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Beware mega-unicorn paper valuations

Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between. There’s a famous old post going around Twitter this week by entrepreneur an

The great unicorn retreat

Today we're taking stock of what's happening to a number of unicorns, both public and private.

SoftBank-backed Oyo cuts salaries, furloughs employees

Oyo is furloughing more employees globally and levying a 25% pay cut across the board through July this year as the Indian budget lodging startup looks to reduce its expenses to deal with the coronavi

SoftBank expects $24 billion in losses from Vision Fund, WeWork and OneWeb investments

The Japanese technology conglomerate SoftBank Group said it would lose a staggering $24 billion on investments made through its Vision Fund and bets on the co-working real estate company WeWork and sa

India’s Oyo furloughs thousands of employees as revenue drops by over 50%

Oyo has placed thousands of employees on leave and furloughs for up to three months in the U.S. and several other markets as the Indian budget lodging firm contends the coronavirus outbreak that has c

The second wave of unicorn layoffs is brutal

This morning, let's remind go over what happened in the first wave of recent unicorn layoffs (Zume, Oyo, Uber, etc) and how it compares to what is happening today as ZipRecruiter, Bird and TripActions

SoftBank-backed Indian startup Oyo to cut 5,000 jobs globally

Oyo said on Wednesday it is laying off 5,000 people from its global workforce as the Indian budget hotel startup looks to cut its spendings and chase profitability. The latest round of job cuts would

Investors in LatAm get bitten by the hotel investment bug as Ayenda raises $8.7 million

Some of Latin America’s leading venture capital investors are now backing hotel chains. In fact, Ayenda, the largest hotel chain in Colombia, has raised $8.7 million in a new round of funding, a

Equity Monday: Oyo’s losses, global growth concerns, and four early-stage rounds

Turning to the news, global growth concerns stemming from the coronavirus outbreak are starting to come true, with Singapore changing its own forecasts. Singapore now expects either slower growth, or

As a top manager leaves amid fundraising woes, SoftBank’s vision looks dimmer — and schadenfreude abounds

Every once in a while, an organization implodes so fantastically that it’s hard in retrospect to understand why another outcome once seemed possible. With every passing day, SoftBank — whi

Latin America Roundup: Loft raises $175M, SoftBank invests in Mexico’s Alphacredit and Rappi pulls back

Brazil’s famously tricky real estate market has long drawn international investors to the region in search of tech solutions.

Startups Weekly: Tech layoffs spread (a bit)

Are January layoffs just a few post-WeWork jitters? TechCrunch has found itself writing about layoffs at a few notable tech companies this week — and not just SoftBank-backed ones. The focus is very

Are OYO’s deep cuts a reality check for unicorns?

Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between. After a short pause, we’re back on the topic of unicorn layoffs. While it&#

Rappi and Oyo pare staff as Vision Fund companies trim costs, target profits

This week we’ve covered layoffs at unicorns both inside the Vision Fund and out. This afternoon we add two more to our list: Oyo and Rappi. The staff reductions are surprising — and not. T

Startups Weekly: Oyo has issues + A farewell

In this week's newsletter: India's growing pains, Brazil's latest venture funding and how to pitch journalists.

India’s NoBroker raises $50M to help people buy and rent without real estate brokers

An Indian startup that is attempting to improve the way how millions of people in the nation lease or buy an apartment — by not paying any brokerage — just raised a significant amount of c

Oyo to invest $335M in vacation rental business in Europe push

Indian budget hotel booking startup Oyo will invest €300 million ($335 million) in its vacation home rental business, it said Wednesday, as it looks to expand its footprint in Europe and possibly cl

India’s Awfis raises $30M to grow its co-working spaces business

Speaking of businesses that operate co-working spaces in India, New Delhi-based startup Awfis announced today that it has raised $30 million in a new financing round to expand its footprint in the cou

India’s Haptik acqui-hires Los Angeles startup Convrg in international expansion push

Mumbai-based Haptik, which operates a conversational AI platform, has already won several high-profile clients in India. Now the five-year-old firm, with newly found significant capital in the bank, i

India’s Oyo valued at $10B after founder purchases $2B in shares

Ritesh Agarwal has reportedly purchased back $2 billion in shares from VC firms Sequoia and Lightspeed Venture Partners.
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