Pinterest sets IPO valuation of up to $10.6B as Chevron launches $90M energy fund

Pinterest sets IPO valuation of up to $10.6B

Pinterest submitted an amended filing that sets a projected price range of $15 to $17 per share for its upcoming IPO. At that price, the social media company will have an initial public valuation of up to $10.6 billion, somewhat below the $12.3 billion value secured in its last private financing.

Ed-tech startup Trilogy acquired for $750M

Education technology provider 2U announced that it will pay $750 million in cash and stock to acquire Trilogy Education, a startup that works with universities and employers to offer intensive, skills-based training programs for adult students. Founded in 2015, New York-based Trilogy, previously raised about $80 million in venture funding.

Scooter narrative is changing

It wasn’t long ago that scooter startups were the hottest things in tech, and quick rider growth helped investors make successively larger wagers on companies like Bird and Lime. But the brutal economics of the space indicate there may be some turbulence on the horizon.

Fashion market Poshmark eyes IPO

Poshmark doesn’t want to be fashionably late to the IPO parade. The online clothing and accessories marketplace is reportedly in discussions with investment bankers about a potential public offering as early as this fall. The Silicon Valley company has raised more than $150 million in venture funding to date.

Cora raises 7.5M for menstrual products

Cora, a San Francisco-based startup that makes tampons and pads from organic materials, has raised $7.5 million in a Series A round led by Harbinger Ventures. The company is one of several in the menstrual products space to recently raise funding.

Rippling raises $45M

Rippling, a startup that offers online tools for managing employee onboarding, raised $45 million this week. The round reportedly sets a valuation of over $250 million for the San Francisco-based company.

WeWork acquires Managed by Q

The ever-acquisitive WeWork (now The We Company) has added yet another funded startup to its arsenal: Managed by Q, a provider of office maintenance and other support services that had previously raised nearly $100 million in venture funding.

SoftBank reportedly eyes $15B fundraise

The SoftBank Vision Fund is nearly three-fourths of the way through $100 billion, and it will need more capital to keep investing at its current pace. The latest reported plan is to raise another $15 billion to add to the current fund.

Insuretech funding hits fresh records

Venture funding for insurance and insuretech companies hit all-time highs in 2018, according to Crunchbase data, with both global and U.S. totals reaching record levels. A large portion of capital is coming from corporate venture arms of the very same giant insurance companies startups are trying to disrupt.

Tonal raises $45M for connected fitness

Tonal, a startup that pairs fitness equipment with AI-enabled strength training programs, announced it has raised $45 million in a Series C round led by L Catterton’s growth fund. The financing roughly doubles total funding for the four-year-old, San Francisco-based company.

Jumia IPO filing reveals really steep losses

Leading African e-commerce operator Jumia filed an amended IPO filing a few days ago, inspiring a closer look at its financial performance to date. The filing reveals sharp sales growth, combined with losses that continue to exceed total revenues.

Okta launches $50M security fund

Identity security provider Okta has launched a $50 million fund to invest in security startups. The company plans to invest in startups that are already raising an early-stage round with an existing lead investor.

Crunchbase: Lessons learned selling on eBay as a teen

A founder documents the lessons he learned selling products on eBay as a teenager and how they helped him become a successful entrepreneur.

Lyft prices IPO at $72 a share, above expectations

Ride-hailing giant Lyft has priced its IPO at $72 per share, above original expectations, setting an initial valuation around $20 billion. Shares are slated to begin trading today, under the ticker symbol “LYFT.”

VCs still need blockbusters, and they’re getting some

The normal venture game of needing smash hits to provide material returns hasn’t changed much in recent years, except that unicorns are waiting longer to go public. A string of much-awaited IPOs, beginning with Lyft, however, is poised to finally deliver some big exits.

Case pushes more “Revolution” outside Silicon Valley

Crunchbase News catches up with Steve Case, founder of the Revolution trio of funds, which focuses on investing outside the major hubs of Silicon Valley, New York and Boston. Since launching the $150 million Rise of the Rest seed fund in late 2017, Case and company have invested in 116 companies and traveled to 38 cities by bus.

Chevron launches $90M energy fund

Chevron Technology Ventures has launched its seventh flagship fund, a $90 million investment vehicle that will target early- to mid-stage startups developing technologies with applications in the energy industry, with a particular focus on oil and gas.

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