""Our mission has always been the same," Masad told me on the newest episode of TechCrunch's StrictlyVC Download podcast. "Initially, we said we want to make programming more accessible, and then we sort of upped the ante a little bit. We said we're going to create a billion programmers.""
"Earlier this month, the Bay Area-based company closed a $250 million funding round led by Prysm Capital, nearly tripling its valuation from 2023. The raise came on the heels of unprecedented revenue growth for the company - from $2.8 million last year to $150 million in annualized revenue in less than a year."
Replit reached a $3 billion valuation following a prolonged period of struggle and reinvention under CEO Amjad Masad, who has built tools to democratize programming since 2009. The company experienced multiple failed pivots, years at the same revenue plateau, and a near-death moment that required cutting half its staff. A $250 million funding round led by Prysm Capital nearly tripled the valuation and followed rapid revenue growth from $2.8 million to roughly $150 million in annualized revenue in under a year. Masad's long-term mission remains to make programming more accessible and massively expand the number of programmers globally.
Read at TechCrunch
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