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Chime Offers Competitive Interest Rates as It Prepares for IPO

Chime Offers Competitive Interest Rates as It Prepares for IPO

Chime is ramping up its offerings ahead of its public debut by providing an attractive 3.75% APY for customers who set up direct deposit into their accounts. This rate significantly surpasses the national average of 0.61% APY. The digital bank, which has 7 million customers, aims to enhance customer retention with new features like a redesigned app and cashback offers. Chime, valued at $25 billion, has raised $2.65 billion from notable investors. Its latest enhancements reflect a broader trend in fintech, where companies are innovating to attract users.

Created at: March 31, 2025 12:00pm

CoreWeave's $1.5B IPO: A Milestone in AI and Crypto Mining

CoreWeave's $1.5B IPO: A Milestone in AI and Crypto Mining

CoreWeave successfully launched its IPO, raising $1.5 billion with a market cap of $14 billion, despite a modest start at $40 per share. This marks the largest AI-related IPO to date and the most significant U.S. tech IPO since 2021. Founded by former hedge fund managers, CoreWeave evolved from a crypto mining operation into a major player in AI infrastructure, boasting 250,000 GPUs and partnerships with industry leaders like OpenAI. However, the company faces challenges with $7.6 billion in debt, which has investors cautious about its future growth prospects.

Created at: March 29, 2025 4:30pm

Africa's Startup Landscape: A Mixed Bag of Growth and Challenges

Africa's Startup Landscape: A Mixed Bag of Growth and Challenges

In 2025, African startups saw funding surpass $2 billion, a return to pre-pandemic levels amidst a decline in mega-deals. This trend has prompted investors to focus on sustainable business models, leading to high-profile closures, including Copia and Gro Intelligence. While some startups pivoted to adapt, others like Moniepoint and TymeBank achieved unicorn status through significant investments. The landscape reflects both escalating challenges and resilient adaptations, highlighting the continent's potential and shaping future conversations in tech. The spotlight remains on these billion-dollar ventures and emerging 'soonicorns.'

Created at: March 29, 2025 2:30pm

Charlie Javice Found Guilty of Defrauding JPMorgan in $175M Acquisition

Charlie Javice Found Guilty of Defrauding JPMorgan in $175M Acquisition

Charlie Javice, founder of the student loan startup Frank, was found guilty of defrauding JPMorgan during its $175 million acquisition of her company. The jury concluded that she inflated Frank's customer count from 300,000 to 4 million, deceiving the bank. Evidence revealed that she hired a math professor to fabricate customer data. The trial lasted five weeks, with Javice's defense claiming buyer's remorse played a role in the suit. She faces a potential prison sentence of decades, with sentencing scheduled for August 2025.

Created at: March 29, 2025 12:30am

Mercury Doubles Valuation Amid Startups Mixed Bag of News

Mercury Doubles Valuation Amid Startups Mixed Bag of News

This week in the startup world saw notable developments, including Mercury's impressive $300 million funding that more than doubled its valuation to $3.5 billion. Meanwhile, Cerebras Systems faced another IPO delay as its national security review continues. The nuclear startup Terrestrial Energy went public via SPAC, raising $280 million. In contrast, Plenty, a vertical farming company, filed for bankruptcy after raising nearly $1 billion. Block laid off 931 employees, and rumors surfaced of Nvidia nearing an acquisition of Lepton AI. The funding landscape remains active with various startups securing significant investments.

Created at: March 28, 2025 5:30pm

Trump’s Tariffs Could Propel Tesla Amid Industry Struggles

Trump’s Tariffs Could Propel Tesla Amid Industry Struggles

President Trump has imposed a 25% tariff on imported vehicles and certain auto parts, a move that may boost Tesla's competitive edge. This tariff exempts Tesla as it produces cars in the U.S. However, it could adversely affect competitors like Ford and General Motors, who rely on foreign manufacturing. While Tesla imports parts that will be taxed, its local supply chain efforts may mitigate the impact. As other EV makers face potential price hikes, Tesla is well-positioned, especially with the rollout of a new lower-cost EV expected soon. The permanence of these tariffs remains uncertain.

