Crypto unicorns navigate trying times

Plus, Big Tech keeps trimming jobs November 13, 2023 Hi, {NAME}. The tech world is still in a rough patch. Nearly two-dozen U.S. tech companies — from well-known tech giants (ahem, [Amazon]( [Google]( to lesser-known startups — [reported layoffs last week](. And many of the cryptocurrency unicorns born during the 2021 venture boom [now find themselves facing down less prosperous times](. Let’s take a look. 📉 [Crypto unicorns navigate trying times]( More than 90 cryptocurrency startups were minted as unicorns in recent years, but amid a swift market downturn, many of those are facing valuation cuts, layoffs and other internal strife. We look at some of those startups whose unicorn horns may be a bit shorter. Related Crunchbase Pro list: [Crypto And Blockchain Unicorns]( ✂️ [Layoffs Tracker: Big Tech keeps trimming]( [Amazon]( [Google]( and, less surprisingly, [Cruise]( all reported job cuts last week, and a pair of venture-backed startups announced they were shutting down completely. 💰 [Record number of companies seek financing in bifurcated market]( The spike in demand for capital among startups has presented a deal-flow challenge for many venture funds this year, writes investor [Don Butler]( who says his firm is running at more than twice its normal volume of quarterly prospects. 🦄 [Cyber leads new unicorn count for October]( Two of the nine new unicorns that joined the [Unicorn Board]( last month focus on cybersecurity, while a single company was in the generative AI category — a startup based in Beijing that is less than a year old. Related Crunchbase Pro list: [The Crunchbase Private Unicorn Company List]( 😬 [SoftBank’s Vision Fund posts $1.7B loss]( [SoftBank Group]( once-heralded [Vision Fund]( unit posted a $1.7 billion loss for its most recent quarter, in part due to the writing down of its stake in now-bankrupt [WeWork](. 👋 [How to approach an investor for the first time]( [Alex Menn]( partner at [Begin Capital]( says that his fund alone receives about 10,000 pitches a year from startup founders looking for funding. Menn shares advice for how to break from the crowd to find and pitch potential investors. [Crunchbase ROI Calculator]( [See the number of new accounts Crunchbase can add to your funnel with our advanced prospecting ROI calculator powered by Crunchbase data.]( [Calculate]( Recent Investments [UBS]( [$3.5B]( / [Post-IPO Debt]( UBS is a global financial services company that engages in wealth management, investment banking, asset management, and retail banking. Categories: Asset Management • Banking • Commercial Lending • Financial Services • Impact Investing • Venture Capital • Wealth Management [Apollo]( [$500M]( / [Post-IPO Debt]( Apollo is an asset management firm that focuses on the private investment-grade and fixed-income markets. Categories: Asset Management • Credit • Financial Services • Property Management • Real Estate Founders: [Josh Harris]( [Leon Black]( [Marc Rowan]( [Photonic]( [137M CAD]( / [Venture Round]( Photonic develops quantum computing and networking technologies, utilizing silicon spin qubits and native telecom networking interface. Categories: Hardware • Machinery Manufacturing • Quantum Computing Founders: [Stephanie Simmons]( Investors: [Amadeus Capital Partners]( [BCI]( [Inovia Capital]( [+ 2 more]( More Fundings Company Amount / Round Lead Investor [Venture Global LNG]( $1.0B / [Debt Financing]( - [Heineken]( 600M EUR / [Post-IPO Debt]( - [GoMechanic]( 500M INR / [Venture Round]( - [Ghost Autonomy]( $5.0M / [Funding Round]( [OpenAI Startup Fund]( [All Recent Funding Activity]( Recent Acquisitions [Camin Cargo Control]( Pending acquisition by [Macquarie Capital]( for Unknown More Acquisitions Company Acquired By Amount [TM Capital]( [Janney Montgomery Scott, LLC.]( Unknown [All Recent Acquisition Activity]( Upcoming Tech Events [Growth Industry Conference 2023]( November 16 - 16, 2023 in Shibuya Growth Industry Conference 2023 is a hybrid global conference and community specializing in the growth industry. Accelerator Deadlines Date Accelerator Location Nov 10, 2023 [SHRMLabs]( Alexandria Nov 10, 2023 [Meet Ventures]( Singapore [More Upcoming Deadlines]( Don’t see your event? Reach out to us at events@crunchbase.com. #{Rails.configuration.daily.cb_url} Discover innovative companies and the people behind them. [Follow Us on Crunchbase]( [View Jobs on LinkedIn]( [Follow Us on Twitter]( [Like Us on Facebook]( 564 Market St, San Francisco, CA 94104 © 2023 Crunchbase Inc. All rights reserved. [Privacy Policy]( | [Terms of Service]( [Unsubscribe]( from Crunchbase Daily.