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May 29, 2019

The Crunchbase Unicorn Leaderboard is back, now with a record herd of 452 unicorns

We are very pleased to announce that the new and improved Crunchbase Unicorn Leaderboard re-launched today after nearly a year’s absence from TechCrunch.

Venture investors did a lot of handwringing in the past year over rising valuations, but that did not slow the unicorn juggernaut, as 2018 outstripped all previous years in terms of the number of unicorns created and venture dollars invested. Indeed, 151 new unicorns joined the list in 2018 (compared to 96 in 2017), and investors poured more than $135 billion into those companies, a 52% increase year over year and the biggest sum invested in unicorns in any one year since unicorns became a thing. [...]

 
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May 25, 2019

Growth, Kubernetes, rocket launches, gender in tech, and more Luckin Coffee

Housekeeping & Extra Crunch 20% event discount reminder Extra Crunch will not be publishing on Monday due to the Memorial Day holiday in the United States. Publishing will resume as normal on Tuesday. Reminder: if you are an annual member of Extra Crunch, your membership includes a 20% discount on event tickets and exhibitor packages. If you want to claim a discount for one of our upcoming events, such as Sessions: Mobility, Sessions: Enterprise or TechCrunch Disrupt SF, just send an email to [email protected] and our customer service team will get you all setup. We have pushed out a product update to the Extra Crunch landing page. Now, you can see a featured list of [...]
 
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May 25, 2019

Startups Weekly: VCs are drunk on beverage startups

Hello and welcome back to Startups Weekly, a newsletter published every Saturday that dives into the week’s most noteworthy venture deals, fundraises, M&A transactions and trends. Let’s take a quick moment to catch up. Last week, I wrote about an alternative to venture capital called revenue-based financing and before that, I jotted down some notes on one of VCs’ favorite spaces: cannabis tech. Remember, you can send me tips, suggestions and feedback to [email protected] or on Twitter @KateClarkTweets.

This week, I want to share some thoughts — questions, rather — on beverages. Just as my inbox has been full of cannabis-related pitches, [...]

 
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May 24, 2019

Luckin leaves bitter aftertaste, now trading below IPO price

In the first few days following Luckin Coffee’s initial public offering, the stock chart for LK looked like a roller coaster. Now it’s looking more like a freefall.

The Chinese Coffee chain successfully completed its highly anticipated offering roughly a week ago, raising over $550 million after pricing at $17 per share, the high end of its $15-$17 per share range.

Luckin was met with a warm reception from the markets, with the stock skyrocketing roughly 20% to a greater than $5 billion market cap in its first day of trading. However, concerns over the company’s lofty valuation, major cash burn and uncertain path to profitability have caused the [...]

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