Created at: March 27, 2025 7:00pm

Mendel Secures $35M Series B to Transform Corporate Spend Management in LatAm

Mendel Secures $35M Series B to Transform Corporate Spend Management in LatAm

Mendel, a Mexico City-based corporate spend management platform, has successfully raised $35 million in a Series B funding round led by Base10 Partners. This brings the startup's total funding to $110 million since its inception in early 2021. Mendel aims to automate financial operations for CFOs in Latin America, offering a comprehensive solution for expense management, payments, and corporate travel. With a significant increase in annual recurring revenue and plans for geographical expansion, Mendel is poised to capture the growing market for large enterprises in the region.

Created at: March 27, 2025 3:00pm

SpaceX's Controversial Investment Route for Chinese Stakeholders Raises National Security Concerns

SpaceX's Controversial Investment Route for Chinese Stakeholders Raises National Security Concerns

SpaceX has reportedly permitted Chinese investors to acquire stakes through offshore entities, raising alarms about potential national security risks. This practice emerged from testimony related to a corporate dispute, revealing that the company finds it acceptable for foreign investments to remain anonymous. Experts warn that such strategies may conceal foreign ownership and violate U.S. regulations. The Pentagon's concern over Musk's ties with China compounds the issue, as SpaceX is involved in sensitive defense contracts. No formal review by the Committee on Foreign Investment in the U.S. has been disclosed regarding these practices.

Created at: March 26, 2025 6:30pm

Bradley Tusk Ditches Traditional VC Model for Equity-for-Services Approach

Bradley Tusk Ditches Traditional VC Model for Equity-for-Services Approach

Bradley Tusk, co-founder of Tusk Venture Partners, announced a shift from traditional venture capital to an 'equity-for-services' model, claiming conventional VC is dead. He highlighted challenges like high interest rates and market volatility for startups. Tusk stated he hasn't returned capital to investors in four years, prompting his change. By accepting equity in exchange for expertise in navigating regulations, he aims to make more money while focusing on what he loves. Tusk will continue supporting existing portfolio companies until 2031.

Created at: March 26, 2025 6:00pm

Rivian Launches New Micromobility Venture 'Also' with $105M Funding

Rivian Launches New Micromobility Venture 'Also' with $105M Funding

Rivian has announced the spin-out of its new micromobility startup, Also, which has secured $105 million in funding from Eclipse Ventures. Founded by RJ Scaringe, Also aims to create affordable, Rivian-quality electric bikes and other small vehicles. The startup's team, comprised of experts from major tech companies, will leverage Rivian's technology and resources. Scaringe intends to address the high costs of existing e-bikes, aiming for production next year in the U.S. and Europe. The first vehicle designs are expected to be unveiled later this year.

Created at: March 26, 2025 1:00pm

Cerebras Systems' IPO Faces New Delays Amid National Security Review

Cerebras Systems' IPO Faces New Delays Amid National Security Review

Cerebras Systems, a leader in AI chipmaking, has postponed its IPO yet again due to ongoing national security reviews. Initially filed in September 2024, the company anticipated a smoother process with the incoming Trump administration. However, key positions in the White House remain unfilled, including the assistant Treasury secretary for investment security, which oversees such reviews. The IPO's scrutiny stems from a significant $335 million investment from Abu Dhabi's G42, which has connections to Huawei. TechCrunch is waiting for a response from Cerebras regarding these developments.

Created at: March 25, 2025 5:00pm

Vertical Farming Pioneer Plenty Files for Bankruptcy Amidst Industry Struggles

Vertical Farming Pioneer Plenty Files for Bankruptcy Amidst Industry Struggles

Plenty, the vertical farming company based in South San Francisco, has filed for bankruptcy after raising nearly $1 billion since its inception in 2014. The company announced it has secured $20.7 million in debtor-in-possession financing as part of a restructuring plan. Plenty will continue operations at its Virginia strawberry farm and Wyoming R&D center. This move follows a series of bankruptcies in the agtech sector, highlighting ongoing challenges. Notably, Plenty was last valued at $1.9 billion during a $400 million fundraise in January 2022.

