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IRL CEO Abraham Shafi. Image: Mike Sullivan
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Social App IRL in Talks to Raise Funds at $1 Billion Valuation

By Alex Heath · Apr 16, 2021 11:21am PDT · 3 comments
Group messaging app IRL is in talks to raise more than $50 million at a $1 billion valuation, 10 times the level of its last round, according to two people familiar with the matter. The funding for IRL, which has caught on quickly in recent months among teenagers in the U.S., follows a resurgence in competitive deals for social media startups... Group messaging app IRL is in talks to raise more than $50 million at a $1 billion valuation, 10...
Marc Andreessen and Ben Horowitz. Art by Mike Sullivan.
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‘These Guys Are Very Different’: Inside Andreessen Horowitz’s Rise

By Kate Clark and Amir Efrati · Apr 16, 2021 6:01am PDT · 9 comments
As recently as two years ago, the performance of Andreessen Horowitz’s investments in tech startups were average, despite the firm’s outsize public profile. But its partners had placed bigger bets on cryptocurrencies than almost anyone else, and they did so during moments when most investors had soured on the field. The firm’s... As recently as two years ago, the performance of Andreessen Horowitz’s investments in tech...
Anduril co-founder Palmer Luckey. Photo by Bloomberg.
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Anduril Raising New Round That Will Double Valuation to Over $4 Billion

By Berber Jin and Alex Heath · Apr 12, 2021 2:50pm PDT
Anduril Industries, a defense technology startup aiming to take on large U.S. contractors like Lockheed Martin Corp., is raising a new round of funding that will more than double the firm’s valuation to between $4 billion and $5 billion, two people familiar with the talks said. The Irvine, Calif.-based startup, valued at $1.9 billion last... Anduril Industries, a defense technology startup aiming to take on large U.S. contractors like...
A Didi Chuxing autonomous car on display in 2019. Photo by Bloomberg.
Didi Chuxing Aborted $1 Billion Acquisition of Aurora Amid Concerns of U.S. Officials
By Juro Osawa · Apr 12, 2021 6:01am PDT
A Didi Chuxing autonomous car on display in 2019. Photo by Bloomberg.
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Didi Chuxing Aborted $1 Billion Acquisition of Aurora Amid Concerns of U.S. Officials

By Juro Osawa · Apr 12, 2021 6:01am PDT
After defeating Uber in China’s brutal ride-hailing war in 2016, Didi Chuxing had an even more ambitious goal: Win the global race to develop robotaxis. A year later, Didi quietly struck a $1 billion deal to acquire Aurora Innovation, the high-profile self-driving-car firm led by Chris Urmson, a pioneer in the field who started... After defeating Uber in China’s brutal ride-hailing war in 2016, Didi Chuxing had an even...
Former Warner executive Jessie Henderson at a film premiere in 2019. Photo by AP.
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Apple Hires Former Warner Exec as Part of Film Push

By Jessica Toonkel · Apr 9, 2021 9:21am PDT · 1 comment
Apple has hired a former WarnerMedia executive to beef up its original film production, as part of a broader effort by the iPhone maker to ramp up the programming selection on its Apple TV+ streaming service, according to two people familiar with the situation. Jessie Henderson, who until last fall was executive vice president of feature films... Apple has hired a former WarnerMedia executive to beef up its original film production, as part...
A promotional image provided by Greenlight
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Kid Debit Card Startup Greenlight Valued at $2 Billion in Andreessen-Led Round

By Kate Clark · Apr 8, 2021 2:48pm PDT · 5 comments
Andreessen Horowitz is leading a new round of funding in Greenlight Financial Technology, a startup that offers debit cards meant for children, at a $2 billion valuation, according to two people familiar with the deal. The new funding comes as two rivals—Current and Step, which both offer specialized charge cards to... Andreessen Horowitz is leading a new round of funding in Greenlight Financial Technology, a...
A screenshot of a recent Snapchat augmented reality feature that lets users virtually try on Gucci sneakers. Photo provided by Snap
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Snap Acquires Screenshop App to Fuel Shopping Push

By Alex Heath · Apr 7, 2021 6:01am PDT · 1 comment
Snap is planning a bigger push into online shopping with a new feature in the Snapchat app that will recommend clothes users can buy based on photos they upload to the messaging app, according to two people with knowledge of the matter. And last fall, the company secretly acquired a startup once associated with Kim Kardashian West to help make... Snap is planning a bigger push into online shopping with a new feature in the Snapchat app that...
From left, Chase Coleman III, Scott Shleifer, and John Curtius. Photos by Bloomberg. Art by Mike Sullivan
Inside Tiger Global’s Deal Machine
By Kate Clark · Apr 6, 2021 6:00am PDT · 7 comments
From left, Chase Coleman III, Scott Shleifer, and John Curtius. Photos by Bloomberg. Art by Mike Sullivan
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Inside Tiger Global’s Deal Machine

