Shervin Pishevar takes immediate leave of absence from Hyperloop One and Sherpa CapitalShervin Pishevar, co-founder of Sherpa Capital and co-founder of Hyperloop One, is taking an immediate leave of absence from both companies, as well as from his board responsibilities at Sherpa’s portfolio companies. Pishevar, in his statement via a lawyer, said it was his idea to take a leave of absence and that the decision was not made lightly. Pishevar’s hope is that his absence “will eliminate any potential distraction to the great and important work being done at these companies.” [ Tech Crunch ] Lyft increases latest funding round by $500M to $1.5BLyft just announced that it has added an additional $500 million to its most recent funding round, a $1 billion raise announced in October. The now-$1.5 billion round includes participation from Fidelity Management & Research Company as well as the Ontario Teachers’ Pension Fund. Lyft’s post-money valuation as of this add-on raise is now $11.5 billion, with the expanded round still led by Alphabet’s CapitalG. [ Tech Crunch ] New York VC Beth Ferreira Joins FirstMark, The Firm's Second Female Partner Hire In Two MonthsNew York venture capital firm FirstMark Capital has tapped Beth Ferreira to join as a managing director, its second female partner addition in two months. Ferreira joins FirstMark after more than two years at WME Ventures, where she’d launched a $50 million fund announced last November. Her arrival at FirstMark comes as the firm has restocked its investor bench in recent weeks, adding Catherine Ulrich in October. [ Forbes ] A high-fashion apparel startup wants to create a better uniform for working women — and millennials are obsessedThe streets of San Francisco are paved with young men wearing hoodies, jeans, and T-shirts — the tech bro uniform popularized by the likes of Mark Zuckerberg and other tech executives. In 2014, Stanford graduates Jessica Lee and Lizzie Agnew decided to offer a fashionable alternative for women out of their home base of San Francisco. Modern Citizen, their direct-to-consumer apparel company, provides stylish, professional women with a curated collection of fashion-forward pieces, with many items priced under $100. Cashmere knits, wrap dresses, and relaxed-fit blazers provide comfortable alternatives to the Valley wardrobe staples. [ Business Insider ] How This Beauty Blogger Created a Cult Brand (and Raised $34 Million)Among connoisseurs of the dewy skin look, 2017 may go down as the year Glossier achieved cult status. In mid-September, the beauty brand that promises to hide blemishes without covering up your freckles or pores released its first line of body products called Body Hero. The products' advertisements -- which ran on social media and old-fashioned billboards in New York City and Los Angeles -- featured nude photos of women. From basketball player and Olympic gold medalist Swin Cash Canal, to entrepreneur Tyler Haney and plus-size model Paloma Elsesser, the models were all different colors and sizes. [ Inc. ] Ziff Davis has bought Mashable at a fire sale price and plans to lay off 50 peopleMashable, once a fast-growing digital publisher with big ambitions, has been sold at a fire sale price. Ziff Davis, a digital media subsidiary of tech company J2, is buying Mashable for less than $50 million, according to people familiar with the transaction. In the spring of 2016, Time Warner’s Turner led a $15 million investment round that valued the company at $250 million. Last month, the Wall Street Journal reported that a deal was in the works. Mashable’s new owners plan on keeping the site running but want to refocus the company on tech and tech-lifestyle content. That will mean laying off about 50 of the site’s employees and offering other Mashable employees jobs at other Ziff Davis publications, according to a source familiar with the company’s plans, who says founder Pete Cashmore will stay with the company. [ Re/Code ] As The App Economy Booms, Mobile-Focused Funding SlipsThe app economy is booming. So why aren’t mobile-focused companies raising huge numbers of new rounds? Yesterday, we reported on a recent industry discussion regarding the decline in early-stage fundraising. It’s a topic that Crunchbase News has written about quite often, and we’re bringing it back up again. (We’re nearly done; we promise. But you should also read this). This morning, a new App Annie report detailing the size of the app economy, in terms of revenue, drove coverage. TechCrunch’s coverage of the report noted that “[c]onsumer spending on all mobile app stores will surpass $110 billion in 2018” and that the expected revenue result is “a 30 percent increase from the year prior.” Those are obviously big numbers. That the app economy is soon to crest the $100 billion mark (estimated, to be sure) while growing at a 30 percent year-over-year clip is astounding. It implies that that particular market has quite a bit of legs left to carry it forward, and it’s going to end up closer to $200 billion than $100 billion when it levels off. [ CrunchBase ] These Technologies Will Shape The Future, According To One of Silicon Valley’s Top VC FirmsDominant companies always look invulnerable–until they’re very vulnerable. That’s been the case throughout the modern history of technology, with IBM, Microsoft, Yahoo, and MySpace all once upon a time seeming secure at the top of the mountain. And then, one by one, each was toppled. Such is the case today, as four companies–Google, Apple, Facebook, and Amazon–vie for tech’s Iron Throne (with a combined market cap of $2.61 trillion). But while there are no credible contenders for the crown today, who knows what will happen a few years down the line. The key to successful revolutions is fundamental innovation, and in the case of the tech industry, there’s ample evidence we’re on the cusp of several new categories that could produce giant, multi-hundred-billion-dollar winners. It’s possible, of course, that Google, Apple, Facebook, or Amazon could be the companies to best capitalize on those new innovations, but then again, it could be altogether new players. [ FastCompany ] Snapchat boss Evan Spiegel on the app that made him one of the world's youngest billionairesZeta Global Makes Its Biggest Buy Yet: Social Discussion Platform DisqusHere’s How to Wield Empathy and Data to Build an Inclusive TeamSmart Money: Funding and Exit Trends I FortuneSean Parker's other notorious startup, Plaxo, is finally dead — here's how it influenced FacebookPeter Thiel invests as biotech co ChemomAb raises $10mInfographic: Apple’s Biggest AcquisitionsOath and Mozilla are in a legal battle over a Yahoo search dealThe Slow Motion SaaS Crash |