Posts filtered by tags: Max Levchin[x]


 

Elon Musk is now the world's second-richest person. Here's how the billionaire Tesla and SpaceX CEO went from getting bullied as a child to becoming one of the most successful and controversial men in tech.

Elon Musk. Steve Nesius/Reuters Elon Musk has had a tumultuous yet successful life.  He was bullied as a child but ultimately attended an Ivy League university before going on to become the CEO of two companies, Tesla and SpaceX, and the founder of three more. He's also been married three times and has triplets and twins. He recently had another baby with his girlfriend, the musician Grimes.  But Musk also courts controversy, especially on Twitter. The tech billionaire has been outspoken a...
Tags: Transportation, Mark Zuckerberg, Spacex, Elon Musk, New York, Hollywood, Robert Downey Jr, Microsoft, Australia, California, Ebay, White House, Ipo, Time, US, Los Angeles


A top Goldman dealmaker is jumping ship — Affirm gears up for an IPO — Hedge fund pay

  Happy Saturday!Bankers have been plenty busy as they work on big tie-ups and look to get IPOs across the line before the end of the year.Here's a recap of some of the big news this week:PNC announced its planned purchase of BBVA US, the US-based arm of the Spanish lending giant BBVA, for $11.6 billion. Reed Alexander talked with insiders to learn more about how one of the biggest bank deals since the financial crisis came together. You can read the full story here. The buy now, pay later lende...
Tags: Google, Europe, Microsoft, US, Trends, Paypal, Getty Images, Michael Dell, Goldman Sachs, Seattle, Morgan Stanley, Max Levchin, Goldman, Fintech, ADP, Bbva


If you didn’t make $1B this week, you are not doing VC right

The only thing more rare than a unicorn is an exited unicorn. At TechCrunch, we cover a lot of startup financings, but we rarely get the opportunity to cover exits. This week was an exception though, as it was exitpalooza as Affirm, Roblox, Airbnb, and Wish all filed to go public. With DoorDash’s IPO filing last week, this is upwards of $100 billion in potential float heading to the public markets as we make our way to the end of a tumultuous 2020. All those exits raise a simple question – who m...
Tags: Ipo, Singapore, Tech, SEC, Airbnb, Max Levchin, Cto, GIC, Levchin, Tony Xu, Sheng, Joe Gebbia, Peter Szulczewski, Szulczewski, Roblox, Evan Moore


Biden's Treasury pick — Privacy concerns for on-demand pay — Legal-tech deals

Trader Peter Mancuso prepares for the day's trading, on the floor of the New York Stock Exchange, Thursday, March 5, 2020. (AP Photo/Richard Drew) Associated Press Happy Friday!It's been quite the week, which is often the case this time of year as people look to wrap things up before the holidays. However, one big bit of news could still be yet to come.President-elect Joe Biden told reporters he's made his pick for who he will nominate for Treasury secretary, adding that the decision wi...
Tags: Trends, Joe Biden, Gm, Treasury, Fidelity, New York Stock Exchange, Biden, Max Levchin, Costco, WSJ, Peloton, Perella Weinberg, Dan DeFrancesco, Shannen Balogh, Yoonji Han, Samantha Stokes


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


10 things in tech you need to know today

Karl Mondon/Digital First Media/The Mercury News via Getty Images Good morning! This is the tech news you need to know this Thursday. Sign up here to get this email in your inbox every morning.Have an Amazon Alexa device? Listen to this update by searching "Business Insider" in your flash briefing settings.And for the biggest stories in politics, sign up here for 10 Things in Politics You Need to Know Today — launching soon!Apple settled a lawsuit centered on iPhone throttling. The firm wi...
Tags: Apple, Google, Facebook, White House, Trends, Paypal, New York Times, Silicon Valley, Donald Trump, Max Levchin, Denver, Epic Games, Nordic, Trump, Tim Sweeney, Amazon Alexa


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


Public investors stay in love with tech, as Root and Affirm file to IPO

Editor’s note: Get this free weekly recap of TechCrunch news that any startup can use by email every Saturday morning (7 a.m. PT). Subscribe here. Why are there so many tech IPOs right now? Startups are finding that they can get higher valuations from public markets than private ones these days, because so many public investors want to put serious money in tech. Also, the lure of the future, the benevolence of the Fed, the retail investor boom, the sheer number of unicorns that have been waiting...
Tags: Apple, Google, Amazon, Startups, TC, Facebook, India, San Francisco, Tech, ExxonMobil, Paypal, Amsterdam, Reddit, Alexis Ohanian, Airbnb, EC


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


A meeting room of one’s own: three VCs discuss breaking out of big firms to start their own gigs

