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.
How Your Start-up Can Leverage the Looming Recession with Phil Sanders, Investment Principal at New Media Ventures
A recession is coming — or we’re already in it. How should your start-up respond? Join investor Phil Sanders, Investment Principal at New Media Ventures, as he shares how start-ups can utilize creative fundraising techniques, non-dilutive capital opportunities, and team-building strategies in tough economic times.
salinna@houseofkin.design December 18, 2022