Match Group’s deal with OpenAI is just business with AI glitter on top

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Hello, and welcome to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines.

This week, Mary Ann, Kirsten and Alex gathered to chat through a massive sheaf of news. A note before we get to the rundown:  Reddit filed to go public after we had recorded this episode, so we didn’t get to talk about its IPO in this episode. We’ll definitely discuss its S-1 filing in due time so make sure to tune in again!

Here’s the rundown:

Deals of the Week: PermitFlow raised $31 million to bring software to the construction permitting market; one man’s plan to keep Cake ebikes alive for a while longer caught our eye; and we had thoughts about Match Group’s tie-up with OpenAI. Fintech drama: With Reddit’s IPO in the hopper, people are already drawing up lists of other companies expected to go public this year. One such company is Klarna, which is currently the latest generator of governance drama. Former Sequoia leader Michael Moritz won this round, unsurprisingly. Video game startups could prove 2024’s surprise winners: While the venture market retreats and funding to gaming startups slows, there’s good reason to expect fortunes to turn around for the startup niche. While venture wallets might open for gaming companies this year, some companies like Frost Giant are turning to their own community to raise.

More to come soon!

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