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Sequoia's Maguire on decision to back social crypto network BitClout
  + stars: | 2021-06-15 | by ( ) www.cnbc.com sentiment -0.99   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSequoia's Maguire on decision to back social crypto network BitCloutSocial crypto network Bitclout is now listed on Blockchain.com. Shaun Maguire, Sequoia Capital Partner, joins 'Tech Check' to discuss the decision to back the social network, what makes it different from other social networks and the future of crypto.
Persons: Sequoia's Maguire, Shaun Maguire Organizations: Sequoia Capital Partner
Investors Clamor for a Bigger Piece of Payments Company Stripe
  + stars: | 2021-06-14 | by ( Peter Rudegeair | ) www.wsj.com sentiment -0.97   time to read: +1 min
Stripe Inc. has yet to go public, but investors are still craving a piece of it. The company, which processes payments for e-commerce businesses, recently offered investors the chance to acquire sizable stakes in the company from existing shareholders, including current and former Stripe employees, according to people familiar with the transaction. But only about $1 billion of those bids were filled, one of the people said, suggesting that many current Stripe shareholders believe their stock has a long way to climb. Among the largest buyers were mutual-fund giant Capital Group Cos., venture-capital firm Sequoia Capital, e-commerce company Shopify Inc. and buyout firm Silver Lake, some of the people said. After a fundraising round in March, it became the most valuable private company in Silicon Valley, valued at $95 billion.
Organizations: Inc, Stripe, Cos, Sequoia Capital, Shopify Inc Locations: Silicon, Silicon Valley
Major investors reportedly up stakes in Stripe ahead of public listing
  + stars: | 2021-06-14 | by ( Pia Singh | ) www.cnbc.com + 0.70   time to read: +1 min
The Stripe logo on a smartphone with U.S. dollar banknotes in the background. Major investment firms are upping their stakes in digital payments firm Stripe ahead of an eventual public listing, the Wall Street Journal reported Monday. Capital Group, Sequoia Capital, Shopify and Silver Lake all bought shares from existing stakeholders, including current and former Stripe employees, the Journal reported, citing unnamed sources. Representatives for Stripe and for the investment firms did not immediately respond to request for comment. Read more about the recent stock sale in the Wall Street Journal.
Persons: San Organizations: Wall Street, Capital Group, Sequoia Capital, Silver Lake, Stripe, CNBC, Street Locations: Silver, San Francisco
App Analytics Company Amplitude Lands $150 Million
  + stars: | 2021-06-11 | by ( Sara Castellanos | ) www.wsj.com + 0.00   time to read: +3 min
Amplitude Inc., whose technology helps businesses understand how customers are using their applications, has raised $150 million in new investor funding. Amplitude’s software gives IT leaders, chief product officers and others insight about how customers are using their applications and what features may need to be tweaked. Newsletter Sign-up CIO Journal The Morning Download delivers daily insights and news on business technology from the CIO Journal team. Spenser Skates, Amplitude co-founder and CEO Photo: Amplitude Inc.Amplitude’s annual revenue last year was more than $100 million, up by 50% compared with 2019, Mr. Skates said. Sequoia Capital, which led the funding round, had also invested in the company in 2018, said Pat Grady, a partner at the venture firm.
Persons: Spenser, , Al Gillen, Gillen, Ryan Safarian, Mr, Safarian, Pat Grady, Grady, Sara Castellanos Organizations: Sequoia Capital, Massachusetts Institute of Technology, International Data Corp, Ford Motor Co, Walmart Inc Locations: San Francisco, bioengineering, sara.castellanos
FILE PHOTO: An Apt F retailer goes wholesale shopping on the Faire platform that connects small brands with small retailers in this picture taken in Austin, U.S., August 2019. Faire/Handout via REUTERS(Reuters) - Online wholesale marketplace Faire said on Thursday it raised $260 million in its latest funding round and is now valued at $7 billion, thanks to the fast growth in e-commerce following the pandemic. Faire helps small retailers connect with small brands, helping them to compete with retail giants like Amazon.com Inc or Walmart Inc, said Faire Chief Executive and co-founder Max Rhodes. Following its success in the U.S. market, Faire expanded into Europe three months ago and is seeing fast growth there, said Rhodes. “We’re still in the single-digit online penetration for the wholesale market,” said Sequoia partner Ravi Gupta.
