Last time we did a long-form piece of this magnitude with our Google Strategy Teardown, we definitely saw a stampede in the first days, but this was off the charts.
The History of CVC is a 9,000+ word narrative on the origins, struggles/tensions, hits and misses of CVC. It covers fascinating stories like General Motors’ days as a startup backed by the Du Ponts, the rise and fall of Xerox Technology Ventures, the painful billion-dollar CVC-related losses in the dot com crash, and Microsoft’s controversial bet on Facebook.
5: This week Google acquired Kaggle, an online service that hosts data science and machine learning competitions, and AppBridge, a data migration startup. This puts Google at 5 acquisitions in the first quarter of 2017, with a few weeks to go. For real-time updates, check out our Google Acquisition tracker.
$115M: The amount raised by Alignment Healthcare, a population health management company, from Warburg Pincus. Next week, we’ll be sending out the first edition of the CB Insights Digital Health Insights newsletter, covering a range of digital health tech topics from financing to active investors to notable startups in the space, and more. Sign up here to get the newsletter.
1914: Corporate venture capital dates back at least to 1914 when Pierre S. du Pont — president of chemical and plastics manufacturer DuPont — invested in General Motors. In our History of CVC report released this week, we look at the corporate venture capital space from its origins to present-day. Digging into the history, it’s clear that the tensions and contradictions surrounding CVC have been there from the start. Read about it.
$400M: Grocery delivery unicorn Instacart raised $400M in Series D financing from investors a16z, Kleiner Perkins Caufield & Byers, FundersClub, and Sequoia Capital (a top investor in unicorn companies), among others. The company is now valued at $3.4B, up from its previous $2B valuation.
$836M: This week, Evan Spiegel received his bonus for taking Snap public. Spiegel’s bonus, in the form of 37 million shares of Snap stock or 3% of the total, was worth roughly $836M at today’s price of ~$22.60. The move was intended to “motivate him to continue growing our business and improving our financial results,” according to the IPO paperwork, as reported by Recode.
$31B: Airbnb closed a $1B financing round this week. The company initially raised $555.5M in Series F financing last August from investors including FirstMark Capital and Technology Crossover Ventures. This week, Airbnb raised a second $447.9M tranche of Series F funding, reportedly bringing its valuation to $31B.
⅓ mile: Hyperloop One, a company that is focused on creating a transportation system that can drastically cut down travel times, shared images of its first testing site known as “DevLoop,” located in Nevada. The test track will extend about a third of a mile and measure 3.3 meters in diameter ( ~11 feet). Hyperloop One is one of the 36 companies in our 2017 Game Changers report, comprised of startups with “world-changing” potential.
$40M: Farmers Business Network, which allows farmers to anonymously share data about everything from seed performance to chemical pricing, raised $40M in Series C funding this week. Investors in the round included Google Ventures, Kleiner Perkins Caufield & Byers, and Acre Venture Partners, among others. The company is listed on our agtech market map, which features a number of startups that will be mentioned in our Agriculture and Farming Tech briefing next Thursday, March 16th — sign up here.
~ 4 feet: State Street Global Advisors installed a bronze statue of a little girl standing across from Wall Street’s charging bull sculpture. The “Fearless Girl” is approximately 4-feet tall and is intended to promote gender diversity at companies, “pushing for more women on boards and in leaderships roles.”
$850: In Japan, many restaurants pay up to $850 a month to rent replicas of common dishes such as hot dogs or grilled fish, in order to display them to prospective diners. The replicas are meant to give prospective diners a 3D view of a dish, including its real size, which photographs don’t convey as well. An article published this week estimates “fake food” is a $90M a year industry in Japan, of which one firm, Fake Food Hatanaka, holds a ~50% market share. 3D printing hasn’t yet eroded what is still a largely artisan industry, according to the article.