Good morning friends, and welcome back to TechCrunch Stock Monday, a short format audio hit to start your week. Regular stock episodes still drop on Friday morning, so if you've listened to the show over the years, don't worry – we won't change a bit. (Here it is last week's episode who took a look at the last round of The Athletic, in case you missed it.)
This Monday was bad news. The weekend was full of news, not very good.
Continued concerns about the spread of coronavirus led to stock selloffs in Asia and Europe. In the United States, markets seem ready to follow suit. Concerns arise because startups already had be under pressure from investors to show a quick path to profitability. Now, his public compositions are also on fire.
On top of that, today, a huge two-week profit is made from technology companies worth trillions of dollars. This is not a great time for that. (As we noted in the program, the economic side of the outbreak is a small part of the story; it seems a little crude to cover the moment from the dollar perspective, but this is our lens in particular.)
We also conducted three rounds of financing, including MURAL & # 39; s $ 23 million Series A, Otter.ai & # 39; s US $ 10 million Series B, and Sawee's $ 2.3 million round focused on last mile logistics. (As a product, I cannot recommend Otter enough.)
Wrapping, a story from the Wall Street Journal it got stuck in my head the whole weekend. According to Eliot Brown of the newspaper, Lime and DoorDash have been out of the markets trying to raise money recently. None of them did. If stocks continue to sell, what happens next to the infamous unicorns?
That's what we have for you today. More on Friday morning.