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Equity

Equity Tuesday: Everyone is raising money at the same time

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2372 Ratings

🗓️ 1 June 2021

⏱️ 8 minutes

🧾️ Download transcript

Summary

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines. This is Equity Tuesday, 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 and myself here. We are back from a long weekend here in America. But not break here in the States can stop the flow of global tech news. So, here's the rundown: The Weekend: Tata bought BigBasket, setting up a fascinating ecommerce war in India. China is cracking down on edtech companies, leading to an IPO freeze. And Wejo is going public via a SPAC. You can read its investor deck here. This Morning: The are a zillion funding rounds in Europe and globally this morning, the start of what could be a super busy week's cycle. Private Equity is buying Cloudera, which is a surprise. Nio had chip shortage issues that impacted its delivery cadence. The Chinese EV company does expect to meet its Q2 delivery goal, however. Funding Rounds: Truebill raised $45 million. Chipper Cash raised $100 million. Zenyum raised $40 million. WeFox raised $650 million. Malt raised $97 million. Sennder raised $80 million. idwall raised $38 million. Belvo raised $43 million. And that was not even close to all the big ones. Riff: Late last week we missed the Sprinklr filing. You can read it here. Quite a number of VCs have money riding on the IPO. Welcome back, America, to the week. It's nice to see you, everyone else. Maybe Robinhood will file this week. 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

Click on a timestamp to play from that location

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's start the show. Good morning and welcome to Equity's Monday episode. Of course it is Tuesday because of the American holiday.

0:31.0

This is our weekly primer where we catch up on the news and as always

0:34.5

explore the numbers behind the headlines. Today is June 1st, the final month of the second quarter of

0:40.2

2021 and yes that does mean it is earning season time in just one month

0:46.4

the US market is set to rise when it opens today Asian stocks were mixed while

0:50.9

European shares rose.

0:52.5

Bitcoin has been largely flat in the last 24 hours,

0:55.4

while Ethereum has been up by about 7% in the last day.

0:58.9

All right, look, everyone, despite the fact that it was a holiday weekend here in the US,

1:06.0

quite a lot happened over the last couple of days.

1:08.8

So picking from a very deep stack of news, here is what you need to know.

1:13.0

Tata, a huge Indian corporation, bought a majority stake in Big Basket,

1:18.0

which competes with other online grocers in the country,

1:20.0

so now we shall see Tata go up against the likes of Amazon and Walmart to help

1:24.4

control e-commerce in the very large and important digital market.

1:28.0

Also Bloomberg reported this weekend that a recent change in policy regarding

1:31.6

Ed Tech in China has, quote,

1:33.6

brought several potential mega IPOs to a screeching halt, end quote.

1:37.9

It appears that China intends to apply more regulatory pressure

...

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