One of the more salient trends in the tech world — arguably the engine that propels it — has been the recurring theme of people who hone talents at bigger companies and then strike out on their own to found their own startups. (Some, like Max Levchin, even hire entrepreneurial types intentionally to help perpetuate this cycle and get more proactive teams in place.) It turns out that trend doesn’t just apply to companies, but also to the investors who back them. At Disrupt we talked with three ve...
Tags: US, Tech, Max Levchin, Nea, Grayson, Lo Toney, Toney, Rachel Holt, Lux Capital, Quintini, Dayna Grayson, Plexo Capital, Renegade Partners, Construct Capital Renata Quintini


X1 Card is a credit card based on your income, not your credit score

There are many reasons why you could have a good or a bad credit score. But if you’re just entering the job market, you may end up with reliable income and a low limit on your credit card. X1 Card wants to solve that by setting limits based on your current and future income instead of your credit score. The company says some customers can expect limits up to five times higher than what they would get from a traditional credit card. And that limit can move up if you get a promotion at your job fo...
Tags: Google, Startups, Finance, Paypal, Credit Card, Max Levchin, David Sacks, Fintech, Levchin, Deepak Rao, Thrive, Natasha Mascarenhas, X1 Card, David -LSB- Sacks, Twitter COO Adam Bain Craft Ventures


How billionaire Tesla and SpaceX CEO Elon Musk went from getting bullied as a child to becoming one of the most successful and controversial men in tech

Elon Musk. Steve Nesius/Reuters Elon Musk has had a tumultuous yet successful life.  He was bullied as a child but ultimately attended an Ivy League university before going on to become the CEO of two companies, Tesla and SpaceX, and the founder of three more. He's also been married three times and has triplets and twins. He just had another baby with his girlfriend, the musician Grimes.  But Musk also courts controversy, especially on Twitter. The tech billionaire has been outspoken about...
Tags: Transportation, Spacex, Elon Musk, New York, Hollywood, Robert Downey Jr, Microsoft, Australia, California, Ebay, White House, Ipo, Time, US, Los Angeles, San Francisco


From Facebook to Tesla, here are the lesser-known cofounders of some of the biggest tech companies in the world

Apple cofounders Steve Wozniak, left, and Steve Jobs. Kimberly White / REUTERS Most of the world's most famous tech entrepreneurs had help building their companies.And while Mark Zuckerberg's and Steve Job's cofounders didn't all become household names, they're still credited with bringing Facebook and Apple to life.Tesla, for instance, had four cofounders, and none of them was Elon Musk. And Jack Dorsey is one of four people who helped create Twitter.Visit Business Insider's homepage for m...
Tags: Apple, Google, Amazon, Facebook, Uber, Mark Zuckerberg, Twitter, Elon Musk, Instagram, Microsoft, Steve Jobs, Ebay, Stanford, Singapore, US, San Francisco


The Station: Luminar takes the SPAC path and Voyage lifts the hood on its next-gen robotaxi

The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every Saturday in your inbox. Hello and welcome back to The Station, a newsletter dedicated to all the present and future ways people and packages move from Point A to Point B. I’ll skip the typical wind up and get right to things this week. We’ve got SPACs, venture deals and micromobility news along with a peek at one AV company’s newest vehicle. I wanted to mention o...
Tags: Transportation, Elon Musk, Florida, California, Bono, Senate, China, Berlin, New York City, Sacramento, San Francisco, Linkedin, Tech, Tesla, Austin, Automotive


Visa just invested in a fintech that wants to eliminate checkout hardware, and it's a peek into the future of how we'll pay for things

Visa is investing in MagicCube, a payments-security fintech focused on enabling devices like smartphones to accept payments. In lieu of buying checkout hardware, merchants could use devices like smartphones to accept payments in the future. MagicCube built the card industry-backed security needed for widespread adoption. Earlier this year, Apple acquired Mobeewave, another fintech that turns smartphones into payment terminals. MagicCube has raised over $12 million to date from investors includ...
Tags: Apple, Europe, Australia, China, US, Samsung, Trends, Paypal, Square, Honda, North America, Max Levchin, Mastercard, Ingenico, Vmware, Cto


Startups Weekly: Will future unicorns go public sooner?

