The Information

AngelList founder Naval Ravikant. Photo: Flickr/TechCrunch

AngelList to Launch $35 Million Fund to Groom VC Investors

By Serena Saitto · Jan 9, 2018 7:00am PST · 8 comments

Naval Ravikant shook up early-stage investing by launching AngelList. Now, working with Boston-based venture capital firm Accomplice, Mr. Ravikant has raised a $35 million fund that will groom tech investors and increase opportunities to invest in very early-stage tech startups.Mr. Ravikant personally invested in the new fund, named Spearhead,... Naval Ravikant shook up early-stage investing by launching AngelList. Now, working with...

Snowflake CEO Bob Muglia. Photo by Flickr/MicrosoftPDC

Snowflake Computing Raised $270 Million at $1.5 Billion Valuation

By Serena Saitto and Kevin McLaughlin · Jan 3, 2018 5:29pm PST · 4 comments

Snowflake Computing, a five-year-old cloud database startup, has raised a $270 million Series E round of funding at a $1.5 billion valuation from existing investors, including Iconiq Capital and Altimeter Capital, according to a person with knowledge of the matter.The new valuation appears to be a significant increase on the reported $500... Snowflake Computing, a five-year-old cloud database startup, has raised a $270 million Series E...

Art by Mike Sullivan.

Google Takes On Microsoft With Voice, Video Upgrades

By Kevin McLaughlin · Jan 3, 2018 7:01am PST · 1 comment

Google Cloud is working on major improvements to its G Suite productivity applications to bolster its appeal to businesses. These include voice and video conferencing upgrades along with a new service for managing user identity data, according to three people who have been briefed on the plans. Central to the G Suite makeover is a new... Google Cloud is working on major improvements to its G Suite productivity applications to bolster...

Oracle co-founder Larry Ellison. Photo: Bloomberg

In Major Shift, Amazon, Salesforce Move Away From Oracle

By Kevin McLaughlin · Jan 2, 2018 7:00am PST · 5 comments

Oracle co-founder Larry Ellison. Photo: Bloomberg

In Major Shift, Amazon, Salesforce Move Away From Oracle

By Kevin McLaughlin · Jan 2, 2018 7:00am PST · 5 comments

On Oracle’s earnings call in mid-December, a Wall Street analyst asked whether the company was losing database customers to lower-cost alternatives. Oracle co-founder Larry Ellison insisted that its huge base of Fortune 500 clients, including two of its biggest customers, weren’t going anywhere. “Amazon continues to buy Oracle... On Oracle’s earnings call in mid-December, a Wall Street analyst asked whether the company...

Photo: Bloomberg

Inside Huawei’s Plans to Challenge Apple in the U.S.

By Juro Osawa · Dec 27, 2017 7:02am PST · 3 comments

The U.S. may no longer be a safe refuge for Apple and Samsung from the relentless rise of Huawei. When Huawei launches its flagship phone with AT&T early next year, the Chinese tech giant is finally going after Apple's home turf.It is the culmination of more than a year of work at Huawei, including confidential negotiations with... The U.S. may no longer be a safe refuge for Apple and Samsung from the relentless rise of Huawei....

Illustration by Mike Sullivan

Google Ramps Up Mobile Chipmaking With Talent From Apple

By Aaron Tilley · Dec 21, 2017 9:47am PST · 4 comments

Google has hired John Bruno, a well-regarded chip designer from Apple who had worked on the company’s series of iPhone chips since 2012. The hiring is part of a brewing effort by Google to design its own chipsets for consumer devices like the Pixel phone.Mr. Bruno follows a number of other experienced chip engineers who have defected to... Google has hired John Bruno, a well-regarded chip designer from Apple who had worked on the...

Didi President Jean Liu. Photo by Bloomberg.

China’s Didi in Talks to Buy Brazil’s 99, Threatening Uber

By Yunan Zhang · Dec 21, 2017 5:27am PST · 1 comment

Chinese ride-hailing giant Didi Chuxing is in talks to buy a majority stake in Brazilian ride hailing app 99, according to a person familiar with the talks. If the deal is completed, it would threaten Uber, which now dominates the Brazilian market.It could also accelerate a broader reorganization in the global ride-sharing sector pursued by Didi... Chinese ride-hailing giant Didi Chuxing is in talks to buy a majority stake in Brazilian ride...

A Pinterest-branded banner on the New York Stock Exchange earlier this year. Photo by Bloomberg.

