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Hustle Fund’s Elizabeth Yin discusses 2020’s fundraising landscape - techcrunch

Hustle Fund’s Elizabeth Yin discusses 2020’s fundraising landscape

On the heels of her conversation-driving Twitter thread on 2020’s venture fundraising climate, Hustle Fund’s Elizabeth Yin converted her thoughts into an op-ed for TechCrunch. In keeping with her expansive thread, we asked her to adapt her thread for a TechCrunch column and join us for an extended conversation. What follows is an interview between […]
techcrunch - 28 minutes ago
Outdoor Voices founder Tyler Haney says adios altogether to the company amid layoffs - techcrunch

Outdoor Voices founder Tyler Haney says adios altogether to the company amid layoffs

Last week, the Business of Fashion broke the news that cofounder and CEO Tyler Haney was stepping down her role as CEO of the activewear label, citing slowing growth for the company and reporting that mismanagement was one reason for executive turnover at the top of the organization. The company soon after confirmed the news […]
techcrunch - 1 hour ago
Amazon all set to enter India’s food delivery market - techcrunch

Amazon all set to enter India’s food delivery market

Weeks after Uber exited India’s food delivery market, conceding defeat to local giants Swiggy and Zomato, a new player is gearing up to challenge the heavily-backed duopoly: Amazon. The e-commerce giant plans to enter the Indian food delivery market in the coming weeks, a person familiar with the matter told TechCrunch. The launch of the […]
techcrunch - 1 hour ago
Apple to begin online sales in India this year, open first retail store in 2021 - techcrunch

Apple to begin online sales in India this year, open first retail store in 2021

For a decade, Apple has solely relied on third-party sellers, stores, and marketplaces to sell its products in India. That will begin to change this year. At the company’s annual shareholder meeting Wednesday, chief executive Tim Cook told investors that Apple will open its online store in India, the world’s second largest smartphone market, at […]
techcrunch - 1 hour ago
As Block exits, Salesforce forecasts it will surpass $20B in revenue in FY2021 - techcrunch

As Block exits, Salesforce forecasts it will surpass $20B in revenue in FY2021

When Keith Block joined Salesforce from Oracle in 2013, the CRM giant was already a successful SaaS vendor on a billion dollar quarterly revenue cadence. When the co-CEO announced he was stepping down yesterday, the company reported revenue of $4.9 billion for the quarter. During his tenure, the the company’s scale more than quadrupled, earning […]
techcrunch - 1 hour ago
Grab your ticket: Only one week to TC Sessions: Robotics + AI 2020 - techcrunch

Grab your ticket: Only one week to TC Sessions: Robotics + AI 2020

It’s T-minus one week to the big day, March 3, when more than 1,000 startuppers will convene in San Jose, Calif. for TC Sessions: Robotics + AI 2020. We’re talking a hefty cross-section representing big companies and exciting new startups. We’re talking some of the most innovative thinkers, makers, researchers, investors and influencers — all […]
techcrunch - 2 hours ago
Lerer Hippeau leads $6M investment in Pinterest-like digital asset manager Air - techcrunch

Lerer Hippeau leads $6M investment in Pinterest-like digital asset manager Air

When it comes to the so-called “consumerization of the enterprise,” a workplace tool that looks an awful lot like Pinterest seems like it would be the trend’s final form. Brooklyn-based Air is building a digital asset manager for communications teams that aren’t satisfied with more general cloud storage options and want something that can show […]
techcrunch - 3 hours ago
Particle lays off 10% staff and co-founder departs after ‘turbulent period’ - techcrunch

Particle lays off 10% staff and co-founder departs after ‘turbulent period’

San Francisco-based startup Particle was one of the rising stars in the Internet of Things space, raising more than $81 million to date on the promise of helping to manage and secure the next-generation of connected devices. But the company is only now emerging from what it’s co-founder and chief executive Zach Supalla called a […]
techcrunch - 3 hours ago
Chicago’s M1 Finance, a consumer-focused fintech platform, reaches $1B under management - techcrunch

Chicago’s M1 Finance, a consumer-focused fintech platform, reaches $1B under management

Eagle-eyed readers will recall that we mentioned M1 Finance earlier today in our look at a few trends in the fintech industry. We’re back with the firm this afternoon as it has a bit of news that’s worth discussing. Chicago-based M1 Finance announced today that it has reached the $1 billion assets under management mark, […]
techcrunch - 3 hours ago
‘Konami Code’ creator Kazuhisa Hashimoto has died - techcrunch

‘Konami Code’ creator Kazuhisa Hashimoto has died

Up, up, down, down, left, right, left, right, B, A, then start. Sound familiar? The Konami Code, as this sequence came to be known, is one of the most recognizable artifacts of an earlier era of gaming. Kazuhisa Hashimoto, its creator, has used up the last of his 30 lives. Hashimoto was a programmer at […]
techcrunch - 3 hours ago
Cartesiam helps developers bring AI to microcontrollers - techcrunch

Cartesiam helps developers bring AI to microcontrollers

Cartesiam, a startup that aims to bring machine learning to edge devices powered by microcontrollers, has launched a new tool for developers who want an easier way to build services for these devices. The new NanoEdge AI Studio is the first IDE specifically designed for enabling machine learning and inferencing on Arm Cortex-M microcontrollers, which […]
techcrunch - 4 hours ago
Twitter opens its ‘Hide Replies’ feature to developers - techcrunch

