Recent Summaries
Inside Startups | Automattic acquires Beeper for $125M / Factorial bags €80M debt facility / Checkr lays off 32% of workforce | April 11, 2024 | Opened: 107
Summary: Automattic has acquired Beeper for $125M to expand messaging operations, with all25 Beeper employees transitioning to Automattic. Factorial secured an €80M debt facility from General Catalyst, targeting customer acquisitions without property collateral. Background screening startup, Checkr, has laid off382 employees to adapt to current economic trends, ensuring long-term company viability. Alt Capital has initiated an accelerator program for AI solutions in enterprise, offering substantial support including $250,000 in equity and $350,000 in Microsoft Azure credits to selected startups.
Links:Acquire cross-platform messaging app, €80M debt facility, Background screening startup Checkr lays off382 employees, Alt Capital launches accelerator
Inside Startups | Multiverse acquires Searchlight / Seed startups use bridge rounds to extend cash runway / Claroty gears up to go public | April 09, 2024 | Opened: 129
Summary: 1. Multiverse acquired AI startup Searchlight, enhancing its professional training services. 2. Seed-stage startups are opting for extensions and bridge rounds to extend financial runways without suffering valuation markdowns. 3. Lime plans a $55M investment to expand its fleet, marking a return to Greece and Mexico. 4. Cybersecurity unicorn Claroty is preparing for a U.S. IPO in 2025 with a $3.5B valuation. 5. Lime is adding over 30,000 bikes globally, amidst a gross booking surge and a challenging market for competitors. 6. EV leasing startup Zevvy has shut down due to market conditions. 7. Quick-commerce startup Zepto surpassed $1B in annual sales and is second in India’s quick-commerce market share.
Links: - Multiverse acquires Searchlight, - Seed startups leverage extensions, bridge rounds, - Claroty gears up for IPO, - Lime to add 30,000 new bikes, - Zevvy shuts down, - Zepto crosses $1B in annual sales, - SocketLabs’ interactive webinar