Cover image of Equity
(135)
Business
News & Politics
Technology
Business News
Tech News

Equity

Updated 9 days ago

Business
News & Politics
Technology
Business News
Tech News
Read more

Equity is TechCrunch’s venture capital podcast. In each episode, you'll hear the stories behind the money that runs Silicon Valley. TechCrunch reporter Kate Clark and Crunchbase News Editor-in-Chief Alex Wilhelm team up with Connie Loizos, Danny Crichton and the most notable VCs in the industry to analyze who's raising, who's selling out and who's going public.

Read more

Equity is TechCrunch’s venture capital podcast. In each episode, you'll hear the stories behind the money that runs Silicon Valley. TechCrunch reporter Kate Clark and Crunchbase News Editor-in-Chief Alex Wilhelm team up with Connie Loizos, Danny Crichton and the most notable VCs in the industry to analyze who's raising, who's selling out and who's going public.

iTunes Ratings

135 Ratings
Average Ratings
87
17
11
11
9

Ok show but not for me

By poscast_lover - May 01 2019
Read more
- not enough variety; feels like a 1:1 podcast about Uber...scope too limited for my preference. - Alex seems like the typical privileged male that speaks over others (especially the women) which I find disrespectful and I don’t find the personality mix a good fix (the bragging and need for validation distracts from my ability to enjoy the podcast) - listened to quite a few (almost all) their episodes hoping I’d feel better about the podcast but that hasn’t changed. Keep crusting it because you all clearly have a following but I will not be unsubscribing.

Makes my Friday

By thebigchuzz - Jul 10 2018
Read more
Just wish it was a little longer!

iTunes Ratings

135 Ratings
Average Ratings
87
17
11
11
9

Ok show but not for me

By poscast_lover - May 01 2019
Read more
- not enough variety; feels like a 1:1 podcast about Uber...scope too limited for my preference. - Alex seems like the typical privileged male that speaks over others (especially the women) which I find disrespectful and I don’t find the personality mix a good fix (the bragging and need for validation distracts from my ability to enjoy the podcast) - listened to quite a few (almost all) their episodes hoping I’d feel better about the podcast but that hasn’t changed. Keep crusting it because you all clearly have a following but I will not be unsubscribing.

Makes my Friday

By thebigchuzz - Jul 10 2018
Read more
Just wish it was a little longer!
Cover image of Equity

Equity

Updated 9 days ago

Read more

Equity is TechCrunch’s venture capital podcast. In each episode, you'll hear the stories behind the money that runs Silicon Valley. TechCrunch reporter Kate Clark and Crunchbase News Editor-in-Chief Alex Wilhelm team up with Connie Loizos, Danny Crichton and the most notable VCs in the industry to analyze who's raising, who's selling out and who's going public.

Rank #1: Startups seek sperm... And venture capital backing

Podcast cover
Read more

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.

This week we were helmed by Kate Clark and Alex Wilhelm, but those of you who love the show having guests on don't despair. As we explain at the top, there's a lot of folks coming on the show soon, many of whom you know by name.

But that's to come, and we had a lot to chat through this week. Including, right from the jump, the latest gyrations in the stock market. Earlier this week tech stocks, and especially cloud and SaaS stocks, took a nosedive. Sentiment swung around later in the week when markets caught their breath and Lyft's earnings went well. But the movement in highly-valued SaaS companies caught our eye. Perhaps if the market finally does correct, we'll see growth stakes take the worst of it.

But it wasn't all bad news on the show, a new app that raised $5 million caught Kate's attention. It's called Squad and it's now backed by First Round Capital, the seed fund behind the likes of Uber. You can read Kate's interview with the founder, Esther Crawford, here.

Next, we turned to two startups that are focused on male reproductive health. While we've covered startups focused on fertility before on the show, this is the first time we've delved into male-focused services that are designed to help men take part in conception. The news here is Dadi has raised another $5 million in venture capital funding. Legacy, the other male fertility company we discussed, is taking part in Y Combinator's summer batch right now.