Twitter opens its ‘Hide Replies’ feature to developers

Last November, Twitter rolled out its Hide Replies feature to all users worldwide. The feature, largely designed to lessen the power of online trolls to disrupt conversations, lets users decide which replies to their tweets are placed behind an extra click. Today, Twitter is making Hide Replies available to its developer community, allowing for the creation […]
techcrunch - 4 hours ago
Facebook’s Libra Association adds crypto prime broker Tagomi - techcrunch

Facebook’s Libra Association adds crypto prime broker Tagomi

$28 million-funded crypto startup Tagomi will be the newest member of the Libra Association that governs the Facebook-backed Libra stablecoin, TechCrunch has learned. A formal announcement of Tagomi joining was slated for Friday or next week. Tagomi offers a platform that helps large traders and funds easily access cryptocurrency markets. The news comes days after […]
techcrunch - 5 hours ago
Daily Crunch: Disney CEO Bob Iger steps down - techcrunch

Daily Crunch: Disney CEO Bob Iger steps down

Yesterday was a big day for executive moves, with Bob Iger stepping down as Disney CEO and Keith Block stepping down as Salesforce co-CEO. Meanwhile, Facebook has acquired another VR game studio and the owner of The Players’ Tribune has raised more funding. Here’s your Daily Crunch for February 26, 2020. 1. Disney CEO Bob […]
techcrunch - 5 hours ago
Andreessen makes Ribbon Health the first investment from its $750 million new healthcare fund - techcrunch

Andreessen makes Ribbon Health the first investment from its $750 million new healthcare fund

One of the biggest roadblocks to reducing costs in the American healthcare system is the system’s inherent lack of transparency. Most healthcare networks and hospital systems can’t even accurately account for the doctors that they manage and which insurance plans those doctors accept — let alone how good those doctors actually are at providing care, […]
techcrunch - 5 hours ago
YC just published a 70-page Series A guide so founders don’t tank their own prospects - techcrunch

YC just published a 70-page Series A guide so founders don’t tank their own prospects

This morning, Y Combinator is publishing a 70-page, Series A guide based on its work with 190 YC companies over the last couple of years. It’s part of an initiative launched in 2018 to help these alums understand how Series A rounds work — and how to make them work to their advantage. The program […]
techcrunch - 5 hours ago
Panasonic is ending its solar cell partnership with Tesla - techcrunch

Panasonic is ending its solar cell partnership with Tesla

Panasonic said it will stop producing solar cells and modules at Tesla’s factory in Buffalo, New York, ending a four-year joint venture with the electric automaker.  Nikkei Asian Review was the first to report that Panasonic planned to end its production agreement with Tesla. Panasonic has since issued an announcement to explain its decision. Tesla […]
techcrunch - 6 hours ago
Storytelling community Wattpad embraces adult content with new personalization tools - techcrunch

Storytelling community Wattpad embraces adult content with new personalization tools

Wattpad, the online storytelling community that’s home to some 80 million monthly users, has successfully tapped into the power of crowdsourcing to help uncover the next potential hits for media companies including Netflix, Hulu, NBCU, Sony Pictures Television, and others worldwide. It even launched its own YA book line to bring its online stories to […]
techcrunch - 6 hours ago
Detroit-based Rocket Fiber acquired by Everstream - techcrunch

Detroit-based Rocket Fiber acquired by Everstream

Rocket Fiber is the latest Detroit startup to be acquired. Today, the company is announcing it was acquired by Cleveland-based Everstream for an undisclosed amount. The founders tell TechCrunch the company was at a “record multiplier for the telecom space.” Under the deal, Everstream is acquiring all of Rocket Fiber’s infrastructure, including its service platforms […]
techcrunch - 6 hours ago
Fintech CAC and the Great Credit Card Craze - techcrunch

Fintech CAC and the Great Credit Card Craze

Let's chat about fintech customer acquisition costs and the rise of card-focused plays inside of the category.
techcrunch - 7 hours ago
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techcrunch
Tesla locks in stock surge with $2B offering at $767 per share

Tesla locks in stock surge with $2B offering at $767 per share

techcrunch - 1 week ago

Tesla has priced its secondary common stock offering at $767, a 4.6% discount from Thursday’s share price close, according to a securities filing Friday.

Tesla said in the filing it will sell 2.65 million shares at that discounted price to raise more than $2 billion. Lead underwriters Goldman Sachs and Morgan Stanley, have the option to buy an additional 397,500 shares in the offering.

Tesla shares closed at $804 on Thursday. The share price opened lowered Friday, jumped as high at $812.97 and has hovered around $802.

The automaker surprised Wall Street on Thursday when it announced plans to raise more than $2 billion through a common stock offering, despite signaling just two weeks ago that it would not seek to raise more cash.

CEO Elon Musk will purchase up to $10 million in shares in the offering, while Oracle co-founder and Tesla board member Larry Ellison will buy up to $1 million worth of Tesla shares, according to the securities filing.

Tesla said it will use the funds to strengthen its balance sheet and for general corporate purposes. In a separate filing Thursday that was posted prior to the stock offering notice, Tesla said capital expenditures could reach as high as $3.5 billion this year.

The stock offering conflicts with statements Musk and CFO Zach Kirkhorn made last month during Teslas fourth-quarter earnings call. An institutional investor asked that given the recent run in the share price, why not raise capital now and substantially accelerate the growth in production? At the time, Musk said the company was spending money sensibly and that there is no artificial hold back on expenditures.

At the time of Thursday’s announcement, Tesla shares had risen more than 35% since the January 29 earnings call, perhaps proving too tempting of an opportunity to ignore.

sauce: techcrunch
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