WeWork cutting 7% of staff
WeWork, the fast-growing shared workspace startup, is cutting about 7 percent of its staff and plans to temporarily pause hiring, according to a Bloomberg article citing internal emails. The cutbacks come three months after New York-based WeWork raised a $430 million funding round amid plans for aggressive expansion, including new workspaces in Asia and the U.S. launch of a private bedroom rental business called WeLive.
Qadium raises $23M to organize Internet of Things
Quadium, a San Francisco startup with a stated mission to “create and organize knowledge about the world’s devices,” has raised $23 million in new financing, according to a securities filing. NEA managing partner Scott Sandell led the Series A round, according to a Forbes article that described the company’s business plan as an attempt to create a Google for the Internet of Things.
Startup demand and funding supply mismatched in many U.S. cities, study finds
Everyone knows Silicon Valley has a plentiful supply of both entrepreneurs and startup investors. But how does the supply-demand ratio stack up in other U.S. regions? A team of Harvard researchers set out to answer that question with a spatial visualization of 57,000 VC investments from the CrunchBase dataset. They found that some innovation hubs, like North Carolina’s Research Triangle, draw a lot of investment from other regions. Other metro areas, like New York, have a net outflow of investment dollars.
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