Spotify has released its Q2’24 earnings report. Financial results has improved significantly, to €266 million in operating income, as revenue has grown around 20 % year-over-year, gross margin improved to 29.2 % and other costs were down 16 %.
Annualized gross profit per employee was €603,000, up from €520,000 in Q1’24. Driven by higher revenue and gross margin, as well as 4.5 % fewer full-time employees
Leya Law has raised $25 million in a Series A led by Redpoint, with Benchmark and Y Combinator among previous investors participating.
This just a few months after the $10.5 million seed round was announced.
Likely a combination of team, product and traction making Leya Law a top 3 contender and the fact that venture investors see an opportunity to charge for the work and not seats when applying generative AI to professional services areas like law.
According to data from Carta’s Peter Walker, the startup investing landscape in the US improved slightly in Q2’24. Dollars invested slightly higher, and other metrics seem to indicate a bottoming out of the slower activity.
Coatue has released the video of the State of the Market presentation they held at the East Meets West 2024 conference. It gives their view of the state of private and public technology markets, AI as the next super cycle, how things are going for current unicorns, what is required to IPO in the US and many more things.
Separate slides will likely follow later.
Most days in building and/or investing in startups are pretty quiet from the outside, even as a lot normally happens out of the spotlight.
Today is not one of those quiet days for Alliance VC, as both Steep’s €4 million seed round and Versiro’s €2.3 million round were announced today.
Steep is building a modern business intelligence tool, that is an alternative to Tableau, Looker and Metabase.
Versiro uses artificial intelligence to provide real-time decision support for power producers allowing them to optimize energy market decisions, which is especially important with a higher share of renewable energy sources