I m not proud of my lack of political involvement, I guess I ve always told myself that given the current state of politics, a single vote wouldn t make a difference.For most Americans, every dollar counts.Uber has managed the background check process themselves, typically via a third-party, and it only takes a couple of days for a driver to be approved.For startups aimed at disrupting existing incumbents in industries that are heavily regulated, the negative impact on fundraising will be even greater.Unregulated Transportation Options are Filling the Vacuum Left By Uber and Lyft.I m sure that someone could put together a ridesharing platform that works in a limited function, but I doubt it will offer enough trips to make it worth a driver s time, affordable rides or the many accountability and safety measures provided by Uber and Lyft.
Tesla will sell $2 billion of its shares, the company said Wednesday."Tesla is offering about $1.4 billion of shares with the remaining shares to be sold by Elon Musk to cover tax obligations associated with his concurrent exercise of more than 5.5 million stock options," the automaker said in a statement."On a net basis, Mr. Musk will increase his overall Tesla shareholdings through these transactions."Tesla said that it would use the capital it raises to "accelerate the ramp" of its Model 3 mass-market vehicle.After Tesla reported first-quarter earnings, Musk said that the company would aggressively ramp up its production and delivery schedule, with 500,000 vehicles to roll off assembly lines in 2018.That's two years ahead of original 2020 target.Tesla is also constructing a battery factory in Nevada, to provide the lithium-ion cells it will need to create battery packs for all those cars.The fundraising confirmed expectations across Wall Street, though the $1.4 billion Tesla is more than some analysts — including Goldman Sachs' Patrick Archambault — had anticipated.Morgan Stanley and Goldman are leading the underwriting, Tesla said.The shares shares fell about 4% in trading after the markets closed Wednesday, more than wiping out the day's gains.The Palo Alto-based electric-car maker raised $738 million in August 2015, when shares were valued at $242.Tesla has repeatedly said that it maintains a comfortable cash position at about $1 billion.But the company's shares have also recovered from a swoon earlier this year, and while they're still well below a trading peak of over $290 set in 2014, Musk and his team may have looked at the market and decided that this was the best time to fill the war chest.NOW WATCH: We went inside Elon Musk's futuristic Tesla factory filled with over 150 robotsLoading video...
SINGAPORE—A venture-capital firm launched last year by Facebook Inc. co-founder Eduardo Saverin and a partner has raised more than $143.6 million in the first close for its first fund, according to a regulatory filing Thursday.B Capital Group, which was founded in 2015 by the Brazilian-born Mr. Saverin and Raj Ganguly, a veteran of private-equity firm Bain Capital LLC, said in a document reviewed by The Wall Street Journal Thursday that it sees promising opportunities to invest in innovative tech firms around the world, not just in traditional hot spots like Silicon Valley.The fundraising comes as some venture capitalists are starting to curtail funding in Asia amid weakness in the global economy, worries over China s volatile stock market and talk of a bubble in the U.S.The World Bank in January said that India, which is home to some 1.3 billion people, will be the world s fastest-growing developing economy until at least 2018.B Capital Group also said in a document reviewed by The Wall Street Journal that it had already invested undisclosed amounts in its first two portfolio companies.Mr. Ganguly declined to comment on the size of the Ninja Van and Evidation investments, or on a possible time frame for investing the new funds.
Until people get their hands on it, the photonics chip remains a mystery.There are some subtle differences between mixed and augmented realities, with the latter tending to lay stuff onto surroundings while the former mixes the person into them.I watched miniature humans wrestle each other on a real tabletop, almost like a Star Wars holographic chess game.The focus on fun means the headset is closer to the Oculus VR than Microsoft s HoloLens, which has been demoed doing work-focused tasks.Facebook, which bought Oculus for $2 billion last year, has been promoting VR heavily and Google announced a new platform for the technology at its I/O 2016 keynote event, which was held this week.Ultimately, Magic Leap s secrecy means no one can accurately judge the technology without trying it, and the world is unlikely to see it anytime soon.
