The Stripe logo on a smartphone with U.S. dollar banknotes in the background.
Budrul Chukrut | SOPA Images | LightRocket via Getty Images
In March 2022, venture capitalist Chris Ahn was pushing to get into a hot crypto startup that was trying to make it easy for businesses to transact using digital currencies.
The company was Bridge Network. As part of his pitch, Ahn flew to a small town in northern Montana with a term sheet in hand for founders Zach Abrams and Sean Yu, who had both previously worked at Coinbase and Block.
“Nobody else had flown out to see them in person,” Ahn, who was a partner at Index Ventures at the time, recounted in an interview on Tuesday.
The three of them hiked together on a path with melting snow, and then conversed over drinks and dinner, as Ahn aimed to convince the founding duo that they should take Index’s money. At the restaurant, he looked to seal the deal.
“I told them I was going to the bathroom, and I ran over to my car, grabbed the term sheet and came back,” Ahn said. “It’s hard to fit a piece of paper in a jacket without crumbling it, and I didn’t want to give them a crumpled piece of paper, so I left it in the car.”
Index landed the investment, getting into Bridge’s seed round in 2022. The firm was part of a more recent round, in August of this year, that included Sequoia and Ribbit Capital and valued Bridge at about $350 million, according to a person with knowledge of the matter who asked not to be named because the valuation was confidential. Also in the deal was Haun Ventures, founded by former Andreessen Horowitz partner Katie Haun.
Ahn left Index to join Haun in 2022. Both his old firm and his new employer have reason to celebrate this week, after Stripe agreed to buy Bridge for $1.1 billion. With that outcome, Index and Haun are poised to triple their investment in a matter of months.
An Index spokesperson declined to comment.
It’s a particularly notable exit for venture investors during an extended IPO drought, and marks a big win for crypto, which has had few of them despite bundles of cash pouring into the industry.
For Stripe, one of the most richly valued tech startups, the Bridge purchase will be its largest to date. Bridge said the transaction is still subject to regulatory approvals and other conditions and is expected to close in the coming months.
‘Serious about stablecoin’
Bridge describes itself as the Stripe of crypto, specializing in making it easier for businesses to accept stablecoin payments without having to directly deal in digital tokens. Stablecoins are a type of cryptocurrency whose value is pegged to the value of a real-world asset like the U.S. dollar. Customers include Coinbase and SpaceX.
“It’s a sign that Stripe is serious about stablecoins and crypto,” Ahn said. “Payments were the original use case for crypto, and it’s finally here.”
Stripe is paying a hefty premium.
Investors familiar with Bridge’s financials said annual revenue is in the range of $10 million to $15 million. At the low end of the range, that’s a multiple of 110 times revenue, and at the high end, it’s a revenue multiple of over 70.
“The reason why Bridge is so valuable is because it’s prohibitively difficult for a company to use this new stablecoin tech without developer tools that makes the tech easy to use,” said Ahn.
Nic Carter of Castle Island Ventures said that while Bridge has rivals in the category, it’s the most successful stablecoin infrastructure business in the world, excluding the issuers like Circle and Tether.
“Almost every stablecoin startup we talk to is building on Bridge in some capacity whether it’s orchestration or issuance,” said Carter. “They are totally ubiquitous.”
Stripe saw its valuation plummet from $95 billion in 2021 to $50 billion last year, as private tech companies across the board took a major hit from the recalibration of the public markets. Its valuation reportedly rebounded to $70 billion this year as part of a secondary share sale.
Patrick Collison, chief executive officer and co-founder of Stripe Inc., left, smiles as John Collison, president and co-founder of Stripe Inc., speaks during a Bloomberg Studio 1.0 television interview in San Francisco, California, U.S., on Friday, March 23, 2018.
Bloomberg | Bloomberg | Getty Images
Brothers Patrick and John Collison, who founded Stripe in 2010, have intentionally steered clear of the IPO process and have given no indication that an offering is on the near-term horizon. They’ve got a big business, with total payment volume surpassing $1 trillion in 2023.
Given private market demand for the company’s stock, the company has been able to offer some liquidity to early investors and employees in other ways.
“The private markets have been so generous with providing capital and secondary liquidity to shareholders that, if I’m the Collison brothers and I’m sitting around the table, I’m thinking, ‘Why do I want to go public?'” said David Golden, a partner at Revolution Ventures who previously led JPMorgan Chase’s tech investment banking practice. “Why bother if the private markets are willing to reward you with basically public market premiums and valuations and let you have secondary sales to keep your employees happy?”
