Equity Monday: People like Threads
Alex is back from a well-deserved vacation and ready for your Monday rundown. We're talking about Ant's new valuation, Threads' rapid growth, FrontRow shutting down, and the latest raise from Propel.
Equity · TechCrunch, Rebecca Bellan, Kirsten Korosec, Anthony Ha, Sean O'Kane, Theresa Loconsolo
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Show Notes
Here’s the rundown from this morning:
- The global stock market is looking mixed, with the leading piece of financial news dealing with inflation data in the Chinese market.
- On the crypto side of things, there are no massive price movements in key tokens to examine. That said, the NFT market has been turbulent in the last few days due to incentive changes as a key marketplace.
- An FYI: We are back in earnings season, but there’s little to report on the tech side of things this week. Expect the pace to pick up next week.
- Ant has a new valuation thanks to a choice to offer share buybacks to existing backers. It’s still worth nearly $80 billion, just a lot less than it might have been valued at back in its 2020 IPO that got scuttled.
- People like Threads: The new social service from Meta has reached the 100 million sign-up mark rapidly. More on threads here on the TC Podcast.
- In Startup-Land: FrontRow is shutting down in another blow to Indian edtech, while Propel raised $2.7 million to connect African tech talent to global employers.
And that is our show! We are back Wednesday, and Friday this week!
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Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products.
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