Plus, SoftBank may soon dwarf its own $100 billion Vision Fund, Alphabet is leading a $1 billion round for Uber rival Lyft, and how to hang out with yourself as a kid.
Stitch Fix filed its long-awaited IPO on Nasdaq, looking to raise $100 million. The 6-year-old personal styling service and online retailer has 2.2 million active customers; it is seeking a valuation of up to $4 billion. Only a few investors held concentrated ownership positions in the company, so just three VC firms are poised to share any big returns from the IPO: Baseline Ventures, Benchmark Capital and Lightspeed Venture Partners. [Jason Del Rey / Recode]
SoftBank could commit as much as $880 billion to tech investments in the coming years — a gargantuan, unprecedented amount of cash that would amount to a seismic shift in Tech finance. CEO Masayoshi Son — who is already betting $100 billion on the tech sector via his Vision Fund — said he is planning a series of investments in young companies. [Theodore Schleifer / Recode]
One of Uber’s first big investors, Alphabet, is putting a big a chunk of money into Uber’s chief U.S. rival, Lyft. Google’s parent company is leading a $1 billion funding round that values the Lyft at $11 billion; in April, Lyft was valued at $7.5 billion. And the super-secret experimental Google X lab, which is developing “moonshots” like internet-beaming balloons and energy-capturing kites, has hired its own Washington, D.C., lobbying company. [Johana Bhuiyan / Recode]
Three senators launched a bill to regulate political ads on Facebook, Google and Twitter. The Honest Ads Act — the brainchild of Democratic senators Mark Warner and Amy Klobuchar, with Republican support from Sen. John McCain — would require big tech companies to make copies of Political Ads available for public inspection — and disclose who is buying the ads. [Tony Romm / Recode]
Facebook has hit a snag in its effort to help media companies sell subscriptions — Apple. Facebook’s plans to put a subscription tool in its mobile app; Apple wants as much as 30 percent of any subscription revenue Facebook helps generate. In the meantime, Facebook is rolling out a version for Android phones; participating publishers include The Washington Post, Hearst and Tronc, while holdouts include The New York Times and The Wall Street Journal. [Peter Kafka / Recode]
Top stories from Recode
Jeff Bezos christened Amazon’s largest wind farm while 300 feet in the air.
The new Amazon Wind Farm Texas is its largest farm, and one of the company’s 18 clean-energy projects.
Amazon is showing some rare Twitter love to these four states in their new headquarters bid.
North America cities are battling it out to be the location of HQ2
Microsoft and the Green Bay Packers want to score some innovation via a $10 million venture effort.
It’s small, but yet another nod by tech giants to show they care about the rest of America.
What phone should I buy if I’m on a budget?
On the latest episode of Too Embarrassed to Ask, Wirecutter editor in chief Jacqui Cheng makes recommendations for smart-home speakers, laptops, Bluetooth headphones and tablets.
This is cool
This guy Photoshops himself into childhood pics so he can hang out with his younger self.
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