![]() In September, Lightspeed closed a $35 million investment round led by iNovia Capital. On June 18, 2014, the company added Advanced Analytics to Lightspeed Retail's feature roster. At the time, the company had more than 15,000 store locations. Lightspeed's customers processed $7.5 billion in 2013. It acquired MerchantOS, point-of-sale software developer, and Lightspeed Retail, an HTML5 web-based product that can be used from any computer in 2013. Īccel Partners led a $30 million investment round in 2012 and from 2012 to 2013, the company observed a 120% growth in annual transactions. Profit has ranked Lightspeed 24th in 2011 and 61st in 2012 on its list of "Canada's 200 fastest growing companies". The company is backed by iNovia Capital and Accel Partners. It has its offices in Montreal, New York, Ottawa, Toronto, London, Paris, Belfast, Amsterdam, Berlin, Geneva, Ghent and Melbourne. In 2014, it expanded its customer base to include the hospitality industry. Lightspeed was founded by Dax da Silva in 2005, with its headquarters in Montreal, to provide point-of-sale and e-commerce software to retail businesses. ![]() It offers its services to retail, restaurant, and hospitality businesses. It has offices in Montreal, New York, Ottawa, Toronto, London, Belfast, Amsterdam, Berlin, Geneva, Ghent and Melbourne. It was founded in 2005 by Dax da Silva who served as the CEO of the company until February 2, 2022. Indian outlet Entrackr previously reported some of the funding details.Lightspeed Commerce is a point-of-sale and e-commerce software provider based in Montreal, Quebec, Canada. Pocket FM and Lightspeed declined to comment Tuesday evening. On average, listeners spend over 110 minutes daily on the platform, according to another person familiar with the matter. Since early 2022, the platform has employed a micro-transaction model, enabling users to purchase coins in local currency to redeem for episodes beyond the free quota. This approach has allowed the startup to offer free access to episodes every 24 hours, with a fee for additional content. ![]() Pocket FM - which also counts Tencent and Times Internet as backers and has raised about $93 million to date, according to venture insight platform Tracxn - operates on a freemium model, leveraging long-form episodic storytelling to give users the choice to pay only for content they prefer rather than the entire library. The startup's expansion into the U.S., and offering customers a non-subscription, pay-as-you-go offering has proven especially successful, according to one of the sources. Pocket FM had publicly set a goal of reaching an ARR of $100 million by 2023-end. Its current ARR is over $160 million, two of the sources said, a six-to-seven times increase over a year ago. The funding deliberations follow a fast-paced revenue growth at the Indian startup, which offers serialized fiction and non-fiction content spanning genres like romance, self-help and motivation. The current deliberations value the startup at nearly $800 million, two of the sources said. The investment giant is evaluating financing the round from both its India and U.S. Lightspeed, an existing investor in Pocket FM, is in late stages of talks to lead the funding round into the Indian startup, the sources said, requesting anonymity as the matter is private. Audio entertainment startup Pocket FM has topped $160 million in annualized revenue runrate and is inching closer to raising over $80 million in a new funding round, three sources familiar with the matter told TechCrunch. ![]()
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