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Not all startups mourn IPOs, but liquidity still must flow

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Water drop mapping money dripping from a faucet

Welcome to Startups Weekly — your weekly recap of everything you can’t miss from the world of startups. Want it in your inbox every Friday? Sign up here.

Several startups announced new rounds this week without disclosing their valuation. This doesn’t mean that these were down rounds, but rather it confirms that our collective focus has shifted far away from unicorns: These days, $1 billion can be the ARR (annual recurring revenue) figure a company wants to hit before going public.

Most interesting startup stories from the week

Vinted CEO Thomas Plantenga
Image Credits:Vinted

IPOs are making their way back into the conversation, but not everyone is lamenting their absence.

Secondhand: Vinted was valued at €5 billion in a secondary share sale. The Lithuanian secondhand marketplace joins the growing number of European scale-ups that have followed this route to unlock liquidity for their stakeholders in the absence of IPOs on their roadmap.

Bright side: Ro CEO Zachariah Reitano would “never say never” to taking the telehealth company public, but he thinks the benefits of being a private company are growing, he said in a recent interview.

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Checking boxes: Checking boxes: Wiz hopes that 2025 will be the year its ARR reaches $1 billion, a number its co-founders see as a prerequisite for the cybersecurity company to go public after it declined to get acquired by Google for $23 billion.

Big moves: Fintech company Groww is one of several Indian startups that are relocating their headquarters to India to better comply with local legislation and potentially go public more easily, TechCrunch’s Manish Singh reported.

Tailwinds: U.S. federal regulators have cleared the way for electric vertical takeoff and landing (eVTOL) aircraft to share U.S. airspace with planes and helicopters, a big win for startups in this category.

Most interesting fundraises this week

Finix CEO and founder Richie Serna
Image Credits:Finix

Just a handful of AI-related funding rounds this week, but AI will be central to some really big ones that may be around the corner.

Counter-Stripe: One year after becoming a payment processor, fintech startup Finix raised a $75 million Series C round of funding that will help it grow in the U.S. and expand into more countries. 

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Money circle: Concentric AI recently raised a $45 million Series B round. The San Mateo-based startup operates in the data security posture management space, which had several M&As in recent years.

Open checks: Socket raised $40 million to detect security vulnerabilities in open source code, which software companies are increasingly relying on. 

Augmented: Fixify closed a $25 million Series A round to help IT teams deal with ticket overload thanks to a combination of automation and human analysts.

Rumors: AI search engine Perplexity is reportedly seeking to raise $500 million. Former OpenAI CTO Mira Murati is also said to be fundraising for a new AI startup

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Most interesting VC and fund news this week

Gabriel Weinberg is creator of DuckDuckGo.
Image Credits:Sean Simmers, for The Washington Post / Getty Images

Ducks in a row: Privacy-focused company DuckDuckGo will invest into similarly minded early-stage startups and consider acquisitions. Its past investments include AI model training platform EverArt, TechCrunch learned.

Breathing room: Andreessen Horowitz is making a private GPU cluster available to AI startups in its portfolio through a program called Oxygen, the VC firm confirmed this week.

Partners only: Filings revealed that Benchmark is raising $170 million for a new fund. TechCrunch understands this will be a partners-only fund, where most of the funding will come from the firm’s historical and current partners.

Old and new: U.S. VC veteran firm General Catalyst raised $8 billion in fresh funds. As for new VC firm Chemistry, it raised $350 million for its debut fund.

Last but not least

Accel partner Philippe Botteri
Accel partner Philippe BotteriImage Credits:Accel

The race for AI foundational models is only beginning, and smaller startups still stand a chance, Accel partner Philippe Botteri told TechCrunch. This includes European ones, despite the fundraising gap with their U.S. peers.

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Costway gaming chair with a footrest is now 44% off

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Costway gaming chair with a footrest is now 44% off

If you’re in the market for a new gaming chair, you’re in the right place. Costway has discounted a really appealing gaming chair. If you’re in the market for something like that, you have a chance to save up quite a bit of cash.

