Equity Monday: Clubhouse, UiPath, and the crypto flash crash
Equity
TechCrunch
4.2 • 372 Ratings
🗓️ 19 April 2021
⏱️ 8 minutes
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Summary
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| 0:00.0 | Equity is brought to you by Extra Crunch, that Prodigious Tech Ranch Paywell you keep running into. |
| 0:05.0 | You can break through that Paywell at a steep discount if you use the promo code Equity. |
| 0:09.0 | If you do, you'll get access to our best stuff and you'll make Equity look really good internally at the same time. |
| 0:13.5 | Enough of that, let numbers behind the headlines. |
| 0:35.4 | This morning I am stuck thinking about the concept of what makes a good venture style bed, |
| 0:39.4 | you know, or investment, and where VC probably is losing its perch. |
| 0:44.0 | More on all of that in a second. |
| 0:46.0 | Let's talk about the weekend. |
| 0:47.0 | All right, so this weekend, the big news was that |
| 0:52.0 | Andresen Horwitz partner Andrew Chin announced that Clubhouse has raised a new round that his firm Tiger DSD and others put capital into. |
| 1:01.0 | The Series C comes just months after the audio chat app, if you will, raised a hundred |
| 1:06.0 | million at a $1 billion valuation. |
| 1:08.4 | Now, we don't actually know how large the ground was, but it's been reported pretty often that it's about a $4 billion valuation |
| 1:15.0 | attached to this round. |
| 1:16.1 | So it's a lot of money. |
| 1:17.1 | It's a lot of money. |
| 1:18.1 | Okay, so why do we care? |
| 1:20.1 | Well, a couple of things. |
| 1:21.1 | One, by pumping more capital into clubhousehouse at a roughly 4X valuation multiple, |
| 1:25.0 | Clubhouse is now so very expensive for other companies to buy |
| 1:28.0 | that it's nearly off the market thanks to its investors. |
| 1:31.0 | Unless of course it stumbles and then it may accept a lower price later on, but a |
... |
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