By Kate Clark · Apr 6, 2021 6:00am PDT · 7 comments
In early 2018, Tiger Global Management hired retired U.S. Army colonel Greg Gadson to speak at the hedge fund’s offsite conference at Miraval, a luxury resort and spa in Arizona’s Sonoran Desert. Gadson, who lost both legs to an explosion in Baghdad, shared this advice on overcoming intense adversity: “Focus on what you can do... In early 2018, Tiger Global Management hired retired U.S. Army colonel Greg Gadson to speak at...
Clockwise from top-left: A parking lot at Citi Field, Photo by chrisswann26/ Flickr; A Kmart sign; photo by JeepersMedia/ Flickr; Amazon trailers parked outside of an Amazon delivery station in Newark, photo by Bloomberg; the former Orange County Register building in Santa Ana, photo by ksablan/ Flickr.
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Amazon’s Hunger for Delivery Hubs Hits New Heights

By Paris Martineau · Apr 5, 2021 6:01am PDT · 2 comments
What do stadium parking lots, defunct Kmarts, an old toxic mill site and the former printing plant of California’s Orange County Register have in common? All of them have recently joined Amazon’s vast distribution network as delivery hubs, smaller shipping facilities that function as local post offices for Amazon packages. During the... What do stadium parking lots, defunct Kmarts, an old toxic mill site and the former printing...
Tempo’s at-home fitness setup. Image: Tempo
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SoftBank to Invest More Than $100 Million in Fitness Startup Tempo

By Kate Clark and Cory Weinberg · Apr 2, 2021 4:58pm PDT
Tempo, a 2-year-old startup trying to challenge Tonal, Mirror and Peloton in the at-home fitness market, is finalizing a more than $100 million investment led by SoftBank, two people familiar with the matter said. The deal shows that even as people return to gyms as the pandemic ebbs, venture capitalists are betting consumers will continue to be... Tempo, a 2-year-old startup trying to challenge Tonal, Mirror and Peloton in the at-home fitness...
Argo AI CEO Bryan Salesky. Photo by Bloomberg.
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Argo AI Planning Public Listing Later This Year

By Berber Jin and Amir Efrati · Apr 2, 2021 11:08am PDT
Self-driving car startup Argo AI is considering going public later this year or early next year, Argo CEO Bryan Salesky told employees at an all-hands meeting, joining a growing list of self-driving firms contemplating a public listing. Argo would be going public at a challenging time for the self-driving car industry. Expectations that cars... Self-driving car startup Argo AI is considering going public later this year or early next year,...
A ‘Sold’ sign is displayed outside a home under construction at a Lennar development site. Photo by Bloomberg
Largest Homebuilder Emerges as Unlikely Startup Kingmaker
By Cory Weinberg · Apr 1, 2021 9:02am PDT · 1 comment
A ‘Sold’ sign is displayed outside a home under construction at a Lennar development site. Photo by Bloomberg
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Largest Homebuilder Emerges as Unlikely Startup Kingmaker

By Cory Weinberg · Apr 1, 2021 9:02am PDT · 1 comment
Back in 2016, executives at homebuilding giant Lennar Corp. sat down with the founders of Doma, which uses technology to speed the underwriting of title insurance. Worried that the startup didn’t have sufficient experience in either real estate or insurance, Lennar decided to pass on investing in the firm. “They said it was a... Back in 2016, executives at homebuilding giant Lennar Corp. sat down with the founders of Doma,...
An image from a distribution center of J&T rival ZTO Express. Photo by AP
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Upstart Courier Service Raised More Than $2 Billion to Fight Alibaba-Backed Rivals

By Yunan Zhang, Juro Osawa and Shai Oster · Apr 1, 2021 5:46am PDT
J&T Express, an upstart Southeast Asian logistics and courier service that has expanded aggressively in China, has raised more than $2 billion to fund its fight against rival parcel delivery companies backed by Alibaba, people familiar with the matter said. It’s another example of how control of shipping has emerged as a key link in... J&T Express, an upstart Southeast Asian logistics and courier service that has expanded...
Vice CEO Nancy Dubuc. Photo by Bloomberg
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Vice Media Is in Advanced Talks to Merge With SPAC Backed by 7GC

