Lovable on track to raise $150M at $2B valuation
The raise and giant step-up in valuation comes just months after the Swedish startup raised a $15 million round led by Creandum in February. The company described that round to TechCrunch as 'pre-series A,' but with numbers this large, it's safe to say that Lovable has jumped from seed rounds to priced growth rounds, whatever the serial alphabetic label should be. Accel is said to be leading this new raise, with Creandum and others like 20VC participating.
While the company is technically two years old, founded in 2023, it released its web-app building product in late November. In May, Lovable CEO Anton Osika tweeted that Lovable hit $50 million in ARR in six months.
Lovable, like competitors Replit and Bolt, builds entire web apps from an initial text prompt, including a user interface/front end (often via the popular UX coding tool React) and connected to a database like Supabase. Some users say it's affordable, starting at $25 a month for 250 'credits.' One Reddit user documented an app with 29,000+ lines of code and dozens of functions built for $250.
On Monday, Lovable announced that it was releasing a beta version of an AI agent that could automate more tasks like editing code after reading project files or debugging. Lovable will charge on a usage-based model for this: the more the agent is asked to do, the more credits it will charge.
While this may increase fees for users if they turn over their app management to the agent, this pricing model is shaping up to be the default business model for agents. This is because the AI startups themselves have to pay variable fees to model providers like OpenAI or Anthropic. All this to say, such business model strategies would make investors happy.
Accel, 20VC and Lovable did not respond to a request for comment.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 hours ago
- Yahoo
US and China prepare to extend tariff pause after Stockholm talks
The United States and China have agreed to work on extending a deadline for new tariffs on each other after two days of trade talks in Stockholm concluded on Tuesday, according to Beijing's lead negotiator. The US side said the extension was discussed, but still required approval from President Donald Trump. US Treasury Secretary Scott Bessent claimed "our Chinese counterparts have jumped the gun a little" when announcing a pause, although he described the talks as 'very fulsome two days with the Chinese delegation". China said the two sides had 'in-depth, candid and constructive' discussions and agreed to work on extending a pause in tariffs beyond a 12 August deadline for a trade deal for another 90 days. 'A stable, healthy and sustainable China-US economic and trade relationship serves not only the two countries' respective development goals but also contributes to global economic growth and stability,' said China's Vice Premier He Lifeng, who led the Chinese side, according to a statement from China's Ministry of Commerce. He did not say how the extension would work. Bessent added that the two sides touched on US concerns over China's purchase of Iranian oil, supply of dual-use tech to Russia that could be used on the battlefield, and the manufacturing of goods at a rate beyond what is sustained by global demand. 'We just need to de-risk with certain, strategic industries, whether it's the rare earths, semiconductors, medicines, and we talked about what we could do together to get into balance within the relationship,' Bessent said. He stressed that the US seeks to restore domestic manufacturing, secure purchase agreements of US agricultural and energy products, and reduce trade deficits. Meeting in the Swedish capital The latest round of talks opened Monday in Stockholm to try to break a logjam over tariffs that have skewed the pivotal commercial ties between the world's two largest economies. The two sides previously met in Geneva and London to address specific issues — triple-digit tariffs that amounted to a trade embargo and export controls on critical products — China's chokehold on rare earth magnets, and US restrictions on semiconductors. Monday's discussions lasted nearly five hours behind closed doors at the office of Swedish Prime Minister Ulf Kristersson. Before the talks resumed Tuesday, Kristersson met with Bessent and US Trade Representative Jamieson Greer over breakfast. A possible Trump-Xi meeting The talks in Stockholm unfolded as President Donald Trump is mulling plans to meet Chinese President Xi Jinping, a summit that could be a crucial step toward locking in any major agreements between their two countries. 'I would say before the end of the year,' Trump told reporters aboard Air Force One on Tuesday. On his Truth Social media platform, Trump insisted late Monday that he was not 'seeking' a summit with Xi, but may go to China at the Chinese leader's invitation, 'which has been extended". "Otherwise, no interest!' he added. Bessent told reporters the summit was not discussed in Stockholm but that they did talk about 'the desire of the two presidents for the trade team and the Treasury team to have trade negotiations with our Chinese counterparts". Greer said the American team would head back to Washington and 'talk to the president about' the extension of the August deadline and see 'whether that's something that he wants to do". Striking tariff deals The US has struck deals over tariffs with some of its key trading partners — including Britain, Japan and the European Union — since Trump announced earlier in July elevated tariff rates against dozens of countries. China remains perhaps the biggest challenge. 