View photosMoreChinese 100 yuan banknotes are seen in a counting machine while a clerk counts them at a branch of a commercial bank in Beijing, China, March 30, 2016.REUTERS/Kim Kyung-Hoon/File PhotoBEIJING Reuters - China's government has approved a plan to clean up the country's online financial sector, according to people with direct knowledge of the matter, including rules to limit the activities of P2P lending firms, the source of recent fraud scandals.It outlines stricter rules for peer-to-peer P2P platforms, where lending quadrupled last year to 440 billion yuan $67 billion , according to Citigroup research, forbidding them from holding clients' capital in-house."Good platforms welcome government regulation for a simple reason: without good rules, bad players push out good players," said Wang, adding a lack of regulation forced all platforms into unfair competition.Last month, police arrested 21 executives at Zhongjin Capital Management - a high-profile Shanghai-based platform that promised retail investors double-digit returns for short-term projects - accusing them of "illegal fundraising."The government is also calling for the establishment of a centralized registration system for Internet financial products and a unified platform for Internet bank accounts.
Small investors were muscled out by bigger players for app-only bank Tandem's first crowdfunding round on Thursday, with 85% of the round filled by just five investors.Tandem smashed its £1 million fundraising target in just 15 minutes on Friday, raising £850,337 in just 10 seconds.Hundreds more investors entered what's known as "overfund", pledging money in case Tandem decided to take on more money.Tandem's pitch page reveals that just five investors contributed the vast majority of investment in the round — £845,014 — with four "anonymous" big ticket investments of £99,000 or more that look out of step with typical "crowd" investments.One user called "Manuel di Toma" wrote on Tandem's Seedrs page: This process is really disappointing; I had similar issues that prevented me to bid.I hope that Tandem will consider extending the offered equity to make everyone happy, not only institutional investors that can afford to invest hundreds of thousands of pounds but also smaller investors like me.Tandem has now done exactly that, agreeing to extend its crowdfunding campaign to meet all the demand from investors up to the European Union cap of €5 [email protected] @tandembank just checked my statement, I have 3x pending charges, but only 1 Investment, shame not converse pic.twitter.com/MyJtpFaCZF — Tom O'Neill @tomoneiller May 19, 2016 @tomoneiller @tandembank OMG I just checked my card 5X pending.The company has since offered to send its pitch deck to would-be investors who request it.Tandem, which has yet to launch any products, has to date raised £22 million from investors including eBay cofounder Pierre Omidyar.The startup is valued at £65 million and was the second app-only bank to get a banking licence last year.Tandem is one of a number of app-only banks, sometimes called neobanks, set to launch in the UK this year.Others include Mondo, Atom, and Starling.
Harry Stebbings is the founder and host of The Twenty Minute VC , an independent podcast focused on venture capital.To get an accurate view of how VCs spend their time, we surveyed 100 investors from The Twenty Minute VC to determine the most efficient time allocation.With the thesis confirmed Kumar then moves onto assess the founder and the team, asking a further two questions:1.Existing Portfolio Companies 33% This category can be broken down into 3 buckets.Kumar states that most VCs fall victim to the idiom, the squeeky wheel needs the most grease .Fund 13% Included in this category is fundraising, hiring, LP relationship building etc.
For starters, though it invests in both Southern and Northern California, it considers itself a global investor and has already made bets in India in online payments company BillDesk and Germany Dojo Madness, which makes a digital coaching app for gamers .And March Capital, which is primarily focused on business-to-business enterprises, has ties to three other enterprises that help with its deal flow.We re seeing more entrepreneurs move down here.TC: Except for successful serial entrepreneurs, valuations seem to softening up here in San Francisco a little bit.Or else, VCs say they at least have more time to produce a term sheet.Photo courtesy of March Capital Partners.
