Unicorn funding on path to record high in 2018
Unicorn funding on path to record high in 2018
Global unicorn funding this year is on track to surpass record levels set in 2017. An analysis of Crunchbase data shows investors put at least $73 billion into startups and growth-stage companies valued at $1 billion or more. An estimated 65 companies joined the unicorn list for the first time.
WeWork raises $1B, reveals wider losses
Speaking of unicorns gobbling up more capital, WeWork just secured another $1 billion from SoftBank. The co-working giant also revealed some updated financials showing sharp growth in revenues and an even bigger rise in losses.
Early stage SaaS deals pick up
After slowing down for a couple of years, venture investment in software-as-a-service companies worldwide is mostly back to 2015 levels. The first half of this year saw a particularly big jump in seed and early-stage SaaS investment.
Social media giants strike out
Social media giants are zero for three this earnings season. First, Facebook and Twitter struggled to impress investors with their second quarter reports. Now Snap has weighed in too with Q2 results showing falling cash flow and a decline in daily active users.
Chinese carmaker Nio files for $1.8B IPO
Tesla may be looking at going private, but China-based competitor Nio wants to go in the other direction. The four-year-old electric carmaker, whose backers include Baidu and Tencent, filed to raise $1.8 billion in a U.S. initial public offering.
Exabeam raises $50M for cybersecurity
Silicon Valley-based Exabeam, a developer of threat mitigation software, has raised $50 million in a Series D round led by Lightspeed Venture Partners. The financing brings total funding for the five-year-old company to $115 million.
GGV seeks $1.9B for VC funds
GGV Capital, a tech venture firm with operations in the U.S. and China, filed paperwork with securities regulators to raise $1.88 billion across several new funds. If successful in closing on the proposed amounts, this would be the largest pool of capital GGV has raised to date.
WeWork rivals scale up
A new generation of alternative workplace startups are hoping to give coworking giant WeWork a run for its money. They’re raising some big sums too, as evidenced by this week’s $120M round for China-based coworking provider MyDreamPlus.