On the IPO-ish beat, we talked about Postmates which has a new stadium partnership, and, more importantly, permission to use cute robots to deliver things in San Francisco. After hearing about how small, rolling robots will handle last-mile deliveries for years, we're excited for them to actually make it to market. In our view, technology of this sort won't eliminate the need for human workers at on-demand shops, though they may replace some routine runs. Bring on the burrito robots.

We closed on Airbnb's purchase of Urbandoor, yet another acquisition from the popular home-sharing company that will eventually go public. It has to, right? Perhaps Urbandoor will help unlock new revenues in the corporate travel space before we see an S-1. After all, Airbnb wants to debut with plenty of growth under its belt to help it meet valuation expectations. Adding revenue to its core business could be a good way to ensure that there's new top-line to report.

More to come, including something special next week!

Aug 09 2019
24 mins
Play

Rank #2: Unpacking DoorDash's $410M Caviar acquisition

Podcast cover
Read more

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.

This week Kate and Alex were back to dig through a surprising number of fresh rounds and new funds along with a little breaking news. The traditional VC summer is nowhere to be seen in 2019, so expect the show to stay packed for the foreseeable future.

DoorDash's decision to buy Caviar from Square upended our agenda. The decacorn's decision to drop $410 million in cash and stock on an asset that Square had spent around $90 million on was nearly confusing. Square couldn't offload the damn thing for $100 million back in 2016; Jack's second company has now shed an unprofitable arm that looked less and less core to its operations as time has gone along. And DoorDash turned cash and stock into a bit of growth.

Next on the docket was Clearbanc. The company, which wants to disrupt venture capital by popularizing the revenue-based financing model, raised a $50 million round and announced a $250 million fund. We're keeping a close eye on this company, as its fast-growth is relatively unmatched. Plus, Kate's interviewing Clearbanc co-founder Michele Romanow at TechCrunch Disrupt San Francisco, our annual conference that brings together the leaders of tech today. So that's fun.

In this week's edition of SaaS Watch, Monday.com raised $150 million at a $1.9 billion valuation. The corporate task management and productivity company is another firm selling software to help teams work together more efficiently. Slack, Asana, Notion and others are working in related areas.

Our second to last topic was Compass. There wasn't enough time to go too deep but here's the TL;DR: Compass raised a whopping $370 million on a valuation of $6.4 billion.

And finally, PowerPlant ventures raised a second, larger fund. The new $165 million vehicle will follow the first (a $42 million capital pool, as TechCrunch reported), investing in plant-based food companies. With the epic rise of Beyond Meat on the public markets, plant-based foods are hot and investors want a bite of the results. Also, we dig niche, focused funds.

Reminder, you can connect with us via email at equitypod@techcrunch.com. We're open to feedback, suggestions and even compliments!

Aug 02 2019
23 mins
Play

Rank #3: Cisco buys Duo, Brandless raises $240M, and Apple broaches $1T

Podcast cover
Read more

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines.

This week TechCrunch's Matthew Lynley and Crunchbase News's Alex Wilhelm were joined by Jyoti Bansal, the founder of AppDynamics and a partner at Unusual Ventures, among other startup work.

Our own Connie Loizos was off this week.

This episode was effectively a news grab-bag. There's a little of everything: public company drama, big rounds, acquisitions, and more.

Up top: Apple's broaching of the $1 trillion barrier, which some people called early and some people called late. It depends on how you were counting. But the venerable consumer electronics giant did indeed manage to hoist its market cap over the trillion dollar mark, making it the first American company to do so.

But as we all wind up agreeing, it's just a round number.

Moving along Sonos's IPO had a good first day but only after a disappointing pricing run. Or as Lynley explains on the show, the firm had to price under its target range to go out, but then closed above that target range by the end of its first day's trading. This is more evidence that pricing an IPO is an occult art of sorts. (More here on the company's numbers.)

Scooting along, Duo Security is exiting to Cisco for $2.35 billion. This deal came at quite literally the perfect moment as the company our guest founded sold to Cisco for $3.7 billion last year. Why? Recurring revenue, which is seeing its value rise.

