Hello and Welcome Back to Equity
Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. This week, your humble Equity squad (Kate Clark, Alex Wilhelm) were stoked to take on as much as we could with what little time we had.
The Not-So-Speed-Round
Affirm Raises $300 Million at Nearly $3 Billion Valuation
Affirm raised $300 million at nearly $3 billion valuation. The round marks another win for Max Levchin’s company and is another point on the board for the PayPal mafia.
- This investment showcases the continued growth of Affirm, a company that has been making waves in the fintech space.
- The fact that it’s raising money at a nearly $3 billion valuation suggests that investors are confident in its future prospects.
Clearbanc Announces New Campaign
Clearbanc announced a new campaign to rapidly back 2,000 e-commerce businesses with $1 billion, called "The 20-Min Term Sheet."
- This initiative highlights the growing importance of e-commerce and the need for startups to have access to capital quickly.
- Clearbanc’s approach demonstrates its commitment to supporting entrepreneurs in this space.
Rippling Raises $45 Million
Rippling raised $45 million, making for both an interesting financing story and a redemption arc, packaged neatly alongside a few dozen million dollars. Parker Conrad is part of the Rippling team, meaning whatever the company does will court attention.
- This investment marks a significant milestone for Rippling, which has been gaining traction in the HRtech space.
- The fact that it’s raising money from top-tier investors suggests that the company is on the right track.
Femtech Sector Hits $1 Billion in Investment
The femtech sector is on pace to hit $1 billion in investment this year—finally—with organic tampon retailer Cora being the latest startup in the space to garner the attention of VCs.
- This growth highlights the increasing recognition of the importance of supporting women’s health and wellness.
- The fact that Cora has attracted investment from top VC firms demonstrates its potential for growth.
Corporate Venture Capital
We took a brief look at the world of corporate venture capital; a few notes:
Okta has a new $50 million fund,
Chevron has a $90 million fund,
Intel Capital has been busy, and more. Seems like every corporation wants to get into the game, or get in bigger.
- This trend reflects the increasing recognition of the importance of innovation and the role that corporate venture capital can play.
- The fact that so many corporations are investing in this space suggests a growing interest in supporting startups.
The Future of a16z
After all that, we turned to Forbes’ big Andreessen Horowitz cover story. There was a lot to unpack. Long story short, a16z has given up its status as a venture capital firm and registered all 150 of its employees as financial advisors. Curious what that means and why it matters? We were too, so we found answers.
- This development reflects the evolving nature of the VC industry and the need for firms to adapt to changing regulations.
- The fact that a16z is registering its employees as financial advisors suggests a desire to maintain its current business model.
Lyft’s Sinking Stock
Next, we turned back to the newly public Lyft. Since its IPO, Lyft’s stock price has taken quite the dive. Now, Lyft is back to its IPO price, which we think means it priced its IPO quite well. Still, where’d all the bullish Lyft investors go and why are so many people shorting the stock? We answer these questions and discuss what the falling numbers mean for other IPO-ready unicorns.
- This trend highlights the volatility of the public markets and the challenges faced by newly public companies.
- The fact that Lyft is back to its IPO price suggests that investors may have been too optimistic about its future prospects.
Jumia IPO
Next up was a look into the Jumia IPO, which Alex wrote about here. We need to pay more attention to startups outside the U.S., like Jumia, an African e-commerce platform. So listen to our plea. We want to hear from you! Email us at alex@Crunchbase.com or kate@crunchbase.com with your thoughts.
- This initiative highlights the growing importance of supporting startups in emerging markets.
- The fact that Jumia is going public suggests a desire to bring more attention and investment to this space.
Conclusion
In conclusion, we covered a range of topics this week, from Affirm’s $300 million raise to Lyft’s sinking stock. We hope you found our analysis informative and entertaining.
- This episode highlights the diverse range of stories in the VC industry and the need for ongoing analysis and commentary.
- The fact that we were able to cover so many different topics suggests a rich and dynamic landscape for startups and investors alike.
Thank you for listening to this week’s episode of Equity. If you have any questions or comments, please don’t hesitate to reach out. We’ll be back next week with more analysis and insights from the world of venture capital.
