Europe's Economy Is Going Pro Start-up 📈

Patreon’s Valuation Has Tripled in Just 7 Months

The online creator-centric platform, Patreon completed another round of funding this April, raising $155 million. Tiger Global Management, the new investors, valued the company at $4 billion - a 300% rise since last year. 

The new investment comes only 7 months after the San Francisco-based company raised $90 million in September 2020 when it was valued at over $1.2 billion.

Patreon is an 8-year old online platform for artists to display their talents and receive direct funding from their fans. In the post-Covid economy when physical shows were getting cancelled due to lockdown norms, platforms such as Patreon became a haven for artists. According to Graphteron.com, Patreon's monthly payouts and individual pledges almost doubled in the last one year. The company claims that more than 30,000 creators signed up for its service in the first weeks of March 2020. 

The Singapore economy is buzzing with start-ups. So we've compiled a list of the 20 hottest start-ups in Singapore to watch out for in 2021. 

How Europe's Start-up Culture Is A Boon For The Economy

According to a recent report by Morgan Stanley, Europe’s economy shrank 7.2% in 2020 under the influence of the Covid lockdown. Keeping in line with global trends, Europe also saw deepening unemployment, bankruptcies and a massive shift in consumer habits. A lot of the industries that were earlier purely physical - education, events, groceries, etc - saw a massive slump in business. This behavioural shift was a cue for creative entrepreneurs to set up disruptive online platforms to cater to such industries.  

The same report by Morgan Stanley now predicts the European economy to rebound with a growth of over 5% in 2021. This growth, it suggests is going to be led mainly by start-ups that are more adaptive towards the changing global behaviour. The start-ups will not only pull endangered industries out of the abyss but also potentially add $2.7 trillion to Europe’s economic output by 2030.

Spain’s Pro Start-up Legislation

Spain has taken the first step towards promoting start-ups in the post-Covid economy by passing a legislation to turn the country into an ‘Entrepreneurial Nation’ by 2030. 

The Startup Act is a 10-year plan intending to simplify setting up shop in Spain as well as bringing in tax concessions and incentives for foreign investments. For this, it plans to assign a budget of approximately $6.6 billion in the next 3 years. So it will be something of a milestone.

Spain may only be one of the few countries in Europe to set up a start-up legislation, but several other European countries are already welcoming and encouraging a start-up driven economy. 

Case in Point? 

Here's a quick list of European start-ups that have received millions of dollars in funding in the last one month to revolutionise industries. 

  • Helsinki-based Bob W raised $11.8 million in seed funding to create a tech-driven “ridiculously clean” hotel alternative across Europe - with hopes to pull the hospitality industry out of its slump. The company has already seen 3 times more occupancy rates during the pandemic than other hotels on an average. 
  • The Milan-based Everli raised $101 million, Norway-based Kolonial landed $265 million, and Dutch online supermarket Crisp raised $35.7 million in funding to provide online grocery shopping facilities to consumers while adapting to the new “safe” shopping trends.
  • The Vienna-based start-up GoStudent is spearheading the European ed-tech movement in a traditionally offline market. The start-up has already raised $83.3 million to expand its e-learning platform across France, Spain, Italy, the UK, Ireland, Turkey, and Greece. 
  • French startup Vybe has raised a $2.9 million funding to build a challenger bank for teens. The company hasn't even gone live yet, but over 260,000 teens have already pre-booked their accounts with the company.

Funding is important! But should you take out a loan to run your business or look for venture capitalists? Learn about the pros and cons of both options and find the most sustainable route for your company. 
A New Social Media Site - courtesy Donald Trump

Just a few months ago, popular social media giants banned the controversial president from their platforms after violent protestors stormed the US Capitol on 6th January 2021. Fed up of the ceaseless tiffs with Facebook, Twitter, and Instagram, Trump has decided to launch his own social media site.

According to his senior advisor, the former President believes that they can attract “millions” of users with the new platform. And with good reason. There are still a lot of conservative supporters in the US irate with the social media decision to censor Trump’s MAGA (Make America Great Again) narrative. They want an app that doesn’t filter free speech, no matter how racially and sexually driven.  

Of course, there are going to be a lot of challenges with setting up a no-filter site like that, Cue, Parler. Distribution, for one, is a big question since giants like Amazon, Google, Apple, and Stripe have refused to do business with such controversial apps in the past. Nevertheless, Trump is positive that his sea of supporters will bring in some early success for the app.



Upcoming Innovations Around the Globe
China Is Creating Its Own Digital Currency: No, this is nothing like Stripe or Paypal. China is creating a digital yuan to replace paper money. The new currency will function very similar to cryptocurrency, having no physical form and being based purely on code. However, unlike Bitcoin, the digital yuan is very much traceable by the Chinese government. It will also be untethered to the USD, meaning people can have international transactions without weighing their currency against the dollar. 

LinkedIn Is Working on a Clubhouse Rival: After Facebook and Twitter, the popular professional network has confirmed that it is also testing a social audio experience in its app which would allow creators on its network to connect with their community. The decision, says LinkedIn, came after the demand for audio/video activity on the app increased by 50% in the last year. 
Managing payments can be a huge challenge, no matter the scale of the business. Try these cool alternatives to Stripe to up your online payments game.  
Here's How You Can Earn Some Great Reviews On Your Product! 
 
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