Uber clearly does not subscribe to the ‘mo money ‘mo problems theory. The company has raised another $1.6 billion dollars, this time in a convertible debt round from Goldman Sachs according to Bloomberg sources. It’s a loan that will turn into a stake in the company when Uber goes public, at a 20 to 30 percent discount on Uber’s IPO valuation. It adds to the company’s warchest, bringing its total funding up to more than $4 billion, with the company still working to raise another $600 million in the near future from hedge funds.
Snapchat rang in the new year with $485.6 million in new funding, according to an SEC filing published December 31.
The funding came from 23 investors, unnamed in the filing but rumored to include Kleiner Perkins and [company]Yahoo[/company]. The startup reportedly turned down a $3 billion acquisition offer from [company]Facebook[/company] in 2013.
Snapchat lets users send photos and videos that disappear after a few seconds, but is attempting to more elements to its messaging program in order to earn that reported $10 billion valuation. In November, the platform rolled out a mobile payments feature, called Snapcash, powered by Square.
The recent Sony hacks also revealed a number of internal Snapchat emails (Sony Entertainment’s CEO is on Snapchat’s board) that provide some insight into what the company is working on and why investors are excited about it.
In what may be a private company money-raising record, Uber is reportedly raising yet another round. You may be asking yourself — wait, didn’t they just raise $1.2 billion? Yes, that was in June. And according to Financial Times sources, now Uber supposedly wants to raise another $1 billion, aiming for a $17 billion valuation to help fuel its international growth. Normally at this point a company would go public to get the revenue for that level of scale, so it’s not entirely clear why Uber is choosing the private funding route.
Ello has raised $5.5 million in a round led by Colorado’s Foundry Group. The social networking site’s rapid viral growth moved up the timeline on its fundraising efforts, since it needed the cash to keep up with the flood of user requests. Along with the round, the company converted Ello into a public benefit corporation — legal lip service for prioritizing the public good over profits — and had investors sign a no-ad agreement.
Building hardware is hard. So is raising venture capital. So which of the two big crowdfunding sites offer an entrepreneur the best chance at both?
When you’re looking to crowdfund your latest project, does it matter who you list with? Two Silicon Valley workers scraped the data to compare Indiegogo and Kickstarter, but results are mixed.
As more MVNOs populate the mobile landscape, it’s becoming harder for one virtual operator to distinguish itself from another. GIV is separating itself from the pack by focusing on charitable giving.
The next breakout Kickstarter project may emerge outside the U.S. for the first time now that the popular crowd-funding site is preparing to expand overseas. The start-up announced on Twitter that people in the UK will be able to launch projects starting this fall.
Skype and Lovefilm backer Index Ventures has just added a new €350 million early stage fund to its arsenal, and now plans to use it to back dozens of companies across Europe, America and Israel over the next three years.
Forget Quora: Swedish startup Mancx is trying to put a twist on question and answer sites by getting people to pay real money for the information they receive — and it’s just raised another $1.65m to expand.