The chair on offer is the ‘Costway Massage Gaming Chair with Footrest’, as its official name on Costway’s website reads. It not only includes a footrest, but lumbar support and a headrest too, not to mention a special massage function. So, let’s talk a bit about it.

Costway gaming chair with a footrest is discounted by 44%

If you check out the image below this paragraph, you’ll see the chair in question. It comes in blue, pink, white, and red colors. The blue color is priced at $169 now (44% off), while all the other colors are $10 more expensive. So, they cost $179.

This chair is adjustable, of course. You can not only adjust its height but the armrest height too. It has a flexible backrest angle adjustment, not to mention that the armrest are rotatable too. This swivel chair can spin all the way around, of course, without a problem. There is no fixed point at which it stops or anything like that.

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The footrest on the chair is retractable, so you can use it as you need to. If you need to kick back, you can always push it out. If not, it can stay out of the way while you’re working/gaming at your desk. There are actually a number of different angles you can set up the backrest on this chair, ranging from 90 to 180 degrees.

In fact, Costway even indicated what each of those angles is for. A 90-degree angle, for example, is indicated as meant for ‘work’. A 110-degree angle is great for gaming, while a 150-degree angle is great for relaxing. There is also a flat 180-degree angle which you can use to sleep, basically, but that’s not something we’d recommend you do in a gaming chair, that’s for sure.

It’s made out of “heavy-duty metal frame”

The frame of this chair is made out of metal, and it includes a “premium gas rod for extra stability”. To quote the company directly, this chair has a “heavy-duty metal frame with a five-point base”. It can bear weight up to 330 lbs, which is the equivalent of 150 kg. In other words, even if you’re a somewhat heavier individual, this chair will be able to handle it.

The chair itself weighs 44 lbs, which is the equivalent of 20 kg. It measures 29 x 27 x 49 – 53 inches or 74 x 69 x 124 – 135 cm. It is made to suit all heights basically, so no matter if you’re a shorter or taller individual, it’s all good.

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The lumbar pillow should help with your posture, and it also has a massage function if you provide it with electricity. So not only does it make sure you have the right posture, but it can massage your lower back. The wheels are there if you need to move around your room/office. Costway claims that they’re really smooth in terms of operation.

Do note that Costway is offering a 30-day return guarantee, and you’re also getting a warranty with your purchase. The company is also offering 8% cashback on orders worth $300 or more, for Black Friday. If you order less than $300 worth of merchandise, you’ll get 5% cashback on your order. The listing says $0-300, which essentially means you can get a 5% cashback even if you order only one chair.

Another thing to note is that on every order over $100 that you place, you enter a draw to win a free gift. We don’t know what gifts are available, as Costway did not indicate that. In any case, you can get into running for some sort of a mysterious gift, we presume something from the Costway website.

Buy the Costway gaming chair with footrest (Costway)

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This offer is valid until December 8

This offer will be valid until December 8, by the way. You do have plenty of time to make your purchase, just don’t make sure to miss that date. Costway did mention that the stocks are limited, so… first come first serve. They could technically be sold out before December 8, of course.

For those of you who are not familiar with Costway. This is an e-commerce platform that mainly sells patio furniture, treadmills, baby and kids products, home appliances, and cooling products. You’ll find all sorts of different products on offer there, though. There really is plenty to choose from, from categories I listed and beyond that.

This deal is a part of Costway’s ‘Black Friday’ sale. If you’d like to check various other offers the company has to offer as part of that sale, you can head over to this link. Yes, Costway kicked off its Black Friday deals very early, but that gives you plenty of time to find what you’re interested in and for Costway to ship it your way.

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Apple reportedly tested a blood glucose monitoring app

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Apple reportedly tested a blood glucose monitoring app

Apple is reportedly still working on glucose management — this time through software. Bloomberg’s Mark Gurman says the company tested an app this year for pre-diabetic people, helping them manage their diet and lifestyle. Apple is said not to have plans to launch the app to consumers, but it could play a part in future health products.

