The global companies taking on Carta | Equity Podcast

08 Mar 2024 (9 months ago)

Muse: Hotel SAS Startup

Muse, an Amsterdam-based hotel SAS startup, raised $110 million at a $1.2 billion valuation, becoming a new unicorn.
Muse offers software tools for hotels to streamline check-in, payments, and guest room service bookings.
The company experienced significant growth, with its gross payment volume increasing from $2.3 billion in 2022 to $8 billion.
Muse plans to expand beyond the hotel sector into commercial properties, Airbnbs, and other accommodations.
Muse has made eight acquisitions in the hotel tech space to date.

Quota Lab, a South Korean cap table management software company, is doing well in its domestic market but faces challenges in expanding to other regions.
Formed through the merger of Quota Book and Logos Systems, Quota Lab has a 40% market share on the startup side, 80% market share on the VC side, and claims to be the sole player on the LP side in Korea.
Quota Lab's potential revenue is limited by the size of the South Korean venture capital market compared to the US market.

Deal, an HR Decacorn, acquired PaySpace, a large HR player in Africa, Brazil, and the UK, to expand its global reach and acquire more enterprise customers.
Deal's acquisition strategy involves a mix of cash and stock, depending on the preference of the acquired company.
Deal is a potential candidate for the public markets but is not considering an IPO until 2025 or 2026.

Africa-based companies are gaining attention, with several acquisitions in the past 18 months.
Remo first, a global HR tech company, raised $25 million and aims to compete with Deel and Rippling by offering affordable pricing, serving larger customers, and partnering with legal experts.
Despite focusing on SMBs, Remo first plans to expand into the enterprise market.
Gusto, another HR tech company, reached the half-billion recurring revenue mark last year.
RemotePass, based in the UAE, raised $5.5 million, and Remote and Ingred are also players in the HR tech space.

Sam Blonde, former CRO of Brex, stepped down from his role as a VC at Founders Fund after only 18 months, citing that full-time investing as a VC isn't the right fit for him.
There's a trend of VCs growing disenchanted with the profession due to the shift from an exciting boom to a more conservative and challenging investment climate.
Miles Grimshaw announced his departure from Benchmark after 3 years to rejoin Thrive Capital, founded by Joshua Kushner.
Venture capital firms can vary greatly in their approach and ethos.
Benchmark is an example of an old-school VC firm with a focus on privacy and a lack of public presence.
Thrive, on the other hand, is a newer firm known for being public, loud, and rapidly growing.
Miles leaving Benchmark to join Thrive could be due to cultural differences and a desire for a different type of investment firm.
The venture capital industry is experiencing a period of change, with more firms hiring and expanding.
The trend of venture capital musical chairs is expected to continue in 2024.

Maryann will be releasing an interview with Roger Lee, co-founder, angel investor, and creator of layoffs.fyi, discussing his investment in Sunset, a startup that helps other startups shut down.
The conversation will cover the reasons behind Lee's investment, the connection to his work at layoffs.fyi, and the increase in startup shutdowns and layoffs in 2023.