finance

  • Looking to sell utility billing data to lenders, Urjanet rakes in $20 million

    Looking to sell utility billing data to lenders, Urjanet rakes in $20 million

    With a pitch to provide utility payment data to lending companies, Atlanta-based Urjanet has managed to raise $20 million in new financing. Lenders are hungry for new ways to loan money to consumers but are struggling to pick up borrowers among debt-wary millennials who remember the pain of the 2008 financial crisis and are unwilling to take the perceived risk of lending to potential… Read More

  • Zenrez raises another $6 million to take on ClassPass

    Zenrez raises another $6 million to take on ClassPass

    The growing fitness boutique industry sees inefficiencies when there are empty spots in a workout class. Studios often have to pay the yoga teacher the same whether there are five people or 15 who attend a session. Several startups have tried to solve this problem, by offering discounted passes to meet demand. ClassPass gained early traction with consumers, but San Francisco-based Zenrez… Read More

  • Lyft seeks $6 billion valuation in funding round

    Lyft seeks $6 billion valuation in funding round

    Lyft is out pitching to investors while competitor Uber surrounds itself in controversy. The Wall Street Journal first reported that they are chatting about a $500 million round. We’re hearing that they are targeting a roughly $6 billion valuation, slightly above the $5.5 billion they were valued at in their last private round. The timing makes sense given the failed sale process last… Read More

  • Box’s Levie touts positive cash flow

    Box’s Levie touts positive cash flow

    Cloud content management company Box posted fourth-quarter earnings after the bell on Wednesday with shares quickly plummeting in initial after-hours trading. They mostly recovered, trading down just 1 percent by late afternoon. Box beat investor expectations with an adjusted loss of 10 cents per share versus the negative 14 cents forecast. Revenue for the quarter was also a beat at… Read More

  • Snap values itself at nearly $24B with its IPO pricing

    Snap values itself at nearly $24B with its IPO pricing

    Snap has given a final price for its IPO, setting the company’s valuation at nearly $24 billion with a price of $17 per share, according to a report by The Wall Street Journal. With that, it looks like Wall Street had plenty of appetite for Snap despite multiple major concerns about the company’s business. Slowing user growth, rising burn and a dependence on Google and Amazon for… Read More

  • Could Snapchat lead to more tech IPOs?

    Could Snapchat lead to more tech IPOs?

    When Snap prices its IPO after the closing bell today, it will be the first tech company to go public this year. It will also be the largest tech company to go public in the U.S. since Alibaba debuted in 2014. Because of the dearth of recent tech offerings, all eyes will be on the Snapchat parent to see what it means for the “IPO window.” The performance of large tech offerings… Read More

  • WorkJam raises $12 million to communicate with hourly workers

    WorkJam raises $12 million to communicate with hourly workers

    There is plenty of enterprise software for the white-collar workforce, but there still isn’t an ideal way to communicate with employees who aren’t sitting at a desk. That’s the thesis behind WorkJam, which is announcing $12 million in funding from Lerer Hippeau Ventures, Blumberg Capital, Founder Collective and NovelTMT. Read More

  • Simple’s new kind of shared bank account targets unmarried partners, roommates & more

    Simple’s new kind of shared bank account targets unmarried partners, roommates & more

    Online banking service Simple today is launching a new type of banking product aimed at a younger generation of customers who want to be able to collaborate on finances with others, but aren’t in the market for traditional joint checking accounts, like those typically used by married spouses. The company’s new Shared bank accounts let customers control their own accounts from a… Read More

  • Dubuc Motors gets SEC approval for equity crowdfunding

    Dubuc Motors gets SEC approval for equity crowdfunding

    Dubuc Motors, makers of the Tomahawk all-electric supercar prototype, recently announced that the Securities and Exchange Commission (SEC) had approved its filing for equity crowdfunding under the US JOBS Act Regulation A+. The company began a Testing the Waters campaign in 2016, when it revealed the Tomahawk prototype, and raised $6.1 million in initial funding reservations. Now that the… Read More

