Author: Alex Wilhelm

Snap said to leverage discounts to drive growth

TECHCRUNCH After a painful first-quarter miss, Snap, the parent company of the popular social app Snapchat, is looking to avoid the same fate in the second. According to Digiday, Snap is working to drive new and increased business ahead of the end of its second quarter. To do so, the company is said to be cutting deals. In the words of the report, Snap is “looking to goose its ad business with offers of discounts and incentives to ad buyers.” At least some of the discounts have an end date, it appears. The same report, citing “multiple agency executives,” notes that...

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Equity podcast: The largest tech fund in history, and where are the IPOs?

TECHCRUNCH Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where each week we tell jokes about other people’s money. This week, Katie Roof, Matthew Lynley and I — Alex Wilhelm — were joined by Rick Kline, a partner at Goodwin. Kline is a lawyer focused on “M&A transactions [and] capital markets transactions,” according to his official bio, making him an ideal addition to the crew for this week’s natter. On the show we took a dive into IPOs, what constitutes a good pop, and who might be next. We also drilled into the massive new Softbank fund and what it might mean for tech...

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WTF is an ICO?

TECHCRUNCH It wasn’t very long ago that bitcoin felt nascent, laughable and small. In the ensuing years, bitcoin has matured, become far less risible and grown massively. Underscoring bitcoin’s maturation, the currency set new price records this week as the value of a single coin crossed the $2,000 threshold. Since bitcoin was announced in 2009, and certainly since I first wrote about it in 2013, the ecosystem of cryptocurrencies has exploded. Cryptocurrencies have expanded since the days bitcoin shared some of the media’s spotlight with litecoin and the silly-by-design dogecoin. It was a time when Mt. Gox ruled, cupcake shops could become media darlings by accepting the digital currency and pizza was a critical bitcoin-pricing metric. Now, there are dozens of cryptocurrencies worth eight figures, and the birth pace of new entrants is accelerating. Alex Wilhelm Contributor Alex Wilhelm is the editor-in-chief of Crunchbase News and co-host of Equity, TechCrunch’s venture capital-focused podcast. More posts by this contributor: In that particular milieu of freshly launched coins is a newly famous transaction type we need to understand called the “Initial Coin Offering” or ICO. An ICO is akin to an IPO, but in temporal reverse (sort of). Although confusing, it has recently acquired prominence as a favored way to launch a new cryptocurrency. But as is typical of nascent cryptoproducts, there are legal questions and unethical players in the mix. So let’s explore what an...

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Equity podcast: Instagram copies Snap again and Greycroft’s Ellie Wheeler on self-driving cars

TECHCRUNCH Hello and welcome back to another episode of Equity, TechCrunch’s weekly podcast focusing on all things venture and capital. This week we pulled off our very first live episode, taping the session during the last day of TechCrunch Disrupt NY 2017. For our inaugural public show, Ellie Wheeler of Greycroft joined our merry band of nerds: Katie Roof, Matthew Lynley, and Alex Wilhelm. In honor of the venue and time, we kept the format the exact same, focusing this time around on Apple’s double $200 million dosh disbursements, the Lyft-Waymo tie up and all its irony, Facebook’s recent Snap Xerox and Crowdstrike’s neat...

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IPOs, leaving money on the table and get off my lawn

TECHCRUNCH Alex Wilhelm Contributor Alex Wilhelm is the editor-in-chief of Crunchbase News and co-host of Equity, TechCrunch’s venture capital-focused podcast. More posts by this contributor: The current earnings cycle has repriced two bellwether internet companies: Snap and Twilio. The two firms are very different. Twilio is a respected back-end tool used by a cadre of familiar companies to reach consumers. Snap is a social company dabbling in mobile hardware. But the first quarter’s tallying up was rough on each. Twilio, part of 2016’s IPO crop, fell off a cliff after reporting better-than-expected results but slack guidance. By the next day,...

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Equity podcast: Where did Snap’s market cap go, and why does Josh Elman like grammar?

TECHCRUNCH Welcome back to another episode of Equity, TechCrunch’s weekly podcast focused on finding the humor in money. This week, our own Katie Roof, Matthew Lynley and Alex Wilhelm, along with Greylock’s Josh Elman huddled in the SoMa studio right after a certain earnings report. We recorded a day early this week, as a full 66 percent of the core cast had Thursday morning flights. Guess where. Regardless, we talked about the week’s big mistakes stories, including Snap’s dramatic share price decline following its first quarter earnings. The report, its first as a public company, missed on revenue, profit and active users. And we...

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Egnyte reaches GAAP profitability ahead of potential fundraise, IPO ramp

TECHCRUNCH If you rewind to late 2013 or early 2014, the market for enterprise startups, and perhaps especially for storage-centered startups, was quite different. Box raised $100 million in December of 2013 and $150 million the following July. Dropbox was on a similar tear, raising a $350 million Series C round in January of 2014 and snagging a $500 million debt facility that April. There was money dripping from the ceiling. And in the middle of all that, Egnyte raised a $29.5 million Series D in December of 2013. The company has not raised since. In the words of its amiable CEO, Vineet Jain, Egnyte does not “need to raise money” today, but it is considering it. In an interview, Jain detailed how that is the case and then dished on the current health of his company. Strap on your nerd helmets, friends. We’re going 8-k spelunking. Profitable cash flows Early in our interview, Jain detailed a number of new performance metrics that he partially repeated in an article this morning. Alex Wilhelm Contributor Alex Wilhelm is the editor-in-chief of Crunchbase News and co-host of Equity, TechCrunch’s venture capital-focused podcast. More posts by this contributor: First, Egnyte’s cash flow was breakeven in the second half of 2016. Presumably, that is how Egnyte is so far from its last raise and still has money to spend. (Old joke: What do you call non-dilutive fundraising? Revenue.) But...

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Equity podcast: Sequoia’s Roelof Botha on Betting against Elon Musk

TECHCRUNCH Welcome back to another episode of Equity, TechCrunch’s weekly podcast that works to put the ‘fun’ in ‘venture capital.’ This week from our SoMa studio, Katie Roof, Matthew Lynley and Alex Wilhelm were joined by Sequoia’s Roelof Botha. Sequoia, as you might know, was an early backer of companies like Google and Apple. Alex Wilhelm Contributor Alex Wilhelm is the editor-in-chief of Crunchbase News and co-host of Equity, TechCrunch’s venture capital-focused podcast. More posts by this contributor: Celebrating the continuing earnings fête thrown by various public tech companies, we dug into Tesla’s results and ensuing (modest) correction, Facebook’s big quarter...

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