Friday, 5 January 2024

Investors press pause on gaming startups

Plus, tech layoffs continue in new year

January 5, 2024

Hi, Agen. It’s probably not a lot of fun to be a gaming startup looking for capital these days. Crunchbase data shows investment in gaming startups hit a multiyear low in 2023, with everything from early-stage deals to those large pre-IPO rounds remaining muted. Plus, new year, new note for the tech labor market? Unfortunately, it doesn’t look like it — layoffs continued at the end of December and into the first few days of 2024.

🎮 Investors press pause on gaming startups

Although shares of big gaming companies such as Electronic Arts, Nintendo and Sony performed quite well last year, smaller startups trying to compete in the space largely struggled to score funding from investors, Crunchbase data shows.

Related Crunchbase Pro list: Gaming-Related Startup Funding

✂️ Tech layoffs continue in new year

All told, nearly 200,000 U.S. tech workers — in reality, likely many, many more — lost their jobs in 2023. That was more than double 2022’s total. Will 2024 offer some reprieve? Time will tell, but for now it looks like layoffs are continuing in the new year.

📉 Startup funding in 2023 hit lowest level in 5 years

It wasn’t just the unicorn startups that were hurting in 2023’s dismal venture funding environment. In fact, early-stage investment declined more than any other funding stage in 2023, falling 40% year over year. We look at that and the other big numbers and trends with our exclusive global startup funding report.

➡️ 15 startups we think could go public in 2024

From big names in enterprise tech to a fast-fashion giant to the fintech startup everyone’s talking about, here are 15 companies that Crunchbase News editors and reporters think could be among the first to go public when the IPO markets thaw.

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