And finally, Brandless, which picked up a massive $240 million round led by the ever-hungry SoftBank Vision Fund. A deal to which I had a question: Why?

All that and we even managed to tell a joke and mangle a segue. More next week!

Aug 03 2018
33 mins
Play

Rank #4: Slack raises, Dropbox and Snap report earnings, and Magic Leap is real

Podcast cover
Read more

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines.

This week Matthew Lynley and Alex Wilhelm were joined by 500 Startups CEO Christine Tsai for what turned out to be a super packed episode.

We kicked off with the latest from Slack: $400 million new dollars at a shiny, new $7 billion valuation, according to TechCrunch. The new capital comes after the firm raised a huge sum last year from SoftBank's Vision Fund.

We dug into why the company would raise again, and what competitors it has left after the Atlassian deal.

Next up, two earnings reports. Continuing our tradition of keeping tabs on recent tech IPOs, we talked through Snap and Dropbox which reported earnings this week. Both lost ground after doing so. Ironically, they each beat financial expectations.

Snap ended up dropping value over a DAU decline, and Dropbox's fall is still a bit undetermined. But by the time this episode ships, perhaps the market will have figured it out.

Next up we scrolled through the key reviews of the commercially available Magic Leap headset that is out at last. It's a bit pricey, and a bit not-what-people-expected, but the well-funded startup seems to have avoided a complete miss. Its second-generation device may prove to be more impactful.

And finally, big news from China. As has become the norm on Equity, a few big Chinese rounds captivated us. This time it was the Manbang news, and what's going on at Bytedance.

All that and we'll be back in a week's time. Stay cool!

Aug 10 2018
37 mins
Play

Rank #5: Why the hell is Robinhood worth $7.6B?

Podcast cover
Read more

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.

This was a special week for us because Danny was back in the office, which meant we cornered him into coming on the show. Danny, of course, is an Equity regular. Also aboard this week were our regular hosts, Kate and Alex.

We were relieved to have three hosts because there was a lot of news to get through, from IPOs to late-stage financings to little seed fundings, and we shit you not, camping!

Up first was the rapidly-approaching WeWork IPO. WeWork, also known as The We Company, filed to go public some time ago. So we weren't terribly surprised to learn the company is plotting a September listing. Though that's earlier than we'd been expecting, we're not complaining. If the sooner-than-anticipated IPO is due to market timing, or the company simply being ready we don't know yet. But we will when we see the numbers. Bring on the S-1 filing.

Next Alex took us through a few recent and upcoming IPOs. He promised to be brief, so we'll mirror the feat here. Last week Phreesia, Medallia, and DouYu went public (notes here), Livongo got out this week (S-1 review here), and 9F and CloudMinds have filed. Expect more IPO news in time whether you want it or not.

Leaving the public markets, Kate had words concerning the forthcoming Bird round that has yet to close. The company is raising its Series D led by Sequoia at a $2.5 billion valuation. Listen to the episode for your weekly scooter rant.

Next, Danny took us through the Robinhood round, which brought us to a discussion point. Alex wanted to compare Robinhood to Slack, when the latter company was worth about the same amount as Robinhood is now. Kate objected to the comparison, one's an enterprise software business and the other a fintech giant. Still, Alex had lots of great points.

We then turned to HipCamp. The company, known as Airbnb for camping, raised a nice round of funding at a $127 million valuation. Andreessen Horowitz was involved via new general partner Andrew Chen, who recently announced another deal in the email subscription platform Substack. We're betting Airbnb gobbles up HipCamp at some point.

We also touched on Gusto's $200 million raise (and its constituent new valuation), before closing with the now-very-probable Vision Fund 2.0 and its Microsoft connection.

All that and we left even more material on the floor due to time. Make sure to check Equity out on Spotify if you haven't seen us over there before. Click here to find the show.

