Crunchbase Daily: Uber, Softbank, WeWork and Accel

Q4 closes out record year for global VC investment

Make no bones about it: 2018 was one heck of a year for the global venture capital market, and the fourth quarter closed it out on strong footing. Overall, we saw the most amount of money invested in the highest number of private tech company financings on record. Using Crunchbase data, we break down the numbers in more detail based on stage, geography, round size, and more.

A $90B Uber valuation still looks steep

As Uber’s IPO looms closer, new reports speculate that the ride-hailing giant is likely to fetch a public valuation around $90 billion. While lower than some estimates, however, that’s still an enormous sum, and one that seems pricey relative to Uber’s earnings track record.

SoftBank scraps $16B WeWork deal, invests $2B

SoftBank scrapped a plan floated late last year to potentially spend $16 billion on a controlling stake in WeWork. Instead, the megafund will buy $2 billion worth of shares, with about half coming from employees and existing investors. The move coincides with WeWork announcing plans to rebrand as The We Company.

Accel eyes more deals outside the Valley

Accel, one of the most prominent Silicon Valley venture capital firms, has been seeing more of its big exits in recent quarters come from companies not located in Northern California. Partners also say they plan to focus more heavily going forward on startups in smaller technology hubs

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