How much equity in OpenAI will Microsoft get once the former becomes a for-profit company? That’s the multi-billion-dollar question — one the two parties are racing to answer ahead of a two-year deadline. The Wall Street Journal reports that both Microsoft and OpenAI have hired investment banks to negotiate Microsoft’s equity — which could be […]
Sam Altman reportedly poised to get equity in OpenAI for the first time
Following the abrupt departure of OpenAI’s CTO, Mira Murati, CEO Sam Altman is reportedly poised to receive equity in the company for the first time as OpenAI moves away from its longstanding nonprofit structure. Reuters, citing people familiar with the matter, reports that OpenAI plans to restructure into a for-profit benefit corporation — similar to […]
Vista Equity Partners and Blackstone offer to buy Smartsheet for $8.4B in cash
Vista Equity Partners and Blackstone have agreed to acquire Smartsheet, the software-as-a-service (SaaS) workplace collaboration and management platform, for $ 8.4 billion in cash. The companies say that the deal values publicly-traded Smartsheet’s shares at a 41% premium over its 90-day average closing share price. Should regulators and shareholders approve it, shareholders would receive approximately […]
Virtuous, a fundraising CRM for nonprofits, raises $100M from Susquehanna Growth Equity
I recently adopted a kitten from a local animal shelter. The modern, well-staffed three-story facility relies almost entirely on donations to operate. It’s just one of the 1.8 million nonprofits in the U.S. that need to continually solicit contributions from donors to maintain its services. But Virtuous founder and CEO Gabe Cooper says that many […]
Miami-based AI bookkeeping startup finally has raised another big round: $200M in equity and debt
The SMB-focused bookkeeping, accounting and finance startup finally has raised $ 50 million in a Series B round of funding and secured a $ 150 million credit line, TechCrunch is the first to report. The financing comes just seven months after the fintech company announced it had raised $ 10 million in funding, and brings […]