Jul 26 2019
24 mins
Play

Rank #6: Pinterest's path to IPO, and Snap tries to buy a future

Podcast cover
Read more

Our little quorum this week, which included Indy Guha from Bain Capital Ventures, dove into critical stories, including Pinterest's new capital event which saw the firm bring in a comparatively modest sum for a comparatively modest valuation bump; Snap's purchase of Placed to, in the words of TechCrunch's Josh Constine "prove geofilters drive store visits"; ShotSpotter's debut; and, as you must have guessed, the Tintri IPO filing, which left us with a few questions.

Jun 09 2017
32 mins
Play

Rank #7: GitHub's epic exit, Domo's dicey math, and Dataminr's big raise

Podcast cover
Read more

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.

This time ’round we had Connie and Alex on hand with Brian Ascher, a longtime partner with Venrock down in Palo Alto, Ca. It was a surprisingly busy week, so we had our work cut out us. Without further ado:

Github! The biggest story in tech this week was right up our alley: Microsoft bought the venture-backed GitHub for $7.5 billion, bringing a massive portion of the developer world under its auspices. Whether developers want passports to Redmond remains up for debate, but from a corporate perspective, Microsoft’s move has largely been well-received. The transaction also provided a huge bump for GitHub’s investors, including a16z.
Domo! Another tech company is fighting to go public, but this time there’s doubt it can pull it off. Domo’s numbers are the wrong side of rough, with the firm burning tectonic amounts of cash to grow quite modestly. If the firm manage to go public, and soon, it may struggle to stay alive.
Scooters! As per usual, there’s new money flowing into the scooter niche. (Note: Domo is looking to tap the public markets at a time when scooter companies can raise $450 in two rounds. Ouch.) We try to find out if Bird and Lime are worth the change, as well why do they need so much cash. We also touched on the broader crowded non-car, on-demand transit space.
Dataminr! Sticking to the mega-round theme, Dataminr’s huge raise was perfectly timed for this episode, as our guest’s firm has money in the company. Indeed, with $221 million more in its pocket, Dataminr — which makes of online chaos for its customers — has an epic bankroll from which to bet.
Here’s a fun question: What will Equity sound like when the market turns and we cover the slowing of venture and the compression of valuations instead of venture acceleration and towering new post-money figures? All we know today is that the venture world is investing like that reality is far-off. We’ll see.

Hit play, and we’ll be right back.

Equity drops every Friday at 6:00 am PT, so subscribe to us on Apple Podcasts, Overcast, Pocket Casts, Downcast and all the casts.

Jun 08 2018
31 mins
Play

Rank #8: Tesla’s drama, China-based companies are listing in the U.S., and SurveyMonkey is (finally) going public

Podcast cover
Read more

This week, we were a man down, with the excellent Alex Wilhelm of Crunchbase News on a vacation that someone seems to have sanctioned, though it was not us, as we don’t believe in vacations. (Wilhelm, get back here.) We did, happily, have the very knowledgeable Kirsten Korosec of TechCrunch join us on the line; we were also joined by this week’s personable in-studio guest: Lauren Kolodny, a partner at the San Francisco-based, early-stage venture firm Aspect Ventures.

It was the perfect mix to talk about car makers and more car makers, including Tesla and CEO Elon Musk’s seemingly ill-planned plans to take the publicly traded company private, then vacillating a bit before changing his mind again, much to the chagrin of his board, the company’s shareholders, and poor Kirsten, who was trying to enjoy her evening last Friday when Musk decided (for now) to leave well enough alone and drop the whole cockamamie idea of switching out Tesla’s investor base.

We also talked about Toyota’s announcement this week that it’s sinking $500 million into Uber and forming an intriguing if confusing driverless-car pact in the process. And we lingered on Nio, a four-year-old, Shanghai-based electric car vehicle that, if it has its way, will begin trading on the New York Stock Exchange in roughly two weeks — even though it only made $7 million in the first half of this year and reported a net loss of $503 million. Who’s counting, though? Not U.S. investors, it hopes.

