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Embarc Collective Member Startups Surpass the 5-Year Milestone

Retrieved on:

Wednesday, March 20, 2024

Certification, Organization, Carta, Bucking, Bureau, Entrepreneurship, Blog, Generative, Video game

Having launched in 2019 with 25 member startup companies, Embarc Collective has gone on to serve 220 Florida-based startups, which have created nearly 1,000 net new jobs.

Key Points:

Having launched in 2019 with 25 member startup companies, Embarc Collective has gone on to serve 220 Florida-based startups, which have created nearly 1,000 net new jobs.
Over 5 years, Embarc Collective has delivered over 6,000 hours of 1:1 coaching to its startup membership and nearly 400 workshops specifically curated to address the goals and challenges of the Embarc Collective startup community.
“Entrepreneurs affiliated with Embarc Collective are linked by the drive and focus required to endure the ups and downs of startup building,” said Embarc Collective CEO Lakshmi Shenoy .
Embarc Collective will celebrate its 5th anniversary and recognize the accomplishments of its membership during its annual Leadership Summit for Embarc Collective member startups in May, appropriately themed “Outlast.” To learn about the original members of Embarc Collective still operating today, see our blog.

Remote Acquires Easop to Help Companies Grant and Manage Equity for Global Talent

Retrieved on:

Tuesday, April 2, 2024

Professional Services, Payments, Technology, Human Resources, Software, Internet, Carta, Acquisition, Evergreen, Cooley LLP, Management

Remote , the leader in building, managing, and supporting globally distributed workforces, has completed the acquisition of Easop , the compliance solution for businesses with international talent to grant and manage equity to their teams across 70+ countries.

Key Points:

Remote , the leader in building, managing, and supporting globally distributed workforces, has completed the acquisition of Easop , the compliance solution for businesses with international talent to grant and manage equity to their teams across 70+ countries.
The acquisition will make it even simpler for Remote customers to offer equity to team members in any location, enhancing the attractiveness of their compensation packages and providing a competitive edge for talent.
Equity incentives are an effective tool for startups and other companies to attract and retain talent.
Tens of thousands of companies use Remote to find, hire, manage, and pay talent all over the world, whether as direct employees, contractors, or through Remote as employer of record in countries where they don’t have legal entities.

Mogo Reports Results for Q4 & FY 2023

Retrieved on:

Wednesday, March 20, 2024

Q4 2023 gross profit of $11.5 million (67% margin), versus $11.7 million (68% margin) in Q4 2022.

Key Points:

Q4 2023 gross profit of $11.5 million (67% margin), versus $11.7 million (68% margin) in Q4 2022.
Adjusted EBITDA1 increased to $2.7 million in Q4 2023 (16.0% margin), up from $2.1 million (12.8% margin) in Q3 2023 and $0.2 million (1.4% margin) in Q4 2022.
Net income (loss) improved to income of $8.5 million in Q4 2023, compared with net loss of $74.9 million in Q4 2022.
Adjusted net loss1 decreased to $2.6 million in Q4 2023 from adjusted net loss of $5.4 million in Q4 2022.

Uzum becomes first tech unicorn in Uzbekistan after raising over $100 mln in funding

Retrieved on:

Tuesday, March 26, 2024

BNPL, Automation, KPMG, Software as a service, Growth, Intercom, Digital, Fintech, Carta, ThoughtSpot, Gupshup, GDP, Ecosystem, Automation Anywhere, Series

TASHKENT, Uzbekistan, March 26, 2024 /PRNewswire/ -- Uzum, a leading digital services ecosystem in Uzbekistan, has secured more than $100 mln in funding through a combination of a Series A funding round and debt financing, making Uzum the first tech company in Uzbekistan to achieve unicorn status with a post-money valuation of over $1 billion.

