Finance

  • SoftBank says that Benchmark and Menlo intend to sell Uber shares

    SoftBank says that Benchmark and Menlo intend to sell Uber shares

    SoftBank Group has confirmed that it has found likely sellers for the tender offer for Uber’s shares, which launched tonight. These are the shares from existing shareholders that will be sold at more than a 30% discount to Uber’s last private round.  The Japanese investment firm provided us with the following statement. “SoftBank and Dragoneer have received indications… Read More

  • Japanese bitcoin exchange bitFlyer is coming to the US

    Japanese bitcoin exchange bitFlyer is coming to the US

    Japanese cryptocurrency exchange bitFlyer announced today it’s expanding to the U.S., with approval to operate in 42 states starting today. This includes regulatory approval in New York via the state’s Department of Financial Services’ “BitLicense”, which only five other cryptocurrency companies currently have. For comparison, Coinbase has approval to operate in… Read More

  • SoftBank makes offer for Uber shares at 30% discount

    SoftBank makes offer for Uber shares at 30% discount

    A SoftBank Group-led team of investors has made an offer to buy Uber’s shares in a tender offer that would value the company at about a 30% discount to Uber’s last private valuation of nearly $70 billion, a source with knowledge of the proposed deal tells TechCrunch. We’re hearing that the proposed price per share is $32.96, which works out to under $50 billion. Bloomberg… Read More

  • Stitch Fix defies odds, soars over 50% since lackluster debut

    Stitch Fix defies odds, soars over 50% since lackluster debut

    It’s been just ten days since Stitch Fix debuted on the stock market, and it has risen almost 54 percent since that time. It’s an astonishing feat for the  fashion styling business, which got off to a rough start, but quickly turned things around as it started to gain momentum by its third day of trading and soared 24 percent today, better known as “Cyber… Read More

  • Macy’s credit card processors stop working on Black Friday

    Macy’s credit card processors stop working on Black Friday

    It’s one of the biggest shopping days of the year, but retail giant Macy’s can’t get its credit card processors to work. Customers have been waiting in lines across the United States to buy discounted items, only to find out that the machines won’t take credit cards or gift cards. Some Bloomingdale’s stores, which are owned by Macy’s, may have also been… Read More

  • Equity podcast: Stitch Fix and Sailpoint get their IPOs done

    Equity podcast: Stitch Fix and Sailpoint get their IPOs done

    Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines. This week we assembled the full crew — Matthew Lynley, Katie Roof and Alex Wilhelm — along with Stephanie Palmeri from Uncork Capital. Palmeri has invested in Poshmark, Chariot, and ClassDojo, for context. Her investment in Poshmark made her a… Read More

  • Revolut now has a million customers for its banking alternative

    Revolut now has a million customers for its banking alternative

    Fintech startup Revolut has reached a big milestone. The company now has over a million customers across Europe two years and a half after launch. The company says that customers have saved $160 million in foreign exchange fees compared to a traditional bank account (£120 million). The startup tries to match the interbank rates as much as possible and charges 0.5 percent on your transaction… Read More

  • DreamQuark beefs up financial services through artificial intelligence

    DreamQuark beefs up financial services through artificial intelligence

    Meet DreamQuark, a French startup that wants to help banks, insurance companies and asset management firms with all of their artificial intelligence needs. DreamQuark crunches your data, creates models based on machine learning and lets you apply those models on all past and future data points. Many banks still rely on COBOL code to compute all sorts of financial operations. COBOL is a… Read More

  • What is an IPO pop and why do VCs hate it so much?

    What is an IPO pop and why do VCs hate it so much?

    Over the weekend, several VCs tweeted that my headline recapping Stitch Fix’s first day of trading was too harsh. The headline read, “Stitch Fix up just 1% on first day of trading, after reducing size of IPO.” I didn’t say it “fumbled” or label it as “weak” and “disappointing” like many other media publications, but that would… Read More

  • 100 cryptocurrencies described in four words or less Crunch Network

    100 cryptocurrencies described in four words or less

    This list describes cryptocurrencies. Each gets four words. There are many. Some are landmarks. Some are scams. Hopefully this provides orientation. Read More

  • Silicon Valley could be the next hotspot for SEC whistleblowers Crunch Network

    Silicon Valley could be the next hotspot for SEC whistleblowers

    In recent years, the SEC has had greater success policing wrongdoing due in large part to the implementation of its whistleblower program. But the whistleblowers’ crosshairs are not limited to Wall Street. Individuals are beginning to come forward in a new sphere of the business world, one with its own reputation of a problematic, win-at-all-cost culture: Silicon Valley. Read More