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Compass files S-1, reveals $3.7B in revenue on net loss of $270M

TechCrunch

The company’s last fundraise was in July 2019, when Compass — a company that has built a three-sided marketplace for the real estate industry, along with a wide set of algorithms to help make it work — raised a $370 million round of funding. The company’s revenues have increased from $186.8 million in 2016 to a whopping $3.7

.Net 260
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Nigerian digital bank Carbon hit $240M in payments processed last year, up 89% from 2019

TechCrunch

Posting audited financials can prove detrimental for a private African company for several reasons ranging from bad marketing and PR if huge losses are incurred to regulatory clampdown if the company performs well. million VC-backed company, Carbon was founded by Chijioke Dozie and Ngozi Dozie in 2012.

Banking 291
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Airbnb files to go public

TechCrunch

ai themselves filed to go public in what could be a rush to the public markets by richly valued startups. What changed from the first three quarters of 2019 to the first three quarters of 2020? billion in the first three quarters of 2019 to just $545.5 Yes, Airbnb’s third quarter was smaller than its Q3 2019, with $1.34

.Net 359
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Magnets and water net Magnotherm $6.9M seed round to kill hazardous refrigerants

TechCrunch

Now, a German startup thinks it can freeze those refrigerants out of the market using little more than magnets and water while consuming up to 40% less energy. Magnotherm has been refining its technology, known as magnetocaloric refrigeration, since it was spun out of TU Darmstadt in 2019. Magnets and water net Magnotherm $6.9M

.Net 228
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The air taxi market prepares to take flight

TechCrunch

.” Just consider some of the expenses accrued by the biggest eVTOLs last year: Joby Aviation spent a whopping $108 million on research and development, a $30 million increase from 2019. Meanwhile, Joby’s net loss last year was $114.2 million, though, of course, neither company has brought a product to market yet.

Marketing 277
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Poshmark is pushing into the public market at a high-end valuation as the resale market sizzles

TechCrunch

According to its S-1, it produced net income of $21 million off revenue of $193 million during the nine months ended September 30, 2020, compared with a net loss of $34 million on revenue of $150 million during the same period in 2019. Forever 21, the fast-fashion mall staple, filed for bankruptcy in 2019.).

Marketing 206
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Nerdy, a tutoring marketplace startup, is going public via SPAC

TechCrunch

Drilling into its realized results instead of its more-favorable annualized performance from its third and fourth quarters of 2020, Nerdy saw estimated revenues of $106 million in the year, up just 16% from its 2019 result. The company’s costs showed modest gains and losses, apart from its sales and marketing line item.