Patreon raises big round at ~$450M valuation to get artists paid

 In an era where art is shared and streamed for free, Patreon offers new hope for turning content creation into a career. Illustrators, comedians, game makers, and musicians use Patreon to let fans pay a monthly subscription fee for special access to their work. In exchange, Patreon takes only a tiny 5% cut. With 50,000 creators and 1 million subscribers on board paying an average of $12 per… Read More

Eaze is moving into recreational marijuana delivery with $27 million in new funding

 The cannabis industry has lit up in the last year, including weed delivery startup Eaze, which just raised $27 million in Series B financing and claims a 300 percent year-over-year increase in gross sales. But the weed delivery startup has come under scrutiny recently for burning through at least $1 million in cash per month. In contrast, other software-based pot delivery startups like Meadow… Read More

Apttus scores $55M as it closes in on an IPO

 Apttus, the unicorn quote-to-cash vendor built on the Salesforce platform, announced a $55 million round, which is likely its final private investment on the way to an IPO. While CEO Kirk Krappe wouldn’t definitively confirm the company was going public, he did say that today’s round was about gaining the confidence of future investors. “We decided we needed a certain amount… Read More

23andMe confirms $250 million round led by Sequoia

 Genetics testing company 23andMe has formally announced that Sequoia Capital is leading an investment round in the company. This confirms the news we broke last week.  The press release says that the final amount was $250 million and that Sequoia’s Roelof Botha will be taking a board seat. Others participating in the round include new investors Euclidean Capital, Altimeter Capital and… Read More

Is it exit season yet?

 Startup funding and exiting activity has been slow over the past few months in the U.S. Fewer companies closed rounds, IPO volumes were light, and not a lot of big M&A deals got done. But that’s to be expected, right? After all, it was summer break. Now that Labor Day’s over and we’re back at our desks, we can expect deal volumes to pick up. That seasonal explanation for… Read More

Equifax stock tumbles 14% after credit score hack

 Credit score business Equifax revealed Thursday that 143 million people were compromised in a cyber attack. Social security numbers and other personally identifying information were accessed. And guess what, the stock market didn’t like it! The company lost about $2 billion in market cap Friday after tumbling nearly 14%.  Apparently, the company has known about the hack since July 29,… Read More

Volvo acquires car valet startup Luxe to boost its digital services business

 After a pivot and months of speculation about the future of car valet and concierge startup Luxe, the company has finally found a home. Today, automaker Volvo Cars announced that it is acquiring the startup’s platform, technology, key staff and other assets, which it will use to put some fuel into its own digital services strategy. The terms of the acquisition are not being disclosed, but… Read More

Budget hotel network pioneer OYO raises $250M led by SoftBank’s Vision Fund

 India-based OYO, a startup that pioneered and popularized the concept of budget hotel networks, has closed $250 million in new funding led by SoftBank’s Vision Fund. The startup was founded in 2013 by Thiel Fellow Ritesh Agarwal, now aged 24, and the concept centers around standardizing the quality of India’s wildly differentiated affordable hotels, and providing some structure… Read More