Kate Clark
Kate Clark
Writing about venture capital & startups @theinformation | Tips to kate@theinformation.com | Signal & Telegram: 415-409-9095Source
San Francisco, CA
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Report: SoftBank is taking control of WeWork at an ~$8B valuation

Report: SoftBank is taking control of WeWork at an ~$8B valuation

WeWork, once valued at $47 billion, will be worth as little as $7.5 billion on paper as SoftBank takes control of the struggling co-working business, CNBC reports. SoftBank, a long-time WeWork investor, plans to invest between $4 billion and $5 billion in exchange for new and existing shares, according to CNBC . The deal, expected to be announced as soon as tomorrow, represents a lifeline for WeWork, which is said to be mere weeks from running out of cash and has been shopping several of its assets as it attempts to lessen its cash burn. WeWork declined to comment. To be clear, it is...

October 21, 2019
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‘Can’t Get More Crazy’: Series A Valuations Extend Record Rise

‘Can’t Get More Crazy’: Series A Valuations Extend Record Rise

Data PointFinancial software developer Orum, which disclosed a seed round over the summer, wasn’t seeking more capital when Bain Capital Ventures offered to lead its Series A investment last year. But the one-year-old startup took the money anyway and got a post-investment valuation of $100 million, according to a person with direct knowledge of the deal. Such unsolicited deals, carrying price tags once equated with more mature companies, have been driving early-stage valuations to record highs.The median pre-investment valuation for a Series A round of funding has increased sixfold to $37...

Mar 5
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Tech CEOs Are Saying Goodbye to San Francisco

Tech CEOs Are Saying Goodbye to San Francisco

ExclusivePhoto: Brex co-CEO Henrique Dubugras, Dropbox CEO Drew Houston and Splunk CEO Doug Merritt. Photos: BloombergSplunk, Dropbox and Brex followed similar formulas as they grew from small startups to established companies. To attract employees and customers, each set up elaborate San Francisco offices and plastered billboards for its services around the city. Dropbox three years ago leased a giant new office building on the city’s eastern edge. Fintech firm Brex even opened its own cafe in a neighborhood popular with venture capitalists.Now, all three companies embody a new trend:...

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Nov 23
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Austin Emerges as a Hot Spot for Silicon Valley Investors

Austin Emerges as a Hot Spot for Silicon Valley Investors

Austin’s startup scene is getting a jolt of new capital, this time from a wave of investors transplanted from Silicon Valley.Since March, Sapphire Ventures, Draper Associates, 8VC and Breyer Capital have either opened an Austin office, hired a local partner or are considering an outpost there. Austin’s lack of a state income tax, plus its lower cost of living, is attracting venture capitalists and entrepreneurs, and a push toward remote work has spurred them to rethink where they live. Local venture firms are also expanding. Third Craft, a new firm backed by former Heinz CEO William...

Sep 30
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News discovery app SmartNews valued at $1.1B

News discovery app SmartNews valued at $1.1B

A $28 million financing has made SmartNews, an AI-powered news aggregation app, a unicorn. Japan Post Capital led the Series E round, which brings the company’s total investment to $116 million and pushes its valuation to $1.1 billion. Existing investors in SmartNews include Development Bank of Japan, SMBC Venture Capital and Japan Co-Invest LP. The company, founded in Tokyo in 2012, boasts 20 million monthly active users in the U.S. and Japan. Growing at a rate of 500% per year, its audience checks into the app for a mix of political, sports, global and entertainment news curated for...

November 8, 2019
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Village Global’s accelerator introduces founders to Bill Gates, Reid Hoffman, Eric Schmidt and more

Village Global’s accelerator introduces founders to Bill Gates, Reid Hoffman, Eric Schmidt and more

Village Global is leveraging its network of tech luminaries to support the next generation of entrepreneurs. The $100 million early-stage venture capital firm, which counts as limited partners (LPs) Microsoft’s Bill Gates, Facebook’s Mark Zuckerberg, Alphabet’s Eric Schmidt, Amazon’s Jeff Bezos, LinkedIn’s Reid Hoffman and many other high-profile techies, quietly announced on Friday that the accelerator it piloted earlier this year would become a permanent fixture. Called Network Catalyst, Village provides formation-stage startups with $150,000 and three-months of programming in exchange...

November 2, 2018
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