Cory Weinberg, The Information

Cory Weinberg

The Information

San Francisco, CA, United States

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Recent articles by Cory:

Stripe in Talks to Raise Up to $3 Billion From Current Investors

Less than a week after telling employees that it would evaluate a public offering over the next year, payments giant Stripe is moving quickly on a deal to raise as much as $3 billion from its existing investors. The talks, which have heated up in recent days, are likely to value the company at ... → Read More

Stripe’s Revenue Growth Slid Last Year as Firm Burned Through Cash

Stripe’s revenue growth fell sharplylast year and the firm was unprofitable, factors the payments giant will need to navigate while planning to either go public or raise money privately in the next year. The company’s gross revenue—the amount of sales it pulls in before paying out a significant ... → Read More

Stripe Plans to Go Public in Next Year or Make a Deal to Resolve Employee Stock Squeeze

Stripe plans to either go public or make a deal that will allow employees to sell stock within the next year, the company told employees and investors Thursday, moves that would be aimed at easing a looming stock crunch for some veteran employees. The company is considering both a direct listing ... → Read More

Cybersecurity Startup Snyk to Raise a Down Round Led by Qatari Fund

Snyk, a prominent cybersecurity startup, is nearing a deal to raise money from Qatar’s sovereign wealth fund at a valuation of roughly $7 billion—a slightly lower price than the firm’s previous round of funding—according to people familiar with the matter. The deal would make Boston-based Snyk ... → Read More

Investors Wary of Board Seats at Crypto Startups Due to Legal Risks

As regulators take aim at cryptocurrency tokens, prominent crypto investors have taken unusual steps to insulate themselves: not seeking board seats at startups in hopes of avoiding liability. Investors’ lawyers are warning that members of token-issuing startup boards could potentially face big ... → Read More

Gorilla Warfare in Europe’s Startup Scene

Last year, Kağan Sümer blasted out of nowhere with a startup called Gorillas that had an audacious vision: to kill the grocery store. The Berlin-based grocery-delivery company surpassed a $1 billion valuation a year after it was founded, a nearly unheard-of rate of ascent for a startup in ... → Read More

SoftBank-Backed Katerra to Shut Down

Construction startup Katerra has told employees it plans to shut down, people familiar with the matter said, marking the collapse ofthe SoftBank-backed company that had raised more than $2 billion to slash the cost of building apartments. Katerra is expected to let go of thousands of employees ... → Read More

Airbnb Confronts Tighter Rules on Rentals as Pandemic Ebbs

As Airbnb works to reinvigorate its business after the pandemic all but extinguished travel to urban destinations, it is confronting a fresh threat from regulators intent on limiting the number of homes they allow to be rented out to tourists. In cities around the world, but especially in ... → Read More

Gopuff Revenue Triples, but Growing Competition to Test Expansion

Online delivery service Gopuff more than tripled revenue last year to $340 million as the pandemic sent demand for deliveries soaring, according to a person familiar with the matter and an internal presentation viewed by The Information. Gopuff has told employees it expects to nearly triple ... → Read More

Fortunes Begin to Turn for Sonder and Other Travel Startups

Last March, Sonder was in dire straits. The startup, which rents furnished, hotel-like apartments to travelers, laid off nearly a quarter of its staff, slashed room prices and looked to terminate some of its leases as Covid-19 brought travel to a near halt. “If we pull these levers ... → Read More

SoftBank to Invest More Than $100 Million in Fitness Startup Tempo

Tempo, a 2-year-old startup trying to challenge Tonal, Mirror and Peloton in the at-home fitness market, is finalizing a more than $100 million investment led by SoftBank, two people familiar with the matter said. The deal shows that even as people return to gyms as the pandemic ebbs, venture ... → Read More

Largest Homebuilder Emerges as Unlikely Startup Kingmaker

Back in 2016, executives at homebuilding giant Lennar Corp. sat down with the founders of Doma, which uses technology to speed the underwriting of title insurance. Worried that the startup didn’t have sufficient experience in either real estate or insurance, Lennar decided to pass on investing ... → Read More

Coatue Invests in Real Estate Startup Side at $1 Billion Valuation

Side, a startup that offers brokerage services and software to real estate agents, raised nearly $150 million at a valuation of $1 billion after the investment, according to a regulatory filing and two people familiar with the matter. It is the latest in a string of high-priced financings ... → Read More

Khosla’s Lawsuit Against Lime Shows Ugly Side of Aborted Acqui-Hires

It would have been an unremarkable transaction: Electric skateboard pioneer Boosted was running out of money in late 2019 and tried to sell key assets and transfer some employees to Lime, a scooter rental firm, for $30 million in Lime’s stock. The deal would have helped Boosted’s biggest ... → Read More

How Katerra’s Facade Crumbled

Not much was going right early last year at SoftBank-backed construction startup Katerra. Money was drying up, and board meetings sometimes erupted into shouting matches. Anxious about missing financial forecasts while the company was trying to raise more money from investors, at least one ... → Read More

StockX Revenue Hits $400 Million in Turf Battle With Goat

Most people who buy from e-commerce site StockX purchase the type of items it has become known for: trendy pre-owned sneakers and other streetwear. But in a twist, the new Sony PlayStation and Xbox consoles were its highest-grossing products last year as shoppers dove in, willing to pay a ... → Read More

After Tough Year, SPACs Tempt Bird, Lime

Dogged by questions of financial viability and then a pandemic that crippled demand for scooter rentals, Bird and Lime are taking steps to repair the damage. Bird is finalizing a deal to raise more than $100 million in convertible debt, led by existing investors Sequoia Capital and Valor Equity ... → Read More

Airbnb Used Facebook and Twitter to Weed Out Hate Groups

For the past few years, a specialized team of about half a dozen employees within Airbnb has been assigned an urgent task: preventing white nationalists and other potentially dangerous fringe groups from renting homes on the site. Working inside the company’s trust and safety unit, the employees ... → Read More

Hipcamp, ‘Airbnb of the Outdoors,’ Raises $57 Million

Hipcamp, a VC-backed startup that offers people places to stay or pitch a tent in rural areas, closed a $57 million funding round that values it at more than $300 million, according to financial filings, more than double the valuation of its last major financing in 2019. New investors in the ... → Read More

Laid-Off Airbnb Employees Lost Mountain of Canceled Stock

Airbnb’s initial public offering, which is expected to be priced Wednesday evening, will give thousands of current and former employees a long-awaited opportunity to sell shares. Some who joined the company in the early years will get a windfall. Others, including those who lost their jobs this ... → Read More