Persons: Max Rhodes, , Rhodes, “ We’re, Ravi Gupta, Organizations: REUTERS, Reuters, Amazon.com Inc, Walmart Inc, Zealand, Sequoia Capital Locations: Austin , U.S, United States, U.S, Europe
Online wholesale marketplace Faire raises $260 mln, valued at $7 bln
  + stars: | 2021-06-10 | by ( Jane Lee | ) www.reuters.com + 1.00   time to read: +2 min
An Apt F retailer goes wholesale shopping on the Faire platform that connects small brands with small retailers in this picture taken in Austin, U.S., August 2019. Faire/Handout via REUTERSOnline wholesale marketplace Faire said on Thursday it raised $260 million in its latest funding round and is now valued at $7 billion, thanks to the fast growth in e-commerce following the pandemic. Faire helps small retailers connect with small brands, helping them to compete with retail giants like Amazon.com Inc (AMZN.O) or Walmart Inc (WMT.N), said Faire Chief Executive and co-founder Max Rhodes. Following its success in the U.S. market, Faire expanded into Europe three months ago and is seeing fast growth there, said Rhodes. “We're still in the single-digit online penetration for the wholesale market,” said Sequoia partner Ravi Gupta.
Persons: Max Rhodes, , Rhodes, “ We're, Ravi Gupta, , Eric Newcomer Organizations: REUTERS Online, Amazon.com Inc, Walmart Inc, Zealand, Sequoia Capital, Thomson Locations: Austin , U.S, United States, U.S, Europe
An Apt F retailer goes wholesale shopping on the Faire platform that connects small brands with small retailers in this picture taken in Austin, U.S., August 2019. Faire/Handout via REUTERSOnline wholesale marketplace Faire said on Thursday it raised $260 million in its latest funding round and is now valued at $7 billion, thanks to the fast growth in e-commerce following the pandemic. Faire helps small retailers connect with small brands, helping them to compete with retail giants like Amazon.com Inc (AMZN.O) or Walmart Inc (WMT.N), said Faire Chief Executive and co-founder Max Rhodes. Following its success in the U.S. market, Faire expanded into Europe three months ago and is seeing fast growth there, said Rhodes. “We're still in the single-digit online penetration for the wholesale market,” said Sequoia partner Ravi Gupta.
Persons: Max Rhodes, , Rhodes, “ We're, Ravi Gupta, Organizations: REUTERS Online, Amazon.com Inc, Walmart Inc, Zealand, Sequoia Capital, Thomson Locations: Austin , U.S, United States, U.S, Europe
Online wholesale marketplaces are becoming popular with investors. Online wholesale marketplaces are having a moment. But Faire and Abound are not alone in the online wholesale space. There's NuOrder, which has more than 3,000 brands and 500,000 retailers on its platform and has raised $36.9 million in venture capital. Sourcing products you can't find on AmazonThese wholesale marketplaces offer a host of benefits for both brands and retailers.
