The Exchange

The late-stage venture market is crumbling

Proponents of capital efficiency may very well feel this is the medicine the market needed, pain be damned.

The bear and bull cases for Arm’s IPO

Arm's IPO could very well make or break investor and startups' appetite for more IPOs this year. What does the company have going for it?

Everyone’s talking about tech IPOs again

After going on about tech IPOs and the ongoing drought for so long, I would like a change in theme, one driven by SEC filings and data.

Nailing subscriptions in India

A look at subscriptions in India from two angles: the consumer market and B2B SaaS.

As net retention plummets, AI could be the savior software companies need

There could be good news just around the corner, provided services with generative AI become as powerful as expected, and are as in demand as hoped.

Amplitude’s CEO feels his company would be ‘in a world of hurt’ if it hadn’t gone public in 2021

'There would be all this pressure to go public, but then there wouldn't be an appetite for it. And so [it would] be harder to get out.'

As unicorns grow rarer, maybe it’s time to look toward revenue, not valuations

We should forget the whole unicorn debate and instead ask: How many startups can reach the $100 million revenue mark for a given period?

The pre-seed market is recovering, but investors increasingly have the upper hand

While funding to pre-seed startups has picked up pace, most of the deals being closed are more in favor of investors than the founders.

Monday.com shows it’s possible to post great results even in a slow market

Monday.com is continuing its streak of quick growth following its IPO. In addition to reporting a 42% rise in its revenue for the second quarter of 2023, the cloud-based platform that lets users creat

A core plank of the SaaS economic model is under extreme pressure

There has been a decline in SaaS net retention from Q1 2022 to Q1 2023.

Startup founders should care more about Serve Robotics’ listing

Serve's going public gives us the rare opportunity to closely follow a startup's crucial, early growth days in a nascent market.

The most valuable startups are getting closer to profitability, but at a cost

At some point we have to acknowledge that the worst is behind us, and any remaining malaise is potentially psychosomatic.

WeWork’s going concern warning is a reminder that VC and low-margin business don’t mix

It can be a good idea to raise venture capital to scale a business with highly valuable revenue, provided you can generate operating leverage later.

SoftBank is getting its investing mojo back

Frankly, we deserve some adventurous venture capital after so many monhts of dreary conversations about cash flow.

Triller’s upcoming listing likely won’t resurrect the US IPO market

Sadly, while Triller is an interesting business, it may prove too small an offering to fully unlock the domestic IPO market for technology companies.

The best apps are taking a page from mobile gaming

Retaining mobile app subscribers is harder than it was last year, but paywall optimization and gamified UX can help.

Unpacking the end of Luko’s solo journey in insurtech

It's not all rosy for companies that put growth first back when it was sexy to reach for the skies, and now find themselves in a market that favors a quick, viable and visible path to profitability.

Will we see any IPOs happening this year at all?

If market conditions continue to improve, it’s only a matter of time until we see a new crop of IPOs. But that might not happen as soon as you’d expect.

Uber is now a profitable, cash-generating machine

This morning, let's dig into Uber's results, check how the stock market is thinking about the company, and then close with notes on what we might see from Lyft.

New Relic’s sale tells us much about the value of middling growth today

It appears single-digit revenue multiples are all that's within reach of unprofitable tech companies with growth rates in the low double-digits.
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