Today on Equity, we're kicking off another week with a look at Reddit's new IPO filing, the potential impact of Grok being open sourced, and why Bobby Kotick wants to buy TikTok.

Musk’s Grok goes open-source and Reddit updates its IPO filing

The intersection of technology, startups, and venture capital touches everything now. That’s why Equity unpacks the numbers and nuance behind the headlines for entrepreneurs and enthusiasts alike.  Every Monday, Wednesday and Friday, TechCrunch reporters Alex Wilhelm and Mary Ann Azevedo keep you up-to-date on the world of business, technology, and venture capital.

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The Equity crew had a lot to parse this week. We had notes on wallet-as-a-service’ startup Ansa's latest fundraise, and how Alex initially misunderstood its business model. Then Kirsten talked us through a simply massive deal in the self-driving space, while Alex wanted to riff on Beehiiv and its own funding round. $33 million is no small Series B in 2024!

From there, we had a few minutes to discuss Anna Heim's recent reporting on disability tech and how AI is taking and industry and accelerating it. Even better, there appear to be a mix of business models approached by the startups we discussed. That means that there could be many avenues to making tech that works better for more folks into real, and large businesses.

To close out, Dominic-Madori Davis  joined us to chat about her reporting on Techstars. The company has been shaking up its operations for some time now, leading to certain departures from its ranks. TechCrunch's deep-dive into how it all went down is well worth your time.

Inside TC’s Techstars investigation and how AI is accelerating disability tech

This week on Equity, we dug into the Chowdeck round. It’s a Nigerian company that is putting up impressive growth with its food delivery business. Keep an eye on it, Nigeria is a big market and TechCrunch writes that no single company has its delivery business on lock. Yet, at least.

On this morning’s episode we also took a look at the recent Corelight round, which given its valuation and revenue growth, is one to chew on.

From the venture side of things, we discussed two stories. First, that Intuition is going after the consumer market. From Paris, the smaller fund is betting that going the opposite direction as most VCs is how to make the most money. And second, a new venture capital supergroup is forming. Axios reports that investors with backgrounds at a16z, Bessemer and Index are building a new firm.

A new venture capital supergroup is forming

We’re off to an AI-heavy start to the week. OpenAI has a new deal with the Financial Times that caught our eye. Sure, it’s another content licensing deal, but there appears to be a bit more in the tie-up than just content flowing one way, and money the other.

On this early-week episode of Equity, we also dug into the xAI news that TechCrunch broke recently; namely that Musk’s AI enterprise is not looking to raise $3 billion on a $15 billion valuation. No, it’s now looking for $6 billion at an $18 billion valuation. That’s a lot of capital.

But there was even more to chat about, including the EU handing Apple even more bad news in the form of placing iPadOS under its DMA rules that should force third-party app stores on the tablet line in time. And Tesla got some good news in China, though just how impactful it will prove is not 100% certain at this juncture.

And to close out, the Times has a fascinating look at pace at which venture capitalists are putting money into AI startups. Given the ability of OpenAI to land big deals with Microsoft money, is it enough?

Musk’s xAI shows there’s more money on the sidelines for AI startups

This week, Rubrik’s strong IPO pricing and warm reception by the public markets after its listing add more weight to the perspective that the public markets are not as closed to tech startups as some thought, but that's not all we had to cover this week. Mary Ann let us know about "send-now-pay-later" startup Pomelo's latest raise, and then we dove in to all things TikTok, its timeline and impact.

And to close, Early Stage. TechCrunch held its annual early-stage focused even this year, and it was a banger. Not to toot our own horn, but it was the second year in a row that our shindig in Boston was packed, useful, and lots of fun. The coffee was even good. At a tech conference. Alex had notes, so stay through to the end for that!

Good news for Rubrik, bad news for TikTok, and encouraging news for Early Stage startups

Today on Equity, we have som bad news for TikTok fans in the U.S.: A bill that would force a sale of TikTok or ban it in the United States passed the Senate. And the President is expected to sign it. Given that China has made noise that it will not allow a sale of the social media company that is headquartered in Singapore, but is owned by Chinese company Bytedance, it’s not looking good for TikTok in the States.

But if that has you bummed out, don’t worry, we have lots of pretty positive news to discuss as well. News like two AI startups in Europe that are making a bit of noise that caught our attention. There’s a lot more AI in Europe than just Mistral, of course.

And we had to discuss the latest from Perplexity AI, which just raised money and is shaking up its operating plans by raising even more money. It’s a good time to be an AI startup.

Not that that is the only thing going on. The Framework laptops folks just raised more capital, Pony.AI is considering a U.S. IPO, and Volition Capital is expanding.

Musk’s Grok goes open-source and Reddit updates its IPO filing

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