Persons: Max Rhodes, Daniele Perito, Marcelo Cortes, Jeffrey Kolovson, Rhodes, Niklas de la Motte, Bill Shope, Drew Sfugaras, Harley Miller, Miller, Alex Taussig, Shopify, Etsy, Lauren Cooks Levitan, Cooks Levitan, lockdowns, Robin Sherk, Sherk, Fabrice Grinda, Taussig, It's, you'd Organizations: Companies, Sequoia Capital, Sequoia, Left, RiverPark Ventures, Iron Ventures, Left Lane, Lightspeed Venture Partners, Amazon, Walmart, Tech, FJ Labs Locations: Left Lane
Chinese grocery app Dingdong Maicai files for U.S. IPO
  + stars: | 2021-06-08 | by ( Reuters Staff | ) www.reuters.com sentiment -0.96   time to read: 1 min
(Reuters) - Chinese grocery app Dingdong Maicai, backed by investors including Sequoia Capital and Tiger Global Management, filed for a U.S. initial public offering on Tuesday, as it seeks more funds to compete in a crowded sector. The COVID-19 pandemic has fueled online demand for fresh produce in China, with e-commerce companies including Dingdong, Alibaba Group and Pinduoduo competing aggressively to grab a major slice of that vast market. Established in 2017 in Shanghai, Dingdong last month raised $330 million, in a funding round led by SoftBank Vision Fund, bringing its total fundraising to over $1 billion. (reut.rs/3w7aLVc)Dingdong plans to list its shares on the New York Stock Exchange under the symbol "DDL", according to the company's filing. (bit.ly/3g2hdHq)Morgan Stanley, BofA Securities, Credit Suisse and Mission Capital are underwriters for the offering, Dingdong said.
Persons: Morgan Stanley, Dingdong Organizations: Reuters, Sequoia Capital, Tiger Global Management, U.S, Alibaba, SoftBank Vision, New York Stock Exchange, BofA Securities, Credit Suisse, Mission Capital, underwriters Locations: China, Shanghai, Dingdong
Dingdong plans to open books for the IPO in two weeks and a listing could take place as early as the end of June, said two of them. Established in 2017 in Shanghai, Dingdong operates mainly in first-tier cities such as Shanghai, Beijing, Shenzhen, and Hangzhou. The latest round valued the company at $5.1 billion, said one of the people. A year ago, Dingdong was valued at $2 billion in a $300 million funding round, Reuters reported at the time. Dingdong plans to list its shares on the New York Stock Exchange under the symbol “DDL”, according to the company’s filing.
Persons: Dingdong, Dingdong Maicai, Morgan Stanley Organizations: Reuters, Sequoia Capital, Tiger Global Management, Alibaba, Tencent Holdings, SoftBank Vision, New York Stock Exchange, BofA Securities, Credit Suisse, Mission Capital, underwriters Locations: China, Shanghai, Dingdong, Beijing, Shenzhen, Hangzhou
Turkey's Getir raises $555 mln as quick-delivery funding booms
  + stars: | 2021-06-04 | by ( Can Sezer | ) www.reuters.com + 0.00   time to read: +3 min
Turkish rapid delivery company Getir has tripled its valuation to over $7.5 billion since March after raising $555 million in its latest funding round, it said on Friday, part of an investment boom in the red-hot sector. The latest funding brings to the total Getir has raised from investors to almost $1 billion so far this year. read moreFlink, which focuses on Germany, has set up more than 50 local hubs in its first four months of operation. Gorillas was also reported by Sifted, an FT tech publication, to be seeking up to $1 billion from investors at a valuation of $6 billion. As recently as March the company, which launched last year, raised 244 million euros ($295 million) at a valuation of more than $1 billion.
Persons: Germany's Flink, Nazim Salur, Sifted, Abu, Prosus Organizations: Financial Times, Tiger Global, Sequoia Capital, Mubadala Investment Company, Thomson Locations: Paris, Berlin, London, Amsterdam, United States, Istanbul, Europe, Germany, Silver, DisruptAD, San Francisco
Gong raises $250 million in funds at valuation of over $7 billion
  + stars: | 2021-06-03 | by ( Sohini Podder | ) www.reuters.com + 1.00   time to read: +1 min
(Reuters) - Gong, a platform leveraging artificial intelligence for sales teams, raised $250 million in a funding round that tripled its valuation to $7.25 billion, the company said on Thursday. The Series E round, led by Franklin Templeton, brings Gong’s total funding to $584 million. Existing investors, including Sequoia Capital, Thrive Capital, Salesforce Ventures and Tiger Global, also participated in the round. The company’s patented revenue intelligence platform analyzes emails, phone calls or video calls to provide insights about markets, deals and employee skills. “This represents over 75% of the revenue intelligence market, based on company estimation,” Bendov added.
