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☆ A new crop of startups wants to help solve loneliness among millennials and Gen Z. Here's how they're connecting strangers and making money.
▼ + stars: | 2024-05-10 | by ( Lauren Johnson | Sydney Bradley | ) www.businessinsider.com time to read: +10 min

Plus, the pandemic and the shift to working from home have made millennials and Gen Z lonelier than ever, thanks in part to doomscrolling. "I believe the conventional 'make friends' apps too closely mimic the dating model, which can feel awkward and high-pressure for making friends," he said. The group hosts "reading parties" at bars and event spaces with the goal of helping people connect through reading. Dinner With Friends, a group that throws dinner parties, has worked on sponsored events with brands like Bumble and Geneva. Dinner With Friends founder Anita Michaud said brands typically either sponsor entire dinners or provide products — like canned cocktails — for the dinner parties.

Persons: —, they've, Danial Hashemi, Sydney, Z, millennials, Cliff Lerner, Lisa Oreshkina, Saneblidze, Tom Worchester, Andreessen Horowitz, Victor Pontis, Luma, Liz Chick, Gen, Mira Hobbs, ReCreate's Chick, Anita Michaud, Peter Boyce II, Boyce, Maitree Mervana Parekh, Marlon Nichols, they're, it's, Ben Bradbury Organizations: Service, Business, Sydney Bradley, Big Tech, Tech, Timeleft, Reading, Facebook, VC, Wine, Bumble, New, Acrew, MaC Venture, Reading Rhythms Locations: New York City, Los Angeles, New York, Brooklyn, Squarespace, Lisbon, Amsterdam, London, San Francisco, Geneva

When it comes to newer consumer-social startups, the environment they're entering is turbulent — investor checks have dwindled, users are facing subscription burnout, and successful advertising models require massive scale. AdvertisementSo how are the emerging, buzzy social startups approaching monetization in 2024? "There's really only two monetization business models for consumer products," said Tiffany "TZ" Zhong, founder of new social platform NoSpace and early-stage VC firm Pineapple Capital. 3 ways new social-networking startups are approaching monetizationWhile some newer social startups are already monetizing their product, many are still pre-revenue and experimenting with different models to see which will make sense for their product and audience. And Verse CEO Bobby Pinckney told BI that the social platform, centered around music, plans to add a premium subscription that will unlock advanced AI tools, analytics, and templates.

Persons: —, there's, Eric Wittman, Tiffany, Zhong, VCs, Bianca Ambrosini, Ambrosini, Marlon Nichols, Nichols, Emma Bates, Andrew Kahn, Danial Hashemi, Alexandra Debow, Bobby Pinckney Organizations: Service, Meta, Business, Pineapple, Mac Venture Capital, Twitter, Crush Ventures, Crush, BI Locations: Berlin

☆ Why 7 prominent VCs are investing millions in new social startups like Diem, Lex, and 222
▼ + stars: | 2024-03-01 | by ( Sydney Bradley | Marta Biino | ) www.businessinsider.com time to read: +8 min

Mervana Parekh is a principal at Acrew and has invested in social startups like Diem, Afterparty, and Anything World. Best Nights VC. Nichols is a founding managing partner at MaC, which recently invested in social startups like Spill and Swsh. Boyce has backed a slew of new social startups, including Diem, Lex, Koodos Labs, and Swsh, alongside associate Rhian Horton. In 2024, Best Nights is looking to invest in companies that facilitate travel experiences after hearing people say their best nights have happened during trips or vacations, said de Silva.

Persons: —, Connie Chan, Mervana Parekh, Peter Boyce II, Marlon Nichols, Catalyst, Web3, Peter, Diem, Afterparty, Lorrain de Silva, Andrew Kahn, Miley Cyrus, Lorde, Kahn, Aaron Matusow, Dan Kruchkow, Nichols, Elizabeth Weil, Kevin Weil, John Smothers, Boyce, Lex, Rhian Horton, Lorrain, Silva, BestNights, Aaron Leithäuser, Gen Z, Peter Boyce, de Silva, Acrew Organizations: Service, Business, Acrew, Stellation, MaC Venture, VCs, Stanford University, Startup, Pudgy Penguins, Crush Ventures, VC, Crush, MaC Venture Capital, MaC, Catalyst, Koodos Labs, Big Tech Locations: 1kx, San Francisco , New York, Lisbon, Acrew, San Francisco, Berlin, Los Angeles and New York, Los Angeles, New York, Rythm

