Author: Katie Roof

Conductive Ventures launches $100 million enterprise fund

There’s a new venture fund in town from some familiar faces. Carey Lai, who previously worked at Intel Capital and IVP, is joining forces with Paul Yeh, formerly of Kleiner Perkins. They’re calling it Conductive Ventures and it’s launching with $100 million under management. They’ll be investing in “expansion stage” companies across enterprise software and hardware categories, meaning Series A, Series B and beyond. Check sizes will be between $2 million and $7 million dollars. They expect to invest in 10-15 companies for this first fund. Conductive will be looking for “early product market fit with customer success,” Lai...

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Redpoint Ventures hires Uber’s Annie Kadavy as general partner

Redpoint Ventures has hired Annie Kadavy as its first female general partner. She’ll be on the early stage investment team. Kadavy has a background in venture capital, having spent several years at CRV. Most recently, she ran strategic operations at Uber’s freight division. She also has an M.B.A. from Stanford University Graduate School of Business. In a conversation with TechCrunch, Kadavy said she “wanted to focus on consumer but have the ability to do a broader set of investing.” Kadavy also “wanted to join an early stage fund that had a growth fund attached to it, so you can learn...

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6 River Systems raises $25 million for warehouse robots

As the e-commerce industry continues to explode, one startup that’s benefitting is Boston-based 6 River Systems. The business, which builds robots that speed up production in warehouses, has raised $25 million Series B financing in a round led by Menlo Ventures, with participation from Norwest Venture Partners, Eclipse Ventures and iRobot. 6 River says it has gained early traction with its robot, “Chuck.” Jerome Dubois, founder and CEO said that he believes 6 River has built “the first and only collaborative robot with the associates in the aisles doing the work.” In other words, 6 River aims to help humans...

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JUMP Bikes weighing Uber acquisition, investment offers

JUMP Bikes, the on-demand biking service that integrates with Uber, has been weighing both acquisition and investment offers. A decision has not yet been reached, but right now possible options include a sale to Uber at a price that exceeds $100 million, or a venture investment round, multiple sources tell TechCrunch. One of the possible investor names that has been floated is Mike Moritz of Sequoia Capital, but we are told that JUMP has multiple options. We are also told that various parties have been upping their offers over the past week, as they fiercely compete to get ownership of JUMP.  “E-bikes” are expected to become more popular, where users are able to find and rent bikes quickly via apps. JUMP launched as Social Bicycles in 2008, but the startup recently rebranded as JUMP when it announced its $10 million Series A investment round a few months back. Menlo Ventures and Sinewave Ventures invested. Since then, JUMP has launched a partnership with Uber, available in select cities like San Francisco. Users are able to identify a nearby bike via the Uber app and are given a PIN to unlock it. It costs $2 for every 30 minutes. We’ve reached out to JUMP, Uber and Sequoia for...

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Spotify traded down 10% on first day, achieved $26.6 billion market cap

Spotify is done with its long-awaited “direct listing” experiment. The music streaming company went public without the IPO. After completing its first trade halfway through the day at $165.90, Spotify fell to $149.60. It was a down day on the stock market, but at a $26.6 billion market cap, it’s up from the private market trading that happened in the months leading up to the IPO. The top end of that range, $132, was used as a “reference point,” valuing the company at $23.5 billion. Since there was no IPO price, that demarcation is being used to say that Spotify...

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Spotify opens at $165.90, valuing company at almost $30 billion

Spotify opened on the New York Stock Exchange at $165.90, giving the company a market value of $29.5 billion. The first trade didn’t happen until 12:45pm Eastern. This is halfway through the trading day, and a record for the latest opening time for a public debut. Spotify isn’t selling its shares on the stock market, meaning the company isn’t raising any money today. Instead, the event known as a “direct listing,” is a collection of transactions from existing shareholders (like employees and investors) selling shares directly to stock market investors. It took a while for the market makers to sort this...

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What to expect when Spotify goes public Tuesday

Digital music giant Spotify is joining the stock market on Tuesday, making it the biggest consumer tech company to go public since Snap debuted early last year. But unlike Snap, Spotify isn’t doing an IPO. The “o” part of IPO stands for offering and Spotify isn’t raising any money. Instead, existing Spotify shareholders will be selling shares directly onto the stock market. This means that employees, venture capitalists or anyone else who managed to buy Spotify shares on the  “secondary markets” can make money right away. But Spotify doesn’t know yet how many will want to sell their shares....

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Utah education technology company Pluralsight files for IPO

In an unusual move, Pluralsight has announced that it filed confidentially for IPO. Companies typically stay quiet until they make the filings public, unless reporters break the news first. But it’s no surprise to those who have been following Utah’s tech scene that Pluralsight is planning to list on the stock market this year. The venture-backed “unicorn” has been a late stage company for several years now. Co-founder and CEO Aaron Skonnard built the foundations of the education technology business back in 2004. Like many startups outside of Silicon Valley, it bootstrapped its business and didn’t raise significant outside...

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