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Equity

Private equity giveth, and private equity taketh away

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2372 Ratings

🗓️ 3 September 2021

⏱️ 27 minutes

🧾️ Download transcript

Summary

Natasha and Alex and Grace and Chris gathered to dig through the week's biggest happenings, including some news of our own. As a note, Equity's Monday episode will be landing next Tuesday, thanks to a national holiday here in the United States. And we have something special planned for Wednesday, so stay tuned. Ok! Here's the rundown from the show: Apollo completed its takeover of Verizon Media Group Yahoo: Yep, we have new bosses, and we have feelings about it. But mostly the TechCrunch news was a useful segue to Drift's majority exit to Vista Equity Partners at a price that made the Boston-based startup a unicorn. Terms were not disclosed, sadly, but Drift's revenues looked strong going into the transaction. That left us with questions. Then we chatted about Databricks, which raised a small country's GDP in a single funding round this week, valuing the data-and-ML company at a staggering $38 billion valuation. Why isn't Databricks going public? Because it doesn't have to, mostly. Hum Capital believes the future of startup fundraising requires a return to old school Wall Street. The startup helps founders and investors navigate the overly fragmented market these days, and just raised millions to scale this service. Form there we dug into two IPOs, including the very interesting story of Toast, another Boston-based company, and AllBirds. The AllBirds offering was less exciting from a numerical perspective, though Natasha and Alex both like their shoes from the company. And to close out, we discussed how Compound Foods wants to save the planet by making coffee sans beans. Which we are willing to try as soon as we can. That's a wrap from us for the week! Keep your head atop your shoulders and have a great weekend! 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

Hello and welcome back to Equity Techwench's venture capital focused

0:13.2

podcast where we unpack the numbers behind the headlines. My name is Alex and

0:16.8

I am joined today by my BFF and co-pilot Natasha Muscarinas.

0:20.1

Natasha, Natasha, hello Alex, you know what I was thinking about recently.

0:24.0

What's that? It's the fact that we don't do one-on-ones anymore but our one-on-ones are just this

0:28.4

podcast so have they really disappeared? So the tasha used to report to me at

0:34.0

crunch-based news and then I decided that that wasn't very good so we came over here

0:37.9

and now we're just colleagues which is much more fun. But actually our

0:41.1

one-on-ones were kind of like the podcast but with more profanity and

0:44.7

rude jokes.

0:45.7

So you guys get the PG version.

0:47.4

You're welcome.

0:48.4

Lucky that.

0:49.4

We were going to have our dear friend Mary Ann on the show today, but she is off for some family stuff so it is going to be the two of us and we have one packed show so we're looking forward to it.

0:58.4

We're going to kick off with notes about how we've been sold to private equity because that finally happened. Then we're going to talk about private equity because that finally happened.

1:03.4

Then we're going to talk about private equity buying a Boston company that Natasha

1:06.8

and I have both actually visited though at different times.

1:10.0

Then we have a couple of notes on the huge data bricks around from earlier in the week.

1:14.8

We're going to talk about Hum Capital and how startups are raising different types of money.

1:18.7

We have IPO updates from Toast and Allbirds.

1:21.8

It's going to be awesome, really. Let's kick off the

1:24.3

Natasha with our news, the local news, if you will. We no longer work for

...

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