Created at: March 24, 2025 10:30pm

US Lifts Sanctions on Tornado Cash Amid Ongoing North Korean Threats

US Lifts Sanctions on Tornado Cash Amid Ongoing North Korean Threats

The U.S. Treasury has lifted sanctions on Tornado Cash, a crypto mixer previously linked to North Korean money laundering of $7 billion. This decision follows a legal battle and allows U.S. entities to engage with Tornado Cash, which blends crypto to obscure its origins. Despite the delisting, the Treasury expressed continued concern over North Korean cyber threats. In 2022, the entity was accused of facilitating hacks to fund the country's nuclear program. Founders of Tornado Cash faced criminal charges in 2023 for money laundering and sanctions violations.

Created at: March 24, 2025 7:00pm

Buy Now, Pay Later for Your Burrito? DoorDash and Klarna Team Up

Buy Now, Pay Later for Your Burrito? DoorDash and Klarna Team Up

DoorDash and Klarna have announced a new partnership allowing customers to buy fast food and pay later in four interest-free installments. This service, available for orders over $35, offers more flexibility to diners. However, experts warn that consumers may face significant risks if they miss payments, leading to unexpected late fees. Consumer Reports' Chuck Bell cautions that failing to pay on time might result in a much pricier meal than anticipated. The initiative raises concerns about consumer debt and spending habits in the current economic climate.

Created at: March 23, 2025 10:00pm

Charlie Javice's Fraud Trial Highlights Major Missteps by JPMorgan

Charlie Javice's Fraud Trial Highlights Major Missteps by JPMorgan

The trial of Charlie Javice, accused of defrauding JPMorgan Chase in the sale of her startup Frank, showcases significant blunders from both parties. Testimony revealed that a former engineer refused to fabricate user data at Javice's request prior to the $175 million acquisition, indicating potential deception. Javice’s legal team argued JPMorgan failed to adequately verify Frank's customer claims. A note from JPMorgan’s deal lead suggested a casual approach to analysis, which was defended as a joke in court. The trial has become a cautionary tale of hubris and oversight in high-stakes deals.

Created at: March 22, 2025 9:00pm

Munich Re Acquires Next Insurance for $2.6B, Boosting Fintech Portfolio

Munich Re Acquires Next Insurance for $2.6B, Boosting Fintech Portfolio

Munich Re has signed a definitive agreement to acquire Next Insurance for $2.6 billion. Founded in 2016, the Palo Alto-based company specializes in insurance for small to medium-sized businesses and boasts over 600,000 customers. Despite facing valuation challenges in recent years, Next Insurance reported a revenue of $548 million in 2024. The acquisition will see Munich Re purchase the remaining 71% of shares it does not already own, with the deal expected to close in Q3 2025, pending regulatory approval.

Created at: March 20, 2025 7:00pm

CoreWeave Aims High with IPO Pricing Between $47 and $55

CoreWeave Aims High with IPO Pricing Between $47 and $55

CoreWeave has announced its initial public offering (IPO) pricing, aiming to sell shares between $47 and $55, potentially raising $2.2 billion to $2.6 billion. The company had initially targeted a raise of at least $3 billion. This price range is often seen as a strategic move to generate excitement for the IPO. CoreWeave's recent signing of a $12 billion agreement with OpenAI and the addition of Meg Whitman to its board may bolster investor confidence. The market will soon see if the company can surpass its fundraising goals.