The public markets are staying receptive to tech IPOs, and tech unicorns are trying to recover from pandemic damage, polish up their financials, and head back towards the starting gates. This week, it’s Airbnb and Palantir, finally. Both have been startup icons of the past decade, and literally helped define the term “unicorn.” Now, both are illustrating the challenges that can come from sticking to private funding for years when going public was feasible. First up, the travel rental company fil...
Tags: Apple, Startups, TC, Facebook, Microsoft, Stanford, China, San Francisco, Tech, Airbnb, Ryan Lawler, Max Levchin, Alex, Intuit, Oracle, Palantir


Daily Crunch: Apple hits $2 trillion market cap

Apple stock reaches a big milestone, Facebook Portal gets more work-friendly and Twitter reports progress against hate speech. This is your Daily Crunch for August 19, 2020. The big story: Apple hits $2 trillion market cap Apple’s share price is up around 59% since the beginning of the year, despite seeing relatively modest, 11% year-over-year revenue growth in its most recent earnings report. Alex Wilhelm argues that Apple’s strong market performance, and similar strength from other tech g...
Tags: Apple, TC, Scotland, India, Dnc, Tech, Bloomberg, Earth, Alibaba, Michigan, Max Levchin, Wall Street Journal, Alex Wilhelm, Sophie, Levchin, Jeff Lawson


Max Levchin is looking ahead to fintech’s next big opportunities

Max Levchin needs little introduction in the world of tech. As an entrepreneur, he’s been the co-founder of PayPal (now public), Slide (acquired by Google) and Affirm (reportedly about to go public), some of the hottest startups to have come out of Silicon Valley. And as an investor, he’s applied his power of observation and execution also towards helping many others build huge technology businesses. We sat down with Levchin for a recent session of Extra Crunch Live, where he spoke at length ...
Tags: Google, Tech, Paypal, Silicon Valley, Max Levchin, Levchin, ECL


The IPO market is on fire after a short-lived drought — here are the hottest public debuts to keep an eye on, and which banks are eyeing big fees for pulling them off.

After some big successes in the 2020 IPO class, investors are looking ahead to a big-name slate of more unicorns and decacorns coming to the public market.  Palantir and Asana could go public, perhaps via direct listings, by the end of September. Other big names eyeing IPOs include Airbnb and Snowflake.  Visit Business Insider's homepage for more stories. After a dip in initial public offerings in the spring, the market is back in full swing. Tech companies that sat out market volatility and ...
Tags: Facebook, Spotify, Microsoft, Corporate America, Australia, Ipo, Softbank, US, San Francisco, Trends, Adidas, Bloomberg, Paypal, Cnn, Walgreens, Peter Thiel


Extra Crunch Live: Join a live Q&A with Max Levchin today at 1pm PDT/4pm EDT

Money makes the world go round, as the saying goes. But how and where we spend it are still very much up for grabs. One person who has been pondering that question and providing answers very successfully is Max Levchin, and we’re very excited to have him as our special guest today on Extra Crunch Live, where we’ll be interviewing him as well as taking questions from the audience. Levchin could not be more central to the story of Silicon Valley’s rise, and the rise of fintech, in the last twenty ...
Tags: TC, Yahoo, America, Tech, Paypal, Silicon Valley, Max Levchin, Affirm, Max, Levchin, Extra Crunch Live


AgentSync raises $4.4M for its insurtech compliance service

Today AgentSync announced that it has closed a $4.4 million Seed round, co-led by Elad Gil and Caffeinated Capital. Other well-known names from the Silicon Valley scene took part in its funding round, including Affirm’s Max Levchin and the podcaster turned VC Harry Stebbings, among others. The round caught our eye because AgentSync is working in a space that has seen a notable wave of venture interest in 2020 — insurtech, which we’ve covered somewhat extensively — and because it shared hard r...
Tags: Fundings & Exits, Startups, TC, Tech, Zenefits, Silicon Valley, Max Levchin, Parker Conrad, David Sacks, Cto, Conrad, ARR, Sacks, Harry Stebbings, Elad Gil, Sabharwal


Extra Crunch Live: Join fintech legend Max Levchin for a live Q&A on August 6 at 4pm ET/1pm PT

We’ve got a great Extra Crunch Live chat coming up on Thursday, August 4, that you won’t want to miss. The one and only Max Levchin, is Silicon Valley icon and entrepreneur extraordinaire, is joining us to talk all things tech and fintech. You might know him as the CEO of Affirm, one of the hottest finance startups around right now, but he’s actually been a significant figure in tech in the Valley — and globally — for decades, making his name back in the first dot-com boom, as one of the co-f...
Tags: Startups, TC, Finance, Tech, Silicon Valley, EC, Max Levchin, Affirm, Sequoia, Roelof Botha, Valley, Levchin, Homebrew, Hunter Walk, Join Max


Affirm is reportedly eyeing an IPO that could value it at $10 billion. Here's how the buy now, pay later fintech became one of the breakout stars of 2020.

