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Unicorn

All articles tagged with #unicorn

Rec Room to shut down as profitability remains elusive for social VR platform
business4 hours ago

Rec Room to shut down as profitability remains elusive for social VR platform

Rec Room, the Seattle-based social gaming platform once valued at $3.5B, is closing on June 1 after failing to reach profitability despite serving more than 150 million players. The platform will halt new accounts, subscriptions, and monetization, with creator earnings ending in May and a final payout on June 1, as staff reductions from 2025 are part of the wind-down. Snap is reportedly acquiring assets as part of the shutdown.

via GeekWire|
#business#gaming#profitability
Soonicorn Surge: VC-Fueled Startups Redefine Private Valuations
business1 month ago

Soonicorn Surge: VC-Fueled Startups Redefine Private Valuations

Venture-capital funding is fueling a surge of soonicorns—private startups valued at $500 million to $999 million—with more than 2,000 such firms in the United States by the end of last year. The AI boom is lowering funding barriers and speeding growth, pushing many firms toward or beyond the soonicorn threshold. However, being a soonicorn is a snapshot of current status, not a predictor of future unicorn status: some may later become unicorns, others may remain under that mark, and some could fail. Mega-startups like Anthropic, OpenAI, and SpaceX are reportedly considering public listings in 2026, underscoring a broader shift in the private-to-public market dynamics.

via The New York Times|
#business#note-ensure-5-tags-only#soonicorn
UK Fintech Tide, Supported by India's Small Businesses, Achieves Unicorn Status
business6 months ago

UK Fintech Tide, Supported by India's Small Businesses, Achieves Unicorn Status

UK-based fintech Tide, serving over 1.6 million micro and small enterprises globally with a significant presence in India, has become a unicorn with a $120 million funding round led by TPG, valuing it at $1.5 billion. The company offers tailored financial and administrative services to small businesses and plans to expand further geographically and enhance its product offerings, including AI capabilities.

via TechCrunch|
#business#fintech#funding
"From Ad Man to Billion-Dollar Beverage Unicorn: The Liquid Death Success Story"
business2 years ago

"From Ad Man to Billion-Dollar Beverage Unicorn: The Liquid Death Success Story"

Former ad man Mike Cessario birthed the $1.4 billion beverage unicorn, Liquid Death, by creating a hardcore brand selling water in a can, leveraging self-aware, photogenic marketing to attract Gen Z consumers and utilizing irreverent, punk-inspired branding. The company's success is attributed to its unique, shareable product design, irreverent online presence, and rapid revenue growth, leading to a recent $67 million funding round and a valuation doubling since 2022. With a following of almost 8 million on Instagram and TikTok, Liquid Death continues to expand its product line with agave-sweetened seltzers, iced tea, and electrolyte powders, maintaining its humorous and irreverent brand identity.

via Fortune|
#beverage#branding#business
"Indonesian Entrepreneur's Digital Tool Transforms Fish Breeding, Creates Unicorn"
business2 years ago

"Indonesian Entrepreneur's Digital Tool Transforms Fish Breeding, Creates Unicorn"

Indonesian entrepreneur Gibran Huzaifah has turned his aquaculture startup, eFishery, into a rare unicorn with a valuation of over $1 billion. Huzaifah's company provides fish breeders with an Internet of Things device that automates fish feeding and reduces costs. eFishery has expanded to work with around 300,000 fishponds and is now an end-to-end aquaculture value-chain company, offering financing and offtake services in addition to the feeding tool. The company aims to reach 1 million ponds by 2025 and expand internationally, with pilot projects already underway in Bangladesh, Thailand, and Vietnam. Huzaifah also plans to take eFishery public in the U.S.

via Forbes|
#aquaculture#business#fish-breeders
Zepto Emerges as India's First 2023 Unicorn with $200 Million Funding
business2 years ago

Zepto Emerges as India's First 2023 Unicorn with $200 Million Funding

Indian instant grocery delivery startup Zepto has raised $200 million in a Series E funding round led by StepStone Group, valuing the company at $1.4 billion. This makes Zepto the first Indian unicorn of 2023. While many other instant delivery startups have struggled or shut down, Zepto has thrived due to its focus on execution and supply chain management. The company processes over 300,000 orders a day and aims to be IPO-ready within 12 to 15 months. Zepto plans to go public by 2025 and is targeting $1 billion in annualized sales in the near future.

via TechCrunch|
#business#funding#indian-startup