Instacart closes first day up 12%+, FTX sues SBF's parents

Instacart closed its first day of trading up 12%+, giving it a market cap of ~$11B, after initially popping ~40% in the early hours of trading - Link

FTX is suing SBF’s parents in an attempt to recover millions of dollars of what the company alleges are “fraudulently transferred and misappropriated funds”; accusations in the lawsuit include exploiting the company’s corporate structure to facilitate the transfer of a $10M cash gift - Link

Blockchain Capital closed $580M across two new venture funds: its sixth early-stage fund (~$387M) and its first opportunity fund (~$193M); the firm will focus on six sectors, including gaming, DeFi, and consumer/social - Link

The Chan Zuckerberg Initiative is funding the construction of a GPU cluster consisting of 1K+ Nvidia H100s to help researchers apply advances in LLMs to biomedicine - Link

MasterClass. Learn from the world’s best minds - anytime, anywhere, and at your own pace. Get 15% off an annual membership to MasterClass at masterclass.com/startups.

Oura CEO Tom Hale joins Jason to discuss his journey to CEO (3:02), subscription-based business models (7:05), navigating ZIRP (39:37), the challenges of scaling a hardware business (45:00), and so much more! - Link

Electrify Video Partners, a startup that acquires 50-100% of a YouTube creator’s business and then increases the production quality and volume, raised $85M from PE firm Capital D - Link

Crowdstrike confirmed the acquisition of Bionic.ai for a reported ~$350M, and will merge Bionic’s software with its Falcon product - Link

Cato Networks, an Israel-based cybersecurity startup geared for remote teams, raised a $238M round led by Lightspeed at a $3B+ valuation - Link

New court documents in the FTC v. Microsoft case revealed an Xbox Series X redesign codenamed “Brooklin” coming in 2024; features include: all-digital design with no disc drive, 2TB of storage, cylinder shape - Link

This Week in Startups

E1812: Oura CEO Tom Hale on Hardware-as-a-Service, navigating ZIRP, journey to CEO & more

E1811: OpenAI and Google race to launch multimodal LLM plus AI demos with Sunny Madra

E1810: Next Unicorns: The Path to Reaching Net Zero with Avnos CEO Will Kain

E1809: Transforming DTC via supply chain innovations with Boll & Branch CEO Scott Tannen

E1808: Expanding AI chip capabilities beyond Nvidia with Modular CEO Chris Lattner

Vanta - Get $1000 off your SOC 2

MasterClass - Get 15% off an annual membership

LinkedIn Marketing - Get a $100 LinkedIn ad credit