Collison called stablecoins “room-temperature superconductors for financial services” in his post, and said that Stripe is going to build the world’s best stablecoin infrastructure.
Bernstein analysts are bullish on what the deal means for the $160 billion U.S. dollar-pegged stablecoin market, noting in a report that the acquisition “validates the usage and growth of stablecoins as a legit use case for public blockchains.”
Back in 2018, when most electric motorcycle startups were showing off what looked like clunky science experiments or budget-minded e-scooters, a little company out of Stuttgart quietly unveiled one of the wildest-looking two-wheelers I’d ever seen. As one of the first motorcycle journalists to cover Sol Motors and their outlandish debut seven years ago, I’ve been keeping tabs on them ever since. And now I am excited to share that the Sol Pocket Rocket is finally preparing to launch in full production form. Yes, really.
The German company is now taking pre-orders for its uniquely tubular electric motorcycle that somehow looks like a mashup between a torpedo, an irrigation pipe, and a Star Wars prop. And yet, despite its cartoonish silhouette, it might just be one of the coolest ultra-urban e-motos headed for the streets.
The Sol Pocket Rocket comes in two versions: the standard model and the more powerful Pocket Rocket S. The latter packs an 8.5 kW (roughly 11.4 hp) electric motor that propels the bike to a top speed of 85 km/h (53 mph), while the standard version tops out at 45 km/h (28 mph), putting it in moped territory in many markets.
That makes it a perfect fit for cities, especially in Europe where light electric mopeds and motorcycles are gaining traction among young riders who want something fast, fun, and emissions-free, but without the size, weight, or cost of a traditional motorcycle. The bike’s 2.5 kWh battery may not sound like much, but the company says it offers up to 108 km (67 miles) of range for the lower speed version or 68 km (42 miles) of range for the higher speed version, which is generally more than enough for most urban commutes. The battery is also removable, allowing for convenient charging inside your apartment or office. That can be a neat trick for riders who charge at work, essentially doubling the maximum range they can commute.
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And while we’re on the topic of design – yes, it’s unusual. The Pocket Rocket’s oversized aluminum top tube houses the battery and electronics, while a minimalist seat juts out from the back like a café racer’s rear hump. There’s no bodywork to speak of, giving it a raw and industrial aesthetic that’s either futuristic or ridiculous, depending on the lighting and your mood. But I’ve got to admit, I kind of love it.
The frame, wheels, and swingarm are all nicely machined, giving the whole thing a premium feel, or at least as premium as a potato gun on wheels can look. It’s like if Bauhaus made a Hot Wheels bike that could run on electrons.
Sol Motors is positioning the Pocket Rocket not just as a stylish e-motorcycle, but as a viable alternative to cars for city dwellers who want to skip traffic and parking headaches. It’s light, fast enough for urban streets, and small enough to squeeze into even the tiniest bike parking spot.
Pre-orders are now open and pricing starts at €5,990 for the standard model and €6,980 for the S version. That’s certainly not cheap, but not outrageous in today’s market for well-designed, European-made electric two-wheelers.
Electrek’s Take
I’ve covered a lot of oddball EVs over the years, but the Sol Pocket Rocket has a special place in my heart. There’s something honest about a company that doubles down on such a bold design and actually makes it work. Sure, it looks like a giant spool holder from the wrong angle, but it also looks like a lot of fun from the right angle! And the fact that it’s fast, fun, and actually headed to production means it offers three things that are far from a guarantee in today’s market.
It may have taken the scenic route and had a false start or two, but it looks like the company is finally ready to put that rubber on the road for good this time.
After nearly seven years of anticipation, I’m thrilled to see this bizarre beauty finally hitting the road. And hey, if anyone wants to send one over for a review, my driveway’s been waiting just as long.
They even have this cool charging stand for topping up the battery in your apartment
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Chevy is introducing an updated lineup for the 2026 Blazer EV, including a few slight modifications. Despite the changes, prices will still start at under $45,000.
Although the Equinox EV stole the spotlight, becoming the third top-selling EV behind Tesla’s Model Y and Model 3, Chevy’s electric Blazer has quiety been driving growth. In April, the Chevy Blazer EV was the sixth-best-selling EV.
With “the Equinnox and Blazer right in the heart of the market, they are really benefitting from that,” Tom Libby, an analyst at S&P Global Mobility, explained.
