that appears on Extra Crunch , but free, and made for your weekend reading.  Ready? Let’s talk money, startups and spicy IPO rumors. Is the vaunted cloud acceleration falling flat? This week we’re taking a look at the bad side of the cloud software market. In case you were avoiding the news over the last week, tech and software stocks . Not much compared to t...
Tags: Fundings & Exits, Startups, Tech, Bank Of America, Chicago, Fintech, Palantir, Bessemer, Danny, Natasha, Canaan, Brent Bellm, Mark Mader, Smartsheet, The Exchange, Pierre Naudé


China may kill TikTok’s US operations rather than see them sold

The controversial push to force Chinese tech unicorn ByteDance to divest part or all of its smash-hit TikTok social media service to a U.S.-based company could be in doubt after a report today indicated that China’s government may oppose the transaction. According to reporting by Reuters, the Chinese government may prefer TikTok to simply shutter its U.S. operations instead of allowing it to be sold to an American company. The potential divestment of TikTok is not a regular business transacti...
Tags: Social, Fundings & Exits, Startups, Microsoft, China, India, US, Tech, United States, Donald Trump, Trump, Reuters, Tiktok, Microsoft Walmart