Snap grew its revenue 62% to $911 million in the fourth holiday quarter, beating Wall Street estimates of $857 million. The visual messaging app reported its fourth consecutive quarter of profit at $45 million before charges like interest, taxes, and stock compensation, though its net loss was $113 million. Daily Snapchat users grew 22% from the year-ago period to 265 million, driven primarily...
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Dealmaker venture capital
Google, Nvidia and Microsoft Offer What VCs Can’t
Welcome back,Amid all the hype for generative artificial intelligence, some venture capitalists have refused to join the fray. These young companies need so much capital and so much computing resources, the VC skeptics say, that they’ll have little chance of competing against Google, Amazon and other big tech companies that may soon have similar products.Our recent reporting this week was a...
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MoonPay CEO, Other Executives Cashed Out Before Crypto Business Dropped
In November 2021, just as crypto prices were hitting all-time highs, MoonPay—a crypto payments startup that celebrities including Jimmy Fallon and Paris Hilton had praised for its non-fungible token “concierge” service— announced it had completed its first ever outside fundraising: an eye-popping $555 million round at a $3.4 billion valuation from investors including Tiger Global Management and Coatue Management.