'The Chinese have been very pragmatic,' Greer said in comments posted on social media by his office late Monday. 'We have tensions now, but the fact that we are regularly meeting with them to address these issues gives us a good footing for these negotiations.' Related US and China push for breakthrough in Sweden as tariff talks enter day two China announces child subsidy programme as births hit historic lows Many analysts had expected that the Stockholm talks would result in an extension of current tariff levels, which are far lower than the triple-digit percentage rates proposed as the US-China tariff tiff reached a crescendo in April, sending world markets into a temporary tailspin. The two sides deescalated tensions during bilateral talks in Geneva in May and agreed to a 90-day pause on sky-high tariffs — which ends 12 August. The US duties currently stand at 30% on Chinese goods, while China is placing a 10% tariff on US products. The long view While China has offered few specifics of its goals in the Stockholm talks, Bessent has suggested that the situation has stabilised to the point that Beijing and Washington can start looking toward longer-term balance between their economies. Since China vaulted into the global trading system more than two decades ago, Washington has sought to press Beijing to encourage more consumption at home and offer greater market access to foreign, including American-made goods. Wendy Cutler, a former US trade negotiator and now vice president at the Asia Society Policy Institute, said Trump's team would today face challenges from 'a large and confident partner that is more than willing to retaliate against US interests". Rollover of tariff rates 'should be the easy part', she said, warning that Beijing has learned lessons since the first Trump administration and 'will not buy into a one-sided deal this time around". Goodbye Stockholm Bessent said the 'overall tone of the meetings was very constructive" while Li said the two sides agreed in Stockholm to keep close contact and to 'communicate with each other in a timely manner on trade and economic issues". On Monday, police cordoned off a security zone along Stockholm's vast waterfront as curious tourists and locals sought a glimpse of the top-tier officials through a phalanx of TV news cameras lined up behind metal barriers. Flagpoles at the prime minister's office were festooned with the American and Chinese flags.
New York Times
5 hours ago
- New York Times
The 10 players to keep an eye on over the rest of the transfer window
Over halfway through the main summer transfer window, several Premier League stars' futures remain up in the air, and multiple high-profile moves are still on the cards. The window reopened on June 16 (there had been an initial early one between June 1 and 10 before the Club World Cup) and will close on the evening of Monday, September 1. Advertisement Florian Wirtz (Liverpool), Viktor Gyokeres (Arsenal), Liam Delap (Chelsea) and Bryan Mbeumo (Manchester United) are among the marquee signings so far. But there are plenty more deals that clubs will be trying to get done over the next month — and players who will want to move on. Here, The Athletic breaks down the key moves to watch out for over the coming month. Newcastle's stance all along has been that Alexander Isak is not for sale. However, as David Ornstein reported on Thursday, the Swedish striker has now told the club he wants to leave after three seasons and he has not travelled on their pre-season tour to Singapore and South Korea. Newcastle have been exploring potential replacements, in case they do end up selling. Losing Isak's eye for goal as they prepare to compete in the coming season's Champions League would be a huge blow, but head coach Eddie Howe is clearly aware it could happen: 'I would love to believe all possibilities are still available to us. My wish is that he stays, but that's not in my full control.' Premier League champions Liverpool seem his most likely destination. The Anfield club indicated they would be willing to pay up to £120million ($160m) for Isak. A move has not progressed, but the player wanting a move could test Newcastle's resolve. While Arsenal's admiration for the 25-year-old is well-known, the arrival of his countryman and fellow striker Gyokeres at the Emirates Stadium probably changes their outlook. Chelsea do not have Jackson up for sale, but he could move on in this window if they receive a big enough offer. The Senegal international striker scored 10 goals in 30 Premier League games in 2024-25, but has come in for criticism at times, not least for his red card and two-match ban at the recent Club World Cup. Chelsea have added Delap and Joao Pedro to their attacking options in this window, so a transfer for the 24-year-old in the coming weeks could make sense for all parties. He is under contract until 2033, so Chelsea have no need to sell. Manchester United had explored a deal for Jackson but have now ruled him out of their search due to the world champions' asking price. When Manchester City broke both theirs and the British transfer record to sign Grealish from Aston Villa in summer 2021, or when he helped them to a historic treble in 2022-23, they likely would not have expected to be saying goodbye to him in 2025. Now, though, Grealish has fallen out of favour at the Etihad Stadium. He only started seven Premier League matches last season and was then left out of their Club World Cup squad entirely. Advertisement 'Do I want the Jack that won the treble? Yeah, I want it, but I try to be honest with myself,' City manager Pep Guardiola said in January. 