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Sequoia, SoftBank Passed On OfferUp Investment

Would-be Craigslist competitor OfferUp has been trying to raise about $100 million in financing for at least five months, according to people with direct knowledge of the situation. It’s been tough going, a sign of how quickly tech startups can lose popularity among investors.

Prominent tech investors, including Sequoia Capital and SoftBank, have passed on the round because they think the valuation being sought is too high—particularly given increasing competition in the mobile marketplace sector, said the people. The exact valuation OfferUp is seeking couldn’t be learned. OfferUp is currently working with Morgan Stanley to find new investors, said two of the people, who declined to be identified because the information is confidential. [ The Information ]

VCs are most excited about these 10 female-founded Bay Area startups

Despite receiving only around 2 percent of total venture funding, a growing number of startups led by women gained significant traction this year, according to AngelList.

The startup hiring and investment platform asked venture capitalists to name the female-led startups they think are poised for a breakout year in 2018. Details about the 10 from the Bay Area, all fairly new, that were highlighted are in the photo gallery that accompanies this story. [ Biz Journals ]

Bill Gurley's wild ride in 2017 and how he navigated Silicon Valley's craziest drama

• Gurley's firm is sitting on about $8 billion worth of Uber stock and has been at the center of the boardroom drama.
• Benchmark had huge wins in 2017 from the Snap and Stitch Fix IPOs.
• He "powered through a really tough period of his life," said Zillow co-founder Rich Barton.

Palantir Investor Says Company Sabotaged Stock Sale to Chinese

• Marc Abramowitz says Palantir execs substituted own shares

• Suit is latest salvo in skirmish between Palantir, Abramowitz

One of Palantir Technologies Inc.’s early investors accused the data-mining startup of sabotaging his attempt to sell his $60 million stake to a Chinese company so directors and executives could enrich themselves by selling their stock instead. [ Bloomberg ]