Created at: March 20, 2025 5:30pm

Tesla Faces a Crisis as Analyst Urges Musk to Balance Roles

Tesla Faces a Crisis as Analyst Urges Musk to Balance Roles

Tesla's future hangs in the balance as Dan Ives, a prominent Wall Street analyst, warns Elon Musk of a 'moment of truth' for the EV company. Ives criticized Musk for devoting excessive time to the Department of Government Efficiency since Trump's return to office, claiming it has turned Tesla into a political symbol. With Tesla's stock plummeting to around $230, Ives called for Musk to clarify his roadmap for new models and the robotaxi service. He urged Musk and Tesla’s board to address the growing protests and brand damage before it becomes irreversible.

Created at: March 20, 2025 5:00pm

European Startups Attract Over $52B VC Investment in 2024 Signaling Resilient Growth Amid Challenges

European Startups Attract Over $52B VC Investment in 2024
Signaling Resilient Growth Amid Challenges

Venture capital investment in European startups surpassed $52 billion in 2024, indicating a resurgence following the pandemic peaks and the downturn of 2023. Despite political and regulatory challenges, the report from Orrick highlights a stabilizing market with increased adoption of standardized investment documents. Equity deals have gained traction, with a focus on scaling businesses rather than early exits. Notably, 21% of financings involved SaaS models, while AI and DeepTech sectors saw significant investment. However, growth-stage funding remains limited, signaling a need for further support in this area.

Created at: March 20, 2025 3:30pm

Cyberstarts Turns $6M Investment in Wiz into $1.42B Windfall

Cyberstarts Turns $6M Investment in Wiz into $1.42B Windfall

Cybersecurity startup Wiz's acquisition by Alphabet is set to yield enormous returns for its early backers, particularly Cyberstarts. The Israeli VC invested $6.4 million in Wiz's seed round, now valued at a staggering $1.3 billion, marking a 222x return. Additionally, Cyberstarts previously sold shares worth $120 million, bringing total returns to $1.42 billion. Sequoia Capital, another prominent investor, is expected to gain $3 billion from its stake. This acquisition underscores the impressive performance of early-stage investments in the tech sector.

Created at: March 20, 2025 12:30am

Elon Musk's X Sees Valuation Surge Back to $44 Billion

Elon Musk's X Sees Valuation Surge Back to $44 Billion

Elon Musk's social media platform X has reportedly regained a valuation of $44 billion, as reported by the Financial Times. This comes after a previous estimation by Fidelity Investments, which pegged its worth below $10 billion last September. A separate Bloomberg report revealed that X raised nearly $1 billion from investors, valuing the company at approximately $32 billion. Despite revenue drops since Musk's acquisition, X reported adjusted earnings of $1.2 billion for 2024, matching pre-takeover figures. The contrasting valuations highlight significant financial recovery for the platform.

Created at: March 19, 2025 6:00pm

Ribbit Capital Raises $500M Fund, Signaling Fintech Resurgence

Ribbit Capital Raises $500M Fund, Signaling Fintech Resurgence

Ribbit Capital is raising $500 million for its new flagship fund, Ribbit Capital Y, as reported by the SEC. This follows their previous $800 million fund raised in 2023. The Palo Alto-based venture firm is renowned for its fintech investments, having backed successful startups like Nubank and Robinhood. Recent activities include investments in emerging markets, particularly in India. Notably, the new fund size is smaller than the $1.15 billion raised in 2022, indicating a shift in market dynamics. The fundraising reflects a positive trend in the fintech sector.

Created at: March 19, 2025 5:30pm

Shopify Moves to Nasdaq: A Strategic Shift for the E-Commerce Giant

Shopify Moves to Nasdaq: A Strategic Shift for the E-Commerce Giant

Shopify has announced its transition from the New York Stock Exchange (NYSE) to the Nasdaq, effective March 31. The Canadian e-commerce platform will remove its Class A shares from the NYSE at the close of trading on March 28, while maintaining its listing on the Toronto Stock Exchange. Although no detailed reasons were provided, a company spokesperson expressed excitement about joining the Nasdaq community. Following a strong Q4 performance, Shopify's market cap has surged to $121 billion, reflecting a 55% increase year-on-year.