Persons: Franklin Templeton, , Amit Bendov, Gong, Bendov Organizations: Reuters, Sequoia Capital, Salesforce Ventures, Tiger Global, Tech, PayPal Holdings Inc, Microsoft, Slack Technologies
Over the past decade, more than 150 startups have forked over a chunk of their equity in exchange for Calacanis' investment and services. REUTERS/Brendan McDermidFor the startups that go through Calacanis' accelerator program, the experience can feel like a sports team in training. Calacanis requires that his startup founders file monthly updates about everything from hiring and product changes to revenue trends and liability issues. Today, the publisher turned entrepreneur is living his third, and seemingly most successful, life as a startup investor. The winners receive cash prizes to fund their startup and often an invitation to join Calacanis' Launch accelerator.
Persons: Ashley Welch, Welch, Jason Calacanis, Calacanis, I'm, It's, Jason, Brian Alvey, Slack, Vlad Tenev, Brendan McDermid, Sheri Atwood, Atwood, I've, pontificating, Keith Rabois, Taylor Monks, BasicBlock, Monks, Howard Stern, Stern, Alvey, Joanne Wilson, Rupert Murdoch, , Stephen Osman, Chamath Palihapitiya, David Sacks, Aaron Holm, Murdoch, He's, Chris Harvey, Harvey, he's, Blokable's Holm, Holm, Jeremy Redman, Trump, Chesa Boudin, Gavin Newsom, Osmaan Shah, Ashley, he'd Organizations: REUTERS, New York City Marathon, AOL, Fordham University, Silicon, Business, Los Angeles Times, Getty Images, Sequoia Capital, Calacanis, San Francisco, Telegraph, San, Launch, Twitter, YouTube, California Gov, New York Knicks Locations: Silicon Valley, Brooklyn, Robinhood, Silicon, New York, Valley, Calacanis, San, San Francisco, Florida, Texas
Over the past decade, more than 150 startups have forked over a chunk of their equity in exchange for Calacanis' investment and services. REUTERS/Brendan McDermidFor the startups that go through Calacanis' accelerator program, the experience can feel like a sports team in training. Calacanis requires that his startup founders file monthly updates about everything from hiring and product changes to revenue trends and liability issues. Today, the publisher turned entrepreneur is living his third, and seemingly most successful, life as a startup investor. The winners receive cash prizes to fund their startup and often an invitation to join Calacanis' Launch accelerator.
Persons: Ashley Welch, Welch, Jason Calacanis, Calacanis, I'm, It's, Jason, Brian Alvey, Slack, Vlad Tenev, Brendan McDermid, Sheri Atwood, Atwood, I've, pontificating, Keith Rabois, Taylor Monks, BasicBlock, Monks, Howard Stern, Stern, Alvey, Joanne Wilson, Rupert Murdoch, , Stephen Osman, Chamath Palihapitiya, David Sacks, Aaron Holm, Murdoch, He's, Chris Harvey, Harvey, he's, Blokable's Holm, Holm, Jeremy Redman, Trump, Chesa Boudin, Gavin Newsom, Osmaan Shah, Ashley, he'd Organizations: REUTERS, New York City Marathon, AOL, Fordham University, Silicon, Business, Los Angeles Times, Getty Images, Sequoia Capital, Calacanis, San Francisco, Telegraph, San, Launch, Twitter, YouTube, California Gov, New York Knicks Locations: Silicon Valley, Brooklyn, Robinhood, Silicon, New York, Valley, Calacanis, San, San Francisco, Florida, Texas
In a statement to CNN Business regarding the helicopter concept, a Citizen spokesperson said: "Our mission is safety. (The Citizen spokesperson said it plans to roll out this year "an incredibly powerful decentralized news and active safety product.") The Citizen spokesperson confirmed an enterprise safety product was being tested at several locations in New York City. The company spokesperson refuted this account saying its agents go through "a rigorous training program, which includes a four-week Public Safety Telecommunicator certification course." (The Citizen spokesperson said: "Since it's a new product, some users tapped the "Get Help" button out of curiosity.")
