|
Hello and welcome to this 109th day of 2022 â April 19 â which celebrates, among other things, National Garlic Day (nice try, Big Allium) and Bicycle Day, the anniversary of the discovery of LSD. Speaking of blasting off into space, check out Ariaâs awesome Max Q newsletter, which collects all things space exploration on TechCrunch! Hasta mañana – Christine and Haje |
| Image Credits: Bryce Durbin/TechCrunch |
|
|
The TechCrunch Top 3 - Better.com times are not ahead: Weâre back with another installment of âWhatâs happening over at Better.com?â From our previous episodes, you might remember that the digital mortgage company began performing layoffs in December, and not in the most empathetic of ways. Today, further decline in the mortgage market prompted Better to execute yet another round of layoffs in less than five months, cutting its original headcount in half. Whatâs different this time? Employees will receive âone-on-oneâ phone calls instead of learning about it on a Zoom call or via a paycheck.
- Brex wastes no time in going after what it wants: In other news from the fabulous Mary Ann, Brex took no time after saying it was getting into software before announcing its first splash with the acquisition of Pry Financials. Mary Ann calls paying $90 million for a 10-person company that only raised $4 million over its lifespan âa bold move,â yet with the number of customers it has in common, also seems like a good fit.
- What am I worth, part 1: Thatâs a difficult question right now as the market makes corrections and companies make their own corrections vis a vis their valuations. Alex looks at Databricks, a company perhaps on the cusp of going public, and opines about what it might mean if itâs worth less today than it was in 2021, and comes to the conclusion that an IPO can wait. You can read more about what startups are worth in the TechCrunch+ section below.
|
|
|
|
|
|
Farmers don’t get embarrassed when the price of the corn drops; similarly, there’s no reason for startup founders to lose their joy because publicly traded tech stocks are taking a haircut. Accepting a down round or a smaller seed check isn’t a sign of failure â as it says in the Bible: The rain falls on the just, and the unjust. “While the market has quickly turned to favor the buyers, the good news is that it isnât broken,” according to Jeremy Abelson and Jacob Sonnenberg of Irving Investors. In a TC+ guest post, they share a calculator for using growth metrics and public market valuations that can help founding teams âtriangulate to a more company-specific enterprise value.â The numbers don’t lie â for all but a few strong contenders, the IPO window is now closed. But if you have an idea for a product or service that might be valuable to others, spending your days working for someone else is a questionable choice, no matter what’s happening in the stock market. (TechCrunch+ is our membership program, which helps founders and startup teams get ahead. You can sign up here.) Read More |
| Image Credits: underworld111 / Getty Images |
|
|
|
|
Newest Jobs from Crunchboard | |
|
|
|
|