Created at: March 19, 2025 12:00pm

Vendease Overhauls Salary Structure Amid Layoffs and Pursues New Funding

Vendease Overhauls Salary Structure Amid Layoffs and Pursues New Funding

Vendease, the Y Combinator-backed Nigerian food procurement startup, has restructured its employee pay system following a significant workforce reduction of 44%. The company is transitioning to a performance-based pay model supported by an Equity Share Option Plan (ESOP). This move comes as Vendease aims for profitability after facing currency depreciation and rising costs. The new compensation structure includes a phased restoration of salaries, with additional focus on AI-driven efficiency and a buy now, pay later (BNPL) product to enhance revenue. Vendease is also exploring new investment opportunities to sustain operations.

Created at: March 18, 2025 10:00am

Venture Capitalist Aileen Lee Warns of Investor Exodus Impacting Unicorns

Venture Capitalist Aileen Lee Warns of Investor Exodus Impacting Unicorns

In a recent StrictlyVC Download podcast episode, VC Aileen Lee discussed the adverse effects of the current investment climate on unicorn companies. She highlighted how many startups are left unsupported due to the departure of seasoned investors and poor investment decisions made during the funding boom. Lee noted that limited partners hesitate to critique fund managers for fear of losing future investment opportunities. This has led to a troubling trend where companies are orphaned by their original backers, complicating their paths to recovery and exit strategies.

Created at: March 16, 2025 2:00am

Klarna Moves Closer to IPO with $1 Billion Target and Profitable Results

Klarna Moves Closer to IPO with $1 Billion Target and Profitable Results

Swedish fintech Klarna has officially filed its F-1 prospectus, marking a significant step toward its anticipated U.S. IPO, aiming to raise at least $1 billion at a valuation of $15 billion. The fintech company reported a revenue increase to $2.8 billion in 2024, along with a net profit of $21 million, a stark contrast to last year's loss. Klarna's valuation had previously plummeted but recently rebounded to $14.6 billion. The company is also innovating with its AI system, significantly reducing its workforce and costs. Investors are keenly watching this IPO as Klarna prepares to price its shares.

Created at: March 14, 2025 9:30pm

Trump Family Eyes Investment in Binance.US Amid Controversy

Trump Family Eyes Investment in Binance.US Amid Controversy

According to a report by the Wall Street Journal, the Trump family is in discussions to acquire a stake in Binance.US, despite the company's recent legal troubles. Binance's U.S. arm had previously pleaded guilty to anti-money laundering violations, leading to a $4.3 billion fine and the imprisonment of its founder, Changpeng Zhao. Zhao, who remains the main shareholder, has denied any discussions about the deal. The potential investment raises questions about the implications of a presidential pardon and its value in the crypto landscape. Zhao is currently ranked the 24th richest person globally.

Created at: March 14, 2025 10:30am

FBI and EPA Demand Citibank Freeze Nonprofit Climate Funds Amid Controversy

FBI and EPA Demand Citibank Freeze Nonprofit Climate Funds Amid Controversy

Citibank has been ordered by the FBI, EPA, and Treasury to freeze accounts of various nonprofits linked to the Greenhouse Gas Reduction Fund. This fund, part of the Inflation Reduction Act, allocated $27 billion for clean technology projects. The freeze affects organizations like Habitat for Humanity and the Colorado Clean Energy Fund. In court, a judge questioned the EPA's claims of fraud, demanding credible evidence. Some nonprofits have filed lawsuits against Citibank to release their funds. The situation raises significant concerns about the future of green financing.

Created at: March 14, 2025 9:02am

Moniepoint Secures Visa Investment to Enhance Contactless Payment Solutions

Moniepoint Secures Visa Investment to Enhance Contactless Payment Solutions

African fintech Moniepoint has received a strategic investment from Visa, aimed at enhancing financial inclusion and supporting SMEs across Africa. The fintech, which recently raised over $110 million, has now surpassed $120 million in its Series C funding. Moniepoint processes over 1 billion transactions monthly, with a total payment volume of $22 billion. The partnership will focus on launching contactless payment solutions, responding to Nigeria's push for cashless transactions. Visa aims to increase its presence in Nigeria’s SME market, leveraging Moniepoint's infrastructure for growth.