Key Points:

TASHKENT, Uzbekistan, March 26, 2024 /PRNewswire/ -- Uzum, a leading digital services ecosystem in Uzbekistan, has secured more than $100 mln in funding through a combination of a Series A funding round and debt financing, making Uzum the first tech company in Uzbekistan to achieve unicorn status with a post-money valuation of over $1 billion.
Uzum secured over $50 mln in equity through a Series A funding round consisting wholly of primary investments.
Investors taking part in the Series A funding round will receive stakes of less than 5% in the company.
All of the ecosystem's components are now being integrated into two superapps: Uzum for individuals, and Uzum Business for legal entities.

Uzum becomes first tech unicorn in Uzbekistan after raising over $100 mln in funding

Retrieved on:

Tuesday, March 26, 2024

BNPL, Automation, KPMG, Software as a service, Growth, Intercom, Digital, Fintech, Carta, ThoughtSpot, Gupshup, GDP, Ecosystem, Automation Anywhere, Series

TASHKENT, Uzbekistan, March 26, 2024 /PRNewswire/ -- Uzum, a leading digital services ecosystem in Uzbekistan, has secured more than $100 mln in funding through a combination of a Series A funding round and debt financing, making Uzum the first tech company in Uzbekistan to achieve unicorn status with a post-money valuation of over $1 billion.

Key Points:

TASHKENT, Uzbekistan, March 26, 2024 /PRNewswire/ -- Uzum, a leading digital services ecosystem in Uzbekistan, has secured more than $100 mln in funding through a combination of a Series A funding round and debt financing, making Uzum the first tech company in Uzbekistan to achieve unicorn status with a post-money valuation of over $1 billion.
Uzum secured over $50 mln in equity through a Series A funding round consisting wholly of primary investments.
Investors taking part in the Series A funding round will receive stakes of less than 5% in the company.
All of the ecosystem's components are now being integrated into two superapps: Uzum for individuals, and Uzum Business for legal entities.

Collective Liquidity Launches Zero Interest Option Exercise Loans

Retrieved on:

Tuesday, February 27, 2024

APR, Risk, Exercise, Carta, Entrepreneurship, Risk management, Security (finance)

NEW YORK, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Collective Liquidity, Inc. today announced the launch of Option Exercise Loans for unicorn employees. The loans will pay the employees’ exercise price on their stock options. Where some private market lenders charge interest rates and stock fees that can result in annual borrowing costs in excess of 20% annually, the Option Exercise Loans, issued by WebBank and available through Collective will charge a 0% interest rate and have no stock fees. Borrowers will pay just a 2.5% loan origination fee2 (estimated APR 15%). By combining the new loans with Collective’s existing solutions, Collective enables employees of private growth companies to seamlessly exercise their options, reduce their risk, obtain immediate liquidity, and start building long-term wealth all in a single transaction.

Key Points:

NEW YORK, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Collective Liquidity, Inc. today announced the launch of Option Exercise Loans for unicorn employees.
Where some private market lenders charge interest rates and stock fees that can result in annual borrowing costs in excess of 20% annually, the Option Exercise Loans, issued by WebBank and available through Collective will charge a 0% interest rate and have no stock fees.
Another benefit for employees from the new loan program is that instead of having to assemble a patchwork of different service providers to address their different option exercise, risk management, liquidity and investment needs, the Option Exercise Loans are bundled with Collective products into a single, seamlessly integrated solution immediately available over the Collective website .
Collective’s CEO and Co-Founder, Greg Brogger, said, “With the launch of Option Exercise Loan program, it is much easier for customers to obtain liquidity for the options they worked so hard to earn and we’re even more excited to be able to do it without charging them interest or stock fees.”
1 Option Exercise Loans will charge 0% in interest and a 2.5% loan origination fee.

Danish Start-up BeCause Raises Nearly $2M to Revolutionize Sustainability in the Travel and Tourism Industries

Retrieved on:

Wednesday, November 29, 2023

COPENHAGEN, Denmark, Nov. 29, 2023 /PRNewswire/ -- BeCause, the Danish start-up transforming how the global hospitality, travel and tourism industries manage their sustainability data, announced today that it has secured $1.9 million (€1.75M) in seed funding from investors. The round, co-led by Denmark's Ugly Duckling Ventures and Estonia's Superangel.io, includes a $708,000 (€650K) open tail-end and the $1.9 million for strategic investors to join on equal terms.

