Posts filtered by tags: The Exchange[x]


 

China’s expected edtech clampdown may chill a key startup sector

News that China’s government may force domestic tutoring-focused companies to go non-profit is taking a huge bite out of the value of several technology companies. Bloomberg notes that the value of companies like New Oriental Education & Technology Group and TAL Education are tumbling in light of the news, which would constitute merely the latest salvo against tech companies in the autocratic country. New Oriental’s Hong Kong-listed shares fell 44.22% in after-hours trading after the non-profit ...
Tags: Fundings & Exits, Startups, TC, Asia, Hong Kong, Education, China, Tech, Bloomberg, Zomato, Edtech, Zuoyebang, Nyse, Yahoo Finance, The Exchange, Yuanfudao


Canada’s startup market booms alongside hot global VC investment

Continuing our global look into the torrid pace of venture capital investment in the second quarter, today we turn to Canada. While many markets have posted impressive results, like the United States setting the pace for new all-time records in dollars invested into startups, Canada’s numbers stand out. The country, now famous in the startup world for giving birth to Shopify, has already crushed prior yearly records for venture investment thus far in 2021. Indeed, CB Insights data indicates that...
Tags: Fundings & Exits, Startups, Toronto, Tech, Canada, United States, Venture Capital, Private Equity, Shopify, Exchange, Startup Company, Cb Insights, John Ruffolo, OMERS Ventures, Vena, The Exchange


What Robinhood’s warnings about crypto trading say about Coinbase’s near-term future

Is the trading boom of 2020 and 2021 slowing? That’s a question The Exchange has had on its mind since Robinhood released its latest IPO filing. The popular U.S. consumer-focused investing app told investors in the document that it expects revenues to decline in the third quarter compared to its Q2 performance. The company highlighted historically strong crypto volumes in preceding quarters as part of the reason for its anticipated revenue decline. The Exchange explores startups, markets and mo...
Tags: Fundings & Exits, Startups, TC, Tech, Bitcoin, Cryptocurrencies, Robinhood, Coinbase, Exchange, Dogecoin, Robinhood Robinhood, The Exchange, EC Newsletter, EC Fintech, And Square


The European VC market is so hot it may skip its summer holiday

The startup market is having a moment around the world, but few regions can brag as much as Europe when it comes to venture capital investment. Yes, the United States is putting up impressive numbers and Indian startups are booming. But Europe is such a bright spot in the larger world of private startup investment that it deserves more solo attention. The data coming out of the continent is staggering: According to a Dealroom report, some €49 billion was raised by European startups in the first ...
Tags: Fundings & Exits, Startups, Asia, Europe, China, Tech, London Stock Exchange, United States, Creandum, Draper Esprit, Dealroom, The Exchange, European Venture Capital, Javier Santiso, Mundi Ventures, Vinoth Jayakumar


Robinhood targets IPO valuation up to $35B amid warning that crypto incomes are slipping

Robinhood released an S-1/A filing detailing its first IPO price range this morning. The company first filed to go public in early July after raising billions earlier in the year. The well-known U.S. consumer fintech giant intends to sell shares in its public market debut at a price between $38 and $42 per share. Robinhood is selling 52,375,000 in its IPO, worth $2.0 billion to $2.2 billion. Another 2,625,000 are being offered by existing shareholders, while its underwriting banks have the optio...
Tags: Fundings & Exits, Startups, TC, Twitter, Tech, United States, S-1, Robinhood, Initial Public Offering, Valuation, The Exchange, First Robinhood, EC Newsletter, EC Fintech


India poised for record VC year as unicorns head for decisive IPOs

In case you’ve not been paying attention, we’ll say it again: The global venture capital industry is on fire. The second quarter of 2021 was the largest single three-month period on record for dollars invested. The data coming in points to a worldwide boom. The United States’ startup market had a huge Q2, and investors don’t expect the pace to slow in the country. Europe is also having one hell of a year. Around the world, 2021 is shaping up to be a breakout year for venture investment into star...
Tags: Fundings & Exits, Startups, Europe, Ipo, India, Tech, United States, Alibaba, Venture Capital, Private Equity, Zomato, Unicorns, Blume Ventures, Paytm, MobiKwik, The Exchange


