Venture Capital

For Binary Capital’s investors, a public apology may fall short

 In May of last year, venture capitalist Justin Caldbeck of Binary Capital tweeted: “Big believers in ‘addition by subtraction’ for company culture. Bad apples impact others, and rest of team will thank you when they’re gone.” We may never know what company Caldbeck was referencing, but certainly, his messaging seems ironic in light of a detailed report about his… Read More

Female founders accuse VC Justin Caldbeck of making unwanted advances

 Yesterday The Information reported on allegations made by half a dozen women working in the tech industry who say they have faced unwanted and inappropriate advances from Silicon Valley venture capitalist, Justin Caldbeck, co-founder and managing...

As Uber’s value slips on the secondary market, Lyft’s is rising

 It’s been happening for months. The value of Uber’s shares has been falling on the secondary market, hammered by a barrage of press attention paid to its real and perceived misdeeds. That slip is widely seen as the reason Uber investors strong-armed CEO Travis Kalanick out of his role as CEO on Tuesday night. As numerous sources confirmed to us yesterday (and The Information… Read More

Kalanick is out, but Uber’s VCs royally screwed up, too, say industry watchers

 Travis Kalanick, who last night resigned from his post as CEO of ride-share giant Uber, has taken the blame for the company’s very long list of problems, from allowing a culture of sexual harassment to thrive, to skirting the law with its Greyball program, to mishandling the medical files of a customer raped by one of the company’s drivers (for starters). But many view the VCs… Read More

Growbots raises $2.5M for its machine learning-based sales automation platform

 Growbots uses machine learning to provide sales teams with the right leads to kickstart their outbound sales process. The service, which argues that its product can save each member of a sales team a few days of work every month, today announced that it has raised a $2.5 million funding round from Buran VC, Lighter Capital and a number of angel investors. This brings the company’s… Read More

Pebble founder Eric Migicovsky and Airbnb growth lead Gustaf Alstromer join Y Combinator

 Y Combinator is officially adding three new team members to its roster this morning. Gustaf Alstromer, formerly product leader of Airbnb’s growth team, is joining YC as a partner. Meanwhile Pebble founder Eric Migicovsky is taking a visiting partner role and Jocelyn Robancho is coming on board to assist with organizing YC’s startup batches. Though Alstromer and Migicovsky… Read More

Andreessen Horowitz Gets a New General Partner in Jorge Conde

 Andreessen Horowitz is making an even bigger push into healthcare IT, bringing aboard serial entrepreneur Jorge Conde as a general partner. Conde, who officially starts in September, has spent the last 15 years working largely in genomics, includ...

Qunar co-founder Fritz Demopoulos says startup success in China requires a 10-year commitment

 Fritz Demopoulos, who co-founded Chinese travel portal Qunar and now makes early-stage startup investments through Queen’s Road Capital, said that if he had a single piece of advice for founders looking to pursue their “China dream,” it boils down to one word: “Commitment.” Demopoulos was interviewed on-stage at TechCrunch Shenzhen, which we organized with TechNode. Read More