OpenSea, which operates a marketplace for the blockchain-based collectibles known as NFTs, announced Tuesday it raised $300 million in a Series C led by Paradigm and Coatue Management. The round values the New York-based company at $13.3 billion, more than eight times its last valuation in July, when it raised $100 million at a $1.5 billion valuation led by Andreeson Horowitz. In November,...
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Data Point electric vehicles
Electric Vehicle Startups Face Cash Crunch
Startup makers of electric vehicles were one of the biggest beneficiaries of the SPAC party of 2020–21—and that fete is now well and truly in the hangover phase. At least a dozen EV startups have gone public since 2020, mostly by merging with a special purpose acquisition company, with grand ambitions to reinvent the way people and freight moved around. Now, at least...
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