Morning Report: Uber is back to bad news today. So much for a narrative change.
Whether intentionally designed to shift the conversation surrounding its operations or not, Uber’s recent disclosure-driven press cycle focusing on its GAAP revenue growth and non-GAAP losses didn’t last very long.
The press push, led by a set of notable list of financial revelations to Bloomberg, generated a different sort of headline than Uber has recently endured. Uber’s public narrative recentered on its rapid growth and stubborn losses—if temporarily.
The company likely preferred the top line chatter over the bottom line fretting, but after the popular international company’s press coverage year-to-date, even deficit-squawking must have felt like a break.
And, speaking of breaks, here’s TechCrunch’s own Megan Rose Dickey from this morning:
Dickey goes on to note: “In the past few months, a gazillion people have left Uber.” This was tempered slightly to allow that a “gazillion” may be “bit of an exaggeration.”
The only thing wrong there is that her use of “bit” may be an exaggeration.
From the Crunchbase Daily:
Cloudera going public at lowered valuation
- Cloudera, the enterprise big data unicorn on the cusp of going public, has set a preliminary price range for its shares at a valuation much lower than its prior private funding round. At the proposed range of $12 to $14 a share, Cloudera will be worth up to $1.8 billion, down from the $4.1 billion valuation it had in 2014, TechCrunch reports. The share price gets finalized the night before Cloudera makes its public debut, which is expected later this month.
Reltio raises $40M for data management
- Data management platform provider Reltio announced that it has raised a $40 million Series C round led by New Enterprise Associates. The new round brings total funding to date for the Silicon Valley-based company to more than $70 million.
Open source deals accelerate this year
- This year is shaping up as a busy one for open source software funding, according to a Crunchbase News analysis of first quarter investments. At least 13 companies have closed rounds, collectively raising over $370 million so far this year. The brisk funding environment marks a turnaround from 2016, when open source investment contracted.