☆ Young startups are feeling the pinch as seed funding succumbs to the VC winter
▼ + stars: | 2023-09-13 | by ( Melia Russell | ) www.businessinsider.com time to read: +6 min

There were 441 seed rounds recorded on Carta in the second quarter of this year, the slowest quarter for deal activity since early 2019. Funding for early-stage startups leveled off in the second quarter of this year. That has to do in part with a greater number of seed startups trying to raise extension rounds, multiple investors said. Carta data shows the median seed valuation hit $13.7 million in the second quarter, which is significantly higher than any quarter prior to 2021. "The founders that are raising seed rounds are raising them for decent cash and at decent valuations — healthy on both fronts," said Peter Walker at Carta.

Persons: That's, Jenny Fielding, Fielding, Carta, Andreessen Horowitz, they're, Marlon Nichols, Lily Lyman, —, it's, Brian Sugar, Sugar, Peter Walker Organizations: Carta, Ventures, New, Sequoia, Greylock Partners, MaC Venture Capital, Fund, Sugar Capital Locations: New York, Boston, Carta

From Karat to Spill, venture capitalists are betting on creator-focused companies in 2023.Insider is highlighting 14 VC firms that are backing startups in the space right now. About three years ago, the "creator economy" was a fiery buzzword that emerged out of the bustling influencer-marketing and social-media industries. By 2021, the space had raised approximately $939 million in venture capital, according to Crunchbase data. Insider is highlighting over a dozen VC firms, as well as their partners who specialize in creator-focused startups, that are funding the next wave of creator-economy companies. Here are 14 VC firms funding the creator economy in 2023:Note: Firms are listed in alphabetical order.

Persons: Marlon Nichols, Nichols, Karat Organizations: MaC Venture

☆ MaC Venture Capital hires TCG veteran Jennifer Randle as its first chief operating officer
▼ + stars: | 2023-08-15 | by ( Melia Russell | ) www.businessinsider.com time to read: +4 min

MaC Venture Capital has hired Jennifer Randle as its first COO. In less than three years, MaC Venture Capital has become a presence in the tech ecosystem that cannot be ignored. Jennifer Randle, a finance and operations veteran, has joined MaC as its first chief operating officer — a sign of a maturing firm with more personnel and funds to manage. In this role, Randall will support firm operations from finance and accounting to investor relations and IT. In April of 2023, according to data gathered by Venture Forward, Deloitte, and the National Venture Capital Association, Black investors made up only 4% of investment partners with decision-making responsibilities.

Persons: Jennifer Randle, Randle, MaC, —, Randall, Peter Chernin, That's, Marlon Nichols, Nichols Organizations: MaC Venture Capital, Chernin, nab, MaC, Capital Partners, KPMG, Venture, Deloitte, National Venture Capital Association Locations: America, Mansa

From Karat to Spill, venture capitalists are betting on creator-focused companies in 2023.Insider is highlighting 14 VC firms that are backing startups in the space right now. By 2021, the space had raised approximately $939 million in venture capital, according to Crunchbase data. Many startups have raised money in 2023, from pre-seed stages to larger later-stage rounds. Insider is highlighting over a dozen VC firms, as well as their partners who specialize in creator-focused startups, that are funding the next wave of creator-economy companies. Here are 14 VC firms funding the creator economy in 2023:Note: Firms are listed in alphabetical order.

Persons: Marlon Nichols, Nichols, Karat Organizations: MaC Venture

☆ Venture capital for Black entrepreneurs plummeted 45% in 2022, data shows
▼ + stars: | 2023-02-02 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +8 min

Dixon is one of many Black entrepreneurs who struggled to secure funding for their businesses and relied on venture capital financing earmarked for diverse founders. While Dixon and many others have ultimately succeeded, Black-led businesses and Black founders have historically faced disparities in securing VC funding. Overall, Black entrepreneurs typically receive less than 2% of all VC dollars each year while companies led by Black women receive less than 1%, according to data from Crunchbase. That drop is the largest year-over-year decrease Black entrepreneurs have seen over the past decade. "Venture capital is a very privileged and exclusive industry, and has always been that way.

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