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- Brex is screwed! Actually they're fine. (nobody really knows)
Brex is screwed! Actually they're fine. (nobody really knows)
Also euro-unicorns try to make euro-startups cool again and Archer collabs with NASA.
Adam Hardej
January 24, 2024
Daily(ish) news and live events for venture nerds.
Brex is getting tossed around in the news a lot lately. Hard to say what’s actually happening. Ramp must be loving it. Meanwhile, two European Unicorn founders (“Eurocorns"?) just raised a big fund to help back European founders and Archer is partnering with NASA to build next-gen batteries.
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Loyalty Startup Bilt Rewards Hits $3.1B Valuation After $200M Round
“We’re not just building a loyalty program; we’re creating a community-centric ecosystem that benefits everyone from renters to local businesses,”
In one of the most notable fundraises so far this year, Bilt doubled their valuation in this latest raise. They also reported being profitable on an EBITEA basis and appointed some serious talent to their board. Former CEO of Amex, Ken Chenault, is now the chairman and Roger Goodell is an independent director. Fancy shmancy.
FTC opens inquiry into Big Tech AI investments
“The FTC wants to make sure tech giants aren't bypassing traditional reviews while making huge investments that let them neutralize or absorb smaller potential rivals.”
In 2023, we saw some major players invest in some of the top AI startups (Microsoft & OpenAI, Amazon & Anthropic). Now, the FTC wants to comb through the details of these investment deals. The FTC worries that the big players are gaining too much market and in turn, won’t allow for any new players emerge.
Exclusive: Goldman Sachs leads $44M round in Bastille Networks
“Goldman Sachs is leading a new round of funding in Bastille Networks, a company that uses hardware sensors in offices to stop corporate and nation-state espionage.”
As the need for high-tech security continues to grow in the private sector, Goldman has decided to take a bet on a spyware company. Bastille Networks implements spyware in corporate offices to help detect when a phone, computer, or network has been compromised.
Hot Links
Demo Day Was A Hit!
Thank you to the over 300 of you who showed up live and the hundreds since then who have watched the recordings! It’s exciting to be back at it and there’s more coming soon.
I will share some cleaned up clips on Monday! In the meantime, you can:
See you at the next one! Subscribe to our events calendar here 🙂
AI & B2B SaaS
Join us live on Tuesday, February 6th at 3pm EST to learn more about the role of AI in B2B SaaS from two world class operators:
Wade Foster is the Co-founder and CEO of Zapier.
Zapier is a leading automation tool that connects over 5,000 third-party apps and services, enabling businesses to automate repetitive tasks and streamline workflows. Founded in 2012, Zapier has grown to serve over 2.2 million customers.
Des Traynor is the Co-founder and CSO of Intercom.
Intercom is a customer messaging platform that helps businesses build strong customer relationships. Founded in 2011, Intercom has grown to serve over 25,000 customers.
More is on the way!
More virtual events and some of our first IRL events are on the way. Where are you located/where would you like to see some IRL events?
Where should we host IRL events? |
Not enough LAN-party-tech-networking events nowadays.
Letters From The Editor
Misc. (short for miscellaneous)
Tech Drama Poll Update
Should I have Adam (Ryan) come explain the beef?
🟨🟨🟨🟨⬜️⬜️ Yes, please. (31)
🟩🟩🟩🟩🟩🟩 Don't care. (43)
Hmmmmm… turns out there’s not a lot of newsletter beef interest.
Will keep the ideas coming.
Talk soon,
Adam
PS - Do you want to sponsor this newsletter or an upcoming live event? Reply to this email and/or shoot a note to [email protected] to learn more.
Fir