Flipkart co-founder Sachin Bansal invests $92M in Ola


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The money is starting to flow from India’s largest startup exit. Ola has added a major name to its ongoing financing round after it confirmed that Flipkart co-founder Sachin Bansal has invested 650 crore INR (around $92 million) into the Indian ride-hailing business.

The deal rumored in January when Paper.vc, an intelligence service that sifts through company filings in India, noticed that Bansal had committed to investing 150 crore. Today, eight-year-old Ola not only confirmed the pairing, but it revealed that the actual size of Bansal’s investment is significantly higher. It represents his most prominent and largest investment to date, and his first major deal since he left Flipkart following its sale to Walmart for $16 billion last year.

TechCrunch understands that Bansal will not take an advisory role nor will he be involved in operations.

The investment is part of an ongoing Series J round of financing

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Healthcare wearables level up with new moves from Apple and Alphabet


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Announcements that Apple has partnered with Aetna health insurance on a new app leveraging data from its Apple Watch and reports that Verily — one of the health-focused subsidiaries of Google‘s parent company — Alphabet, is developing a shoe that can detect weight and movement, indicate increasing momentum around using data from wearables for clinical health applications and treatments.

For venture capital investors, the movea from Apple and Alphabet to show new applications for wearable devices is a step in the right direction — and something that’s been long overdue.

“As a healthcare provider, we talk a lot about the important of preventative medicine, but the US healthcare system doesn’t have the right incentives in place to pay for it,” writes Cameron Sepah, an entrepreneur in residence at Trinity Ventures. “Since large employers largely pay for health care (outside of Medicaid and Medicare), they usually aren’t incentivized to

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How business-to-business startups reduce inequality


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When considering the structural impact of technology companies on our economy and society, we tend to focus on questions of scale and monopoly.

It’s true that the FAANG companies and more recent winners (Airbnb, Uber) have surfed a combination of network effects, preferential access to capital and classic efficiencies of scale to generate tremendous value for their shareholders—to the detriment of new entrants who attempt to unseat them.

At their high water mark in mid-2018, FAANG alone made up 11% of the total market cap of the S&P 500 and 38% of the

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Starting with data centers, Carbon Relay is slashing energy costs and emissions using AI


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Taiwanese technology giant Foxconn International is backing Carbon Relay, a Boston-based startup emerging from stealth today, that’s harnessing the algorithms used by companies like Facebook and Google for artificial intelligence to curb greenhouse gas emissions in the technology industry’s own backyard — the datacenter.

Already, the computing demands of the technology industry are responsible for 3% of total energy consumption — and the addition of new technologies like Bitcoin to the mix could add another half a percent to that figure within the next few years, according to Carbon Relay’s chief executive, Matt Provo.

That’s $25 billion in spending on energy per year across the industry, Provo says.

A former Apple employee, Provo went to Harvard Business School because he knew he wanted to be an entrepreneur and start his own business — and he wanted that business to solve a meaningful problem, he said.

Variability and dynamic nature of

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Entrepreneur First eyes further Asia growth to build its global network of founders


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British startup venture builder Entrepreneur First is eying additional expansion in Asia, where its operation is now as large as it is in Europe, as it expands its reach in 2019. But, despite serving a varied mixture of markets, the company said its founders are a fairly unified breed.

The Entrepreneur First program is billed as a “talent investor.” It matches prospective founders and, through an accelerator program, it encourages them to start and build companies which it backs with financing. The organization started out in London in 2011, and today it is also present in Paris and Berlin in Europe and, in Asia, Singapore, Hong Kong and (soon) Bangalore. To date, it says it has graduated over 1,200 founders who have created more than 200 companies, estimated at a cumulative $1.5 billion on paper.

Those six cities cover a spread of unique cultures — both in general life and

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Backing Culture Genesis, T.I. launches Tech Cypha, an investment syndicate for tech deals


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With an inaugural investment into the Los Angeles-based entertainment startup Culture Genesis, Clifford Harris Jr., who’s better known as “T.I.”, has launched a new syndicated investment vehicle called Tech Cypha.