Created at: January 23, 2025 12:30pm

Divvy Homes' $1B Sale Leaves Some Shareholders Empty-Handed

Divvy Homes' $1B Sale Leaves Some Shareholders Empty-Handed

The recent $1 billion acquisition of rent-to-own startup Divvy Homes has sparked concerns among shareholders, as reports indicate that some may not receive any payout. Founded in 2016 and backed by notable investors, Divvy reached a peak valuation of $2.3 billion but is now selling for half that amount. CEO Adena Hefets informed stakeholders that after settling debts and costs, common shareholders are unlikely to see returns. The decision to sell was difficult, driven by challenging market conditions and rising interest rates, which forced the company to make significant layoffs.

Created at: January 23, 2025 2:30am

Divvy Homes Acquired by Brookfield for $1 Billion Amid Market Challenges

Divvy Homes Acquired by Brookfield for $1 Billion Amid Market Challenges

Divvy Homes, a rent-to-own startup, has been acquired by a Brookfield Properties division for approximately $1 billion. This acquisition comes after Divvy's valuation peaked at $2.3 billion in 2021. The deal is expected to finalize by mid-February. Divvy, founded in 2016, has faced difficulties in the real estate market, particularly due to rising mortgage interest rates, leading to multiple layoffs. The company has helped create around 2,000 homeowners through its innovative model. Notable investors include Tiger Global Management and Andreessen Horowitz.

Created at: January 22, 2025 10:00pm

AngelList and CoinList Team Up to Boost Crypto Startups' Fundraising

AngelList and CoinList Team Up to Boost Crypto Startups' Fundraising

In a significant move for the crypto industry, AngelList and CoinList have partnered to introduce specialized vehicles aimed at assisting crypto startups in raising and managing funds. This collaboration will enable users to fund Crypto Special Purpose Vehicles (SPVs) using stablecoins like USDC, eliminating traditional bank hurdles. The new Crypto Roll-Up Vehicles (RUVs) will streamline the investment process for founders by simplifying compliance management for multiple stakeholders. As crypto gains mainstream traction again, this initiative positions both companies at the forefront of the evolving landscape.

Created at: January 22, 2025 9:30pm

Hindustan Unilever Acquires Minimalist for $342 Million to Boost Premium Skincare

Hindustan Unilever Acquires Minimalist for $342 Million to Boost Premium Skincare

Hindustan Unilever has confirmed its acquisition of beauty startup Minimalist for approximately $342 million, enhancing its presence in India's premium skincare market. The deal involves an initial 90.5% stake, with the remaining 9.5% to be purchased in two years. Minimalist, founded in 2020, is known for its actives-led skincare products and has seen significant growth, reporting an annual revenue run rate exceeding 5 billion rupees. Unilever aims to leverage its extensive retail network to expand Minimalist’s offline distribution, following a series of strategic acquisitions in health and wellness.

Created at: January 22, 2025 10:30am

Global Fintech Funding Declines at Slower Pace in 2024

Global Fintech Funding Declines at Slower Pace in 2024

Fintech startups worldwide raised $33.7 billion in 2024, marking a 20% decline from the previous year, according to CB Insights. Deal volume also fell by 17%, totaling 3,580 deals. However, the decrease in funding represents the smallest annual drop in three years, with a rebound of $8.5 billion in Q4 2024, an 11% increase from Q3. Notably, median deal sizes surged by 33% to $4 million. Despite challenges, companies like LemFi and Hyperline secured significant funding, while eToro has filed for a confidential U.S. IPO.