Speaking of IPOs, we knew we’d be remiss not to talk about the IPO filing this week of SurveyMonkey, a now 19-year-old, San Mateo, Ca., company that’s beloved by both personal and business users of its analytical tools and surveys, but which is still not making money, owing in part to expensive debt that the company is currently servicing (and will pay down using its IPO proceeds). Will public shareholders embrace the company, which was last valued at $2 billion during its last private round in 2014 but whose value has subsequently been marked down by fully 25 percent since by fund manager Fidelity? Stay tuned!

We did not get to our favorite topic of scooters, running out time to chat about this major development and also this one. Knowing how much we love to toot about les scoots, rest assured that they will back next week, as will we, so tune in again then!

Aug 31 2018
27 mins
Play

Rank #9: Lyft goes biking, Airbnb is going public (eventually), big money for software robots, and Juul

Podcast cover
Read more

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines.

This week we were back in the studio with Connie Loizos and myself hanging out with Jai Das, a managing director at Sapphire Ventures. Our beloved Matthew Lynley was off this week, but he’ll be back for the next episode.

This week we had an excellent list of things to get to, first of which was Lyft’s latest shopping run. This time Lyft accreted to itself Motivate, a bike-sharing company that operates various programs in cities like New York City, and San Francisco.

The context for the transaction is threefold. First, Lyft just raised a bundle of money for effectively diddly dilution. Second, Uber bought Jump and there is no FOMO in the market today like ridesharing FOMO. And third, scooters, which now lurk in the background of any and every ridesharing conversation so the big shops are on a bit of defense.

The sum is that Uber and Lyft now own bike companies, which feels a bit 2017.

But moving along Unicorn Row we quickly found ourselves at the door of Airbnb which is prepping for a 2019-2020 IPO and a change to its personnel comp cadence, the latter due to its age and a market trend that Das noted concerning employee comp and shareholder dilution.

In other news, Airbnb needs a CFO, so if you are in the market that’s who to call.

Next up was Automation Anywhere’s epic $250 million Series A which brought the software process-automation company to a valuation of $1.8 billion. The firm helps companies execute repetitive software tasks at a fraction of the cost of having humans click the buttons.

And we wrapped with Juul, everyone’s favorite e-cigarette company that has simply beautiful financials. If it’s ethical is something that we spent a moment talking about.

So fire up your vape or just hit play and we’ll be right back in seven days.

Jul 06 2018
33 mins
Play

Rank #10: Scooters go mad, Opendoor wants to buy your house, and Meituan’s IPO

Podcast cover
Read more

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines.

This week was something of a first for the crew, twice. First, we had two guests on the show, and, also, we only made it through two and a half topics. The former is good, the latter is, well, we’ll see.

So, this week Matthew Lynley and I were joined by David Chao, co-founder and general partner at DCM, and Steve Vassallo, a general partner at Foundation Capital. Points to both for being guinea pigs.

Heading into our first topic I’m sorry to inform you that, at least in terms of Equity, scooters are the new Uber. So, we wound up talking about both this week. We started with the fact that Bird is raising new capital at an even more staggering valuation than before ($2 billion!), and that Lime is working to raise a truckload of capital itself. (Reports vary, but it’s probably a $250 million equity round at around a $750 million valuation. There may also be some debt in the mix for Lime. More when we lock that down.)

And, as Chao’s firm is an investor in the space, we had even more to chew on.

Next up we dug into the massive new Opendoor round. The firm’s new $325 million puts it into a solid position to help people sell their houses. Which markets are the best fit was something for us to unspool, along with public market comps, such as they are. But most critical, at least in my view, was the idea of risk. On that point Vassallo made a reasonable argument regarding stress testing. We’ll see.

And finally, we touched on Meituan’s impending IPO, and how it came to be.

Thanks for sticking with Equity after all this time. We’ll be back next week with another round of chatter about the latest, greatest, and dumbest that tech has to offer.

Jun 15 2018
28 mins
Play

Rank #11: Uber gets into scooters, every VC is raising, and why private equity loves SaaS

Podcast cover
Read more

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines.

This week we had the full crew in the studio along with a friend. The excellent Connie Loizos hosted, and Matthew Lynley and I were both on as well, along with our guest this week: Graham Brown, a partner at Lerer Hippeau, an early-stage venture fund based in New York.

