Sign up to receive 5 free days of our daily summary for tech news.

Read this article for free.

Already a subscriber? Log in here

Asia

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.

What Is The Information?

Notebook b5103017ee163370a1667c9ce59ab0ef023875a17888105d26c185cadf31bb69

Daily news analysis

Every weeknight, we'll send you our reporters’ views on the day’s top tech news—distilled into one email.

Notes bb3aa5069205d702dda37fc71dc6f1c59df2310c4379304e9f1199f052af4884

Exclusive Articles

We broke it first. Receive original reporting, stories, and exclusives you won't read anywhere else from the largest newsroom in tech.

Conference calls c9e664e8b96ee347d3e92b8309938f268422b9db98cfabca5c826fbb75054b23

Conference calls

Go deep into areas like crypto and VC diversity—or get real-time analysis of breaking news—via conference calls with our reporters and other experts.

Events 499acedd16cffc41445edd76bfd302b2836c2a27419890f17130a6b10e2aa3df

Special Events

For no extra fee, subscribers get access to more than a dozen events yearly, from intimate dinners to larger gatherings with marquee speakers.

Access the best reporting on the tech industry read by tens of thousands of global executives.

Become a contributor

Share your views and find other subscribers by completing your profile. You’ll be listed in our contributor directory.

Org Charts

Access the only collection of tech company org charts. Our expanding database includes companies like Amazon, Snap, and Uber.

Slack community

Discuss topics and current events with our subscriber-only Slack group and share news about your company with other subscribers.

Share with your team

Subscribers can unlock any article and share it with friends and co-workers through a special share link.

Stay up to date on Silicon Valley

Sign up for Jessica Lessin’s (The Information’s CEO & Founder) free Saturday newsletter and also receive a complimentary week of our daily afternoon tech commentary email.

Already a subscriber? Log in here

Recent Articles

Venture Capital Uber/Lyft

In Silicon Valley, Silence on Saudi

By Jessica E. Lessin

Asia Startups Uber/Lyft

Google-Backed Ride-Hailing Startup Go-Jek Valued at Over $9 Billion

By Juro Osawa

Asia Entertainment

China’s Video App Kuaishou Targets a $25 Billion Valuation

By Yunan Zhang

Asia Venture Capital Startups

SoftBank in Talks to Invest in Alibaba-Backed Bike Sharing Startup Hellobike

By Yunan Zhang and Juro Osawa