Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.
We’re back! After what I think was our first-ever break, Kate Clark and I sat down to dig into the latest startup venture news. There was a lot. We had to skip a few rounds to squeeze the show down to size, but we still hit the biggest stories.
First, Lime and Bird are raising again. In Bird’s case, the company is sticking around its last valuation, adding a few hundred million to its coffers. Lime is said to be raising a hundred million more, bringing its valuation in line with Bird’s own. When all this is said and done, and what’s expected to happen actually does, Bird and Lime could add $700 million to their bank accounts, making both scooter shops double unicorns.
Next we tucked into the Chariot shutdown. Ford’s decision to shutter its bus-van-techie-transport startup that it bought back in 2016 was surprising news. (Chariot vehicles have become a regular part of the San Francisco cityscape over the years.) The company is shuttering its U.K. operations first, followed by its U.S.-based routes.
Pivoting back to our regular fare, Slack’s financials partially leaked. Early-2018-era projections aren’t the best tool for figuring out how a company is performing today, but it’s better than nothing. Slack has lots of cash, is growing very quickly and is climbing toward the $500 million mark this year, if its old growth expectations hold up. (I tacked on Palantir’s latest into this segment as well.)
Finally, the government is partially shut down as you’ve heard. It’s blocking IPO progress for a host of companies, many of whom come from tech. How long this pileup builds will determine how soon any tech shop can debut.
It’s good to be back, and I promise to never mention Peloton again. If for no other reason than making our beloved producer laugh is verboten. Stay cool!