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RapidAPI (Rapid)

API marketplace / Developer toolsUSA
New to Unitard
🤝 Acquired
Peak $1 BillionToday
~-90%
from peak
  1. 🦄
    Became a unicorn
    Mar 2022
  2. 📈
    Peak valuation
    $1 Billion ’22
  3. 💔
    Became a Unitard
    2023
  4. 💸
    Last valuation
    ~$100M
Capital raised
$273M
Total raised
$93K/day
Raised per day

Total raised averaged per day over approximately 8.0 years from founding to bankruptcy or shutdown. This is not measured cash burn. Methodology

Funding: TechCrunch (~$273M total; a16z, Microsoft, SoftBank)
Current status
Acquired by Nokia (Nov 2024); price undisclosed, est. ≤$100M

The rise & fall

5 moments · 2015–2024

The key moments, with employee sentiment along the way.

2015
Founded by a teenage developer
Iddo Gino starts a hub where developers can find and connect to APIs — it grows into the largest public API marketplace.
TechCrunch
Mar 2022
The peak: $1B on SoftBank money$1B
A $150M SoftBank-led Series D values the marketplace — 4 million developers, some 40,000 APIs — at $1B, with $273M raised along the way from a16z, Microsoft and SoftBank.
TechCrunch
From the inside · Glassdoor reviews, 2022–23
Glassdoor reviews described a jarring gap between message and reality: employees said they had been assured the company was thriving and in rapid-growth mode only months before the first of two mass layoffs, and recalled a top-down culture in which fear discouraged anyone from raising problems.
2023
82% of the company, gone
Stretched across too many fronts, Rapid cuts staff twice in one year — from roughly 230 employees to about 42 — and falls out of the club.
TechCrunch
Nov 2024
Acquired by Nokia for ≤$100M (est.)
Nokia buys what remains of the marketplace; the price goes undisclosed, with analysts estimating $100M or less — a tenth of the peak.
TechCrunch

💬 entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗; dated facts carry their source.

How it happened

RapidAPI (later Rapid) ran the largest public API marketplace, linking some 4 million developers to roughly 40,000 APIs, and hit a $1B valuation in March 2022 on a $150M SoftBank-led Series D. After trying to compete on too many fronts, it cut about 82% of its staff across two 2023 rounds, shrinking from roughly 230 employees to about 42; in November 2024 the remnant was acquired by Nokia for an estimated $100M or less.

Source: TechCrunch: $1B Series D Mar 2022; headcount cut ~82% in 2023; Nokia acquisition Nov 2024, analysts est. ≤$100M

Founder

  • Iddo Gino
    Founder & CEO
    Now Founder & CEO at GamutLinkedIn ↗

Current roles as self-reported on LinkedIn, retrieved 2026-08-19. See our methodology.

Disclosed investors (19)

Historical funding participation; lists may be incomplete and do not establish current ownership or investor losses.

* Lead in a funding round · Crunchbase ↗ · 2026-10-13 · Methodology · Leaderboard

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