We took a slightly different tack this episode. Yes, scooters came up, but we have some later-stage notes that should be a welcome reprieve for regular listeners. Also, no crypto!

Up first was the Uber-Lime deal. Lime, one of the two domestic scooter darlings, raised a brick of new capital recently, including monies from ridesharing giant Uber. Getting a tie-in with Uber does two things. First, it dramatically raises the profile of Lime domestically as it can perhaps tap into the Uber customer base. And, second, it puts pressure on Lyft (an Uber competitor) and Bird (a Lime competitor) to do a deal themselves.

Jul 13 2018
34 mins
Play

Rank #12: Zoox's fresh $500M, how to spend $6.3B and Microsoft's fine fiscal year

Podcast cover
Read more

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines.

This week we had another full house which made for a good time. Our own Connie Loizos, Matthew Lynley and I were joined by Renata Quintini, a partner at Lux Capital.

Today's episode is a grab bag of topics, including some self-driving stuff, late-stage venture noodling, and Microsoft. So, this show hit on every topic I used to have listed on my OkCupid profile.

First up was Zoox's epic $500 million infusion. The self-driving company is notable for its full-stack approach, and, as Lux is a long-time investor in the project, we had the perfect guest on hand to help us discuss it. As you can imagine, we dug around who else is working in the space, what SoftBank is up to, and why Zoox might need so much capital.

Oddly enough everyone 'round the table found the dollar amount pretty reasonable. We apologize for the lack of drama.

Next up we peeked at Insight Venture Partners' epic new fund, and how some founders are looking to provide liquidity to their investors without exiting. As you can imagine, we wanted to know how these Very Large Indeed funds are going to return enough capital to make their LPs happy. We also spent some time chewing on what happens to startups that wind up growing, but not as quickly as their venture backers had originally hoped.

Finally, Microsoft's earnings. We don't do too much about the already-public, but Microsoft's latest digest was something that we couldn't pass up. The company posted another set of healthy growth as it scampers along in the $1 trillion race.

And that's about it. We'll be back in a week with more Equity.

Jul 20 2018
34 mins
Play

Rank #13: SoftBank pays big, SurveyMonkey goes public and JUUL's next step

Podcast cover
Read more

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines.

This week on Equity, the gang was back together. We had the ever-excellent Connie Loizos on hand, along with TechCrunch's Danny Crichton, and myself, on loan from Crunchbase News. Even better we had Iris Choi on the show. When she's not hanging out with us for the pod, she's a partner at Floodgate.

This week was another that offered a panoply of topics that we couldn't get to in detail. Stripe's huge new round, and attendant valuation bump, for example. Oh, and new Lyft financials too!

But we picked out the best, divvied them up, and here's what we chose:

The SoftBank Payroll: SoftBank was super active in the past week, dropping capital into a number of companies. OYO was up first, a budget hotel startup based out of India. SoftBank has been a recurring investor in the firm, but most recently helped drop a billion dollars more into the company.
Also on the SoftBank front was a brace of real estate companies: Opendoor and Compass. Both raised $400 million this week, and SoftBank is backing each with checks. If the move was oddly internally competitive or not, is up for debate. Still, more huge checks from the Vision Fund.
SurveyMonkey's IPO: After a long road to the public markets, the venerable SurveyMonkey managed to raise its IPO price above-range, and sold more shares than planned as well. Its stock then took off.
Bitmain's IPO numbers, redux: After posting an incredible Q1, Bitmain had a pretty lacking Q2. Will this scuttle an IPO that was supposed to be a hot ticket? Can one of the most famous crypto-focused companies go public at all?
All that and we still had time to natter about JUUL, about which Connie had great notes on from her recent interview with the founders.

That is us, thanks for coming around, and stay cool!

Sep 28 2018
34 mins
Play

Rank #14: Live from Disrupt SF: Peak Valley Edition

Podcast cover
Read more

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines.

