Fanatics raises $1B from SoftBank
Online sports merchandiser Fanatics has closed a $1 billion SoftBank-led funding round, Reuters reports. Much of the new financing, which values the Jacksonville-based company at $4.5 billion, will go to international expansion.
23andMe eyeing $200M fundraise
Genetic testing and analysis provider 23andMe is raising $200 million in a funding round led by Sequoia Capital, according to a TechCrunch report citing people close to the company. The ten-year-old, Silicon Valley company has previously raised more than $230 million.
Turo raises $92M for car sharing
Turo, a service for car owners to rent their vehicles, announced that it has raised $92 million in a Series D funding round led by Germany’s Daimler and South Korea’s SK Holdings. As part of the deal, San Francisco-based Turo will acquire Daimler-owned Croove, a German peer-to-peer car sharing marketplace.
How early stage funding works
Seed and early stage funding terms are weird and complicated. To help walk would-be founders through a typical fundraising process, Crunchbase News has created a fictitious startup, chicken drone delivery service Internet of Wings, that is looking to scale. Read about it here.
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