By Jessica Toonkel · Mar 31, 2021 8:15am PDT · 2 comments
Vice Media is in advanced talks to merge with 7GC & Co Holdings, a special purpose acquisition company led by tech investor Jack Leeney, according to people familiar with the situation, the latest step in the media firm’s hopes of going public via a SPAC merger. Vice had previously talked with other SPACs, including one backed by Group... Vice Media is in advanced talks to merge with 7GC & Co Holdings, a special purpose...
Photo of the most recent model of Snap's Spectacles by Snap. Illustration by Mike Sullivan
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Snap Plans Hardware Push With AR Spectacles, Drone

By Alex Heath · Mar 30, 2021 10:25am PDT · 2 comments
Snap is readying a new push into hardware with a more advanced version of its Spectacles smart glasses that feature displays capable of augmented reality effects, according to two people with direct knowledge of the device. It has also revived a years-long effort to build a drone. Unlike past models of Snap’s smart glasses though, this... Snap is readying a new push into hardware with a more advanced version of its Spectacles smart...
Photo of AWS CEO Andy Jassy by Bloomberg. Illustration by Mike Sullivan
Amazon Steps Up Silicon Ambitions With New Networking Chip
By Kevin McLaughlin and Amir Efrati · Mar 30, 2021 6:00am PDT · 9 comments
Photo of AWS CEO Andy Jassy by Bloomberg. Illustration by Mike Sullivan
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Amazon Steps Up Silicon Ambitions With New Networking Chip

By Kevin McLaughlin and Amir Efrati · Mar 30, 2021 6:00am PDT · 9 comments
Over the past several years, Amazon has designed its own silicon chips to speed up the performance of servers in its cloud data centers and the artificial intelligence services it sells to customers. Now, in a big step toward seizing control over a key component in its technologies, Amazon is developing a chip to power the hardware switches that... Over the past several years, Amazon has designed its own silicon chips to speed up the...
Ramp co-founders Karim Atiyeh (left) and Eric Glyman. Photo courtesy of Ramp.
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Stripe Invests in Brex Rival Ramp at $1.6 Billion Valuation

By Berber Jin and Kate Clark · Mar 29, 2021 12:28pm PDT · 1 comment
Ramp, a two-year-old startup that offers corporate cards and software tools for managing employee expenses, is close to finalizing two rounds of funding that will value the company at $1.6 billion, according to three people familiar with the deals. D1 Capital Partners led the first, $65 million round at a $1.1 billion post-money valuation with... Ramp, a two-year-old startup that offers corporate cards and software tools for managing employee...
An Amazon delivery driver. Photo by Bloomberg
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Amazon Drops Plan to Track Mask Wearing by Drivers With Cameras

By Mark Di Stefano · Mar 26, 2021 9:05am PDT
Amazon has scrapped a plan to use new high-tech surveillance cameras to verify whether its delivery drivers are wearing face masks on the job. The internet retail giant is in the process of installing the cameras—which will use artificial intelligence to identify driver drowsiness, distracted driving and other risky behavior—in its... Amazon has scrapped a plan to use new high-tech surveillance cameras to verify whether its...
The east gate of the Old City in Kashgar, Xinjiang autonomous region, China. Photo by Bloomberg.
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Apple Hosts Apps Run by China Paramilitary Group Accused of Uyghur Genocide

By Wayne Ma · Mar 26, 2021 6:57am PDT · 4 comments
Apple’s App Store has been distributing more than a dozen apps created by a Chinese organization sanctioned by the U.S. for human rights abuses against Muslim minorities in China’s Xinjiang region, The Information has learned. The apps, which provide news, offer information about government services and help small businesses manage... Apple’s App Store has been distributing more than a dozen apps created by a Chinese...
Xiaohongshu co-founder Miranda Qu. Photo by Bloomberg.
China’s $6 Billion Social E-Commerce App Hires CFO as It Eyes U.S. IPO
By Juro Osawa, Yunan Zhang and Shai Oster · Mar 25, 2021 8:56am PDT
Xiaohongshu co-founder Miranda Qu. Photo by Bloomberg.
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China’s $6 Billion Social E-Commerce App Hires CFO as It Eyes U.S. IPO

By Juro Osawa, Yunan Zhang and Shai Oster · Mar 25, 2021 8:56am PDT
The list of Chinese tech firms heading to the public markets is getting longer. The latest to lay the groundwork for an initial public offering is Xiaohongshu, an Instagram-like social e-commerce platform. The company recently hired a chief financial officer and is considering going public in the U.S. as early as this year, according to people... The list of Chinese tech firms heading to the public markets is getting longer. The latest to lay...