Sequoia Warns Founders of ‘Crucible Moment,’ Advises How to ‘Avoid the Death Spiral’

Startups Venture Capital

Clubhouse Confirms New Funding Round Led by Andreessen Horowitz

Audio social app Clubhouse confirmed Sunday that it raised a Series C round led by Andreessen Horowitz with new investors DST Global, Tiger Global Management and the angel investor Elad Gil. Clubhouse can raise up to $200 million by selling its shares to investors in the round, according to company documents filed with the state of Delaware last week. It’s unclear if existing shareholders such...

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VMware Should Not Expect a White Knight; Wish Sidelined as Dollar Stores Rally
Photo: Bloomberg
Broadcom made official its plan to acquire VMware in a cash-and-stock deal worth around $61 billion. The deal underscores the degree to which CEO Hock Tan has transformed Broadcom from a maker of networking chips into a formidable player in enterprise software. The agreement includes a “go-shop” provision allowing VMware to solicit bids from other companies until July 5. But Broadcom is...
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Broadcom to Acquire VMware for $61 Billion in Cash and Stock
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Roelof Botha, partner at Sequoia Capital. Photo by Getty
Exclusive Venture Capital Startups
Sequoia Warns Founders of ‘Crucible Moment,’ Advises How to ‘Avoid the Death Spiral’
Sand Hill Road’s doomsayer-in-chief—Sequoia Capital—is back with a warning to its startup founders: Don’t expect a recovery from the current market downturn to happen quickly.
(L-R) Jonathan Ive, Johny Srouji, Dan Riccio and Tim Cook. Photos by Bloomberg; Apple. Art by Mike Sullivan
Exclusive Apple AR/VR
Behind the Apple Design Decisions That Bogged Down Its Mixed-Reality Headset
Apple’s executives had a critical design decision to make about the company’s riskiest product in years.
Art by Clark Miller
The Big Read Crypto
Panic at the Discord
The crypto party was as raucous as ever—and then someone turned on the lights. After a year of record-high token prices and newfound support from legacy financial institutions like Fidelity and BlackRock, reality bit hard the second week of May when the algorithmic stablecoin terraUSD (known as UST) crashed, taking down some $400 billion in crypto market cap with it.
Netflix co-CEO Reed Hastings. Photo by Bloomberg.
True Value Entertainment
Netflix Could Boost U.S. Revenue 21% With Advertising Push
Netflix has spent its entire existence setting the trend for others in video streaming to follow. But as it prepares to launch an ad-supported tier, Netflix executives are pondering a different question: Which rival service should it follow as a model?
Dan Levitan, co-founder of Maveron. Photo by Maveron.
Exclusive Venture Capital Startups
Consumer VC Firm Maveron Raises $225 Million Amid ‘Serious Paradigm Shift’
Venture firm Maveron, whose well-timed investments in eBay and Drugstore.com helped it get through the 2000 dot-com bust with relative ease, had a tougher time during the financial crisis eight years later, when it was forced to downsize and narrow its focus to early-stage investing in consumer brands.
Brian Armstrong, chief executive officer of Coinbase. Photo by Bloomberg.
Exclusive Crypto Culture
Coinbase Tests App for Employees to Grade Each Other During Meetings
Coinbase, a cryptocurrency trading firm that garnered attention for banning salary negotiations and political speech among employees in recent years, is testing another practice that has raised eyebrows internally: asking employees to frequently rate each other.