Connect with us

Crunchbase

Exclusive: Boston’s Aryeo Raises $3.65M Seed Round

The Boston-based startup aims to streamline content in the real estate industry, helping agents get photos and other types of content where it needs to go.

Published

on

Real estate content platform Aryeo has raised $3.65 million in seed funding, the company told Crunchbase News.

The Boston-based startup aims to streamline content in the real estate industry, helping agents get photos and other types of content where it needs to go. Hyperplane Venture Capital and Amplo led the seed round.

Subscribe to the Crunchbase Daily

Aryeo co-founders Brendan Quinlan, Matt Michalski, and Branick Weix.

If you’ve bought or sold a home before or done any late-night Zillow surfing, you know how important photos and videos are to a home listing. Photos and 3D tours are essential to selling a home, especially now, according to Aryeo CEO Branick Weix, given the COVID-19 pandemic and the social distancing guidelines that have come with it.

“It’s very similar to a Dropbox system, but it’s more tailored to the real estate industry,” Weix said in an interview.

Aryeo goes a step further than Dropbox. When content is uploaded into the system, Aryeo automatically makes promotional materials for the property, such as flyers, Facebook ads and a website.

One of Weix’s first jobs in high school was as a photographer taking photos for real estate agents. Most people don’t even realize that’s a job or industry, he added.

The idea for Aryeo came about when drones became more popular and real estate agents were interested in using drone footage to market homes. Aryeo’s co-founders Weix, Brendan Quinlan, and Matt Michalski began a drone photography business in Minnesota, but it wasn’t long before agents began asking for more content, and the team realized all of the pain points involved with getting content where it needed to be.

“How things normally work for many of these agents, they just have content emailed to them and they have to download it to their computer and then they have to go to all these sites separately,” Weix said.

Consolidating content in a “highly fragmented marketplace with multiple data sources” is a pressing need in the real estate industry, and Aryeo’s platform can universally solve the problem, Hyperplane VC managing partner Vivjan Myrto said in a statement.

The company was founded in 2019, and Aryeo processed more than 50,000 homes last year, or about 1 percent of the total annual home sales in the United States. The company works with more than 40,000 real estate agents and photographers and operates in all 50 states and countries including Canada, Belgium, Australia, and South Africa.

The company, which currently has around 15 employees, plans to use the funding to hire, especially in sales and customer support, Weix said. Most of its work so far has been with photographers, but the company is expanding and building out tools to work more with agents and brokers.

Aryeo bootstrapped for the first 1.5 years and grew through word of mouth before raising $3.6 million in outside funding.

Other investors in the company include Contrary, Shutterstock founder Jon Oringer, and WePay founder Bill Clerico.

Illustration: Li-Anne Dias

Photo courtesy of Aryeo.

Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

If you’ve bought or sold a home before or done any late-night Zillow surfing, you know how important photos and videos are to a home listing. Photos and 3D tours are essential to selling a home, especially now, according to Aryeo CEO Branick Weix, given the COVID-19 pandemic and the social distancing guidelines that have come with it.

Source: https://news.crunchbase.com/news/exclusive-bostons-aryeo-raises-3-65m-seed-round/

exclusive:-boston’s-aryeo-raises-$3.65m-seed-round

Crunchbase

Inside Didi’s Massive IPO Filing

Backed by investors including SoftBank and Toyota, Didi last raised venture financing with a $500 million round led by SoftBank in May 2020, per Crunchbase.

Published

on

Chinese ride-hailing company Didi Chuxing has filed to go public in the United States.

Subscribe to the Crunchbase Daily

Didi is more or less the Uber of China. In fact, the company bought Uber’s operations in China back in 2016. And now it’s looking to go public in a deal that could value it at more than $70 billion, according to The Wall Street Journal.

Backed by investors including SoftBank and Toyota, Didi last raised venture financing with a $500 million round led by SoftBank in May 2020, per Crunchbase. It also raised $1.5 billion in debt financing in April 2021.

SoftBank, Uber and Tencent are among the largest shareholders in the company, which is based in Beijing. Uber became a stakeholder in the company after selling its Chinese operations to Didi.

Didi operates in 15 countries and has 493 million annual active users, along with 15 million annual active drivers, according to its F-1. The company reported having 41 million average daily transactions on its platform.

In terms of numbers, the company reported $21.6 billion in revenue last year. Although that figure is down from the nearly $24.2 billion in revenue the company generated in 2019, it’s nothing to scoff at and can likely be attributed to the COVID-19 pandemic. Its losses came out to about $2.1 billion in 2020, up from about $1.25 billion in 2019. The company isn’t profitable, and has had losses every fiscal year since it was founded in 2012.

