Shares of Datadog, which sells software for tracking the performance of cloud applications, dropped more than 20% after it revealed that some customers are scaling back their usage of its services, prompting the company to cut its annual revenue forecast by roughly $35 million. Datadog, like many other companies that sell cloud-based software, has suffered as customers have pulled back on...
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Creator Economy startups
Beehiiv’s Deal for an Ad Tech Startup Shows Strains on Founders
Let’s kick off this week with some creator economy M&A news. Beehiiv, a newsletter publishing startup, is acquiring Swapstack, an advertising marketplace for newsletters, Beehiiv’s CEO Tyler Denk confirmed to me. Beehiiv is acquiring the smaller firm’s tech and relationships with advertisers. Swapstack co-founder and CEO Jake Schonberger and a Swapstack account manager will join nearly...
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