Startups Venture

So Much For A Seasonal Slowdown

Morning Markets: Let’s get caught up from the weekend before the week starts.

So much for a slowdown. Things are hot in startup-landia at the moment, despite December being a traditionally quieter month. Most venture capitalists are recuperating from their regular, grueling hours, startups are trying to meet their Q4 goals, and big company employees mostly want to go home.

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Normal stuff. But this December the private tech market feels hot. I’m getting ahead of the hard numbers, of course, but until our Q4 report comes out in early January you can’t really tell me I’m wrong.

Why does it feel like tech is boiling today, despite this morning’s post-murk in San Francisco? Here’s some stuff that happened since I last wrote to you:

  • Uber files to go public. After Lyft filed, Uber filed. The market is still working out the order here, but it seems that Uber filed a day after its smaller rival. And, per Dan Primack, this wasn’t a snap decision. However, with the firms losing around $1.3 billion Q3 combined, who knows how this is going to go when the S-1s publicly drop and we all get a full look.
  • Viva Republica raises $80 million, reaches $1.2 billion valuation. TechCrunch’s Jon Russell has a great write-up on this, the third Korean unicorn. You need to know about this company.
  • Good Money raises $30 million. This deal (more here from Axios) is fascinating in that the company that is hoping to give away between 40 and 60 percent of its equity just raised a $30 million Series A. How the hell will that work out? 2018, that’s how.
  • G7 raised $320 million. The most recent mega-round brings $320 million to G7, whose trucking platform has now raised about $510 million.
  • Tencent Music hit with fraud lawsuit after updated its IPO filings. We had just bunkered down for the Tencent Music IPO, which looked like good fun until the company was sued for fraud. Unclear if this is going to slow its rollout. The company was supposed to go public pretty soon.
  • Google buys Sigmoid Labs. Google bought the parent company of an app in India that helps people find where trains are. The app, called “Where is my Train,” has echoes of Google’s Waze deal.
  • Trello buys Butler. Trello, the task management app, bought something called Butler, which works with Trello. Butler is made by Ludable. Ludable is based in Providence, Rhode Island, the fine city where I live part-time. Cool!
  • New funds for TXV Partners and Vivo Capital. Remember TXV Partners, a firm we covered in October that was looking to raise $50 million? They did it!  This was wrong. The firm has yet to close its new fund, per the firm.And per Fortune’s Polina MarinovaVivo Capital has raised $863 million according to a filing. What’s a Monday without nearly a billion in new venture money?

And we’re just starting the week!

Coming up later today I have notes from Okta’s latest earnings report, including a quick conversation with its COO. We’ll examine what’s going on in the SaaS space from the perspective of the recently-private Okta and how that impacts startups.

Top Image Credit: Li-Anne Dias. Post updated to accurately reflect the fundraising status of TXV Partners.

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