Week of March 13, 2016

Last week, today

  • 3/3 – Analytic venture firm, Correlation Ventures, raises $177M fund after raising $165M in 2012 (PEHub)
  • 3/3 – Joe Lonsdale’s new firm, Eight Partners, which will focus on investments “with an ethical bend,” has closed a $300M fund (WSJ)
  • 3/4 – Thomson Reuters is reportedly looking to sell its Intellectual Property and Sciences business unit, which could fetch $3B and is attracting bids from KKR and Advent (Bloomberg)
  • 3/6 – BuzzFeed investigates the issues with Uber’s customer service as it has moved from domestic customer support to an international one (BuzzFeed)
  • 3/6 – Daimler CEO tells Reuters that the consortium that purchasedHERE maps from Nokia is in discussions to expand (Reuters)
  • 3/6 – NYT profiles companies struggling to hire talent as they move to the cloud (NYT)
  • 3/7 –  DoorDash disputes having a down-round, despite most definitions indicating that (Fortune)
  • 3/7 – Activist investors are starting to dive deeper into the SaaS world with decreased valuation – notably a few activists have taken stakes inCornerstone OnDemand (The Information)
  • 3/7 – Apple is being ordered to pay $450M to end an antitrust suit, which stated that the company worked with publishers to inflate book prices (Bloomberg)
  • 3/7 – Certain parts of e-commerce have proven difficult of late, but clothing company, Everlane, is reportedly seeking to raise at a $250M valuation (Re/Code)
  • 3/7 – Alibaba subsidiary Ant Financial (the unit behind Alipay) is planning to raise up to $3.1B at a valuation of more than $50B (WSJ)
  • 3/7 – Facebook is pulling the plug on its own DSP due to bot-fraud and will continue to focus on native and video (The Information)
  • 3/7 – Microsoft has opened itself up even more. Its SQL Server will now run on Linux (NYT)
  • 3/7 – 4chan founder Chris Poole, who started the company as a 15 year old twelve years ago, has joined Google in some social capacity (Fortune)
  • 3/7 – Snapchat is rumored to be projecting revenue of $300-350M this year (Re/Code)
  • 3/8 – Google finally announced what it has been up to with SkyboxImaging after acquiring the company for $500M in 2014. It has been rebranded as Terra Bella and are working with a number of geospatial data sources (VentureBeat)
  • 3/8 – Lightspeed Venture Partners raised $1.2B across two funds (one venture of $715M and one growth of $500M) (TechCrunch)
  • 3/8 – Cisco is buying Synata to boost collaboration search and says it will send $150M to challenge Slack (BizJournal)
  • 3/8 – Spark Capital is seeking $370M for new fund (WSJ) and Mo Koyfman is leaving the firm (WSJ)
  • 3/9 – Fortune has an extensive profile on Palantir and its vision to continue to change the Big Data world (Fortune)
  • 3/9 – Online lender SoFi is launching its own hedge fund to invest in its own loans (Bloomberg)
  • 3/9 – Bounce Exchange (backed by Contour Ventures and Primary Venture Partners) is accusing competitor Yieldify (backed by Google Ventures and Softbank) of posing as potential customers and replicating their code (Business Insider)
  • 3/9 – According to IDC, the WiFi market is growing and HP is gaining share (after acquiring Aruba Networks with 16.9% of the market) andCisco is losing share (with 45% of the market) (Seeking Alpha)
  • 3/9 – Mucker Capital has closed its third $45M early-stage fund for investments in the LA ecosystem (TechCrunch)
  • 3/9 – Toshiba is in exclusive talks with Canon to purchase its medical equipment unit for $6.2B (WSJ)
  • 3/9 – The Information has uncovered two examples of companies (Credit Karma and Affirm) pulling back on plans for real estate expansion in SF (The Information)
  • 3/9 – Fortune does a quick check in on Google’s plan for the cloud (Fortune)
  • 3/10 – Optimizely* is the latest company to announce lay-offs, this one on the order of 10% of its 400 person employee base (Fortune)
  • 3/10 – Sonos is laying off people (GeekWire)
  • 3/10 – Yahoo has promoted former MS banker Catherine Friedman and former Broadcom CFO Eric Brandt to their board after Max Levchin and Charles Schwab resigned late last year (Reuters). While its bankers are in the process of reaching out to 40 potential suitors (WSJ)
  • 3/10 – Rhetoric is escalating quickly between Apple and the US Gov’twith Apple accusing the Gov’t of attempting to “smear” and “vilify” them, while the US Gov’t is saying Apple is using “false” and “corrosive” language (Re/Code)
  • 3/10 – The Honest Company is facing some real problems after independent labs are saying that their detergent contains exactly what they say it doesn’t contain, which is problematic ahead of a potential IPO (WSJ)
  • 3/10 – Apple is having a major event on March 21 with speculation on a new band off-shoot of the iWatch (Fortune)
  • 3/10 – Alibaba secures $3B loan to finance more investments and acquisitions (TechCrunch)
  • 3/10 – Opera Software joins Firefox as browsers that contain ad-blockers that are natively built in (Fortune)
  • 3/10 – WeWork didn’t get the memo about raising down rounds, and closes $430M led by Chinese investors at $16B (up from $10B last summer) (WSJ)
  • 3/10 – Salesforce and Microsoft continue to deepen ways of working together, most recently with SalesforceIQ-Outlook integration (TechCrunch)
  • 3/10 – Yext announces revenue of $88.8M for 2015, up 48% from 2015. Its last round was a Series F from Insight in June 2014 at $525 post (TechCrunch)
  • 3/10 – Bridgewater Associates, the world’s biggest hedge fund, has hired former Apple executive Jon Rubinstein as co-CEO (NYT) after the WSJ ran a report a few months ago about a schism at the top of the Bridgewater (WSJ)
  • 3/10 – SVB has released an economic outlook centered around the venture industry – spoiler alert.. it’s negative (SVB)
  • 3/11 – Instacart is slashing the pay to its couriers as the Company looks to continue costs (WSJ)
  • 3/11 – Google’s AlphaGo (written by researchers from DeepMind) beat Lee Sedol, assumed by many to be the world’s best player. The Economist does a deep dive on the implications for AI (The Economist)
  • 3/11 – Vista Equity is reportedly scheduled to close its flagship fund today (Dan Primack)
  • 3/11 – Marissa Mayer reveals in an interview with Charlie Rose that only wants three more years to turn around Yahoo (WSJ)
  • 3/11 – According to the Business Insider, Slack is raising $200M at $3.7-3.8B pre led by Thrive Capital (Business Insider)
  • 3/11 – GM buys self-driving car kit start up Cruise (which has raised $18M from Spark and Founder Collective, most recently at $90 post) for over $1B (Fortune)
  • 3/12 – Michael Gougen, a now former Managing Partner at Sequoia, has been named in an explosive suit that alleges he sexually mistreated a woman for years, signed a contract to pay her $40M for the “horrors she suffered at his hands” and then after paying $10M refused to pay the rest. Sequoia dismissed him when the news broke. Ugly stuff all the way around. Here is the TechCrunch article with Gougen’s lawyer’s response and here is the full document.
  • 3/12 – Microsoft is targeting Evernote users with software that makes it easy for them to switch to their platform, OneNote (TechCrunch)

