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Remembering the startups we lost in 2022

TechCrunch

No one wants to see startups fail, but we’re all keenly aware that most ultimately do. But even with that in mind, 2022 just hit different. The days of the $20 million seed round appear to be over — at least for now. Unfortunately, however, Argo won’t be around to play a part. It’s been a year.

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Stripe’s internal valuation gets cut to $63 billion

TechCrunch

The 11% cut comes after an internal valuation cut that occurred six months ago , which valued the company at $74 billion. Companies are supposed to do a 409A at least every 12 months or when a material event might lower its valuation. It is now valued, internally, at $63 billion.

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Fintech startups lead the layoff wave

TechCrunch

Layoffs up in H1 2022. So far in 2022, fintech startups are earning another, less favorable distinction — accounting for the third largest number of layoffs, by percentage, globally. For context, that is 3,709 out of 36,861 startup employees laid off overall during Q2, meaning that fintech accounted for 10.1%

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Airtable, last valued at $11 billion for its no-code software, lays off over 250

TechCrunch

Just days ago, Airtable published a memo about how laid off workers can use Airtable to search for jobs. It’s been an unwelcome theme of 2022—layoffs,” the post said. Each season seems to usher in a new wave of cuts. For the souls who lost their jobs this year it’s another cruel uncertainty they’ll have to surmount.”.

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TechCrunch+ roundup: Slashing churn rates, visa side hustles, YC S22 Demo Day faves

TechCrunch

Use discount code TCPLUSROUNDUP to save 20% off a one- or two-year subscription. In what I think may be a TechCrunch first, I’m hosting two Twitter Spaces on Tuesday, September 13. These should be lively conversations, so I hope you’ll join us; the details are below. PDT/11 a.m. yourprotagonist.

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Brex co-founder Henrique Dubugras details decisions behind pivots, layoffs, going remote

TechCrunch

More recently, it laid off 11% of its staff. At TechCrunch Disrupt 2022, I sat down with a refreshingly candid Dubugras and Anu Hariharan, YC’s managing director for continuity and an early Brex investor, to expose the context around this whirlwind of a year. After selling that company, I moved to the U.S.

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Jumia expects losses not to exceed $100M this year, per Q3 financials

TechCrunch

Compared to the second quarter of 2022, fulfillment and sales and advertising expenses were down 50% and 74%, respectively,” said Jumia CEO Francis Dufay in a statement. Compared to the second quarter of 2022, fulfillment and sales and advertising expenses were down 50% and 74%, respectively,” said Jumia CEO Francis Dufay in a statement. “We

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