My mom gets straight to the point when she describes my pace to others. According to her, I cover companies like Uber before they become companies like Uber. And honestly? I can’t really disagree with the description. The best feeling in tech journalism is telling a story about a startup before it becomes a household name. As a newbie journalist, I honestly bet a lot on the potential of a savvy founder of edtech or a creative game in the market. And when I do my job well, I highlight the unique insight that will make the startup a success or a challenge in the future.
On that note, one of my favorite renewed series at TechCrunch is an EC-1 (Extra Crunch subscription required), a story series that goes through the details of a startup’s history, from its days of operation. origin to its pivots along the way. I’ve spent the last few months on one of these projects – and mine is coming out next week! In the meantime, you’ve been reading packages on StockX and Tonal, and our latest one just released: the Klaviyo EC-1:
Enjoy this long read and thanks to Danny crichton, my Equity co-host and editor here at TechCrunch, who managed and edited all of these projects.
In the rest of this newsletter, we’ll cover data from All Raise, the new Miami, and some new lineup you can’t miss. Follow me on twitter @nmasc_ for updates throughout the week.
All (are not) fall under (d)
All Raise, a nonprofit dedicated to increasing the footprint of female founders and funders, has released its annual report for 2020. It’s all well worth reading, but we’ve paid particular attention to the decrease in funding for founders:
- Round sizes for women + non-binary founders were up to 49% smaller than men
- 85% of venture capital funding goes to all-male teams
- 64% of venture capitalists still don’t have a single female partner
- The founders of Black + Latinx receive just 0.64% of VC funding, a slight increase from the previous year.
Here’s what you need to know: When it comes to stocks, we explained how these abysmal measures were both a predicted but still surprising effect of Zoom’s investment. This disconnect is the conversation no one has when upgrading – and metrics are a way to compare progress.
Internet is the new Miami
To quote Winnie CEO and co-founder Sara Mauskopf, “The Internet is the new Miami”. Networks created online – whether through the rise of meme culture or Substack Spice – can be a competitive advantage in the investment world, as two new funds showed us this week.
Here’s what you need to know: Ryan Hoover and Vedika Jain announced Weekend Fund 3, which will include a $ 1 million in community fundraising. And Chief Meme Officer Turner Novak finally launched Banana Capital’s first fund with funding of $ 9.99 million.
Novak explained how being Internet first affects his investments:
“It just happens where [my investments] are people who understand the culture of the Internet, who understand memes, understand wit and humor and appreciate it a little more, ”he said. “These are probably the people who are the most naturally intuitive investments, so that will definitely skew that direction.”
While Novak does not share any explicit goals or mandates regarding investing in various founders, he pointed to his background at Gelt VC, where 41% of the stake went to female CEOs. To date, 65% of the founding teams in Banana Capital’s portfolio include non-white founders and 50% of the teams include more than one gender.
Through the week
Seen on TechCrunch
AWS for blockchain
Atlassian launches a Jira for each team
CES will return to Las Vegas in 2022
Microsoft’s new default font options, noted
Seen on Extra Crunch
I work my way through analytics: a creator’s journey to design with data
How Brex More Than Doubled Its Valuation In One Year
India is in crisis. It is devastating and heartbreaking to watch this unfold and impact our family and friends, colleagues and people. My colleague Manish Singh, who is based there, described the different ways you can donate to help.
I will end by quoting Singh:
As several major industries, including film and sports, live their lives pretending there is no crisis, entrepreneurs and startups have become a rare ray of hope in recent days, stepping out action to help the country through its darkest hours.
It’s a refreshing change from last year, when thousands of Indian startups themselves were struggling to survive. And while some startups are still severely disrupted, offering a helping hand to the nation has become the priority for most.
Until next week,