Fintech’s Big Wakeup Call
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Deals
Below is a collection of every Deals article by The Information.
Deals
startups
Breaking Up SVB Is Hard to Do
By
Michael Roddan
· March 23, 2023 1:14 PM PDT
With bids for the entity formerly known as Silicon Valley Bank due Friday, potential buyers and regulators are running into an interesting reality: Breaking up—and salvaging—SVB is hard to do. Nearly two weeks after SVB failed, the Federal Deposit Insurance Corp. has yet to find a buyer for the so-called bridge bank that took over...
With bids for the entity formerly known as Silicon Valley Bank due Friday, potential buyers and...
Deals
startups
No More Four-Year Lockups: Stripe’s Sprint to a $7 Billion Fundraising Haul
By
Maria Heeter
and
Cory Weinberg
· March 16, 2023 2:31 PM PDT ·
2 comments
Two years ago, when Stripe raised money at a valuation of $95 billion, the payments giant had such an upper hand over investors that it could institute some highly unusual conditions in its fundraising round. Investors had to agree to hold onto their shares for four years after the company went public. And Stripe had the option to sell them even...
Two years ago, when Stripe raised money at a valuation of $95 billion, the payments giant had...
Deals
venture capital
startups
Private Equity Giant Apollo Talks to VC Firms About SVB Bid
By
Erin Woo
and
Amir Efrati
· March 13, 2023 4:36 PM PDT ·
3 comments
Private equity firm Apollo Management has been talking to General Catalyst, Andreessen Horowitz, Redpoint Ventures and other venture capitalists as the PE firm considers bidding for part of the bank, according to five people with knowledge of the discussions. The PE firm’s inquiries were preliminary and designed to determine whether a bid...
Private equity firm Apollo Management has been talking to General Catalyst, Andreessen Horowitz,...
Y Combinator to End Late-Stage Startup Fund, Lays Off Staff
By
Kate Clark
and
Erin Woo
· March 13, 2023 1:27 PM PDT ·
1 comment
Deals
venture capital
startups
Y Combinator to End Late-Stage Startup Fund, Lays Off Staff
By
Kate Clark
and
Erin Woo
· March 13, 2023 1:27 PM PDT ·
1 comment
Silicon Valley startup accelerator Y Combinator won’t raise another continuity fund, which backs mature private tech companies, two people familiar with the matter said. The partners who led the fund, Anu Hariharan and Ali Rowghani, plan to leave the firm, the two people said. The pair plan to set up a fund together, one of the people...
Silicon Valley startup accelerator Y Combinator won’t raise another continuity fund, which...
Deals
OpenAI Rival Anthropic Raises Funding at $4.1 Billion Valuation
By
Kate Clark
· March 8, 2023 1:37 PM PST ·
1 comment
Spark Capital is leading a $300 million investment in artificial intelligence startup Anthropic, one of the primary startup challengers to OpenAI, at a pre-investment valuation of $4.1 billion, according to two people familiar with the matter. The deal follows a $400 million investment in the startup by Google, one of the people said. ...
Spark Capital is leading a $300 million investment in artificial intelligence startup Anthropic,...
Deals
Stripe Cuts Valuation to $50 Billion After Facing Fundraising Hurdles
By
Maria Heeter
and
Cory Weinberg
· Feb. 28, 2023 4:43 PM PST ·
5 comments
Stripe has cut the valuation for its multi-billion-dollar fundraising by about 10% to around $50 billion, according to two people familiar with the situation, underlining the challenges that Stripe has faced in completing the fundraising. While Stripe is still expected to complete the funding round, it is now setting the per-share price at about...
Stripe has cut the valuation for its multi-billion-dollar fundraising by about 10% to around $50...
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