Stripe Valuation: Daily Crunch - $95 Billion

Tech News Highlights: March 15, 2021

Significant financial evaluations, proactive health initiatives, and notable title changes mark the key events in the tech world today. This is a summary of the most important developments from March 15, 2021.

Stripe Achieves $95 Billion Valuation

Stripe, the widely-used payments processor, has secured $600 million in new funding, resulting in a valuation of $95 billion. The company intends to utilize these funds to broaden its operations within Europe and enhance its global payments infrastructure.

According to president and co-founder John Collison, “The potential for growth within the European digital economy, spanning fintech, mobility, retail, and SaaS, is substantial.”

Further analysis by Alex Wilhelm in Extra Crunch details the company’s recent growth, noting that it currently serves over 50 businesses each processing in excess of $1 billion annually.

Updates from Major Tech Companies

Facebook is implementing labels on all posts concerning COVID-19 vaccines, directing users to authoritative information sources. These measures also include temporary restrictions designed to curtail the dissemination of vaccine misinformation and address vaccine hesitancy.

Elon Musk has adopted the unconventional title of “Technoking of Tesla,” though this designation remains equivalent to his role as chief executive officer of the electric vehicle manufacturer.

Netflix received an impressive 35 Academy Award nominations, with ‘Mank’ leading the pack at 10 nominations. This year’s awards reflect the increasing prominence of streaming services in the film industry.

Startup Funding and Venture Capital Activity

Airtable, a relational database often described as an advanced version of Excel or Google Sheets, has reached a valuation of $5.77 billion following a $270 million Series E funding round.

WeWork is restructuring its offerings in an effort to revitalize its business model. The success of this strategy remains to be seen.

ElevateBio has secured $525 million to further its advancements in cell and gene therapy technologies. The company pursues a dual strategy of developing and commercializing its own therapies, alongside collaborative partnerships with academic institutions.

Insights from Extra Crunch

Julia Collins and Sarah Kunst provide guidance on constructing an effective fundraising strategy. Collins, a pioneering Black woman co-founder of a venture-backed unicorn, has attracted significant investment in her latest venture.

Olo has increased its IPO price range, while DigitalOcean is anticipating a potential valuation of $5 billion upon its public debut. This signifies a dynamic period for initial public offerings.

(Extra Crunch is a membership program designed to empower founders and startup teams. Sign up for access here.)

Additional News

U.S. e-commerce is projected to surpass $1 trillion in 2022, driven by the sustained impact of the COVID-19 pandemic. A recent Adobe report indicates a $183 billion increase in online shopping due to the pandemic.

BMW has unveiled the next iteration of its iDrive operating system, featuring an expanded center dashboard display extending across the cockpit.

Four indicators suggest your product may not be as accessible as you believe. Modernizing legacy code and design presents considerable challenges.

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