Author: TechBrunch

Polygon Labs, the team focused on building the layer-2 blockchain Polygon, has laid off 60 employees, representing about 19% of its staff, according to a post published Thursday by CEO Marc Boisron. That's what it means. Polygon Chain is one of the largest layer 2 blockchains focused on scaling Ethereum. According to the company's website, it has facilitated more than 2.44 billion transactions, deployed more than 1.17 million smart contracts, and generated $12.8 billion in revenue. Polygon Labs is an organization that helps build blockchain ecosystems. Boisron said the team's growth during the last crypto bull market has “diminished” the…

US access and identity management giant Okta has announced that it will lay off approximately 400 employees, representing 7% of its global workforce. The layoffs come almost exactly one year after Okta announced plans to cut its workforce by 5%, or about 300 jobs. In an email sent to employees that Okta shared with TechCrunch, Okta CEO Todd McKinnon said the decision was necessary for the San Francisco-based organization to grow profitably. He said it was. His Okta, which has more than 18,000 customers, announced better-than-expected quarterly profits in November, with sales up 21% to $584 million. “While we have…

Several Over the past few years, the biggest technological innovations have occurred separately across the artificial intelligence and blockchain industries. And while the two sectors are reaching different levels of mainstream adoption, they also face challenges that the other sector could help alleviate, according to a new report shared exclusively with TechCrunch+ by TenSquared Capital (10SQ). It is said that it is facing. Whether the industry realizes it or not, 10SQ founder Stan Miroshnik said, “I think AI needs blockchain more than the other way around.” The AI ​​sector needs more secure data sharing and decentralized marketplaces for its models…

most In its most recent quarter, Microsoft reported revenue worth $62 billion, operating income worth $27 billion, and net income worth $21.9 billion. It also recently cut 1,900 jobs. Alphabet reported revenues of $86.3 billion, operating income of $23.7 billion, net income of $20.7 billion, and a decrease in employee count of nearly 8,000 compared to the same period last year. On the one hand, two of the most well-known companies in the tech industry have just delivered operating profits at or near an annual run rate of $100 billion. On the other hand, both companies have recently been working…

Ripple's co-founder and executive chairman revealed on Tuesday that hackers stole approximately $112 million in Ripple-specific cryptocurrency XRP from a cryptocurrency wallet. Ripple's Chris Larsen said on Wednesday that the stolen cryptocurrency belonged to him.Larsen I wrote to X (Formerly Twitter) “Several of my personal XRP accounts (not Ripple) have had unauthorized access. We quickly discovered the issue and notified the exchange to freeze the affected addresses. Law enforcement is already involved. ” Larsen wrote the post less than an hour after prominent cryptocurrency security researcher ZachXBT announced the news of the hack. inquiry Do you have more information about…

Solana, Polygon, Optimism and other blockchains are also gaining developer interest global web 3 Developer space to expand in 2023 despite continuing crypto market bear market and regulatory headwinds in the US, according to new report This was especially a home run for Ethereum, one of the most famous layer 1 blockchains. According to his 2023 Web3 Development Report on Alchemy, the number of blockchain software developer kit (SDK) installations has increased from 81.4 million downloads in 2022 to 106.4 million downloads in 2023. million downloads, an increase of 31% from the previous year. According to the report, the total…

Last week's SXSW The 45 finalists for the pitch contest to be held in March have been announced. This list was as expected in many ways. There were quite a few AI startups and a number of California-based companies. However, it wasn't 100% business as usual. This list had a much more diverse group of founders pitching than the average VC portfolio. While it has certainly never been a completely diverse group, the number of women and founders of color is notable enough to be notable. This is not a one-time event either. Many pitch competitions, both large and small,…

Long time no see It's been a year since Salesforce helped transform the technology world by claiming to be the end of software. That model of selling access to managed services hosted on the cloud (what we commonly refer to today as software-as-a-service (SaaS)) didn't end software, of course. , took the world away from purchasing software. box. The trade-off was easy. Software offered as a service has a lower initial cost, but can become more expensive over time. In return, the vendor promised regular updates and there would never be an out-of-date version. Regardless of how you feel about…

collapse of the amazon The proposed deal to acquire iRobot highlights just how important this year's IPO market is. A key outlet for startups could be closed in the short term as the government tightens its grip on Big Tech companies trying to buy smaller companies. Exchange explores startups, markets, and money. Read it every morning on TechCrunch+ or get The Exchange newsletter every Saturday. If mergers and acquisitions become more difficult, especially for Big Tech companies that prefer to buy new technology rather than build it, unicorns and other late-stage startups will have less liquidity available than going public.…

it's a story All the time: A startup founder raises a lot of sweet money from VCs. Next, you must look for product-market fit. It's easy? Just put all that money into sales and marketing and they're off to the races. It's not that fast. Anyone can draw an upward growth curve by investing enough money in advertising. But the important thing is right It's a way to grow, but it's very difficult. Matt Lerner spent 11 years in marketing at PayPal, then four years at 500 startups, so he's seen companies of all sizes struggle to find customers. In…