Alex Wilhelm
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Dell is spinning out VMware in a deal expected to generate over $9B for the company – TechCrunch

Dell is spinning out VMware in a deal expected to generate over $9B for the company – TechCrunch

announced this afternoon that it’s spinning out , a move that has been . Dell acquired VMware as part of the (announced as $67 billion) in 2015.The way that the deal works is that Dell plans to offer VMware shareholders a special dividend of between $11.5 and $12 billion. As Dell owns approximately 81% of those shares that would work out to somewhere between $9.3 and $9.7 billion coming into Dell’s coffers when the deal closes later this year.“By spinning off VMware, we expect to drive additional growth opportunities for Dell Technologies as well as VMware, and unlock significant value for...

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Alex Wilhelm
Apr 14
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Squarespace files for a direct listing on the NYSE – TechCrunch

Squarespace files for a direct listing on the NYSE – TechCrunch

Today Squarespace, a well-known software-and-hosting provider for SMB websites, released . The company is pursuing a direct listing on the New York Stock Exchange, or NYSE. It will trade under the ticker symbol “SQSP.”The company’s financial results paint the picture of a rapidly growing company that has a history of profitability. Squarespace also has listed financial results that are inclusive of some share conversions, among other matters. Its pro forma results presume that “all shares of our convertible preferred stock had automatically converted” into different types of common stock....

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Alex Wilhelm
Apr 16
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Okay, the GPT-3 hype seems pretty reasonable – TechCrunch

Okay, the GPT-3 hype seems pretty reasonable – TechCrunch

This morning TechCrunch for , a startup that employs GPT-3 to help other companies with their writing projects. GPT-3, or Generative Pre-trained Transformer 3, is a piece of AI from the OpenAI group that takes text from the user, and writes a lot more for them.As part of the process of covering the Copy.ai round, I got caught up in the idea of AI-powered writing. I’ve long been of automated writing. So when the Copy team described their very positive impressions of the GPT-3 AI writing tool to TechCrunch during an interview, I was intrigued.To scratch this newly-formed itch, I doodled...

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Alex Wilhelm
Mar 17
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Square buys majority of Tidal, adds Jay-Z to its board in bid to shake up the artist economy – TechCrunch

Square buys majority of Tidal, adds Jay-Z to its board in bid to shake up the artist economy – TechCrunch

This morning , a fintech company that serves both individuals and companies, announced that it has purchased a majority stake in Tidal, a music streaming service. The deal, , will allow artist-partners to keep their ownership in the music company.Square CEO Jack Dorsey used his other company, Twitter, this morning to explain the deal. Dorsey seemed to expect the transaction to generate skepticism — which it definitely has. In his , he asked a rhetorical question: “Why would a music streaming company and a financial services company join forces?!”Why indeed. Dorsey’s expectation is that his...

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Alex Wilhelm
Mar 4
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MealMe raises $900,000 for its food search engine – TechCrunch

MealMe raises $900,000 for its food search engine – TechCrunch

This morning , a food search engine, announced that it has closed a $900,000 pre-seed round. led the round, with participation from and .TechCrunch first became familiar with MealMe when it presented as part of the Techstars Atlanta demo day last October, mentioning it from a group of the accelerator’s startup cohorts.The company’s product allows users to search for food, or a restaurant. It then displays price points from various food-delivery apps for what the user wants to eat and have delivered. And, notably, MealMe allows for in-app checkout, regardless of the selected provider.The...

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Alex Wilhelm
Feb 24
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How the GameStop stonkathon helped Robinhood raise $3.4B last week – TechCrunch

How the GameStop stonkathon helped Robinhood raise $3.4B last week – TechCrunch

an impressive ability to raise in the past few weeks to ensure it has the funds needed to and, presumably, provide it with enough cash until it goes public. Raising $3.4 billion so quickly is an extraordinary feat.But how the company managed to get investors to wire money with such alacrity has been a curiosity; what about Robinhood was so compelling that giving it a multibillion dollar injection was such an obvious decision?The Exchange explores startups, markets and money. Read it , or get every Saturday.We got a whiff of it when we parsed Robinhood’s Q4 2020 payment for order flow (PFOF)...

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Alex Wilhelm
Feb 5
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GameStop, meme stocks, and the revenge of the retail trader – TechCrunch

GameStop, meme stocks, and the revenge of the retail trader – TechCrunch

GameStop shares are set to rally 70% this morning when trading starts, and AMC shares opened up 300%, extending a run that has perplexed market observers, irked hedge funds, and generally made crypto’s recent gains appear soft and weak.Being a retail trader is mostly being a sucker, hoping to best the markets while lacking the infrastructure, access, and information that professionals enjoy. Hell, most professional fund managers that regular folks can invest in fail to beat the market. That’s one reason why index funds and other passive investments that merely track aggregate performance...

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Jonathan Shieber
Jan 27
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Wall Street hugs Affirm as it starts life as a public company – TechCrunch

Wall Street hugs Affirm as it starts life as a public company – TechCrunch

to the races!Last night, Affirm priced its IPO above its raised range , a sign that the public markets remain hungry for new listings. Provided that Affirm today trades similarly to how it priced, we could be looking at a 2021 IPO market that resembles last year’s heated results.The Exchange explores startups, markets and money. Read it , or get every Saturday.That’s good news for a host of companies looking to follow in the financial technology unicorn’s footsteps.Poshmark prices tonight and trades tomorrow. With along , , and , we’re heading into another busy IPO quarter. Affirm’s...

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Alex Wilhelm
Jan 13
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Affirm files confidentially to go public – TechCrunch

Affirm files confidentially to go public – TechCrunch

This afternoon a startup focused on providing point-of-sale credit to consumers making online purchases, .The filing is confidential, so there’s little to be gleaned about the company’s performance from the news. That Affirm was exploring a public offering was . In the aftermath of that news, that Affirm was said to be targeting in its debut, which we placed at as much as $10 billion.Affirm has been richly funded throughout its private life. The fintech unicorn has raised private funds in excess of $1 billion, including , , and . Affirm also raised more than $400 million in earlier equity...

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Alex Wilhelm
Oct 8
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