Persons: Andrew Frame, they'd, Andrew, wouldn't, they've, Jennifer Grygiel, Frame, Peter Thiel's, Sarah Lageson Organizations: CNN, Citizen, CNN Business, LAPD, Syracuse University, Apple, Wall, Wall Street, Fund, Sequoia Capital, Rutgers University's School of Criminal, Protect, Fast Company, Citizen Protect Locations: Los Angeles, New York, New York City
June 2 (Reuters) - Sales intelligence provider Outreach said on Wednesday it had raised $200 million in a funding round led by new investors Premji Invest and STEADFAST Capital Ventures, taking the startup’s valuation to $4.4 billion. Other new investors such as Tiger Global Management, Sequoia Capital Global Equities and Vista Public Strategies participated in the round, which was joined by existing investors including Salesforce Ventures and Lone Pine Capital. Outreach, whose customers include Microsoft Corp, Zoom Video Communications Inc and Adobe Inc, has raised $489 million in funds so far. The company’s artificial intelligence-driven platform provides information and insights to sales teams, thereby improving forecast capabilities and allowing them to close deals faster. The company said it would use the new funds to scale its sales and marketing businesses, invest in new markets and for expansion.
Persons: Sohini, Maju Samuel Organizations: Premji Invest, Capital Ventures, Tiger Global Management, Sequoia Capital Global, Vista, Salesforce Ventures, Lone Pine Capital . Outreach, Microsoft Corp, Communications, Adobe Inc, Outreach, Tech Locations: Seattle, London, Prague, San Francisco, Bengaluru
The smartphone app Citizen describes itself in simple terms: a safety network that sends alerts about nearby incidents including crime. But because Citizen is focused on public safety, the stakes behind each idea are higher. Citizen, a smartphone app, is designed to alert you when crimes, emergencies and other dangerous events occur in your area. Categorized in app stores as a "news" app, Citizen is in the top 20 percent for seven-day retention among Apple iOS users and the top 10 percent among Google Android users. Citizen staff members often pass along information directly from police scanners, a notoriously unverified source, he said.
Persons: Andrew Frame, Ben, Steve Jennings, Lauren Bridges, Citizen, I'm, Frame, Andrew, Los Angeles Police Department's, Sheriff's, isn't, Luis Samaniego, William Bratton, Bratton, Penn, hasn't, Lilly Irani, Irani Organizations: Citizen, NAACP, NBC, Citizen Citizen, Annenberg School, Communication, University of Pennsylvania, Sequoia Capital, Greycroft, Apple, Google, Covid, NASA, Facebook, Forbes, Vigilante, NBC News, Los Angeles Police, LAPD, Los, Spectrum News, University of California, Council Locations: Los Angeles, New York City, U.S, San Francisco, Covid, New York, Atlanta, Boston , New York, San Diego
Event streaming platform Confluent makes U.S. stock-listing plan public
  + stars: | 2021-06-01 | by ( Reuters Staff | ) www.reuters.com sentiment -0.99   time to read: +1 min
(Reuters) - Confluent Inc, a real-time event streaming platform, on Tuesday made public its plans for a stock market flotation, in what has been a busy year for new issues in the United States. Some of its high-profile customers include apparel chain Urban Outfitters Inc, tyre maker Michelin and Wall Street giant Morgan Stanley. Confluent intends to list on Nasdaq under the symbol “CFLT”. Investors in Confluent include venture capital firms Sequoia Capital and Index Ventures. It was valued at $4.5 billion in April 2020, according to PitchBook.
