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Spotify wants to have a bigger presence in your car, Apple hints at iPad-centric announcements and Microsoft’s new Surface Laptop goes on sale. This is your Daily Crunch for April 13, 2021. The big story: Spotify unveils an in-car entertainment system Spotify’s new device is the oddly (but memorably!) named Car Thing. While there are […]
Coinbase opens at $381 per share, valuing the crypto exchange at nearly $100B Today shares of Coinbase began to trade after the company executed a direct listing. From a reference price of $250, Coinbase shares opened at $381 today, a change of around 52%. At its open Coinbase was valued at $99.6 billion on a fully diluted basis. As of the time of writing Coinbase has appreciated further to just over $400 per share, valuing the company at a touch more than $104 billion. Coinbase was worth $65.3 billion at its reference price, on a fully diluted basis. Coinbase’s debut has been hotly anticip...
Inside the US’ epic first-quarter venture capital results Q1 2021 brought big money, fast deals and huge valuations It’s no surprise that the venture capital market was incredibly active in the United States during the first quarter of 2021, but precisely how strong has only recently become clear. This morning, we’re digging into the data. According to a report from PitchBook, venture capitalists unleashed a wave of capital in the first three months of the year. So much, in fact, that funding in the United States nearly doubled compared to the same quarter of 2020. We’ll dig into spe...
Expect an even hotter AI venture capital market in the wake of the Microsoft-Nuance deal Finally, Microsoft is having an impact in Silicon Valley Microsoft’s huge purchase of health tech AI company Nuance led the technology news cycle this week. The $19.7 billion transaction is Microsoft’s second-largest to date, only beaten by its purchase of LinkedIn some years ago. For the AI space, the sale is a coup. Nuance was already a public company, but to see Microsoft offer a firm premium over its public-market value demonstrates the value that AI technology can have to wealthy companies. For s...
Ride-hailing’s profitability promise is in its final countdown After a short hiatus, The Exchange is back. We’ll spend part of this week digging into the global venture capital scene’s Q1 performance, but today, we’re kicking off with a quick dive into Uber, Lyft, Deliveroo and DoorDash — and the ability of on-demand companies of various stripes to generate profit. Uber is our lodestone today because it dropped a new SEC filing that includes some notes on its recent performance. And, most critically, a piece of guidance for investors concerning its ability to make money this year. B...