Finance

  • Greenlight is a debit card for kids that parents manage from their phones

    Greenlight is a debit card for kids that parents manage from their phones

    Greenlight, a three-year-old, Atlanta, Ga.-based startup, is trying to solve a problem that any parent of an elementary or junior high school student can well understand: how to give kids money without worrying that they’ll lose it or spend it on something they shouldn’t. It isn’t the first reloadable, prepaid card. MasterCard, Visa and American Express each offer… Read More

  • CEO Evan Spiegel’s Snap ownership is worth about $3.5 billion

    CEO Evan Spiegel’s Snap ownership is worth about $3.5 billion

    Snapchat parent Snap Inc. has finally revealed its long-awaited IPO filing. The social messaging company, which plans to go public in early March, just shared details about its growth trajectory and financials.  And while we knew that Snap has raised at least $2.4 billion in capital from a long list of investors, we now know the ownership percentages. We also know the pre-IPO values of… Read More

  • Snapchat paid Reggie Brown $157.5M to settle his ‘ousted founder’ lawsuit

    Snapchat paid Reggie Brown $157.5M to settle his ‘ousted founder’ lawsuit

    Ousted Snapchat early employee Reggie Brown was paid $157.5 million in a settlement in September 2014 to close off a 2013 lawsuit he had brought against other co-founders Evan Spiegel and Bobby Murphy, alleging that they had taken his original idea and run with it, pushing him out of the company without compensation in the process. The details were made public for the first time in… Read More

  • Snapchat international user growth slowed in the second half of 2016

    Snapchat international user growth slowed in the second half of 2016

    Snapchat parent Snap Inc. wanted to present a growing and and highly engaged user base today in its bid to go public. But there are reasons for concern, especially when you look more closely at user growth in Europe and the rest of the world With the release of the company’s S-1 filing today, Snap revealed that at the end of 2016 the company had 158 million daily active users who… Read More

  • Amazon fumbles earnings amidst high expectations

    Amazon fumbles earnings amidst high expectations

    Mixed faces in Seattle today as Amazon delivered its Q4 2016 earnings. The e-commerce company reported lower than expected revenue of $43.74 with better than expected earnings per share of $1.54. Expectations had been high in the run up to the release. Wall Street consensus was that Amazon would deliver revenue of $44.68 billion with $1.35 earnings per share. In the immediate moments… Read More

  • Cuban: “Just plain stupid” to not go public

    Cuban: “Just plain stupid” to not go public

    Billionaire entrepreneur Mark Cuban spoke on stage at the Upfront Summit in Los Angeles on Thursday, where he voiced concern about the lack of tech IPOs recently. “I don’t understand the reticence to going public,” he said. “It’s just plain stupid.” After a slow 2016, there have yet to be any tech IPOs in 2017. AppDynamics was supposed to debut in January… Read More

  • Sources: Spotify may delay IPO to 2018 as it rethinks licensing deals

    Sources: Spotify may delay IPO to 2018 as it rethinks licensing deals

    Spotify — the music streaming company with over 100 million users (40 million of them paying) — has long been seen as one of the more likely candidates among larger tech startups to go public in 2017, but it looks like this plan may be shifting. TechCrunch has heard from multiple sources that the company is now weighing a plan to delay an IPO until 2018. The delay… Read More

  • H&R Block is now using IBM Watson to find tax deductions

    H&R Block is now using IBM Watson to find tax deductions

    Getting your taxes done is miserable. It’s complicated, time-consuming and costly — particularly for people whose financial situation requires them to seek help from tax professionals. The process is such a mess, even for said professionals, that H&R Block, one of the largest tax services providers, is partnering with IBM Watson to help make the process go more smoothly. Read More

  • SoFi buys Zenbanx to offer banking and money transfer services to its users

    SoFi buys Zenbanx to offer banking and money transfer services to its users

    Online lending firm SoFi announced today that it has acquired Zenbanx, a startup that offers banking, debit, payments and money transfer services to users online and through a mobile app. The combination of the two will allow SoFi to move deeper into the financial lives of its customers. While today it focuses on student-loan refinancing, mortgages and personal loans, integrating Zenbanx… Read More

  • ForeScout Technologies filed confidentially for IPO

    ForeScout Technologies filed confidentially for IPO

    ForeScout has filed confidentially for an IPO, TechCrunch has confirmed. The security company has submitted its S-1 and will be unveiling it to the public closer to its debut. The IPO is likely to happen in the next few months, with an exact date yet-to-be-determined. The JOBS Act from 2012 made it so that the companies could work on revisions to their filings without public scrutiny. It has… Read More

