Category Archives: Companies

Creative Destruction Lab’s second Super Session is an intense two-day startup testbed

Canadian startup program Creative Destruction Lab (CDL) escapes succinct description in some ways — it’s an accelerator, to be sure, and an incubator. Startups show up and present to a combined audience of investors, mentors, industry players (some of whom, like former astronaut Chris Hadfield, verge on celebrity status) — but it’s not a demo day, per se, and presentations happen in focused rooms with key, vertically aligned audience members who can provide much more than just funding to the startups that participate. North founder Stephen Lake […]

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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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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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Some reassuring data for those worried unicorns are wrecking the Bay Area

Joanna Glasner Contributor More posts by this contributor A record $2.5B went to US insurance startup deals last year, and big insurers are in all the way Space tech rockets higher The San Francisco Bay Area is a global powerhouse at launching startups that go on to dominate their industries. For locals, this has long been a blessing and a curse. On the bright side, the tech startup machine produces well-paid tech jobs and dollars flowing into local economies. On the flip side, it also exacerbates housing […]

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Pinterest prices IPO above range

Pinterest priced shares of its stock, “PINS,” above its anticipated range on Wednesday evening, CNBC reports. The company will sell 75 million shares of Class A common stock at $19 apiece in an offering that will attract $1.4 billion in new capital for the visual search engine. The NYSE-listed business had planned to sell its shares at between $15 to $17 and didn’t increase the size of its planned offering prior to Wednesday’s pricing. Valued at $12.3 billion in 2017, the initial public offering gives Pinterest a fully […]

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Birth control delivery startup Nurx taps Clover Health’s Varsha Rao as CEO

Varsha Rao, Airbnb’s former head of global operations and, most recently, the chief operating officer at Clover Health, has joined Nurx as its chief executive officer. Rao replaces Hans Gangeskar, Nurx’s co-founder and CEO since 2014, who will stay on as a board member. Nurx, which sells birth control, PrEP, the once-daily pill that reduces the risk of getting HIV, and an HPV testing kit direct to consumer, has grown 250 percent in the last year, doubled its employee headcount and attracted 200,000 customers. Rao tells TechCrunch […]

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Startups Weekly: Lessons from a failed founder

I sat down with Menlo Ventures partner Shawn Carolan this week to talk about his early investment in Uber. Menlo, if you remember, led Uber’s Series B and has made a hefty sum over the year selling shares in the ride-hailing company. I’ll have more on that later; for now, I want to share some of the insights Carolan had on his experience ditching venture capital to become a founder. Around when Menlo made its first investment in Uber, Carolan began taking a step back from the […]

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African e-commerce startup Jumia’s shares open at $14.50 in NYSE IPO

Pan-African e-commerce company Jumia listed on the New York Stock Exchange today, with shares beginning trading at $14.50 under ticker symbol JMIA. This comes four weeks after CEO Sacha Poignonnec confirmed the IPO to TechCrunch and Jumia filed SEC documents. With the public offering, Jumia becomes the first startup from Africa to list on a major global exchange. In an updated SEC filing, Jumia indicated it is offering 13,500,000 ADR shares for an opening price spread of $13 to $16 per share, representing 17.6 percent of all company shares. […]

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Zoom addresses CFO’s past workplace conduct ahead of IPO

Zoom, the only profitable unicorn in line to go public, priced its initial public offering at between $28 and $32 per share Monday morning. The video conferencing business plans to trade on the Nasdaq under the ticker symbol “ZM.” Zoom, valued at $1 billion in 2017, initially filed to go public in March. According to its amended IPO filing, the company will raise up to $348.1 million by selling 10.9 million Class A shares. The offering will grant Zoom a fully diluted market value of $8.7 billion, […]

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Changes at YC, $1.5B more for ride hailing, and Airbnb buys HotelTonight

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. We’re back to basics this week with Kate Clark at the helm, Alex Wilhelm in the sidecar, and a stack of venture capital news and happenings to get through. And to make everyone feel included, we kicked off the episode with a roll-call of new VC funds. Then, of course, we dug into the recent news out of Y Combinator . The famed accelerator is shopping around for a San […]

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