New York City startups outraised Silicon Valley startups $4.23 billion to $4.18 billion in the third quarter this year, thanks in large part to a mammoth $2.5 billion raise by coworking leaders WeWork.
The city seems to be on the offensive, as this week has also borne a Civic Hall–led #WeWantYouInNYC campaign, which includes a billboard on Route 101 outside of Palo Alto.
One thing to note on the fundraising front is that the Bay Area is actually split up in the report between Silicon Valley/South Bay and San Francisco/North Bay. If the two were combined, it would have squashed New York with $6.37 billion in total funding. But they weren’t and we won this round.
As seen on Route 101 in Palo Alto, Calif. (Photo courtesy of Civic Hall)
The numbers come from the Q3 2017 MoneyTree Report from PwC and CB Insights.
Business Insider has a good story on it this morning.
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