Softbank lost over $10 million PER HOUR in Q2
Kate Reznykova
August 10, 2022
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🇬🇧 The UK leads by both enterprise value and VC funding in Europe
The number of acquisitions and buyouts reached an all-time high. Europe posted its second-highest half-year on record for venture capital funding. The United Kingdom concentrates 32% of the value created in Europe in 2022 and 35% of European venture capital investments in H1 2022, followed by Germany and France, respectively. Unicorn creation is a lot more distributed throughout Europe.
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🖥️ So how exactly is open source creating revenue?
In the past few years, the world has seen open source software replace some of the closed source companies, with companies tearing up and replacing critical infrastructure with newer and better open source alternatives. I think this trend will only intensify as we see the big software giants struggling to compete with a new type of competitor who, instead of spending hundreds of millions on marketing, is taking advantage of a large and vibrant community of users to choose market
Less than a decade ago, open source was considered almost impossible to monetize.
Many of the top OSS companies today rely on an "Open Core" business model, where the company keeps all of the core functionality of the product open source but charges for a small set of premium, closed-source features. When an open-source business model works well, it is one of the best we have seen.
OSS data is anonymised.
cash flow 🤑
Auddy, a London-based startup that provides producing, advertising and comms podcasting solutions for businesses, has secured £2.5m in funding
London-headquartered Penfold has closed £7m for its digital pension service in a Series A investment round led by Bridford Group
Employee benefits platform Ben has closed a $16m (£13m) Series A investment to accelerate the development of its software and payments technology
twitter spotlight 🔦
The funniest transfer of wealth in modern times is the SoftBank Vision fund which took $100 billion in Saudi oil money and gave it to founders who were “reimagining salad delivery” and building coupon apps for dogs that required $2B in funding.
— Chris Bakke (@ChrisJBakke)
Aug 8, 2022
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