Venture capital investing may have been down this year, but these companies still saw valuation growth.
As of this writing, its video-editing app CapCut and content sharing app Lemon8 are also #1 and #2 in their respective categories on the Apple app store. But the company has bigger concerns than whether it can continue to churn out hit apps. In April 2024, the “TikTok Ban” was signed into law, which will force Bytedance into a sale of the video-sharing platform by January 2025 or face a ban.
It’s worth noting that, like Bytedance, Airbnb’s success has drawn increasing scrutiny from regulators and political figures around the globe with states, cities and municipalities looking to restrict, tax or outright ban short-term rentals. In 2023, Airbnb responded by ramping up its federal and local lobbying efforts, including recruiting a former Press Secretary for President Obama as Global Head of Policy and Communications.
The company also boasts advances in AI, claiming that its proprietary large language model surpassed the capabilities of OpenAI’s ChatGPT 3.5 in March.Hurst Lin | DCM | #328. Stripe