TechCrunch Roundup: AI Ads, Snap's Revenue Growth, and Funding for Deep Tech
Several tech companies made headlines this week, ranging from AI advertising strategies to financial updates and funding rounds. Alphabet remained tight-lipped about its AI deal with Apple, while Snap reported revenue growth despite a decrease in daily users. Meanwhile, Mundi Ventures closed a significant fund for deep tech and climate startups, and Stripe alumni secured funding for a business identity verification startup.
Alphabet declined to comment on its AI partnership with Apple during its fourth-quarter earnings call on Wednesday, leaving investors in the dark about the potential impact on its core business. According to TechCrunch, the analyst's question regarding AI partnerships, specifically the one with Apple to power AI for Siri, was completely ignored. The relationship between Google and Apple has historically been mutually beneficial, with Google paying Apple $20 billion to be the default search engine on Apple devices, according to filings from the Department of Justice's lawsuit against the search giant.
In other news, Anthropic's Super Bowl commercial, one of four ads the AI lab released on Wednesday, featured a satirical take on AI advertising. The commercial begins with the word "BETRAYAL" splashed across the screen and depicts a chatbot offering questionable advice, ultimately leading to an ad for a fictitious cougar-dating site called Golden Encounters. Anthropic emphasized that while ads are coming to AI, they would not be integrated into its own chatbot, Claude.
Snap reported revenue growth in its latest quarterly earnings report, but also a decrease in daily users. In Q4, Snap's revenue reached $1.7 billion, a 10% year-over-year increase. Average revenue per user also saw a slight increase, rising from $3.44 to $3.62. The company's net income was $45 million, up from $9 million the previous year. Snap's paid subscription service, Snap, continued to generate significant revenue, with subscribers growing 71% year-over-year, reaching 2.4 million. Snap is aiming to diversify its revenue sources, moving from a business model primarily reliant on ad revenue to one that includes subscriptions and hardware.
Mundi Ventures closed on €750 million for Kembara Fund I, its largest deep tech and climate fund to date. The fund secured a €350 million commitment from the European Investment Fund under the European Tech Champions Initiative in 2024. Regulatory filings from Spain indicated that the fund, focused on deep tech, could potentially reach a final closing of €1.25 billion. Kembara co-founder and general partner Yann de Vries noted that raising €750 million in two years as a first fund in the current environment was challenging.
Finally, Duna, a business identity verification startup founded by Stripe alumni Duco van Lanschot and David Schreiber, raised a €30 million Series A round. The funding round was led by Alphabet's growth fund CapitalG, which also backed Stripe since co-leading its Series D in 2016. Duna, based in Germany and the Netherlands, counts Plaid among its customers and helps fintech companies with business identity verification. The company is now the best-funded European member of the so-called "Stripe mafia," a term referring to the numerous startups founded by former Stripe employees.
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