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June 28, 2016

LendingClub slashes jobs, discloses ex-CEO made loans to his family

Troubled San Francisco-based fintech LendingClub will lay off 12 percent of its staff and has disclosed that its ex-CEO made over $700,000 in loans to family members in a bid to inflate monthly loan volume.




Apttus hires CFO as it gets closer to going public

The company, whose sales management software is built on Salesforce's platform, hit more than $1.5 billion in valuation last fall when it raised a big $108 million round.




Blue Jeans Network hires CFO ahead of possible IPO

The Mountain View video streaming startup has raised $175 million and counts former Yankee Derek Jeter among its backers .




Lyft, Uber settle lawsuit that threatened to air sensitive details

The ride-sharing services halted litigation in a fight centered around a former Lyft executive who joined Uber.




Airbnb sues San Francisco over new law requiring hosts to register

Airbnb, the short-term rentals startup valued at $25.5 billion, is suing San Francisco after the city passed legislation that would penalize it for unregistered hosts.




Lyft hires Silicon Valley investment banker Quattrone, spurring talk of possible sale

Qatalyst Partners founder and Executive Chairman Frank Quattrone has called on several companies, including large automakers, about acquiring a stake in the ride-hailing app, the Wall Street Journal reported.




Cisco acquiring Massachusetts cybersecurity company for $293M

The Bay State startup had raised about $30 million in venture funding from investors including Bessemer Venture Partners, Salesforce, Cedar Fund and Ascent Venture Partners.




Social network company buys Bay Area peer for $54.6M

San Francisco-based Skout will remain a separate brand and standalone mobile app following the closing of the acquisition in October.




Y Combinator seeks proposals to build a better city

There are few details about where it would go or who would do it, but the Mountain View accelerator is accepting proposals due by the end of next month.




More founder & funder news

Want diversity in tech? Stop looking in the same places for talent, Code Fellows CEO says

What startups can learn from Taboola and the 'Economy of Good Enough'

Blue Origin reveals renderings of Space Coast facility currently underway

Clinton pleases tech industry by issuing innovation plan (and other news from Washington today)

Wells Fargo to offer instant payments to mobile customers

Cromwell Schubarth

Senior Technology Reporter

[email protected]

408.299.1823

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