Revolut’s 2020 financial performance explains its big new $33B valuation

News broke this morning that Revolut, a U.K.-based consumer fintech player, raised a Series E round of funding worth $800 million at a valuation of $33 billion. Those figures are breathtaking not only due to their sheer scale, but also thanks to their radical divergence from Revolut’s preceding funding event. At times, The Exchange, TechCrunch’s markets-and-startups column, runs into two topics worth exploring in a single day. Today is such a day. You can check out our earlier notes on the buy n...
Tags: Apple, Fundings & Exits, Startups, TC, Finance, Softbank, Tech, Tiger Global, Revolut, Exchange, Ingrid Lunden, The Exchange, SoftBank Vision Fund, Lunden, EC Newsletter, EC Fintech


What impact will Apple’s buy now, pay later push have on startups?

Bloomberg broke news earlier this week that Apple, the consumer hardware giant with a rising services focus, is building a buy now, pay later (BNPL) service that will integrate with its Apple Pay system. The news sent shares of Affirm down just over 10% by the end of the day, and it shed 2.5% of its value yesterday. It’s off a little more than 61% from the highs it set after debuting earlier this year. In light of information that Apple could cut into Affirm’s business, investors decided the for...
Tags: Apple, Fundings & Exits, Startups, Tech, Bloomberg, United States, Affirm, Exchange, Klarna, The Exchange, Afterpay, BNPL, Klarna Affirm, EC Newsletter, EC Fintech


How to make the math work for today’s sky-high startup valuations

Venture capital price discipline is out the window; venture funds are looking to make faster, earlier deals; and more unicorns were minted in the last three months than during any quarter in history. It’s a busy time for startups and their financial backers. Now weeks into July, it’s increasingly clear that 2021 is shaping up to be a record-setter for venture capital investment. And investors don’t expect the frenetic pace to slow. The Exchange explores startups, markets and money. Read it ever...
Tags: Fundings & Exits, Startups, TC, Global, Tech, Venture Capital, Private Equity, Wall Street Journal, Exchange, Startup Company, Cb Insights, Christopher Mims, BoldStart Ventures, Ghosh, The Exchange, Startup Valuations


Investors don’t expect the US startup funding market to slow down

Now in the opening weeks of the third quarter, The Exchange is taking a look back at the Q2 2021 venture capital market. Data indicate that it was incredibly active, with global and regional records shattered during the three-month period. The Exchange explores startups, markets and money. Read it every morning on Extra Crunch or get The Exchange newsletter every Saturday. Per data from CB Insights, for example, The Exchange reported that global venture capital activity shot to $156 billion i...
Tags: US, Tech, Nea, Exchange, Jeff Grabow, The Exchange, Vanessa Larco, Larco


Startups have never had it so good

The venture capital market is racing ahead, foot on the gas, middle finger out the window, hair on fire. That’s our read of the Q2 2021 data released thus far concerning how much money venture capitalists deployed around the world during the second three months of the year. Startups have never had it this good when it comes to accessing private-market funds. The Exchange explores startups, markets and money. Read it every morning on Extra Crunch or get The Exchange newsletter every Saturday. ...
Tags: Fundings & Exits, Startups, TC, Asia, Europe, Tech, Canada, Venture Capital, Silicon Valley, Alex, Exchange, Crunchbase, Cb Insights, FactSet, Dealroom, The Exchange


Circle is a good example of why SPACs can be useful

In the wake of Coinbase’s direct listing earlier this year, other crypto companies may be looking to go public sooner than later. That appears to be the case with Circle, a Boston-based technology company that provides API-delivered financial services and a stablecoin. The Exchange explores startups, markets and money. Read it every morning on Extra Crunch or get The Exchange newsletter every Saturday. Circle will not direct list or pursue a traditional IPO. Instead, the company is combining ...
Tags: Fundings & Exits, Startups, Money, Finance, Boston, Tech, Api, Cryptocurrencies, Coinbase, Cryptocurrency, Exchange, Circle, SPAC, USDC, Romain Dillet, Seedinvest


