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Spotify cuts 17% jobs amid rising capital costs

Spotify cuts 17% jobs amid rising capital costs
PrivCo's Daily Stack ® is a daily financial newsletter, where you'll find the latest fundings and deals in the private market.
December 5, 2023

What We're Reading

  • Spotify cuts 17% jobs amid rising capital costs [TechCrunch]
  • The White House unveils new rules to try and keep China out of the US EV market [Business Insider]
  • Sam Altman's big lesson from OpenAI battle is that control matters [Business Insider]
  • Meta faces $600M competition damages claim in Spain as media owners pursue privacy breach lawsuit [TechCrunch]

Trending Companies


Paysend, a payments fintech company that offers an integrated global payment ecosystem enabling consumers and businesses to pay and send money online anywhere, anyhow in any currency, raises $65MM Equity Funding from Growth Capital.

Fintech • London, United Kingdom


BlueVoyant, an analytics-driven cybersecurity firm, raises $140MM Series E from Liberty Strategic Capital.

Cyber Security • New York, NY • Post-Money Valuation


Braincube, a firm that offers a manufacturing data software platform, raises €83MM Equity Funding from Scottish Equity Partners.

Software • Issoire, France


Castore, a firm that offers sports sportswear, raises £145MM Growth Funding from Raine Partners.

Wearables • Manchester, United Kingdom


Local Infusion, an ambulatory infusion center, raises $10MM Series A from Blisce.

Wellness • Nashville, TN • Post-Money Valuation


Revela, a firm that develops data-providing platform intended to track and manage all aspects of a portfolio for real estate companies, raises $9MM Series A from Firstmark Capital.

Project Management • Detroit, MI • Post-Money Valuation


Biolexis Therapeutics, a biotech company specializing in AI-enabled drug discovery for small molecule therapeutics targeting neurological, metabolic, and inflammatory diseases, raises $10MM Series A from Clarke Capital Partners.

Artificial Intelligence • American Fork, UT • Post-Money Valuation


Dura Software, a company specializes in acquiring and operating hyper-niche software products, raises $83MM Equity Funding from 64 investors.

SaaS • San Antonio, TX • Post-Money Valuation


SparkMeter, a firm that develops smart meters and grid management software, raises $5MM Equity Funding from Honeywell Smart Energy.

Power Grid • Washington, DC • Post-Money Valuation


Letterhead, a company that develops AI-based newsletter software, raises $5.3MM Seed from Las Olas Venture Capital.

Artificial Intelligence • Miami, FL • Post-Money Valuation



Arcfield acquires Orion Space Solutions, a firm that develops and manufactures end-to-end space mission capabilities and solutions.

Sensors • Louisville, CO • Deal


KKR acquires the remaining stake of Global Atlantic, a firm that provides life insurance variables.

Insurance • Atlanta, GA • Deal


Pella Corporation completes acquisition of Lawson Industries, a company that specializes in impact-resistant aluminum windows and doors.

Aluminum • Medley, FL • Deal


Madison Dearborn Partners acquires T2S Solutions, a company that provides systems engineering, rapid prototyping, and technological advancements for defense and intelligence missions in the United States.

Prototyping • Belcamp, MD • Deal


Seacoast Capital invests in Focus Technology Solutions, a provider of enterprise-level technology solutions specializing in cloud computation, VDI solutions, and data center services.

Cloud • Boston, MA • Deal


Star Group acquires Exhibit Edge, a company that designs, builds, and manages trade show exhibits, museum displays, environments, and experiential marketing systems that increase sales leads and company visibility.

Marketing • Chantilly, VA • Deal


Digital Mass acquires Trail Two, a provider of salesforce consulting services to businesses.

Consulting • Minneapolis, MN • Deal


E Source acquires UMS Group, a utility management consulting firm.

Consulting • Parsippany, NJ • Deal


Bestpass acquires Fleetworthy Solutions, a company that provides DOT safety and regulatory compliance services to commercial fleets.

Fleet Management • Madison, WI • Deal


Creative Planning acquires Daniels + Tansey, a company that provides financial advisory and investment management services and solutions.

Investment Management • Wilmington, DE • Deal


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