List of major clients of Silicon valley bank

The shutdown of SVB Financial Group Inc. and its takeover by banking regulators on Friday can be attributed to the U.S. Federal Reserve raising interest rates and dwindling investor appetite for risk.

The development comes as SVB announced a stock sale to shore up its finances, but the plan did not go down well on Wall Street as investors went on a selling spree, triggering a crash in its shares.

Some SVB clients withdrew their money from the bank on the advice of venture capitalists such as Peter Thiel's Future Fund, Reuters reported. That spooked investors such as General Atlantic, which SVB had secured for the stock sale, and the fundraising effort fizzled late Thursday.

Major clients of Silicon valley bank

Silicon Valley Bank (SVB), a prominent lender to tech startups such as Pinterest Inc, Shopify Inc., and CrowdStrike Holdings Inc, has caused turmoil in the market due to recent events. Its parent company's stock price plummeted 60% on Thursday, leading to a surge in deposit withdrawals and ultimately causing the 16th largest bank in the US to fail.

Founded 40 years ago, the Silicon Valley Bank, based in Santa Clara, quickly established itself as a key player in American Tech.

It finances start-ups, giants like Shopify or Beyond Meat, the biggest funds on the planet (Andreessen Horowitz in particular), and works with crypto players... In particular, it manages part of the USDC stablecoin reserve of the American Circle, which confirmed to have a little more than 3 billion dollars of reserve blocked in the establishment.

As soon as the information was confirmed, the 2nd largest stablecoin on the planet (36 billion dollars in capitalization) began to rock. The USDC temporarily lost its parity with the dollar. On Saturday morning, it fell a little below $0.90.

Other Clients

Zola: Zola is an e-commerce company that specializes in wedding planning and registry services. The company was founded in 2013 and is based in New York City. Zola allows couples to create a personalized wedding website, design and manage their guest list, and create a custom registry that includes products from a variety of brands

Tala: Tala is a financial technology (fintech) company that provides mobile-based lending services to underserved consumers in emerging markets. The company was founded in 2011 and is headquartered in Santa Monica, California

Bowery company: Bowery is a modern farming company that leverages technology to grow leafy greens and herbs indoors. The company was founded in 2015 and is headquartered in New York City.

Ziprecruiter: ZipRecruiter is an online employment marketplace that uses artificial intelligence and machine learning algorithms to connect job seekers with employers.

The company was founded in 2010 and is headquartered in Santa Monica, California. ZipRecruiter aggregates job listings from various sources, including job boards, staffing agencies, and company websites, and makes them available to job seekers through its platform

The Bouqs Company: The Bouqs Company is an online floral retailer that offers sustainably grown flowers and plants. The company was founded in 2012 and is headquartered in Marina del Rey, California. The Bouqs Company partners with eco-friendly farmers around the world who use sustainable and responsible farming practices to grow their flowers.

Pymetrics: Pymetrics is a startup that offers a game-based platform for talent matching and career development. The company was founded in 2013 and is headquartered in New York City. Pymetrics uses neuroscience-based games and exercises to assess cognitive and personality traits in job seekers, and matches them with job opportunities that align with their skills and preferences.

These companies have deposits in Silicon Valley Bank

In a report by The Kobeissi Letter, it was revealed that Circle has $3.3 billion, Roku has $487 million, BlockFi has $227 million, Roblox has $150 million, Ginkgo Bio has $74 million, iRhythm has $55 million, Rocket Lab has $38 million, Sangamo Therapeutics has $34 million, Lending Club has $21 million and Payoneer has $20 million in deposits at Silicon Valley Bank (SVB).

CNBC stated that as of the end of December, SVB had total assets of approximately $209 billion and total deposits of $175.4 billion. The Federal Deposit Insurance Corporation (FDIC) has yet to clarify the amount of deposits exceeding the insurance limit.

Keep Reading

Electoral Bonds: Adani has no connection with Navyuga Engineering

Is Qwik Supply Chain PVT.LTD, 3rd largest electoral bond purchaser, related to Reliance Group

Know about the major projects backed by Megha Engineering Infrastructure

Is Hub Power which bought electoral bonds in India is connected to Pakistan?

These are the 10 richest states in India

5 Hollywood Celebrities Who Changed Their Religion to become hindus

Support us to keep independent environmental journalism alive in India.

Follow Ground Report on X, Instagram and Facebook for environmental and underreported stories from the margins. Give us feedback on our email id [email protected]. 

Don't forget to Subscribe to our weekly newsletter, Join our community on WhatsApp, Follow our Youtube Channel for video stories.