CEO Vishal Garg says he’s in trouble for $750 million SoftBank loan – TechCrunch

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It’s Friday the 13th, and I hope nothing outrageous will happen to you today. At least the weekend is here! At the very least, you can catch up on the latest news from Terraform Labs – Binance has suspended trading from Luna and UST – and some great podcasts from your favorite TechCrunchers. And be sure to secure your “seat” to attend the June 1 TechCrunch Live event in Columbus. See you Monday! – Christine

Top Tech Crunch 3

  • If Elon doesn’t buy Twitter, at least Snoop Dogg is ready to pounce: Early this morning, Elon Musk tweeted that his proposed purchase of Twitter was on hold as he was figuring out what percentage of fake accounts are using the social media channel. Although he also tweeted, he’s still “committed to the acquisition”, I enjoyed seeing him Snoop Dogg Tweet He would probably want to run down on her if Mask didn’t. His plan for that isn’t bad, actually.
  • Eating out at Dineout: In some news of mergers and acquisitions of online food ordering, Swiggy said it has acquired Dineout, the Indian equivalent of OpenTable. That puts Swiggy squarely in the dining out segment, which has been dominated for some time in the country by Zomato, whose market value has fallen to about $5 billion. It also represents further consolidation within a giant market trying to understand the increase in the epidemic.
  • More layoffs: Natasha and Amanda were really busy last week catching up on countless tech layoffs, unfortunately we have another list today that includes Section 4, Carvana, and Lach. Even the dead are not immune.

Startup and VC

  • On the hook: Here’s what CEO Vishal Garg says about the $750 million SoftBank loan. By taking Garg personally responsible for the loan, he is responsible for any losses. However, the company could also be affected because any losses would require him to sell a lot of his holdings on, which could negatively affect the stock. It’s still a mess no matter how you look at it.
  • I wear your independent brands: China-based company Body404 is betting that the West will embrace the next generation of clothing designers who want to give them something that isn’t just a cheaper knockoff on the runway. It has paid off in that the company is now valued at $50 million after raising $50 million in March. It’s also interesting to note that customers don’t return clothes – Body404’s return rate is around 2%, well below the fashion industry average of 10%.
  • Enjoy a cause: Frank Rigg, who sits at the helm of Revel, a company that builds fast charging centers for electric vehicles, complained about Rebecca To discuss the company’s shift from co-scooters and the mileage Revel has traveled to drive electric vehicle adoption.
  • Watch and earn money: Our attention has value and is often pulled in different directions. WeAre8 wants to reward you for doing what our DVR has enabled us to skip for many years now – watching ads. The company is led by advertising guru Sue Fennessy, who aims to direct ad funding away from social media giants like Facebook and direct it to a good cause.

Pitch Deck Teardown: Dutch Series A Series A Worth $20 Million

Playground deck covering slide with cute dog, word DUTCH, and TechCrunch Pitch Deck Teardown overlayed

Image credits: Dutch

As CEO and founder of the Dutch virtual veterinary care platform, Joe Spector initially aimed to raise $15 million in Series A, but his presentation skillfully blended images of cuddly pets with market research and traction metrics, and ended up closing $20 million.

With flair, Dutch’s business group tells a compelling story of how the company used its seed funding to launch a service in three months, create a brand identity, build a team, and expand from 12 to 32 states, Pilgrim Jean Camps wrote in the weekly Pitch Teardown.

If you’re into an outline presentation and need inspiration, start here: All 17 slides are available to TC+ members.

(TechCrunch+ is our membership program, which helps founders and startup teams move forward. You can sign up here.)

Big Tech Inc.

Row Row Row Row your Peloton: That’s right guys, Peloton is trying to end a tough week on a positive note by adding yet another paddle to its competitive rowing machine market. After selling my Peloton bike in 2019, this caught my eye as I discovered a love for paddling. Hopefully the price is more suitable for my budget compared to a bike.

Zoom is getting its own customer service day: The video communications giant is acquiring AI chatting company Solvvy in a bid to offer customer service experiences within its Zoom toolkit. News of the company’s stock soared, so it appears Zoom chose it wisely.

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