Equity Monday: Byju's raises more money, somehow, as tech stocks fall

Equity

TechCrunch

News, Business, Entrepreneurship, Business News, Technology

4.2 • 372 Ratings

🗓️ 4 October 2021

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

This is Equity Monday, our weekly kickoff that tracks the latest private market news, talks about the coming week, digs into some recent funding rounds and mulls over a larger theme or narrative from the private markets. You can follow the show on Twitter here. I also tweet. Sorry that the show is so delayed today, it's utterly my fault. Regular service returns Wednesday, and we'll make to not be late on a Monday again this year! Here's what we got into on the show: Tech shares are falling in America in a larger domestic selloff -- but once again we're seeing high-valued technology stocks lose the most ground. Software companies are having a particularly rough morning. The Facebook whistleblower situation remains the biggest news item in the technology world this morning, dominating aggregators and conversation. Precisely what comes next isn't clear, I reckon, but Facebook shares haven't lost enough ground yet to be a worry for the firm; that could change with another few days' declines, however. What else was on our mind? Apple's epic gaming profits, new AI guidelines from China, and data concerning just how much money semiconductor startups are raising. It's more, but is it enough? Byju's raised $300 million, this time at an $18 billion valuation. Its upcoming IPO will help set the tone for global edtech valuations. Ladder raised $100 million, proving that the insurtech market is still active. Sure, shares of public insurtech startups have taken a pounding in recent quarters, but there's still plenty of private capital ready to make bets on the market. And the Vision Fund 2 is even more Vision Fund-y than we anticipated! Chat soon! Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	All right good morning everybody. I'm very sorry that we are so late this morning.
0:16.4	Of course this is Alex, this is Equity Monday and we are just a little bit tardy because I had a couple
0:20.9	of medical appointments this morning. All routine, everything is good, but an absolute time sucks still.
0:25.9	Glad to be here.
0:26.8	Starting off with a quick markets update, stocks are largely down in the United States today
0:31.6	with tech stocks taking an even bigger hit than more general equities.
0:35.3	This subset of tech stocks we care about the most software shares while they're down even more
0:40.3	and they are now in a technical correction if I'm doing my sums correctly.
0:43.6	Now a correction is a 10% decline from recent highs, whereas a bare market is a 20% decline.
0:48.7	So we've passed that first threshold, let's see if we hit the second.
0:51.7	Looking around the world, European stocks were up just a smidgen.
0:55.0	Asian stocks generally fell and cryptos have been flat in the last 24 hours.
0:59.0	All right, so the biggest news this morning is still the unmasking of the
1:05.4	Facebook whistleblower that happened over the weekend. This person leaked a
1:08.8	trove of documents that included the social giant's own research into its own products.
1:13.4	Very interesting stuff. If you haven't read it yet, you're a little behind, but don't worry,
1:17.5	you can catch up. There's quite a lot to catch up on, but it's all fascinating and elucidatory.
1:22.0	So enjoy yourself. Her name is Francis
1:24.2	Houghgan. She gave an interview to 60 minutes here in America. It's kind of a
1:27.4	news interview program with the long history. Her revelations have been a series of
1:32.0	bombshells though I do understand that that phrase has lost a lot of its impact in the last couple years.
1:37.0	We have used it more than we perhaps should, but in this case, bombshells, it kind of fits.
	...

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