Welcome back to another transcribed edition of Equity, the wildly
popular TechCrunch podcast that digs deep into the week’s news
about … equity.
There were no IPOs this week so there was only one episode, but
it was jam-packed with news about direct-to-consumer scooters,
luggage funding and fake meat. This is where tech has taken us this
Oh, and Slack set the date for its direct listing.
Kate: So [Away] raised a 100 million, series D.
This round was led by Wellington Management, so not by a
traditional venture capital firm. Though Away is backed by big name
faces like Forerunner Ventures, which is responsible for
investments in pretty much direct to consumer companies. So this
valued Away at 1.4 billion, and that’s obviously quite large, but
what’s particularly surprising about that valuation is that Away
was valued at just 400 million the last time they raised money,
which was a series C of 50 million, maybe about 1 or 2 years
Alex: Oh gosh.
Kate: I’m not sure exactly when that was. But
we’re seeing a major, major, major uptick in its valuation. And
the reason why is because at its series C, Away was profitable
already. Like I was telling Alex, they didn’t say anything about
profitability this time, so I don’t know where that stands, but I
do know they have $150 million in revenue.
Alex: Yearly revenue.
Kate: Yes. They are growing top line at 100%.
They have an NPS score in the 80’s, and they have a bunch of new
investors in this round that I think kind of shows that they’re
going well. And also, they want to use this capital to create a
generic travel brand. So they want to be more than just these
Instagram-friendly cute luggage, suitcases, carry-ons, whatever
they want to be. Kind of provide anything and everything you might
need when you’re going on a trip of any kind.
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Kate Clark: Hello, and welcome back to Equity.
I am TechCrunch’s Kate Clark. This week, I am in the studio with
Alex Wilhelm of Crunchbase News. Hello Alex, how are you doing
Alex Wilhelm: I am good, but as we were just
saying before we hit record, this is in some ways a bittersweet
moment for us in this room, because it is the last time that the
three of us, you, myself, and our excellent producer Christopher
Gates, will be together in the TC podcast studio at 410
Kate: It is indeed a bittersweet moment for all
Source: FS – All Tech News 2
Equity transcribed: Away’s .4B valuation and CrowdStrike’s S-1