'I fought a lot for him, fought a lot to be here. I know that he can do it, because I saw him. I saw his level and I want that, every single training session and every single game.' Guardiola insisted excluding Grealish from City's final Premier League game of the season in May was 'nothing personal' — but whatever the reason for his drop down the pecking order, an exit feels beneficial for both parties. Grealish is better suited to a more creative and free-flowing role than he has had at City, and he needs minutes to stand any chance of being in England's 2026 World Cup squad. Guardiola has been vocal about wanting to trim his number of first-team players at City. A destination is not clear, especially given Grealish's high wages and the fact he turns 30 in September. On the other side of Manchester, there are several players United want to move on this summer. At 21, Garnacho must be the most attractive of that group to suitors. After a public fallout from his lack of minutes in May's Europa League final, and head coach Ruben Amorim telling Garnacho in front of his team-mates to find a new club, his exit has gone from something United would have reluctantly considered in January to a key aim in July. Unlike most of United's so-called 'bomb squad', Garnacho still has credit in the bank from strong recent performances, which should make it easier for the club to command a respectable fee for him. As reported in the latest Transfer DealSheet, Chelsea are interested in the Argentina winger. Amorim has insisted that United's out-of-favour players will not be sold off on the cheap, and there is a chance of them rejoining the team. Tottenham Hotspur have a difficult decision to make on Son's future. Whatever happens, he will always be the captain who ended the club's 17-year trophy drought in that Europa League final in May, but he turned 33 this month and has less than a year left on his contract. The Athletic reported on July 23 that Los Angeles FC want to sign Son before the MLS transfer window closes on August 21. Advertisement New Spurs head coach Thomas Frank has not decided whether Son will still be captain in the coming season. When asked about the forward's future in his first press conference after taking the job, Frank said: 'It's always tricky, situations like that. Right now, I have a player who is fully committed and training well. If a player has been at a club a long time, then there will always be a decision for the club to take.' The France international forward is among the players Chelsea are considering selling this summer to cut down their squad size. With the arrivals of Delap and Joao Pedro, Nkunku's minutes do not seem likely to improve — and he only made nine Premier League starts last season. The Athletic reported that Chelsea have significantly reduced their asking price for Nkunku, from £65million in January to about £43.3m in the current window. He has attracted interest from other Premier League clubs, as well as clubs in Italy and Germany. Newcastle could reignite their pursuit of the 25-year-old England centre-back. They would not meet Crystal Palace's £65million asking price last summer, but now Guehi is into the final year of his contract, that figure could come down. The Athletic reported in this week's Transfer DealSheet that Liverpool are interested in Guehi after selling fellow defender Jarell Quansah to Bayer Leverkusen. Palace will not want to let their captain leave, but without consenting to a move now, they risk losing him for nothing as a free agent next summer. The Aston Villa goalkeeper, the holder of the Yashin Trophy and FIFA The Best Men's Goalkeeper award, has been linked with moves all summer. Martinez has been crucial in Villa's rise over his five seasons there, but his emotional farewell to fans at the end of the season suggested he could be on the move. A transfer would help Villa financially: he is under contract until 2029, which could help bring in a significant fee, and has a high salary. Advertisement The 32-year-old had been linked with Manchester United, but The Athletic reported in this week's Transfer DealSheet that a move to Old Trafford has now been effectively ruled out. Villa would only agree to a permanent deal rather than a loan, which United will not entertain due to the cost. There was interest from clubs in the Saudi Pro League earlier this year, though there are doubts over whether the idea of going there would be attractive for the player. It could finally be time for Sesko's arrival in the Premier League. The 22-year-old RB Leipzig striker's new contract was signed last year with the understanding that if an elite club — by Sesko's definition — offered a fee in the region of €80million to €90m (£69.2m-£77.9m/$92.4m-$104m), he would be allowed