Good news for Rubrik, bad news for TikTok, and medium news for Early Stage startups You don't have to be venture backed to be successful Rubrik’s strong IPO pricing and warm reception by the public markets after its listing add more weight to the perspective that the public markets are …...Read More

Darktrace is set to go private in a deal that values the U.K.-based cybersecurity giant at around $5 billion. A newly-formed entity called Luke Bidco Ltd, formed by private equity giant Thoma Bravo, has tabled an all-cash bid of £6.20 ($7.75) per share, which represents a 44% premium on its …...Read More

The National Highway Traffic Safety Administration closed a long-standing investigation into Tesla’s Autopilot driver assistance system after reviewing hundreds of crashes involving its misuse, including 13 that were fatal. At the same time, NHTSA is opening a new investigation to evaluate whether the Autopilot recall fix that Tesla implemented in …...Read More

Ultra-fast fashion ecommerce giant Shein will be subject to an additional layer of governance rules targeted at very large online platforms (VLOPs) under the European Union’s Digital Services Act (DSA), the Commission announced Friday. Shein had reported passing an average of 45 million monthly users in the region — which …...Read More

Global Founders Capital, the Berlin-based early stage VC firm with close ties to the German startup factory Rocket Internet, is going to become the venture arm of Rocket Internet. The VC previously raised two $1 billion funds and, just a few years ago, its name appeared in dozens of deals …...Read More

xAI, Elon Musk’s OpenAI rival, is closing on $6B in funding and X, his social network, is already one of its shareholders xAI, Elon Musk’s 10-month-old competitor to the AI phenom OpenAI, is raising $6 billion on a pre-money valuation of $18 billion, according to one trusted source close to …...Read More

Goldman Sachs said in a report late Thursday that Indian food delivery giant Zomato’s quick commerce arm Blinkit is now more valuable than its core food delivery business, as per the bank’s sum-of-the-parts analysis. The investment bank estimates Blinkit’s implied value at 119 Indian rupees per share ($1.43) or about …...Read More

The FTC’s ban on noncompete clauses could be good for startups. But it also might be struck down. The Federal Trade Commission voted 3-2 to ban the use of most noncompete agreements on Tuesday. This ruling means companies can’t require their employees, that aren’t senior executives, to wait a set …...Read More

Norwest Venture Partners, a 65-year-old firm backed solely by Wells Fargo, has raised its 17th fund at $3 billion. That’s a noteworthy number, given that NVP last raised the same amount in December 2021. That was the peak of the venture boom, and at that time, the firm said it …...Read More

Space and defense startup True Anomaly has laid off around 25% of its workforce and cancelled its summer internship program, TechCrunch has learned. “With our rapid growth over the past two years, we looked at every aspect of our company to make sure we are laser focused on our goals …...Read More