Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.
This week was packed with news, most of it pretty bad. But Zoom did well, so there’s that. Happily we had our dynamic pairing, Alex “Have I Died” Wilhelm and Danny “Good Hair” Crichton on hand to parse through it all. (A reminder that Equity now hits your podcast app twice a week, so peep us Monday mornings!)
So what was on the docket? A host of things, starting with a big new early-stage fund:
- Kleiner has more money, again. About a year after raising a $600 million vehicle, Kleiner Perkins raised a new, larger fund. Now flush with $700 million, the longstanding venture group has more money to play with than it has in recent memory. For early-stage deals, that is.
- Atrium shut down after raising $75 million. Investors got some of their money back, but the company had to lay off its 100 employees. The lesson here is that famous backers and tenured founders can’t will something into existence that doesn’t work.
- OYO is laying people off. Again. The major SoftBank Vision Fund-backed Indian hotel brand was supposed to be a massive hit. Now, with novel coronavirus and other challenges, it and global tourism are hitting snags.
- We also poked at the Robinhood downtime that came during a period of sharp trading swings. The company has a lot of work to do to recover user trust, and continue to grow into its valuation. (More on that here.)
- Zoom was the day’s good news, posting strong earnings (here), possibly indicating that remote-work companies are seeing demand for their products.
We closed on a pair of posts from Danny based on AngelList and DocSend data that shows how signaling risk for startups has changed over the years, and how many pre-seed investors the average founder talks to during their first fundraise.
That’s all from your friendly, local Equity crew. More soon!
Source: TechCrunch
