What you need to think about before starting a venture firmAlong with the reasons I’ve previously discussed, this list and chart below clearly suggest that becoming a venture investor (or more specifically a seed stage VC) is easier than it’s ever been. Yes, fundraising is hard, but with patience and pragmatism, the barriers of entry are low for new entrants. [ Samir Kaji ] Here’s what could happen today in the first hearing of Benchmark versus Travis KalanickThe battle over the future of Uber heads today to a courtroom in Delaware, where an unprecedented lawsuit of founder versus venture firm could either be placed on a fast track or thrown out entirely. In what is likely to be a heated argument over the legacy of Uber’s lightning rod of a founder and former CEO, attorneys for both Travis Kalanick and one of the car-hailing company’s largest investors, Benchmark Capital, will square off in the first oral argument in the month-old case. Kalanick is trying to get the lawsuit, initiated by Benchmark, thrown into arbitration, while the firm is asking for an order that would hinder any new moves by Kalanick. WSJ - New Uber CEO Says Company Could Go Public in 18 Months. In first appearance before ride-hailing firm’s employees, Dara Khosrowshahi says timeline for IPO between 18 to 36 months.Uber Technologies Inc.’s new chief executive, Dara Khosrowshahi, said he would start on Tuesday and aim for an initial public offering in as soon as 2019, setting the stage for what would be one of the most highly anticipated market debuts in memory. At his first appearance in front of employees for the ride-hailing firm Wednesday, Mr. Khosrowshahi set a timeline for an IPO of between 18 and 36 months, though he indicated that wasn’t a firm deadline, according to a person who attended the meeting. The wide range gives Mr. Khosrowshahi some leeway to restore order to a company beset by months of scandals and legal issues, as well as to shore up losses that totaled over
$3 billion last year. Mr. Khosrowshahi was introduced to employees at the San Francisco headquarters by the man he is replacing, Travis Kalanick, who reluctantly resigned in late June under investor pressure. Mr. Kalanick appeared emotional as he praised Mr. Khosrowshahi and said he would support the new CEO however he could, according to the person who attended the meeting. [ WSJ ] Messaging app Kik is launching its own cryptocurrency to raise $125 millionKik, the $1 billion Canadian messaging app operator, is planning to raise $125 million through an initial coin offering on September 12. Kik, which was founded by a group of college students in 2009, is actively used by 15 million people per month and reaches 40% of American teenagers, according to the company. ICOs, a red-hot way to raise money using the technology behind bitcoin, have exploded this year with over $1.8 billion raised year-to-date, according to data from financial technology analytics provider Autonomous NEXT. They've allowed some companies to circumvent traditional fundraising methods, such as from venture capital and via the capital markets, to raise millions of dollars in a matter of seconds. [ Business Insider ] The CEO of luxury fashion site Farfetch said an IPO is 'the next logical stage'Europe's next major tech IPO is on the horizon. José Neves, chief executive of luxury fashion website Farfetch,told The Telegraph that a float would be "the next logical stage" for his company. A Sky News report in June suggested Farfetch was close to picking bankers to underwrite a $5 billion (£3.85 billion) IPO in New York. Farfetch hasn't commented on the speculation until now. Neves said: "It's the next logical stage for the company. [ Business Insider ] Airbnb Joins Race for AI TalentAs Airbnb expands into a broader range of services, like tours, activities, restaurant bookings and concierge services, it has begun looking for startups that can help it improve its machine-learning capabilities, three people briefed by the company said. Airbnb is looking to make better use of insights that could be found in customer reviews, messages with hosts and self-descriptions, to allow for improved personalization of activities it suggests to guests. [ The Information ] HelloFresh eyes exit as VC loses appetite for food Rocket Internet-backed HelloFresh could be planning an IPO for as early as next month, per reports. In an interview with German publication Manager Magazin, CEO Dominik Richter (right) said the startup is ‘keeping all options open’ amid reports that the company could float on the public markets in the autumn. Even under Facebook ownership, Jan Koum says that the simplicity and efficiency that made WhatsApp a hit in the first place remain all-important.
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