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Startups Venture Capital

First-Time Financings Decline Amid Covid-19

Seed-stage companies are struggling to close new financings amid the coronavirus outbreak, according to data firm PitchBook’s new report on venture capital activity. From March to June, there were just 316 first-time financings, down from last year’s quarterly average of 650. Late-stage VC remained strong, however. There were more completed late-stage deals than early-stage deals in Q2,...

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The Briefing
The New Uber, Google Founders’ Letter: The Information’s Tech Briefing

In a sign of the times, Uber said Thursday its restaurant-food delivery revenue surpassed ride-hailing for the first time. Uber Eats revenue rose 103%, to $1.2 billion in the June quarter, and its profit margin—at negative 19%—was the unit’s best in many quarters. Ride-hailing generated just $790 million, down 67% due to pandemic shutdowns.

Uber’s management, starting ...

Latest Briefs
 
Tencent Stock Hit by Trump’s U.S. WeChat Ban
White House: Delist Chinese Companies That Don’t Follow U.S. Audit Requirements
Trump Issues Executive Order Setting 45-Day Deadline for Microsoft-TikTok Deal
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Microsoft’s Talks to Buy TikTok Follow Headwinds for Investor Plan
Microsoft is in serious talks to acquire TikTok, the hugely popular Chinese-owned video app, The Information has confirmed, after separate talks for a U.S.
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Startup HeadSpin to Return Funding After Probe of Financial Statements
HeadSpin, a mobile app testing company recently valued at $1.16 billion, plans to return up to $95 million in funding to investors after an internal review of financial irregularities forced it to restate its financials.
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Tech in 2023: What Will and Won’t Have Changed
The coronavirus will have a lasting impact on business. But from where we sit today, it is difficult to tell which of the changes sparked by the pandemic will be temporary and which permanent.
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Casper’s Sleep Troubles
Hours after Casper Sleep executives rang the bell at the New York Stock Exchange to inaugurate the mattress maker’s initial public offering in early February, the mood at the company’s downtown New York offices was celebratory.
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Airbnb’s New Strategy: Living Without Google
Employees who worked on Airbnb’s marketing team in recent years have sometimes pondered a tantalizing question: What would happen to the company’s growth if it stopped spending hundreds of millions of dollars a year on ads that appear high up in Google search results?
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