Author: Katie Roof

Gwyneth Paltrow’s Goop raises another $50 million

Actress-turned-entrepreneur Gwyneth Paltrow is getting more capital to accelerate her startup’s growth. Goop, the lifestyle brand which she founded ten years ago, is announcing a $50 million Series C round from NEA, Lightspeed Venture Partners and Felix Capital. It brings the total outside investment to $82 million. A source close to the situation tells us that the latest round is being done at about a $250 million post-money valuation, although the company denies it. Pitchbook has separately reported Goop’s post-money valuation to be $250 million. Paltrow is more than just a celebrity attached to the company. She also runs...

Read More

DocuSign unveils IPO filing

DocuSign has unveiled its IPO filing, confirming our scoop from last week.  The company had previously filed confidentially and the timing of the filing revelation implies that DocuSign is hoping to go public in late April. Founded in 2003, the San Francisco-based e-signature company has been an anticipated IPO for a while. It’s raised over $500 million over the past 15 years and has been valued as high as $3 billion.  The filing gives us a first glimpse at the company’s financials. Last year saw $381.5 million in revenue, up from $250.5 million the year before. Losses for last year...

Read More

Netflix adds former White House security advisor Susan Rice to its board

Netflix has added a board member with some big political connections. Susan Rice, who worked in the Obama administration as National Security Advisor and Ambassador to the UN. “For decades, she has tackled difficult, complex global issues with intelligence, integrity and insight and we look forward to benefiting from her experience and wisdom,” said founder and CEO Reed Hastings in a statement. Rice directed the National Security Council staff between 2013 and 2017 and also provided the daily national security briefing to President Obama. Other members of Netflix’s board include tech execs like Microsoft president Brad Smith and Zillow...

Read More

Intercom raises $125 million to take on Salesforce

When it comes to sales software, Salesforce isn’t the only game in town. A number of startups have emerged to target the sales industry, with roughly $3 billion per year getting invested into marketing startups. Now one of the largest players is Intercom. The seven-year-old startup is now announcing a $125 million Series D round led by Kleiner Perkins, with participation from Google Ventures. Veteran investor Mary Meeker will also be joining the board. The valuation is $1.275 billion, meaning that the company is considered a “unicorn.” The round brings the total amount raised to $241 million. Existing investors include Bessemer Venture...

Read More

Microsoft surges 8% after Morgan Stanley says it will reach $1 trillion market cap

The Dow surged 669 points on Monday after trade tensions eased. Tech stocks like Amazon and Apple saw gains, but the biggest winner of all was Microsoft. The Seattle tech giant, which is a Dow 30 company, benefitted not only from the big stock market day, but also because a Morgan Stanley analyst had kind things to say about it. Keith Weiss wrote in a note to clients that he’s raising his 12-month price target to $130, an almost 50% increase. This would give the company a market cap of $1 trillion. He spoke about it further on CNBC. He’s...

Read More

Dropbox up another 7% on day two

Dropbox’s surge on the stock market has continued, with the company going up another 7% on its second day on the stock market. The company saw its shares close at $30.45, giving the company above a $13 billion market cap, fully diluted. When it priced its IPO, there was a question as to whether Dropbox would surpass the $10 billion valuation it achieved in its last private round. It eliminated those concerns overnight. The first few days have been a strong indicator of investor demand for the cloud storage company. To recap, Dropbox initially hoped to price its IPO between...

Read More

Smartsheet files for IPO

Smartsheet is the latest company to file to go public, now that the IPO window is open.  The Bellevue, Washington-based company offers enterprise software for communication and collaboration. It describes itself as the “leading cloud-based platform for work execution, enabling teams and organizations to plan, capture, manage, automate, and report on work at scale, resulting in more efficient processes and better business outcomes. ” Smartsheet says it has 3.6 million users and its products are utilized at 90% of the Fortune 100 companies around the world. It touts clients like Cisco and Starbucks. Smartsheet says Cisco uses it to keep...

Read More

Spotify thinks its revenue growth will slow, to reach $6.4 billion this year

Spotify released financial guidance ahead of its public debut planned for early April. It’s an unconventional move, but the music streaming service isn’t doing a traditional IPO. It’s not raising money and will instead be doing something called a “direct listing,” with insiders selling shares. This changes up the process and so Spotify decided to announce its business predictions ahead of time. Annual forecasts are something companies typically issue during quarterly earnings reports. Spotify says it is expecting between 198 million and 208 million monthly active users by the end of its fiscal 2018 year. This is an increase of...

Read More

Right Now in Politics and Business