Yandex takes a big hit to get rid of Russian assets

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 5 February 2024

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

This is our Monday show, in which we look back at the weekend and the week ahead. A big thanks to Maggie for stepping back into the Equity seat while Theresa is out today. Here’s what we got into: Stocks are mixed around the world as investors digest the possibility of high interest rates persisting for longer. Crypto price movements seem to have eased in recent weeks in the wake of bitcoin spot ETF launches. Yandex’s parent to exit Russia: At a huge cost, it turns out. Given Russian sanctions, owning tech assets inside the country is not a good proposition. But when you sell, you will take more than a haircut. Everbridge is going private: For $1.5 billion, we hasten to add. Not a bad price bump for the 2016-era IPO, but still far from the value it commanded in 2021. And from Startup Land, Wonder Ventures has two new funds, Naboo raised $8 million, and ProducePay put together $38 million to tackle food waste. We closed out with this fascinating CNN story about how a finance worker was scammed out of $25M after a deepfaked conference call. We’ll be back on Wednesday morning! For episode transcripts and more, head to Equity’s Simplecast website. Equity drops at 7 a.m. PT every Monday, Wednesday and Friday, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. TechCrunch also has a great show on crypto, a show that interviews founders and more! 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, the Tech Runch Podcast about the business of
0:16.4	startups where we unpack the numbers and the nuance behind the headlines.
0:20.4	This is Alex good morning, welcome to the show. Today is February 5th,
0:25.2	2004 and on our Monday podcast we take a look back at the weekend and then a look at the
0:31.4	week that is to come.
0:33.0	A small programming note, a big thanks to Maggie Stamets,
0:36.0	who is stepping in for Theresa today on the production side.
0:39.0	Theresa is out.
0:40.0	We'll have her back later this week,
0:41.0	but as always, thanks to Mags for being our backup.
0:44.0	On the show today, we have stocks. It is a big, big earnings week. I have all you need to know coming up soon.
0:50.8	Then in the realm of crypto I have pulled out the current scorecard of the
0:54.9	Bitcoin Spot EDF race. Then in the news bucket we have Yandex's parent company leaving Russia.
1:01.3	Everbridge is going private, very interesting, Wonder Ventures has new
1:05.4	capital, I have several funding rounds and then to close out just how many AI
1:10.1	startups are there really out there? AI startups
1:21.0	starting off as we always do with a look at the world of money and that means stocks if you spend globe, shares are mostly lower in Asia today. They are mixed in Europe and set to fall here in the US at the open.
1:30.0	What's driving the narrative? Well, interest rates and comparative economic strength.
1:35.0	That and whatever the heck is going on with China's economy are leading the world yet again this morning.
1:41.0	Now on the earnings front, it is going to be a packed week. I'm
1:44.8	going to give you all the names and then tell you what to care about. On Monday we
1:49.0	will hear from Palantier and Chegg. Tuesday is Spotify, Cognizant, Snap, Freshworks, Tenable, and Sonos.
	...

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