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Quick news №21

Monday, August 30, 2021

Deals, bans, rounds... Read an overview of venture market events over the past week.

Startup Jedi

We talk to startups and investors, you get the value.

Last quick news this summer! We run into autumn along with the latest events in the venture market. Deals, bans, rounds, and a cryptocurrency ATM are practically a cinematic action movie. Just more numbers. Go!

Let's start with a truly cinematic situation: Wiz specialists discovered vulnerabilities in the Microsoft Azure cloud service. For a minute, giants like Coca-Cola and Exxon Mobile use it, and it was used to host the 2014 Sochi Olympics. “Thanks” to the vulnerability, it was possible to gain access to the database of global client companies, and, in theory, also change this data. The problem was fixed within two days, Wiz promised to reward, but how long the problem existed before it was discovered is an open question.

But what question is being closed is the conduct of an IPO for Chinese companies. Sources say that in the fourth quarter of this year, the country's government is preparing to impose a ban on listing. The restrictions will affect companies that work with user data in large volumes, because this, according to lawmakers, is a matter of national security.

Meanwhile, the global market continues to live and produce news about the rounds. Hovhannes Avoyan's Picsart startup, which develops photo-editing applications, reached unicorn status in a new $130M round led by Vision Fund 2 SoftBank. Today the service has 150 million monthly active users and is represented in 180 countries.

It has long been a unicorn, but with global plans: Discord intends to raise more than in all previous rounds —  $500M at an estimate of $15B. A messenger with video conferencing functions will hold this round according to sources under the leadership of the investment company Dragoneer.

It was a good week for projects with Russian founders. Infusion Games, a game development studio, raised $2.5M in funding from another mobile game developer with Russian roots, Green Gray holding. And testRigor, a “smart” QA test service, raised $4M in a seed round. It can be used to create end-to-end testing with emulation of the user environment in 15 minutes versus the usual 10 hours. The company's clients already include Netflix and IDT Corp.

We conclude the digest at a curious and important event: the first ATMs were installed in El Salvador, through which you can convert bitcoin into cash. So far, El Salvador is the only country that recognizes cryptocurrency as a full-fledged means of payment. For other ways to spend cue ball and more —  in our article on crypt.

Have a productive week!

30 Aug 2021


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