A look at China's “genius class” system, which picks ~100K gifted teens annually for elite science-focused schooling; its alumni span ByteDance, PDD, and more
A look at China's “genius class” system, which picks ~100K gifted teens annually for elite science-focused schooling; its alumni span ByteDance, PDD, and more
A network of ultra-competitive high-school talent streams has been turning out the leading lights of science and tech
Figma's stock closes up 250% at $115.50, after Figma sold shares at $33 in its IPO, hitting a ~$68B valuation; Adobe's $20B Figma acquisition fell apart in 2023
Figma's stock more than tripled in its New York Stock Exchange debut on Thursday, a day after the design software company sold shares at $33 in its IPO.
Sources detail Zuckerberg's sprint to remake Meta after meeting with Trump at Thanksgiving; he no longer wants to keep his views of how Meta should be run quiet
After visiting President-elect Donald J. Trump in November, Mr. Zuckerberg decided to relax Meta's speech policies.
Bookkeeping startup Bench, which raised $100M+ including from Shopify, closes down effective immediately; several employees say Bench also laid off staff
it's reputation-ending Leadership means accountability Rohit Mittal / @rohitdotmittal : Does anyone know how to go about buying Bench's assets? I'm sure investors have counsel to s...
Sources: Cohere, which has raised $445M and was seeking new funding at a $6B valuation in 2023, generated just ~$13M in annualized revenue at the end of 2023
a whopping 450x multiple. @HeeterMaria and I have the inside details here: https://www.theinformation.com/ ...
Flexport raised $260M from Shopify, one of its biggest shareholders; Shopify sold its money-losing logistics unit to Flexport in exchange for equity in May 2023
Report FreightWaves : Flexport raises $260M from Shopify Threads: Ran Reichman / @ranreichman : I don't understand this on two accounts: 1. Flexport CEO said they have a fortress ...
Seattle-based online retailer Zulily, which had a ~$7B market cap in 2014, winds down; in a December 11 lawsuit, Zulily accused Amazon of stifling its business
Weeks after laying off 800+ employees and suing Amazon … TechRadar : Former ecommerce giant Zulily shuts down PYMNTS.com : Zulily's Last Checkout: The Retail Road to Its Online Clo...
CRM platform HubSpot plans to acquire B2B data provider Clearbit, which has 400K+ users and 1,500+ business customers, and was valued at $250M in January 2019
over the years, I'm thrilled about this announcement and what it'll mean for HubSpot customers. Mollie Schane : This HUGE and exciting news. I already loved using Hubspot and this...
Atlassian plans to acquire video messaging platform Loom for ~$975M, split as ~$880M in cash and the rest in stock, set to close in Q1 2024; Loom has 25M+ users
Loom changed the game with tapping the PLG market. Now, with atlassian all enterprise doors could open as well. [embedded post] @manpageman.bsky.social : Pivot! To! Video! [emb...
Documents and sources undermine Flexport founder Ryan Petersen's claims that CEO Dave Clark overspent, overhired, and overpromised before being forced to resign
Peterson decides to return as CEO, unceremoniously ousts Clark, rescinds offers to a bunch of new hires then blames Clark for overhiring. … Jenn Schiffer / @jenn@pixel.kitchen : a ...
Sources: Jasper, which offers an AI writing tool for marketers, cut its $140M ARR projections for 2023 by 30%+ and its internal valuation by 20% from $1.5B
Jasper AI, an early darling of the generative artificial intelligence boom, has cut the internal value of its common shares 20% …
Filing: Instacart aims to raise up to $616M in its IPO at an up to $7.73B valuation and prices shares at $26 to $28; the listing is expected later this month
Instacart is aiming for a valuation of up to $7.73 billion, the grocery delivery company said on Monday, in its march toward …
Filing: Instacart aims to raise up to $616M in its IPO at an up to $7.73B valuation and prices shares at $26 to $28; the listing is expected later this month
Instacart is aiming for a valuation of up to $7.73 billion, the grocery delivery company said on Monday, in its march toward …
As the “Bank of Startups”, Silicon Valley Bank collapsed from its exposure to interest-rate risk, a lack of diversity among depositors, and VC herd mentality
an unsecured illiquid claim on a failed bank. Absent @jpmorgan @citi or... https://twitter.com/... Bob Elliott / @bobeunlimited : Fed/FDIC decisions on SVB determine whether they r...
As the “Bank of Startups”, Silicon Valley Bank collapsed from its exposure to interest-rate risk, a lack of diversity among depositors, and VC herd mentality
Programming note: Money Stuff was supposed to be off today, but: bank run! — SVB
Silicon Valley Bank launches a $2.25B share sale after losing ~$1.8B on its ~$21B of US Treasuries and mortgage-backed securities
Technology-focused lender suffered loss on $21bn portfolio of Treasuries and mortgage-backed securities — Silicon Valley Bank has launched a $2.25bn share sale …
The Securities Commission of The Bahamas says it didn't order FTX to reopen withdrawals for Bahamas-based customers, refuting FTX's statement
Nikhilesh De / CoinDesk :
FTX claims the company was hacked, telling users to delete FTX apps, not install app updates, and not to visit FTX.com, after $600M+ in crypto left its wallets
trustless, permissionless, uncensorable crypto—is the only path forward for the future. This week, we grieved. Next week, we build. @cz_binance : What a sh!t show... And it's going...
The Securities Commission of The Bahamas says it didn't order FTX to reopen withdrawals for Bahamas-based customers, refuting FTX's statement
FTX said last week it had allowed Bahamas-based customers to withdraw funds at its regulators' request. — Crypto exchange FTX was not required …