Get the latest tech news
Leaked documents show Techstars lost $7 million in 2023 but still had plenty of cash
Cuts to Techstars’ staff and its decision to shutter certain accelerators came after it missed its 2023 revenue goals, according to documents outlining
Cuts to Techstars’ staff and its decision to shutter certain accelerators came after it missed its 2023 revenue goals, according to documents outlining its preliminary 2023 results viewed by TechCrunch. Techstars also lost millions of dollars more by year’s end (in adjusted EBITA) than it had anticipated it would, additional documents that discussed mid-year performance outlined. Its actual result, a year-end balance of $48.7 million, means that the company started the year with more cash than had it originally planned, even if the final figure was under its mid-year expectations.
Or read this on TechCrunch