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Stephanie Turner
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8 months ago
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Google Cloud quarterly revenue was a record $11.35 billion
- Alphabet's revenue was up 15% to $88.27 billion
- Google Cloud revenue was a record $11.35 bln (+35%)
- This growth was helped by AI services, corp. subscriptions, etc.
- Different AI services are used by billions of users
- Alphabet reported net income of $26.3 billion (EPS $2.12)
- The search business grew 12.3% to $49.4 billion
- It remains the main source of revenue for the company
- Alphabet's advertising revenue for the quarter was $65.85 billion
- Its advertising business is growing but slowed from Q2 2024
- YouTube's ad revenue for Q3 2024 was $8.82 billion
- YouTube's ad revenue was above analysts' expectations
- Google Workspace saw strong growth for Q3 2024
- Other Bets (part of Waymo) revenue was already $388 million
- This figure was $297 million higher than a year ago
- Google Lens is already used for 20 billion queries/month.
- This is one of the fastest growing search products
- The cost of attracting traffic amounted to $13.72 billion
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Stephanie Turner
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Sequoia will make more than $100 million on the Stripe and Bridge deal
- Payments giant Stripe buys Bridge for $1.1 billion
- Bridge is developing a crypto payment platform
- Stripe will pay for Bridge in cash and its own shares
- This is a rare victory for funds in the crypto startup market
- The funds will recoup their investment in Bridge many times over
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Arch Town Labs
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Finix, the full-stack payment processor, announced it has raised $75 million in Series C funding
The initiative was spearheaded by A Crew Capital, with Leap Global and Lightspeed Venture Partners co-leading, and new investors, including Citi Ventures and Tribeca Venture Partners, joining in. Existing investors such as Homebrew, Insight Partners, Inspired Capital, and Cap Table Coalition also contributed.
Finix is a cutting-edge platform that empowers businesses to streamline their payment pr
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