to leave. Those elite teams could include Manchester United and Newcastle. Both have been linked to the Slovenian before: Newcastle tried to sign him in 2022, while the Mancunians have tracked him as far back as when he was 16. Sesko is not certain to leave Leipzig. He is not against spending another year at the German club and has trained well during their pre-season camp. Even so, The Athletic reported that Sesko would be a top target for Newcastle if Isak leaves, and that Manchester United have narrowed their striker search to him and one other option… Alongside Sesko, Watkins is Manchester United's other striker target, as reported by Laurie Whitwell. Aston Villa wanted £60million from Arsenal for the England international in January; United would not spend that much either, and would look to find an agreement at £40m to £45m. The key priority for United is adding a Premier League-proven goalscorer. Watkins would be a fairly short-term solution as he turns 30 this year, but fits the experience criteria. He registered 16 Premier League goals in 2024-25 — by contrast, Rasmus Hojlund scored four for United. As with Sesko, the Old Trafford club are working to establish the potential costs of a deal. (Top photos: Getty Images)
Yahoo
7 hours ago
- Yahoo
US second quarter GDP growth to reflect tariff turbulence
US economic growth is expected to rebound in the second quarter, analysts said, in a momentary comeback reflecting trade shifts as companies tried to avoid the harshest of President Donald Trump's wide-ranging tariffs. The world's biggest economy is anticipated to expand at an annual rate of 2.5 percent in the April to June period, according to a consensus forecast by This marks a reversal of a 0.5 percent decline, annualized, seen in the first three months of the year. But cost pressures from tariffs, among other factors, could later bog down investment and consumption -– a key driver of the US economy. "It's very much distorted by the trade flows and inventory," said Nationwide chief economist Kathy Bostjancic, referring to second quarter growth. At the start of the year, businesses rushed to stock up on products in an effort to avoid Trump's threatened tariff hikes -- but this build-up is now unwinding. The imports surge ahead of tariff hikes in the first quarter led to the largest drag on GDP growth from net exports on record, analysts at Goldman Sachs said in a recent note. This means a bounce back is expected once imports cool. But the acceleration is not sustainable, Bostjancic told AFP. Trump had raised the idea of across-the-board tariffs targeting trading partners during election campaigning last year, and since returning to the US presidency in January he has rolled out wave after wave of fresh duties. These included a 10 percent levy on almost all US partners, higher duties on steel, aluminum and auto imports, as well as separate actions against Canada and Mexico over illegal immigration and illicit fentanyl flows. In April, the Trump administration separately took aim at the world's number two economy, China, as Beijing pushed back on US tariffs. Both countries ended up imposing tit-for-tat tariffs on each other's products, reaching triple-digit levels and bringing many trade flows to a halt before Washington and Beijing reached a temporary agreement to lower duties. After two days of talks in the Swedish capital of Stockholm this week, negotiators from both countries signaled there could be an extension of the truce -- although the final call depends on Trump. - 'Clear deceleration' - Bostjancic expects that underlying activity driving US gross domestic product will be moderating, although not collapsing. "The US economy continues to navigate a complex set of crosscurrents, obscuring a clear reading of its underlying momentum," said EY chief economist Gregory Daco in a note. But he added that one trend is evident, which is that "economic activity is decelerating even as inflationary pressures are reemerging." "Tariff-induced cost pressures, persistent policy uncertainty, severely curtailed immigration, and elevated interest rates are collectively dampening employment, business investment and household consumption," Daco said. Analysts are closely eyeing the impact of Trump's tariffs on inflation, with economists warning that the duties could fuel price increases. They expect to learn more from data in the summer months. All of this could impact consumer spending -- a key economic driver. "The trend in GDP growth is best analyzed by considering the first and second quarters together," said Samuel Tombs, chief US economist at Pantheon Macroeconomics. "The likely average growth rate of about 1.5 percent over these two quarters represents a clear deceleration from the 3 percent rates in the previous two years," he added. He said in a note that the US economy would probably "lose more momentum" in the third quarter, when consumer prices for imported goods likely will rise sharply. And "adverse consequences" of economic policy uncertainty will also start to materialize when it comes to business investment, Tombs said. Analysts have noted that companies tend to hold off major decisions during times of uncertainty, given the risk of sudden policy shifts. "We continue to expect GDP growth to average just 1 percent in the second half of this year," Tombs said. bys/sla/dw