Didi detailed how the pandemic affected its business, reporting that operations rebounded in the second half of 2020.

“The demand for our mobility offerings, as well as the supply of drivers, decreases drastically under such conditions. Our Core Platform GTV fell by 32.8% in the first quarter of 2020 as compared to the first quarter of 2019, and then by 16.0% in the second quarter of 2020 as compared to the second quarter of 2019,” the company wrote in its filing. “Our businesses resumed growth in the second half of 2020, which moderated the impact on a year-on-year basis.”

Goldman Sachs, Morgan Stanley and J.P. Morgan are among the underwriters for the IPO.

The company applied to list on the New York Stock Exchange under the ticker DIDI.

Illustration: Li-Anne Dias

Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

Source: https://news.crunchbase.com/news/ride-hailing-giant-didi-chuxing-files-for-us-ipo/

inside-didi's-massive-ipo-filing

Continue Reading

Crunchbase

Card Issuer Marqeta Valued At More Than $17B in Nasdaq Debut

Chief Marketing Officer Vidya Peters tells Crunchbase News that the IPO “has been a wonderful validation of the modern card issuing industry.”

Published

on

Shares of Marqeta, an Oakland-based modern card issuing platform, popped on the first day of trading Wednesday, closing at $30.52 per share, up 13 percent from opening price of $27. Marqeta is listed on the Nasdaq Global Select Market under the symbol MQ.

Subscribe to the Crunchbase Daily

Marqeta now has a market value of $17.3 billion, according to Yahoo, which is based on 586 million of outstanding shares.

The company filed in May to go public via an initial public offering. Since its inception in 2010 by Jason Gardner, Marqeta has raised a total of $528 million in known venture capital, according to Crunchbase data. Its last disclosed round in May 2020 valued the company at $4.3 billion.

Vidya Peters, chief marketing officer for Marqeta, told Crunchbase News that the IPO “has been a wonderful validation of the modern card issuing industry and what we have done over the last decade.”

She went on to say that there is a “massive $74 trillion market opportunity ahead of us, which provides an endless runway.”

And, as a payments infrastructure company, being publicly traded enables Marqeta to be transparent on its financial health to stakeholders and customers.

“It also provides a massive arsenal to accelerate our product roadmap and fuel our global expansion,” Peters added. “We are already in 36 countries and now we can accelerate even faster.”

To complement prepaid and debit card offerings, in the past year Marqeta added credit, which Peters touted as being the first company to offer all three.

She also believes this is just the start for what Marqeta can enable with innovative offerings, such as open APIs so that developers can build their own card-issuing products.

“Marqeta is just scratching the surface with cards,” Peters added. “Imagine being able to have your check deposited onto your card, buy now, pay later, peer-to-peer payments and even monetize your cryptocurrency. The possibilities are endless, and in our next chapter we are in a position to unlock all of that with our card types.”

Among the S-1 statement disclosures, Marqeta touts customers, such as Affirm, DoorDash, Instacart, Klarna and Square, which it reported was its largest customer, accounting for 70 percent of its net revenue in 2020.

It reported $350 million in fourth-quarter 2020 annualized net revenue, operates in 36 countries, and has issued more than 320 million debit, credit and prepaid cards to date.

The company reported $107.9 million in revenue for the first quarter ended March 30, 2021, more than double from the same three-month period in 2020. It narrowed its net loss to $12.8 million during the quarter from $14.5 million last year.

Prominent backers include 83North II, Coatue, ICONIQ Capital, Granite Ventures and Discover Financial Services, according to its filings. With the exception of Discover, all of the remaining entities led investments into the company, according to Crunchbase data.

Illustration: Li-Anne Dias

Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

The company filed in May to go public via an initial public offering. Since its inception in 2010 by Jason Gardner, Marqeta has raised a total of $528 million in known venture capital, according to Crunchbase data. Its last disclosed round in May 2020 valued the company at $4.3 billion.

Source: https://news.crunchbase.com/news/card-issuer-marqeta-begins-trading/

card-issuer-marqeta-valued-at-more-than-$17b-in-nasdaq-debut

Continue Reading

Crunchbase

ID Verification Company Clear Files To Go Public As Travel Picks Up

If you’ve walked through security at a major airport in the United States, you’ve likely seen signage for Clear, which allows enrolled members to pass through a security checkpoint quickly by scanning their eyes and face.