Persons: Morgan Stanley, , Goldman Sachs, JP Morgan Organizations: Reuters, Urban Outfitters Inc, Michelin, Wall, Nasdaq, Citigroup, BofA Securities, underwriters, Sequoia Capital, Index Ventures Locations: United States, View , California
Full Truck Alliance Co., a Chinese startup that provides an Uber-like service for the trucking industry, has filed for a billion-dollar-plus initial public offering in the U.S. On Thursday, the company posted a preliminary listing document on the website of the U.S. Securities and Exchange Commission. It didn’t disclose any fundraising details or timetable for the New York Stock Exchange listing, and used a placeholder $100 million sum to calculate its registration fee. The startup has attracted a bevy of global investors and was valued at $11.7 billion as of November. Besides SoftBank and Alphabet, it also counts Sequoia Capital China, Tencent Holdings Ltd. , Hillhouse Capital Group and GGV Capital among its backers, the filing showed.
Organizations: Co, U.S, SoftBank, Inc, Alliance, Consultancy, U.S . Securities, Exchange Commission, New York Stock Exchange, Sequoia Capital, Tencent Holdings Ltd, Hillhouse Capital, GGV Capital Locations: China, Sequoia Capital China
Buy-now, pay-later startup Klarna is close to finalizing a fresh capital injection from SoftBank. The funding is expected to include other major US investors following rapid growth in the buy-now, pay-later startup's American business. The size of the cash injection is not yet finalized but is expected to be less than the $1 billion Klarna raised in March. The deal could value the company somewhere between $40 billion and $50 billion, up from its current $31 billion valuation. Users of buy-now, pay-later services skew younger, and Klarna has faced scrutiny in the UK for advertising its services as a positive lifestyle choice.
Persons: SoftBank, Klarna, Sebastian Siemiatkowski, hadn't, Merian Chrysalis Organizations: Nike, Reuters, BlackRock, HMI, Northzone, Bonnier, Sequoia Capital, Commonwealth Bank of Australia, Ant Group Locations: Permira
(Reuters) - Digital health platform Noom said on Tuesday it had raised $540 million in a funding round led by buyout firm Silver Lake. But Bloomberg News reported on Monday that the latest funding round valued Noom at $3.7 billion. (bloom.bg/3fGIyNX)The round included new investors such as Singapore’s Temasek, life sciences-focused investment firm Novo Holdings and healthcare and fintech-focused venture capital firm Oak HC/FT. Existing investors including Sequoia Capital, RRE Ventures and Samsung Ventures, the investment arm of Samsung Group, also participated in the raise. Noom could go public within a year, in an initial public offering that could value the startup at around $10 billion, according to Bloomberg News.
Persons: Noom, Adam Karol, Stacy Brown, Philpot, Brown Organizations: Reuters, Bloomberg, Singapore’s Temasek, Novo Holdings, Oak HC, Sequoia Capital, RRE Ventures, Samsung Ventures, Samsung Group, Opportunity, Bloomberg News, WorkSmart Locations: Silver, New York, Seoul, Tokyo
Robinhood nears its biggest trade of all, an IPO, after wild year
  + stars: | 2021-05-25 | by ( Kate Rooney | ) www.cnbc.com + 0.00   time to read: +10 min
First in free online stock tradingThe Menlo Park, California-based company pioneered free stock trading. The duo met at Stanford and went on to start an algorithmic trading company, and later a financial software company that worked with major banks. The stock market, meanwhile, has recovered from its pandemic-lows and continues its decade-plus bull run. In order to offer free trading, Robinhood and the majority of the brokerage industry make money off of payment for order flow. It routes customer trades to high-frequency trading companies such as Virtu and Citadel Securities, who pay Robinhood to execute that trade.
