Content: According to a report by Bloomberg, developer tools company StackBlitz Inc. is in talks with investors to raise funds at a valuation of $700 million. The company's CEO, Eric Simons, stated that the deal will be led by Emergence Capital and GV (formerly Google Ventures), with StackBlitz expecting to raise $83.5 million. Other investors participating in this financing round include Madrona Venture Group, Conviction, and Mantis.
Founded in 2017, StackBlitz initially focused on web development software but has recently found a new market position with its AI product, Bolt.new. Bolt.new is a platform that helps users build websites through artificial intelligence, attracting nearly one million users monthly since its launch last October, primarily through word-of-mouth. Simons revealed that this service generates tens of millions of dollars in recurring revenue for the company each year.
When discussing the company's development, Simons mentioned that StackBlitz was nearly facing dissolution five months ago, but the launch of Bolt.new changed the situation, becoming a successful product after "seven years in the making." An important feature of this platform is that users, even with limited technical skills, can create web applications using voice commands, significantly lowering the barriers to programming.
After this financing round, Emergence Capital partner Joe Floyd will join the StackBlitz board, noting that Bolt.new achieved rapid revenue growth within three months of its launch, outpacing previous investments in companies like Zoom and Salesforce. GV partner Erik Nordlander also stated that StackBlitz makes software development more accessible, calling it "the fastest way to build applications."
According to PitchBook data, other investors in StackBlitz include Flex Capital, Greylock Partners, and Tribe Capital.
Product link: https://bolt.new/
Key points:
🌟 StackBlitz is in talks with investors to raise $83.5 million at a valuation of $700 million.
🚀 Its newly launched AI product, Bolt.new, attracts nearly one million users monthly and has already generated tens of millions of dollars in annual revenue.
💡 StackBlitz allows non-technical users to create web applications through simple commands, lowering the barriers to programming.
