Equity Monday: Everyone is going public so what's wrong with your startup?
Feb 22, 2021
The podcast dives into the financial tech landscape, spotlighting Coinbase’s potential $100 billion valuation and the surprising public offering of Toast, a company that recently laid off staff. It discusses notable funding rounds for Gopher and Ageras Group, emphasizing their growth potential. There’s a deeper exploration of the challenges late-stage startups face as more companies flock to the public markets, raising questions about the viability of those still in the private sector.
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Market Valuations
Coinbase may be worth $100 billion based on a secondary sale, with strong revenue and profit in 2020.
Toast, a restaurant payments company, could be worth $20 billion in an IPO after layoffs last year.
question_answer ANECDOTE
Gopher's Growth
Gopher, a UK delivery provider, raised 4 million pounds after 300% revenue growth and maintained profitability.
This contradicts the usual assumption that high growth requires significant cash burn.
question_answer ANECDOTE
Ageras Group's Funding
Ageras Group, a Danish accounting platform, raised $73 million, the largest Danish round Alex recalls.
The entire round came from a single investor, Lagarde Road Capital.
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Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines.
This is Equity Monday, our weekly kickoff that tracks the latest private market news, talks about the coming week, digs into some recent funding rounds and mulls over a larger theme or narrative from the private markets. You can follow the show on Twitter here and myself here — and be sure to check out our last main ep, in which Natasha coins a slogan for a16z that I both hate, and became the headline of the show!
But enough of all of that, we have a lot to get through this morning. Here's what we talked about:
The Weekend:Coinbase at $100 billion? More on that to come. Toast is going public! Probably! Wait Toast the company that laid off staff last year? Yep that Toast! It's not toast! And new rules on online lending in China.
Deeper Dive/Riff: If the public markets will float even the most leaden of startup via a SPAC-balloon, any late-stage startup that doesn't take the ride out of the private markets must either be perfect or too heavy to lift. And if it's the second, we can write it off? Maybe?
And, finally, this is precisely what I feel like this Monday morning. Chat soon and stay safe!
Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products.
Equity