Launched by the music and cultural impresario with more hustle than hustle and his business partner Jason Geter, the new collaborative investment strategy focused on tech startups will allow high-net-worth individuals to participate in deals.

The strategy has evolved since Geter and Harris made their first investment 12 years ago into a company called Streetcred.com, a site that allowed fans to go online and share opinions about street culture. While that first deal didn’t work out, Geter and Harris both remained interested in the technology and startup scene and saw a new opportunity to leverage their networks and promote new businesses.

“We learned a

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Contabilizei raises $20 million to ease Brazilians’ tax pain


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Online tax filing and accounting service, Contabilizei, has raised $20 million in a new round of financing led by Point72 Ventures, the early stage investment arm associated with hedge fund guru Steven Cohen’s Point72 Asset Management.

Smart money in both the venture and private equity space has been long Brazil for a bit, and the new investment provides even more firepower to the thesis that Brazil’s startup ecosystem is on the move.

“For the Brazilian ecosystem, the investment represents the trust and the opportunity that we have here in the Brazilian market. For quite some time it was difficult to attract this kind of investment from abroad,” says Contabilizei chief executive Vitor Torres. Even though we had a recession there are technology companies that are growing,” Torres says, saying that the company has already staved off acquisition offers and will eventually eye a potential public offering in U.S. or

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A photo of an egg has toppled reality star Kylie Jenner as Instagram’s most-liked post


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Instagram has found something it likes more than a Kardashian-Jenner family baby, and it’s an egg.

This weekend, a photo of a plain egg became the most-liked photo on Instagram, the social app owned by Facebook with over one billion users that’s reflective of internet culture.

The photo, which you can see below in its full glory, currently has more than 23 million likes at the time of writing. That has seen it surpass a February 18 photo from Kylie Jenner — the sister of Kim Kardashian and a reality TV star in her own right — which announced the birth of her baby with rapper Travis Scott and has 18.2 million likes.

Why Silicon Valley needs more visas


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When I hear protesters shout, “Immigrants are welcome here!” at the San Francisco immigration office near my startup’s headquarters, I think about how simple a phrase that is for a topic that is so nuanced, especially for me as an immigrant entrepreneur.

Growing up in Brazil, I am less familiar with the nuances of the American debate on immigration legislation, but I know that immigrants here add a lot of jobs and stimulate the local economy. As an immigrant entrepreneur, I’ve tried to check all of those boxes, and really prove my value to this country.

My tech startup Brex has achieved a lot in a short period of time, a feat which is underscored by

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Moon-bound billionaire supplants nugget lover’s most retweeted tweet


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A Japanese billionaire who’s paying Elon Musk to fly him around the Moon, assuming all goes to plan with SpaceX’s giant metal phallus, has bought himself a rather different ride in the meanwhile.

The BBC reports that Yusaku Maezawa has elbowed aside nugget-loving U.S. teen, Carter Wilkerson, to bag the title of most retweeted tweet by promising to give away 100 million yen (just under $1M) in cash if people RT the tweet.

His 5 million+ Twitter followers probably helped too.

At the time of writing Maezawa’s January 5 tweet has ~4.6M RTs (and counting), beating out Wilkerson’s April 2017 tweet pleading for free chicken nuggets which now has circa 3.6M RTs.

Sorry kid.

Of course it’s not a fair fight. Wilkerson had just 138 Twitter followers to provide native uplift when

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Travel activities startup KKday lands investment from Alibaba and Line


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Taiwan’s KKday, a startup in the increasingly competitive travel activities space, has pulled in an undisclosed funding round that adds two strategic investors to its business: Chinese e-commerce firm Alibaba and Japanese chat app company Line.

