Tag: Venture Capital

Uber to Buy Postmates for $2.65 Billion

SAN FRANCISCO — Uber has agreed to acquire the food delivery start-up Postmates for $2.65 billion, said two people with knowledge of the deal, as the ride-hailing firm aims to grow its presence in on-demand food delivery while its core business struggles. The companies plan to announce the all-stock deal as soon as Monday, said […]

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We Socialize Bailouts. We Should Socialize Successes, Too.

When the economy is in crisis, who do we turn to for help? Not corporations — it’s governments. But when the economy is flourishing, we ignore governments and let corporations soak up the rewards. This was the story of the 2008 financial crisis. A similar story is unfolding today. Governments have spent trillions on stimulus […]

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Altman Brothers Band: Sam Altman’s Newest Project Is A Fund To Launch Startup ‘Moonshots’

Sam Altman, bottom right, has launched a new fund to back moonshots called Apollo with younger … [+] brothers Max, left, and Jack, top. Courtesy of Sam Altman Sitting at their dinner table growing up, Sam Altman and his brothers dreamed about space travel. “We all grew up as somewhat nerdy math and science kids, […]

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Exclusive: Why All-Star Investors Think $350 Million Video Startup Loom Is The Next Big Thing In Remote Work Tech

Loom cofounders CTO Vinay Hiremath and CEO Joe Thomas. Loom It’s nearing 10 p.m. and Ashton Kutcher’s $14 million Beverly Hills mansion is finally quiet. The actor, producer and venture capitalist has just finished his fourth and latest job: kindergarten and pre-school teacher to his three and five-year-old kids. “Now that we’re homeschooling our kids, […]

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Will the real VCs please stand up

Recently, Marc Andreessen, a partner at Andreessen Horowitz, one of the largest venture capital funds, called on the whole world to start building. To build in the broadest sense: from new cities and industries, to new educational programs that will enable millions to study at Harvard, or the learning institutions of their choice. According to […]

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Trump’s Vaccine Chief Has Vast Ties to Drug Industry, Posing Possible Conflicts

The chief scientist brought on to lead the Trump administration’s vaccine efforts has spent the last several days trying to disentangle pieces of his stock portfolio and his intricate ties to big pharmaceutical interests, as critics point to the potential for significant conflicts of interest. The scientist, Moncef Slaoui, is a venture capitalist and a […]

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The Hot New Thing in Clubby Silicon Valley? An App Called Clubhouse

SAN FRANCISCO — Marc Andreessen, a Silicon Valley investor, published a rallying cry last month that quickly ricocheted around the tech industry. In it, he placed the blame for America’s dismal response to the coronavirus on “smug complacency, this satisfaction with the status quo and the unwillingness to build.” He proposed a solution that fit […]

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Zoom, Xoom, Züm: Why Does Every Start-Up Sound Fast Now?

One day this quarantine, who can say which, I encountered the following pieces of information: Zoom, the videoconferencing company, saw its stock hit a new high; Züm, a ride-sharing venture, cut its work force by a third; and Zume, the robot pizza start-up, failed to raise more funding. In other words: Zoom boomed while Züm […]

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BlackCloak: Credentials for 68% of top pharma executives are available on the dark web

The security credentials for executives with access to sensitive pharmaceutical research and financial information are readily available on the dark web, a reminder of the massive vulnerabilities facing critical industries despite years of security investment. In a new report, cybersecurity startup BlackCloak found that 68% of the top executives from 30 leading pharmaceutical companies have […]

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Back Market raises $120 million to grow refurbished gadget market

Back Market has raised a $120 million round of venture capital as it seeks to dramatically expand the market for refurbished consumer electronics. The investment round included Goldman Sachs, Aglaé Ventures, Eurazeo Growth, and Daphni and follows rounds of $48 million in 2018 and $7 million in 2017. The Paris-based startup has created a marketplace […]

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Chinese Coffee Chain’s Scandal Renews U.S. Calls for Oversight

HONG KONG — Luckin Coffee had an audacious goal: take on Starbucks in China. Last year, unprofitable, burning through cash and not even two years old, it went to Wall Street to raise over half a billion dollars. Just a few months ago, it was valued at $12 billion. The one-time darling has now imploded […]

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CB Insights: AI funding held steady in Q1 thanks to Waymo, but early-stage startups suffered

The global pandemic put a sharp brake on venture capital deals for AI startups in Q1 2020, as investors fled early-stage deals and doubled down on the very largest private companies. According to a new report by CB Insights, AI startups globally raised $8.4 billion in the first three months of 2020, up from $5.58 […]

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Start-Ups Pursue ‘Free Money’ With Relief Funds, Prompting Backlash

Domio, a start-up that offers short-term rentals, has its headquarters in a New York City loft that features beer on tap, a game room and a wall of house slippers for visitors. The fast-growing and unprofitable company has raised $117 million in venture capital, including $100 million in August. When the coronavirus pandemic caused Domio’s […]

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Venture Capitalists Leave Coasts to Fund Inland Start-Ups

This article is part of our continuing Fast Forward series, which examines technological, economic, social and cultural shifts that happen as businesses evolve. Will Price grew up traveling the world, the son of a globe-trotting banker, and became a venture capitalist in Silicon Valley. But when he wanted to raise a family, he moved to […]

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Does Private Equity Deserve a Public Bailout?