Affirm, a point-of-sale microlender that lets consumers make purchases with the flexibility to defer their payments over time, is eyeing an IPO with the aid of Goldman Sachs, the Wall Street Journal reported. The move could see Affirm's value soar to up to $10 billion, according to the WSJ report. The possible IPO comes as buy now, pay later has been riding a wave in 2020, buoyed by an increase in online shopping demand and consumers' caution about over-extending their budgets during the coron...
Tags: Facebook, Australia, France, Ipo, US, Trends, Walmart, Paypal, Ubs, Goldman Sachs, Max Levchin, Wall Street Journal, Jetblue, WSJ, Shopify, Expedia


Investors say these 38 fintechs are the next generation of breakout B2B stars, following in the footsteps of Stripe and Plaid

We asked some of the top fintech investors to recommend up-and-coming fintechs that cater directly to businesses. Investors could nominate their own portfolio companies, as well as fintechs they haven't backed, with the caveat that nominees couldn't have raised beyond a Series B round of funding. While responses were wide-ranging, a central theme was automation, with a focus on fintechs that help businesses streamline processes like data management and payments. Here are the 38 up-and-coming B...
Tags: Europe, New York, London, Colorado, California, Montana, India, US, Los Angeles, San Francisco, Trends, Ap, Earnest, New Jersey, Merrill Lynch, Aws


Shopify and Affirm are partnering up on buy now, pay later in a deal bringing together 2 of the hottest e-commerce players. Here's why it's a big win for both sides.

Affirm said on Wednesday it will power Shopify's buy now, pay later product, Shop Pay Installments, set to launch later this year. The partnership dramatically expands Affirm's reach to US consumers looking for an alternative to credit cards. Shopify has been on a product-launching spree, with a focus on ways to boost sales for its merchants. Offering a buy now, pay later option like Affirm can help retailers convert browsers to buyers online. Visit Business Insider's homepage for more stories...
Tags: Facebook, US, Trends, Walmart, Paypal, Max Levchin, Shopify, Klarna, Levchin, Leslie Odom Jr, Peloton, Andreessen Horowitz Lightspeed Venture Partners, Kaz Nejatian, Nejatian, Shop Pay Installments


Shopify and Affirm are partnering up on buy now, pay later in a deal bringing together 2 of the hottest e-commerce players. Here's how both sides will benefit big from the move.

Affirm said on Wednesday it will power Shopify's buy now, pay later product, Shop Pay Installments, set to launch later this year. The partnership dramatically expands Affirm's reach to US consumers looking for an alternative to credit cards. Shopify has been on a product-launching spree, with a focus on ways to boost sales for its merchants. Offering a buy now, pay later option like Affirm can help retailers convert browsers to buyers online. Visit Business Insider's homepage for more stories...
Tags: Amazon, Facebook, US, Trends, Walmart, Paypal, Max Levchin, Shopify, Klarna, Levchin, Peloton, Andreessen Horowitz Lightspeed Venture Partners, Kaz Nejatian, Nejatian, Shop Pay Installments


Two former South Korea WeWorkers just launched a real-estate tech startup. Here's a look at the growing network of WeWork alumni founding and funding new companies.

WeWork alumni are founding and investing in new companies after stints at the office giant.  One VC who's backed them said these entrepreneurs dream big but stay focused, drawing on lessons learned the hard way at WeWork.  The former head of WeWork South Korea just started a local real-estate company to make buying and renting homes easier, and he raised a pre-seed round largely from WeWork alumni.   Visit Business Insider's homepage for more stories. Matt Shampine and Jesse Middleton's chanc...
Tags: Asia, South Korea, New York, Boston, Softbank, New York City, US, Trends, Bloomberg, Paypal, Ibm, WeWork, Max Levchin, Seoul, Zillow, Middleton


Here's how PayPal is looking to supercharge its credit business by leaning into a buy now, pay later boom

PayPal is building out its credit business as shopping trends shift due to coronavirus.  While PayPal has had a buy now, pay later solution since 2008, its focus is shifting to shorter-term payment plans geared toward young consumers.  The tech giant just launched a buy now, pay later solution in France, offering consumers the ability to split purchases into four installments. Buy now, pay later startups like Afterpay and Klarna have seen a boost during the pandemic as more consumers shop onli...
Tags: France, China, US, Trends, Walmart, Paypal, Tencent, Square, American Express, Credit, Max Levchin, Fintech, Klarna, Bland, DON T, PayPal Credit


PayPal's head of credit lays out the payment giant's plans to grow its credit business by leaning into the red-hot buy now, pay later industry

PayPal, long known as a payments player, is building out its credit business as shopping trends shift due to coronavirus.  While PayPal has had a buy now, pay later solution since 2008, it's focus is shifting to shorter-term payment plans geared toward young consumers.  The tech giant just launched a buy now, pay later solution in France, offering consumers the ability to split purchases into four installments. Buy now, pay later startups like Afterpay and Klarna have surged amid the coronavir...
Tags: France, China, US, Trends, Walmart, Paypal, Tencent, Square, American Express, Credit, Max Levchin, Fintech, Klarna, Bland, PayPal Credit, PayPal Working Capital