A Long, Strange Trip for the ‘Uber for Nurses’Read more

Photo: Shutterstock

The Creator Startups That Tapped Extension Rounds; Introducing SBF, Substack Writer

By  |  Jan. 12, 2023 4:08 PM PST
Photo: Photo: Shutterstock

One thing that stood out to me as I analyzed The Information’s Creator Economy Database for our latest story was the increase in the number of rounds that were extensions to previous rounds, which means investors poured more money into existing investments while generally maintaining prior deal terms. 

Those rounds have murky labels, like extension or plus round, or more simply “early stage” or “late stage.” They’re a product of a trend we saw accelerate in 2022: Startup founders who wanted to avoid raising a new round, at a possibly lower valuation, convinced investors to add funding to their existing rounds. 

At least 18 global creator startups that announced funding in 2022 disclosed extensions of previous rounds, or didn’t name their round of funding. Seven of those were announced in the fourth quarter of the year. That annual count is 33% higher than in 2021, according to an analysis of the database. Announcements often lag when the deal closed, especially for early-stage companies. 

Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Instacart CEO Fidji Simo. Photo by Getty.
Exclusive startups Finance
Growth Wanes at Instacart, Gopuff
Grocery upstarts Instacart and Gopuff haven’t been able to deliver two things at once this year: growth and profits.
CareRev co-founder Will Patterson stepped down as CEO last week. Art by Clark Miller
Exclusive startups venture capital
A Long, Strange Trip for the ‘Uber for Nurses’
Will Patterson was on a hot streak. As the co-founder and CEO of CareRev—a gig-work platform sometimes described as an “Uber for nurses”—he saw his company’s business surge during the pandemic as hospitals and clinics scrambled to find healthcare workers.
Nvidia CEO Jensen Huang. Photo by Bloomberg
semiconductors ai
Why Nvidia Aids Cloud Rivals of AWS, Google and Microsoft
Nvidia’s business of selling chips for artificial intelligence is going gangbusters, but the company faces a looming problem.
Tim Cook. Photo by Bloomberg
Exclusive apple ar/vr
Apple’s Learning Curve: How Headset’s Design Caused Production Challenges
If Apple unveils its long-awaited mixed-reality headset next week as expected, it will represent the company’s riskiest gamble on a new product since the iPhone.
Introducing The Information’s Generative AI Database
OpenAI’s ChatGPT launched six months ago, igniting a boom in generative artificial intelligence.
Adam D'Angelo photograph by Ko Sasaki. Art by Clark Miller
The 1:1 ai
Adam D’Angelo’s Endless Quest to Answer Everything
Adam D’Angelo is basking in an “ endless summer ” of artificial intelligence. A few weeks before he and 350 industry peers released a bizarre, one-line statement warning that AI could herald a nuclear-level extinction event, the 38-year-old co-founder of Quora told me he actually sees more upside in AI than downside.