CEO Vishal Garg says he’s on the hook for $ 750M SoftBank loan – Technewscity

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It’s Friday the 13th and I hope nothing terrible has happened to you today. At least the weekend is here! At the very least, you can follow the latest Terraform Labs news – Binance stopped trading with Luna and UST – and some great podcasts from your favorite Technewscityers. And be sure to secure your “seat” for our Technewscity Live event on June 1st in Columbus. See you on Monday! – Christine

Technewscity Top 3

  • If Elon does not buy Twitter, Snoop Dogg is at least ready to throw himself over: Early this morning, Elon Musk tweeted that his proposed purchase of Twitter was on hold while calculating the percentage of fake accounts using the social media channel. Although he also tweeted, he is still “committed to the acquisition”, I enjoyed watching Snoop Dogg tweet his desire to perhaps take a trip if Musk does not. His plan for it is actually not bad.
  • Eat out at Dineout: In some news about online food ordering by M&A, Swiggy said it was acquiring Dineout, the Indian equivalent of OpenTable. This puts Swiggy directly into the dining sector, dominated for a time in the country by Zomato, whose market value has dropped to around $ 5 billion. It also represents further consolidation within a giant market that is trying to make sense of its pandemic boost.
  • More layoffs: Natasha and Amanda were already busy last week catching up on the countless technical layoffs, and unfortunately have another list today that includes Section4, Carvana and Latch. Even Meta is not immune.

Startups and VC

  • On the hook: That’s what CEO Vishal Garg says about a $ 750 million SoftBank loan. By Garg taking personal responsibility for the loan, he is responsible for any losses. However, the company may also be affected because any loss may require him to sell many of his holdings, which could adversely affect the shares. Still some mess no matter how you look at it.
  • Dress up in indie brands: China-based Body404 is betting that the West will embrace the next generation of clothing designers who want to give them something that is not just a cheaper runway. It is paid for by the fact that the company is now valued at $ 50 million after raising $ 50 million in March. It is also interesting to note that customers do not return the clothes – Body404’s return percentage is around 2%, much less than the average of 10% in the fashion industry.
  • Enjoy a sag: Frank Reig, who heads Revel, a company that builds fast-charging hubs for electric vehicles, caught up Rebecca to discuss the company’s shift from moped sharing and the distance Revel has traveled to drive electric car adoption.
  • See and get paid: Our attention is valuable and is often drawn in different directions. WeAre8 wants to reward you for doing what DVR has allowed us to skip for many years now – see ads. The company is run by advertising guru Sue Fennessy, which aims to steer ad funding away from social media giants like Facebook and channel it to a good cause.

Pitch Deck Teardown: Dutch’s $ 20M Series A tire

Pitch deck cover slide with a cute dog, the word DUTCH and Technewscity Pitch Deck Teardown overlaid

Image credit: Dutch

As CEO and founder of the virtual veterinary care platform Dutch, Joe Spector originally intended to raise a $ 15 million Series A, but his pitch-deck so skillfully mixed pictures of lovable pets with market research and traction measurements that he ended up closing a round of $ 20 million.

With flair, Dutch’s deck tells a compelling story about how the company used its start-up financing to launch a service within three months, establish a brand identity, build a team and expand from 12 to 32 states, writes Haje Jan Kamps in the weekly Pitch Deck Teardown .

If you’re working on a pitch tire and need inspiration, start here: All 17 slides are available for TC + members.

(Technewscity + is our membership program that helps founders and startup teams move forward. You can sign up here.)

Big Tech Inc.

Ro, ro, ro din Peloton: That’s right folks, Peloton is trying to end a tough week on a positive note by adding another oar to the competitive rowing machine market. After selling my Peloton bike in 2019, this caught my attention when I discovered a love of rowing. Here I hope the price tag is a bit friendlier to my budget than the bike was.

Zoom gets its customer service day: The video communications giant acquires the conversational AI company Solvvy in an attempt to offer customer service experiences within Zoom’s toolkit. Corporate stocks are in the news, so it looks like Zoom has made the wise choice.

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