First and foremost, Fast, a three-year-old one-click checkout firm, announced its closure after failing to obtain further financing to keep operations going. The statement didn’t come as a complete surprise, given that The Information had reported on symptoms of problems the week before. Those hints included the revelation that the startup had only generated $600,000 in revenue for the entire year of 2021 despite raising $120 million in venture capital earlier in the year (in a round led by Stripe) and rumors that the company was having difficulty raising additional funds and, as a result, might be looking for a buyer.
Kapor Capital, Black-led VC firm focused On ‘Impact,’ raises $126 Million
Mitch Kapor and Freada Kapor Klein founded a venture capital firm in 2011 with a counter-intuitive mission: to generate elite investment returns by investing in impact-focused startups that help level
Noah Washington September 27, 2022