KKday was founded in 2015 to help people who travel overseas to find and book activities, ranging from tours to tourist attraction, transportation, museums and more. The company said it offers over 20,000 “unique experiences” in over 500 cities across 80 countries. There is much potential to move into, it seems, with analyst firm Phocuswright predicting that the travel tour and activities market will grow by one-third to reach $183 billion by 2020.

Unlike Hong Kong-based regional rival Klook, which is valued at over $1 billion and has ventured into Europe and the U.S, KKday is focused on Asian markets only.

We last wrote about the startup in January when it raised a

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How the Apple Watch changed the world


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In 2015 Switzerland was fucked. This blunt belief, grunted out by Apple’s Jony Ive and repeated by the media as a death knell for the watch industry, seemed to define a sad truth: that the Swiss watch was dead and Apple pulled the trigger.

Now, three years and four Apple Watches later, was Ive right? Did Apple change the world? And, most importantly, did Switzerland survive?

Yes, but…

As you might have noticed the Swiss watch industry is still standing. The major Swiss houses – LVMH, Richemont, and Swatch Group – are seeing a major uptick in sales, especially in the US. According to the Federation of the Swiss Watch Industry, sales are up 5.5% year-over-year, a bit of news that was, amusingly, almost buried by the onslaught of Apple Watch Series 4 reviews.

This increase of US sales bucked a major trend this year and one

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Silicon Valley’s sovereign wealth problem


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It’s time to bring the conversation about where Silicon Valley gets its money from out into the open. Following recent revelations into Saudi Arabia’s extensive reach and influence in the US technology sector, the willful ignorance that has defined the relationship between venture capital firms and the limited partnerships (LPs) that fund them for years now isn’t going to cut it anymore.

According to the latest reports from the Wall Street Journal, Saudi Arabia is now the single-largest source of funding for US-based tech companies. Since 2016, the Saudi royal family has invested at least $11 billion into US startups directly, and in August, the Saudi Arabian government committed $45 billion to Softbank’s $92 billion Vision Fund. To put that into context, the total amount of funding deployed across all VC deals so far in

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Lessons from building Brex into a billion-dollar startup


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When I think about my experience as an immigrant and entrepreneur in Silicon Valley, I remember growing up in Brazil and how we saw tech founders and CEOs as kings. We imagined what it would be like to assume the throne.

But these weren’t just any kings. Silicon Valley was the kingdom of nerds and underdogs. We identified with these guys, they were just like us. We were fed the myth of a Silicon Valley meritocracy, and the illusion that all you needed was ambition, determination, and a good idea to meet the right person and get funded.

What we didn’t understand was that this myth was not completely rooted in reality. Not everyone has access to the American Dream, and those who do have a track record of success

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The Hack Fund will use crypto to give startups early liquidity


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Now that “utility” tokens have become a popular and international way to fund major blockchain projects, a pair of investors are creating a new way to turn tokens into true equities. The investors, Jonathan Nelson and Laura Nelson, have created Hack Fund, an early stage investment vehicle that allows startups to launch what amounts to “blockchain stock certificates,” according to Jonathan.

“Our previous business model exchanged equity from startup companies for services, and wrapped that equity into funds that we then sold to investors. These fund investors have included family offices, institutions, and high net worth individuals,” said Jonathan. “However, Hack Fund represents a new business model. Because Hack Fund leverages the blockchain, investors all over the world at all levels can participate in startup investing by trading blockchain stock certificates. Also, its SEC compliant structure means that it is also available to a limited number of accredited investors

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KZen raises $4 million to bring sanity to crypto wallets


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KZen, a company run by former TC editor Ouriel Ohayon, has raised $4 million in seed to build a “better wallet,” obviously the elusive Holy Grail in the crypto world.

Benson Oak Ventures, Samsung Next, Elron Ventures invested.

Ohayon, who has worked at Internet Lab and founded TechCrunch France and Appsfire, wanted to create an easy-to-use crypto wallet that wouldn’t confound users. The company name is a play on the Japanese word kaizen or improvement and it also points to the idea of the zero-knowledge proof.

