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Inside Founders (Mar 1st, 2019)

1. Lyft has officially filed its plans to take the company public. Co-founders John Zimmer and Logan Green released a letter March 1 following their company's confidential IPO filing late last year. In the letter, Zimmer and Green, who co-founded Lyft in 2012, provide estimated data about the company's impact on personal car use, indicating 300,000 of its riders have relinquished their cars. The founders also discuss their personal stories: Green launched the University of California Santa Barbara's first ride-sharing program when he was a student, while Zimmer's interest in sustainable transportation was sparked during a Green Cities course. The prospectus also states that Lyft had $2.2 billion in revenue last year and $911 million in losses. — BUSINESS INSIDER

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2. A new study quantifies the low rate of venture capital funding for minorities and women-founded startups. The report, assessing five years of deals, nearly 10,000 founders and 135 venture capital firms active in startup investment, concludes that only one percent of venture capital-backed startups were made to black founders, with women receiving nine percent of such investments. Overall, approximately 77 percent of founders backed by venture investment were white and male. Asian founders were the next highest funded group at close to 18 percent. The report also analyzes geographic location for venture capital investment, with Silicon Valley-based startups receiving 42 percent of investments. — CRUNCHBASE

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3. Yelp has added a feature for women-owned businesses to identify themselves as such in their listings. The move comes as a result of a partnership between Yelp and fashion founder Rebecca Minkoff's Female Founders Collective, formed last year. Female Founders Collective was created to increase awareness for women-owned businesses, as well as support expansion and investment overall in female-founded companies. Other plans include providing women-owned businesses with a seal to identify themselves to customers. The new Yelp feature was launched to coincide with Women's History Month and already includes several thousand businesses. — FORTUNE

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4. Prioritize. Adapt. Invest in your company's culture. These are a few examples of advice in Inc's ongoing Founders Project. Kind Founder and CEO Daniel Lubetzky says prioritizing helped grow Kind from a company offering nine nut bars to more than 70 products. Payal Kadakia, founder and chairman of ClassPass, says adaptability is key in light of fast-changing marketplaces. And Nicolas Jammet, co-founder and chief concept officer at Sweetgreen, notes that investing in that company's culture with projects such as its Family Fund has allowed it to maintain its ethos while scaling. — INC.

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Welcome to Flashback Friday, when we take a look at the recent and distant past in the world of Founders. If you have ideas or tips for this weekly feature, please send them in to founders@inside.com.

Ten years ago this month, a tell-all book received lots of coverage for its exposé of the reigning social media giant of the time: MySpace. Stealing MySpace: The Battle to Control the Most Popular Website in America by then-Wall Street Journal reporter Julia Angwin chronicled founders Tom Anderson and Chris DeWolfe's complicated trajectory in launching the company as a response to Friendster, and its prospects against a rising new social media site: Facebook. Rupert Murdoch's acquisition of MySpace in 2005 also looms large in the history (he then sold it in 2011). Both Anderson and DeWolfe left MySpace in 2009. Anderson now lives in Hawaii and is a landscape photographer with a large Twitter following. DeWolfe is co-founder and CEO of games company Jam City. Author Angwin is a senior reporter at ProPublica. MySpace still exists.

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5. Binary Capital co-founder Justin Caldbeck is suing fellow co-founder Jonathan Teo, alleging the latter mismanaged the now-defunct investment firm after Caldbeck’s departure in 2017 following sexual harassment allegations. Teo subsequently also left the beleaguered company. — TECHCRUNCH

6. Startup Studio Human Ventures has a new $50 million fund, which it plans to use to add new founders, as well as follow-up funding for the 22 founders in which it's already invested over the last four years. — FAST COMPANY

7. Pitchbook has created a VC Female Founders Dashboard that drills down the numbers for venture investment in women founders. Among other statistics, the searchable data analyzes such investments by geography, industry and deal stage. — PITCHBOOK

8. Y Combinator is transforming its selective online Startup School into a Massive Open Online Course. The shift comes after the program, which previously only accepted 3,000 students, accidentally admitted 15,000 last summer. — RECODE

9. Bumble founder Whitney Wolfe Herd is lobbying the Texas Legislature to pass a bill that would make sending unsolicited nude or sexual photos a misdemeanor, and fine offenders up to $500. Wolfe Herd's involvement in the issue, which she says she hopes to take to the federal level if successful in Texas where her online dating company is based, came from concern over her customers' safety. — INC.

10. A recent survey by financial services firm Kabbage Inc. of 500 of its business-founding customers reveals that more than half have gone months without paying themselves in order to manage cash flow. Sixty-three percent of the entrepreneurs report money-related stress concerns. — FORBES.

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Julia Goldberg is a journalist and author living in Santa Fe, New Mexico. She writes regularly about the intersection of technology and culture, and is the executive director of MIX Santa Fe, a networking organization for entrepreneurs. She writes the Inside Founders newsletter and can be found on Twitter @votergirl.

Editing team: Kim Lyons (managing editor at Inside, a Pittsburgh-based journalist with recent bylines in the NYTimes and Columbia Journalism Review.) and Susmita Baral (senior editor at Inside, recent bylines in NatGeo, Teen Vogue, and Quartz. Runs the biggest mac and cheese account on Instagram).

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