Startup News: Virgin Galactic, DoorDash, Crocs, and others` achievements

Pokemon Go raised $300 million

Niantic has gained investments from a hedge fund Coatue. The company is planning to allocate the money for developing already released games, creating new apps, expanding the platform, and building a metaverse based on the 3D world map.

In 2016, Niantic launched an AR-based game — Pokémon Go. Undoubtedly, the project made a go-off: the revenue for the game exceeded $5 billion, and the overall of downloads — 630 million.

Currently, the company has been working on another AR app — Indgress. In January 2022, it is projected to finish Harry Potter: Wizards Unite.

2 years ago, Niantic’s valuation amounted to $4 billion. Today it has reached $9 billion.

In October 2021, the company launched a platform for Lightship developers. It provides tools for creating and releasing AR-based apps. In the meantime, Niantic announced a new fund for AR startups.

Chipper Cash became a unicorn

Chipper Cash is an African startup providing transboundary payments. The company was founded by Ham Serunjogi with a view to creating an international p2p payment system. After its founding in 2018, it already operates in Ghana, Uganda, Nigeria, Tanzania, South Africa, Rwanda, and Kenia.

The startup aims to solve the problem of the money movement in Africa. Sending money to sub-Saharan Africa costs very much considering it is the most expensive region to send money globally.

Chipper Cash offers reasonable prices and streamlines transactions from Africa to the USA. Serunjogi claims that the remittances they provide are substantially cheaper than anyone else.

Chipper Cash raised $150 million investments in its C round. The investment leader was FTX — a cryptocurrency platform. Its total funding is amounted to over $305 million. The startup valuation amounted to $2 billion.

In 2021, the company started to expand beyond Africa. In May, it began to operate in the UK enabling people to send money from Europe to Chipper Cash’s African markets.

Crocs capitalization exceeded $10 billion

Since the beginning of 2020, stock prices have soared by 480%. After World Health Organization had announced the pandemic, their growth rate reached 1,000%.

The main company’s product — foam shoes originally meant to be worn at the beach. However, over the last few years, fashion changed: people have started to wear Crocs’ products every day, as it’s comfortable and trendy.

The pandemic considerably drove the company’s growth. First of all, med workers began to use crocs, since they needed comfortable and practical shoes.

Since the 3-d quarter of 2021, Crocs’ sales have doubled, reaching $626 million. By the end of the year, the company is intended to increase the revenue up to $2,2 billion.

Crocs relinquished its own production and started to actively develop online sales. By the end of 2019, the company first demonstrated the growth rates raised by 13%. Its income in 2019 was $120 million, in 2020 — $313 million.

DoorDash acquired Wolt for $8,1 billion

DoorDash is an American tech startup that allows local businesses to meet customers’ needs. The platform provides thousands of restaurants, different kinds of stores, and other facilities you need. Its aim — to empower local economies.

The startup expands by means of purchasing large local services. Particularly, players with international ambitions attract the company’s attention.

Wolt — its sixth acquisition. This is one of the ambitions Finnish delivery services. The company has over 4,000 employees across 23 countries. Its platform helps users easily discover and receive food by selecting a restaurant, placing the order, and hitting send.

In November 2021, DashDoor made an all-stock deal valued at $8.1 billion. For DoorDash the deal is the way to enter new markets and strengthen its positions. The company has become a savior during the pandemic, though it remains loss-making. DoorDash’s capitalization — $65 billion.

Virgin Galactic planning 3 space flights a month

This is an American spaceflight company founded in 2004. Virgin Galactic is the first commercial spaceline. The company develops spacecraft for human travel and tourism. Additionally, it is working on a flight program to enable customers to experience space traveling.

Virgin Galactic is intended to complete 3 flights a month in order to increase commercial spaceflights and develop space tourism.

After modernizing the plane and building a new spaceship, the company is going to offer at least 3 spaceflights per month.

Its valuation amounts to $7 billion. According to the company’s assumptions, by 2023 it will ferry over 1,500 passengers a year on flights providing a few minutes of weightlessness. Considering the ticket cost of $350,000, that’s just under $600 million in revenue.