In an Extra Crunch Live this past week, Cleo Capital founding partner Sarah Kunst broke down what founders can learn from Supreme, a sought-after streetwear brand. She argued that founders, similar to Supreme, should build a brand around themselves that is so well-respected and has clout that whenever they start something new, investors will line
Month: March 2021
Fireblocks has raised a $133 million Series C funding round led by Coatue, Ribbit and Stripes. The company provides several products that let you store, transfer and issue digital assets. In particular, Fireblocks provides custody to institutional investors — it currently stores $400 billion in cryptocurrencies. BNY and SVB Capital are also participating in today’s funding
Barely more than seven months after its most recent funding announcement, Yotpo is revealing that it has raised another $230 million in a Series F round that values the company at $1.4 billion (post-money). “Our round, in my eyes, it’s all about celebrating the future of e-commerce,” co-founder and CEO Tomer Tagrin told me. “Brands
The B2B payments space has been on fire for a while, and the COVID-19 pandemic has only fueled mass adoption of digitizing finances. In regions like Latin America, the need for innovation in the sector is even more paramount than in the United States with so many people still relying on outdated processes. One Mexico
Amid all the news of the last few days, you might have missed that eToro, an Israeli consumer stock-trading service, is going public in the United States via a SPAC. Don’t worry about the SPAC bit: If you want a rundown of the deal itself, Mary Ann has you covered. What matters for our purposes
Offerpad is the latest proptech company to go public via a SPAC merger. The Phoenix, Ariz.-based company announced Thursday its plans to go public by merging with Supernova Partners Acquisition Company in a deal valued at $3 billion. The transaction is expected to close in the second, or early third, quarter of 2021. The combined
Snowflake announced earlier this month that it would give up its dual-class shareholder structure, a corporate governance setup that often gives founders and executives superior voting rights, typically involving 10 times as many votes for their own shares as others receive. The mechanism can enable founders to maintain control despite later dilution and may sometimes
Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. Natasha and Danny and Alex and Grace were all here to chat through the week’s biggest tech happenings. This time around we had whatever passes for a quiet week as far as news volume. But that still meant we had to cut stuff and
Recently public unicorn Upstart announced earnings that blew the socks off of Wall Street this week. After closing on Wednesday at around $61 per share, Upstart wrapped Thursday worth $115 per share. It turns out that all the blather we’ve had to endure about artificial intelligence (AI) in the past decade is coming true, at
The paradox of connected computing is how much information is made available to us in just a few clicks or taps — but also how this ocean of available data can overwhelm and lap over a particular bit of intel the moment we need to lay our fingers back on it. Fire up a web
Facebook this morning announced it will increase the penalties against its rule-breaking Facebook Groups and their members, alongside other changes designed to reduce the visibility of groups’ potentially harmful content. The company says it will now remove civic and political groups from its recommendations in markets outside the U.S., and will further restrict the reach
Shortly after Twitter announced it would begin testing a better way to display images on its app, it’s now doing the same for YouTube videos. According to a new post on Twitter’s Support account, the company will today start testing a way to watch YouTube videos directly from your home timeline within the Twitter iOS
As WhatsApp spends months to address users’ concerns and confusion about its planned policy update, there is evidently one entity it hasn’t had much luck making inroads with: The government of India. The Indian government alleged on Friday that WhatsApp’s planned privacy update, which goes into effect in two months, violates local laws on several
John S. Kim Contributor John S. Kim is CEO of Sendbird, makers of a customizable chat and messaging API service for mobile and web applications. Social+ companies are upping the stakes for everyone by giving consumers multiple benefits at once: products that serve a purpose but also meet our need for belonging to a community.
