SITUATION ANALYSIS: At a new $5.2B valuation, Mercury is seeing a surge in new startup formation.
Mercury CEO
@immad says applications into Mercury were up 2.5x in Q1 compared to last year, and roughly 75% of its customers are within six months of incorporation.
His read: AI is not just creating AI startups, it is making it easier to start normal businesses too.
“In Q1 this year, we saw a 2.5x increase in number of applications into Mercury.”
“75% or so of our customers tend to be within six months of incorporation.”
“Most entrepreneurs would say AI is making their life easier. You can build much bigger companies with a small set of employees.”
“I think there is a surge of entrepreneurship.”