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Dan Primack / Axios:
In Q2, Uber had gross bookings of $8.7B, up 17% QoQ, revenue of $1.75B, up from Q1's $1.5B, net loss of $645M, down ~9% QoQ, 14% YoY; global trips rose 150% YoY   —  Uber's gross bookings were up 17% in the second quarter, the number of trips taken rose 150% in the past year and its adjusted loss fell …
Aug 23, 2017, 4:08 PMIn context
Dan Primack / Axios:
Shervin Pishevar and two other Uber investors demand that Benchmark, which sued Travis Kalanick for fraud, give up its Uber board seat and sell its Uber shares   —  A group of Uber investors has asked that venture capital firm Benchmark step down from the company's board of directors, Axios has learned.
Aug 11, 2017, 6:20 PMIn context
Dan Primack / Axios:
Benchmark sues Kalanick for fraud, wants to invalidate 2016 stockholder vote, which would eliminate 3 board seats for Kalanick appointees, including Kalanick's   —  The battle between Benchmark Capital and Travis Kalanick just went nuclear, with the venture capital firm suing the former Uber CEO for fraud …
Aug 10, 2017, 3:20 PMIn context
Dan Primack / Axios:
Memo: SoundCloud asks investors to approve reorganization proposal; if accepted, new $170M round will close Friday at pre-money valuation of $150M   —  Tomorrow is do or die for SoundCloud, the struggling streaming music company that recently laid off 40% of its staff despite having raised over $230 million in venture capital.
Aug 10, 2017, 1:45 PMIn context
Dan Primack / Axios:
Greylock COO Tom Frangione out, source says due to “inappropriate” consensual relationship, just weeks after partner Reid Hoffman proposed a “Decency Pledge”   —  Tom Frangione has stepped down as chief operating officer of Greylock Partners, after the Silicon Valley …
Aug 3, 2017, 11:30 AMIn context
Dan Primack / Axios:
Sources: Uber board member views on Whitman as CEO: Kalanick, Huffington not in support; Cohler, Trujillo, Graves, Camp in favor; Martello and Rumayyan, unclear   —  Uber's board of directors is expected to meet tonight, in order to discuss both its vacant CEO position and a possible investment from Japan's SoftBank Group.
Jul 27, 2017, 6:40 PMIn context
Axios:
Sources: Y Combinator raising up to $1B for second Continuity fund, which will merge with early-stage investment program, and won't be limited to YC companies   —  Silicon Valley startup accelerator Y Combinator is raising up to $1 billion for a new venture capital fund, Axios has learned from multiple sources.
Jul 21, 2017, 10:55 AMIn context
Dan Primack / Axios:
In email sent to all portfolio CEOs, Binary Capital's managing partner Jonathan Teo blames “corrupted” media for his resignation, which LPs have yet to accept   —  Binary Capital co-founder Jonathan Teo slammed the media, investor leaks and at least one of his portfolio companies …
Jul 9, 2017, 10:25 PMIn context
Dan Primack / Axios:
Dave McClure resigns as a general partner of 500 Startups, following admission of inappropriate behavior toward women; he had already stepped down from CEO role   —  Dave McClure has resigned as a general partner of funds managed by 500 Startups, the seed investment group he founded in 2010, Axios has learned.
Jul 3, 2017, 2:21 PMIn context
Dan Primack / Axios:
Source: Lightspeed asked Stitch Fix CEO to sign non-disparagement agreement after she complained about then-board member and Lightspeed partner Justin Caldbeck   —  When Stitch Fix founder Katrina Lake told Lightspeed Venture Partners, an early investor in her company, that (then) …
Jun 27, 2017, 8:50 PMIn context

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