And it did reduce its loss from operations by nearly half, from $506 million in 2022 to $267 million in 2023.
Under a deal reached in November 2020, Canoo reimburses Aquila Family Ventures, an entity owned by the CEO, for use of an aircraft.
In 2023, Canoo spent $1.7 million on this reimbursement — that’s double the amount of revenue it generated.
Canoo paid Aquila Family Ventures $1.3 million in 2022 and $1.8 million in 2021 for use of the aircraft.
This could be chalked up to small monetary potatoes if Canoo reaches its revenue forecast for 2024 of $50 million to $100 million.
Welcome back to TechCrunch Mobility — your central hub for news and insights on the future of transportation.
Remember in the last edition of TechCrunch Mobility, when I wrote that the wheels were starting to come off the Fisker bus?
Deal of the weekIt ain’t easy being an executive at an EV startup these days.
Amid all of the EV startup bankruptcies and other bleak goings-on, there was a bit of positive news.
It seems that Tesla is turning to FSD as another financial lever to pull as profits on automotive sales shrink.
In Stripe’s annual letter, the company discussed several fast-growing areas, one of them being the “Revenue and Finance Automation” unit.
Stripe’s RFA unit will reach a $500 million annual run rate this year, the company said.
So they built a product that helps companies import and centralize customer data from third-party data sources like Salesforce or other customer relationship management systems into their own applications.
How did a tiny four-person startup catch the attention, and an acquisition offer, from mighty Stripe?
Considering the growth Stripe alluded to in its annual letter, Supaglue will likely quickly find fast friends within Stripe’s ecosystem.
The deal is interesting on a number of fronts including the round’s structure and how Skyflow has been impacted by growth of AI.
The new capital comes after Skyflow expanded its data privacy business to support new AI technologies last year.
(In its latest news dump, Skyflow said that it expanded its support of China and that market’s particular data rules.)
This Skyflow round slots neatly into several trends we’ve observed recently.
The explosive growth in AI is creating healthy businesses for LLM infrastructure and support companies.
The 13-year-old cash-back startup looks to make its public debut after turning profitable and recording impressive revenue growth in 2023.
The company reported $320 million in revenue in 2023, up 52% from 2022 when it produced $210 million in revenue.
Ibotta’s gross profits grew 68% from 2022, $164.5 million, to 2023, $276 million.
According to the S-1, this partnership plays a big role in Ibotta’s revenue boost.
“Our revenue growth significantly accelerated with the addition of new publishers to the IPN,” according to the S-1.
Alex Chatzieleftheriou founded Blueground in 2013 after being frustrated with the dearth of short-term furnished apartments in Europe.
In 2022, the company gained a strong foothold in Latin America by buying Tabas, an operator of over 9,0000 furnished apartments in Brazil.
Blueground leases apartments in popular neighborhoods and then equips and furnishes them for renters.
The company didn’t reveal its new valuation, but Chatzieleftheriou said that the company’s value has increased since its previous round.
Sales jumped by 70% to $560 million in 2023 over 2022’s $300 million in gross revenue, Chatzieleftheriou said.
Nvidia could be primed to be the next AWS There are a lot of parallels in the two companies' growth trajectoriesNvidia and Amazon Web Services, the lucrative cloud arm of Amazon, have a surprising amount in common.
But AWS growth has begun to slow down, even as Nvidia’s takes off.
The question is whether Nvidia can sustain that growth to become a long-term revenue powerhouse like AWS has become for Amazon.
The short-term financial outlookAs the above chart notes, Nvida’s revenue growth has been astronomical in recent quarters.
Much like AWS, Nvidia will face stiffer competition eventually, but it controls so much of the market right now, it can afford to cede some.
Stability AI founder and chief executive Emad Mostaque has stepped down from the top role and the unicorn startup‘s board, the buzzy firm said Friday night, making it the second hot AI startup to go through major changes this week.
Stability AI, which has lost more than half a dozen key talent in recent quarters, said Mostaque is stepping down to pursue decentralized AI.
In a series of posts on X, Mostaque opined that one can’t beat “centralized AI” with more “centralized AI,” referring to the ownership structure of top AI startups such as OpenAI and Anthropic.
“We should have more transparent & distributed governance in AI as it becomes more and more important.
“The payoffs on proper generative AI R&D are clearer and faster to market than just about anything we’ve seen.
Astera Labs IPO will reveal how much investors want in on AI Startups with an AI angle would do well to pay attentionWhile the technology world breathlessly awaits Reddit’s public debut, another company you might never have heard of is about to go public: Astera Labs.
While Reddit’s IPO could do well from investors looking to buy a well-known social media company that has an interesting, burgeoning AI data business, Astera Labs is an AI hardware story.
So, on an annual basis, this is far from the kind of profitable company IPO experts say this harsh market requires.
In the third quarter of 2023, Astera Labs’ revenue began growing dramatically: from $10.7 million in Q2 2023 to $36.9 million in Q3, and $50.5 million in Q4.
Putting it all together: Astera Labs has caught a wave thanks to AI data center spending.
Twenty-two slides might seem like too many (the optimal length for a slide deck is around 16 slides these days), but there are some interstitial slides and an appendix in this one, and those don’t really count.
This team slide came as a bit of a surprise:Putting this slide at the end of the deck makes me wonder about the seriousness of this startup.
If it has five business units and 70+ team members, it throws the rest of the deck out of whack.
On slide 12, the company noted it had $7.5 million worth of revenue from just its case study clients.
The full pitch deckIf you want your own pitch deck teardown featured on TechCrunch, here’s more information!
