Sunday, March 12, 2023

Deel makes over $120M of its own cash available to support customers affected by SVB crisis

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Global payroll provider Deel plans to provide $120 million of its own cash off its balance sheet to support startups’ payroll operations in the wake of Silicon Valley Bank shutting down. It has teamed up with Andreessen Horowitz (a16z) and Y Combinator – both of which are investors in Deel – to offer the support […]

Deel makes over $120M of its own cash available to support customers affected by SVB crisis by Natasha Mascarenhas originally published on TechCrunch

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Silicon Valley Bank’s depositors will be fully protected, according to the Federal Reserve

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The Federal Reserve issued a joint pair of statements on Sunday with one clear message: Silicon Valley Bank’s depositors, both insured and uninsured, will receive help in a manner that will “fully protect” all. Depositors, the statement reads, “will have access to all of their money starting Monday, March 13. No losses associated with the […]

Silicon Valley Bank’s depositors will be fully protected, according to the Federal Reserve by Natasha Mascarenhas originally published on TechCrunch

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Sam Altman, Vinod Khosla say they’ll personally loan cash to startups in the wake of SVB collapse

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Two of tech’s biggest entrepreneurs, OpenAI CEO Sam Altman and storied venture capitalist Vinod Khosla, are offering personal capital to startups on the brink of SVB collapse as their money remains locked up at Silicon Valley Bank. The bank, which was shut down and taken over by regulators on Friday, is involved with nearly half […]

Sam Altman, Vinod Khosla say they’ll personally loan cash to startups in the wake of SVB collapse by Natasha Mascarenhas originally published on TechCrunch

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As the SVB auction continues, the sale of its UK arm bounces between potential suitors

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In the US today, The Federal Deposit Insurance Corp. continued the auction process for the beleaguered Silicon Valley Bank, with final bids due by Sunday afternoon, according to Bloomberg. Any agreed sale may not be known until late Sunday, if at all. It’s still possible that no deal will be reached and the bank will […]

As the SVB auction continues, the sale of its UK arm bounces between potential suitors by Mike Butcher originally published on TechCrunch

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FDIC auction for SVB assets said to be underway

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An auction for the remaining assets of the failed Silicon Valley Bank is reportedly underway, with final bids due this afternoon and a result potentially arriving late Sunday, according to Bloomberg. Bloomberg says that the U.S. Federal Deposit Insurance Corp. (FDIC), which stepped in and shut down SVB on Friday as it was experiencing an unprecedented […]

FDIC auction for SVB assets said to be underway by Darrell Etherington 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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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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