Venture funding for startups just suffered the biggest crash since the dot-com bust
A total of $13.9 billion flowed into U.S. startups in the first quarter, and only 884 deals were done, the lowest number in four years.
The report is really focused on the traditional VC market. It only includes startups with at least one venture-backed round, and ignores startups backed only by private individuals (such as angel investors) so very early stage startups are excluded. It also excludes companies that are majority owned by another company or by a private equity firm.
Even so, it's more evidence that the cold wind is definitely blowing through Silicon Valley. As companies find it hard to raise money, they'll have to get to positive cash flow sooner - that means real customers paying more money than the startup is spending.
Just today, "Uber for kids" startup Shuddle shut down, adding its name to the long and growing list of startups who have laid people off or shut down in recent months.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas