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SoftBank May Not Sell Flipkart Stake in Walmart Deal

Despite widespread reports that SoftBank would unload its stake in Flipkart as part of the Walmart deal, the investment firm hasn’t yet decided whether to sell, say people familiar with the situation. SoftBank has about 10 days to decide whether to sell its stake and if so, how much. It may decide to stay in Flipkart, where it would become the second largest shareholder, one of the people said....

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The Takeaway COVID-19 E-commerce
A ‘Crucible’ Moment: Inside Instacart CEO’s COVID-19 Playbook

As Instacart founder and CEO Apoorva Mehta sat down to write an email to his management team on February 24, it wasn’t about his previous rallying cry for the year: getting closer to profitability ahead of an eventual IPO. Something bigger was looming. 

The grocery delivery company’s investors and board members, including Jeff Jordan of Andreessen Horowitz and Michael Moritz of ...

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Google Pledges More Than $800 Million to Virus Relief
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Scooter Rental Startup Bird Lays Off 30% of Workforce
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Venture Capital Startups
Virus Begins Separating Strong Startups From Weak
While it will take months to understand the full impact of the coronavirus on the startup economy, evidence of its grim toll is already beginning to mount.
Startups
Layoffs Accelerate Across Silicon Valley Startups
As the world braces for a recession triggered by the coronavirus outbreak, venture capital–backed startups across several industries are making significant cuts to their employee numbers.
The Takeaway Startups
The (Pink) Elephant in the Tech Press
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Entertainment
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Exclusive Startups Travel
VC-Backed Sonder Cuts One-Third of Staff as Travel Plummets
Sonder, a venture capital-backed operator of apartment-based lodgings for tourists and business travelers, laid off or furloughed more than 400 people, about one-third of its staff, in a bid to offset a declining number of bookings as the travel market collapses.