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Hello and welcome to Extra Crunch for July 21, 2021. It has been a good day for crypto fans, with major coins seeing some recovery from recent lows. However, Bitcoin and Ether remain depressed over a seven-day period. And the stock market is on the rise today. What more could you ask for on a Wednesday? Well, how about a huge bunch of news on startups and tech? We can do this! – Alexis
The Top 3 TechCrunch
- The Clubhouse is leaving the beta: Clubhouse, the live audio startup that captivated the tech world earlier this year, is no longer in beta. The move is a bit late considering the work Twitter has done with its Spaces product, but is welcome nonetheless. The data indicates that Clubhouse has a time in India, a key tech market like Daily Crunch has been discussing ad nauseam.
- Tumblr goes pro: Fancy a comeback story? Tumblr certainly does. After being part of Yahoo through a $ 1.3 billion deal, and then part of Verizon after the company (and still the parent company of TechCrunch’s parent company) bought the online portal giant, it was sold to Automattic for a song. Now he wants to join the boom in the designer economy by allowing his users to set up pay walls. That’s what we’re here for – the internet would be more fun with a healthy Tumblr in the mix.
- Byju arrives in America: Indian edtech superstar Byju’s arrives in the United States on the heels of his recently announced $ 500 million deal for Epic, which TechCrunch has described as a “California-based reading platform.” The edtech market is hot, something we have known for a long time. Duolingo’s IPO is also in the mix, as is a recent $ 24 million funding round for Sololearn, a startup that wants to take Duolingo’s model and apply it to learning to code.
Startups / VC
We have a lot to discuss today from the startup world thanks to the supercharged venture capital cadence in the world. At the top, if you’re keeping an eye on the Robinhood IPO, our latest notes are here. Now let’s talk about tech start-ups and private capital, starting with a few fintech updates.
- Upgrade loan startup embraces crypto: In 2019, TechCrunch took note of Upgrade, a consumer loan startup from LendingClub founder Renaud Laplanche. Today, the startup launched a credit card with bitcoin rewards. If you need a few more satoshis worth $ BTC and want to create some credit, this could be for you.
- Without code + Payments = When Then: WhenThen’s codeless payment service doesn’t have a hard time explaining itself to investors, its latest $ 6 million round says. Its service, TechCrunch reports, enables customers to “autonomously orchestrate, monitor, improve and manage all payments and customer payment transactions.” The no-code element probably means it’s a bit more user-friendly for non-developers. We rate this clear idea out of 10.
- $ 118 million more for managing business expenses: Here in the US, the corporate spending wars have Ramp vs. Airbase vs. Brex on the front lines. But that doesn’t mean the popular model of merging corporate cards and software to help businesses manage their overall fund distribution is fully understood. Especially in a global context. And now Spendesk has another 100 million euros in its own accounts to spend in the EU market. I wonder what service he will use to track these costs?
- Sequoia Capital India supports Outplay: The new $ 7.3 million investment will bolster the startup’s efforts to “help outgoing sales teams scale their campaigns.”
- Say hello to what may be the future of spreadsheets: Spreadsheet.com wants to reverse the idea of turning the use of spreadsheets into targeted applications. Instead, the startup wants to put apps in your spreadsheets. And its general release arrives in October.
- Australians want to help D2C brands break the Big Tech habit: Now with $ 5.3 million in new capital, Sydney-based Okendo wants to help “brands improve the quality of their first-party data and rely more on the pillars of technology advertising for acquisition. and customer engagement ”. If they succeed, hats off.
Closing our boot cover, a few final notes. Pangea has raised $ 68 million for its men’s personal care brands. It’s cool. But don’t confuse him with Providence, Rhode Island-based Pangea, a recent Y Combinator graduate who has some news coming up. More on this soon.
If you’d like to dive deeper into the latest business news books, the Equity team recently caught up with one of the authors of “The Cult of We” to discuss all things WeWork related.
These simple metrics will tell you if your startup is ready to scale
There is a temptation among start-ups to pretend the go-to-market strategy is fully operational. In reality, GTM is an austere numbers game, and even with a solid plan in place, it can be easily foiled by common issues like turf battles and poor communication.
Finding the fit with GTM is an important step for any startup that can include anything from expanding the engineering team to launching your first media buy. But how do you know when you’ve reached that magical moment?
“There are three things you need to consider: gross churn, magic number, and gross margin,” says Tae Hea Nahm, co-founder and CEO of Storm Ventures.
High churn means customers aren’t happy, low gross margins mean poor unit economics, and that so-called magic number?
“You can calculate it by taking the new ARR divided by your marketing and sales expenses,” according to Nahm. “But keep in mind that the magic number is a lagging indicator, and it may take you a few quarters to see a positive result.”
(Extra Crunch is our membership program, which helps founders and startup teams move forward. You can register here.)
Big Tech Inc.
- Do you remember Alexa? Amazon still wants you to build for it: Amazon’s voice assistant still wants developers to build for it, which they can do. To attract more love from developers, Amazon has released a host of new features for the service. Frankly, given the slow intelligence growth we’ve seen with Alexa, Siri, Cortana, and Google’s “OK Google” setup, we’re a little skeptical.
- Can Ford, Argo and Lyft make self-driving taxis work? Recall that Google’s Waymo taxi service exists and works, albeit in micro compared to the riding networks that Uber and Lyft offer. Now Ford, an auto company; Argo, a self-driving company; and Lyft, a ridesharing effort, “plan to launch up to 1,000 autonomous vehicles on Lyft’s ridesharing network in a number of cities over the next five years, starting with Miami and Austin.”
TechCrunch Experts: Growth Marketing
TechCrunch wants you to recommend growth marketers with expertise in SEO, social, content writing, and more! If you are a growth marketer, pass this survey on to your clients; we would like to know why they liked working with you.
If you’re curious about how these surveys shape our coverage, check out this interview Miranda Halpern conducted with Maya Moufarek, Founder of Marketing Cube: “Lessons from Maya Moufarek, Founder of Marketing Cube, for Customer-Focused Startups. “