As of Monday, 30 on-demand startups had received early-stage funding this year, according to CB Insights, compared with 61 in the first six months of last year.With VCs clamoring for profits, on-demand startups must walk a fine line between alienating their customers by hiking prices and irritating investors by burning too much cash, says Tim Young, a general partner at Eniac Ventures.Meanwhile, leading Valley incubator Y Combinator says fewer Uber for X startups are applying for spots, according to Jared Friedman, a partner there.None of this is to say that the on-demand concept is going away.For example, a company like Doordash says that by batching orders together it can increase the number of food deliveries per hour.Yes, such companies have managed to contract out the labor and pay no benefits.Uber is big enough to afford large legal bills, including a settlement with drivers in California and Massachusetts last month that could reach $100 million.The company could easily have gotten funding a year ago because it s well-run and has good metrics, one of the people said.Ali Vahabzadeh, Chariot s founder and chief executive officer, said his company isn t currently out fundraising but is instead focused on reaching profitability.
PlayReplay with soundPlay withsound00:0000:00OffDeutschEnglishFrançaisעבריתNederlandsРусскийKickstarteralert icon arrow-down icon arrow-left icon arrow-right icon arrow-thin-left icon arrow-thin-right icon arrow-up icon backer-badge icon bar-chart icon bell icon book icon brand-assets icon calendar icon cart icon chat icon check icon clipboard icon clock icon close icon closed-caption icon compose icon conversion icon direct-left icon direct-right icon direct-up icon download icon drop-down icon embed icon expand icon facebook-box icon facebook icon flag icon globe icon grid icon heart icon help icon image icon info icon instagram icon kickstarter-circle icon kickstarter icon leaf icon link icon location-pin icon lock icon mail icon menu icon move icon music icon pause icon pin icon pinterest icon play icon plus-circle icon plus icon report icon ribbon icon search icon share icon star icon stop icon tag icon thumbs-up icon tools icon trash icon tumblr icon twitter icon unlink icon user icon video icon view-all icon vine icon volume-up icon volume icon write icon youtube iconPebble, widely recognized as the creator of the modern smartwatch, has found tremendous success on Kickstarter since its first appearance in 2012.Currently, it enjoys the first and third most funded campaigns in Kickstarter history which is why the company is going back to the well once again – this time with three new products in tow.This model, manufactured from marine-grade stainless steel that s offered in gold, black or silver, features a new color ePaper display that s said to be 53 percent larger than the original.After an impressive few years, things seemed to turn south for Pebble as the company announced just two months ago that it was laying off a quarter of its staff, or roughly 40 employees.Founder and CEO Eric Migicovsky said at the time that the fundraising environment in Silicon Valley was pretty tight but that they had still managed to raise $26 million over the previous eight months to keep things rolling.Pebble expects to ship the Pebble 2 this September followed by the arrival of the Time 2 in November and the Pebble Core in January 2017.
Brian Ascher joined Venrock in 1998 as a Kauffman Fellow and is currently a Partner based in Venrock s Palo Alto office.How to join the networkFor the inaugural episode of Venrock s new podcast, Running Through Walls, I spoke with Russ Fradin, CEO and founder of Dynamic Signal, about his long history as an entrepreneur.I have known Russ for years and was also an investor in Adify, where he was founder and CEO.Having founded 3 companies, today Russ also advises several other start-ups as a board member.Our conversation covered a variety of topics, including lessons learned from Dynamic Signal s early pivot, Russ s contrarian view on fundraising, and why he s the only CEO I know who answers every email he receives.Takeaways from raising 25 venture rounds 3:11 Why it s not that challenging to be accessible 7:28 How to build a good relationship with VCs 12:48 Why it s stupid to be stealth in the enterprise world 13:39 The three things that matter the most about culture 16:43
More FILE - In this Thursday, March 8, 2012, file photo, Clarium Capital President Peter Thiel speaks during his keynote speech at the StartOut LGBT Entrepreneurship Awards in San Francisco.AP Photo/Ben Margot, File Here's some biographical information on billionaire tech investor Peter Thiel, who has been secretly funding Hulk Hogan's lawsuit against Gawker Media, according to published reports:BORN: Oct. 11, 1967, in Frankfurt, Germany.COMPANY CONNECTIONS: Thiel co-founded PayPal in 1998 and was its chairman and CEO.He has also donated to the campaigns of former GOP presidential candidate Carly Fiorina and Sen. Mike Lee, R-Utah, according to the Center for Responsive Politics, which tracks political fundraising and spending.He's backed other unusual projects, including an effort to try new forms of government on man-made islands that would float outside the territory of current nations.He's also supported the Human Rights Foundation, the Committee to Protect Journalists and the Singularity Institute for Artificial Intelligence.
