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What’s up, Crunchers? Good to see you once more! We’re so glad to have you ever with us. It’s been a very busy day on the positioning right this moment, and Haje has been busy getting real grumpy at Tesla for not recording the automotive crash he was in right this moment. (He’s effective. Or at the very least, as effective as he was earlier than the automotive crash.) — Christine and Haje
The TechCrunch Prime 3
- Apparently the hacker’s LastPass wasn’t actually the final one: Two months after LastPass skilled a breach, we are actually studying extra about what the hackers acquired. Carly writes that the corporate’s proprietor, GoTo, says hackers stole prospects’ encrypted backups.
- If you happen to like the nice outside: Strava, the exercise monitoring and social neighborhood platform, acquired Fatmap, a 3D mapping platform for the nice outside, to make that subsequent hike a doozy, Paul experiences.
- What’s up with WhatApp: Ivan is following a growing story about WhatsApp releasing its native macOS shopper in public beta. He writes that “till now, Mac customers needed to depend on both WhatsApp for the online or its web-based WhatsApp shopper. Each are usually not perfect by way of efficiency or getting a full-featured expertise.”
Startups and VC
It’s a tricky time to be a richly priced firm that didn’t go public when the getting was good. Not solely are there fewer later-stage gamers with the sources and urge for food to assist such firms (e.g., SoftBank and Tiger World have pulled again dramatically), but in addition secondary buyers have even misplaced curiosity. No less than, that’s Connie’s learn of a brand new report, in her glorious article Opportunistic buyers are giving up on ageing pre-IPO firms.
Connie additionally reported that Cowboy Ventures closed two new funds totaling $260 million in capital commitments. The outfit garnered $140 million in commitments for its fourth flagship fund and one other $120 million for its first opportunity-type fund (its “Mustang Fund”).
And we’ve got 5 extra for you:
A VC’s perspective on deep tech fundraising in Q1 2023
Profitable deep tech startups and SaaS firms usually attain billion-dollar valuations in the identical timeframe.
“The median deep tech startup took $115 million and 5.2 years to grow to be a unicorn,” says Karthee Madasamy, managing associate at MFV Companions.
New firms on this sector raised round $600 million final yr, a steep decline from $800 million in 2021. However Madasamy says latest local weather regulation, automation and area are just some components stirring buyers’ curiosity throughout this downturn.
“Because it turns into more and more tough to comprehend huge exits within the years forward, the applied sciences inside deep tech which can be reworking whole industries provide among the solely paths to ’10x exits.’”
Three extra from the TC+ group:
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Large Tech Inc.
Promoting or renting a house comes with all kinds of enjoyable, together with having to vacate at a second’s discover and strangers strolling round your own home. If there might be a rainbow amid the rainstorm, it’s Zillow eager to make reserving a house tour for leases simpler. Enter its Calendly-like on the spot reserving characteristic that can be utilized with out having to get in touch with anybody. Ivan writes that the characteristic is already accessible for 1000’s of properties and can ultimately embrace the flexibility to decide on between a digital, in-person or self-guided tour.
Now right here’s 5 extra: