Good news, crypto founders! Venture capital activity is picking up in the space, recovering from multi-year lows that fell in late 2023. In other words, the VC crowd seems more bullish on Web3 than they were in the recent past.
But that's not the only news we're digging into in Equity this morning: Akamai is acquiring API security company Noname for $450 million. TechCrunch previously reported that the deal would be worth around $500 million. Still, $450 million is a lot of money, and considering Noname was valued at over $1 billion in 2021, the deal is worth considering.
Speaking of M&A, Wiz, another potential cybersecurity acquirer, recently raised $1 billion. The company plans to acquire both distressed unicorns and hot smaller startups to bolster its operations. The company is currently valued at $12 billion, which is a pretty penny. (Wayve has also raised over $1 billion, but is focused on autonomous driving, not security.)
And Monzo raised an additional $190 million, bringing its fundraising for the year to more than $600 million, while TikTok is battling a possible ban in the US and Oyo is seeking to raise new capital at a fraction of its previous valuation.
lastly, Haje Pitch Deck Teardown is coming to Equity! If you haven't read the series yet (start here), be sure to check it out. The first in the new segment is NOQX Deck: What went well, what didn't go well, and what's next!
Chat on Friday!
Equity is TechCrunch's flagship podcast, produced by Theresa Loconsolo and posted every Monday, Wednesday, and Friday. Subscribe on Apple Podcasts, Overcast, Spotify and allcasts.
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