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Google-backed ShareChat cuts 20% workforce to ‘sustain through headwinds’

TechCrunch

In December, ShareChat laid off nearly 5% of its workforce of 2300 employees as a result of shutting down its fantasy sports platform Jeet11. The executive also noted that the startup “overestimated the market growth in the highs of 2021 and underestimated the duration and intensity of the global liquidity squeeze.”

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Helbiz reports revenue increase but dwindling cash reserves

TechCrunch

Since Helbiz’s public debut in August 2021, its earnings reports have shown a company that burns through dwindling cash reserves, doesn’t pull in enough revenue to make up for its high costs of operations and keeps pivoting away from core operations into new, and sometimes strange, business units. The remaining $1.7

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Daily Crunch: Hackers pinched LastPass customers’ encrypted password vaults, parent company admits

TechCrunch

New companies in this sector raised around $600 million last year, a steep decline from $800 million in 2021. ” A VC’s perspective on deep tech fundraising in Q1 2023 Three more from the TC+ team: Web3 needs to be more sustainable : Web3 gaming needs to focus on sustainable economies, Immutable co-founder says , reports Jacquelyn. .

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Yummy’s super-sized round helps grow its delivery, ride-sharing super app in LatAm

TechCrunch

It started out as a food-delivery app and was part of Y Combinator’s summer 2021 cohort. Today, the free super app provides delivery of items — from food to medicine to clothing — ride-sharing, grocery delivery in under 20 minutes and the purchase of experiences like concerts and sporting events.

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Sneaker enthusiast group SoleSavy raises $2M, setting the stage for a community-driven commerce boom

TechCrunch

Pralica previously co-founded Kicks Deals, a sneaker shipping site focused on less than retail pricing and Dusanj is the former Director of Operations at New Age Sports, a Nike retailer. . In 2021, I believe that we will see more of this world breaking out of its box into the larger consumer consciousness. .

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A year on from Russia’s invasion, Ukrainian startups show astounding resilience

TechCrunch

Ukraine’s startup ecosystem was thriving before the war and making great progress, with Ukrainian startups raising $832 Million in VC funding in 2021. from a year earlier, and brought in more than $6 billion in revenue, more than $542 million the revenue generated in 2021. It has now moved to Poland and set up the office there.

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Krafton says it has invested over $100 million in India and wants to become more than just a gaming company

TechCrunch

million in Nodwin Gaming in March 2021. $9 9 million in Loco in June 2021. $48 48 million in Pratilipi in July 2021. million in Frnd in December 2021. There are a few companies in India who have made games, and made a decent revenue to sustain their team. Krafton’s investments in India so far.

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