Why does Uber need to borrow $2 billion? | Recode Daily: June 15, 2016

Uber is looking for a $2 billion loan, which is unusual for a startup but not all that surprising for cash-hungry Uber, which also recently got a $3.5 billion equity investment. It makes sense that Uber needs all this cash, because the company is barreling toward building privatized, self-driving mass transit.
[Johana Bhuiyan | Recode]

Twitter once thought about buying Soundcloud, but decided not to. Now, Twitter has invested $70 million in the music streaming service, possibly looking to add music features that will help Twitter with the user growth it desperately needs.
[Peter Kafka and Kara Swisher | Recode]

CEO Drew Houston says he has righted the ship at struggling Dropbox, the $10 billion company that's viewed by some as the poster boy for overvalued unicorn startups. Houston told Bloomberg that the company is "free cash-flow positive," or profitable when not accounting for capital expenditures.
[Arik Hesseldahl | Recode]

Bed Bath & Beyond has acquired One Kings Lane, the online furniture retailer, for a purchase price the company called "not material." As recently as early 2014, One Kings Lane raised funding at a $900 million valuation.
[Suzanne Kapner | The Wall Street Journal]

Recently, Zenefits forced out its founding CEO amid a messy regulatory scandal prompted by a series of BuzzFeed News articles. Things continue to look shaky at Zenefits: The company is now cutting 9 percent of its staff, and has laid off more than 350 people since January.
[Arik Hesseldahl | Recode]