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Hello, and welcome to a new week. Haje is off today, so itâs just me and you going through the dayâs biggest stories. Letâs hit it! â Christine |
| Image Credits: Richard Drury / Getty Images |
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The TechCrunch Top 3 - Price cut in aisle five: Invesco cuts Indian food delivery giant Swiggyâs valuation to $5.5 billion. In October, the valuation was cut to $8 billion. Manish writes, âThe recent valuation reductions bring a fresh perspective to the effects of waning global market conditions on Indian startupsâ; where funding was down, valuations didnât follow.
- Bet paid off: Qualcomm acquires Autotalks, reportedly for $350 million to $400 million, to boost Snapdragonâs automotive safety technology. Ingrid writes that this deal didnât come as much of a surprise, noting, âIn the world of advanced automotive technology, safety has become one of the most important issues, but also one of the most lucrative opportunities, in the building of autonomous and driver-assisted systems.â
- Donât blink or youâll miss it: Ingrid also wrote about Go1, which acquired Blinkist, a speed reading app, with plans to expand enterprise learning.
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Startups and VC When my husband and I bought our first house, we were eager to see builders break ground and get it built. Months later, we were still waiting in what the builder said was a municipality holdup â aka, permits werenât being issued fast enough. After reporting on PermitFlowâs new $5.5 million round, I now know why this is a problem. Meanwhile, Natasha M spoke to Mayfieldâs Navin Chaddha about the VC firmâs new $955 million fund, writing that now that the firm is bigger â and busierâ âthe capital will be used to ramp up the firmâs investment cadence in a more realistic market. Chaddha also admits that Mayfield has missed out on a lot of opportunities because of high valuations, but that heâs okay with it.â Now hereâs four more for you: |
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Are you a seed-stage founder whoâs building a unicorn? NFX founding partner James Currier would like to save you some time: Startups that grow into billion-dollar companies have three basic forms of defensibility: - Network effects: Your product becomes more valuable as more people use it.
- Embedding: Integrate your services so deeply, customers âcannot rip them out.â
- Data loops: Gather, process and act on real-time data.
âThis is really only talking about world-changing, big-ass businesses with a lot of impact that could be a billion dollars or more in value,â he said at TechCrunch Early Stage last month. Three more from the TC+ team: TechCrunch+ is our membership program that helps founders and startup teams get ahead of the pack. You can sign up here. Use code âDCâ for a 15% discount on an annual subscription! Read More |
| Image Credits: Haje Kamps / TechCrunch |
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Get your TechCrunch fix IRL. Join us at Disrupt 2023 in San Francisco this September to immerse yourself in all things startup. From headline interviews to intimate roundtables to a jam-packed startup expo floor, thereâs something for everyone at Disrupt. Save up to $800 when you buy your pass now through May 15, and save 15% on top of that with promo code DC. Learn more. |
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