Pinterest, After Just Missing 2017 Revenue Target, Plans Sales Ramp-Up

By Amir Efrati, Alfred Lee and Serena Saitto · Dec 20, 2017 3:39pm PST

A Pinterest-branded banner on the New York Stock Exchange earlier this year. Photo by Bloomberg.

Pinterest, After Just Missing 2017 Revenue Target, Plans Sales Ramp-Up

By Amir Efrati, Alfred Lee and Serena Saitto · Dec 20, 2017 3:39pm PST

Pinterest is likely to slightly fall short of its revenue projection for 2017, says a person briefed on the numbers. The company is expected to wait until 2019 to go public, giving it more time to accelerate growth and justify its $12.3 billion valuation, say people familiar with the situation. Pinterest, which people use to bookmark and search... Pinterest is likely to slightly fall short of its revenue projection for 2017, says a person...

An artists' rendering of the roof deck at Treehouse's first Los Angeles apartment building. Image by Treehouse.

Startups Take On More Risk to Popularize ‘Co-Living’

By Cory Weinberg · Dec 20, 2017 10:02am PST · 2 comments

Venture capitalists have been slow to warm to startups wanting to rent out shared living spaces like college dorms. Now, new coliving companies have emerged with a different approach to the business—one they say promises a higher return but carries much more risk.The new approach, pursued by startups like Starcity and Treehouse, involves... Venture capitalists have been slow to warm to startups wanting to rent out shared living spaces...

OfferUp CEO Nick Huzar. Photo by Bloomberg.

Sequoia, SoftBank Passed On OfferUp Investment

By Serena Saitto · Dec 15, 2017 5:38pm PST

Would-be Craigslist competitor OfferUp has been trying to raise about $100 million in financing for at least five months, according to people with direct knowledge of the situation. It’s been tough going, a sign of how quickly tech startups can lose popularity among investors.Prominent tech investors, including Sequoia Capital and... Would-be Craigslist competitor OfferUp has been trying to raise about $100 million in financing...

Snap CEO Evan Spiegel and People VP Jason Halbert. Art by Mike Sullivan

Employee Complaints About Snap Personnel Chief Led to Outside Inquiry

By Tom Dotan · Dec 15, 2017 2:43pm PST · 1 comment

There might not be a more unique, or controversial, human resources chief than Snap’s Jason Halbert, a decorated ex-military officer who served two tours in Afghanistan.Mr. Halbert, who came to Snap with no experience in corporate human resources but is close to CEO Evan Spiegel, is infamous for regaling the staff with military stories... There might not be a more unique, or controversial, human resources chief than Snap’s Jason...

SoftBank CEO Masayoshi Son. Photo: Bloomberg

New Hurdle for SoftBank’s Uber Investment: Regulatory Review

By Juro Osawa, Shai Oster and Serena Saitto · Dec 14, 2017 10:52am PST · 1 comment

SoftBank CEO Masayoshi Son. Photo: Bloomberg

New Hurdle for SoftBank’s Uber Investment: Regulatory Review

By Juro Osawa, Shai Oster and Serena Saitto · Dec 14, 2017 10:52am PST · 1 comment

SoftBank founder Masayoshi Son’s global buying spree is running into a potentially significant roadblock: the U.S. government.The fate of Mr. Son’s most ambitious moves, including the financing of his $100 billion Vision Fund and SoftBank’s proposed investment in Uber, hinges in part on the approval of the Committee on Foreign... SoftBank founder Masayoshi Son’s global buying spree is running into a potentially...

A Lyft car. Photo by Bloomberg.

Lyft Rejiggers Leadership Team as It Tackles Driver Costs

By Amir Efrati · Dec 13, 2017 9:33am PST · 1 comment

The manager of Lyft’s growth group, Ran Makavy, has been promoted to also oversee engineering, product, and design at the ride-hailing firm, said two people briefed about the change. Mr. Makavy, a former Facebook manager who joined in early 2016, is now one of the most powerful executives at the company aside from its co-founders. (See... The manager of Lyft’s growth group, Ran Makavy, has been promoted to also oversee...

Nextdoor CEO CEO Nirav Tolia. Photo by Bloomberg.

