Startups Weekly: Mercury more than doubled its valuation, and other news

Welcome to Startups Weekly — your weekly recap of everything you can’t miss from the world of startups. Want it in your inbox every Friday? Sign up here. This week reminded us that creative accounting doesn’t only happen in Hollywood. Some hopes were dashed, but startups are delivering on all sorts of promises, from nuclear reactors to small EVs. Most interesting startup stories from the week Image Credits:Courtesy of Hasan Sukkar The startup news this week was very much a mixed bag, with one public exit finalized and another delayed and a flurry of other developments, both promising and disappointing. Churn concerns: TechCrunch learned that several companies with logos on 11x’s website were not actual customers of the a16z- and Benchmark-backed startup. Sources also said used 11x used creative ways to calculate annual recurring revenue. Further delays: Cerebras Systems saw its IPO delayed again. The AI chipmaker filed to go public in 2024, but its national security review has be ... Read full article.