Finance

  • NextGenVest Uses Snapchat To Send Money Tips To Millennial Students

    NextGenVest Uses Snapchat To Send Money Tips To Millennial Students

    NextGenVest, a startup out of New York, is setting out to become a new kind of trustworthy financial entity. And to do that, it’s tackling a big problem. Every year in the US a staggering $2.9 billion goes unclaimed in students grants because the financial aid process has become tortuously complex. Furthermore, the ratio of guidance counselors to students is 500 to 1 nationally, with 20%… Read More

  • Spotify Is Raising Another $500M In Convertible Notes With Discounts On IPO Shares

    Spotify Is Raising Another $500M In Convertible Notes With Discounts On IPO Shares

    A week after streaming music company Deezer announced that it had raised another $109 million from existing investors, news has leaked out that its bigger rival Spotify is raising again, too. The Stockholm-based company whose music streaming service works in 58 countries is seeking to pick up an extra $500 million from investors in the form of convertible notes, according to a report in… Read More

  • Foreign Exchange Weighs On Apple’s Q1 Sales To The Tune Of $5B

    Foreign Exchange Weighs On Apple’s Q1 Sales To The Tune Of $5B

    Apple today reported another record set of results, beating expectations with an all-time high profit of $18.4 billion and revenues of $75.9 billion, with some $216 billion in cash now on its balance sheet. But it could have made even more were it not for the strength of the dollar compared to other currencies. The iPhone maker said that in constant currency, Q1 2016 revenue “would… Read More

  • VMware Confirms Layoffs In Earnings Statement As It Prepares For Dell Acquisition

    VMware Confirms Layoffs In Earnings Statement As It Prepares For Dell Acquisition

    VMware confirmed that it was laying off 800 employees today as part of its fourth quarter earnings statement. The layoffs had been originally reported by Fortune last week. The move appears to be part of the ongoing dance among EMC federated companies prior to the Dell acquisition expected to go through later this year. Dell announced it was buying EMC in October for $67 billion. EMC owns… Read More

  • A Year After IPO, Depressed Stock Price Not Bringing Box CEO Down

    A Year After IPO, Depressed Stock Price Not Bringing Box CEO Down

    It was just about a year ago that Box finally pulled the trigger and IPOed. It was a good day by all accounts, with an IPO price of $14 that promptly went up to $23 a share. Today that price sits below $10 a share, well below that $14 launch price and light years from that heady first day close. All that said, Box CEO Aaron Levie reports he has no regrets about going public and insists he… Read More

  • The Evolving Nature Of P2P Lending Marketplaces Crunch Network

    The Evolving Nature Of P2P Lending Marketplaces

    In March 2014, The Economist published Banking without banks, declaring that peer-to-peer (P2P) lending platforms were set to disrupt banks and other traditional sources of capital by directly connecting borrowers to individual lenders. In the past few years, the so-called P2P lending industry has certainly experienced tremendous growth, with origination volume doubling annually, reaching… Read More

  • LendUp Scores $150M For A Credit Card That Won’t Screw You Over

    LendUp Scores $150M For A Credit Card That Won’t Screw You Over

    Banks are so greedy that LendUp can undercut them, help people avoid debt, and still make a profit on its payday loans and credit card. Not only is software eating finance, but morality is too. LendUp’s slogan is “Ladders Not Chutes”. Building a business that doesn’t try to exploit everyone has not only brought it years of double-digit monthly growth. LendUp has now… Read More

  • From Barter To Bitcoin Crunch Network

    From Barter To Bitcoin

    The only security in this world is a reserve of knowledge, not money – so said the industrialist Henry Ford. Whether it’s the dollar, pound, rouble, rupee, euro or yuan, physical or digital, our entire world is built on currency exchange. But from barter, banknote to bitcoin, the means of exchange have evolved significantly. Read More

  • Online Lending Platform WeLab Gets $160M Series B To Expand In China

    Online Lending Platform WeLab Gets $160M Series B To Expand In China

    WeLab, an online lending platform based in Beijing and Hong Kong, will launch more financial products in China after landing an impressive $160 million Series B. The round was led by Khazanah Nasional Berhad, Malaysia’s strategic investment fund, with participation from ING Bank and Guangdong Technology Financial Group, which is run by the Chinese government. Read More

  • Jack Dorsey Has A Lot Of Work To Do

    Jack Dorsey Has A Lot Of Work To Do

    Twitter stock is seeing a mini-rally today after hitting an all-time low yesterday, on rumors that News Corp was eyeing a tie-up with the company. Twitter didn’t comment on the report, and News Corp apparently denied the rumor, but the fact that the rumor surfaced and picked up speed so quickly points to just how precarious the company feels right now as a public stock and perhaps as… Read More

