1.
Canva Hits $3.2 Billion Valuation After $85 Million Raise For Big-Business Push
Canva has reached an eye-popping new valuation as it makes its first push into larger customers for its design software suite. Sydney-based Canva announced on Wednesday that it raised $85 million in new funding from existing investors including Bond, General Catalyst, Bessemer Venture Partners, Blackbird and Sequoia China. After the funding round, Canva’s valuation has increased to $3.2 billion, up from its $2.5 billion valuation announced in May. [ Forbes
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2.
11 Industries Responding To The Meatless Revolution
Among several potential environmental effects, going meat-free could help lower greenhouse gas emissions, decrease land use, and reduce water consumption — contributing to a more sustainable food system. [ CB Insights ] Checkout 15K+ Venture Capital Data on our
platform.
3.
Digital bank Up strikes TransferWise deal for overseas payments
App-based neobank Up is partnering with fellow fintech TransferWise to offer international payments in 52 currencies. More than 130,000 Up users will be able to make overseas payments from their transaction account under the deal. Up co-founder Dom Pym said the integration with TransferWise makes them the first Australian bank offering international money transfers with no exchange rate markups. “We’re pleased to bring two great fintech brands together to set a new standard in banking and international transfers,” he said. [ Startup Daily ]
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4.
VC firm with ties to Charles Koch expected to reach $100 million in new funding
A venture capital firm with close ties to billionaire industrialist Charles Koch is expected to reach $100 million in new funding to invest in startups focused on social change. Trust Ventures launched last year at Koch’s semiannual private retreat for donors to his sprawling social advocacy network. It raised $36 million in its first round of funding, and the firm said it has locked in about $70 million so far in its second round. It anticipates closing at $100 million
sometime next fall. [ CNBC ] Checkout 15K+ Venture Capital Data on our platform.
5.
6 big things: Is it time for VC to hit the reset button?
Even if the past week's chatter wasn't completely dominated by major developments around WeWork, SoftBank and unicorn IPOs, the week was still very much about WeWork, SoftBank and unicorn IPOs.
Continued fallout from WeWork's epic IPO meltdown and the underperformance of many once-touted, now-public unicorns has led to growing rumination in the venture industry about "what's next?" [ Pitchbook ] Checkout 15K+ Venture Capital Data on our platform.
6.
Hiro Capital Launches €100M Venture Capital Fund Focused on Games, Esports and Digital Sports
London, UK and Luxembourg based Hiro Capital has launched a €100m fund to back UK and EU leaders in the global Games, Esports and Digital Sports sectors. The founding team includes:
– Ian Livingstone CBE, the game industry legend who co-founded Games Workshop),
– Luke Alvarez, Inspired Entertainment co-founder, and
– Cherry Freeman, Britain’s ‘Coolest Female Founder’ and co-founder of LoveCrafts. They will use the fund to accelerate the growth of about 20 UK and European Games and Sports innovators. Hiro Capital will generally invest at the post-seed stage, at Series A and B. The fund will back deep technology entrepreneurs and creative studios in Games, Esports and Digital Sports and in sector-specific applications of Cloud, Mobile, Streaming, Big Data, AI,
Wearables, AR and VR technologies. [ Finsmes ] Checkout 15K+ Venture Capital Data on our platform.
7.
This year could set another record for US PE add-on activity
Add-ons now account for 68% of all US PE buyouts. If that pace holds, 2019 will notch another high-water mark for the add-on/LBO ratio, which has been trending up for the past decade, according to PitchBook's recently released 3Q 2019 US PE Breakdown Report. [ Pitchbook ]
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8.
Thoma Bravo makes $3.9 billion offer to acquire security firm Sophos
Sophos announced this morning that private equity firm Thoma Bravo has agreed to buy the British company for £3.1 billion ($3.9 billion USD). The price is based on $7.40 USD per share and the company indicated that the board of directors will recommend shareholders accept the offer. [ Tech Crunch ]
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9.
Milk Bar banks Series B funding for cult-favorite cookies
You don't see too many James Beard Award winners raising venture capital. But then again, you don't see too many restaurants capture the public imagination like Milk Bar, a growing chain of dessert and bakery shops beloved for its creative and colorful confections.
Founded nearly 11 years ago as an offshoot of Momofuku, another wildly popular network of eateries, Milk Bar has since expanded to 17 locations, including nine in New York. Created by pastry chef Christina Tosi, the chain has developed a cult-like following among the sweet-toothed who can't get enough of its Compost Cookie, Cereal Milk Soft Serve and Crack Pie (now officially known as Milk Bar Pie). [ Pitchbook ] Checkout 15K+ Venture Capital Data on our platform.