Investors find European unicorns reluctant to join SPAC boom

The U.S. SPAC market kept rolling along this week with news that Satellogic will go public on the Nasdaq stock exchange thanks to a merger with a blank check company. The Earth-imagery-focused company is standard SPAC fare, with strong capital needs and distant revenues. It was not alone in pursuing the transaction type Tuesday, with news breaking that Nextdoor will also go public on the Nasdaq via a SPAC. Nextdoor’s projections, as TechCrunch noted, were more modest and thus more believable tha...
Tags: Fundings & Exits, Startups, Europe, Tech, United States, Private Equity, Matt Murphy, Menlo Ventures, Exchange, Bessemer, Nextdoor, SPAC, Les Echos, Onofrio, Skadden, The Exchange


Will Didi’s regulatory problems make it harder for Chinese startups to go public in the US?

Shares of Chinese ride-hailing business Didi are off 22% this morning after the company was hit by more regulatory activity over the holiday weekend. The recently public company traded as high as $18.01 per share since it held an IPO last week; today, shares of Didi are worth just $12.09, off around a third from their 52-week high. The Exchange explores startups, markets and money. Read it every morning on Extra Crunch or get The Exchange newsletter every Saturday. The decline in value follow...
Tags: Fundings & Exits, Startups, Transportation, Asia, China, Ipo, US, Tech, United States, Cnbc, Exchange, Cyberspace Administration of China, PRC, Didi, The Exchange, EC Newsletter


Chinese cybersecurity probe validates Didi’s pre-IPO warning to investors

Shares of Chinese ride-hailing provider Didi are sharply lower this morning after news broke that its domestic regulators are investigating the newly public company. A loose translation of the probe’s official notice indicates that the cybersecurity review is “in order to prevent national data security risks, maintain national security, and protect the public interest.” Yesterday, regulators ordered Didi to stop registering new users during the investigation. The move comes amid a larger reset o...
Tags: Fundings & Exits, Startups, Transportation, Asia, Technology, China, India, Articles, Tech, United States, Transport, SEC, Chinese communist party, Jack Ma, Exchange, U S Congress


As EU venture capital soars, will the region hold onto future IPOs?

Shares of American cybersecurity unicorn SentinelOne began to trade yesterday on the New York Stock Exchange. The former startup had raised nearly $700 million before its IPO. And it priced its public debut above a raised price interval. But even its higher-than-anticipated valuation didn’t stop shares of the company from closing around 20% higher. The SentinelOne IPO is a single data point, but one that fits into a quarters-long trend of high-growth technology companies attracting strong — perh...
Tags: Fundings & Exits, Startups, Europe, America, Tech, Eu, United States, Ey, New York Stock Exchange, Deliveroo, Exchange, The Exchange, SentinelOne, EC Europe, EC Newsletter, Crunchbase News Early


For US and Chinese startups, the IPO market is increasingly a two-tier affair

The American IPO market is hot for many companies, but surprisingly cool for others. The gap between the two cohorts of private companies looking to list is becoming notable. When Chinese ride-hailing giant Didi first set an IPO price range, The Exchange was curious about why the company felt so inexpensive. Compared to its American comps, shares in Didi simply felt underpriced at its proposed valuation interval. Recently, Didi stuck to its initial expectations by pricing at $14 per share, the u...
Tags: Fundings & Exits, Startups, Uber, Asia, China, US, Tech, United States, IPO market, Initial Public Offering, Didi, LegalZoom, Integral Ad Science, Dingdong, Xometry, The Exchange


Late-stage capital is having a ‘cascading effect’ on European VC activity

Capping off our dig into the early-stage venture capital market, we’re taking a quick look at Europe this morning. Previously, The Exchange tucked into the United States’ early-stage market for startup capital, uncovering startups using abundant seed capital to get more done before raising a Series A, while others were using pedigree, team and market size to accelerate their first lettered raise. For both cohorts, it appeared that a rapid-fire Series B could be in the offing, with VCs looking to...
Tags: Fundings & Exits, Startups, Europe, London, Funding, Tech, United States, Venture Capital, Latin America, Draper Esprit, Accel, Series A, Series B, Exchange, The Exchange, Jayakumar


