Venture

WeWork’s Discount, Who Bought Who, And Two New Unicorns

Welcome to the Crunchbase News Weekend Update. An email form of this post went out Saturday morning. Happy reading!

Over the past week I read through New York Times’ reporter Mike Isaac’s new book: Super Pumped. I wrote most of my thoughts in a review, but here are the three blurbs I left out:

1. Someone almost body-checked me on Market St. wondering how I got an early copy of the book.
2. I read this book while walking on Market St. It was that good.
3. I finished the book right as Uber set a new record low share price. Take that as you will.

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Speaking of struggling companies, WeWork, soon to debut on the public market, might stop its self-inflicted hype early. The coworking company is reportedly open to cutting its valuation in half ahead of its IPO. WeWork also said it plans to add a woman to its board after its IPO. And as our Editor in Chief Alex Wilhelm noted, it’s not the first company that will be going public at a discount this cycle.

Behind the IPO march, there’s a unicorn trot. Grove Collaborative raised a $150 million Series D, making it a new unicorn. Other nine-figure rounds include Canadian startup Clio raising $250 million for legal tech and San Francisco’s Getaround raising $200 million for car sharing.

We had a particularly busy M&A week as well. Microsoft scooped up a SaaS startup, Chegg, an edtech company, bought an online coding school for $80 million, and India travel startup OYO acquired a data science company.

Finally, read on Homebrew’s Hunter Walk and Satya Patel in this week’s Seed Series. Learn about where they spend 51 percent of their calendar time, how a password protected video led to an investment (twice), and why they always co-invest.

Thanks for sticking with us this short week, we’ll be back Monday with five days of fresh news (aka five opportunities to hang out with my favorite people).

Talk soon,
Natasha

P.S. Follow me on Twitter (@nmasc_)

Illustration: Li-Anne Dias.

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