Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.
But enough about all of that, let’s get into the news. First, a rapid-fire look at some recent items:
- Thumbtack is raising a Series H at a flat valuation.
- Bird is acquiring Scoot, which is unsurprising and probably smart.
- Google is buying Looker and we don’t really have much to say about it other than its linear funding history is picture-perfect.
- And Mirror, the bike-free Peloton cognate, is raising money at a higher valuation.
From there we turned to four material topics. First up, the Peloton IPO news.
Everyone’s favorite fitness tech company is going public. We were expecting this; still, we’re excited. For now, all we have is a lousy press release announcing the IPO. Sit tight, the S-1 will come soon enough.
Next, we turned to a topic near and dear to the heart of this show: SoftBank’s Vision Fund. The second Vision Fund, to be precise. Rumors indicate the folks behind the first Vision Fund are having a harder time than expected nailing down new money for a sophomore vehicle.
If the second Vision Fund doesn’t come to be, what happens to late-stage startups? Those folks are dependent on huge chunks of cash and had gotten used to a new normal: large, late-stage funds doling out IPO-sized rounds to companies still too immature to go public. Without the promise of SoftBank’s money, might we see an uptick in IPOs? Or an increasing number of late-stage companies floundering for capital? Will everything fall apart?
Speaking of messes, the folks behind Social Capital that got left behind when their venture firm became a family office are back with something new. Tribe Capital is raising a $150 million fund. Kate detailed the firm here, but here’s the TL;DR: Tribe has hired a bunch of former Social Capital partners and they are essentially rebuilding Social Capital sans Chamath Palihapitiya.
Finally, the pace at which female-founded startups are reaching unicorn status is accelerating, big time. That’s good news. If the speed of new, female-founded unicorn creation continues at this pace, we’re in for some record results.
Oh and lastly, if you have a suggestion regarding who should come on Equity as a guest this summer, we’re taking tips at firstname.lastname@example.org. Let us know.