Want this in your inbox each morning? Sign up here. The Deal Professor: Money and morals Steven Davidoff Solomon, a.k.a. “The Deal Professor,” is the faculty director at the Berkeley Center for Law, Business and the Economy In the competition for a federal bailout, venture capital won the first round. Now, private equity is fighting […]

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AI startups raised $6.9 billion in Q1 2020, a record-setting pace before coronavirus

AI startups continued to outpace the overall U.S. venture capital market in the first quarter of 2020, but the coronavirus is expected to have a severe impact on funding across all sectors for the rest of the year. According to data from the National Venture Capital Association, 285 AI-related companies in the U.S. raised $6.9 […]

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SoftBank’s Troubles Deepen With Warning of $16.7 Billion Writedown

TOKYO — SoftBank warned investors on Monday that the value of its technology fund may have dropped by as much as $16.7 billion over the last fiscal year, as its investments have been hit hard by the fallout from the coronavirus and by big bets on unprofitable companies like WeWork. SoftBank, which had deployed a […]

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Should Tech Start-Ups Take Government Loans?

How does an entrepreneur take a loan from the government to avoid layoffs when his company’s snack lounge has free kombucha on tap? The answer: Very carefully. Or, better yet, not at all. All joking aside about quirky tech perks, the question is front and center for Silicon Valley entrepreneurs in this phase of the […]

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Airbnb Raises $1 Billion to Stockpile Cash in Pandemic

SAN FRANCISCO — Airbnb said on Monday that it had raised $1 billion in new funding as it grapples with devastation from the coronavirus pandemic, and as some technology start-ups take extra measures to stockpile cash during the outbreak. The private equity giant Silver Lake and the investment firm Sixth Street Partners led the investment, […]

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Start-Ups Are Pummeled in the ‘Great Unwinding’

SAN FRANCISCO — After a crush of travel cancellations in March, WanderJaunt, a short-term home rental start-up in San Francisco, laid off 56 of its 240 employees last week. Demand for services from Wonderschool, a start-up that helps people find day care and preschool providers, dropped by half, leading it to cut most of its […]

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How Outdoor Voices, a Start-Up Darling, Imploded

Last summer, Tyler Haney, the founder and chief executive of Outdoor Voices, appeared to be golden. In just five years, the Instagram-friendly athletic apparel company that she created in her 20s had become a sensation. There was more than $50 million in funding, nine stores and appearances on the business conference circuit. A glowing profile […]

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Tapping the benefits of Venture Capital-as-a-Service

Presented by Pegasus Tech Ventures There have never been more sources of funding for startups than there are today. The best entrepreneurs have many options when it comes to financing their business — whether it’s angel funding, crowdfunding, accelerator funding, or venture funding. Traditional venture capital firms typically write the biggest checks and they have […]

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Before Clearview Became a Police Tool, It Was a Secret Plaything of the Rich

One Tuesday night in October 2018, John Catsimatidis, the billionaire owner of the Gristedes grocery store chain, was having dinner at Cipriani, an upscale Italian restaurant in Manhattan’s SoHo neighborhood, when his daughter, Andrea, walked in. She was on a date with a man Mr. Catsimatidis didn’t recognize. After the couple sat down at another […]

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The Great Wall Street Housing Grab

Chad Ellingwood wasn’t really in the market for a home in the summer of 2006. But when his best friend came across an intriguing listing in Woodland Hills — a bedroom community in Los Angeles County’s San Fernando Valley — the two men decided to visit on a whim. Entering the property beneath the canopy […]

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Silicon Valley Leaders’ Plea to Democrats: Anyone but Sanders

SAN FRANCISCO — The Silicon Valley venture capitalist Keith Rabois, onstage in January at a tech conference, said his first choice for president was a Democrat, Pete Buttigieg. And, sure, it would be a close call for Joseph R. Biden Jr. over President Trump. But Bernie Sanders? At that, Mr. Rabois, who has been a […]

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The Capital That Ate Wellness Is Going to Eat Your Mushrooms

ImageCredit…Photo Illustration by Tracy Ma/The New York Times Venture capital arrives for psychedelics. Feb. 28, 2020 Goop, Moon Juice and Daily Harvest are women-led companies oriented toward wellness, that fuzzy intersection of health and well-being. They share an ethos — and also an investor, Able Partners. “We probably are the first fund to focus exclusively […]

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In 2020, Who Is Helping Black Women Start Their Own Businesses?

Photo: Shutterstock For more than a decade, black women have been starting businesses at a rate that eclipses many of their peers, even as entrepreneurship as a whole in the U.S. is in decline. But despite all the work they’re putting in, black women still face greater hurdles in accessing capital to fund their businesses […]

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As the Start-Up Boom Deflates, Tech Is Humbled

SAN FRANCISCO — Over the past decade, technology start-ups grew so quickly that they couldn’t hire people fast enough. Now the layoffs have started coming in droves. Last month, the robot pizza start-up Zume and the car-sharing company Getaround slashed more than 500 jobs. Then the DNA testing company 23andMe, the logistics start-up Flexport, the […]

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Serena Williams Teams Up With The Mom Project To Connect Mothers To Career Opportunities

Serena Williams’ impact spans far beyond the tennis court. From investing in women-led tech startups to using her platform as an avenue to spread awareness about gender inequality, the Olympian has been a fierce advocate for the empowerment of women and girls. According to Forbes, Williams will further her advocacy work by teaming up with […]

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James Murdoch Plans Big Bets on Sustainable Businesses

James Murdoch has always seemed an odd fit in the News Corp media empire: the ecologically minded scion of a family whose centerpiece news outlets have minimized the effects of climate change. He championed sustainability projects at Sky and helped engineer a venture that poured hundreds of millions of dollars into the National Geographic Society’s […]

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Andy Rubin’s Start-Up, Essential Products, Shuts Down

SAN FRANCISCO — Essential Products, a consumer electronics start-up founded by the former Google executive Andy Rubin, said on Wednesday that it was ceasing operations. Once considered one of Silicon Valley’s most promising hardware technology start-ups, Essential had raised $330 million in outside funding because of the track record of Mr. Rubin, who is widely […]

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