Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.
It’s the day after Thanksgiving, so if you are reading this in America I hope there is a pet leaned up against your legs and that you are sitting next to a fire while staring down one more plate of leftovers.
We made this episode for just such a moment. Welcome to our take on a relaxed episode of Equity, a show normally featuring four people arguing about this or that. This week, it’s just TechCrunch’s Kate Clark and myself digging into some of the strangest and most interesting rounds of the year. Thus far, at least.
So what made our cut?
- First, Allbird’s $50 million round for shoes. Shoes that are popular here in Silicon Valley. $50 million? For shoes?
- Next, a few media rounds. Goop’s $50 million round for an e-commerce play powered by items of dubious scientific impact was worth our time. Also, Cheddar’s $22 million Series D was notable. The streaming service’s capital base will likely ensure that you’ll see lots of its videos on Twitter in 2019. And TheSkimm raised a $12 Series C. We had some thoughts on that, as you might imagine.
- Kate conjured up a theme called “Fewer And Fatter,” referring to funding events that are outsized for their putative stage. An $88 million investment for generic ED meds sent through the mail that is claimed as a Series A? Sure. And how about a $20 million Seed round for a company called “Oh My Green“? Why not.
- In the fitness realm, Peloton raised a $550 million round earlier this year (the company seems to be doing well, though its advertising load feels high). And Mirror raised $13 million. Guess what it does!
- And one more: Brex. This company provides corporate cards to startups, cards that its IRL advertising claims offer strong perks. How it will hold up in the eventual correction isn’t clear. What is, however, is that it has $125 million more to work with.
We hope that you are well and that the holidays are as delightful and full of joy as they can be. And if you are having a bad run of the end of the year, big hugs from the Equity crew. We think you are just perfect.