Snap shares plunge on earnings miss
Snap reported its first-ever quarterly earnings, and investors did not like what they heard. Shares fell over 20 percent in aftermarket trading after the company reported losses far exceeding analyst expectations. Revenue was just shy of $150 million, also below what analysts expected.
Clover Health raises $130M at $1.2B valuation
Clover Health, an insurance startup that uses data science for preventative health care, has raised $130 million in new financing from GV and other investors, according to a Bloomberg report citing unnamed sources. The new round reportedly values the three-year-old company at $1.2 billion.
Google buys VR game maker Owlchemy
Google announced that it is acquiring Owlchemy, an Austin-based developer of virtual reality games. Founded in 2010, Owlchemy previously raised about $5 million in venture funding.
Comcast snaps up Craftsy
Craftsy, an online destination for crafting enthusiasts, has sold to Comcast NBCUniversal for an undisclosed sum. Denver-based Craftsy previously raised more than $100 million in venture funding.
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