Thoma Bravo to take UK cybersecurity company Darktrace private in $5B deal
Darktrace is set to go private in a deal that values the U.K.-based cybersecurity giant at around $5 billion. A newly-formed entity called Luke Bidco Ltd, formed by private equity giant Thoma Bravo, has tabled an all-cash bid of £6.20 ($7.75) per share, which represents a 44% premium on its
Read moreTesla Autopilot investigation closed after feds find 13 fatal crashes related to misuse
The National Highway Traffic Safety Administration closed a long-standing investigation into Tesla’s Autopilot driver assistance system after reviewing hundreds of crashes involving its misuse, including 13 that were fatal and “many more involving serious injuries.” At the same time, NHTSA is opening a new investigation to evaluate whether the Autopilot
Read moreShein to face EU’s strictest rules for online marketplaces
Ultra-fast fashion ecommerce giant Shein will be subject to an additional layer of governance rules targeted at very large online platforms (VLOPs) under the European Union’s Digital Services Act (DSA), the Commission announced Friday. Shein had reported passing an average of 45 million monthly users in the region — which
Read moreGlobal Founders Capital will deploy Rocket Internet’s cash instead of raising a new fund
Global Founders Capital, the Berlin-based early stage VC firm with close ties to the German startup factory Rocket Internet, is going to become the venture arm of Rocket Internet. The VC previously raised two $1 billion funds and, just a few years ago, its name appeared in dozens of deals
Read moreSupporting the world’s most-used database engine through 2050
Dr. Richard Hipp, creator of SQLite, shares how he taught himself to program, the challenges he faced in creating SQLite, and the importance of testing and maintaining the software for long-term support.
Read morexAI, Elon Musk’s OpenAI rival, is closing on $6B in funding and X, his social network, is already one of its shareholders
xAI, Elon Musk’s 10-month-old competitor to the AI phenom OpenAI, is raising $6 billion on a pre-money valuation of $18 billion, according to one trusted source close to the deal. The deal – which would give investors one quarter of the company – is expected to close in the next
Read moreZomato’s quick commerce unit Blinkit eclipses core food business in value, says Goldman Sachs
Goldman Sachs said in a report late Thursday that Indian food delivery giant Zomato’s quick commerce arm Blinkit is now more valuable than its core food delivery business, as per the bank’s sum-of-the-parts analysis. The investment bank estimates Blinkit’s implied value at 119 Indian rupees per share ($1.43) or about
Read moreThe FTC’s ban on noncompete clauses could be good for startups. But it also might be struck down.
The Federal Trade Commission voted 3-2 to ban the use of most noncompete agreements on Tuesday. This ruling means companies can’t require their employees, that aren’t senior executives, to wait a set amount of time before joining a competitor or launching their own company in the same category. While the
Read moreNorwest Venture Partners raises $3B for 17th vehicle, maintaining fund size despite market downturn
Norwest Venture Partners, a 65-year-old firm backed solely by Wells Fargo, has raised its 17th fund at $3 billion. That’s a noteworthy number, given that NVP last raised the same amount in December 2021. That was the peak of the venture boom, and at that time, the firm said it
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