Trump said Wednesday that Rick Wiley "should be fired" for his handling of a fundraising deal with the Republican National Committee.4.Japan's prime minister publicly scolded US President Barack Obama to his face over a "despicable" Okinawa murder allegedly committed by an American.Shinzo Abe told Obama that he was lodging a "protest" over the death of a 20-year-old woman who had been missing since April.6.US Democratic presidential candidate Hillary Clinton "did not comply" with State Department policies when she chose to use a personal email account to conduct government business, according to an inspector general's report released Wednesday.7.Syrian President Bashar al-Assad's army captured a key breadbasket, and now 600,000 Syrians face starvation.10."It's cheaper to buy a $35,000 robotic arm than it is to hire an employee who's inefficient making $15 an hour bagging french fries," former McDonald's USA CEO Ed Rensi said.And finally ...Young people should consider moving to these affordable "18-hour cities" to start their careers.NOW WATCH: These are the best, highest-paying companies in AmericaLoading video...
The price of Snapchat's shares were flat compared to last year in a recent fundraising round, according to a report in The Information.Snapchat raised $1.81 billion in funding, the company disclosed in a filing on Thursday.Media reports pegged the company's valuation in the new round as ranging between $18 billlion and $22 billion.That would be a nice increase from the $16 billion valuation that the company fetched in its previous round of funding in March 2016.But according to The Information, which cited two anonymous sources familiar with the matter, the price per share that investors paid for Snapchat equity in the latest round was the same as in the $16 billion valuation round.Snapchat's total valuation in the current round rose to between $17 billion and $18 billion, according to the report.But that was only because the company issued more shares, rather than due to an increase in Snapchat's share price.The company appears to be preparing for an initial public offering, even as it raises vast sums of money, and has quietly added an IPO expert to its board of directors, Business Insider reported earlier on Thursday.You can read the full report from The Information here.NOW WATCH: An in-wall vacuum makes sweeping so much easierLoading video...
The other startup that had a similar license was Cruise Automation, which General Motors Co. acquired in March.California has also granted permits to Google parent Alphabet Inc., Ford Motor Co., Tesla Motors Inc. and about a half-dozen other companies.Uber Technologies Inc. has started testing self-driving cars in Pittsburgh, where it collaborates with the robotics group at Carnegie Mellon University.Technology companies and automakers are racing to build cars capable of driving without human intervention.The Wall Street Journal earlier reported details of Zoox's fundraising.The newspaper said Hong Kong-based AID Partners Capital Holdings Ltd. invested $20 million into the round and that Zoox has 140 employees, including former Alphabet, Apple and Tesla workers.Before it went quiet, Zoox showed off sporty renderings of a concept car, one with a low roof and no windshields, designed to drive in both directions.Zoox is looking to create driverless cars for a ride-hailing service similar to Uber, according to a report last year in the trade publication IEEE Spectrum.Zoox's founders include an Australian designer and a Stanford University grad who worked on self-driving cars alongside Sebastian Thrun, co-creator of Alphabet's autonomous-vehicle project.In recent months, Zoox has brought on board members including Laurie Yoler, the former president of Qualcomm Labs, and Dan Cooperman, the former general counsel for Apple Inc. and Oracle Corp.