10.
China’s Autohome looks to back CarDekho at $700 mn valuation
Online car marketplace CarDekho is in talks to raise $100 million in a Series D round, led by Chinese strategic investor Autohome Inc., valuing it at $700 million, said two people close to the deal, requesting anonymity. Existing investor Sequoia Capital is also expected to invest from its $8 billion global growth fund, the people added. “Sequoia is driving the discussions, given it is a common investor in both Autohome and CarDekho. This round is mainly being put together for the strategic investor to come in, with Autohome putting in $70 million," said the first person cited above. [ livemint ] Checkout 15K+ Venture Capital Data on our platform.
11.
Founder of electric vehicle startup Faraday files for bankruptcy
Jia Yueting, an entrepreneur who ran up billions of dollars in personal debts trying to build a business empire in China, has filed for bankruptcy in the U.S. with plans to turn over his latest venture, an electric vehicle startup, to creditors. In a proposed debt-restructuring plan filed in federal court in Wilmington, Del., Jia will use his ownership stake in Los Angeles-based Faraday & Future Inc. to set up a creditor trust to repay his debts. [ LA Times ]
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12.
The Micromobility Revolution: How Bikes And Scooters Are Shaking Up Urban Transport Worldwide
As congestion in cities rises, existing transportation — from cars to buses to trains — can no longer keep up with the growing population. Americans have lost an average of 97 hours a year due to congestion, according to the 2018 INRIX National Traffic Scorecard. In 2018, it cost Americans roughly $87B, or an average of $1,348 per driver. [ CB Insights ] Checkout 15K+ Venture Capital Data on our platform.
13.
MIT economists Esther Duflo and Abhijit Banerjee win Nobel Prize (press conference)
Esther Duflo and Abhijit Banerjee, MIT economists whose work has helped transform antipoverty research and relief efforts, have been named co-winners of the 2019 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, along with another co-winner, Harvard University economist Michael Kremer.
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14.
How to Raise My First Dollars with Russ Heddleston, Charles Hudson and Annie Kadavy
Venture funding may have boomed over the last decade, but the decisions around your initial funding are as tricky as ever. Hear how to take advantage of the current landscape from top Silicon Valley early-stage thinkers including pre-seed investor Charles Hudson of Precursor Ventures, early-stage investor Annie Kadavy of Redpoint Ventures, and Russ Heddleston, CEO of Docsend.
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15.
E988 Cowboy Ventures' Aileen Lee on pioneering diversity in tech & VC, lessons from backing winners
Aileen Lee, Founder & Managing Partner of Cowboy Ventures, pioneered actionable change to diversify tech & VC, shares early days innovating in e-commerce, insights on current funding landscape, dangers of prioritized growth over sustainability, & lessons learned from backing winners like Dollar Shave Club from LAUNCH Scale 2019
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16.
What's Growing on the Consumer Internet with Andrew Chen (Andreesen Horowitz)
You may know Andrew Chen as a widely read startup growth strategist, but today he’s investing in his expertise. As a partner at top venture firm Andreessen Horowitz, he is focused on consumer internet companies, seeking out the new growth in this maturing tech sector. Come hear the latest on what he’s seeing in the industry both from the growth and investing perspective.
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17.
How to be a Serial Founder with David Cancel (Drift)
So your first company worked out well. Let’s say you have the burning desire to do another one — what’s the right way to do it the next time around? Hear from frequent founder David Cancel (formerly Performable/Hubspot, Lookery, Ghostery, Compete) on what he’s done.
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18.
How to Take a Hardware Company Public with Eric Friedman (Fitbit) and James Park (Fitbit)
19.
Modernizing Matrimony with Shan-Lyn Ma (Zola)
In just over five years, Zola has managed to become the go-to service provider for couples planning their wedding. Hear from Zola founder Shan-Lyn Ma on raising upwards of $140 million and how to capitalize on the most important day of her users’ lives.
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20.
How to Build a Sex Tech Startup with Cyan Banister, Cindy Gallop, and Lora Haddock
As the old adage goes, sex sells. A panel of investors and founders will discuss the opportunities — and challenges — of building a successful sex tech startup, and how to capitalize on a market that’s projected to be worth more than $123 billion by 2026.
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