  • Boston Dynamics’ Handle robot dominates parkour on wheels in new footage

    Boston Dynamics’ Handle robot dominates parkour on wheels in new footage

    Boston Dynamics’ wheeled Handle robot received much fanfare earlier this month when DFJ partner Steve Jurvetson slipped us an early video from a company Keynote. Today we have more details on Handle in the form of a shiny HD video. We already knew Handle could manage some pretty sick hurdles and spins, but the new video shows us how the robot can operate in tough environments —… Read More

  • IT services manager Cherwell Software joins private equity giant KKR’s growing tech portfolio

    IT services manager Cherwell Software joins private equity giant KKR’s growing tech portfolio

    With a new $50 million investment from private equity giant KKR, IT service management company Cherwell Software becomes the latest business in the firm’s growing tech portfolio. The investment, from KKR’s $711 million Next Generation Technology Fund, is the firm’s fifth deal since closing the fund last December. Cherwell Software, a Colorado Springs-based company, makes… Read More

  • K2 Global’s $183 million VC fund aims to decentralize Sand Hill Road

    K2 Global’s $183 million VC fund aims to decentralize Sand Hill Road

    K2 Global is announcing a $183 million venture capital fund targeted at early stage startups with global aspirations. The fund is closing significantly larger than the $58 million the firm initially raised. With a decentralized team and no Sand Hill Road office, K2 Global aims to bring Valley hustle to international technology investing. In contrast to well known VC firms like Sequoia and… Read More

  • Airbnb finalizes deal to buy social payments startup Tilt

    Airbnb finalizes deal to buy social payments startup Tilt

    Airbnb has finalized its deal to buy social payments startup Tilt, TechCrunch has confirmed. We reported on the acquisition talks last month, but now everything has been made official. We are told that investors will be getting back about $12 million in cash, but the deal value is tens of millions of dollars higher if you include employee retention packages, which were paid for in cash… Read More

  • Hanging out at Snap’s unremarkable IPO roadshow

    Hanging out at Snap’s unremarkable IPO roadshow

    One of the remarkable things about the roadshow presentations for hotly-anticipated IPOs — where they’ll make a pitch to investors and answer questions — is that they are often unremarkable. That seemed about the same case for Snap, which was presenting to potential investors at the Mandarin Hotel in New York this afternoon. Over lunch, a packed ballroom 30 stories up at… Read More

  • Alibaba’s Ant Financial expands to Korea with $200M investment in Kakao Pay

    Alibaba’s Ant Financial expands to Korea with $200M investment in Kakao Pay

    Alibaba affiliate Ant Financial is making yet another M&A deal. The firm is investing $200 million into a fintech project belonging to Kakao, the $5 billion firm that runs Korea’s dominant messaging service. Ant Financial, which manages payments service Alipay and Alibaba’s digital banking business, will invest the capital into Kakao Pay, a soon-to-launch Kakao fintech division. Read More

  • Temasek jumps into China’s bike-rental startup war with investment in Mobike

    Temasek jumps into China’s bike-rental startup war with investment in Mobike

    Temasek, Singapore’s state-owned investment firm, has jumped into China’s on-demand cycle war after it backed Mobike. China’s ride-sharing war is last year’s news. The big battle between Uber and Didi Chuxing is essentially over after the latter agreed to buy the former’s China-based business. The new startup drama du jour is in bikes — services that let… Read More

  • App platform company MuleSoft files for IPO

    App platform company MuleSoft files for IPO

    MuleSoft is the latest “unicorn” to file for an IPO. The company, which helps businesses like Netflix and Spotify with their APIs, has unveiled its financials to the public in an S-1 filing, suggesting that they are targeting a debut as soon as March. The size of the proposed IPO is $100 million, but that is subject to change. In the filing we see that MuleSoft had $187.7… Read More

  • Why Snap would lowball its IPO valuation

    Why Snap would lowball its IPO valuation

    The short answer for why Snap lowballed its initial valuation for its initial public offering is that it probably won’t be that low for long. Normally these prices are set by expectations the underwriters and executives can divine from their conversations with Wall Street. It’s essentially a matching game — how does Snap and its underwriters figure out where to price the… Read More