Thousands of new venture capital funds have launched over the past few years, each hoping to carve out a long-term, lucrative place for themselves. PitchBook is tracking over 10,000 funds currently trying to raise money, and 45% of them are emerging fund managers, defined as a firm with less than three funds. Those funds are […]
TechCrunch Mobility: Apple layoffs, an EV price reckoning and another Tesla robotaxi promise
Welcome back to TechCrunch Mobility — your central hub for news and insights on the future of transportation. Sign up here — just click TechCrunch Mobility — to receive the newsletter every weekend in your inbox. Subscribe for free. Automakers reported auto sales for Q1 and, welp, turns out that pricing sure does matter if you want to […]
Bumble cuts ~350 employees as dating apps face a reckoning
Bumble, a once-powerful force in online dating, is facing a reckoning. The company posted weak Q4 2023 results today showing a $ 32 million net loss and $ 273.6 million in revenue. While up from the same period a year ago, earnings came in below Wall Street expectations and were paired with a disappointing Q1 […]
Alibaba faces reckoning with once-vaunted ‘new retail’ strategy
In 2017, “new retail” began appearing in Alibaba’s earnings reports. Coined by the Chinese e-commerce behemoth, the term refers to the seamless integration of online and offline retail. Six years later, Alibaba is having a moment of reckoning with this strategy as it looks to offload some of its offline retail assets. On its recent […]