This week was incredibly fun. We recorded live from the first floor of TechCrunch's Disrupt SF confab, putting us right in the middle of the action. So it was good that we had a full crew on hand to natter about the news. From TechCrunch, Connie Loizos and Danny Chricton were on deck, along with myself. In addition to us regulars, Garry Tan joined in. He's a managing partner at Initialized Capital.

So we had the crew, a lovely stage, and four mics. Putting that together we kicked off with some ironically non-Valley news, in particular, Amazon reaching the $1 trillion market cap threshold. The firm has since given back around $50 billion in value, but we wanted to know why it was up, and why it was down.

Seguing with some precision we tucked into the recent "Peak Silicon Valley" conversation, specifically predicated on two recent pieces from the Economist (here, and here) that, in effect ask the question is the Valley no longer what it once was? And the answer, as you can imagine, is a firm kinda.

Next up we riffed on the recent crypto meltdown. Tan was not concerned, noting that you have to have 10 percent down days to have 10 percent up days. I found that hard to stomach, but crypto remains young, per Tan, so perhaps we'll see things calm down yet.

Next, two IPOs. First up: Elastic, a search company that seems quite young has an impressive set of numbers to show off. It's not as hot as Snap, perhaps, but the firm is in good shape to make a good debut. And Upwork is going public as well. If Elastic is quick to IPO and quick growing, Upwork is a bit less of each. It's older and growing more slowly.

The firms are linked by an investor, however, something that Crichton broke down for us here.

We wrapped with Caffeine's $100 million round, and the changing pace of supergiant capital injections. And then we stopped talking, so we'll catch you all in seven days. Thanks for being great!

Sep 07 2018
28 mins
Play

Rank #15: 2017’s top tech acquisitions and what’s in store for 2018

Podcast cover
Read more

This week we took a look back at the year’s M&A market, which brought some big wins and some low lights. Equity this week was Katie Roof, Alex Wilhelm, and Jamie Leigh, a partner at Cooley, who joined us to go over the year’s receipts.

What to look for ahead? Leigh mentioned big box stores, Roof brought up automakers, and we also kicked over the idea of non-tech companies buying smaller firms that are not merely talent plays. (Instead, this about investments in long-term efforts to build in-house innovation instead of stapling on a startup to one division or another.)

Also: How many deals didn’t get done in 2017 that got close to being done? More than you might have thought, and, according to our guest, that fact means that we could see more M&A in the first quarter or two in 2018.

(All that and Intel-MobileEye came up, Amazon-Whole Foods got a mention, Target-Shipt got a mention and more!)

This is the second, and final 2017 wrap-up episode we have for you. Starting next week, it’s back to the regular show! Catch you all next week.

Jan 12 2018
26 mins
Play

Rank #16: More funding for scooters, Cruise gets a boost, and Chinese IPOs

Podcast cover
Read more

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines.

This week was fun. Back in the studio, Connie Loizos, Matthew Lynley, your humble servant, and Ramneek Gupta, managing director of Citi Ventures was with us to provide the venture perspective.

As you can probably guess, we got a bit stuck in Bird’s nest, trying to vet why the young company is hoping to punch its unicorn card in nigh-record time. The firm’s potential new $150 million round may make it a unicorn, but Lime is in the chase, and the firm’s economics are still not fully understood.

What did we agree on in the end? Scooters are fun, and Lynley said a swear.

Moving ahead, SoftBank’s Vision Fund is cutting another check, this time to General Motors. Yes, the galactic slushfund is dropping up to $2.25 billion into GM’s Cruise arm, a former startup that the American metal-shaper scooped for around $1 billion in 2016.

The deal, of course, is complicated: Most of the SoftBank money won’t land until certain performance marks are met, and GM is also putting money into the thing that it owns — $1.1 billion worth. So, if we don’t count the GM money as part of a post-money valuation, we can calculate that SoftBank’s 19.6 percent stake in Cruise values the company at over $11 billion.

Sure!

Next up, Ant Financial is raising $10 billion at a $150 billion valuation, give or take. That’s a lot. This brought up the ever-interesting struggle between Alibaba and Tencent, of course, as Ant is an Alibaba -affiliate that competes with Tencent’s WeChat’s WePay product.

