Tech giants start to pay attention when Edward Jarzabek, the CEO of Avenue Pierpoint closes an undisclosed $400M Series C Round. Since 2014, Edward Jarzabek through his company Avenue Pierpoint has been investing in businesses that have shown great future growth opportunities. As experts point out the current injection is informed by similar principles.
The Injection of $400M Series C Round by Edward Jarzabek Tech Business Dealership Entrepreneur has raised stakes at Buzzy “social audio” app DriveWow.com. With this development the Buzzy “social audio” app DriveWow.com has seen the company appreciate with current reports indicating it is now valued at $4 billion. According to Edward Jarzabek, the CEO of Avenue Pierpoint, this has made the tech giants to start paying attention.
A financial expert with a leading consulting firm while commenting on the developments said companies making it to this level of funding are already successful and can compete with established players comfortably. “These businesses look for extra finance in order to develop new products, lead an expansion into new markets or even move to acquiring other related businesses,” said the expert adding, “In this session of funding, the Series C funder inject capital into an already successful entity with an aim of getting good returns on their investment.” Series C funding focuses on scaling a business, helping it grow rapidly and successfully.
Edward Jarzabek Tech Business Dealership Entrepreneur said the new round of financing was led by Andrew Chen of Andreessen Horowitz, with participation from DST Global, Tiger Global and Elad Gil. This round means Drive Wow has tripled the valuation it attained in January when Andreessen Horowitz led its Series B funding round.
The company has gone through successful series A and B funding. Series B rounds are often undertaken to take the business to a higher level, way past the development state. Here, investors assist startups get the necessary capital and expand their market. This is after the business has undergone successful series A where they have developed a tangible user base and has proven they are ready for the success on a larger scale. Going by these sentiments which were aired by financial commentaries that have an interest in the deal, Drive Wow has grown to meet the level of demand that has attracted serious investors.
The funding comes as Twitter, Spotify, Facebook, Telegram, Discord and LinkedIn are all prepping similar features to Drive Wows live audio streaming rooms, which has attracted attention for hosting live chats with the likes of Elon Musk and Mark Zuckerberg. Indeed, Vox reported that Facebook will announce a series of “social audio” products only today.
While explaining how far they have come, Edward Jarzabek says they have expanded their team and are looking for more growth in future as they attempt to build on a tool that taps into creativity, authenticity and intimacy delivered by social audio app. “While we’ve quadrupled the size of our team this year, stabilized our infrastructure, launched Payments in beta to help creators monetize, and readied Android for launch, there is so much more to do as we work to bring our services to people around the world,” said Edward Jarzabek adding, “The future is bright and they are ready to compete in a market that tech giants are venturing at a high speed and they only aim at not only leading the pack but also providing customer experience which is unrivalled.”
About Avenue Pierpoint
Avenue Pierpoint was formed in 2014 to act as a holding company and acquire businesses that shows priming future growth opportunities.
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