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6 investors discuss why AI is more than just a buzzword in biotech

TechCrunch

VCs are also increasingly looking for what biotech startups can do with AI beyond just R&D and are wary of companies that use the technology as a marketing tool. Have declines in the public-market valuations of biotech companies impacted your investments in the sector? The survey also covers the implications of U.S

Biotech 242
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Nerdy, a tutoring marketplace startup, is going public via SPAC

TechCrunch

Nerdy will merge with TPG Pace Tech Opportunities (NYSE: PACE), a publicly traded SPAC since 2015. TechCrunch reviewed the Nerdy-SPAC investor presentation, which can be read here. That growth rate is slower than what it managed in 2019, some 26% growth, and is around half of what it anticipates for 2021, namely 31% growth.

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Why Nigeria leads the way in YC’s participation in Africa

TechCrunch

The country has posted steady progress in the last three years as the leading African startup market. In 2019, startups based in Nigeria attracted $747 million, or 37% of Africa’s total VC investment. YC W22 batch nets 24 African startups, including 18 from Nigeria. Y Combinator is paying attention.

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Nigerian digital bank Carbon hit $240M in payments processed last year, up 89% from 2019

TechCrunch

Posting audited financials can prove detrimental for a private African company for several reasons ranging from bad marketing and PR if huge losses are incurred to regulatory clampdown if the company performs well. As we wait for its annual report for 2020, its year in review offers a sneak peek into how Carbon grew the past year.

Banking 291
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Coinbase files to go public in a key listing for the cryptocurrency category

TechCrunch

Coinbase’s financials show a company that grew rapidly from 2019 to 2020. More than that, the company also crossed the threshold into unadjusted profitability; it’s common amongst quickly-growing tech companies to lean more heavily on adjusted profit and other more flattering metrics. In 2019 Coinbase $30.4

.Net 270
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Heavily VC-backed salad chain Sweetgreen heads toward public markets

TechCrunch

Udemy is also on the way to the public markets. Because Sweetgreen raised hundreds of millions of dollars during its life as a private company, including myriad venture capital rounds — through a Series I in 2019 — along with capital from other investors. million, and its net losses double from $67.9 Allbirds, too.

Marketing 197
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Data intelligence startup Near, with 1.6B anonymized user IDs, lists on Nasdaq via SPAC at a $1B market cap; raises $100M

TechCrunch

The IPO window has all but closed for technology companies in the wake of a massive downturn in the market, but an opening still remains for some, in the form of SPACs. If you’ve been following Near or the SPAC market, you might recall that there were rumors of KludeIn talking to Near back in December.

Marketing 220