Tech CEO Vishal Garg says he’s on the hook for a $ 750 million SoftBank loan – TechCrunch

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Friday the 13th, and I hope nothing bad happened to you today. At least the weekend is here! At least you can catch up with the latest Terraform Labs news – Binance stopped trading Luna and UST – and some great podcasts from your favorite TechCrunchers. And don’t forget to secure yourself a “place” for our June 1st TechCrunch Live event in Columbus. See you on Monday! – Christina

Top 3 TechCrunch

  • 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 had been postponed while he calculated the percentage of fake accounts via a social media channel. Although he also tweeted, he remains “committed to the acquisition,” I enjoyed seeing Snoop Dogg’s tweet his desire may run away if Musk does not. In fact, his plan is good.
  • Dine at Dineout: In some news about ordering food online Swiggy said it is acquiring Dineout, the Indian equivalent of OpenTable. This puts Swiggy directly into the restaurant sector, where the country has long been dominated by Zomato, whose market capitalization has dropped to about $ 5 billion. It also represents an additional consolidation in the giant market, which is trying to figure out its intensifying pandemic.
  • More layoffs: Natasha and Amanda were already busy last week catching up with many technology layoffs, and unfortunately today there is another list that includes Section4, Carvana and Latch. Even Meta is not insured.

Startups and IR

  • On the hook: Here’s what CEO Vishal Garg talks about SoftBank’s $ 750 million loan. Garg takes personal responsibility for the loan, he is responsible for any losses. However, the company may also suffer because any loss may require it to sell a large number of its shares to, which could negatively affect the shares. Still a mess, no matter how you look at it.
  • Dress you up in indie brands: China Body404 is betting that the West will adopt the next generation of clothing designers who want to give them something that is not just a cheaper forgery of the runway. This pays off with the fact that the company is now valued at $ 50 million after raising $ 50 million in March. It is also interesting to note that customers do not return clothes – the return rate of Body404 is about 2%, which is much less than the average for the fashion industry 10%.
  • Revel in the occasion: Frank Reig, sitting at the helm of Revel, a a company that builds fast charging hubs for electric vehiclescaught up Rebecca to discuss the company’s transition from moped sharing and the distance Revel has traveled to drive an electric car.
  • Watch and get paidA: Our attention is valuable and often stretches in different directions. WeAre8 wants to reward you for the fact that the DVR allows us to skip for years – to watch commercials. The campaign is led by advertising guru Sue Fennesi, who seeks to divert advertising funding from social media giants like Facebook and direct them to a good cause.

Disassembly of the Pitch Deck deck: A series deck Dutch for $ 20 million

Slide cover of Pitch Deck with a cute dog, the inscription DUTCH and TechCrunch Pitch Deck Teardown

Image credits: Dutch

As CEO and founder of the Dutch virtual veterinary platform, Joe Specter originally intended to raise $ 15 million for the A-Series, but his site so skillfully blended visuals of cute pets with market research and traction figures that he eventually closed the round at 20 millions of dollars.

The Dutch deck with flair tells a compelling story of how the company used its initial funding to launch the service in three months, create a brand identity, build a team and expand from 12 to 32 states, writes Haje Jan Camps in the weekly Pitch Deck Disassembly.

If you are working on a platform and you need inspiration, start here: all 17 slides are available to TC + participants.

(TechCrunch + is our membership program that helps founders and startup teams move forward. You can register here.)

Big Tech Inc.

Oars, oars, oars your PelatonA: That’s right, people, Peloton is trying to finish hard week on a positive note, adding another paddle to the competitive rowing market. After selling my Peloton bike in 2019, it caught my attention when I discovered a love of rowing. I hope the price tag is a little more friendly to my budget than the bike.

Zoom gets a day of customer service: The video communications giant is acquiring the talking AI company Solvvy to offer customer service in the Zoom toolkit. The company’s stock is rising on the news, so it seems Zoom chose wisely.

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