Today's Washington, D.C. lesson is that $195,000 doesn't buy as much influence as it used to.
Why it matters, beyond America's mobile market no longer consolidating from four major national carriers to three:
WeWork is planning to launch its IPO in September, according to The Wall Street Journal. That's a bit earlier than anticipated, but still within the "second half of 2019" time-frame that the company had been signaling. An investor day remains scheduled for a week from today.
🕒 It's Day 11 of Leon Black, CEO of Apollo Global Management, refusing to confirm or deny that his family foundation was the source of a $10 million donation to Jeffrey Epstein's charity in 2015. Multiple reports now say that it was.
🎧 Pro Rata Podcast digs into the Puerto Rico protests, which reportedly will force the resignation of Gov. Rosselló. My guest is NY Times correspondent Frances Robles, who's been on the ground in San Juan. Listen here.
HipCamp, an online marketplace for public and privately-held campsites, raised $25 million in Series B funding. Andreessen Horowitz led, and was joined by return backers Benchmark, August Capital and OATV.
• Gusto, a Denver-based provider of payroll and HR benefits software for SMBs, raised $200 million in new funding co-led by Fidelity and Generation Investment Management. http://axios.link/XhyW
🚑 Freenome, a South San Francisco-based developer of early colorectal cancer testing via blood draw, raised $160 million in Series B funding. RA Capital Management and Polaris Partners co-led, and were joined by Perceptive Advisors, T. Rowe Price, Roche Venture Fund, Kaiser Permanente Ventures, the American Cancer Society and return backers Andreessen Horowitz, GV, DCVC, Section 32 and Verily Life Sciences. http://axios.link/jIzE
🚑 Frequency Therapeutics, a Woburn, Mass.-based drug-maker focused on hearing loss, raised $62 million in Series C funding. Perceptive Advisors led, and was joined by Deerfield Management, RTW Investments, Mizuho Securities Principal Investment and return backers Polaris Founders Capital, Taiwania Capital Management, Axil Capital and CoBro Ventures. http://axios.link/UoyY
🚑 X-Vax Technology, a Jupiter, Fla.-based vaccine developer, raised $56 million in Series A funding from Johnson & Johnson, Adjuvant Capital, Serum Institute, Alexandria Venture Investments and a Founders Fund affiliate. http://axios.link/T6ve
🚑 Benchling, a life sciences R&D cloud platform, raised $34.5 million in Series C funding. Menlo Ventures led, and was joined by Lead Edge Capital, YC Continuity and return backers Benchmark and Thrive Capital. www.benchling.com
• vCita, an Israeli provider of small business management software, raised $15 million led by Forestay Capital. http://axios.link/uchY
• Cambridge Touch Technologies, a UK-based provider of multi-force and touch technologies, raised $10 million in Series B funding. by Kureha Corp. led, and was joined by Puhua Capital, Futaba Corp. and return backers Parkwalk, Downing Ventures, CM Ventures and Amadeus Capital Partners. http://axios.link/G3dt
🚑 Tivic Health Systems, a San Francisco-based bioelectronic medical device startup, raised $8 million in seed funding from Sand Hill Angels, Astia Angels, Golden Seeds, HBS Angels, Sierra Angels, Lateral Capital and Skylight Investments. http://axios.link/rnZD
• Freedom Robotics, a San Francisco-based provider of robotic fleet control and monitoring software, raised $6.6 million in seed funding. Initialized Capital led, and was joined by Toyota AI Ventures, Liquid 2 Ventures and individuals. http://axios.link/6Dez
• EasyMovie, a Paris-based video content creation platform for internal campaigns, raised €5 million from Ring Capital. http://axios.link/zJTu
• FlipGive, a Toronto-based fundraising platform for youth sports teams, raised $5 million in Series A funding from Framework Venture Partners, iGan Partners and FJ Labs. http://axios.link/Osj0
• Pomona, an Indonesian provider of omnichannel marketing and sales software for consumer brands, raised $3 million in Series A2 funding led by Vynn Capital. http://axios.link/CvXp
• Aurora Capital Partners acquired Cold Chain Technologies, a Franklin, Mass.-based provider of single-use and reusable passive thermal packaging solutions.
• AVI-SPL, a Tampa, Fla.-based portfolio company of H.I.G. Capital, acquired Digital Video Networks, a Phoenix-based provider of digital workplace collaboration solutions. www.avispl.com
• Apollo Global Management and Starwood Capital Group each submitted offers to buy General Electric’s (GE) aircraft financing unit, which could fetch over $4 billion, per Bloomberg. http://axios.link/jkPN
• Compass Datacenters, a Dallas-based wholesale data-center developer backed by RedBird Capital Partners and Ontario Teachers' Pension Plan, acquired ROOT Data Center, a Montreal-based wholesale data-center provider. www.compassdatacenters.com
• Cooper’s Hawk Winery & Restaurants, an Orland Park, Ill.-based winery and restaurant operator, raised an undisclosed amount of private equity funding from Ares Management. www.chwinery.com
• Equistone agreed to buy Heras, a Dutch provider of perimeter parking solutions, from CRH (Ireland: CRG).
• KKR agreed to buy Arnott’s, an Australian biscuit and snack-maker, from Campbell Soup Co. (NYSE: CPB) for US$2.2 billion. http://axios.link/vuqp
• WestJet Airlines (TSX: WJA) shareholders approved a C$3.5 billion takeover by Onex Partners. http://axios.link/WmfT
• Apollo Global Management has halted talks to sell French glass bottle maker Verallia, and instead will move forward with an IPO that could value the company at around €4.5 billion, per Reuters. Apollo had been pursuing a dual-track process. http://axios.link/51rf
• L Catterton sold its non-control stake in restaurant chain Punch Bowl Social to Cracker Barrel Old Country Store (Nasdaq: CBRL), with Cracker Barrel saying that it would invest up to $140 million. http://axios.link/h7Ee
☕ Jollibee Foods, a Philippines-listed fast food company, agreed to buy California-based coffee shop chain The Coffee Bean & Tea Leaf for $350 million. http://axios.link/56Mw
• Quad/Graphics (NYSE: QUAD) canceled its $1.4 billion agreement to buy Wisconsin-based printing rival LSC Communications (NYSE: LKSD), following antitrust objections by the U.S. Department of Justice.
• Adam Nelson, a former partner with Social Capital, joined venture firm FirstMark Capital as a partner. http://axios.link/jIox
• Derek Rapp joined RiverVest Venture Partners as a managing director. He previously was president and CEO of JDRF, an organization funding Type 1 diabetes research. www.rivervest.com
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