đź“Š Slow recovery of the venture funding in Europe
European venture funding reached $45B in 2024, a slight drop from last year but showing signs of stabilization. Despite growth in AI investments, overall funding remains low, with fewer exits and rising debt.
While Europe’s tech scene is expanding, it’s still trailing behind the U.S. in terms of funding and valuations.
đź“Š Slow recovery of the venture funding in Europe
European venture funding reached $45B in 2024, a slight drop from last year but showing signs of stabilization. Despite growth in AI investments, overall funding remains low, with fewer exits and rising debt.
While Europe’s tech scene is expanding, it’s still trailing behind the U.S. in terms of funding and valuations.
Telegram was co-founded by Pavel and Nikolai Durov, the brothers who had previously created VKontakte. VK is Russia’s equivalent of Facebook, a social network used for public and private messaging, audio and video sharing as well as online gaming. In January, SimpleWeb reported that VK was Russia’s fourth most-visited website, after Yandex, YouTube and Google’s Russian-language homepage. In 2016, Forbes’ Michael Solomon described Pavel Durov (pictured, below) as the “Mark Zuckerberg of Russia.” However, the perpetrators of such frauds are now adopting new methods and technologies to defraud the investors. The S&P 500 fell 1.3% to 4,204.36, and the Dow Jones Industrial Average was down 0.7% to 32,943.33. The Dow posted a fifth straight weekly loss — its longest losing streak since 2019. The Nasdaq Composite tumbled 2.2% to 12,843.81. Though all three indexes opened in the green, stocks took a turn after a new report showed U.S. consumer sentiment deteriorated more than expected in early March as consumers' inflation expectations soared to the highest since 1981. Russian President Vladimir Putin launched Russia's invasion of Ukraine in the early-morning hours of February 24, targeting several key cities with military strikes. On December 23rd, 2020, Pavel Durov posted to his channel that the company would need to start generating revenue. In early 2021, he added that any advertising on the platform would not use user data for targeting, and that it would be focused on “large one-to-many channels.” He pledged that ads would be “non-intrusive” and that most users would simply not notice any change.
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