  • BlueVine Raises $40 Million To Help Small Businesses With Cash Flow

    BlueVine Raises $40 Million To Help Small Businesses With Cash Flow

    Another big bet on fintech, Palo-Alto based BlueVine has raised $40 million to provide credit lines for small businesses. The round is led by Menlo Ventures, with participation from Rakuten, Lightspeed and 83North. While there are countless startups involved in small business lending, BlueVine does something a little different. Instead of offering loans, BlueVine does what’s called… Read More

  • After Cancelling Its IPO, Deezer Raises Another $109M From Access And Orange

    After Cancelling Its IPO, Deezer Raises Another $109M From Access And Orange

    Deezer, the Paris-based music and other audio streaming service with 6.3 million users that planned but ultimately cancelled an IPO last year, has now tapped existing investors for more funding. Today the company is announcing that it has raised another €100 million ($109 million), led by Warner Music Group owner Access Industries and with participation also from French carrier… Read More

  • Bitcoin Exchange Kraken Acquires Coinsetter To Expand To The U.S.

    Bitcoin Exchange Kraken Acquires Coinsetter To Expand To The U.S.

    According to Bitcoinity, Kraken is the largest EUR bitcoin exchange in the world with Bit-x and Gatecoin not far behind. But Kraken has one weakness — there isn’t much volume when it comes to other currencies. The company is trying to fix that by acquiring Coinsetter to expand to the U.S. and Canada — for real this time. Read More

  • HTC Denies Reports It Will Spin Its VR Business Into A Standalone Company

    HTC Denies Reports It Will Spin Its VR Business Into A Standalone Company

    Virtual reality is becoming a major focus for struggling smartphone maker HTC, but not so major that it will spin out its VR business into a standalone company. Read More

  • A Global Perspective Of Israeli Tech In 2015 Crunch Network

    A Global Perspective Of Israeli Tech In 2015

    From the Chinese stock market crash that shook global equity markets to the obsession with hunting for unicorns, 2015 was a year filled with volatility and non-traditional capital flowing into the private markets. Israel felt the effects of these global trends. Whether it’s sectors like cyber and fintech heating up or syndications and co-investments leading to increased round sizes… Read More

  • Twitter, And Pretty Much Everyone Else, Had A Bad Day

    Twitter, And Pretty Much Everyone Else, Had A Bad Day

    Today was not a good day for tech stocks. Universally, tech stocks crashed today alongside everything else, erasing billions in value across the board, as part of a bad day overall for the market. There’s not a whole lot of confidence throughout the market, but tech — even bellwethers like Apple — weren’t safe today. That being said, some stocks got particularly hammered… Read More

  • Mobile Payment Platform Minkasu Raises $1M Seed Round

    Mobile Payment Platform Minkasu Raises $1M Seed Round

    It faces several formidable rivals, but Minkasu believes it has developed the easiest way to make mobile payments. The startup’s iOS and Android app stores encrypted credit card information, does not need passwords, and lets shoppers complete transactions with one click. Read More

  • With $90 Million In New Funding And Unicorn Status, Anaplan Looks Ahead to IPO

    With $90 Million In New Funding And Unicorn Status, Anaplan Looks Ahead to IPO

    Anaplan announced a $90 million round today at a valuation of S1.09 billion after funding, putting the company squarely in unicorn territory, those companies with valuations of a billion or more. What’s more, CEO Fred Laluyaux said this will be the last private round prior to an IPO some time in “the not-too-distant future.” To that end, he announced that the company… Read More

  • CoinDesk Gets Acquired By Digital Currency Group

    CoinDesk Gets Acquired By Digital Currency Group

    CoinDesk, one of the leading bitcoin news sites, has been acquired by Digital Currency Group according to a post on the company’s site. A source close to CoinDesk tells TechCrunch the price of the deal was around $500-600k. The bitcoin news site, which launched in 2013, had raised around $2 million in undisclosed funding from investors and according to our source had been trying to sell… Read More

  • Singapore-based Xfers Lands $2.5M To Simplify Bank Transfers For Online Sellers

    Singapore-based Xfers Lands $2.5M To Simplify Bank Transfers For Online Sellers

    Xfers, a startup that wants to simplify bank transfers, announced today that it has raised a $2.5 million seed round. Based in Singapore, Xfers plans to use the funding to expand into Indonesia during the first quarter of this year before tackling other markets in Southeast Asia. The Y Combinator alum will also continue building its technology platform, which can be integrated with many… Read More