Nextdoor Raised $75 Million in New Round

By Serena Saitto and Alfred Lee · Dec 11, 2017 12:08pm PST

Nextdoor, the social media platform for city neighborhoods, has raised $75 million at a valuation above the $1.1 billion level it reached in its last fundraising round in 2015, according to two people close to the situation.The precise valuation couldn’t be learned. But in August, the company authorized $75 million in new Series G shares... Nextdoor, the social media platform for city neighborhoods, has raised $75 million at a valuation...

The Toutiao app on a smartphone. Photo: Mike Sullivan

China’s Toutiao Seeks $30 Billion Valuation in Latest Fundraising

By Yunan Zhang and Juro Osawa · Dec 8, 2017 5:29am PST

The company behind Jinri Toutiao, a popular Chinese news and video feed app, is in talks to raise new funds from some of its existing investors at a valuation of $30 billion or higher, people familiar with the matter said. The fundraising hasn't been completed. Some of the people familiar with the talks said that $28 billion is the bottom... The company behind Jinri Toutiao, a popular Chinese news and video feed app, is in talks to raise...

Clarifai founder Matt Zeiler. Photo by Flickr/ETC-USC.

Once Courted by Big Tech, AI Whiz Learns Hard Realities of Startup Life

By Kevin McLaughlin · Dec 6, 2017 7:02am PST · 1 comment

Clarifai founder Matt Zeiler. Photo by Flickr/ETC-USC.

Once Courted by Big Tech, AI Whiz Learns Hard Realities of Startup Life

By Kevin McLaughlin · Dec 6, 2017 7:02am PST · 1 comment

Matthew Zeiler was one of the most sought-after AI engineers in the tech industry after receiving his PhD from New York University in 2013. He was courted by everyone from Facebook CEO Mark Zuckerberg to executives at Google. But Mr. Zeiler passed on the offers and launched his own startup, Clarifai, with $10 million from Google Ventures,... Matthew Zeiler was one of the most sought-after AI engineers in the tech industry after receiving...

An Equifax slide on display during a congressional hearing into Equifax's data breach in October. Photo by Bloomberg.

Prevoty Funding Shows Impact of Major Security Breaches

By Sarah Kuranda · Dec 5, 2017 10:01am PST

Security startup Prevoty, which sells application security designed to help companies spot cyber threats, has landed $13 million in Series B funding, the company says. It is a sign that the steady stream of major hacks at companies is focusing attention on technology aimed at securing business applications. The funding was led by Trident Capital... Security startup Prevoty, which sells application security designed to help companies spot cyber...

Xiaomi CEO Lei Jun unveiling a new smartphone in China in September. Photo by Bloomberg.

Chinese Smartphone Maker Xiaomi Eyes 2018 Stock Market Listing

By Yunan Zhang, Shai Oster and Juro Osawa · Dec 1, 2017 8:18am PST · 1 comment

China’s Xiaomi, one of the world’s biggest smartphone makers, is talking to bankers about an initial public offering as early as the second half of next year, people familiar with the matter said. It would be the public market debut of one of China’s most widely recognized tech brands. Xiaomi was valued at about $46 billion in... China’s Xiaomi, one of the world’s biggest smartphone makers, is talking to bankers...

Lyft's driver hub in Los Angeles. Photo by Bloomberg.

Lyft Cut Losses on Sharply Higher Revenue in First Half

By Amir Efrati · Nov 30, 2017 12:11pm PST

Lyft’s finances improved in the first half of 2017, new documents show, as the company lost less money on revenue estimated to be 200% higher than the year-earlier period. Lyft’s improvement came as U.S. ride-hailing leader Uber experienced scandal after scandal, which shifted some riders to Lyft.Lyft brought in $483 million in... Lyft’s finances improved in the first half of 2017, new documents show, as the company lost...

Google co-founders Larry Page and Sergey Brin. Photo by AP.

Google Reckoning With History of Interoffice Romance by Top Execs

By Reed Albergotti · Nov 29, 2017 10:09pm PST · 7 comments

Google co-founders Larry Page and Sergey Brin. Photo by AP.

Google Reckoning With History of Interoffice Romance by Top Execs

By Reed Albergotti · Nov 29, 2017 10:09pm PST · 7 comments

The romantic relationships within the walls of Google made ideal fodder for gossip columns and magazine profiles.Co-founder Larry Page dated Google lieutenant Marissa Mayer in the company’s early days, and co-founder Sergey Brin later drew attention for dating Amanda Rosenberg, a younger colleague. CEO Eric Schmidt dated publicist Marcy... The romantic relationships within the walls of Google made ideal fodder for gossip columns and...