Who's (not) IPO-ing and what's going on with BaaS?

Equity

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Founders, Silicon Valley, Finance, Ipo, Vc, Technology, Business News, Startups, Business, Venture Capital, News, Stock Market, Entrepreneurship, Techcrunch

4.2 • 365 Ratings

🗓️ 31 May 2024

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

Welcome back to Equity Friday! In this week’s episode, Mary Ann, Becca Szkutak,and Haje Kamps tackled three deals of the week: xAI, Elon Musk has once again proven that his name alone can shake up the investment world, raising a staggering $6 billion for his AI startup. Solutions by Text, The Dallas-based company, which has been bootstrapped for over a decade, secured $110 million in funding. And WeatherXM, which is a company bringing Web3 into the weather forecasting space that raised $7.7 million in a Series A. Then they discussed the Synapse Collapse and what it means for the larger FinTech ecosystem. Synapse, a banking-as-a-service (BaaS) provider, filed for Chapter 11 bankruptcy leaving many startups and customers in the lurch. Lastly, the crew wraps it up by discussing Becca’s piece on who is (and is not) going to IPO this year and what that signals to the industry. That’s it for this week, but we’ll be back bright and early Monday morning with more tech and startup news, along with another round of Pitch Deck Teardown. Talk soon!

Transcript

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0:00.0	Hello and welcome back to Equity Tech Runches flagship podcast about the business of
0:16.0	startups. Today is Friday, May 31st. I'm Marianne
0:19.4	Azavado and joining me today is TC reporter, Haya Camps.
0:23.4	Hiya, how's your week been?
0:25.1	You know, I've had a wild couple of weeks, and this week I'm doing a really dumb thing,
0:29.6	which is trying to cram about six days worth of work into about three days.
0:34.5	Monday was Memorial Day, Tuesday accidentally ended up doing 11 calls back to back.
0:38.8	Oh my goodness.
0:39.8	So Wednesday my brain was cooked. But you know I've got a fun weekend ahead and I'm
0:45.8	excited about that so it's all right. Wow 11 that has to be like a record that's
0:50.8	crazy. Also joining us today as senior TC reporter on the
0:54.8	venture bee and co-host of our sister podcast found Becca Scutak.
0:59.2	Becca, what's new in your world? How are you? I am doing doing well I always say I love a three day
1:05.0	weekend but I hate a four day week yeah so trying to definitely cram a bit as well
1:09.0	but I don't think I'm trying to cram as much as high as so I think I'm doing a little better.
1:13.7	I know that we always kind of pay for those extra days that we get right when it's a holiday
1:18.1	is like having to do twice the amount of work and the days leading up and after but hey can't complain so well before we
1:26.1	get to the show rundown please don't forget to rate and review equity on Apple
1:29.9	podcast Spotify or whatever your preferred pod streamer is we really appreciate it
1:34.7	now on the show today we've got a few exciting deals of the week they're all a little bit
1:39.9	different but cool in their own ways. We'll be talking about X-A-I, whether X-M, and
1:46.2	solutions by text. Lots of X is there. Didn't realize that. Then we'll
	...

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