After Eight months of the funding round, the Developer focussed video platform firm Mux has received another $105 Million in funding round.
Coatue led the Series D, which valued the business at more than 1 billion, Mux is not revealing the specific valuation. Accel, Andreessen Horowitz, Cobalt, and Dragoneer, a new investor, also participated. the reasoning behind this funding is Mux Company Wanted Huge Growth In the video streaming market.
We were informed by Jon Dahl, CEO, and co-founder, that Mux did not require additional funding. But after last year’s Series C, the company’s leadership kept in touch with Coatue and other investors who had expressed interest. Ultimately, they decided that more money could help speed up growth at this inflexion point in the video.
Dahl stated that we believe video is eating software in the same way that software was eating the world ten years ago, building on the thesis popularized by a16z co-founder Marc Andreessen. To put it another way, video is now everywhere, whether we’re exercising on our Pelotons or scrolling through our social media feeds. In the past, video was something we watched at our desks and on our couches.
How did India get the 100 Unicorns Profitable?
India’s 100th unicorn was Google-backed Neobank Open when it reached 1 billion in valuation. But how many unicorn businesses, some of which have already started or are planning to start, are making money? According to data from the data monitoring tool Fintrackr of the media portal Entrackr, only 18 of India’s 100 unicorns have become profitable in the current fiscal year.
Additionally, 57 unicorns are in the red. The remaining 25 businesses are primarily based in the United States or Singapore after accounting for the profitable and failing businesses. They are said not to have provided figures for their sales, losses, or profits.
How do Unicorns get a large number of employees?
According to statistics tracked by LinkedIn and incorporated into the research conducted by Entrackr, Flipkart has the greatest number of employees among the unicorns. The number of employees at these businesses may vary if we consider gig workers contractual or temporary as per the mux apibased 105m coatue 175mtechcrunch.
In 2013, a venture investor named Aileen Lee coined the term “unicorn” to describe the small number of businesses in the startup ecosystem worth more than 1 billion. A decade later, unicorns are no longer considered uncommon. India became the first nation in the world to achieve this feat when neo-banking firm Open earned 50 million last week to become the country’s 100th unicorn.
From InMobi’s first unicorn creation in 2011 to India’s century of unicorns by 2022, the Indian startup ecosystem has traveled a long and dramatic path. The country’s unparalleled rise in VC investment and tech entrepreneurship is largely attributed to the Startup India program.
How to increase revenue in the pandemic situation?
During the pandemic, demand dramatically increased, which is not surprising. On-demand streaming on the Mux platform increased 300% last year, while live video streaming increased by 3,700%, and revenue quadrupled. This, Dahl laughed, is a lot of work.
Certainly, we invested a lot of time over the past year ramping up, scaling, and developing the platform.
Mux, which has now raised a total of 175 million, will be able to continue that investment with this new funding.
Dahl stated that he intends to investigate potential acquisitions and expand the team from 80 to 200 employees. In a statement, Coatue General Partner David Schneider said, “We were impressed by Mux’s laser focus on the developer community and saw impressive customer retention and expansion indicative of the well-built value their results give.
In a report, Coatue common co-worker David Schneider said, we were amazed by Mux’s laser aim on the designer area and saw impressive client retention and growth suggestive of the well-built value their solutions supply. We are honored to partner with Mux as it paves the way for the future of hybrids. With this financing, Mux can continue building upon its customer-centric platform.
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