Cory Weinberg

New York

Senior Reporter and Deputy Bureau Chief at The Information

suffer from male pattern boldness. reporting on tech & finance @theinformation. @ColumbiaMBA. Let's talk tech (confidentially). Signal: 561 818 3915

Featured in: Favicon

theinformation.com Favicon

nytimes.com Favicon

bloomberg.com Favicon

bizjournals.com Favicon

slate.com

insidehighered.com Favicon

streetinsider.com Favicon

politifact.com Favicon

pitchbook.com Favicon

gwhatchet.com + 4 more

Articles

How Deel’s Combative Father-Son Duo Sparked a Spy Scandal

2 weeks ago | theinformation.com | Cory Weinberg

Philippe Bouaziz has always expected his only son to fight—and to fight alongside him. He made his hope plainly apparent on the day he chose his son’s name: Alexandre, a deliberate homage to Alexander the Great, the ancient Macedonian conqueror, Philippe has told people with evident pride. The name tied Alex closely together with his father. After all, Alexander the Great’s own father was named Philip.
A ‘Biblical’ Test of AI Investor Faith

3 weeks ago | theinformation.com | Cory Weinberg

OpenAI CEO Sam Altman described the awe-inspiring usage of ChatGPT’s new image generation tool a few days ago as “biblical.” His use of religious terminology fits the moment. The money that Altman, Elon Musk and tech giants require to finance chips, data centers and power is a test of faith for Wall Street. You see it in OpenAI’s $40 billion funding round, the largest ever by far for a startup. The money came from SoftBank, the ultimate true believer.
The Winners in CoreWeave’s IPO, and Why VCs Missed Out

3 weeks ago | theinformation.com | Cory Weinberg

CoreWeave’s initial public offering, which started trading today, had a rocky path to the market but delivered a windfall to Magnetar Capital. The investor bet big on the AI data center startup but presciently protected itself from the risk of big losses. Magnetar invested in CoreWeave when others wouldn’t touch it, and that helped it get the favorable terms that turned about $850 million in equity into $4.3 billion, based on the $40 a share IPO price, without exposing it to significant risk.
CoreWeave Raises $1.5 Billion in IPO

3 weeks ago | theinformation.com | Cory Weinberg

Source: The InformationAI cloud provider CoreWeave said it raised $1.5 billion in its IPO Thursday, a smaller amount than it had expected after investor enthusiasm for the offering waned. It will be begin trading on Nasdaq Friday. The deal, at $40 a share, would value the company at $23.3 billion, on a fully diluted basis. The company had been hoping to raise as much as much as $2.6 billion at a $32 billion valuation earlier this week.
CoreWeave’s Shaky IPO Signal

3 weeks ago | theinformation.com | Cory Weinberg

CoreWeave is the first company trying to test Wall Street’s appetite for a new, tasty artificial intelligence offering. And investors don’t seem to like what they’re being served. The company priced its initial public offering tonight at $40 a share, putting a roughly $23 billion valuation on CoreWeave, according to CNBC. That’s way down from the $32 billion price bankers had been floating in recent weeks.
Stripe Minted More Than $2 Billion in Cash Last Year. Why Go Public?

4 weeks ago | theinformation.com | Cory Weinberg

Stripe is putting up the kind of numbers that would send its stock soaring, if it had public stock. The payments processing firm doubled its free cash flow last year to about $2.2 billion and grew revenues about 28% to $5.1 billion, according to financial figures obtained by The Information. This year’s tech initial public offering parade is preparing to start. Sadly for public market investors, though, most of the best-performing private tech companies are not lining up to march.
This IPO Slate Won’t Have Many Major VC Winners

4 weeks ago | theinformation.com | Cory Weinberg

Three technology companies are preparing to go public with valuations north of $15 billion over the next few weeks. So, cue the balloons on Sand Hill Road, the party at the Rosewood, the juicy bonuses for venture capitalists? Not so fast. The largest shareholder of AI cloud upstart CoreWeave is a debt-focused hedge fund. The biggest backer for ticket reseller StubHub is a family office.
StubHub's Pricey IPO Ticket

1 month ago | theinformation.com | Cory Weinberg

For the second Friday in a row, a long-anticipated IPO candidate made it official. Last week it was Klarna, and today it’s StubHub. And as I read StubHub’s prospectus today, I couldn’t help but think of a twist on an old idiom: Hell hath no fury like a founder scorned. The filing revealed that Eric Baker—StubHub’s founder, who was fired from the business two decades ago only to buy it back from eBay with the help of big financial backers—is going to great lengths to make sure he’s not ousted again.
Insight’s Wiz Win; CoreWeave’s Skeptics Speak Up

1 month ago | theinformation.com | Cory Weinberg

Wiz’s $32 billion sale to Google is giving at least one venture capital megafund a case study for why it can pay to double and even triple down on top startups. Insight Partners, the VC and private equity giant that owns 8% of Wiz, wrote to limited partners Tuesday that the transaction turned a $213 million investment into $2.6 billion. Including sales of shares made last year, Insight estimates it returned more than 15 times the capital from its investments.
CoreWeave Faces Reality Check on Bullish Growth Forecasts

1 month ago | theinformation.com | Cory Weinberg

Last fall, artificial intelligence star CoreWeave shared astounding financial projections with private investors. It projected that revenue would quadruple to $8 billion in 2025 and cash burn would shrink by more than one-third to $4 billion, according to confidential investor documents. Those expectations appear a lot more sober now, as the company prepares for its Wall Street debut.