Arm pops ~25% in trading debut, Flexport revenue dropped ~70% in H1

In its trading debut, Arm shares jumped ~25% to ~$63.59/share, representing a $64B+ market cap; SoftBank still controls 90%+ of Arm’s outstanding shares - Link

The Information sources: Flexport burned $300M in cash as revenue dropped 70% to ~$700M in H1 2023; last week, founder Ryan Petersen returned as CEO after Dave Clark was ousted; the company says it has $1B+ in net cash - Link

Bloomberg sources: Microsoft's attempt to avoid further regulatory scrutiny and potential penalties by unbundling Teams did not satisfy EU regulators, who are preparing a formal antitrust complaint against the company - Link

Forbes sources: Linear, a startup building a suite of dev tools, raised a $35M Series B at a ~$400M valuation led by Accel; customers include Cash App, Loom, Ramp, Cohere, and Runway - Link

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Boll & Branch CEO Scott Tannen joins Jason to discuss taking control of the supply chain (11:40), building a trusted brand through transparency (18:12), the importance of boots-on-the-ground methodology (28:02), and much more! - Link

Binalyze, an Estonia-based cybersecurity startup, raised a $19M Series A led by Molten Ventures; the company specializes in digital forensics and incident response solutions - Link

Pixel, an AI-powered marketing platform, raised an $85M Series C1 led by Touring Capital; the company claims it has reached $50M in ARR and counts DHL, Sears, and Joe & The Juice as customers - Link

Helsing, a Germany-based startup building defense tech software for EU armies, raised a €209M round led by General Catalyst at a ~€1.5B valuation - Link

This Week in Startups

E1807: Transforming DTC via supply chain innovations with Boll & Branch CEO Scott Tannen

E1806: Palo Alto Networks CEO Nikesh Arora on cybersecurity in the age of AI

E1805: Building for the circular economy and the future of shopping with Poshmark’s Manish Chandra

E1804: Sequoia’s Reolof Botha on “Crucible Moments” and the state of VC

E1803: David Sacks and Ethan Ruby on launching SaaSGrid

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