After a cash injection: Personio is worth $ 8.5 billion

Startup Munich HR has quintupled its rating since 2021. Also: Gorillas doesn’t seem to find a buyer and Elon Musk makes it clear how many Tesla employees have to go.

Personio co-founder and CEO Hanno Renner
PR / Person

Good morning! While you slept, the work continued elsewhere in the digital scene.

The main topics:

Person managed to raise $ 200 million in investments, including from financial investor Greenoaks Capital. Thanks to the new cash injection, the Munich-based personnel software provider is now valued at $ 8.5 billion. Personio is currently the second most valuable startup in Germany behind Celonis. The company was able to strengthen this position once again after the new rating. The new amount will increase the funding round from October, when the company had already raised $ 270 million.

The funding will be used both to further expand the customer base – which now includes 6,000 companies with over 500,000 employees – and to improve the platform. Automation tools must be in place to improve the internal operational processes of companies. [Mehr bei Handelsblatt und Techcrunch]

On Founder scene: Learning to deal with doubts – the doubts of others and your own. That was the first lesson that Momox-Founder Christian Wegner learned. There should be many more, as our editor Nina Anika Klotz revealed to our editor. And Wegner was often desperate: with works councils, data protection issues, and layoffs. He has given us nine (bad) situations that any start-up team will most likely encounter at some point. [Mehr bei Gründerszene+]

And here are the other titles of the evening:

Gorilla is considering entering a strategic investor and even selling to a competitor, Gründerszene reported Monday. According to a media report, however, the investment bank hired by the gorillas, JP Morgan, has so far found no one interested in the food delivery service in Berlin. Several people familiar with the matter told “Handelsblatt”. Gorilla himself refused to comment on the newspaper. [Mehr bei Handelsblatt]

TeslaCEO Elon Musk spoke at an event in the United States about how many Tesla employees will actually lose their jobs. Musk confirmed reports that Tesla plans to reduce its workforce by 10 percent over the next three months. But he pointed out that the US electric car maker also wanted to increase the number of hourly employees. Thus, layoffs would only affect about 3.5% of the total workforce. Employees make up approximately two-thirds of Tesla’s employees. On Sunday, two former Tesla employees filed a lawsuit against the company, claiming the company violated US federal law with “collective redundancies.” [Mehr bei Business Insider und CNBC]

DocumentCEO Dan Springer will step down, the company announced on Tuesday. The decision came after the electronic signature software maker lost more than 60% of its market value this year. The company did not provide an official reason for his departure, but said Springer “has agreed to step down with immediate effect.” A final successor has not yet been named. Springer took over the role in 2017 and went public in 2018. A staff change Amazon also made headlines: Amazon manager Doug Herrington will replace his colleague Dave Clark as head of retail operations. [Mehr bei Wall Street Journal und The Information]

Blockfi partnered with the cryptocurrency exchange FTX agreed on a line of credit of US $ 250 million. With this, the crypto loan company wants to strengthen its balance sheet. Blockfi has come under financial pressure in recent weeks and fired 20% of its employees earlier this month. Most recently, the company liquidated a loan to cryptocurrency hedge fund Three Arrows Capital. In a planned funding cycle, the company’s valuation must also be reduced by one fifth. [Mehr bei Financial Times und The Information]

audible can be happy with a major victory: after Barack and Michelle Obama’s podcast contract with the Swedish music streaming service Spotify expires, the Amazonian company Audible has signed a contract with the former president of the United States and his wife. For Audible, which is better known for audiobooks than podcasts, this is a big win. The separation between Obama and Spotify is said to occur at mutual request. [Mehr bei Techcrunch und The Verge]

Our Gründerszene reading tip: Everphone lends second-hand smartphones to large companies. Investors have so far invested hundreds of millions in the Berlin company. Those 18 slides brought in millions. [Mehr bei Gründerszene+]

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Good Wednesday!

Your editors Gründerszene

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