Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa Bay news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Charlotte news in your inbox

Catch up on the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

eShares raises $41 million to play both sides of tech IPOs

Dan Primack, author of Pro Rata

Illustration: Sam Jayne / Axios

eShares, a Silicon Valley-based provider of equity management software, has raised $41 million in Series C funding co-led by Social Capital and Menlo Ventures.

Why it matters: Because proceeds will be used to help eShares expand beyond private company stock management. CEO Henry Ward says that the company already has deals with some VC-backed startups to manage their public stock ledgers post-IPO, with hopes someday of possibly launching its own exchange.

Context: The funding comes the same week as Solium Capital (TSX: SUM) acquired Capshare for its own cloud-based equity management platform.

Bottom line: eShares is really a byproduct of the IPO delay game, which has created bloated cap tables and liquidity frustrations for early employees. By adding public stock management, it hopes to essentially hedge against a trend-line reversal.

Go deeper

Alayna Treene, author of Sneak Peek
18 mins ago - Politics & Policy

Minority Mitch still setting Senate agenda

Illustration: Aïda Amer/Axios

Chuck Schumer may be majority leader, yet in many ways, Mitch McConnell is still running the Senate show — and his counterpart is about done with it.

Why it matters: McConnell rolled over Democrats unapologetically, and kept tight control over his fellow Republicans, while in the majority. But he's showing equal skill as minority leader, using political jiujitsu to convert a perceived weakness into strength.

Go deeper (2 min. read)Arrow
Axios
Updated 21 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Eniola Odetunde/Axios

  1. Health: Pandemic fatigue quantified — Coronavirus could be worsening childhood obesity.
  2. Vaccine: Biden floats prospect of 1.5 million vaccinations a day — Moderna says vaccine appears to protect against new COVID-19 variants.
  3. Politics: Deborah Birx went "on the road" for local COVID efforts to avoid White House censorship — Sanders says Democrats will push coronavirus relief package through with simple majority.
  4. Business: Budweiser skips Super Bowl ads in favor of vaccine education campaign.
  5. World: First U.S. case of COVID-19 variant from Brazil confirmed in Minnesota — Mexican President López Obrador tests positive for coronavirus.
  6. 🎧 Podcast: Google's chief health officer Karen DeSalvo on vaccinating America.
Go deeper (1 min. read)Arrow
Hans Nichols, Alayna Treene
22 mins ago - Politics & Policy

Schumer rattles reconciliation saber

More than an aisle separates Mitch McConnell and Chuck Schumer, seen in the Senate Chamber after the Capitol siege. Photo: Drew Angerer/Getty Images

Chuck Schumer is expected to telegraph, as soon as tonight, that he will use his political muscle to pass some of his party’s priorities — like President Biden's $1.9 trillion stimulus package.

Why it matters: While the Senate majority leader wants to work with Republicans on key legislation, advisers say, he will make clear that using the simple majority vote inherent in the budget reconciliation process is one of the big sticks at his disposal.

Go deeper (1 min. read)Arrow