Key Points:

With a $450,000 angel investment from earlier this year, BeCause has raised $2.6 million (€2.4M) to date.
In an era of heightened consumer scrutiny and regulatory compliance, BeCause enables hotels, travel brands and marketplaces to streamline, simplify and reduce the costs of managing their sustainability data.
"We're very excited about BeCause's ability to improve sustainability data collection and reporting for the hospitality and tourism industries.
By adopting the BeCause platform, hospitality, travel and tourism brands can responsibly capitalize on this demand.

PEAK SKI COMPANY LAUNCHES CROWDFUNDING INITIATIVE

Retrieved on:

Monday, November 20, 2023

Growth, Axiom Space, Skiing, SpaceX, Publication, News, Republic, Airline, Peak, Carta

BOZEMAN, Mont., Nov. 20, 2023 /PRNewswire/ -- The Peak Ski Company announced today a crowdfunding initiative with Republic Capital Partners, an esteemed investment firm based in New York City that specializes in growth-stage companies. The crowdfunding initiative comes on the heels of Peak completing its primary capital raise. Funds derived from this new crowdfunding initiative will be directed towards the company's growth and strategic initiatives. The Peak Ski Company launched in April of 2022 and its first line of skis received unprecedented ratings, acclaim, and accolades within industry-leading ski tests and publications and platforms.

Key Points:

BOZEMAN, Mont., Nov. 20, 2023 /PRNewswire/ -- The Peak Ski Company announced today a crowdfunding initiative with Republic Capital Partners, an esteemed investment firm based in New York City that specializes in growth-stage companies.
The crowdfunding initiative comes on the heels of Peak completing its primary capital raise.
The Peak Ski Company launched in April of 2022 and its first line of skis received unprecedented ratings, acclaim, and accolades within industry-leading ski tests and publications and platforms.
To learn more and invest in Peak Ski Company, visit peakskis.com/republic .

Gunderson Dettmer Open Sources Cap Express Engine; Announces New Cap Table Platform Integrations with Carta and AngelList

Retrieved on:

Tuesday, November 14, 2023

Thomson Reuters, Ecosystem, Heart, OCF, Technical, API, AngelList, Pulley, Cryptocurrency, Carta, Launch

The firm also announced that integrations with cap table software providers Carta and AngelList are now supported on Cap Express to provide greater choice without sacrificing efficiency for Gunderson's startup company clients.

Key Points:

The firm also announced that integrations with cap table software providers Carta and AngelList are now supported on Cap Express to provide greater choice without sacrificing efficiency for Gunderson's startup company clients.
Gunderson first announced the launch of the Cap Express application with its initial integration partner, Pulley, on August 30, 2023.
Cap Express extracts relevant cap table data from a newly incorporated startup company's formation documents generated using Thomson Reuters' Contract Express document automation software.
The application then repackages the information into the Open Cap Table Coalition's open-source cap table format (OCF) .

Mogo Reports Results for Q3 2023

Retrieved on:

Thursday, November 9, 2023

Adjusted EBITDA1 reached $2.1 million in Q3 2023 (12.8% margin), up from an Adjusted EBITDA loss of ($2.8) million in Q3 2022.

Key Points:

Adjusted EBITDA1 reached $2.1 million in Q3 2023 (12.8% margin), up from an Adjusted EBITDA loss of ($2.8) million in Q3 2022.
Adjusted net loss1 improved to ($2.6) million in Q3 2023 from ($8.4) million in Q3 2022.
Net loss decreased to ($9.5) million in Q3 2023, compared with net loss of ($20.0) million in Q3 2022.
Mogo will host a conference call to discuss its Q3 2023 financial results at 3:00 p.m. EDT on November 9, 2023.