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Why one Databricks investor thinks the company may be undervalued The recent Databricks funding round, a $1 billion investment at a $28 billion valuation, was one of the year’s most notable private investments so far. For Databricks signaled its IPO readiness by disclosing to TechCrunch last year that it had scaled its revenue run rate from $200 million to $350 million in a year, so the new capital looked like the capstone on its private fundraising before an eventual public debut. But I did have a few questions, starting with the price of the round. At a $28 billion valuation and ARR of $4...

The big story: Jeff Bezos will step down as Amazon CEO Amazon announced today that founder Jeff Bezos will be transitioning from CEO to executive chair in the third quarter of this year. Andy Jassy, currently the CEO of Amazon Web Services, will be taking over as chief executive for the entire company. In an email to employees, Bezos said that this will allow him to devote more time to “Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and [his] other passions.” Jassy, meanwhile, had previously been identified as a likely successor. The tech giants Uber is buying alcohol...

Venture capital is going to get even bigger, faster and more expensive this year Looking back, looking ahead The venture capital market has skewed later and larger in recent quarters, something you might have felt in the rapid recent pace of new unicorn formation. December was a hot month for new unicorns, for example. So was January. February likely will be more of the same. Powering those unicorn births are huge rounds led by large funds. In 2020, for example, there were at least 97 global fintech rounds worth $100 million or more. That number was up from 92 in 2019 and 66 in 2018. Each pre...

Bumble IPO could raise more than $1B for dating service Is there room in the market for more dating products? On the heels of private companies Robinhood and Databricks eachraising $1 billion or more yesterday, Bumble is out with a new IPO filing this morning indicating that it wants to raise 10 figures as well. The relationship-finding service where women reach out first will go public on the heels of strong public debuts in December by companies like Airbnb, DoorDash and C3.ai with Qualtricsand Poshmark lighting the way in January. But at a range of $28 to $30 per share, is Bumble aiming h...

8 Miami-area investors assess America’s southernmost tech ecosystem 'There’s a lot of potential for this city, but Rome wasn’t built in a day' The exodus out of San Francisco and New York is making a big impact on Miami, a city that’s been steadily growing into a tech hub over the last 15 years. We’re seeing a “moment” in Miami, but many are hoping — and working — to turn it into a movement. In late January, Softbank Group International announced a $100 fund directed at Miami’s exploding tech scene. As explained in this article, this is the latest validation that Miami is ...