Where to begin … Netflix darling Marie Kondo is hitting up Sand Hill Road in search of $40 million to fund an ecommerce pulpit, Y Combinator is returning $150,000 to a startup constructing a $380,000 flying motorcycle( because why not) and Jibo, the social robot, is announcing it discontinues, speaking to owneds instantly of its imminent shutdown.
It was a frenzied week in unicorn land so, I’m just going to get right to the good stuff.
Where to begin! Not exclusively did the prolific accelerator announce long-time director Sam Altman “wouldve been” making an depart, but TechCrunch scooped the firm’s decision to move its headquarters to San Francisco. Y Combinator is going through a number of changes, sketched here. Interestingly, beginnings tell TechCrunch that YC has no succession schemes. We’re suspecting that’s because Altman had already principally transitioned away from the house, with CEO Michael Seibel presupposing his duties. The question is, is Altman planning to launch a startup? Hmmmmm.
As it gears up for the purposes of an IPO, Airbnb is showing its grown-up back. In a offer to intensify expansion, the home-sharing unicorn is buying HotelTonight in a agreement said to be valued at around $465 million. Accel, the storied venture capital house, was the business’s first-ever investors and is now its largest stakeholder. Oughta has become a nice return. We’re still wondering whether it’s a cash deal, a cash and furnish treat or an all-stock slew. Let me know if you’ve got the deets.
Lyft is preparing for its imminent Ipo by coming lean. The ride-hailing company is paring 50 staff members in its scooters and bicycles group, reports TechCrunch’s Ingrid Lunden. The pieces are mostly affecting those who joined the company when it acquired the electrical bike-sharing startup Motivate, a consider that closed about three months ago. I’ll point out that Lyft exerts 5,000 people; these layoffs are about one percent of their total workforce. And while we’re on the topic of mobility layoffs, Mobike, the onetime Chinese bike-share unicorn, is closing down all international procedures and putting its sole focus on China.
Several weeks after a sudden shutdown left the consumers and merchants in the lurch, meal-kit assistance Munchery has registered for insolvency. In the Assembly 11 filing, Munchery chief executive officer James Beriker quotes greater competition, over-funding, vigorous stretch the initiatives and Blue Apron’s neglected IPO as reasons for its downfall. Here’s the story, terminated with Munchery’s bankruptcy filing.
This week Precursor Ventures closed its sophomore pre-seed money on $32 million, NEA filed to raise its largest endeavour store more( $3.6 billion ), SoftBank raised$ 2 billion on a$ 5 billion target for a Latin America Fund, aMoon elevated $660 million for Israeli healthcare copes and Coral Capital brought in $45 million to attain early-stage investments in Japan.
Here’s your weekly remember to mail me gratuities, the proposals and more to kate.clark @techcrunch. com or @KateClarkTweets.
Sea is elevating up to $1.5 B
Grab strengthens $1.46 B speculation from SoftBank’s Vision Fund
Music services firm Kobalt is elevating approximately $100 M
Eargo makes $52 M for practically invisible, rechargeable hearing aids
Matterport raises $48 M to ramp up its 3D imaging platform
Netflix star and tidying expert Marie Kondo is looking to raise $40 M
Blueground raises $20 M for adaptable suite rentals
Andreessen Horowitz tapped David George as its newest general marriage and its first top dealmaker focused on late-stage deals. George joins from General Atlantic, where he’d backed buyer internet, enterprise software and fintech startups as school principals since 2012. The firm’s swelling unit is amongst the largest of any VC firm. Most partnerships consist of one to three crest dealmakers and a few collaborators or superintendents. A16z separates the molding with its ever-expanding team of GPs. We talked to George and a16z managing director Scott Kupor .
Stopping by SXSW? Meet TechCrunch’swriters at our annual Crunch By Crunch Fest party in Austin, Texas. RSVP here to join us on Sunday, March 10 th from 1pm to 4pm at the Swan Dive at 615 Red River St.@ E. 7th St ., really 3 bricks from the requirements of the convention hub. Hang out with TechCrunchers and fellow books, enjoy free drinkings and check out a live execution by electro-RnB musician Elderbrook. And check out the full line-up of TechCrunch panels here. I will be discussing the double standard in sex tech with Lora Haddock, the CEO of Lora DiCarlo,on Thursday, March 14 th at 2pm at the Fairmont Congressional A, 101 Red River.
This week on Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines, Crunchbase New’s editor-in-chief Alex Wilhelm and I discuss Y Combinator’s new HQ, Chime’s big funding round and SoftBank’s new Latin America fund. Listen here.
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