Uber CEO to Take Leave, Diminished Role After Workplace Scandals
Uber Technologies Inc. Chief Executive Officer Travis Kalanick told staff he plans to take a leave of absence, without disclosing a return date. The company will be run by a management committee as it tries to navigate a wave of scandals. [ Bloomberg ] [ PitchBook ] $1 billion raised in Australian venture capital over the last year, report findsAustralia’s venture capital sector has “come of age”, with a record $568 million raised in the 2016 financial year and an estimated $1 billion raised since last July, however national body for venture capital and private equity, AVCAL warned that more must be invested if Australia is to get up to speed with global tech leaders. [ Startup Daily ] Tencent Leads $146M Round In Chinese Online Brokerage Firm FutuChinese Internet giant Tencent Holdings Ltd. has led a US$145.5 million C round financing in Futu Securities, an online brokerage platform serving Chinese investors trading U.S. and Hong Kong-listed stocks. Existing investors Matrix Partners China and Sequoia Capital China also participated in the round, which values the company at "unicorn level," its founder Li Hua said in an announcement, without disclosing exactly how much the company was valued at. Snips – the global Artificial Intelligence (AI) startup behind the world’s first Private-by-Design voice platform for connected devices – today announced the official launch of its Voice Platform, with over 1,000 platform users already signed up, as well as its latest round of funding – $13M from key investors in their Series A, totaling $21M in the last two years. Founded in 2013 as an AI research lab, Snips’ mission to “make technology disappear” led to the creation of the Snips Voice Platform for connected devices. [ Venture Pulse ] Building Your Board with Redfin CEO Glenn Kelman | The Scaleup Offsite 2017Marissa Mayer leaves Yahoo with nearly $260 millionAccording to recent filings with the Securities and Exchange Commission, Mayer owned about 4.5 million shares of Yahoo, including options and restricted stock units. Yahoo stock was trading at about $52.50 midday Tuesday. So that makes Mayer's equity holdings worth a little more than $236 million at current prices. [ CNN Money ] E739: “Gut Feel” in angel investing: Wharton Prof Laura Huang on how early investors make decisions'China speed': Venture capital fuels a startup boomStartup enterprises in China are experiencing a level of investment like never before. The fear of missing out on the next big thing has given life to businesses such as Lin Bin’s bike-sharing service, Kala Bike, among others. As a rush of new ideas gears up to make it to market, Nathan VanderKlippe reports on the cycle of funding that has made the country the second-largest venture-capital industry in the world. [ The globe and mail ] Sleep Tracking Startup Hello to Shut Down After Fitbit Deal Falls ThroughHello, the startup behind Sense sleep tracking devices, plans to shut down. The company recently laid off most of its staff. Hello recently held discussions to sell its assets in what one source described as “a firesale” to Fitbit, but the deal fell through, according to a source familiar with the situation. [ Fortune ] PayPal investor Eddy Chan sets up venture fund for IndonesiaIntudo Ventures, a new Indonesia-focused venture capital firm, is launching its debut US$10 million fund today. The firm plans to build a concentrated portfolio of only 12 to 16 companies, co-founders Eddy Chan and Patrick Yip told Tech in Asia. Both are private equity and startup investment veterans. [ Tech In Asia ] Dropbox founder explains how his $10 billion startup was created on a Chinatown busDrew Houston came up with the idea for Dropbox on a bus. About 10 years later, the file-sharing service has more than 500 million users, generates $1 billion-plus in annualized revenue, and was valued at about $10 billion in 2014. [ Business Insider ] Here's where Facebook's first 20 employees are nowVisualizing Where Major US Banks Have Invested in FintechHow This Woman Went From Fetching Coffee To CEO Of A $1 Billion CompanyThis $48 Million Luggage Company Has Big Plans for Your Next TripHow To Build an oEmbed Integration for Your Startup, and Why It’s NecessarySheryl Sandberg says her late husband gave her 'the world's best advice' on working with Mark ZuckerbergClutter raises $70 million as investors can't stop pouring money into startups that store your stuffSoFi has applied for a bank charterVeteran retail CEO Mindy Grossman has joined the board of Fanatics — the $3 billion online sports retailerUber’s culture crisisCashing Out: Tech vs. Healthcare Exit ValuationsCode Like a Girl partners with Envato to expand as Girl Geek Academy opens SheHacks to corporates |