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In the loop: Darktrace raises a massive series E, Elon Musk could lose Tesla and why Instagram founders left Facebook

Written by Angus Shaw on Friday, 28 September 2018. Posted in Insight, Analysis

Before going all out for the weekend find out why the SEC is suing Elon Musk, Darktrace strengthens its position as a unicorn and find out the reason why millennial jobseekers hate gender pay gaps

In the loop: Darktrace raises a massive series E, Elon Musk could lose Tesla and why Instagram founders left Facebook

Darktrace valued at $1.65bn and raises $50m series E

Top notch cybersecurity has become a must-have as the threat of malware grows by the day. Luckily, not only are startups stepping up to face the threat but VCs are evidently eager to invest.

For instance, on Thursday September 27, Darktrace, the cyber defense company, secured $50m in a series E round led by Vitruvian Partners, the private equity company. The previous investors KKR and 101 Ventures also participated. The scaleup is now valued at $1.65bn, putting it well beyond the coveted unicorn status.

Darktrace’s latest round will be used to further grow its global reach, having launched eight offices last year in places like Los Angeles, Mexico city and São Paulo.

Given Darktrace already boasts a two-second response time to cyber threats, who knows what another $50m can do?

Elon Musk faces removal as Tesla’s CEO

Elon Musk boasts a rebellious billionaire persona. But his attitude may now see him forced out of his own company after he allegedly mislead shareholders on Twitter.

The accusations come after the Musk tweeted in August that he was considering taking Tesla private at a $420 share price and that funding had been secured. This would have sparked the biggest corporate buyout in history. However, after backtracking on his claims, the US Securities and Exchange Commission (SEC) decided to sue Musk for fraud. The SEC seeks to not only bar Musk from Tesla but as an officer or director of any US public company. Musk neither denied nor admitted wrongdoing.

The news comes after months where Musk smoked marijuana live on a podcast and called a British diver “pedo guy” on Twitter. It seems like those stressful work hours are getting to him.

Instagram founders pack up after a rumoured clash with Mark Zuckerberg

From the Cambridge Analytica Scandal to seeing the biggest one-day drop in US market history, 2018 hasn’t been Facebook’s year. And it’s not over yet. 

Six years after Facebook acquired Instagram for $1bn, the app’s founders Kevin Systrom and Mike Krieger have parted ways with the company to explore their “curiosity and creativity again.” 

However, it may not have been a fairytale ending. Reuters reports there are speculations the duo clashed with the Facebook leadership and wanted more independence from the mother company, which had allegedly been made difficult with Zuckerberg becoming increasingly more involved in the day-to-day running of the company.

Facebook shares dipped by over 2% the same day as the resignations. It seems that The Zuck’s year keeps on, well, sucking. 

Millennial entrepreneurs refuse to work for companies with big gender pay gaps

The gender pay gap feels like an issue that should have been resolved last century yet it rages on. However, it seems young people have had their fill and turn down jobs because of it.

In a survey of 200 young British entrepreneurs, Young Enterprise, the business education charity, discovered 54% wouldn’t take a gig if it meant working under a company with a large gender pay gap. 74% put the decision down to feeling uncomfortable making more than the opposite gender in the same rank while 54% believe it could affect their careers. Opinions are so strong that a zero pay gap is the second most sought after trait in a company for young jobseekers, only topped by a great salary.

Clearly, businesses need to address pay inequality more than ever to attract future generations of talent.

Most employees wouldn’t change appearance for a job

Nearly all British workers feel employers discriminate against them based on looks, new research from CV-Library, the job site, found this week. Encouragingly most don’t let that get to them.

Marvel’s new female superhero has lessons for entrepreneurs

Next year will see Captain Marvel hit the cinemas. And with the release of its first trailer, we took a deep dive into how the superhero flick will not only diversify the Marvel Cinematic Universe but how it speaks volumes about the entrepreneurial world it parallels.

Franchising can be the perfect option

Looking to launch a business but don’t want to go solo? Pip Wilkins, CEO of the British Franchise Association, may have a solution. This week she explained how the work-life balance franchising offers makes it a natural move for entrepreneurs of all backgrounds. Check it out. 

What everyday Europeans really think about Brexit

Cutting past political smokescreens for Brexit opinions is easier said than done. But when it happens, some interesting things stand out as we discovered.

Tech will change everything about banking as we know it

It’s hardly a secret that challenger banks and fintech startups are changing the way money is being handled today. But the transformation is far from over. Check out how the world of banking will look like in ten years. It’s going to be a blast.

Become an entrepreneurial tour de force by learning from Farfetch’s example

Hot on the heels of London Fashion Week, the fashion e-commerce platform Farfetch went public on Friday September 21. This unicorn’s success has been over a decade in the making and it’s safe to say budding founders can learn a thing or six from José Neves’ story. Fortunately for you, we’ve collected the best insights here. It seems as if haute couture is just getting hauter and hauter. 

About the Author

Angus Shaw

Angus Shaw

With a keen eye for politics as editorial assistant, Angus can often be found scanning the horizon for the next big waves crashing against business shores – which makes up the time when he's not setting sail at Radio Caroline, the former pirate station, on weekends. Follow him on Twitter @Angus_Shaw for his latest cognition

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