Happy Thursday, everyone!
If you were looking for yesterday’s issue — we know some of you had trouble finding it — it’s here.
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Top News in the A.M.
According to Bloomberg, Twitter’s board is meeting today to discuss results from its CEO search, which has gained urgency as executives exit. The news has its shares trading up this morning.
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For Top VCs, a Demo Day to Call Their Own
For the second time in its two-year history, in a small space that’s easy to miss on a leafy Palo Alto street, the boutique venture firm Pejman Mar brought together seven startups yesterday to present their fledgling ideas to some of the best early-stage investors in the startup industry.
Roelof Botha of Sequoia Capital was there, as were investors Jeff Clavier, Manu Kumar, and Kent Goldman. There was also a contingent of bearded VCs, who’d driven over from their respective Sand Hill Road firms. “It looks like we dressed each other today,” joked one to another who was wearing a similar shirt.
The investors had come partly because the presenting teams all have ties to Stanford. Some of them haven’t graduated. Others have advanced engineering degrees. Almost all camp out regularly at Pejman Mar’s simple but cheery offices, batting around ideas and, sometimes, receiving a $15,000 to $25,000 convertible note from Pejman Mar in the process.
Yet another attraction for the VCs: an afternoon that’s refreshingly intimate by current standards. Yesterday, there were no more than 60 people gathered, and at least a third of them were involved in the startups that were pitching. (Most seem to be launching the alpha versions of their products right now.)
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New Fundings
ADC Therapeutics, a four-year-old, Lausanne, Switzerland-based company that’s developing antibody drug conjugates and non-antibody drug conjugate products, has raised $80 million in new funding from earlier backers Auven Therapeutics and AstraZeneca, along with undisclosed new European and U.S. investors. More here.
Bubl, a four-year-old, Toronto-based maker of a 360-degree camera for capturing spherical panoramas, has raised $3.5 million in seed funding led bySamsung Ventures and J-Tech Capital, with other unnamed investors also participating in the round. TechCrunch has more here.
Netskope, a three-year-old, Los Gatos, Ca.-based cloud app analytics and policy enforcement company, has raised $75 million in Series D funding led by Iconiq Capital and other prominent Silicon Valley companies. The company has now raised more than $130 million altogether. Venture Capital Dispatch hasmore here.
Vestiaire Collective, a six-year-old, Paris, France-based pre-owned luxury clothes marketplace, has raised $37 million in Series D funding led by the French investment firm Eurazeo, with participation from previous backers Idinvest Partners, Condé Nast, Balderton Capital and Ventech. The company has now raised roughly $67 million altogether. TechCrunch has more here.
Wrap, a nearly two-year-old, San Francisco-based mobile-first marketing and commerce platform founded by serial entrepreneur Eric Greenberg (he founded Scient in the late ‘90s), has raised $12.7 million in Series B funding led by Raine Capital and ProSieben. Other participants in the round includeChristopher Crain of Crain Communications, Dream Incubator, FF Angel, Salesforce Ventures and Transmedia Capital. The company has now raised $18.7 altogether. More here.
Zivame, an four-year-old, Bangalore, India-based online lingerie store, has raised $40 million in Series C funding led by Zodius Technology Fund and Khazanah Nasional Berhad, a fund belonging to the Malaysian government. Previous backers Unilazer, IDG Ventures and Kalaari Capital also joined the round, which brings the company’s total funding to more than $45 million. TechCrunch has more here.
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Exits
It’s official. AOL is buying Millennial Media for $238 million after accounting for debt. (Forbes calls it a “mercy killing.”) TechCrunch has more here.
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People
Kleiner Perkins Caufield & Byers has promoted one of its general partners, Wen Hsieh, to managing member, reports Fortune. The additional title lets Hsieh approve investments across the firm.
Anthony Pompliano, a product manager that led growth and engagement for Facebook pages, has joined Snapchat to lead a new growth team. TechCrunch has more here.
Twitter has promoted Jeff Seibert, who’s been running its developer products for more than year, to be its new head of consumer product. Recode has more here.
The FAA has named two new officials to lead its effort to incorporate commercial unmanned aerial systems, or drones, into the U.S. airspace. Reuters has more on who they are here.
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Jobs
Omidyar Technology Ventures is looking to hire an investment associate. The job is in Redwood Shores, Ca.
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Essential Reads
Google said that starting in November, it will begin penalizing sites that show these “please install our app” ads — the kind that obscure what’s on the page — by deeming them less mobile friendly. Critics say the move isn’t fair.
A California judge has approved a $415 million settlement between tech workers and Intel, Google, Apple and Adobe Systems, which were accused of conspiring to prevent the poaching of each other’s employees.
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Detours
We’re probably getting enough sleep after all, suggests new research.
Israel’s favorite Palestinian calls it quits.
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Retail Therapy
Tesla’s Model 3 is coming . . . in two years. But you can pre-order yours in March!