INSIKT raises $50 million to lend to low-income communities

 Loans can be the hardest to get for the people who need them the most. An estimated 45 million Americans don’t have a credit score and others have trouble bringing up their scores, even if they are in a better financial position than in years past. While most lenders would consider low-income families with bad credit scores to be too risky, a startup called INSIKT believes that it… Read More

Nextdoor raised about $75 million to connect neighbors

 Nextdoor, the neighborhood social networking site raised about $75 million in a funding round, The Information reported, estimating that the valuation is $1.5 billion. The round was confirmed by TechCrunch. This adds to the over $200 million that the San Francisco-based company has raised, dating back to 2010. Its last reported round was in early 2015 at a $1.1 valuation. The report says that… Read More

Okta reports earnings, moves headquarters and launches free service for startups

Okta Team Rings Bell It was a big day for online identity management provider, Okta.  After reporting better-than-expected third-quarter earnings, the company also made a slew of announcements. Okta, which counts corporate clients like Nordstrom and government clients like the U.S. Department of Justice, said that it’s now going to let startups use its services for free. Young organizations with up to 25… Read More

Spot.IM raises $25 million for a better comments section

 Social media has become critical to the online publishers. It drives a lot of traffic and helps brands build a following. But it also means that a lot of the engagement happens on another platform, like Twitter or Facebook, instead of the actual news site. New York-based Spot.IM saw an opportunity to help businesses from Time Inc. to NBC build out a better comments section, in order to… Read More

Yext sees 39% revenue growth in latest quarter

 Yext, the company that powers search results for retail locations, reported third-quarter earnings after the bell on Thursday. The New York-based company said it brought in $44.3 million in revenue for the third quarter.This is 39% growth from the same period last year. Analysts had been expecting $43.85 million in revenue. Losses came in at an adjusted 12 cents per share, better than the… Read More

Twitter Lite with lower data usage becomes available in 24 new countries

 Twitter is rolling out its “Lite” version, after a successful trial in the Philippines. The Android app will become available in two dozen countries across Africa, Asia, Europe, the Middle East and Latin America. Not too different from Facebook Lite, Twitter has also built a version of its app that’s optimized for developing countries. Twitter Lite minimizes data usage,… Read More

Lyft gained from Uber’s scandals, sees revenue triple

 Lyft appears to have benefited from Uber’s tough year. The U.S. rival has seen its revenue growth more than triple, according to a report from The Information.  The media outlet viewed financial reports, which showed Lyft brought in $483 million in revenue in the first half of 2017, compared to about $150 million in the same timeframe last year. The company also greatly improved its… Read More

Box is cash flow positive again, with 26% revenue growth

 Box posted its third-quarter earnings after the bell on Wednesday. The cloud management business reported $129.3 million in revenue, up 26 percent from last year. This beat analyst estimates of $128.64 million. The company also reported an adjusted negative 13 cents per share, in line with Wall Street estimates. This compares to negative 14 cents from last year. Read More

SoftBank makes offer for Uber shares at 30% discount

 A SoftBank Group-led team of investors has made an offer to buy Uber’s shares in a tender offer that would value the company at about a 30% discount to Uber’s last private valuation of nearly $70 billion, a source with knowledge of the proposed deal tells TechCrunch. We’re hearing that the proposed price per share is $32.96, which works out to under $50 billion. Bloomberg… Read More

Security business Barracuda Networks acquired for $1.6 billion

 Private equity giant Thoma Bravo has agreed to buy Barracuda Networks in a take-private deal valued at $1.6 billion. The company was offered $27.55 per share, about 16% above Friday’s close. This is above Barracuda’s 52-week high, but it’s down from the over $40 share the stock was trading at in 2015. Barracuda went public in 2013. Campbell, California-based Barracuda,… Read More