Uber said Sunday that it agreed to move forward on a proposed investment from SoftBank Group. But SoftBank Investment Advisors sent a statement to reporters on Monday on behalf of CEO Rajeev Misra, emphasizing that it could still walk away. “After a long and arduous process of several months it looks like Uber and its shareholders have agreed to commence with a tender process and… Read More
from TechCrunch
With Stitch Fix’s IPO on the horizon, Wall Street — and the rest of the tech industry — is going to be keeping a close eye on this next big consumer IPO as both a signal for the future of e-commerce startups like Stitch Fix and the consumer IPO market as a whole heading into the back half of the year. So one of the big metrics Wall Street and others will be focusing on is… Read More
from TechCrunch
Looking for a roommate on Craigslist can be cumbersome. And it can be difficult to determine what the person will be like in real life. A startup called Roomi thinks it has a better solution for finding people to live with. Its app and website help you search for apartment listings with background-checked profiles from the tenants. It also pulls data from social media, like photos and… Read More
from TechCrunch
Razer has continued a winning streak of IPOs from Asian companies after its share price closed 41 percent up on its first day of trading on the Hong Kong Stock Exchange. The company, which makes accessories for PC gamers, laptops and is preparing to sell its first smartphone, raised $529 million from the sale of 1,063,600,000 shares. After deductions, Razer estimated its take-home to be… Read More
from TechCrunch
After months of talks, SoftBank Group is close to finalizing its investment in Uber. Multiple sources tell TechCrunch that the deal is expected to be signed later in the day on Sunday. SoftBank plans to lead a $1 billion investment directly in the company alongside Dragoneer Investment Group. The joint venture will also buy up to $9 billion of shares from eligible existing shareholders in a… Read More
from TechCrunch
Robin, which pitched a combined “Uber for lawn care” and robotic-lawnmower-as-a-service at Disrupt SF’s Startup Battlefield last year, is making some big changes. It quietly sold the first part to Porch earlier this year, and is now focused on expanding the robot service nationwide via a franchising plan. (And they’re going to be on Shark Tank.) Read More
from TechCrunch
Bandwidth, a company which helps businesses with voice and text communication, debuted on the Nasdaq on Friday, going up about 6% on its first day of trading. After pricing its IPO at the bottom of the expected range at $20 per share, the company closed Friday at $21.19, or up about 6%. The Raleigh, North Carolina-based company raised $80 million in its offering. Bandwidth, which… Read More
from TechCrunch
ByteDance is a name that is about to become very familiar to everyone in international tech circles. Really it should already be. It is valued at $20 billion and its flagship Toutiao news reader app is one of China’s fastest growing internet services with 120 million daily users. It is in the process of raising a $2 billion funding round and revenue for this year is reportedly forecast… Read More
from TechCrunch
PC gaming company Razer is set to raise upwards of $504 million (HK$3.9 billion) when it lists on the Hong Kong Stock Exchange on Monday. The company, which develops gaming-focused accessories for PCs, laptops and is preparing to sell its first smartphone, today priced its shares at HK$3.88. That comes in towards the high-end of its HK$2.93-HK$4.00 price range set last month. The listing… Read More
from TechCrunch
Musical.ly, the lip-syncing app popular with teens and young people, has been sold to Chinese social media giant Toutiao, according to an announcement made today. The deal is undisclosed by sources tell TechCrunch that Bytedance, the company behind China’s top news aggregator service Toutiao, will pay between $800 million and $1 billion to buy Musical.ly, which claims 60 million users… Read More
from TechCrunch