Uber is now requiring the same good behavior from riders that it has long expected from its drivers. Uber riders have always had ratings, but they were never really at risk of deactivation — until now. Starting today, riders in the U.S. and Canada are now at risk of deactivation if their rating falls significantly … Continue reading Uber will start deactivating riders with low ratings
Entrepreneurship
Logz.io lands $52M to keep growing open source-based logging tools
Logz.io announced a $52 million Series D investment today. The round was led by General Catalyst. Other investors participating in the round included OpenView Ventures, 83North, Giza Venture Capital, Vintage Investment Partners, Greenspring Associates and Next47. Today’s investment brings the total raised to nearly $100 million, according to Crunchbase data. Logz.io is a company built … Continue reading Logz.io lands $52M to keep growing open source-based logging tools
The controversy over WeWork’s $47 billion valuation and impending IPO, explained
In social terms, WeWork — recently renamed the We Company — is one of the modern world’s least controversial high-flying private startups. Centered on the idea of providing flexible workspaces to individuals and small groups, the company has none of the myriad regulatory issues afflicting an Uber or an Airbnb. But purely considered as an … Continue reading The controversy over WeWork’s $47 billion valuation and impending IPO, explained
Former FDA chief Scott Gottlieb has rejoined the venture world — but he hasn’t forgotten Juul
Scott Gottlieb, the former Food and Drug Administration chief, became known during his tenure for his efforts to regulate the tobacco and e-cigarette industries — and for his particular focus on Juul, the fast-growing e-cigarette company that Gottlieb squarely blames for creating a “youth epidemic” of e-cigarette use by teenagers. Indeed, when he announced that … Continue reading Former FDA chief Scott Gottlieb has rejoined the venture world — but he hasn’t forgotten Juul
Palantir’s Hotly Anticipated IPO Set to Slide to 2020
Palantir is among the world’s most richly valued and most powerful tech startups, after spending 15 years on the private markets and amassing more than $2 billion in funding. It’s also one of the most hotly anticipated IPOs of this year. But while the data-mining company has told some investors it could go public in the second … Continue reading Palantir’s Hotly Anticipated IPO Set to Slide to 2020
Salesforce’s Success Rides on One Man’s Gut
Marc Benioff wanted everyone to know the statue was “a very, very big deal.” The software billionaire, a lover of all things Hawaiian, spent $7.5 million at auction in late 2017 for a centuries-old carving of the war god Ku and made a show of donating it to a museum in Honolulu last spring. Hawaii … Continue reading Salesforce’s Success Rides on One Man’s Gut
DoorDash, now valued at $12.6B, shoots for the moon
More than five years ago, Sequoia partner Alfred Lin called Tony Xu, the founder of a small on-demand delivery startup called DoorDash, to say he was passing on the company’s seed round. This was, of course, before venture capital funding in food delivery startups had taken off. DoorDash, launched out of Xu’s Stanford graduate school … Continue reading DoorDash, now valued at $12.6B, shoots for the moon
Elon Musk’s Boring Company lands $48.7M contract for underground ‘people mover’ in Las Vegas
The Boring Company (TBC), Elon Musk’s tunneling and transportation startup, has landed a $48.7 million project to shuttle people in an underground Loop system around the Las Vegas Convention Center. This is the company’s first commercial contract. The initial design for the project, dubbed Campus Wide People Mover, or CWPM, will focus on the Las … Continue reading Elon Musk’s Boring Company lands $48.7M contract for underground ‘people mover’ in Las Vegas
ByteDance, TikTok’s parent company, plans to launch a free music streaming app
Does the overcrowded and cut-throat music streaming business have room for an additional player? The world’s most valuable startup certainly thinks so. Chinese conglomerate ByteDance, valued at over $75 billion, is working on a music streaming service, two sources familiar with the matter told TechCrunch. The company, which operates popular app TikTok, has held discussions … Continue reading ByteDance, TikTok’s parent company, plans to launch a free music streaming app
China’s Luckin Coffee raises up to $651M in upsized US IPO
Another week, another cash-burning tech IPO in the U.S. Following on from Uber’s high-profile listing, ambitious Chinese startup Luckin Coffee has raised up to $650.8 million on the Nasdaq after it priced its shares at $17. Despite concern at its high losses and little chance of near-term profitability, Luckin seems to have been greeted positively … Continue reading China’s Luckin Coffee raises up to $651M in upsized US IPO
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