Grab is in the process of raising $2.5 billion for it ride hailing service in Southeast Asia, but that hasn’t stopped the Uber rival from tapping banks for $700 million in debt facilities to develop its business. The Singapore-based company said it had pulled in the financing from “leading global and regional banks” to expand its car rental fleet in Singapore and Indonesia,… Read More
from TechCrunch
Welcome to Equity, TechCrunch’s podcast about venture capital and the tech business. On the latest episode, we were joined by Barry Eggers, co-founder and a general partner at Lightspeed Venture Partners. There was a lot of IPO news this week. MongoDB debuted and we saw filings on Thursday for both Stitch Fix and SendGrid. And, of course, there was the inevitable ridesharing news.… Read More
from TechCrunch
PayPal, the digital payments company, shared its growing financials after the bell on Thursday. Shares ticked up about 4% in initial after-hours trading.
The company beat Wall Street’s expectations for the third quarter, posting an adjusted 46 cents per share. Analysts had been predicting 43 cents.
Revenue was also better than predicted, with $3.24 billion, versus the $3.16 billion forecast. Read More
from TechCrunch
Stitch Fix has filed to go public, finally revealing the financial guts of the startup which will be a test of modern e-commerce businesses that are looking to hit the market — and the numbers look pretty great! Let’s start off really quick with profits: aside from the last two quarters, Stitch Fix posted a six-quarter streak of positive net income. We talk a lot about companies… Read More
from TechCrunch
New York-based MongoDB went public on the Nasdaq on Thursday, finishing the day at $32.07, up 34% above its IPO price of $24. This is also above the proposed range of $20 to $22, which had been increased from $18 to $20.
The IPO netted $192 million for the company and valued it at about $1.18 billion. By the end of the day’s trading, the market cap was about $1.6 billion, the same as… Read More
from TechCrunch
Intel Capital, the investment arm of the processor giant, is today announcing its latest tranche of investments, a total of nearly $60 million going in to 15 startups that are working on solving different problems in the bigger area of big data (with a full rundown below). The investments come on the back of a big year for the group: in 2017 so far, Intel says that it’s invested $566… Read More
from TechCrunch
Denver-based SendGrid has filed for an IPO. The company, which helps marketers send emails to customers, says in its S-1 that it’s processed more than “one trillion emails.” Revenue for last year was $79.9 million, compared with $58.5 million in 2015 and $42.3 million the year before. The business is unprofitable, losing $3.9 million in for 2016, compared to $5.9 million… Read More
from TechCrunch
There’s a huge funding round from one of the top local services companies in China. Meituan-Dianping, a company formed by a multi-billion dollar merger in 2015, said today that it has raised a $4 billion Seres C round from a group of investors led by existing backer Tencent. Others involved include Sequoia, GIC, Canada Pension Plan Investment Board, Trustbridge Partners, Coatue, IDG,… Read More
from TechCrunch
Banks face an increasingly crowded battlefield in the fight for millennial customers. Not only do they have to compete with services like Venmo, but many messaging apps are adding their own peer-to-peer payment services. Tel Aviv-based startup PayKey thinks it has the solution with a smartphone keyboard that lets bank customers access financial services without having to log onto a banking app. Read More
from TechCrunch
MongoDB made its public debut with a bang, with jumping more than 25%, today after spending the past several days revising up its expectations throughout the IPO process — which seems to have landed on the right spot. The company provides open-source technology that can be attractive for early-stage startups that want to get off the ground and then seeks to convert those companies to… Read More
from TechCrunch