Instagram and WhatsApp experienced an apparent outage on Friday. It began around 1:40 p.m. ET and lasted for more than half an hour. WhatsApp was unable to connect to the server, and messages were not being delivered. It’s not clear if the issue also affected Facebook Messenger, which last year rolled out new functionality to
Facebook’s hardware strategy often looks pretty opaque from the outside. The company has done fairly well with Oculus sales amid pandemic demand. Even its Echo Show competitor Portal has seen a bump as people have been forced to socially distance. The company’s smartphone partnership with HTC, meanwhile, fell flat eight or so years back. Earlier
Facebook develops a new way to interact with AR, Uber’s facial recognition policy faces scrutiny and SpaceX’s Starship rocket booster hits a major milestone. This is your Daily Crunch for March 19, 2021. The big story: Facebook shows off wrist-based interface This project comes out of Facebook Reality Labs and is supposed to present an
The Swiss-based, venture capital-backed, direct air capture technology developer Climeworks is partnering with a joint venture between the government of Norway and massive European energy companies to map the pathway for a business that could provide not only the direct capture of carbon dioxide emissions from air, but the underground sequestration and storage of those
A new alliance between Swedish electric performance automaker Polestar and EV infrastructure startup ChargePoint takes aim at the charging experience with the debut of an in-car app that will let customers seamlessly charge their Polestar 2 model vehicles. Seamless charging — being able to pull up to a charging station, plug in and let the
Nancy Pfund Contributor Nancy Pfund is founder and managing partner of DBL Partners, a venture capital firm whose goal is to combine top-tier financial returns with meaningful social, environmental and economic returns in the regions and sectors in which it invests. It seems that every week a new agribusiness, consumer packaged goods company, bank, technology
Northvolt, the Swedish battery manufacturer which raised $1 billion in financing from investors led by Goldman Sachs and Volkswagen back in 2019, has signed a massive $14 billion battery order with VW for the next 10 years. The big buy clears up some questions about where Volkswagen will be getting the batteries for its huge
Volkswagen AG is gearing up to seize the top spot as the world’s largest electric vehicle manufacturer with plans announced Monday to have six 40 gigawatt hour (GWh) battery cell production plants in operation in Europe by 2030. To get there, the automaker put in a 10-year, $14 billion order with Swedish battery manufacturer Northvolt
Jim Jackson developed timber and farmland in Eastern Washington, protected from coastal rains by the peaks of the Cascade mountains, building out a clutch of apple farms and other properties on the state’s sunny side for 40 years. Traditionally, he raised money to expand operations for his farms through his existing network, which meant asking
As NASA is quick to remind people, the investments it funnels toward space exploration often wind up improving life on Earth — and it’s now in the business of speeding up some of that work through startups. SMART, a startup founded in 2020, has a partnership with NASA through the Space Act Agreement and is
Micah Kotch Contributor Micah Kotch is the managing director at URBAN-X. Individual solutions to the collective crisis of climate change abound: backup diesel generators, Tesla powerwalls, “prepper” shelters. However, the infrastructure that our modern civilization relies on is interconnected and interdependent — energy, transportation, food, water and waste systems are all vulnerable in climate-driven emergencies.
About four years ago, social impact organization Norrsken Foundation launched a small program investing around €30 million in capital it had received from its wealthy patron, Klarna co-founder Niklas Adalberth. Now, that initiative has become its own impact investment firm, Norrsken VC and, according to people familiar with the firm, is about to close on
Amazon is expanding customer deliveries via electric cargo vehicle to San Francisco, making the Bay Area the second of 16 total cities the company expects to bring its Rivian-sourced EVs to in 2021. San Francisco’s unique terrain and climate were a couple of the reasons Amazon said it chose the city for its second round
Amazon is apparently pleased with how its Amazon Care pilot in Seattle has gone, since it announced this morning that it will be expanding the offering across the U.S. this summer, and opening it up to companies of all sizes, in addition to its own employees. The Amazon Care model combines on-demand and in-person care,
SecurityScorecard has been helping companies understand the security risk of its vendors since 2014 by providing each one with a letter grade based on a number of dimensions. Today, the company announced a $180 million Series E. The round includes new investors Silver Lake Waterman, T. Rowe Price, Kayne Anderson Rudnick and Fitch Venture, along
The running line from any CEO of an acquired company is that the company can do so much more with resources of the company that acquired it than it could on its own. Just seven months after being acquired, Drone co-founder Brad Rydzewski says that his company really has benefited greatly from being part of
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