Equity Equity Monday: Twitter rivals, unicorn trivia and valuation homework
5 snips
Jan 17, 2023 Big tech sees a boost as Bitcoin and Ethereum prices rise, despite job cuts in late-stage companies. Africa's unicorn drought raises questions amid record fundraising. Clearco is reshaping its leadership to pursue profitability after recent layoffs, while the fintech landscape evolves. Exciting new Twitter rivals emerge, innovating with features like read-only spreadsheets to enhance user experience. T2 grabs attention with its unique approach to data sharing. It's a wild ride through the highs and lows of the tech industry!
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Crypto Spring?
- Bitcoin and Ethereum prices have increased significantly over the past month, despite recent layoffs in the crypto industry.
- This suggests a potential resurgence of consumer interest and a possible earlier-than-expected end to the "crypto winter."
Africa's Unicorn Drought
- Africa had no new unicorns in 2022, despite record fundraising exceeding $5 billion.
- This is attributed to a significant portion of funding going towards early-stage startups (Series A and earlier), while late-stage funding and IPOs remain stagnant.
Stripe's Valuation Cut and Recruitment
- Stripe's internal valuation cut, determined by third-party 409A valuations, may not be solely due to market conditions.
- Lower 409A valuations allow companies to offer stock options at cheaper prices, which serves as a recruitment tool, particularly for prospective employees.