Snap CEO Evan Spiegel got a $637 million bonus last year

 Snap’s stock investors haven’t made much money since the company went public last year, but CEO Evan Spiegel still got a hefty payday. According to an SEC filing, he was granted an RSU of 37,447,817, which vested at the time of the IPO. In other words, that was worth nearly $636.6 million. His salary for the year was $98,078, and he had over $1 million in other benefits, so all in… Read More

Equity podcast: Uber’s losing billions, Amazon lays off hundreds and somehow Instacart gets more money

 Welcome to “Equity,” TechCrunch’s venture capital and tech business podcast. On this week, we were joined by Mike Ghaffary from Social Capital, who was the perfect guest because he used to run Eat24, when it was Yelp’s food delivery business. Food delivery is highly relevant to this week’s news. First up, we talked about Uber, which is losing lots of money in Asia… Read More

Twitter’s Dorsey downplays acquisition possibilities, sees “strength to our independence”

 If you’re a Twitter shareholder wondering if the company is about to get acquired, co-founder and CEO Jack Dorsey doesn’t want you to get that impression. “There’s a lot of strength to our independence,” he said, at the Goldman Sachs Technology and Internet Conference in San Francisco on Tuesday. Dorsey believes that it’s important for Twitter’s… Read More

Raise softly and deliver a big exit

 In the world of venture capital, the prospect of a successful “exit” looms large in the minds of investors. A VC’s business model is less about the money that goes into a startup than it is about what comes out. It’s true that most companies fail to exit gracefully, and of those that do, surprisingly few exit by going public. Read More

Cardlytics up 3% following IPO, raised $70 million

 Atlanta-based Cardlytics made its public debut on Friday, closing the day at $13.37, just a little above the IPO price of $13. The company sold 5.4 million shares, raising $70 million. Cardlytics works with financial institutions like Bank of America and 2,000 others to run cash back programs. It partners with brands across restaurant, retail, travel, grocery and home subscription categories… Read More

Qualcomm rejects Broadcom’s $121 billion bid

Broadcom headquarters The largest tech acquisition offer in history wasn’t enough. Qualcomm’s board of directors issued a statement on Thursday saying that they are turning down Broadcom’s $121 billion bid to buy the competing chipmaker. According to the release, Qualcomm “unanimously rejected” an “unsolicited proposal” to buy all of its shares at $82 each, of which $60… Read More

Stripe will establish an engineering hub in Dublin

 Stripe will open its first engineering center outside the United States in Dublin, the company told Reuters today. Dublin isn’t a surprising choice. Though the online payment processing provider is based in San Francisco, its founders are Irish and Stripe’s European headquarters are already in the Irish capital, where it has about 100 employees. Reuters says Stripe will hire… Read More

Tesla uses auto leases to raise $546 million in asset backed securities

 Tesla is using its car leases as collateral for a big $546 million loan as it turns to debt markets to raise additional cash to combat the blistering burn rate of its auto and energy business, according to multiple reports. The bonds are pegged to leases of its Model S and X cars, and it marks the first time that Elon’s electric albatross has turned to asset backed securities for new… Read More

CVS, other health stocks down upon Amazon, JPMorgan, Berkshire healthcare co news

 Investors panicked this morning upon the news Amazon, JPMorgan Chase and Berkshire Hathaway were teaming up to launch a health insurance company for their U.S. employees. Healthcare is one of the biggest operating costs for Fortune 500 companies and the three iconic companies have joined forces to build a new health insurance company for all U.S. employees in an effort to improve satisfaction… Read More

Robinhood adds zero-fee cryptocurrency trading and tracking

 No-commission stock trading app Robinhood will let you buy and sell Bitcoin and Ethereum without any added transaction fees starting in February, compared to Coinbase’s 1.5 to 4 percent fees in the US. And as of today Robinhood will let all users track the price, news, and set up alerts on those and 14 other top crypto coins, including Litecoin and Ripple. “We’re planning… Read More