Sticking to China, we wrapped on the NIO IPO, yet another Chinese company looking to debut on a US market.

All that and we even told some jokes! Hit play and we’ll be right back.

Jun 01 2018
33 mins
Play

Rank #17: More scooter dollars, Slack’s revenue projections, and the IPO traffic jam

Podcast cover
Read more

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.

We’re back! After what I think was our first-ever break, Kate Clark and I sat down to dig into the latest startup venture news. There was a lot. We had to skip a few rounds to squeeze the show down to size, but we still hit the biggest stories.

Jan 18 2019
22 mins
Play

Rank #18: Spotify's impending debut, Uber's done deal, and Nasdaq 7,000

Podcast cover
Read more

This episode, the first of 2018, saw our own Katie Roof and your humble servant (Alex) joined by Atish Davda, CEO, and founder of EquityZen. Matthew Lynley is off this week.

(Davda's firm put together a landing page for Equity, which we thought was neat.)

This week saw the culmination of a huge number of stories that we have discussed in 2017. Namely that Spotify has finally filed for its direct listing, and the Uber-Softbank deal is done.

Regarding Spotify, we got into why it would pursue a direct listing instead of a traditional IPO. And, of course, we are curious as to when the popular music streaming company actually does get out the door. With a private filing in December, the answer is essentially whenever, from our outside perspective.

And now, in the wake of the SoftBank-Uber deal finally getting itself done, what is Uber worth? There are a few numbers you can use. There's one around $50 billion and one around $70 billion. We pick over both to figure out which one we think is fair.

All that and we riff about the rapid rise of the public markets in the last few years.

Hit play, and we'll be right back in a week's time.

Jan 05 2018
31 mins
Play

Rank #19: Lyft's driving fast, Blue Apron's troubles and bitcoin infinity

Podcast cover
Read more

On the latest episode, we were joined by Nagraj Kashyap, who runs Microsoft Ventures.

Topics this week included Lyft's growing financials and its driverless cars. It looks like the company benefitted during Uber's eventful year. 

We also talked about the change of leadership at Blue Apron.The company has had a very unfortunate ride on the stock market since it went public in June.

Then we discussed the latest sexual harassment allegations in the venture capital community. A well-known VC is taking a leave of absence.

And of course, we discussed the recent surge of bitcoin. Is it here to stay?

Dec 08 2017
30 mins
Play

Rank #20: 2017 IPO recap and who will go public in 2018

Podcast cover
Read more

This week the crew — Katie Roof, Matthew Lynley, Alex Wilhelm — were joined by Barrett Daniels, the CEO of Nextstep Advisory, an IPO shop that helps companies go public.

Guess what we talked about?

Yes, we went back through the biggest debuts of 2017, several of the quiet hits and the laggards. We also answered critical questions like "what was the worst IPO of 2017?" (For more results, check the spreadsheet here.)

And, it being our holiday episode, we played a bit of what if. Or what may be, looking into 2018. After all, some IPOs that we expected to see have yet to appear (Vice, Pinterest, Dropbox), while some have cropped up before we thought that they were probably fully-cooked (Snap, Blue Apron).

So, what's to come? You'll just have to listen.

This is the last 2017 Equity episode. Thanks to all of you for tuning in this year. Equity was a bit of an experiment that has taken on a life of its own.

It's super delightful to bring it to you each and every week. Here's the podcast team:

Christopher "The Beard" Gates who handles the mics, editing, and more. He keeps the show running day-to-day. Without Mr. Gates, there is no Equity.

Henry "What's Wrong Now?" Pickavet keeps the upper-level glue in place so that we can keep the show rolling.

Yashad "Wedding Bells" Kulkarni, who keeps All Things Video And Audio in ship-shape for us so that we can record without exception.

Also: Extra thanks to Katie, Lynley, and the Crunchbase News team for putting up with me leaving every week to go play. (And you, for reading this far.)

Dec 29 2017
27 mins
Play

Similar Podcasts