Yandex takes a big hit to get rid of Russian assets

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Hello, and welcome back to Equity, the podcast about the business of startups, where we unpack the numbers and nuance behind the headlines.

This is our Monday show, in which we look back at the weekend and the week ahead. A big thanks to Maggie for stepping back into the Equity seat while Theresa is out today.

Here’s what we got into:

Stocks are mixed around the world as investors digest the possibility of high interest rates persisting for longer. Crypto price movements seem to have eased in recent weeks in the wake of bitcoin spot ETF launches. Yandex’s parent to exit Russia: At a huge cost, it turns out. Given Russian sanctions, owning tech assets inside the country is not a good proposition. But when you sell, you will take more than a haircut. Everbridge is going private: For $1.5 billion, we hasten to add. Not a bad price bump for the 2016-era IPO, but still far from the value it commanded in 2021. And from Startup Land, Wonder Ventures has two new funds, Naboo raised $8 million, and ProducePay put together $38 million to tackle food waste. We closed out with this fascinating CNN story about how a finance worker was scammed out of $25M after a deepfaked conference call.

We’ll be back on Wednesday morning!