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| Uber sets sights on Postmates | |  | | (Courtesy of Postmates) | | | Just weeks after its failed bid for Grubhub, Uber reportedly is in talks to acquire Postmates for $2.6 billion, in a step toward further consolidation in food delivery.
It's not the first time the San Francisco-based company—a relatively small player with less than 10% of the US market—has received interest from the ridehailing giant. And being acquired by Uber isn't the only option on the table for Postmates: | | | | | | | | | | Fivetran gallops to unicorn status after $100M round | |  | | (metamorworks/Getty Images) | | | Data integration startup Fivetran has raised a $100 million Series C, valuing the company at $1.2 billion. That valuation figure is a substantial jump from last September, when the startup secured $44 million at a $254 million valuation, according to PitchBook data. The company has now raised some $163 million in total VC backing.
The new financing was co-led by General Catalyst and Andreessen Horowitz, with current backers Matrix Partners and CEAS Investments also participating. Fivetran will use the capital in part to support its global expansion.
Based in Oakland, Calif., Fivetran is a developer of software that allows companies to sync data from cloud applications, files, event logs and other locations into centralized data warehouses.
Fivetran co-founder and CEO George Fraser wrote in a blog post that despite economic uncertainty, the startup "has continued to grow rapidly as customers see the opportunity to reduce their total cost of ownership by adopting our product" instead of high-maintenance in-house pipelines. | | | | | | | |
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| 100-day plans for companies & investors in the COVID-19 era | | SPONSORED
The COVID-19 pandemic is an unparalleled time for both companies and investors. However, for determined leaders, market disruptions can also create opportunities for financial success.
In this guide, gain insight into current venture capital and private equity trends—as well as strategies and tactics private companies and their backers can use to determine their way forward in the current economic environment.
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| California consumer privacy act enters enforcement phase | | | The California Consumer Privacy Act of 2018 took effect in January, and starting today, the state's attorney general can fine companies up to $7,500 for each violation. The law applies to businesses with annual revenue of more than $25 million, and companies that collect the data of 50,000 or more consumers, households or devices. It also covers businesses that get at least 50% of their annual revenue from selling consumer information. | | | | | | | | | | Impact investing has emerged in recent years as one of the hottest trends in private equity. Is it really making a difference? [Institutional Investor]
After a clash between troops in the Himalayas that left 20 of its soldiers dead, India is retaliating against China by banning one of its most popular exports: TikTok. [The Wall Street Journal]
Getting laid off or furloughed once is bad enough. Now, as the coronavirus continues to surge in the US and many states reassess plans to reopen their economies, workers are facing the prospect of an uncomfortable whiplash. [The Washington Post] | | | | | |
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| | Since yesterday, the PitchBook Platform added: | | 10 VC valuations | 1278 People | 401 Companies | 30 Funds | | | | | | |
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| Discord valued at $3.5B with latest round | | | Discord, the developer of a voice, video and text communication platform for gamers and other users, has announced a new $100 million fundraise. The round reportedly includes backing from Index Ventures and values the company at $3.5 billion. Founded in 2015 and based in San Francisco, Discord raised a $150 million round at a valuation of more than $2 billion in 2018, according to PitchBook data. | | | | | | | | Super Coffee maker Kitu Life grabs $25M | | | Kitu Life has raised $25 million, valuing the company behind the drink brand Super Coffee at more than $200 million, according to Bloomberg. ZX Ventures, the innovation arm of AB InBev, reportedly participated in the round and will help distribute Super Coffee products in the US. Among the other reported investors were Skyview Capital, former NBA player Baron Davis and Green Bay Packers quarterback Aaron Rodgers' Rx3 Ventures. | | | | | | | | | Sundae, the provider of a real estate marketplace for residential properties, has collected a $16.55 million Series A led by QED Investors. Founders Fund, Susa Ventures and others also participated. Founded in 2018 and based in San Francisco, Sundae helps homeowners sell their homes as-is, avoiding home repairs, cleanings and showings. | | | | | | | | | | | | | | | | Upsolver has raised a $13 million Series A from lead investor Vertex Ventures, with participation from Wing Venture Capital and Jerusalem Venture Partners. Based in Sunnyvale, Calif., Upsolver provides a data lake platform that helps developers manage, integrate and structure streaming data for analysis. The startup has raised around $17 million in total VC funding to date. | | | | | | | | Elementary Robotics nabs $12.7M | | | | | | | | | Insurance tech startup collects $8M | | | | | | |
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| Google purchases maker of smart glasses | | | Google has acquired North, a Canadian developer of smart glasses and related technology, with The Globe & Mail reporting a price of about $180 million. The company, formerly known as Thalmic Labs, will abandon plans to release a second generation of its main product, called Focals 2.0. North raised a reported $120 million in venture funding in 2016 from investors including Intel Capital and the Amazon Alexa Fund. | | | | | |
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| Summit Partners pulls in $2.2B for two funds | | | Summit Partners has closed two new vehicles, raising €1.1 billion (about $1.2 billion) for its third European growth equity fund and $1 billion for its fifth venture capital fund. The former fund will pursue investments of up to €70 million, and the latter will back growth-stage companies in North America with investments of up to $60 million. | | | | | | | | Eduardo Saverin's B Capital brings in $820M | | | B Capital Group, the venture capital firm started by Facebook co-founder Eduardo Saverin, has closed its second fund on $820 million. The new fund, which will invest in growth-stage startups, brings the firm's total assets under management to $1.44 billion. B Capital's portfolio includes telehealth company Bright.md, payment provider Plastiq and e-scooter company Bird. | | | | | |
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"Median step-up multiples for late-stage valuations have continued to rise over the last five years, reaching 1.58x in Q1 2020. This has been fueled in part by the surplus of available capital along with a 'growth at all costs' mentality. This is likely to subside as investors become more prudent and focus their efforts inward toward existing portfolio companies."
Source: PitchBook's Q1 2020 US VC Valuations Report | | | | | |
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