The company reportedly tested the app internally, with employees confirmed through a blood test to be at risk of developing Type 2 diabetes. The subjects “actively monitored their blood sugar via various devices available on the market,” logging corresponding glucose changes. The app would then note correlations between dietary changes and blood sugar levels (for example, “don’t eat the pasta”).

Gurman says Apple paused the test to focus on other health features. Bloomberg notes that the Apple Health app currently lacks meal tracking, something rival services offer. The publication also says Apple could eventually offer deeper third-party glucose tracking integration into its products.

The study reportedly wasn’t directly related to Apple’s 15-year quest to offer non-invasive blood glucose monitoring, something that’s seemingly regurgitated in Apple Watch rumors every cycle. The company’s current hardware prototype is reportedly an iPhone-sized wearable device that uses lasers to shoot light into the skin. Gurman claims Apple’s first consumer-facing version — whether in the Apple Watch or some other form — will likely only notify users if they may be pre-diabetic. Providing specific glucose levels would have to come in later iterations.

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LinkedIn founder Reid Hoffman unveils ‘super agency’ vision at TED AI conference, takes subtle shot at Elon Musk

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LinkedIn founder Reid Hoffman unveils ‘super agency’ vision at TED AI conference, takes subtle shot at Elon Musk

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Reid Hoffman, the LinkedIn co-founder and prominent tech investor, offered an optimistic vision for artificial intelligence on Tuesday, introducing his concept of “super agency” that frames AI as a tool for human empowerment rather than replacement.

Speaking at a TED AI conference fireside chat with CNBC’s Julia Boorstin in San Francisco, Hoffman previewed themes from his upcoming book on super agency, positioning AI as the next frontier of human capability enhancement.

“If you look back at technology, it actually massively increases human agency,” Hoffman said. “Each of these major technological leaps give us superpowers.” He drew parallels between historical innovations like horses and automobiles to today’s AI systems, which he characterized as “cognitive superpowers.”

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AI election risks and regulation: Silicon Valley leader pushes back on concerns

The timing of Hoffman’s messaging appears strategic, coming amid growing anxiety about AI’s impact on jobs and democracy. While acknowledging concerns about job displacement and election misinformation, Hoffman maintained that transition challenges are manageable.

On election integrity, Hoffman downplayed immediate risks from AI-generated deepfakes in the 2024 race, though he acknowledged future concerns. “Undoubtedly, there is some use of AI crime and misinformation… but it doesn’t yet have a significant impact,” he said, suggesting technical solutions like “encryption timestamps” could help authenticate content.

Hoffman also defended California Governor Gavin Newsom’s recent veto of sweeping AI regulation, praising instead the White House’s approach of seeking voluntary commitments from tech companies before implementing specific rules. “Having essentially vague, uncertain penalties and uncertain evaluations is a very good way to quell the future development of emerging technology,” he argued.

Enterprise AI opportunities: Where startups can still compete with big tech

For enterprise leaders watching AI developments, Hoffman emphasized that despite the dominance of large tech companies in developing foundation models, opportunities remain for startups building applications on top of them. “There’s a massive amount of AI now,” he said, pointing to areas like sales, marketing, and computer security as fertile ground for innovation.

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Notably, Hoffman envisioned AI democratizing access to expertise, describing a future where everyone with a phone could access “the equivalent of a GP everywhere in the world.” This vision aligns with growing enterprise interest in AI assistants and automated customer service solutions.

Silicon Valley’s political divide: Tech leaders split on AI policy and regulation

The discussion revealed tensions in Silicon Valley’s political landscape, with Hoffman addressing what Boorstin characterized as a rightward shift among tech leaders. The conversation took a pointed turn when Hoffman appeared to criticize fellow tech leader Elon Musk’s support of Trump, without naming him directly.

When discussing tech leaders’ rightward shift, Hoffman questioned the motives of “some people who are out there campaigning and spreading pretty wild conspiracy theories… not just on x.com but in other places.”

