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Nerdy, a tutoring marketplace startup, is going public via SPAC

TechCrunch

Nerdy will merge with TPG Pace Tech Opportunities (NYSE: PACE), a publicly traded SPAC since 2015. TechCrunch reviewed the Nerdy-SPAC investor presentation, which can be read here. Its 2020 estimates list an anticipated net loss of $23 million, which is more than it lost in 2019 but less than its 2018 deficit.

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Mexico’s fintech success: How tech is driving the population to banking

TechCrunch

And because many Mexicans have little trust in banks, the transparency of fintech options has played a big part in people adopting the new technology. Mexico’s fintech success is no coincidence – it’s due to a combination of factors that have made the country a fertile space to create and grow fintech solutions.

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Wish files to go public with 100M monthly actives, $1.75B in 2020 revenue thus far

TechCrunch

From 2017 to 2018, for example, when Wish saw revenues of $1.10 But from 2018 to 2019, its revenue only grew to $1.90 During the first three quarters of 2019, Wish posted net losses of just $5 million, before some preferred stock costs pushed its total deficit to $12 million. In 2018, Wish had gross margins of 84%.

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Nigerian digital bank Carbon hit $240M in payments processed last year, up 89% from 2019

TechCrunch

In 2018, Carbon , a Nigerian fintech startup, made its financials public for the first time. If you recall, we released a year in review in January 2020 before we released the fiscal year of 2019 report,” he told TechCrunch. million in revenue for FY2019, up 68% from 2018. billion (~$241.35

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To Make It Big, Most Tech Startups Have A Limited Post-IPO Window To Turn Profitable

Crunchbase News

Covering tech startup IPOs generally involves writing about companies that lose money. But in most cases, even the most valuable one-time venture-backed technology companies went public before turning profitable. The security provider, which made its market debut in 2012, first reported an annual profit in fiscal 2018.

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‘Insane’ — UK tech reacts to government moves that might hand UK startups contract to Barclays Bank

TechCrunch

Tech Nation is trailing in second place in the race to remain the U.K.’s First in line at this point in time — in a decision which is due in December — is banking giant Barclays. Tech Nation’s existing government funding runs until March 2023. Tech Nation has long been embedded in the U.K. tech startup scene.

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Roblox files to go public

TechCrunch

We’ve also dug into its tech stack evolution here , if that is your jam.). million in 2018, and 56% to $488.2 For example, the company’s bookings — what it defines as “sales activity in a given period without giving effect to certain non-cash adjustments” — grew 62% in 2018 to $499.0, million in 2018, $86.0

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