Business and Economy

Chehaoduo, Zūm, ATX seed Ventures and Quake Capital

Car seller Chehaoduo fuels up with $1.5B from SoftBank

Beijing-based Chehaoduo, an online platform for buying and selling used or new cars, just secured $1.5 billion in fresh financing from the ever-spendy SoftBank Vision Fund. The round brings the company’s total fundraising tally to some $3.4 billion.

Minority founders still overlooked

A study of venture-funded deals over the last five years finds that 77 percent of VC-backed founders were white, one percent were black, and nine percent were female. Crunchbase News talks to founders and investors about causes and potential steps to improve funding tallies for female and minority founders.

Zūm raises $40M to shuttle kids

Zūm, a service for shuttling children to school and activities, has raised a $40 million Series C round led by BMW i Ventures. With the funding, the Silicon Valley-based company plans to focus on school partnerships and move into other geographical areas outside of California.

Two Austin-based firms raising $100M funds

Two Austin-based venture capital firms, ATX Seed Ventures and Quake Capital, are in the process of each raising $100 million funds. The news follows a period of big gains for the Austin tech scene, with rising startup funding as well as large expansion plans in the region by Apple and Google.

Clouds loom over tech earnings horizon

Several tech companies reported earnings after the bell and immediately saw their valuations fall. Two that stood out were Box, which provided a lower-than-expected earnings forecast, and Square, which posted better-than-expected earnings, but apparently did not offer the superlative growth projections investors were seeking.

Crunchbase: What all great salespeople do when they walk in the door

Listening to prospects, understanding their problems, and offering them something of value is how salespeople succeed. We take this a step further and identify the secret to what distinguishes the top performers.

Horizon Robotics raises $600M for AI chips

China-based chip maker Horizon Robotics raised $600 million from a long list of investors for its latest funding round, bringing its valuation to $3 billion. South Korean semiconductor firm SK Hynix led the financing for Horizon, which specializes in making AI-powered chips for automobiles and cameras.

Super League Gaming goes public, falters

Super League Gaming, an esports company, launched an IPO on Nasdaq, raised $25 million, and saw shares dip in first-day trading. The lackluster performance follows financial disclosures showing steep losses and slim revenues.

Asana crosses $100M revenue threshold

Asana, a work management and productivity suite founded by high profile Facebook alum, announced that it crossed the $100 million annual recurring revenue threshold last year. The milestone follows eight quarters of accelerating growth.

Ionic Security secures $40M

Atlanta-based Ionic Security, a provider of technology for securing data in the cloud, has raised a $40 million Series E round led by JPMorgan Chase and joined by Google, Kleiner Perkins, and other new and existing backers. The round brings total financing for the eight-year-old company to more than $120 million.

Crunchbase: Everything you need to know before launching a startup

Today, we’re in a much less forgiving startup ecosystem, and a slow start can separate the winners and losers. Here’s what you need to know before making a major investment of time and money in a new company

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