Data Startup Tractiv Struggles to Stay Afloat After Hollywood Deals Fall Through Amid Layoffs and Strikes
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Tractiv, a data tracking software startup, was set to sign a deal with Marvel Studios before layoffs and Hollywood strikes derailed it.
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The company now has enough cash to make it to Thanksgiving but needs $600k-700k more to survive a few more months.
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Tractiv's struggles show how higher interest rates have made startups more vulnerable to external shocks.
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Venture capital funding for early stage startups has dropped dramatically this year after a pandemic boom.
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Tractiv pivoted to Hollywood from finance but ran into issues when Disney restructured and writers/actors went on strike.