TechCrunch Master Template TechCrunch Newsletter
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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: Looking for a place to park it: Manish reports on 3one4 Capitalâs new $200 million fund, writing that while this is another Indian firm to raise a large fund, there are concerns that there arenât enough early-stage companies to take on significant capital. Legendary: NFT spinoff from newspaper SCMP gets funded to tokenize historical artifacts, writes Rita. On cloud nine: Antimetal now has $4.3 million in fresh capital to root out cloud cost inefficiencies, Ron reports. Taking on the open seas: Navierâs electric hydrofoiling boat is trying its luck over on the West Coast to line up its first pilot programs. Devin has more. |
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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: Strike!: Alex writes that tech workers could take labor lessons from Hollywoodâs writers. Kismet: Haje writes that to find the right investors for your startup, itâs about timing. Wind blows, fire burns: Becca looks into VC interest in wildfire tech. 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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Big Tech Inc. Hey, Twitter users, your follower count is about to drop, according to Elon Musk. Sarah reports that Twitter will purge old accounts that havenât tweeted in a while. The good news is that you might be able to get a better username, depending on which account it is. Happy hunting! Also in bird news, Ivan writes that the social media giant is discussing a cheaper organizational verification plan. We loved Connieâs story over the weekend about a New York Times reporterâs close encounters with Elizabeth Holmes, who, left to her own devices, apparently can still suck people in. And hereâs four more for you: Resuscitating: NextGen Healthcare confirms hackers accessed personal data of more than 1 million patients, Carly reports. Meanwhile, over at Western Digital, the company had to tell customers that hackers stole their data. Lorenzo has more. Alert!: Samsung is celebrating after receiving FDA clearance for its Irregular Heart Rhythm Notification feature for the Galaxy Watch, writes Aisha. âItâs lonely out in spaceâ: Virgin Galactic said it will make a triumphant return with a crewed flight at the end of May, Aria reports. Also check out her TC+ story on space startups. Switch-a-roo: Volkswagen is making some personnel changes at Cariad â again. Kirsten has more. |
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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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