Welcome to the 16th issue of the Tech Wrap-Up Europe newsletter.
Every fortnight, we'll be sharing interesting stories and expert insights from LinkedIn members.
In this issue, Sam Shead looks at the top startups across the UK and Europe, the IPO window and what Facebook, Instagram and YouTube are doing to try and compete with TikTok.
Growing a startup hasn't exactly been easy over the last 12 months but some founders are faring better than others. So which startups are on the rise?
LinkedIn highlighted some of the most promising young companies in the annual Top Startups lists last week. Based on unique LinkedIn data, the lists highlight the firms that are growing fast, gaining traction and recruiting top talent in today’s tricky economic environment.
The UK and Europe rankings feature startups focused on sustainability, mental health, mobility, foods of the future and more.
My colleague Polly Dennison spoke to makeup artist Aimee Connolly lly, the founder of cosmetics company, Sculpted by Aimee, which topped the Ireland list. The multi-million euro, international brand, was founded at Connolly's kitchen table, and has grown more than 100% a year, despite not seeking outside funding in its seven years.
The company has grown slowly, but steadily – at more than 100% most years – from just two products, to a range of more than 80 now. It is available across more than 400 outlets in Ireland, including a flagship store on Dublin's Grafton Street, and pharmacy chains. In the UK, she has a store in Belfast and Boots stocks the range. Connolly has also recently expanded to the United Arab Emirates and Saudi Arabia. "When you have global plans, you can't sit still in Ireland," Connolly says.
In the UK, employee wellbeing app Peppy topped the list, while AI software maker V7 came second and tech jobs platform Otta.com came third. Elsewhere on the list, there was carbon offsetting platform Ecologi | Certified B Corp and natural deodorant maker Wild.
"A real mix of AI, people and planet focus here, with some innovative health and FS examples sprinkled in too," wrote tech comms director Sarah Fardon of the UK list.
- See the full UK list here.
- See the full Pan-Europe list here.
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How can tech startups stand out from the crowd? Join the conversation using #LinkedInTopStartups.
Venture capitalists are urging startups in their portfolios to postpone any plans to go public after disappointing stock market debuts last month from Cambridge chip designer Arm and US delivery firm Instacart.
After an initial pop, Arm's shares have hovered around its $51 (€49) listing price, while Instacart's ended September below the $30 listing price.
Some were hoping that an "IPO window" would open if the recent tech listings went well. While the window may be slightly ajar, it's far from wide open
Mike Volpi , a general partner at venture capital firm Index Ventures , told the Financial Times that his firm is advising founders to "hold back" unless they "really need to" IPO.
But not everyone agrees that VCs should be telling founders to delay their IPOs.
"This is bad advice in my humble opinion," Neil Shah, a director at the London Stock Exchange with a tech focus, wrote on LinkedIn. "You should IPO when it’s right for the business."
"The market is rarely closed as we saw throughout the pandemic," he added. "Valuations may not be ideal but better to grow into one than to fall from one and never recover."
Meanwhile, Mike McCudden, CEO of InfinitX, wrote on LinkedIn that companies who are thinking about listing need to give it careful consideration. "It’s an expensive and time consuming process that might not yield the result they want," he said, noting that there are other options available for those looking to raise money.
"Ultimately, the decision taken should be based on the specific financial needs of each startup," UX team lead Taiwo Alawiye wrote on LinkedIn.
"If a startup needs a substantial amount of money to fuel growth and there's a good chance of success in the stock market, then an IPO might make sense," she said. "However, if the market conditions are unfavourable or the company can secure funding through other means without the complexities of being publicly traded, delaying the IPO could be a prudent choice."
What should a startup take into account to determine whether to IPO or not? Share your thoughts in the comments.
ByteDance's TikTok has become one of the go-to apps for many teenagers looking to kill some time, but the old guard are trying to come up with ways to keep younger audiences engaged.
Last week, Meta CEO Mark Zuckerberg announced a series of AI chatbots with "personality".
Initially available in the US on Messenger, WhatsApp and Instagram, the 28 chatbots are designed to be able to share information on specific topics including cooking and holidays.
Meta is giving developers the power to create their own versions of AI assistants, while several celebrities including Snoop Dogg, Paris Hilton and Kendall Jenner have agreed to "lend" their voice and likeness to Meta's chatbots.
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"It's just one part of Meta's mission to make AI more accessible and less scary," tech journalist David M. Ewalt wrote on LinkedIn.
When it comes to YouTube , the company said AI will power several newly announced tools on the video platform, including one that allows creators to add AI-generated videos or photos in the background of short-form content. Creators will also be able to use AI to generate personalised ideas for new content.
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Do you think YouTube Shorts can compete with TikTok and Instagram when it comes to snappy vertical videos? See what experts are saying here and join the conversation in the comments below.
 Spotify CEO Daniel Ek says AI-generated music is "tricky". The Swedish tech entrepreneur said using AI in music is likely to be debated by the industry for "many, many years". Here's what people are saying.
 OpenAI to team up with Jony Ive? Apple's former design mastermind Jony Ive is talking with OpenAI CEO Sam Altman about developing AI hardware, The Information reports, citing anonymous sources. OpenAI is backed by LinkedIn parent Microsoft. Here's what people are saying.
 Airbnb to make big changes. CEO Brian Chesky said that the company will scale up its customer service system, which "was designed for a much smaller company which grew like crazy." Here's what people are saying.
 Uni offers degree in influencing. Southeast Technical University in Carlow, Ireland, is due to open applications for a bachelor of arts in content creation and social media this November. The four-year course will cover topics including business skills, video and audio editing, critical cultural studies and creative writing amid growing interest from potential students and employers. Here's what people are saying.
 AI to slash working hours. J.P. Morgan CEO Jamie Dimon says AI will cut the workweek down to 3.5 days by the time many of today’s kids enter the workforce. Here's what people are saying.
Stuart Miles – Stuart is a smartphone expert who recently attended the launch of the new iPhone at Apple's headquarters in Cupertino, California.
Cassidy Bereskin – Cassidy is a PhD researcher at the University of Oxford, as well as the director of the Oxford Generative AI Summit.
Aimee Connolly – Aimee is the founder of cosmetics company Sculpted by Aimee, which topped the Ireland list.
Get Hired UK – A fortnightly update dedicated to advice and insights on landing your next role and progressing in your career.
Get Hired Europe – A newsletter focused on helping you land your next job.
Insider UK – a biweekly newsletter keeping you inspired, informed and connected to the LinkedIn community.
Finance Wrap-Up UK – The latest financial news and insights from LinkedIn News UK finance editor Manas Pratap Singh.
Retail Wrap-Up UK – The latest retail news and insights from LinkedIn News UK retail editor Aaron Toumazou.[/size] |
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Startups on the rise in the UK and Europe