A Farewell, And A New Beginning| Alchemy's $10.2 Billion Valuation As Web3 Fever Rages

Plus: Hollowed-Out Books, Fake Passports And Burner Phones: What Led To The Feds’ Raid On The Crypto Couple

In August 2020, Forbes Under 30 alums Nikil Viswanathan and Joe Lau made a big bet. The cofounders of Down to Lunch had found fast success in their meetup app that rocketed to No. 1 in the Apple App Store, but they had a hunch that building tech tools to help startups build blockchain would be an even better business. Less than two years after the launch, their hunch is worth $10.2 billion. Earlier this week, their company Alchemy, whose developer suite powers the hottest Web3 companies (decentralized, blockchain-based computing) from OpenSea to Adobe and thousands of others, announced that it raised a $200 million round.

Meeting visionary founders like these has been the highlight of my past six years at Forbes. As the editor of the Forbes Under 30 list, I’ve had the privilege of identifying and elevating the stories of so many inspiring individuals. But all good things must come to an end: Today is my final day at Forbes, and this is the final newsletter edition you’ll be receiving from me (Alexandra Sternlicht will be taking over from here).

My next stop is fitting. I’ll be joining Forbes Under 30 alum Eric Tarczynski’s Contrary Capital, where I’ll keep helping young companies grow. I’ll be joining the firm to lead Startup Search, a new enterprise building a community that connects top talent with top startups. This will be a continuation of my work at Forbes, where I’ve developed a passion for helping founders grow, and I’m looking forward to continuing to help them as the competition for top talent continues to heat up. If you want to follow along or keep in touch, you can always find me on Twitter.

This Week's Money Moves

Seattle-based Mystery has landed a $100 million valuation after raising $18.5 million in a Greylock-led round. Founded in 2018, Mystery started as an event automation tool for consumers, matching couples to experiences based on their shared interests.

Camila Cabello has become the latest celebrity to moonlight as an investor. She joined the ranks of the celebrity investor set with Olipop’s $30 million Series B round of fundraising announced earlier this month.

Forbes Under 30 alum Salt Security announced a $140 million Series D round on Thursday, led by Capital G, the investment arm of Google. The fresh funds have minted the company as a unicorn worth $1.4 billion.

Location-data startup Radar has raised $55 million to help businesses build out geofencing. As consumers and regulators become more skeptical of how companies collect user data, the Brooklyn-based company is working with brands to make location information more useful.

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