Over the course of a year, his campaign has out-raised Clinton s, amassing more than 6 million mostly small-dollar donations and drawn record-breaking crowds, with more than 28,000 people turning out to his Brooklyn rally in April alone.Bernie is great, says Saikat Chakrabarti, who worked as Sanders director of organizing technology until April, but we ve got to keep this political revolution going.That way, the candidates won t have to mount their own fundraising campaigns, and the community of donors and volunteers can focus their resources on a single entity.Those earlier campaigns built strong grassroots communities.Now, almost all of these groups are hanging out on Reddit, Facebook, and Twitter, and Slack, Chakrabarti says.says Joe Trippi, who served as Dean s campaign manager in 2004.
Financial support for Trump, who famously called Mexican immigrants rapists and speculated this week about the race of the judge overseeing a lawsuit against Trump University, seems incongruous with Krzanich s diversity activism.Krzanich has invested heavily in increasing diversity at Intel, spending $300 million on diversity efforts and working with Rev.Intel s PAC, which is funded by contributions from the company s employees, donated a total of $781,784 to politicians in 2015, according to Intel s annual corporate responsibility report.Fifty-five percent of the money went to Republican members of Congress and their PACs, with the remainder going to Democratic leaders.In addition to Intel s contributions to members of Congress, the company also donated to several Republican groups in the last year, including a $5,000 donation to the Freedom Project last May and a $2,500 donation to Invest in a Strong and Secure America this January.Wyden is known for his advocacy on behalf of technology and has supported strong encryption in Congress.
Photo: EPA, Long Wei.SoftBank Group Corp, the largest investor in Alibaba Group, has made a total divestment of US$8.9 billion worth of shares that it owned in the Chinese e-commerce giant as part of a major fundraising effort.In a statement on Thursday, the Japanese conglomerate said its newly formed Mandatory Exchangeable Trust had successfully made an aggregate private placement of US$5.5 billion in securities exchangeable into Alibaba shares in three years to unnamed qualified institutional buyers .In that announcement, Alibaba agreed to buy US$2 billion of its own shares from SoftBank using cash on hand.GIC Private Limited, a sovereign wealth fund established by the Singapore government, had also agreed to buy US$500 million of Alibaba shares from SoftBank.The company had a 32.2 per cent stake in the world s largest e-commerce services company as of March 31.
Photo: EPA, Long Wei.SoftBank Group Corp, the largest investor in Alibaba Group, has made a total divestment of US$8.9 billion worth of shares that it owned in the Chinese e-commerce giant as part of a major fundraising effort.In a statement on Thursday, the Japanese conglomerate said its newly formed Mandatory Exchangeable Trust had successfully made an aggregate private placement of US$5.5 billion in securities exchangeable into Alibaba shares in three years to unnamed qualified institutional buyers .In that announcement, Alibaba agreed to buy US$2 billion of its own shares from SoftBank using cash on hand.GIC Private Limited, a sovereign wealth fund established by the Singapore government, had also agreed to buy US$500 million of Alibaba shares from SoftBank.The company had a 32.2 per cent stake in the world s largest e-commerce services company as of March 31.
Ride-sharing apps have been attracting big money since the start of the year, with Saudia Arabia s $3.5 billion investment Thursday into Uber Technologies Inc. only the most recent example of the industry's $9 billion's haul.Some are passive investments in the future of transportation.The investment is seen as a chance for Saudi Arabia to further diversify its portfolio into overseas companies and the fast-growing tech industry.Didi – June 1.Jean Liu, the president of Uber s biggest global competitor, Chinese ride-hailing company Didi, says her company is working on closing a funding round of more than $3.5 billion.Didi –  May 13.Some suspect what Apple really wants is data from all those millions of daily rides to help train a self-driving car that the company has under wraps.Lyft – Jan. 4.Volkswagen invests $300 million into a strategic partnership with Israeli-based taxi hailing service Gett, which has differentiated itself by allowing users to order up on-demand rides from London s traditional black cabs -- right after bidding to buy one of the biggest of those traditional businesses, Radio Taxis.Scoop – May 25.BMW s venture capital arm, BMW I, makes an undisclosed investment as part of a $5.1 million fundraising round for the California-based carpooling app that matches employees of companies such as Cisco Systems and Microsoft Corp. for commuting in the San Francisco Bay area.
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