BuzzFeed is preparing to go public next yearBuzzFeed is preparing to go public next year, a source told CNBC on Wednesday. The digital news and entertainment site currently has more than 18 offices and 1,300 employees globally. BuzzFeed's initial public offering would follow the recent public debut of Snap, the parent company of Snapchat, another brand that is popular with the millennial and Gen Z set. While Snap went public with considerable Wall Street appetite, shares have struggled since then and remain below their first-day closing price. In November, BuzzFeed and CNBC parent NBCUniversal disclosed that NBCUniversal had invested another $200 million in the company — which is known for its viral content — to fund BuzzFeed's growth and extend the advertising sales partnership between the two companies. NBCUniversal is also an investor in Snap. [ CNBC ] Didi could be raising the largest VC round in historyBeijing-based ridesharing giant Didi Chuxing is considering raising a $6 billion round from Japanese tech conglomerate SoftBank, according to Bloomberg. If completed, the deal would be the single largest equity venture investment in history, per the PitchBook Platform. Existing backers Apple and Tencent are said to be weighing participation to avoid having their stakes in the company diluted. Didi is no stranger to such massive rounds. Last June, the company raised $4.5 billion in equity, plus an accompanying $2.8 billion in debt. SoftBank is already among the company's investors, as is Alibaba affiliate Ant Financial. Meal Kit Company Blue Apron Is Heading for IPOBlue Apron, the biggest U.S. meal kit company, has hired investment bankers to lead its 2017 initial public offering, according to people familiar with the matter. Blue Apron's IPO is coming as competition heats up in the meal kit industry, with companies delivering fresh ingredients and recipes to subscribers. At least one of its rivals is preparing its own IPO this year. New York City-based Blue Apron has selected Goldman Sachs, Morgan Stanley and Citigroup Inc to lead the offering that could come as soon as this fall, the sources said. Blue Apron was valued as high as $2 billion in a June 2015 funding round. The company, which is not profitable, generated about $750 million in revenues last year, according to one source. [ Fortune ] Design as a Business Imperative with Sarah Nahm (Lever)Lever has taken the recruiting software category by storm, with fast growth, high-profile customers, and $32.8M raised to date. We talk to the Founder & CEO of Lever, Sarah Nahm. Venture Capital Funnel Shows Odds of Becoming a Unicorn Are Less than 1%The venture capital funnel highlights the natural selection process of the venture capital process. 70% of companies are orphaned or die along the way. [ CB Insights ] IPOs Are Cool Again in Startup-LandOf all the factors that went into creating the unusual abundance of highly valued private companies we call the “Age of Unicorns,” startups avoiding the public markets is the biggest one. Instead of working toward and IPO, startups strive for a billion-dollar valuation, a mark that gives them all the same benefits of an IPO (except for a financial return). Joining the so-called unicorn club gives them external validation from customers, employees, the media, and future investors, all without the hassles of quarterly reporting. The strategy from prominent startup founders has been to avoid and delay going public for as long as possible. [ Fortune ] Munchery Stiffs Early Backers and Cuts Staff in a Bid for SurvivalThe food delivery startup is recapitalizing, devaluing the stakes of many early investors. The food delivery startup Munchery Inc. has raised more than $5 million to stay afloat, practically eliminating the stakes of the company's founders and departed employees, according to a person familiar with the matter. Menlo Ventures and Sherpa Capital, the company's biggest backers, are among the latest investors, said two people familiar with the deal, who were not authorized to speak publicly. [ Bloomberg ] There’s a feeling you get when you’re surrounded by thousands of like-minded people; a hopeful energy that’s sparked by a common quest for change and fueled by sheer will and imagination. This was the overarching sentiment at last week’s second annual Shoptalk event, which has become the preeminent community gathering for the retail sector. The 5,500 corporate leaders, entrepreneurs and venture capitalists in attendance - all of whom are engaged in the massive wave of disruption afoot in the retail space - was testament to the fact that not only are we in the midst of a sea of great change, but that we’ve only just begun to dip our toe in it. Ashton Kutcher’s Sound Ventures hires a new managing partner and COOSound Ventures, the venture firm founded by Ashton Kutcher and Guy Oseary, has hired a new managing partner and COO. Effie Epstein, who most recently led global strategy at Marsh & McLennan subsidiary Marsh, will be joining the firm to make investments and help run day-to-day operations. [ TC ] Software Engineer Starts Unlikely Business: A Weekly NewspaperIn a newsroom wedged into a storefront here, reporters worked on stories about the contentious issues driving the conversation around town, like a property reassessment that could affect taxes and testing in the public schools. An editor read through submissions for a St. Patrick’s Day limerick contest. And Kevin Meacham, the newspaper’s top editor, was in his office, looking at a mock-up of a front page on his computer, “XXXX” taking the place of headlines waiting to be written. [ NY Times ] |