He suggested such support might be driven by “self-interested” pursuits like “getting government contracts,” rather than genuine policy convictions. The veiled reference to Musk, who has pledged millions to Trump’s campaign and frequently posts pro-Trump content on his X platform, highlights growing divisions among Silicon Valley’s elite over the upcoming election.

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Hoffman, a prominent Democratic supporter and backer of Vice President Kamala Harris, attributed some of the broader rightward movement to “single issue voters around cryptocurrency” and business interests seeking favorable regulation. He emphasized that a “stable business environment you can invest in is much more important” than pursuing narrow interests like corporate tax cuts.

Future of work and AI’s next chapter

Hoffman’s vision suggests a fundamental shift in how we should think about AI adoption. While much of Silicon Valley frames artificial intelligence as a replacement for human work, his “super agency” concept positions it as an amplifier of human potential.

“Humans not using AI will be replaced by humans using AI,” Hoffman predicted, arguing that the real divide won’t be between humans and machines, but between those who embrace AI’s capabilities and those who don’t.

The stakes of this transition extend far beyond Silicon Valley. As AI capabilities expand, Hoffman’s optimistic vision will be tested against mounting concerns about job displacement and technological control. But his core message is clear: the future belongs not to those who resist AI, but to those who learn to harness it as a tool for human empowerment—even if that means fundamentally rethinking what it means to be human in an AI-enabled world.

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A Roundup of Innovation and Wisdom

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TechCrunch Disrupt 2024

We’d like to thank SAP for their support. Make sure to catch their Roundtable session: “Visionary Companies Embrace Innovation to Thrive in the Fast-Paced Economy” on Tuesday and Wednesday.

Speakers from The Webby Awards and Silicon Zombies will be on panels at TechCrunch Disrupt 2024 Breakout sessions, and we thank those companies for their support. Check the Disrupt app for more information about Breakout session dates and times.

For more great Disrupt content, check out these partners who will bring their wisdom to our Roundtable sessions:

WomenTech Network

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Computer Science Girlies

Vently

Aishwarya Srinivasan

Better Tech

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Take a walk through the Expo Hall and meet Stealth LLM and The Parasol Cooperative — who will also be presenting a breakout session: “Safety, Trust, and Profit: Anticipating Misuse to Build Safer Products and Attract Investment.”

We thank and appreciate Kama Capital (a Fintech Stage sponsor) and VioletX (an AI Stage sponsor).

Geek Ventures, Microsoft Startups, Fintech Americas, Comprehensive.io, and JLL have been very generous in promoting Disrupt to their audiences. 

We couldn’t do it without all of our partners, who provide more than just financial support. Their presence at Disrupt gives startups at any stage the tools, knowledge, and community they need to be a success. 

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See you at Disrupt!

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Boeing reportedly considers selling off its space business

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Boeing reportedly considers selling off its space business

Kelly Ortberg, who took over as Boeing CEO in August, is weighing the sale of the company’s space division as part of an attempt to turn things around, according to a report from The Wall Street Journal. The plans, which are reportedly at an early stage, could involve Boeing offloading the Starliner spacecraft and its projects supporting the International Space Station.

“We’re better off doing less and doing it better than doing more and not doing it well,” Ortberg said during an earnings call this week. “Clearly, our core of commercial airplanes and defense systems are going to stay with the Boeing Company for the long run. But there’s probably some things on the fringe there that we can be more efficient with or that distract us from our main goal here.”

However, sources tell the WSJ that Boeing will likely continue to oversee the Space Launch System, which will eventually help bring NASA astronauts back to the Moon. It’s also reportedly expected to hang onto its commercial and military satellite businesses.

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Look for the AI disclaimer from Google on photos that look a little too good to be true

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Google Photos AI

We’ve all been using photo filters and related tools for years to make our faces, food, and fall decor look their best. AI tools arguably manipulate photos in fundamental ways well beyond better lighting and removing red eyes.

Google Photos has several generative AI features that can alter an image, but Google will now mark on a photo that you’ve used those tools in the name of transparency.

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