SentinelOne’s upgraded IPO pricing is good news for Tiger, public markets and your local VC

As the second quarter races to a close, we’re down to the wire for IPOs looking to get out before June ends. One such company is SentinelOne, a cybersecurity startup backed by Insight Venture Partners, Redpoint, Tiger Global Management, Data Collective and Anchorage Capital, among others. SentinelOne raised an ocean of capital while private, including nearly $500 million across two rounds in 2020. Its debut is therefore a huge liquidity event for a host of investing groups. And today, the cybers...
Tags: Security, Fundings & Exits, Startups, TC, Tech, Snowflake, Shopify, Exchange, The Exchange, SentinelOne, Anchorage Capital, EC Newsletter, EC Cybersecurity


Like the US, a two-tier venture capital market is emerging in Latin America

Earlier this week, The Exchange wrote about the early-stage venture capital market, with the goal of understanding how some startups are raising more seed capital before they work on their Series A, while other startups are seemingly raising their first lettered round while in the nascent stages of scaling. The expedition was rooted in commentary from Rudina Seseri of Glasswing Ventures, who said abundant seed capital in the United States allows founders to get a lot done before they raise a Ser...
Tags: Fundings & Exits, Startups, Mexico, US, Tech, Colombia, United States, Venture Capital, Latin America, Series A, Series B, Exchange, Justo, The Exchange, Glasswing Ventures, Rudina Seseri


a16z’s new $2.2B fund won’t just bet on the crypto future, it will defend it

The big news in tech this morning is a new a16z cryptocurrency-focused fund totaling some $2.2 billion. The new investment vehicle is worth around four times what the company’s preceding crypto fund — its second — was worth. Andreessen’s wager on cryptocurrency is only accelerating over time as the investing house raises larger funds focused on the market with less time between them. The Exchange explores startups, markets and money. Read it every morning on Extra Crunch or get The Exchange new...
Tags: TC, Finance, Tech, Andreessen, Bitcoin, Venture Capital, Cryptocurrencies, Ethereum, Coinbase, Marc Andreessen, Exchange, A16z, The Exchange, EC Fintech


Investors’ thirst for growth could bode well for SentinelOne’s IPO

Turning the page from the early-stage venture capital market to the super late-stage exit market, this morning we’re talking about endpoint security company SentinelOne’s IPO in the context of Sprinklr’s own. We’ll have more on the public offering market later today when Doximity and Confluent price their respective IPOs after the close of trading. The Exchange explores startups, markets and money. Read it every morning on Extra Crunch or get The Exchange newsletter every Saturday. SentinelOne...
Tags: Tech, Exchange, Sprinklr, The Exchange, Doximity


The early-stage venture capital market is weird and chaotic

When SoftBank announced its first Vision Fund back in 2017, TechCrunch gawked at the size of the fundraising vehicle and its $100 million minimum check size. Noting a few of its early deals, we wrote that “the party is just getting started.” Little did we know how accurate that quip would become. The Vision Fund poured capital into a host of companies with big plans, or what could at least be construed as grandiose hypotheses about the future. And after deploying $98.6 billion in a blizzard of d...
Tags: Fundings & Exits, Startups, TC, Softbank, Tech, Vc, United States, Series A, Series B, Exchange, The Exchange, Glasswing Ventures, Rudina Seseri, Vision Fund, Early-stage Venture Capital, Seseri


Maybe neobanks will break even after all

The Exchange is back after its brief hiatus. Anna and I have some really neat stuff planned, so stick with us every morning this week. — Alex Building a consumer-facing fintech company is expensive. And if you want to build one in a sector crowded by both incumbent companies and richly funded startups, it can be super expensive. That was the lesson we learned in late 2020 by examining operating results from a number of neobanks. Neobanks are essentially software layers atop banking infrastructur...
Tags: Fundings & Exits, Startups, TC, Finance, Tech, Anna, Starling, Revolut, Romain Dillet, Monzo, The Exchange, Neobank, Neobanks, EC Newsletter, EC Fintech, Alex Building


Insurtech is hot on both sides of the Atlantic

The U.S. insurance technology market is hot, and has been for years now. Back in early 2020, to pick an example, TechCrunch reported on a wave of funding events among domestic insurtech marketplaces. Those companies have since gone on to raise hundreds of millions of dollars more. And after a long period of incubation, we’ve seen neo-insurance players from the U.S. like Root and MetroMile go public. Hippo is working to join the cohort. The Exchange explores startups, markets and money.  Read i...
Tags: Fundings & Exits, Startups, Europe, Tech, Eu, Atlantic, United States, Exchange, Hippo, Insurtech, The Exchange, Wefox, EC Newsletter, EC Fintech, Accel Astorya, Root Alex Timm


What do these 4 IPOs tell us about the state of the market?

