expenses

Enterprise

reserves 2023: Techstars Leaks Financial Report Revealing $7 Million Loss, Yet Remains Well-Funded

Leaked documents show Techstars lost $7 million in 2023 but still had plenty of cash Cuts to Techstars programs are not surprising given its 2023 financial performance. Cuts to Techstars’ staff and its decision to shutter certain accelerators came after it missed its 2023 revenue goals, according to documents outlining its preliminary 2023 results viewed by TechCrunch. Techstars 2023 budget targeted an average of 68 “active accelerator programs,” but was reduced to 61 in its mid-year forecast. The good news was that TechStars had plenty of cash in 2023 to handle these troubles and its closing cash balance in 2023 was actually much better than originally anticipated. But these documents reveal that the company closed last year with around $50 million in cash for its operational budget.

Kira Kim
February 28, 2024

Apps, Fintech

Top affordable budgeting apps for individuals, startups and small enterprises

You may be looking to switch out your current budgeting app for a better one, or perhaps you’re someone who has traditionally relied on spreadsheets. For individuals, a good budgeting app can help you save money by creating and sticking to a monthly budget. For startups and small businesses, a good budgeting app can help you understand your company’s financial health and make informed decisions. Best apps for startups and small businessesFreshBooksFreshBooks is a simple tool that can help startups and small businesses create a budget and stick to it. Although it’s marketed as a personal budgeting app, Toshl can be a good tool for new startups looking to understand and manage their finances for a fraction of the cost of budgeting apps marketed toward small businesses.

Kira Kim
December 29, 2023

Apps, Fintech, Startups

Greenlight Lays Off 104 Employees to Cut Costs

Greenlight, kids-focused fintech startup, lays off 104 employees to optimize expenses • TechCrunch

Greenlight, a fintech startup offering debit cards to kids, has laid off 21% of its workforce – 104 employees out of 485 – due to the economic slowdown. This decision…