Though the Federal Reserve stated on Sunday that Silicon Valley Bank’s depositors, both uninsured and insured, will be made whole, several more tech firms disclosed their exposure to SVB over the weekend. Among those, Life360, Unity, AppLovin, and Sezzle put out press releases detailing their relationships with SVB noting, in a few cases, the funds they held were “not material” to their businesses or otherwise downplaying the impact. Sezzle said it had $1.2 million at SVB, while Life360 said it had $95.1 million. AppLovin had less than $2 million and Unity Software disclosed it had “less than 5% of cash and cash equivalents.”
The bank’s failure has impacted many firms, both large and small, with earlier announcements from Roku, Roblox and others disclosing more sizable exposures. Roku, notably, had held around $487 million at SVB while R...
