Hi there, 

Amid all the doom and gloom, early-stage valuations have held up well. 

In fact, seed/angel-stage valuations actually went up in 2022 vs. 2021.

While Series A to D+ have all declined, investors are still willing to make aggressive bets on great early-stage tech companies.

Interesting note: There are fewer deals being done, so there is certainly a “flight to quality” happening here.  

Add in the fact that a lot of wantrepreneurs are likely not starting companies right now, making for a better crop of startups since the tourists stopped coming.

Get all the tech valuations data here.

Checkmate

What do Airbnb, ADP, and Disney have in common?

They’ve built business moats — the key competitive advantages (like network effects and IP) that set them apart.

Learn how the world’s biggest companies have built and defended their moats in this free report.

Can ChatGPT do this?

We’re digging into the future of generative AI. 

CB Insights analysts will discuss the impact of generative AI across sectors, its limitations, and the trends you need to watch in our live briefing on March 7.

Get your questions ready and save your spot here.

Walmart’s tech strategy

Walmart is a brick-and-mortar commerce giant, with 10,000+ stores globally. 

Now, it’s positioning itself as a tech provider. 

The company is building high-margin, high-growth-rate tech businesses for the retail industry like: 

• Walmart Connect (retail media network)

• Walmart Fulfillment Services (e-commerce fulfillment)

• Walmart GoLocal (last-mile delivery)

The pivot could help it command a higher valuation than traditional grocery retail.

Pass the Mic

Bringing down emissions is becoming a priority for enterprises. 

For Microsoft, this represents a business opportunity.

Clients can dig into the company’s strategy to establish a foothold in the climate tech space and reach its carbon-negative goal in this brief.

TechCrunch. Anna Heim (@abracarioca) talks dry powder using CB Insights research.

Matt Turck. Matt Turck (@mattturck) uses CB Insights data to map the machine learning, AI, and data landscape.

Barron’s. Michele Lerner (@mvlerner) discusses angel investing and mentions CB Insights data.
 

I love you.

Anand

@asanwal

P.S. Yesterday’s new newsletter format was a hit. Thanks to those who provided feedback to make it better. More hot or not coming your way.

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