Industry News

5 clever ways to fund your startup

Author: Heather Redding / Source: Born2Invest The most common challenge that startups face is the lack of capital. In this article, We explore five clever ways through which you can raise funds for your startup. Having your own business is a great way to...

How to Stay Organized With Evernote

Author: Kate Volman / Source: Entrepreneur Everyone has their pet ways of staying organized. Some people like writing out to-do lists with pen and paper or creating Excel spreadsheets. In this video, Entrepreneur Network partner Kate Volman explains why she...

Remix Raises $10M, Sequoia Leads Series A Round

Author: Ben Miller / Source: Government Technology US A screenshot of Remix's transit planning platform. The drag-and-drop "Jane" tool shows how far a person could travel in a transit system in 30 minutes. Three years and 200 customers later, Remix is...

Snap stock tanks after IPO expenses run up a $2.2 billion loss for the first quarter

Snap reported quarterly financial results for its first time as a public company on Wednesday, posting revenue that missed estimates and slower-than-expected user growth.
Shares plummeted more than 25 percent in after-hours trading.
CEO Evan Spiegel got a $750 million bonus for taking Snap public.
Despite the steep loss during the quarter, Snap is “still in investment mode,” the company’s chief financial officer, Drew Vollero, said on a conference call with analysts.
Revenue: $150 million reported vs. $158 million expected by a Thomson Reuters consensus estimate.
Daily active users rose 36 percent from the year-ago period, and average revenue per user grew 181 percent.
More than 3 billion Snaps were made daily in the first quarter, the company said, up from 2.5 billion in the third quarter of 2016. “We made good progress this quarter improving the performance and quality of our Snapchat application, especially on Android, which has helped result in increased net user adds and engagement,” Khan told CNBC.
As a whole, Facebook has 1.28 billion daily active users, nearly eight times as many as Snapchat.
Snap should have set its expectations lower, Art Hogan, chief market strategist at Wunderlich Securities, told CNBC’s “Closing Bell” on Wednesday.

TPG Pace Energy Holdings Corp. Completes $650 Million Initial Public Offering

TPG Pace Energy Holdings Corp. Completes $650 Million Initial Public Offering.
FORT WORTH, Texas–(BUSINESS WIRE)–TPG Pace Energy Holdings Corp. (the “Company” or “TPG Pace Energy”), an energy-focused special purpose acquisition entity, today announced the closing of its initial public offering of 65,000,000 units, which includes 5,000,000 units issued pursuant to the partial exercise by the underwriters of their over-allotment option.
Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on the New York Stock Exchange under the symbols “TPGE” and “TPGE WS,” respectively.
Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Citigroup Global Markets Inc. and Credit Suisse Securities (USA) LLC served as joint book runners for the offering.
This press release contains statements that constitute “forward-looking statements,” including with respect to the anticipated use of the net proceeds.
Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the Securities and Exchange Commission (“SEC”).
Copies are available on the SEC’s website, www.sec.gov.
About TPG Pace Energy TPG Pace Energy is a special purpose acquisition company formed by TPG Pace Group for the purpose of entering into a merger, stock purchase, or similar business combination with one or more businesses in energy or energy-related industries.
About TPG Pace Group TPG Pace Group is the firm’s dedicated permanent capital platform, created in 2015 with the objective of sponsoring special purpose acquisition companies and other permanent capital solutions for companies.
Since the start of 2014, the firm has launched several new products, including TPG Pace Group, TPG Real Estate Finance Trust, TSL Europe and Arrow Ridge Capital.

Innovation, Change and the Rest of Your Life

Author: Steve Blank / Source: The Huffington Post I gave the Alumni Day talk at U.C. Santa Cruz and had a few things to say about innovation. Even though I live just up the coast, I’ve never had the opportunity to start a talk by saying “Go Banana Slugs.”...

How Very Successful People Think Differently

Author: Meiko Patton / Source: Entrepreneur Would you agree or disagree with each of the following statements? I wish I had fewer problems in life. I wish I didn’t have to struggle so much in life. I wish I had the opportunities that other people have. If...