Hi there and welcome relieve to Equity, TechCrunch’s mission capital-focused podcast, where we unpack the numbers in the relieve of the headlines.
This week used to be a slight particular. Rather then meeting up at the TechCrunch HQ to file the episode, Kate and Alex met up in muggy Boston at Streak’s location of enterprise, where we linked up with Axios’s Dan Primack. And since we were feeling chatty, we went a slight prolonged.
After checking in with Primack (he has a newsletter and a podcast), we first dealt with the most modern from Tumblr. Briefly, Verizon Media is promoting Tumblr to Automattic for a couple of greenbacks. How did Verizon finally cease up proudly owning Tumblr? Ah. Effectively, Yahoo bought it. Later, after Verizon bought AOL, it bought Yahoo. Then it smushed them together and known as it Oath. Then Verizon decided that it didn’t admire that great and renamed the neighborhood Verizon Media. However Verizon doesn’t must beget media (apart from TechCrunch, clearly), so it bought Tumblr to Automattic, a mission-backed firm most efficient known for working WordPress.
That’s loads, I do know. What issues is that Yahoo bought Tumblr for more than $1 billion. Verizon bought it for around $3 million. Now, Automattic now has a couple of hundred modern staff and a shot at juicing its userbase before it goes public.
After that, we lamented that the WeWork S-1 had yet to appear. This used to be a tragedy, frankly. We had expected to employ half the describe riffing on WeWork’s financials, alas…
So we turned to a couple favorite materials, admire Ramp’s recent $7 million elevate to allege on Brex, and, SmartNews’s recent spherical, which gave it an survey-popping $1.1 billion valuation.
We ran a slight prolonged because we were having fun, becoming in some conversation surrounding the notes from the SEC regarding the now-dull after which-fraudulent Rothenberg Ventures. More on that here in sing for you to salvage offended.
And in the slay, Imaginative and prescient Fund 2. It’s been a colossal source of pastime for each person on the describe, and we question no topic the second-act Imaginative and prescient Fund winds up changing into to be a colossal rattling deal. The fund will put money into more than proper person marketplaces, in actuality, it’s eyeing more AI companies and even biotech. That would gentle be moving.
All that and we private now great more factual stuff coming. Thanks for being attentive to the describe, and we’ll be appropriate relieve.
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