Bird, Mixpanel, Grindr on the list


People wearing face masks are seen shopping at a supermarket in Foster City, California, on April 22, 2020.

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A number of venture-backed tech start-ups were among the companies that received loans under a program intended to blunt the economic damage from Covid-19, according to data released Monday by the Trump Administration.

The data follows demands from Democrats for more transparency around the Paycheck Protection Program, or PPP, funds established as part of the $2 trillion CARES Act, which President Donald Trump signed this spring.

The PPP’s goal is to offer forgivable loans to smaller businesses, helping them to stay afloat and employees to maintain their jobs as the coronavirus puts the U.S. economy on hold. Companies that maintain most of their payroll through the span of the loan may convert those funds into a grant.

While the aim of the program was to aid ailing companies with less than 500 employees, its effectiveness has remained unclear. Larger and public companies initially took advantage of loosely written language to tap the funds for themselves.

CNBC compiled a list of the tech-related startups and venture capital firms that received Paycheck Protection Program funding, according to the government list.

  • AllTurtles, an artificial intelligence startup, received between $350,000 to $1 million in loans.
  • Bird Rides, an electric scooter start-up, received between $5 million and $10 million in loans. 
  • Bitmovin, an online video software and infrastructure company, received between $350,000 and $1 million in loans.
  • Byton, an electric vehicle startup, received between $5 million and $10 million in loans.
  • Canoo, an electric vehicle startup, received between $5 million and $10 million in loans.
  • Coffee Meets Bagel, a dating application, received between $1 million and $2 million in loans.
  • Entelo, a source-to-hire recruitment automation platform, received between $1 million and $2 million in loans.
  • Fyusion, a 3D computer vision and machine learning company, received between $1 million and $2 million in loans.
  • Grindr, location-based social and dating app, received $1 million to $2 million in loans.
  • Karma Automotive, an electric vehicle startup, received between $5 million and $10 million in loans.
  • Massdrop, an e-commerce company now known by Drop, received between $2 million and $5 million in loans.
  • Mixpanel, which provides business analytics, received $5 million to $10 million in loans.
  • Mode Analytics, a data platform, received between $2 million and $5 million in loans.
  • Nylas, a communications platform built for software developers, received between $1 million and $2 million in loans.
  • Omnisci, a software company, received between $2 million and $5 million in loans.
  • Quantcast, which helps brands advertise with its artificial intelligence technology, received between $5 million to $10 million in loans.
  • Reputation.com, a business-to-business online reputation management company, received between $5 million and $10 million in loans.
  • Rescale, a cloud simulation platform, received between $2 million and $5 million in loans.
  • Splice Machine, a data platform, received between $350,000 to $1 million in loans.
  • Survata, a brand intelligence platform, received between $1 million and $2 million in loans.
  • Talkdesk, a cloud-based call center hub, received $5 million to $10 million in loans.
  • Taulia, a financial technology business, received between $2 million and $5 million in loans.
  • Turo, a car sharing marketplace, received $5 million to $10 million in loans.
  • Zendrive, which uses mobile sensor data to provide insights that improve safety, received between $1 million and $2 million in loans.

Index Ventures is also listed as having taken a loan between $2 million and $5 million for its fund VIII. However, a company spokesperson said the data was wrong.

“I can confirm that Index Ventures VIII did not apply for a PPP loan at any point,” said the spokesperson. “The entry listed is in error, as although it lists us as a business name, it is not our address or correct information about our fund. Our legal team is looking into why our name is listed and look to correct it ASAP.”

[The full list is available on the Small Business Administration website, which you can access here.]

Lauren Hirsch and Jacob Pramuk contributed to this report.



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