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Haje and I are swapping locations for the subsequent two days whereas he will get some much-needed relaxation. Whereas he’s away, please take pleasure in his newest Pitch Deck Teardown on Glambook. Within the meantime, TechCrunch Disrupt is coming nearer: Meet the ultimate 5 Disrupt Viewers Alternative roundtable winners, and if you’re a scholar, enter our video competitors for an opportunity to win a free move.
And don’t neglect, functions shut tomorrow for Startup Battlefield 200! Apply in the present day to hitch Startup Battlefield 200 for the possibility to exhibit your startup without cost at TechCrunch Disrupt this October and win the $100,000 equity-free prize. Purposes shut August 5. You’ll want to get your functions in by tomorrow! Apply in the present day.
See you tomorrow! — Christine
The TechCrunch Prime 3
- Tooling round: Two years in the past, two former Palantir engineers began Kurtosis, a crypto-focused developer instrument system, and have now raised $20 million in contemporary funding to rent a staff to get a brand new product out within the subsequent 12 months, Jacquelyn experiences.
- Strapping on some capital: Argentine fintech Geopagos leaves the bootstrap life behind because it takes in $35 million in new capital to assist companies launch their very own monetary providers merchandise, Mary Ann writes.
- ‘Snap’ping into some share buybacks: Strikes by Snap and Airbnb to purchase again shares amid slower progress has Alex elevating his eyebrows and searching underneath the hood to see what’s occurring.
Startups and VC
Plenty of startup information once more in the present day, so let’s dig in. First, Natasha M brings us some further layoff information from On Deck, which is reducing one other third of its employees after reducing 1 / 4 just a few months in the past. For these of you who can add fractions, that’s so much, proper?
We loved studying Becca’s investor survey story, the place she interviewed six first-time fund managers about their method to weathering the downturn.
Additionally, purchase now, pay later continues to be extra prevalent on the planet of shoppers (see Anita’s funding story on Halliday), however companies need in on the enjoyable, too. That’s the place Kontempo is available in with $30 million and its method to enabling gross sales groups to approve credit score, Kyle experiences.
- An app a day retains the advertisements away: Nobody likes pop-up advertisements, and a brand new app, Banish, feels you, Sarah writes.
- Connecting content material to individuals: Clutch closed on some early-stage funding to match creators with companies that want content material, Dominic-Madori experiences.
- Rill good: Rill, a enterprise dashboard instrument, talks for the primary time a couple of new spherical and its product that embeds database and immediate person expertise, Ron writes.
- A suggestion they couldn’t refuse: MiroBio, a startup growing therapies for autoimmune sufferers, accepted a proposal to be part of Gilead Sciences for $405 million, Paul experiences.
From NDA to LOI: What actually occurs when your startup is being acquired?
Final week, VP and managing director of Dell Applied sciences Capital Yair Snir shared an article explaining why founders ought to plan on getting acquired, notably since their odds of going public are so lengthy.
In a follow-up, he takes readers contained in the postacquisition integration interval/course of:
- The buying dash
- The highway to an LOI
- Bringing in bankers
- Diving into due diligence
- Defining “day one”
- You’ve been acquired!
“Whereas IPOs could get extra headlines, a well-timed, well-planned acquisition can imply even bigger alternatives for you, your staff and the applied sciences you’ve constructed,” says Snir.
(TechCrunch+ is our membership program, which helps founders and startup groups get forward. You’ll be able to join right here.)
Massive Tech Inc.
In the case of cryptocurrency, BlackRock is now saying, “Why beat them when you possibly can be part of them?” Anita writes in regards to the asset managing big becoming a member of forces with Coinbase to supply its shoppers with entry to crypto, initially Bitcoin. And talking of Coinbase, Jacquelyn and Alex write for TechCrunch+ on why that partnership, and others Coinbase has, is delighting buyers.
Within the realm of social media, we loved Amanda’s story the place she spoke with Patreon CEO Jack Conte on why Instagram and Fb are on his record, and never in a great way. And Aisha tells us what’s up with some new Clubhouse options.
- Automobile discuss: Volkswagen is gearing as much as roll out a less expensive model of its 2023 ID.four later this 12 months, Kirsten writes. In the meantime, Rebecca brings us tales on UFODrive, a European electrical car rental startup, debuting in San Francisco, and what’s occurring with Lyft staff following some layoff information.
- Wally World layoffs: Inflation has even the most important of corporations analyzing their budgets, and on this case, Ivan experiences that Walmart cuts 200 company staff.
- Samsung in key of G: Ivan additionally writes about Samsung bringing Amazon Luna video games to its sensible TVs and displays, whereas Brian highlights what goodies Samsung may announce at subsequent week’s Unpacked occasion.
- Streamers away: In in the present day’s streaming information, Tage experiences on Amazon Prime Video launching an area service in Nigeria, whereas Lauren writes about SoundCloud saying some layoffs and Paramount+ having an excellent quarter by way of subscriber rely.
- Giving again, simply not in the way in which they wished: Manish experiences that the State Financial institution of Pakistan ordered fintech startup Tag to refund all funds to clients, “citing violation of regulatory necessities and ‘different issues,’ posing existential questions on the startup’s future.”