The Trump administration is suing California to block its brand new net neutrality law. The state is one of several that adopted laws requiring Internet service providers to treat all traffic equally, after federal telecom regulators scrapped similar nationwide protections last year.
Elon Musk will step down as chairman of Tesla and pay a $20 million fine under a settlement reached with the U.S Securities and Exchange commission, which filed suit last week. He’ll remain CEO and will still keep a seat on the board.
Cybersecurity provider Tanium just pulled in another $200 million in a new financing led by Wellington Management. The investment, which values Tanium at $6.5 billion, comes just five months after the Emeryville, Calif.-based company closed on $175 million at a $5 billion valuation.
Silicon Valley-based Aeva, an autonomous vehicle startup launched by former Apple engineers, just raised $45 million for its LIDAR technology.
New York-based Petal, a startup that provides credit cards to people with minimal credit histories, raised $34 million in a Series B funding round led by Jefferies and Silicon Valley Bank.
A lot of technology companies went public on U.S. exchanges in the just-ended quarter. Most of them weren’t U.S.-based, but that didn’t seem to matter much. Both domestic and foreign unprofitable tech companies did pretty well, so long as they could show solid revenue growth.
Speaking of IPOs, we’re expecting another big week of public debuts. Tech offerings on tap for U.S. exchanges include Elastic, Upwork, and YayYo
Peter Thiel’s Mithril Capital Management is relocating from San Francisco to Austin. Local investors are cheering on the move, which is big news for the Texas capital, a growing hub for startups that has struggled to be taken very seriously in the Silicon Valley-driven world of venture capital.
Chicago-based freight tracking company project44 raised $45 million in a Series C round led by Sapphire Ventures. The financing brings total funding to more than $90 million.
Silicon Valley-based online freelance marketplace Upwork increased the proposed share price range for its upcoming public offering to $12 to $14. Its IPO filing shows a company with decently growing revenues and improving cash flow.