Friday 20 October 2023

You’d never guess where investors are parking billions

Plus, an IPO checklist to take your startup public

October 20, 2023

Hi, Agen. Across the planet, roughly 1.5 billion cars and trucks already need a place to park. And each year, we add millions of new ones to the ranks. So maybe it’s not that surprising that parking is an increasingly big business that’s drawing startup and VC interest by the billions. Plus, eyeing the IPO markets? Here’s a checklist to get you started.

🚗 Parking — yes, parking — is drawing billions of dollars in VC money

Parking-related companies funded in the past three years have collectively pulled in at least $2.9 billion in equity financing to date, Crunchbase data shows. Some of that money went to fund the biggest M&A transaction of the year by a private, VC-backed company. Who knew there was so much money to be made helping people find a spot to temporarily abandon their cars?

Related Crunchbase Pro list: Funded Parking-Related Startups

🏁 An IPO checklist to take your startup public

The IPO market seems to be perking up. If you’re a startup CEO thinking about taking your company public soon, here’s a three-part checklist from guest author Mike Whitmire, who’s worked alongside several companies in the IPO process.

Related Crunchbase Pro list: Startup IPOs of 2023

🤖 Softbank eyes investment in OpenAI-backed robotics startup

SoftBank, which said earlier this year that it’s going on the offensive with AI investment, is reportedly in talks to invest in 1X. The Norwegian startup makes humanoid robotics and has previously drawn funding from generative AI giant OpenAI.

🔒 Cybersecurity doesn’t look recession-proof anymore

Funding to VC-backed cybersecurity startups this year is on pace to hit its lowest point for a calendar year since 2019, Crunchbase figures show. The numbers are yet more evidence that cybersecurity may not be nearly as “recession-proof” as many investors have thought for the last several years.

Related Crunchbase Pro list: Cybersecurity Funding

💶 Opinion: Why European VC is outperforming the US

Aren’t European VCs painfully risk-averse? And even if they aren’t, don’t American VCs just have a lot more cash? These are common responses to new data that seems to show the extent to which European venture capital has outperformed American VC in recent history. Guest author Dan Gray breaks down some of the real reasons European startup investors may be outperforming their peers across the pond.

📉 Where are they now? 2021’s hot IPOs have lost 60% of their value

In normal times, going public at a valuation of over $10 billion is both a rare occurrence and a very big deal. In 2021, however, such enormous IPOs became rather common, even for money-losing startups, with at least 20 companies making their debuts above $10 billion. The list included some of the buzziest names in tech and the app economy: Didi, Rivian, Grab and Coinbase. But where are those once-hot IPOs now?

Related Crunchbase Pro list: Biggest 2021 IPOs

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