 Earnings

  • 3/9 – Square beat its fourth quarter revenue expectations and received a 5% pop in trading (TechCrunch)
  • 3/9 – Box shares jumped 14% on blockbuster deals (driven by partnerships with IBM and Microsoft) including Campbell’s Soup, Genetech and Bain Capital (Fortune)

 Financings

  • 3/7 – Culture Amp, a four-year-old, San Francisco and Melbourne, Australia-based startup that specializes in staff surveying and analytics, has raised $10 million in Series B funding led by Index Ventures
  • 3/7 – Property Partner, a two-year-old, London-based company that combines residential real estate crowdfunding with a secondary exchange through which investors can trade their holdings, has raised £15.9 million ($22.6 million) in Series B funding led by earlier investor Octopus Ventures
  • 3/7 — Staff Finder, a four-year-old, Zurich, Switzerland-based on-demand marketplace for temporary staffing, has raised an undisclosed amount of funding led by One Peak Partners and Goldman Sachs Private Capital
  • 3/7 —  Zaloni, a nine-year-old, Durham, N.C.-based data lake startup, has raised $7.5 million in Series A funding led by Sierra Ventures
  • 3/8 — AlphaSense, an eight-year-old, San Francisco-based search engine for financial professionals, has raised $33 million in funding fromTribeca Venture Partners, Triangle Peak Partners, and Quantum Strategic Partners
  • 3/9 — Intersec, and 11-year-old, Paris-based data analytics company focused on telecom customers, has raised $10 million in funding co-led byCisco Systems and the French private equity firm Omnes Capital
  • 3/9 — OneSpace, a St. Louis-based virtual workforce platform, has raised $9 million in Series B funding led by Lewis & Clark Ventures.
  • 3/9 — CoverWallet, a New York-based online insurance manager, has raised $2 million in seed funding from Two Sigma Ventures, Highland Capital Partners and Founder Collective.
  • 3/10 — Avametric, a five-month-old, San Francisco-based fashion software company at work on a technology to help online shoppers see how garment will fit on 3-D digital images of themselves, has raised $10.5 million in funding led by Khosla Ventures
  • 3/10 — Icertis, a seven-year-old, Bellevue, Wa.-based company that makes enteprise contract management software, has raised $15 million Series B led by Ignition Partners
  • 3/10 — Julie Desk, a two-year-old, Paris-based startup whose virtual assistant software automates the email back-and-forth typically associated with scheduling meetings and appointments, has raised €600,000 in new funding from SIDE Capital
  • 3/10 — JustWorks, a 3.5-year-old, New York-based benefits and payroll company that competes with Zenefits, has raised $33 million in Series C funding, bringing the total amount the company has raised to $53 million. Redpoint Ventures led the round.
  • 3/10 — Nom.com, a months-old, San Francisco-based interactive video community and app for foodies that presents a mix of professional cooks alongside an open-ended platform that will let anyone direct, produce and host their own food show, has raised $4.7 million in funding from GV andKhosla (among others)
  • 3/10 — Penrose Studios, a year-old, San Francisco-based startup that’s developing its own in-VR creation tools in a bid to become the Pixar of VR and tell stories in immersive worlds, has raised $8.5 million in seed funding. Accelerate-IT Ventures led the round
  • 3/10 —  Resolver, a 16-year-old, Toronto-based maker of risk and incident management software, has raised C$4 million (about $3 million) in new funding from earlier backer Klass Capital
  • 3/11 —  Propel, a year-old, San Jose, Ca.-based maker of product lifecycle management software, has raised $4.2 million in Series A funding led by Cloud Apps Capital Partners

*Battery portfolio company. For a list of all Battery portfolio companies, please click here.