We’re digging into the final IPO prices set by fintech unicorn Marqeta and enterprise productivity unicorn Monday.com this morning. Briefly, it’s good news. A small programming note: The Exchange is off next week. I am taking some time to do nothing other than eat, read books and lose at lawn games. Regular service will resume the week after. The Exchange explores startups, markets and money.  Read it every morning on Extra Crunch or get The Exchange newsletter every Saturday. To catch up on ...
Tags: Fundings & Exits, Startups, TC, Tech, Exchange, The Exchange, Zeta Global, Marqeta, 1stdibs, Monday.com, EC Newsletter, First IPO


AI startup investment is on pace for a record year

The startup investing market is crowded, expensive and rapid-fire today as venture capitalists work to preempt one another, hoping to deploy funds into hot companies before their competitors. The AI startup market may be even hotter than the average technology niche. This should not surprise. In the wake of the Microsoft-Nuance deal, The Exchange reported that it would be reasonable to anticipate an even more active and competitive market for AI-powered startups. Our thesis was that after Redmon...
Tags: Apple, Fundings & Exits, Startups, Microsoft, Tech, Atomico, Exchange, Blumberg Capital, Redmond, Zetta Venture Partners, The Exchange, Jocelyn Goldfein, Ben Blume, EC Newsletter, Microsoft Nuance, Rudina Seseri Atomico


As Monday.com targets $6B+ IPO valuation, Zoom and Salesforce commit $150M

Team management software company Monday.com dropped a new IPO filing today. The latest document — an F-1/A, because the company is based in Israel — provides what could be Monday.com’s final pre-IPO pricing notes and details planned investments from both Zoom and Salesforce after its public offering closes. The Exchange explores startups, markets and money.  Read it every morning on Extra Crunch or get The Exchange newsletter every Saturday. Monday.com’s price range of $125 to $140 per share ...
Tags: Fundings & Exits, Startups, TC, Israel, Tech, Salesforce, The Exchange, Team Management, Monday.com, EC Cloud and Enterprise Infrastructure, EC Newsletter


This SPAC is betting that a British healthcare company can shake up the US market

Welcome back to the week, and welcome back to The Exchange. Robinhood has yet to file its IPO, so we’re looking at other companies in the meantime. Today it’s Babylon Health, a British healthtech company that is pursuing a U.S. listing via a blank-check company, or SPAC. You have questions. I have questions. We’ll get to some answers. But before we do, we wanted to note that Anna and I are looking into the AI startup market tomorrow morning. If you are a VC with notes regarding the current pace ...
Tags: Health, Fundings & Exits, Startups, TC, US, Tech, Anna, Robinhood, Exchange, Babylon Health, Babylon, SPAC, PitchBook, Kinnevik, The Exchange, Hoxton Ventures


As buy-now-pay-later startups keep raising capital, a dive into Klarna, Afterpay and Affirm’s earnings

Venture capitalists continue to fund buy-now-pay-later (BNPL) startups, evidence of ongoing optimism regarding not only e-commerce, but the specific model for financing consumer purchases as well. Evidence of continued investor confidence in the BNPL space cropped up several times in the second quarter. Divido, a startup that TechCrunch described as a “white-label [BNPL] platform for retail finance that integrates with e-commerce platforms,” raised $30 million. And Zilch raised $80 million for a...
Tags: Fundings & Exits, Startups, TC, Ecommerce, Tech, Payments, Affirm, Exchange, Klarna, The Exchange, Divido, Afterpay, BNPL, Buy Now Pay Later, EC Ecommerce and D2C, Klarna Afterpay