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Dan Primack / Axios:
Sources: FanDuel raising between $30M and $40M in new financing from existing investors; deal will be structured as a convertible note   —  Fantasy sports site FanDuel is in the process of raising between $30 million and $40 million in new financing from existing investors, Axios has learned.
Sep 14, 2017, 12:15 AMIn context
Dan Primack / Axios:
Ancestry.com CEO Tim Sullivan steps down and will transition into a chairman role on October 1; Ancestry's IPO is now delayed   —  Tim Sullivan is stepping down as CEO of geneology site Ancestry.com, which has been gearing up to go public.  The company was most recently valued at $2.6 billion.
Sep 12, 2017, 10:55 AMIn context
Dan Primack / Axios:
Dara Khosrowshahi is officially Uber CEO, according to an email from company's board to employees; Travis Kalanick says he “couldn't be happier”   —  Uber's board of directors this evening sent an email to company employees, saying that it voted unanimously to name current Expedia boss Dara Khosrowshahi as its next CEO.
Aug 29, 2017, 10:40 PMIn context
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

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