-
Uber investor Shervin Pishevar petitions Benchmark to step down from board and sell some of its stock
Shortly after a group of Uber shareholders asked Benchmark to relinquish its spot on Uber’s board of directors, Sherpa Capital’s Shervin Pishevar is petitioning Benchmark via Change.org to remove itself from Uber’s board. The petition also asks Benchmark to sell at least 75 percent of its stock so that the firm no longer has rights to appoint members to Uber’s board… Read More
-
500 Startups shuts down its Canada fund
Following sexual harassment allegations that led to the resignation of 500 Startups co-founder Dave McClure, it’s now emerged that the troubled VC firm has abandoned its Canada fund. According to reports in The Globe and Mail and BetaKit, the saga made it difficult to move forward with the next phase of 500 Canada, where it had a profit-sharing relationship. The firm was in the process… Read More
-
Every member of Hampton Creek’s board has stepped down except for the CEO
Hampton Creek is in the news again — and not for the reasons it would like to be. Hampton Creek’s entire board of directors have left, except for CEO Josh Tetrick. Read More
-
Google responds to academic funding controversy — with a GIF
Last week, an advocacy group called Campaign for Accountability (CfA) released a list of academics and policy experts who had received funding from Google in the last few years. That created quite a stir, especially because many of the scholars on the list didn’t think they should have been included in this list in the first place. Read More
-
SoundCloud sinks as leaks say layoffs buy little time
A tense scene unfolded yesterday as user-generated music streaming service SoundCloud held an all-hands meeting to explain to employees why it suddenly had to lay off 40 percent of its staff last week. Exiting team members wanted to know why they weren’t warned, while those who survived the cuts wanted assurance that the cost reductions would keep the company afloat for the long-run. Read More
-
Vizio files $100M lawsuit against LeEco
Last summer LeEco announced it intended to purchase the U.S.-based TV maker Vizio for $2 billion. The deal fell through in March amid myriad problems surrounding LeEco, including a major cash crunch. Allegedly the deal included a $100 million buyer-termination fee and now Vizio has filed suit in a California court to collect payment. Read More
-
The hunted becomes the hunter: How Cloudflare’s fight with a ‘patent troll’ could alter the game
Matthew Prince knew what was coming. The CEO of Cloudflare, an internet security company and content delivery network in San Francisco, was behind his desk when the emails began. College classmates-turned-defense attorneys were reaching out to say hello and to ask: did Prince perhaps need help to fight a lawsuit they’d seen filed against Cloudflare? Read More
-
In new filing, Uber says it was unaware of Waymo data theft prior to lawsuit
In response to a series of questions posed by District Judge William Alsup, Uber claims that no one there was aware of any proprietary information taken from Waymo until that company had filed its lawsuit. Read More
-
Binary Capital co-founder Justin Caldbeck quits as Matt Mazzeo steps away from the firm
Justin Caldbeck, the co-founder of Binary Capital, and Matt Mazzeo, the firm’s newest partner, have both resigned from the venture firm, according to a statement from the firm’s remaining co-founder Jonathan Teo. Read More
Latest Crunch Report
-
For Binary Capital’s investors, a public apology may fall short
In May of last year, speaking on behalf of his firm, venture capitalist Justin Caldbeck of Binary Capital tweeted: “Big believers in ‘addition by subtraction’ for company culture. Bad apples impact others, and rest of team will thank you when they’re gone.” His messaging seems ironic in light of a detailed report about his own predatory behavior toward at least… Read More
-
Woman raped by an Uber driver in India is now suing the company for privacy violations
A woman raped by her Uber driver in India is suing both the company and three current and former top executives after it was revealed Eric Alexander, the company’s president of business in Asia Pacific, had accessed and was carrying around her medical records. The woman, a Texas resident identified as Jane Doe in the case, is suing for intrusion into private affairs, public disclosure… Read More
-
No acting CEO at Uber, no problem?
Instead, Kalanick told employees, the company will be run by his direct reports. Meanwhile, owing to the results of a probe led by former U.S. attorney general Eric Holder — who was hired to look into allegations of harassment, bullying, and discrimination at the company — some of Kalanick’s responsibilities will be shared or given outright to other senior executives when he… Read More
-
Uber investors who called it “toxic” are satisfied by plans for change
Freada and Mitch Kapor broke rank with typical investor silence in the face of scandals at their portfolio companies by publicly criticizing Uber in February, saying it was “toxic” and had “a culture plagued by disrespect, exclusionary cliques, lack of diversity, and tolerance for bullying and harassment of every form.” But today, the couple who invested in Uber starting… Read More
-
Uber delivers letter of sexual harassment probe recommendations
Former Attorney General Eric Holder and his law partner Tammy Albarrán announced some highly anticipated recommendations based on an internal harassment probe to employees in an all-hands meeting this morning. The board agreed, after several hours on Sunday to adopt all 10 recommendations given by law firm Covington & Burling LLP, where Holder and Albarrán are partners. You can read… Read More
-
Uber’s board is discussing a leave of absence for Travis Kalanick; will Garrett Camp replace him?
According to a variety of media reports, Uber’s board is meeting in Los Angeles today in what may be the most critical sit-down in the company’s eight-year history. The biggest item on the agenda, according to the New York Times, is whether or not cofounder and embattled CEO Travis Kalanick should take a leave of absence. How strongly the board pushes for this will likely depend on… Read More
-
Judge denies Uber’s request for stay in Waymo suit
The lawsuit between Uber and Waymo, the self-driving car subsidiary of Google’s parent company Alphabet, is still on track to go to trial in early October, as the judge in the case denied Uber’s request for a stay pending its appeal for arbitration. Read More
-
Uber has fired more than 20 people over harassment probe
Uber has fired more than 20 people involved in a harassment probe, TechCrunch has confirmed. The ride share company began investigating at least 215 employees after the company was hit with sexual harassment claims earlier this year and has so far found at least 20 employees to be at fault in a wide array of discriminatory, bullying and other harassing actions. First reported in Bloomberg… Read More
-
Despite recent controversy, Tanium announces a $100 million secondary sale
Tanium hasn’t had the best year, but a new stock sale is telegraphing that while the company may be down, it’s far from out. This morning, the 10-year-old company, whose technology enables organizations to continuously scan all endpoints in a network to detect vulnerabilities and unmanaged devices, is announcing it has raised $100 million led by the private equity firm TPG. Read More
-
This venture-backed company just filed for Chapter 11 bankruptcy to resolve a patent dispute
In the world of venture-funded companies, not much surprises industry observers. Yet a new strategy by one privately held company might have founders and venture investors wondering if it’s a maneuver worth replicating. What happened: The U.S. subsidiary of a venture-backed search optimization company called Searchmetrics just filed for Chapter 11 bankruptcy protection in Delaware. Read More
Message Us