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Haje and I are swapping locations for the subsequent two days whereas he will get some much-needed relaxation. Whereas he’s away, please get pleasure from his newest Pitch Deck Teardown on Glambook. Within the meantime, TechCrunch Disrupt is coming nearer: Meet the ultimate 5 Disrupt Viewers Alternative roundtable winners, and if you’re a pupil, enter our video competitors for an opportunity to win a free move.
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See you tomorrow! — Christine
The TechCrunch Prime 3
- Tooling round: Two years in the past, two former Palantir engineers began Kurtosis, a crypto-focused developer instrument system, and have now raised $20 million in contemporary funding to rent a staff to get a brand new product out within the subsequent yr, Jacquelyn studies.
- Strapping on some capital: Argentine fintech Geopagos leaves the bootstrap life behind because it takes in $35 million in new capital to assist companies launch their very own monetary providers merchandise, Mary Ann writes.
- ‘Snap’ping into some share buybacks: Strikes by Snap and Airbnb to purchase again shares amid slower development has Alex elevating his eyebrows and looking out underneath the hood to see what’s happening.
Startups and VC
A lot of startup information once more immediately, so let’s dig in. First, Natasha M brings us some extra layoff information from On Deck, which is slicing one other third of its workers after slicing 1 / 4 a number of months in the past. For these of you who can add fractions, that’s rather a lot, proper?
We loved studying Becca’s investor survey story, the place she interviewed six first-time fund managers about their method to weathering the downturn.
Additionally, purchase now, pay later continues to be extra prevalent on the earth of customers (see Anita’s funding story on Halliday), however companies need in on the enjoyable, too. That’s the place Kontempo is available in with $30 million and its method to enabling gross sales groups to approve credit score, Kyle studies.
- An app a day retains the adverts away: Nobody likes pop-up adverts, and a brand new app, Banish, feels you, Sarah writes.
- Connecting content material to individuals: Clutch closed on some early-stage funding to match creators with companies that want content material, Dominic-Madori studies.
- Rill good: Rill, a enterprise dashboard instrument, talks for the primary time a few new spherical and its product that embeds database and on the spot consumer expertise, Ron writes.
- A proposal they couldn’t refuse: MiroBio, a startup creating therapies for autoimmune sufferers, accepted a proposal to be part of Gilead Sciences for $405 million, Paul studies.
From NDA to LOI: What actually occurs when your startup is being acquired?
Final week, VP and managing director of Dell Applied sciences Capital Yair Snir shared an article explaining why founders ought to plan on getting acquired, significantly since their odds of going public are so lengthy.
In a follow-up, he takes readers contained in the postacquisition integration interval/course of:
- The buying dash
- The highway to an LOI
- Bringing in bankers
- Diving into due diligence
- Defining “day one”
- You’ve been acquired!
“Whereas IPOs could get extra headlines, a well-timed, well-planned acquisition can imply even bigger alternatives for you, your staff and the applied sciences you’ve constructed,” says Snir.
(TechCrunch+ is our membership program, which helps founders and startup groups get forward. You may join right here.)
Huge Tech Inc.
In relation to cryptocurrency, BlackRock is now saying, “Why beat them when you possibly can be a part of them?” Anita writes in regards to the asset managing large becoming a member of forces with Coinbase to offer its purchasers with entry to crypto, initially Bitcoin. And talking of Coinbase, Jacquelyn and Alex write for TechCrunch+ on why that partnership, and others Coinbase has, is delighting traders.
Within the realm of social media, we loved Amanda’s story the place she spoke with Patreon CEO Jack Conte on why Instagram and Fb are on his checklist, and never in a great way. And Aisha tells us what’s up with some new Clubhouse options.
- Automotive speak: Volkswagen is gearing as much as roll out a less expensive model of its 2023 ID.4 later this yr, Kirsten writes. In the meantime, Rebecca brings us tales on UFODrive, a European electrical automobile rental startup, debuting in San Francisco, and what’s taking place with Lyft staff following some layoff information.
- Wally World layoffs: Inflation has even the most important of firms analyzing their budgets, and on this case, Ivan studies that Walmart cuts 200 company staff.
- Samsung in key of G: Ivan additionally writes about Samsung bringing Amazon Luna video games to its sensible TVs and screens, whereas Brian highlights what goodies Samsung would possibly announce at subsequent week’s Unpacked occasion.
- Streamers away: In immediately’s streaming information, Tage studies on Amazon Prime Video launching an area service in Nigeria, whereas Lauren writes about SoundCloud asserting some layoffs and Paramount+ having a great quarter when it comes to subscriber rely.
- Giving again, simply not in the best way they needed: Manish studies that the State Financial institution of Pakistan ordered fintech startup Tag to refund all funds to clients, “citing violation of regulatory necessities and ‘different considerations,’ posing existential questions on the startup’s future.”