Omer Shlomovits, Tal Be’ery, and Gary Benattar are deep crypto researchers and developers and helped build the wallet of Ohayon’s dreams.

“We wanted something that did not feel like a pre-AOL experience, that was incredibly superior in terms of security, and simple to use,” he said. “We wanted a solution that brings peace of mind and that did not force the user

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VCs say Silicon Valley isn’t the gold mine it used to be


This post is by Kate Clark from TechCrunch


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In the days leading up to TechCrunch Disrupt SF 2018, The Economist published the cover story, ‘Why Startups Are Leaving Silicon Valley.’

The author outlined reasons why the Valley has “peaked.” Venture capital investors are deploying capital outside the Bay Area more than ever before. High-profile entrepreneurs and investors, Peter Thiel, for example, have left. Rising rents are making it impossible for new blood to make a living, let alone build businesses. And according to a recent survey, 46 percent of Bay Area residents want to get the hell out, an increase from 34 percent two years ago.

Needless to say, the future of Silicon Valley was top of mind on stage at Disrupt.

“It’s hard to make a difference in San Francisco as a single entrepreneur,” said J.D. Vance, the author of ‘Hillbilly Elegy’ and a managing partner at Revolution’s Rise of the Rest

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Ready, Set, Raise is a new accelerator built for women by women


This post is by Kate Clark from TechCrunch


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Women in tech are not only significantly under-funded by venture capitalists, but they also often lack access to the early-stage support granted to their male counterparts.

To enroll in a startup accelerator like Y Combinator, for example, its expected founders relocate to the Bay Area for three months. Women, who are more often caregivers, might not be able to do that, and even if they can, the program may not cater to their specific needs.

Female Founders Alliance (FFA), a relatively new network of female startup founders, has built a free, non-dilutive 5-week accelerator for women by women. Called ‘Ready, Set, Raise,’ its goal is to help more female-founded startups raise VC through workshops, 1-on-1 coaching, legal clinics, communications and speech coaching and more. The accelerator, sponsored by Trilogy Equity Partners, kicked off at the end of August and will culminate with a private demo day with VCs in

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Jack Ma says he isn’t about to retire from Alibaba but is planning a gradual succession


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Reports of Jack Ma’s impending retirement are greatly exaggerated, it seems. Ma, the co-founder and executive chairman of Alibaba, has pushed back on claims that he is on the cusp of leaving the $420 billion Chinese e-commerce firm.

The New York Times first reported that the entrepreneur plans to announce that he will leave the firm to pursue philanthropy in education, a topic he is passionate about — Ma is a former teacher. But that news was quickly rebutted after Ma gave an interview to the South China Morning Postthe media company that Alibaba bought in 2016 — in which he explained that he plans to gradually phase himself out of the company through a succession plan.

When reached for comment, Alibaba pointed TechCrunch to the SCMP report which claims Ma’s strategy will “provide [leadership] transition plans over a significant period of time.”

In order words, Ma isn’t abruptly leaving

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Is China’s digital silk road going to pave over Silicon Valley?


This post is by Jonathan Shieber from TechCrunch


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Over the past 20 years, China has now grown into one of the largest consumer technology markets, with thousands of startups and funding rivaling Silicon Valley.

In 2018, Chinese entrepreneurs are seeking to expand their businesses beyond borders, establish international operations, and become global companies by listing on exchanges including the NASDAQ and NYSE.

More than ever Chinese entrepreneurs are confident in their ability to create a unicorn thanks to China’s digital transformation and its leading innovations in international markets.

Digital transformation through new native apps and services make scaling easier

Despite the talent war between China and the U.S. and large growing domestic markets, Chinese chief executives dream of successfully entering the U.S. Market. There is now global competition to attract Chinese startups to list on exchanges around the world. With a growing

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