Toptal, a pool of independent programmers, has acquired website WeLoveNoCode (WLNC) and Nikita Shevchenko’s no-code app development service. Part of the team will join the new owner, the rest will leave the company and dedicate themselves to other projects.
Nikita Shevchenko is willing to help Toptal integrate WLNC; His other plans include immersion in VR/AR, robotics and other related industries. He is also open to discussing projects in these areas.
The deal became an exit for WeLoveNoCode investors. In 2021, the startup made three investment rounds for a total of $1.4 million. In May, Nikolai Davydov and the Liberman brothers invested in the startup, in October WeLoveNoCode raised $1 million for them, and then the startup was valued at $12.5 million. In 2022, WLNC received $3 million from the Californian fund Mantis VC.
Dsight founder Arseniy Dabbakh believes that the transaction amount can be estimated between $11 and $14 million.
An RB.RU source familiar with WLNC’s work called the company’s situation at the time of its sale “difficult”, but typical of startups: WLNC “raised a lot of money” and, at the request of investors, He hired expensive people. specialists from the USA, invested money in marketing and tested various development hypotheses.
“What happened after? Late last fall, the company began to run out of money. Many leading specialists were fired and simpler specialists resigned on their own because of the toxic atmosphere,” a source told RB.RU.
The company’s activities were also affected by the geopolitical situation in the world.
According to the interlocutor, the management of WLNC tried to rectify the situation, but later began to look for a way to sell the company.
The WLNC founder did not provide RB.RU with further details about the deal.
Toptal is intended for developers, designers, financial experts, project managers, and product managers. To work on the stock exchange, you need to register on the website and go through a multi-stage selection process. The verification process may take two to five weeks.
Author:
Karina Pardaeva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
