Sources: Sequoia has picked partner Andrew Reed to replace Matthew Miller on Klarna's board; Miller had led a failed effort to remove board chair Michael Moritz
The Information : X: @heetermaria and @kateclarktweets X: Maria Heeter / @heetermaria : NEWS: Sequoia partner Andrew Reed is set to join Klarna's board, replacing partner Matthew ...
Sources: the Sequoia-Klarna spat stemmed from Klarna co-founders Sebastian Siemiatkowski and Victor Jacobsson, dragging Michael Moritz and Sequoia into the fray
- Disputes within Klarna spilled over into high-profile VC drama — Sequoia backtracked on plans to boot Moritz from board X: @aishagani and @aishagani X: Aisha S Gani / @aishagani...
Sources: Anthropic projects $850M+ in annualized revenue by 2024's end, or $70M+/month, an increase of over 8x from its monthly revenue around September 2023
3 months ago, that estimate was $500MM. And for the ongoing raise, Menlo is using an SPV with a fee for other investors to join. https://www.theinformation.com/ ... Stephen Loynd /...
Source: a breakthrough spearheaded by OpenAI chief scientist Ilya Sutskever enabled a model that could solve basic math problems, stoking excitement and concern
One day before he was fired by OpenAI's board last week, Sam Altman alluded to a recent technical advance the company …
Source: an OpenAI employee share sale valuing the company at $86B is back on track after Sam Altman's reinstatement and is expected to close in December
Maria Heeter / The Information : Bluesky: @fack.bsky.social . X: @rm_infinite , @westcoastbill , @nearcyan , @barret_zoph , @chiefaioffice , @qmaqdk , @kateclarktweets , @ftraderf...
Flexport acquires shuttered digital freight startup Convoy's tech stack, doubling down on US trucking; a source says Convoy CEO Dan Lewis will join Flexport
Flexport has reached a deal to buy the technology of shuttered trucking startup Convoy, as Flexport doubles down on its U.S. trucking ambitions …
Trucking marketplace Convoy starts shutting down; sources: the startup had ~$320M in 2023 revenue by early October, on pace to fall short of the $630M in 2022
Trucking Startup Backed By Bezos And Gates—Shutting Down After Failing To Find Buyer, Report Says Taylor Soper / GeekWire : Convoy collapse: Read CEO's memo detailing sudden shutdo...
Trucking marketplace Convoy starts shutting down; sources: the startup had ~$320M in 2023 revenue by early October, on pace to fall short of the $630M in 2022
Trucking Startup Backed By Bezos And Gates—Shutting Down After Failing To Find Buyer, Report Says Taylor Soper / GeekWire : Convoy collapse: Read CEO's memo detailing sudden shutdo...
Source: a group of investors led by Apollo Global Management plans to make a $1B+ debt investment in US-based chipmaker Wolfspeed, which has a $6B market cap
Source: a group of investors led by Apollo Global Management plans to make a $1B+ debt investment in US-based chipmaker Wolfspeed, which has a $6B market cap
SVB draws support from 300+ VC firms, including General Catalyst, while 1,200+ founders and CEOs sign a Y Combinator petition asking the US Congress to act
More than 100 venture capital and investing firms have signed a statement supporting Silicon Valley Bank, part of mounting industry calls …
Neobank Chime lays off 12% of its 1,300-person workforce, or ~150, citing “current market dynamics”; Chime raised $750M at a $25B valuation in August 2021
Source: Israeli cybersecurity startup Cybereason, which is valued at $2.5B, hired JPMorgan to find a buyer, after abandoning its IPO plans for earlier in 2022
The Information :