The past week delivered a whirlwind of major developments across the tech and business landscape, showcasing both the explosive growth of AI, significant shifts in traditional sectors, and billion-dollar valuations.
From a conversational AI chatbot elbowing its way into the internet’s top tier to significant media cutbacks and eye-popping potential acquisitions, here’s a breakdown of the defining moments you need to know.
ChatGPT Becomes an Internet Behemoth
In a stunning demonstration of AI’s rapid mainstream adoption, OpenAI’s ChatGPT has officially entered the pantheon of the world’s most visited websites.
Surpassing giants like TikTok, Amazon, and Wikipedia, the AI chatbot now ranks as the 5th most visited site globally.
With over 5.1 billion visits recorded in April alone, its usage is exploding, even among free users.
This surge signifies that AI is no longer a niche tool but a fundamental utility competing directly with the core platforms shaping online behavior.
TechCrunch Europe’s Quiet Departure
On a less optimistic note for media and the European startup ecosystem, TechCrunch Europe appears to have significantly scaled back, if not effectively shuttered, its dedicated European editorial team.
While no official announcement has been made, the departure of long-time, respected journalists like Mike Butcher and Ingrid Lunden signals a major shift.
Reportedly a fallout from the recent Yahoo sale, this move removes a vital, global voice dedicated to covering the continent’s burgeoning tech scene.
OnlyFans Explores $8 Billion Sale
The wildly successful, bootstrapped creator platform OnlyFans is reportedly exploring a sale that could value the company at a staggering $8 billion.
The platform’s founder is said to be seeking an exit after OnlyFans generated an incredible $6.6 billion in revenue last year, all achieved without taking any venture capital or outside investment.
Talks are already underway, with LA-based Forest Road leading the charge, potentially marking one of the largest bootstrapped exits in recent history.
Klarna Achieves $1 Million Revenue Per Employee, Shifts Support Model
Fintech giant Klarna is demonstrating remarkable efficiency gains, reporting a 152 percent jump in revenue per employee, now standing at an impressive $1 million per head.
This significant increase is largely attributed to the widespread implementation of automation and AI across its operations.
Interestingly, while automation has boosted efficiency, the company has brought back human support interactions, albeit shifting away from in-house teams towards utilizing part-timers and students.
Hinge Health Navigates IPO in Tough Market
Digital health company Hinge Health successfully made its public debut last week with an Initial Public Offering (IPO) that valued the company at $3 billion.
Despite this valuation being half of its peak private valuation in 2021, the IPO is considered a solid debut in the current challenging market environment.
The company raised a total of $437 million through the offering, closing its first day of trading up a healthy 17 percent.
Duolingo’s Social Media Wipeout and Comeback
Language learning app Duolingo faced significant backlash after announcing its decision to replace freelance translators with automation.
The response was so severe that the company abruptly wiped its entire social media presence on platforms like TikTok and Instagram overnight.
This was followed by a rather unusual comeback video.
Meanwhile, despite the public relations hiccup, the company’s core business continues to boom.
Funding Rounds Highlight Health and Pet Care
The funding landscape saw significant activity in specific sectors:
- Repronovo Secures $65M for Reproductive Health: The Swiss biotech startup raised $65 million to advance its work on infertility and uterine disease treatments. Backed by notable investors including AXA, Jeito, and Merck’s VC arm, the company already has two drugs in promising Phase 2 trials.
- Butternut Box Raises €75M for European Pet Food Expansion: The fresh pet meal delivery service Butternut Box secured €75 million to fuel its expansion across Europe. With over €450 million raised to date, the new capital will support the opening of a second production site in Poland and help grow its footprint in the burgeoning European pet care market.
This past week underscores a period of dynamic change, illustrating AI’s transformative power, the high stakes in the M&A world, strategic shifts in business operations, and targeted investment in growing market segments like digital health and premium pet care.
Keep an eye on these trends as they continue to shape the future of tech and business.