Persons: Avishek Das, Robinhood, Warren Buffett, Charlie Munger, Andreessen Horowitz, Kleiner Perkins, Kathleen Smith, Charles Schwab, Smith, Vlad Tenev, Baiju Bhatt, , Michael Wong, Wong, hasn't, Berkshire Hathaway, Buffett, Munger, Piper Sandler, Rich Repetto, Gary Gensler, Dow, couldn't, Ja, Ro Khanna, Alexandria Ocasio, Ted Cruz, Elizabeth Warren Organizations: Getty, CNBC, Sequoia Capital, NEA, Google, GV, Facebook, Securities and Exchange Commission, Renaissance, Interactive, Social, Menlo, Tenev, Stanford, Morningstar, Robinhood, Berkshire, Citadel Securities, SEC, GameStop Locations: , California, Massachusetts, Robinhood, California, Silicon Valley, Rep, Alexandria, Cortez, Sens, Texas
Investors including SoftBank discussed backing NFT startup Sorare at a near-$4 billion valuation, sources say. Sorare allows users to collect and trade digital soccer playing cards. Sorare allows users to trade digital soccer cards. SorareA funding round into the business could be as big as €400 million ($488 million), three of the sources said. Big-name investors are backing NFT marketplacesDigital artist Beeple sold an NFT for $69 million in March.
Persons: SoftBank, Barcelona's Gerard Pique, Nicolas Julia, Beeple, Andreessen Horowitz, Masayoshi Son, Sorare, Alexis Ohanian, Antoine Griezmann Organizations: Sequoia Capital, Facebook, Benchmark Capital, Accel Locations: Paris, France, Barcelona
TikTok Parent’s Founder Zhang Yiming to Step Down as CEO
  + stars: | 2021-05-19 | by ( Liza Lin | ) www.wsj.com + 0.92   time to read: +1 min
SINGAPORE—ByteDance Ltd., the owner of popular short-video app TikTok, said Thursday founder and global chief executive officer Zhang Yiming would step down from his role to focus on long-term strategy, and appointed co-founder Liang Rubo to take his place. Mr. Zhang’s departure comes as Chinese tech companies have come under growing pressure from a regulatory crackdown on monopolistic practices, and after the Chinese short-video company was caught in the crosshairs of U.S.-China geopolitical tensions last year. His resignation follows an internal executive shake-up in April when Shou Zi Chew, ByteDance’s chief financial officer, was named CEO of TikTok. Mr. Liang is the head of human resources and management at ByteDance. A graduate of Nankai University, the same college that Mr. Zhang attended, he also founded a different startup with Mr. Zhang before they started ByteDance together in 2012.
Persons: Zhang Yiming, Liang Rubo, Zhang’s, Shou Zi Chew, Liang, Zhang, ByteDance, , Mr Organizations: SINGAPORE — ByteDance, Carlyle Group, Sequoia Capital, Nankai University Locations: SINGAPORE, China, ByteDance
$65 billion hedge fund Tiger Global is edging out venture capital firms to invest in startups. $65 billion hedge fund Tiger Global has been on a startup investing spree this year, averaging more than one venture-style investment per business day in 2021, Insider reported. We outlined the companies Tiger Global has funded in 2021 that have either filed or discussed plans to go public this year below. The digital lending platform closed $300 million in Series G funding led by Tiger Global and Coatue on January 13. Tiger Global also led its previous $160 million funding round in September 2020 alongside Temasek Holdings.
Persons: Andreessen Horowitz, Deepinder, dLocal, confidentially, Morgan Stanley, Jack Conte, Jerod Harris, SoftBank, Dreamsports Dreamsports, Falcon, Grofers, Cantor Fitzgerald's SPAC, Beerud Sheth, MergerMarket, Patreon Organizations: Tiger Global, Tiger, D1 Capital Partners, Accel, Financial Times, Labs, Securities and Exchange, Coatue, Title365, Cooper Group, Bloomberg, JPMorgan, Alkeon Capital, dLocal, General Atlantic, Service, New York Stock Exchange, Kora, Temasek Holdings, Kotak Investment Banking, Credit Suisse Group AG, BofA Securities, Citigroup Inc, Cygnus Equity, DST Global, Sequoia Capital, Economic Times, TCV, TPG, SoftBank's, Wellington Management, Lone Pine Capital Locations: India, OYO
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