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With the 2026 model years arriving with a few updates, Chevy looks to continue closing the gap with Tesla. Earlier this month, the 2026 Chevy Silverado EV configurator went live with base prices about $10,000 cheaper than the outgoing model. Now, it looks like the electric Blazer will be next.
2025 Chevy Blazer EV SS (Source: Chevrolet)
New order guide data show the 2026 Chevy Blazer EV LT FWD will still start at $44,600, not including the destination fee. The 2026 model year will be available in FWD, AWD, and performance AWD configurations. However, Chevy is dropping the RWD option.
Although the base LT model is priced the same, the 2026 Chevy Blazer RS AWD is $500 more than last year’s model, starting at $50,400.
Chevy Blazer EV RS (Source: GM)
The 615 horsepower Blazer EV SS, the quickest SS Chevy vehicle to date, will still start at $60,600. Like the 2025MY, GM’s Super Cruise is standard on the SS and available for other trims. It costs $3,255 this year, the same as it did in 2025.
Other upgrades for the new model include a new Polar White Tricoat paint option and a standard dual-level charging cord, but it still lacks a NACS port.
Chevy Blazer EV SS interior (Source: GM)
A Chevy spokesperson confirmed to Car and Driver last month that “To simplify the product lineup while still offering the most popular options for consumers, RWD will not be available beginning with the 2026 model year.”
Up next will be the 2026 Chevy Equinox EV, or “America’s most affordable 315+ mile range EV,” as GM calls it. The base 2025 LT model starts at $34,995. Chevy keeping entry-level Blazer prices the same could be a good sign for the Equinox.
2026 Chevy Blazer EV trim
Starting MSRP*
Range (*2025MY EPA-estimated)
LT FWD
$44,600
312 miles
RS FWD
$50,400
312 miles
SS AWD
$60,600
303 miles
2026 Chevy Blazer EV prices by trim (*Does not include destination fee)
With the federal EV tax credit set to expire at the end of September, Chevy is offering some serious savings opportunities. Starting at just $289 per month, the 2025 Equinox EV is hard to pass up. GM is also offering 0% APR across all 2025 Equinox EV, Blazer EV, and Silverado EV models.
Ready to test one out for yourself? You can use our links below to find deals on Chevy EV models at a dealer near you.
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Tesla has expanded the service area of its Robotaxi service in Austin, and it did so to draw a penis-shaped service map, seemingly for no other reason than to satisfy the juvenile humor of its CEO, but what it really achieved is to illustrate how unserious Tesla’s Robotaxi business is compared to other efforts.
The service was launched only for a small group of Tesla stock promoters on X, and it required a Tesla employee sitting in the front seat with a finger on a kill switch at all times.
In other words, it’s basically Tesla’s Supervised Full Self-Driving (FSD) in consumer vehicles, but with the supervisor moved from the driver’s seat to the front passenger seat.
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Tesla also launched into a small area of South Austin, but last week, Musk said that the company would expand the service area by the weekend.
Late on Sunday, Tesla did update the service area, and it now looks like this:
There’s no practical reason to cover this specific section of Austin. The update appears to be solely to satisfy Musk’s famously juvenile sense of humor, which includes fascinations with the numbers “69” and “420”.
Tesla has also been offering rides in Robotaxi (invite-only) for $4.20 a ride.
In practice, what this joke does is illustrate just how unserious Tesla’s Robotaxi effort is in comparison to other autonomous ride-hailing programs.
Waymo already operates a larger area of Austin, and it does so without any supervisor inside the vehicle. It also operates in San Francisco, the Bay Area, Los Angeles, and Phoenix:
Tesla shareholders are holding on to the hope that Tesla will be able to scale faster, but Waymo has even launched in Atlanta since Tesla launched its limited service in Austin, and they are preparing to launch in Philadelphia and New York.
Meanwhile, Tesla still operates with supervisors inside its vehicles – a step that Waymo completed years ago.
Electrek’s Take
Look, I love a joke as much as the next guy, but when the whole service is a joke, maybe don’t draw a penis with the service map.
In China, I rode in Baidu’s Apollo Go, and it simply works without anyone in the car, and it is in operation in half a dozen cities.
It’s cool to see Tesla making progress here, but what’s less cool is the moving of the goalpost that leads to people forgetting that Tesla has promised unsupervised self-driving in all vehicles built since 2016.
Meanwhile, its progress has yet to outpace competition and CEO Elon Musk is out there claiming Tesla is the leader in self-driving with no close second.
It’s a level of delusion that you don’t want to see in someone deploying “self-driving” 5,000-lb machines moving at high speeds on public roads.
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