The value of venture capital investments in the past three years in St. Louis is up 90% compared to the prior three years, per PitchBook. Cloud-based software firm Essence Group Holdings has conducted three raises worth a combined $241 million since 2011.When it comes to startups, out with the old and in with the new. Forbes points out that “generational wealth created by Silicon Valley companies like Apple, Google and Facebook” has raised the cost of living in area and priced out workers. “[M]edian home prices are $1.1 million in San Francisco, and business costs are 57 percent higher than in St. Louis," it notes.
Riverfront Times works for you, and your support is essential.
Our small but mighty local team works tirelessly to bring you high-quality, uncensored news and cultural coverage of St. Louis and beyond.
Unlike many newspapers, ours is free – and we'd like to keep it that way, because we believe, now more than ever, everyone deserves access to accurate, independent coverage of their community.
Whether it's a one-time acknowledgement of this article or an ongoing pledge, your support helps keep St. Louis' true free press free.