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Read previewInvestors couldn't get enough of grocery delivery startups during the pandemic. Rohlik is on a pathway to profitability and has broken even in several key cities, CEO Tomas Cupr told Business Insider. Advertisement"The online grocery industry didn't have the best year in 2023, but we're still growing, which is super positive," Cupr told BI. At least 19 grocery delivery startups were operating across Europe at the height of the market. "The grocery delivery market remains a challenging area in Europe.
Persons: , Tomas Cupr, Cupr, we've, Turkey's, Germany's, Nalin Patel, Jan Hammer Organizations: Service, Venture, Business, Ventures Locations: Europe, Prague, Czechia, Hungary, Munich, London, Paris, Budapest, Vienna, Istanbul, New York
The lack of liquidity is making it even more difficult for VCs to raise new funds, analysts said. PitchBook's Nalin Patel said LP money could become trapped in companies that were "overdue an exit." Venture capital-backed exits have continued to collapse in 2023, piling pressure on general partners already facing a torrid time trying to raise funds from institutional investors. This represented a 40% decline on the $161.4 billion worth of exits posted during the same period last year. In a performing exit market growth stage companies like fintech giant Stripe, buy now, pay later firm Klarna, and software firm Databricks may all have already gone public.
Persons: PitchBook's Nalin Patel, Wise, Klarna, Kyle Stanford, Nalin Patel, Stanford Organizations: Venture, PitchBook's EMEA, Global, Companies Locations: Deliveroo, PitchBook's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailValuations declining, fundraising more challenging across IPO market, says analystNalin Patel, lead private capital analyst for EMEA at PitchBook, discusses his outlook for the IPO market over the next year.
Microsoft's $1 billion investment into OpenAI may be one of the shrewdest bets in tech history. OpenAI released AI bot ChatGPT and is in discussions to raise capital at a $30 billion valuation. "We believe Microsoft's investment in OpenAI will translate to significant underappreciated upside," Luria wrote. Investors may be souring on speculative tech but AI looks resilientThere is speculation that Microsoft may look to buy OpenAI. That suggests investors will still look to pile into the hottest AI companies, cementing the value of Microsoft's deal.
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