Hundreds of startups face a crippling cash crunch and an ‘extinction-level event’ if no one buys Silicon Valley Bank by Monday

• Silicon Valley Bank’s collapse has left hundreds of startups facing a cash crunch and payroll crisis.
• A popular toy store held a 40% off sale to raise funds.
• Their best hope for paying staff is a buyer being found for SVB before markets open on Monday.

Hundreds of startups face a massive cash crunch if the search for a buyer for Silicon Valley Bank drags into next week.

The Federal Deposit Insurance Corporation (FDIC) took control of SVB Friday after it was shut down by California regulators when a failed $2.3 billion capital raise sent its stock crashing.