This week, the New York Times published an explosive piece on Forbes 400 cover subject Ryan Breslow. The publication reports that the founder of online checkout company Bolt inflated his company's metrics and stretched the truth to give the business its impressive valuation and reputation. Here's that story, and ours, too. In response to the Times report, Breslow wrote an extremely long Twitter thread calling the story a "hit piece"–you can read that here, if you have an hour to kill.
Speaking of African startups, these young Democratic Republic of Congo sibling cofounders raised $30 million to build WeChat for Web3. They started Jambo just six months ago. More evidence of African Web3 mania: Seychelles-based crypto exchange KuCoin announced that it had raised $150 million to expand its decentralized offerings. These San Francisco-based founders, however, are interested in a different type of NFT: N-trans-feruloyltyramine (NFT) and N-trans-caffeoyltyramine (NCT), compounds found in cannabis seed shells and black pepper that have shown promise in two preclinical studies to manage non-alcoholic fatty liver disease, a chronic condition that afflicts about a quarter of the world's population Material Security employs less than 40 people, but has nabbed a $1.1 billion valuation by taking the sting out of email hacks. Atlassian co-CEO Mike Cannon-Brookes, who we estimate is worth $11.6 billion, is putting his money behind an effort to make Australia's biggest power company stop spewing carbon. This mental health startup is trying to use voice "biomarkers" to detect signs of depression and anxiety, and it's got a $85 million valuation. Just because someone has raised $2.5 million in a crowdfunding campaign doesn't mean the product will ever exist. This is evidenced by the failure of dashcam company Arvizon, which has yet to deliver its funders a product. Grindr, the dating app that focuses on the LGBTQ+ community, has agreed to go public by merging with a SPAC at a valuation of $2.1 billion, including debt.
Just 8% of people employed in corporate Manhattan are back in the office five days a week, according to the Partnership for New York City. And while this is great for anxious puppies, infants and niche coffee brewing, it's apparently really great for Airbnb. The vacation rental company booked a record-breaking 102 million nights in its first quarter–a 70% jump from the same time in 2021. |
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