Makerbot unicorn5/24/2023 On Friday, The Information reported that last August on-demand delivery startup goPuff reportedly took on a “secret” injection of $750 million by SoftBank, the Japanese conglomerate that has transformed global growth equity with its embattled $100 billion Vision Fund. Put another way: Philadelphia never had a billion dollar tech company that the average resident has ever heard of. Acquired last fall, Monetate, too, has been a flag bearer but, like the rest, is more akin to the plumbing than the painting of the internet’s infrastructure. Boomi, Invite Media and Bluestone Software and others were strong enterprise technology companies that made money behind the scenes. Michael Rubin made a giant of GSI Commerce, the region’s biggest ever exit, then got back to work. Enterprise tech companies have grown and sold, creating some wealth and adding experience.īut in Philadelphia’s Quakerly way, we’ve quietly made well-performing companies that few had reason to know. ![]() The region’s universities have evolved their programs. In the 20 years since the dot-com bubble burst, progress has been made on the checklist. Philadelphia needs a big, fast-growing, tech-enabled company with a household name.įor years, that’s been the most consistent diagnosis of how Philly might graduate to the next stage of regional tech economies to take seriously.
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