Mutiny at HQ Trivia fails to oust CEO

This week’s banishment of host Scott Rogowsky was merely a symptom of the ongoing struggle to decide who will lead HQ Trivia. According to multiple sources, over half of the startup’s staff signed an internal petition to depose CEO Rus Yusupov who they saw as mismanaging the company. But Yusupov then fired some core supporters […]

To fund Y Combinator’s top startups, VCs scoop them before Demo Day

Hundreds gathered this week at San Francisco’s Pier 48 to see the more than 200 companies in Y Combinator’s Winter 2019 cohort present their two-minute pitches. The audience of venture capitalists, who collectively manage hundreds of billions of dollars, noted their favorites. The very best investors, however, had already had their pick of the litter. […]

Lightspeed announces new $560 million fund for China

Global investor Lightspeed is starting 2019 with its largest-ever fund for China, where it has backed a number of new internet challengers. The firm announced this week that its fourth China fund has closed with a total capital commitment of $560 million. The firm had a massive 2018, with no fewer than five of its portfolio holding IPOs […]

5 unicorns that will probably go public in 2019 (besides Uber and Lyft)

There’s been plenty of fanfare surrounding Uber and Lyft’s initial public offerings — slated for early 2019 — since the two companies filed confidential IPO paperwork with the U.S. Securities and Exchange Commission in early December. On top of that, public and private investors have had plenty to say about Slack and Pinterest’s rumored 2019 IPOs but […]

Lightspeed is raising its largest China fund yet

Lightspeed China Partners, the China-focused affiliate of Silicon Valley-based Lightspeed Venture Partners, has set a $360 million target for its fourth flagship venture fund, according to a document filed with the U.S. Securities and Exchange Commission today. If the target is reached, the fund will be Lightspeed China’s largest yet, per PitchBook. Lightspeed China’s previous two funds […]

Distinguished VCs back wholesale marketplace Faire with $100M at a $535M valuation

A slew of venture capitalists known for high-profile exits — Kirsten Green of Forerunner Ventures, Keith Rabois of Khosla Ventures, Alfred Lin of Sequoia Capital and Alex Taussig of Lightspeed Venture Partners — have invested in Faire (formerly known as Indigo Fair), a 2-year-old wholesale marketplace for artisanal products. A quick glance at Faire suggests it’s […]

Grab lands $50M from Thailand’s Kasikorn Bank to further its fintech push

Southeast Asia ride-hailing firm Grab is continuing to add strategic investors to its ongoing Series H round — which is targeted at more than $3 billion — after it revealed Thai bank Kasikorn put in $50 million as part of a strategic partnership to advance its financial services strategy. Kasikorn joins Hyundai ($250 million), Microsoft […]

Corporate travel startup TripActions raises $154M at $1B valuation

TripActions, one of the most well-capitalized travel startups in Silicon Valley, has raised yet another round of VC valuing the corporate travel manager at more than $1 billion. Andreessen Horowitz co-founder Ben Horowitz will join TripActions’ board of directors as part of the startup’s $154 million in Series C funding. Lightspeed Venture Partners, Zeev Ventures and […]

Grab pulls in $250M from Hyundai as ongoing round reaches $2.7B

Grab, the Singapore startup that bought Uber’s Southeast Asia business earlier this year, continues to announce strategic investors for its ongoing Series H funding round. The latest edition revealed today is Korean automotive firm Hyundai, which is investing $250 million. Hyundai first invested in Grab in January, and it joins recently announced investors Microsoft (undisclosed) […]

Epic Games, the creator of Fortnite, raises $1.25 billion

It pays to have the most popular game in the world. Epic Games, the creators of the runaway gaming smash hit Fortnite, have raised $1.25 billion in a new round of financing. via GIPHY It’s been 20 years since Epic Games first released its Unreal game development engine in concert with its first person shooter, […]