Yahoo Finance Private equity giveth, and private equity taketh away
Hello and welcome back to Equity, TechCrunch’s venture-capital-focused podcast, where we unpack the numbers behind the headlines.
Natasha and Alex and Grace and Chris gathered to dig through the week's biggest happenings, including some news of our own. As a note, Equity's Monday episode will be landing next Tuesday, thanks to a national holiday here in the United States. And we have something special planned for Wednesday, so stay tuned.
OK! Here's the rundown from the show:
Apollo completed its takeover of
Verizon Media GroupYahoo: Yep, we have new bosses, and we have feelings about it. But mostly the TechCrunch news was a useful segue to Drift's majority exit to Vista Equity Partners at a price that made the Boston-based startup a unicorn. Terms were not disclosed, sadly, but Drift's revenues looked strong going into the transaction. That left us with questions.Then we chatted about Databricks, which raised a small country's GDP in a single funding round this week, valuing the data-and-ML company at a staggering $38 billion valuation. Why isn't Databricks going public? Because it doesn't have to, mostly.
Hum Capital believes the future of startup fundraising requires a return to old school Wall Street. The startup helps founders and investors navigate the overly fragmented market these days and just raised millions to scale this service.
Form there we dug into two IPOs, including the very interesting story of Toast, another Boston-based company, and Allbirds. The Allbirds offering was less exciting from a numerical perspective, though Natasha and Alex both like their shoes from the company.
And to close out, we discussed how Compound Foods wants to save the planet by making coffee sans beans. Which we are willing to try as soon as we can.
That's a wrap from us for the week! Keep your head atop your shoulders and have a great weekend!
Equity drops every Monday at 7:00 a.m. PDT, Wednesday, and Friday morning at 7:00 a.m. PDT, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts.
