SVB Capital’s investments, Adobe earnings, Via acquires Citymapper
The Information sources: SVB Capital, Silicon Valley Bank’s venture arm, manages $9.5B and invested $234M in Sequoia, $173M in a16z, $145M in Ribbit Capital, and $116M in Lightspeed, among others - Link
NYT sources: Regulators have yet to find a buyer for Silicon Valley Bank’s assets; new CEO Tim Mayopoulos said the bank has three options: continue operating, raise new money, or shut down entirely - Link
Adobe Q1 earnings: revenue: $4.66B (+9% y/y), operating income: $1.59B, net income: $1.25B; shares were up over 5% on the news - Link
TechCrunch sources: Via, a NY-based transportation app, has acquired Citymapper, a London-based urban mapping startup with 50M users; reportedly, investors are mostly not making their money back - Link
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Vinny and Sunny are BACK with Jason for another roundtable! First, they cover the aftermath of the bank shutdowns (2:54) before breaking down the impact on startups and the overall economy. (14:14) They also cover Zuckerberg announcing more cuts at Meta (1:05:49) and OpenAI launching GPT-4! (1:10:55) - Link
After a review by its national cybersecurity agency, the UK has banned TikTok from government officials’ work phones, following the US and the EU - Link
TikTok CEO Shou Zi Chew said that divesting the app from its China-based parent company ByteDance does not offer any more protection than the multi-billion dollar restructuring plan it previously proposed - Link
Parker, a startup that offers corporate credit cards for middle-market e-commerce businesses, emerged from stealth on Thursday, announcing $157M in equity and debt funding- Link
Fairmatic, a startup that uses AI to save users money on car insurance, raised $46M led by Battery Ventures; the company has onboarded hundreds of thousands of drivers - Link
E1700: Banking crisis impact, more Meta cuts, and GPT-4 with Sunny Madra and Vinny Lingham
E1699: Andy Rachleff on SVB, how to evaluate VCs, market pull indicators, Wealthfront, and more
E1698: How ocean farming can solve world hunger with Alora CEO Luke Young
E1697: Silicon Valley Bank collapse recap + Wist CEO on capturing XR memories
E1696: EMERGENCY POD: $SVIB implodes, contagion risk, advice for founders, and what’s next?
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