Benchmark’s Gurley leaves Uber board
Bill Gurley, the venture capitalist who led a push to oust Uber CEO Travis Kalanick, has stepped down from the ride-hailing company’s board of directors. He will be replaced by Matt Cohler, another partner at Gurley’s firm Benchmark.
Snap has acquired Zenly, a developer of social mapping tools, for between $250 million and $350 million, TechCrunch reports. The startup’s technology is being used in a new Snap feature called Snap Map. Paris-based Zenly, founded in 2015, previously raised $35 million in venture funding.
Chinese e-commerce giant JD.com is investing $397 million into online luxury retailer Farfetch as part of what’s described as a broader partnership to expand that latter’s reach in China. London-based Farfetch, which features online boutiques of high-end fashion designers, previously raised more than $300 million.
Brick and mortar gets a tech boost, too
E-commerce may be seeing faster growth, but venture capitalists are still bullish on potential for technology to spur brick and mortar sales. Startups working on tools for traditional retailers raised over $380 million in 2016 and have pulled in over $130 million so far this year, according to a Crunchbase News analysis. In other news, we look at what’s behind the sluggish pace of tech IPOs this year.
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