Created at: January 21, 2025 6:30pm

Stripe Cuts 300 Jobs While Planning to Expand Workforce in 2025

Stripe Cuts 300 Jobs While Planning to Expand Workforce in 2025

Fintech leader Stripe is set to lay off 300 employees primarily in product, engineering, and operations, as revealed in a leaked memo. Despite these cuts, Chief People Officer Rob McIntosh stated that Stripe aims to increase its workforce by 17% to approximately 10,000 by year-end. This move follows a previous layoff of 1,120 staff in November 2022. Stripe is adjusting its team structure to ensure efficiency and effectiveness in executing its growth plans. The company, valued at $70 billion, continues to explore funding avenues while delaying its IPO.

Created at: January 21, 2025 6:00pm

Oui Capital Achieves Milestone with Moniepoint's Unicorn Exit

Oui Capital Achieves Milestone with Moniepoint's Unicorn Exit

Oui Capital, an early-stage African VC, successfully returned its $4 million debut fund following the sale of shares in the fintech unicorn Moniepoint. Initially investing $150,000, Oui Capital saw an impressive $8 million return after Moniepoint's valuation soared to $1 billion during its Series C funding. This achievement highlights the potential of early-stage investments in Africa's fintech sector. Oui Capital joins a select group of pan-African investors who have returned their first funds, illustrating the growing maturity and opportunities within the region's venture ecosystem.

Created at: January 20, 2025 8:00am

Struggles Mount for Proptech Startups Divvy Homes and EasyKnock

Struggles Mount for Proptech Startups Divvy Homes and EasyKnock

Divvy Homes and EasyKnock, once promising proptech startups, are facing significant challenges in the current high-interest-rate environment. Investment in U.S. real estate startups plummeted from $11.1 billion in 2021 to $3.7 billion last year. Divvy Homes is reportedly being acquired by Maymont Homes, while EasyKnock has abruptly shut down following multiple lawsuits. Both companies, which operated on similar rent-to-own models, struggled under the weight of rising interest rates and mounting debt. Analysts expect further difficulties for the real estate fintech sector in 2025.

Created at: January 18, 2025 4:30pm

Canoo Electric Vehicle Startup Files for Bankruptcy and Ceases Operations

Canoo Electric Vehicle Startup Files for Bankruptcy and Ceases Operations

Canoo, a seven-year-old electric vehicle startup, has filed for Chapter 7 bankruptcy and will cease operations immediately. The company is currently liquidating its assets in Delaware after unsuccessful funding discussions. Despite efforts to secure capital from foreign sources and the U.S. Department of Energy, Canoo struggled throughout 2024 to deliver its electric vans. The startup recently furloughed its employees and closed its Oklahoma factory amid significant financial challenges, reporting only $700,000 in the bank in mid-November. This story is still developing.

Created at: January 18, 2025 2:00am

Bitcoin Climbs Back to $100k as Trump’s Inauguration Approaches

Bitcoin Climbs Back to $100k as Trump’s Inauguration Approaches

Bitcoin is on the rise again, nearing $100,000 ahead of President-elect Donald J. Trump’s inauguration on January 20. Analysts noted a recovery after Bitcoin had previously dipped to around $90,000 at the start of 2025. Trump's support for the blockchain industry has renewed investor optimism, with altcoins like XRP and Litecoin also experiencing significant gains. Many anticipate that Trump's administration will implement favorable regulations for cryptocurrencies, boosting market confidence. As the inauguration nears, the crypto market is poised for a potential surge, reflecting investors' hopes for a pro-crypto future under Trump.

Created at: January 17, 2025 2:31pm

Insight Partners Secures $12.5B Fund, Reinforces VC Dominance in New York

Insight Partners Secures $12.5B Fund, Reinforces VC Dominance in New York

Insight Partners has successfully closed Fund XIII and its second Opportunity fund, amassing $12.5 billion in new capital. This latest round brings Insight's total assets under management to $90 billion. The funds will primarily be allocated towards buyout software investments and reinvesting in existing portfolio companies. Notably, Insight's recent performance includes over $8 billion in exits through acquisitions. The firm remains competitive against rising VCs like Thrive, co-leading significant deals, including Databricks' $10 billion funding. This strategic move solidifies Insight's position as a leader in the venture capital landscape.

Created at: January 16, 2025 10:00pm