Saturday, March 11, 2023

Brex CEO is trying to raise over $1 billion in a weekend for SVB-related bridge loans

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Brex CEO Henrique Dubugras is currently working to raise over a billion dollars in a weekend to help fund an emergency bridge credit line that he believes will help startup customers impacted by Silicon Valley Bank’s collapse be able to make payroll next week. Dubugras declined to comment on how much capital has been committed […]

Brex CEO is trying to raise over $1 billion in a weekend for SVB-related bridge loans by Natasha Mascarenhas originally published on TechCrunch

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OK, what is going on with SVB?

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Welcome to Startups Weekly, a nuanced take on this week’s startup news and trends by Senior Reporter and Equity co-host Natasha Mascarenhas. To get this in your inbox, subscribe here. Writer’s note: We’re breaking from our usual formatting this week because there was a once-in-a-generation collapse of one of the biggest banks in the country. […]

OK, what is going on with SVB? by Natasha Mascarenhas originally published on TechCrunch

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On cloud marketplaces, nobody knows you’re a startup

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Enterprise cloud spend is holding up well, but large companies are looking into vendor consolidation. This makes cloud marketplaces an increasingly relevant sales channel for B2B startups.

On cloud marketplaces, nobody knows you’re a startup by Anna Heim originally published on TechCrunch

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SVB contagion: UK arm shuts down, government scrambles and startups brace for the worst

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As of late Thursday night and Friday morning, the fallout from the shutdown of Silicon Valley Bank in the US had reached the shores of the UK and Europe. Yesterday afternoon, the Bank of England sought a court order to place Silicon Valley Bank UK Limited — the UK arm of the US institution — […]

SVB contagion: UK arm shuts down, government scrambles and startups brace for the worst by Mike Butcher originally published on TechCrunch

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Watch Relativity attempt to launch Terran 1…again

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https://www.youtube.com/live/9Tv6pbDCmLk?feature=share Relativity Space is gearing up for its second launch attempt of the Terran 1 rocket, wasting no time after scrubbing the first attempt earlier this week. The company returns to the launch pad at Cape Canaveral with the goal of making history: sending the worlds first majority-3D printed rocket to orbit. The first launch […]

Watch Relativity attempt to launch Terran 1…again by Aria Alamalhodaei originally published on TechCrunch

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For fintechs in 2022, the bigger the exit, the larger the decline in value

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"We're really only beginning to see the ripple effects in the private markets of the 72% drop in valuations we saw in the public markets.”

For fintechs in 2022, the bigger the exit, the larger the decline in value by Mary Ann Azevedo originally published on TechCrunch

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Friday, March 10, 2023

Daily Crunch: Silicon Valley Bank goes bust — regulators take control of $175B+ in deposits

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Hello, friends, and welcome to Daily Crunch, bringing you the most important startup, tech and venture capital news in a single package.

Daily Crunch: Silicon Valley Bank goes bust — regulators take control of $175B+ in deposits by Haje Jan Kamps originally published on TechCrunch

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Silicon Valley Bank is being shut down today by regulators

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Silicon Valley Bank has been closed by regulators, which are now in charge of the bank’s deposits, according to a release sent out by the Federal Deposit Insurance Corporation on Friday. While banking activities in SVB’s 17 branches are closed today, SVB’s operations will resume on Monday – this time, with the FDIC in charge. […]

Silicon Valley Bank is being shut down today by regulators by Natasha Mascarenhas originally published on TechCrunch

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US strengthens tech ties with India but doesn’t seek decoupling from China, Raimondo says

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The U.S. government is not seeking to “decouple” from China, nor is it seeking “technological decoupling,” but Washington “would like to see India achieve its aspirations to play a larger role in the electronics supply chain,” U.S. Commerce Secretary Gina Raimondo said on Friday. On its part, the U.S. signed a memorandum of understanding with […]

US strengthens tech ties with India but doesn’t seek decoupling from China, Raimondo says by Manish Singh originally published on TechCrunch

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Secure messaging apps line up to warn UK’s Online Safety Bill risks web security

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Secure messaging apps are lining up to opposite measures in the UK government’s Online Safety Bill (OSB) they argue will do the opposite of promoting online safety by undermining the robust encryption web users rely upon to safeguard their communications. Meta-owned WhatsApp, the not-for-profit Signal Foundation behind the Signal app, Element, which operates the decentalized […]

Secure messaging apps line up to warn UK’s Online Safety Bill risks web security by Natasha Lomas originally published on TechCrunch

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Prelaunch assembles a pre-seed round to help hardware founders pre-build the right pre-products

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Hardware startups are hard, the saying goes, but it isn’t always obvious why they are hard. One of the core challenges is that it has traditionally been hard to do agile hardware product development – even if you get everything ‘right,’ how do you know that people actually want one of the 20,000 gizmos you so […]

Prelaunch assembles a pre-seed round to help hardware founders pre-build the right pre-products by Haje Jan Kamps originally published on TechCrunch

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The long goodbye at Salesforce continues with more layoffs reported today

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It would be easy to think that when Salesforce announced that it was laying off 10% of the workforce in January that it would let those folks know, and it would be over with, but some employees didn’t learn about their fate until February. It looks like still more are just learning they have been […]

The long goodbye at Salesforce continues with more layoffs reported today by Ron Miller originally published on TechCrunch

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