Published

on

Clear, the company known for using biometric data to verify identities, has filed to go public.

Subscribe to the Crunchbase Daily

If you’ve walked through security at a major airport in the United States, you’ve likely seen signage for Clear, which allows enrolled members to pass through a security checkpoint quickly by scanning their eyes and face.

While it’s perhaps best known for its airport usage (investors in the company include United Airlines and Delta Air Lines), Clear is also used for identity verification and security at live events. The New York-based company reported having 5.6 million cumulative enrollments. Clear is available in 38 airport locations and works with 26 sports and entertainment partners, according to the company.

Among the largest stockholders in the company are Delta Air Lines, General Atlantic, and T. Rowe Price.

Clear is heavily reliant on travel and live events, both of which were essentially put on pause during the COVID-19 pandemic. But even though travel and live events took a hit, Clear still grew its memberships and revenue, and brought down its losses, according to its S-1.

The company reported nearly $230.8 million in revenue last year, up 20 percent from $192.3 million in 2019. Though the company’s total bookings declined 10.6 percent from 2019 to 2020, its net losses shrunk down from $54.2 million in 2019 to $9.3 million in 2020.

The company acknowledged in the “Risk Factors” section that the pandemic limited its growth in airports, the entertainment industry, and events.

“We experienced a decrease in enrollments for our airport service and a decrease in membership renewals,” the company wrote. “In fiscal year 2020, our Annual CLEAR Plus Net Member Retention declined to 78.8% (compared to 86.2% in fiscal year 2019). We expect that COVID-19 will continue to adversely impact our airport enrollments and business in 2021 and possibly beyond.”

Clear also acknowledged that its performance is dependent on the strength of the travel industry, since it “derived substantially all of our historical revenue from members who enroll in CLEAR Plus, which includes our Registered Traveler Program service at U.S. airports, and one of our growth strategies is to continue expanding in our domestic aviation network.”

Goldman Sachs and JP Morgan are among the underwriters for the IPO. The company intends to list on the New York Stock Exchange under the ticker YOU.

Illustration: Dom Guzman

Stay up to date with recent funding rounds, acquisitions, and more with the Crunchbase Daily.

Source: https://news.crunchbase.com/news/id-verification-company-clear-files-to-go-public-as-travel-picks-up/

id-verification-company-clear-files-to-go-public-as-travel-picks-up

Continue Reading

Title

Crunchbase51 mins ago

Inside Didi’s Massive IPO Filing

Backed by investors including SoftBank and Toyota, Didi last raised venture financing with a $500 million round led by SoftBank...

Entrepreneur9 hours ago

The Unbearably High Price of ‘Free’

Using the word 'free' in your marketing is a quick way to get attention, but it's also a double-edged sword...

CNBC12 hours ago

RH beats earnings, hikes outlook as retail rebound boosts high-end home goods; shares jump

Shares of the high-end furniture retailer surged Wednesday after the company beat analysts' profit and sales estimates for the fiscal...

Techcrunch14 hours ago

Jeff Bezos’ Blue Origin auctions off seat on first human spaceflight for $28M – TechCrunch

Blue Origin has its winning bidder for its first ever human spaceflight, and the winner will pay $28 million for...

Ventureburn17 hours ago

Spot Money app launches stokvel feature

Spot Money has released a shared wallet feature on their fintech app, Spot to create transparency for shared financial investments...

CNBC20 hours ago

Blue Origin auctions seat on first spaceflight with Jeff Bezos for $28 million

The winning bidder will fly to the edge of space with the Amazon founder on Blue Origin's New Shepard rocket...

Blockchain news1 day ago

Long-Term Bitcoin Holders Keep Stacking While Short-Term Holders Keep Selling

On-chain analyst William Clemente III revealed that long-term holders keep on stacking as short-term holders keep on selling.

Coinpedia1 day ago

Shiba Inu Price Plunge Hard! Should You Buy the Ongoing Dip?

Shiba Inu Price needs to climb back above $0.000007. If SHIB Price is able to break through this resistance, it...

Techcrunch2 days ago

UBS investment makes Byju’s the most valuable startup in India – TechCrunch

Edtech giant Byju’s has become the most valuable startup in India after raising about $350 million in a new tranche...

CNBC2 days ago

GameStop sales rise 25% as retailer chases e-commerce growth, says it may sell 5 million shares

GameStop sales rose 25% in the fiscal first quarter as the company focuses on e-commerce and tries to stage a...

Review

    Select language

    Trending