In a letter sent to its limited partners last month, venture firm Sequoia Capital asked for approval to potentially introduce an “enhanced fund structure,” according to a person familiar with the matter. Under the proposed changes, first reported by Bloomberg , Sequoia would distribute some shares in its portfolio companies prior to an initial public offering. Those shares would then sit in a...
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The Briefing Uber/Lyft Entertainment
Lyft’s Pandemic Is Far From Over
After the rush of the advertising-based internet firms reporting blockbuster growth, we’re coming down to earth this week with the ride-sharing companies Lyft and Uber reporting their second-quarter results. The verdict, at least so far: meh. Lyft went first today, reporting 125% growth in revenue from last year’s pandemic-crushed second quarter. That’s not as impressive as it sounds. With...
China’s Kuaishou Closes its TikTok Rival Video App
SoftBank Builds $5 Billion Stake in Drug Giant Roche
Lyft Posts Sharp Rise in Q2 Revenue But Still Below 2019 Levels
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