  • Yomoni raises $5.4 million for its automated portfolio management service

    Yomoni raises $5.4 million for its automated portfolio management service

    French startup Yomoni is a promising fintech startup operating robo-advisors. It means that you can give the company some of your savings, and the startup automatically manages a portfolio for you, buying and selling stocks, bonds and more. Yomoni just raised $5.4 million from existing investors Crédit Mutuel Arkéa and Iéna Venture (€5 million). The management team is also buying back some… Read More

  • Korea’s AIM raises $1.6M for its mobile trading service

    Korea’s AIM raises $1.6M for its mobile trading service

    Seoul-based startup AIM has closed $1.6 million in seed funding to bring its artificial intelligence-powered app for financial investments to market in Korea, and potentially other parts of Asia. The fintech company has developed a system which works alongside existing investment institutions to allow users in Korea to make trades and investments via their smartphone. So rather than a… Read More

  • Raising a $32M Series A, Knock seeks to stand out with new model for selling homes

    Raising a $32M Series A, Knock seeks to stand out with new model for selling homes

    Online real estate service Knock is finishing up a $32 million Series A round led by RRE Ventures. The new company, founded by former Trulia executives, promises to handle the details of home sales in exchange for the traditional six percent commissions. Unlike legacy sellers, though, Knock promises you market-rate returns on your house in advance. And if, for whatever reason, your… Read More

  • Apple breaks iPhone sales record with 78.3 million units sold in the holiday quarter

    Apple breaks iPhone sales record with 78.3 million units sold in the holiday quarter

    With another big holiday quarter behind it, Apple saw revenues from its flagship iPhone product rise to $54.4 billion, up from $51.6 billion a year earlier. That revenue growth came as Apple reported units sold rose 5 percent to 78.3 million in its fiscal first quarter of 2017. That was a record for sales, and also beat analysts expectations by a couple of million. Wall Street forecast… Read More

  • Apple shares up 3% after company beats earnings expectations

    Apple shares up 3% after company beats earnings expectations

    Apple’s latest quarter surpassed earnings expectations, sending the stock up about 3% in initial after-hours trading. Its fiscal first quarter of 2017 saw record earnings of $3.36 per share, well above the $3.21 forecast by Wall Street. Revenue also beat, coming in at $78.4 billion, versus the $77.3 analysts were predicting. Investors were pleased that the company sold 78.3 million… Read More

  • Qvivr raises $5M to move beyond its all-in-one credit card

    Qvivr raises $5M to move beyond its all-in-one credit card

    Qvivr, a Silicon Valley-based FinTech startup originally known for building the SWYP programmable credit card, has raised $5M in Series A funding. The funding was led by Khosla Ventures, with participation from a large multinational Asian bank. The startup was founded in 2014 and originally launched with a pre-order campaign for a hardware product that would let users program all of their… Read More

  • CB Insights: 3,358 tech exits in 2016, ‘unicorn births’ down 68%

    CB Insights: 3,358 tech exits in 2016, ‘unicorn births’ down 68%

    We’ve kicked off 2017 with a surprise acquisition of what was planned to be the first big IPO of the year — Cisco snapping up AppDynamics for $3.7 billion, just days before its public listing — and what many believe will be an IPO filing for Snapchat’s parent Snap. But in contrast, it appears that 2016 represented a shift less frothy times. CB Insights has published… Read More

  • Apple revenue could grow again thanks to the iPhone 7

    Apple revenue could grow again thanks to the iPhone 7

    Apple will report its holiday quarter earnings tomorrow. Once again, all eyes will be on the iPhone. The device now represents the vast majority of the company’s revenue. So anything that can affect iPhone sales is a big deal. And if you’ve been paying attention to Apple’s past earnings, you know that Apple has had a complicated year. In short, revenue has been down for… Read More

  • Snap to list on New York Stock Exchange

    Snap to list on New York Stock Exchange

    Snap, the parent of Snapchat, will be listing on the New York Stock Exchange, TechCrunch has confirmed. The news was first reported by the Wall Street Journal. This means that you can expect to see a big Snapchat banner on Wall Street and that executives will probably be ringing the opening bell when the company debuts, likely in March. The move sends the message that Snap wants its IPO… Read More

  • Square encourages Apple Pay payments with processing credit

    Square encourages Apple Pay payments with processing credit

    Square partnered with Apple for a promotion when customers use Apple Pay. Starting today, Square merchants won’t pay any processing fee for the first $12,000 in Apple Pay transactions — that represents around $350 in fees. In addition to this promotion, sellers can also get a free marketing kit (with Apple Pay stickers probably) and training materials to tell employees how Apple… Read More