Convoy raises $62M for trucking network
Convoy, an on-demand service for connecting shippers and trucking companies, has raised $62 million in a Series B round. Y Combinator led the financing for the two-year-old, Seattle-based startup, with participation from Bill Gates, Mosaic Ventures, Barry Diller and others.
Facebook acquires Source3
In an apparent move to bolster anti-piracy tools for content creators, Facebook is acquiring Source3, provider of a platform for recognizing and managing intellectual property in user-generated content. New York-based Source3 previously raised about $4 million in venture funding.
VC funding looks strong, exits weaker
The latest venture industry stats show new, big funds, big rounds, and other bullish indicators. But while that side looks healthy, the exit market is lacking, with a tepid IPO market and slow M&A pace. To help catch up on trends, Crunchbase News has aggregated all of our second quarter reports in one place. In other news, we look at how Alphabet is curtailing losses in its “other bets” projects.
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