Paytm’s annual loss doubles to $549M

India’s financial services firm Paytm raises $1B

Paytm said on Monday it has raised $1 billion in a new financing round as the Noida-headquartered firm, which once dominated the local mobile payments market, attempts to fight back giants Google, Walmart’s PhonePe, and soon-to-arrive Facebook. The company said the new financing round was led by U.S. asset manager Read more…

VTEX, an e-commerce platform used by Walmart, raises $140M led by SoftBank’s LatAm fund

VTEX, an e-commerce platform used by Walmart, raises $140M led by SoftBank’s LatAm fund

E-commerce now accounts for 14% of all retail sales, and its growth has led to a rise in the fortunes of startups that build tools to enable businesses to sell online. In the latest development, a company called VTEX — which originally got its start in Latin America helping companies Read more…

This ride-hailing PR pitch shows platforms and digital campaign ‘dark arts’ want democracy to be pay to play

This ride-hailing PR pitch shows platforms and digital campaign ‘dark arts’ want democracy to be pay to play

A UK PR firm pitching to run an account for Ola has proposed running a campaign to politicize ride-hailing as a tactic to shift regulations in its favor. The approach suggests that, despite the appearance of ride-hailing platforms taking a more conciliatory position with regulators that are now wise to Read more…

Sam Altman’s bet against Slack

Sam Altman’s bet against Slack

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. This week Kate and Alex broke the discussion into two main themes. The first dealt with early-stage companies, and the second, as you can imagine, later-stage affairs. Don’t worry, we don’t get to Read more…

Growth is out, profitability is in

Growth is out, profitability is in

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. This week Kate and Alex held the reins as a duo (check out our chat with Greylock’s Sarah Guo from last week here) to dig into an enormous raft of news. And don’t Read more…

We Company adds a director, ditches its $5.9 million naming deal with its CEO, remains a governance nightmare

WeWork confirms an up to $8 billion lifeline from SoftBank Group; names new executive chairman

Confirming earlier reports, The We Company and SoftBank Group agreed to a new capital infusion which will see SoftBank committing $5 billion in new financing and issuing a tender offer for another $3 billion in buybacks for shareholders. The company also said it would accelerate an existing commitment to put Read more…

Report: SoftBank is taking control of WeWork at an ~$8B valuation

Report: SoftBank is taking control of WeWork at an ~$8B valuation

WeWork, once valued at $47 billion, will be worth as little as $7.5 billion on paper as SoftBank takes control of the struggling co-working business, CNBC reports. SoftBank, a long-time WeWork investor, plans to invest between $4 billion and $5 billion in exchange for new and existing shares, according to Read more…

davidestrada

Bird’s chief legal & policy officer is leaving the company

Bird, the $2.5 billion electric scooter business, is losing its chief legal and policy officer. David Estrada, who was hired last year from Kitty Hawk, is joining another mobility company, SoftBank-backed Nuro. A spokesperson for Bird tells TechCrunch Estrada is leaving the Santa Monica-based company to be closer to his Read more…