Category Archives: jeff bezos

Online used car startup Shift adds another $40M, snags COO in road to IPO

Online used car startup Shift Technologies has tacked on another $40 million in equity funding, hired a new COO with Amazon and Enjoy roots and scaled up its engineering staff — all in the past several months — as the company aims to double its revenue this year. The recent activity, along with what executives have told TechCrunch is a diligent focus on unit economics, is all directed toward a larger objective to take the company public sometime in 2021. Shift, which is based in San Francisco, […]

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Unicorns aren’t profitable, and Wall Street doesn’t care

In Silicon Valley, investors don’t expect their portfolio companies to be profitable. “Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies,” a bible for founders, instead calls for heavy spending on growth to scale in an Amazon -like fashion. As for Wall Street, it’s shown an affinity for stock in Jeff Bezos’ business, despite the many years it spent navigating a path to profitability, as well as other money-losing endeavors. Why? Because it too is far less concerned with profitability than market opportunity. Lyft, a ride-hailing company […]

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Pioneer Square Labs is invigorating Seattle’s startup ecosystem

Three miles from Seattle’s South Lake Union neighborhood — better known as Amazonia to locals — sits Pioneer Square. The original heart of the city, the area has managed to hold on to its decades-old charm as other parts of town are besieged by Amazon-contracted architects. On a mission to champion Seattle’s unique entrepreneurial DNA, startup studio Pioneer Square Labs has not only adopted the neighborhood’s moniker but established its fast-growing HQ at its center. Pioneer Square Labs, or PSL, cropped up in 2015 to create, launch […]

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Dreaming of Mars, the startup Relativity Space gets its first launch site on Earth

3D-printing the first rocket on Mars. That’s the goal Tim Ellis and Jordan Noone set for themselves when they founded Los Angeles-based Relativity Space in 2015. At the time they were working from a WeWork in Seattle, during the darkest winter in Seattle history, where Ellis was wrapping up a stint at Blue Origin . The two had met in college at USC in their jet propulsion lab. Noone had gone on to take a job at SpaceX and Ellis at Blue Origin, but the two remained in […]

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Alphabet spins off moonshot project Malta with backing from Gates’s BEV fund

Malta, the renewable energy storage project born in Alphabet’s moonshot factory X, is now on its own and flush with $26 million from a Series A funding round led by Breakthrough Energy Ventures . Concord New Energy Group and Alfa Laval also invested in the round. Project Malta launched last year in Alphabet’s X (formerly Google X) with an aim to build energy storage facilities that can support full-scale power grids. The independent company spun out of Alphabet is now called Malta Inc. Malta Inc. has developed a system designed […]

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Confirmed: ShopRunner acquires Spring, raises $40M

ShopRunner chief executive Sam Yagan conquered the online dating world. Can he conquer the e-commerce world, too? Hot off the heels of its first profitable year, ShopRunner is announcing its first infusion of venture funding under Yagan, an acquisition of the shopping app Spring and, sources tell TechCrunch, it’s readying a major overhaul to its mobile app, signaling what could be a new era for the company. Yagan, the co-founder of OkCupid, former CEO and vice chairman of The Match Group and managing director of the venture fund […]

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Watch Blue Origin’s most critical rocket launch right here

The launch is scheduled for 11:00 am EDT on July 18, 2018. Blue Origin is about to preform a critical rocket test. For the first time Jeff Bezos’ rocket company will send send its New Shepard rocket to its red line at the edge of space and then fire the escape motor on the capsule that will carry passengers. If this test goes well, Blue Origin’s New Shepard program could become operational as early as this year. This is the ninth mission for the New Shepard program […]

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