Category Archives: Co-founder

Lime’s founding CEO steps down as his co-founder takes control

In an all-hands meeting this afternoon, the scooter and bike-sharing phenom Lime announced co-founder and chief executive officer Toby Sun would transition out of the C-suite to focus on company culture and R&D. Brad Bao, a Lime co-founder and long-time Tencent executive, will assume chief responsibilities, Lime confirmed to TechCrunch. “Lime has experienced unprecedented growth in the global marketplace under the joint leadership of our co-founders Brad Bao and Toby Sun,” the company said in a statement provided to TechCrunch. “Fortunately, Lime’s structure allows for our executive […]

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Startups Weekly: Will the Seattle tech scene ever reach its full potential?

Greetings from Seattle, the land of Amazon, Microsoft, two of the world’s richest men and some startups. I’m always surprised the Seattle startup ecosystem hasn’t grown to compete with the likes of Silicon Valley — or at least Boston and New York City — since the dot-com boom. Today, it’s the strongest it’s has been due to the successes of companies like the newly minted unicorn Outreach, trucking business Convoy and, of course, the dog walking startup Rover. But the city still lags behind, failing to adopt […]

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SoftBank makes a huge bet on Latin America

Rappi represents a new era for Latin American technology startups. Based in Bogotá, Colombia, the on-demand delivery startup has taken the region by storm, attracting a record amount of venture capital funding in mere months. Today marks the beginning of a new round of explosive growth as SoftBank, the Japanese telecom giant and prolific Silicon Valley tech investor, has confirmed a $1 billion investment in the business. The king-sized financing comes two months after SoftBank announced its Innovation Fund, a new pool of capital committed to spending […]

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Startups Weekly: Zoom CEO says its stock price is ‘too high’

When Zoom hit the public markets Thursday, its IPO pop, a whopping 81 percent, floored everyone, including its own chief executive officer, Eric Yuan. Yuan became a billionaire this week when his video conferencing business went public. He told Bloomberg that he actually wished his stock hadn’t soared quite so high. I’m guessing his modesty and laser focus attracted Wall Street to his stock; well, that, and the fact that his business is actually profitable. He is, this week proved, not your average tech CEO. I chatted […]

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Listen to us talk about ‘undercorns,’ IPOs and what going public is really about

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. Kate and Alex were here yesterday to dig into the Uber IPO filing; for today’s episode, we put that aside and discussed everything else that happened this week. Lucky for us, for the second half of our Thursday podcast-a-thon, the excellent Phil Libin joined us. He was the perfect guest for an IPO-heavy week. You may know Libin as a co-founder of Evernote, or part of General Catalyst, a venture shop. […]

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Startups Weekly: US companies raised $30B in Q1 2019

Let’s start this week’s newsletter with some data. Nationally, startups pulled in $30.8 billion in the first quarter of 2019, up 22 percent year-on-year, according to Crunchbase’s latest deal round-up. A closer look at the numbers shows a big drop in angel funding and a slight decrease in mega-rounds, or financings larger than $100 million. The number of mega-rounds fell to 57 deals in Q1 and deal value was down too. With that said, mega-rounds still accounted for $16.4 billion, making Q1 2019 the second-best quarter on […]

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To fund Y Combinator’s top startups, VCs scoop them before Demo Day

Hundreds gathered this week at San Francisco’s Pier 48 to see the more than 200 companies in Y Combinator’s Winter 2019 cohort present their two-minute pitches. The audience of venture capitalists, who collectively manage hundreds of billions of dollars, noted their favorites. The very best investors, however, had already had their pick of the litter. What many don’t realize about the Demo Day tradition is that pitching isn’t a requirement; in fact, some YC graduates skip out on their stage opportunity altogether. Why? Because they’ve already raised […]

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Bots are cheap and effective. One startup trolls them into going away

Bots are ruining the internet. When they’re not pummeling a website with usernames and passwords from a long list of stolen credentials, they’re scraping the price of hotels or train tickets and odds from betting sites to get the best data. Or, they’re just trying to knock a website offline for hours at a time. There’s an entire underground economy where bots are the primary tools used in automating fraudulent purchases, scraping content and launching cyberattacks. Bots are costing legitimate businesses money by stealing data, but also […]

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Jane.VC, a new fund for female entrepreneurs, wants founders to cold email them

Want to pitch a venture capitalist? You’ll need a “warm introduction” first. At least that’s what most in the business will advise. Find a person, typically a man, who made the VC you’re interested in pitching a whole bunch of money at some point and have them introduce you. Why? Because VCs love people who’ve made them money; naturally, they’ll be willing to hear you out if you’ve got at least one money maker on your side. There’s a big problem with that cycle. Not all entrepreneurs […]

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Recent departures hint at turmoil at Quartet Health, a mental health startup backed by GV

Backed with nearly $87 million in venture capital funding from GV, Oak HC/FT and F-Prime Capital, Quartet Health was founded in 2014 by Arun Gupta, Steve Shulman and David Wennberg to improve access to behavioral healthcare. Its mission: “enable every person in our society to thrive by building a collaborative behavioral and physical health ecosystem.” Recent shakeups within the New York-based company’s c-suite and a perusal of its Glassdoor profile suggest Quartet’s culture is not fully in line with its own philosophy.   In the last few weeks, chief product […]

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