Category Archives: Peter Thiel

Brex, the credit card for startups, raises $100M debt round

Brex, widely known for its billboards littered across San Francisco, has secured a $100 million debt financing from Barclays Investment Bank . The company, which provides a corporate credit card designed specifically for startups, has previously raised $215 million in equity funding at a $1.1 billion valuation in the less than two years since it graduated from the Y Combinator startup accelerator. Debt, Brex chief executive officer Henrique Dubugras tells TechCrunch, will power the company’s next phase of growth, which includes the launch of a credit card […]

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Forge acquires IRA Services to expand offering for private company shares

Forge, the marketplace for trading private company shares formerly known as Equidate, announced that it will be acquiring custodial trust company IRA Services for a purchase price of $55 million. IRA Services is a trust company that provides custodial services for retirement accounts managed by individuals and mid-to-large sized Institutions. Stripped of financial jargon, the primary function of a custodian is to hold on to (or maintain “custody” of) its clients’ securities and keep them safe from potential external complications such as theft or otherwise. Many custodians, […]

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Distinguished VCs back wholesale marketplace Faire with $100M at a $535M valuation

A slew of venture capitalists known for high-profile exits — Kirsten Green of Forerunner Ventures, Keith Rabois of Khosla Ventures, Alfred Lin of Sequoia Capital and Alex Taussig of Lightspeed Venture Partners — have invested in Faire (formerly known as Indigo Fair), a 2-year-old wholesale marketplace for artisanal products. A quick glance at Faire suggests it’s a combination of Pinterest and Etsy, complete with trendy, pastel stationery, soap, baby products and more, all made by independent artisans and sold to retailers. Faire has today announced a $100 million […]

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Summersalt raises $6M for its direct-to-consumer line of eco-friendly swimsuits

Founders Fund has led the $6 million Series A for Summersalt, an early-stage e-commerce startup embracing the next-gen consumer’s penchant for inclusivity and affordability. Headquartered in St. Louis, the 1-year old company sells swimsuits designed in-house with eco-friendly fabrics directly to consumers. Like other D2C brands, Summersalt cuts out the middlemen to give its customers access to its swimsuits for $95 or less. What sets it apart is its data-focused fit system. With a patent on recommending garments based on body type and consumer preference, it uses more […]

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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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VCs say Silicon Valley isn’t the gold mine it used to be

In the days leading up to TechCrunch Disrupt SF 2018, The Economist published the cover story, ‘Why Startups Are Leaving Silicon Valley.’ The author outlined reasons why the Valley has “peaked.” Venture capital investors are deploying capital outside the Bay Area more than ever before. High-profile entrepreneurs and investors, Peter Thiel, for example, have left. Rising rents are making it impossible for new blood to make a living, let alone build businesses. And according to a recent survey, 46 percent of Bay Area residents want to get the […]

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