Author: Matthew Lynley

Atlassian is on one heck of a run

TECHCRUNCH When Atlassian went public at the end of 2015, it was a bit of an anomaly: a tech IPO whose numbers looked quite good with some profitability. It’s been almost two years since that IPO, and since then, the company’s valuation is at around $9 billion. The company popped 32% on its first day and hit a valuation of $5.8 billion. A lot of that is thanks to an insane run this year so far, where the stock is up more than 65%. And that run continued today after reporting a financial quarter that clearly mopped up, finishing well...

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Stitch Fix has filed for an IPO, and the numbers look good

TECHCRUNCH Stitch Fix has filed to go public, finally revealing the financial guts of the startup which will be a test of modern e-commerce businesses that are looking to hit the market — and the numbers look pretty great! Let’s start off really quick with profits: aside from the last two quarters, Stitch Fix posted a six-quarter streak of positive net income. We talk a lot about companies that are planning to go public that show pretty consistent (or even increasing) losses, but Stitch Fix looks like a company that has actually managed to build a healthy business. The company...

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Two Google alums just raised $60M to rethink documents

TECHCRUNCH When you open a Google doc or a spreadsheet, you get a blank spreadsheet and some documentation as to what you can do with it — and that’s pretty much where we’ve been for quite some time. But two MIT graduates, coming in from Microsoft and Google, have built up a team that for the past three years has quietly been trying to rethink how we approach documents. CEO Shishir Mehrotra spent his life in documents, and now he and co-founder Alex DeNeui have raised $60 million for a startup called Coda that’s trying to start the concept of an online document or spreadsheet from scratch. Greylock Partners, Khosla Ventures, and General Catalyst participated in the financing, with LinkedIn co-founder Reid Hoffman and General Catalyst’s Hemant Taneja joining the board of directors. “We like to describe it as a new document that blends flexibility of documents, the power of spreadsheets, and the utility of applications into a single new canvas,” Mehotra said. “It really started from an observation that we think that the world is full of all these different types of applications but most work gets done on documents and spreadsheets. Every team we looked at, you’d ask them what they use to run things they’d name off all these different applications. They have task trackers, CRM tools, inventory tools, but if you looked over their shoulders...

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MongoDB shares pop 25% in its public market debut

TECHCRUNCH MongoDB made its public debut with a bang, with jumping more than 25%, today after spending the past several days revising up its expectations throughout the IPO process — which seems to have landed on the right spot. The company provides open-source technology that can be attractive for early-stage startups that want to get off the ground and then seeks to convert those companies to paying customers with premium products. Since filing to go public, MongoDB has steadily raised the price at which it plans to sell shares, which signals an increasing appetite for the company’s stock. The final...

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MongoDB prices its IPO at $24 per share

TECHCRUNCH MongoDB has finished up what is essentially the final step in going public, pricing its IPO at $24 and raising $192 million in the process. The company will debut on the public markets tomorrow and will once again test the waters for companies that are looking to build full-fledged businesses on the back of open-sourced software. MongoDB provides open-sourced database software that can be pretty attractive to early-stage startups as they look to get off the ground, and then look to convert those companies (and larger ones) to paying customers by offering sophisticated tools. It’s a situation not...

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Blue Apron is laying off hundreds of employees

TECHCRUNCH As Blue Apron approaches its next earnings report in a couple weeks, the company said Wednesday that it is laying off 6% of its staff as part of “a company-wide realignment of personnel to support its strategic priorities.” Blue Apron was one of the big — and most anticipated — consumer IPOs of the year, but it’s also now one of the companies that represent the major challenges consumer IPOs have faced throughout the year. Since going public, Wall Street has cut Blue Apron’s stock price in half and it’s been able to barely retain unicorn status. The company is...

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eBay is having a pretty bad day

TECHCRUNCH eBay is not having a great afternoon after posting a pretty ho-hum third quarter that fit roughly in line with analyst estimates, but perhaps not seeing the kinds of leaps that Wall Street is looking for heading into the fourth quarter. The company said it added an additional 2 million  active buyers and now says it has 168 million global active buyers. But even with buyer numbers as large as that, it seems that eBay may still face an uphill battle trying to change the perception that it’s a company that was a powerhouse. Like other companies that are...

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Pinterest opens up search advertising in its Ads Manager

TECHCRUNCH Pinterest began rolling out targeted ads based on searches for its partners earlier this year, giving it another moment in time to catch potential customers as they try to sniff out new things they might buy — and now everyone else will get a piece of that. The company said it is adding search ads to its Ads manager today, letting businesses target customers searching for potential products, which basically gives them the opportunity to put an ad in front of them at a moment when they’ve signaled some intent or interest in an idea or product. Pinterest...

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