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Hello and welcome to Daily Crunch for September 20, 2021. It’s Disruption Week, everyone, and TechCrunch is in turmoil. Kicking off tomorrow morning, Disrupt should be a pretty kicking affair. Check out the agenda here, the speakers here, the Battlefield companies here, and if you want to see YH make his first (last round?) Nice tweets only, please.
See you tomorrow morning! – Alexis
The Top 3 TechCrunch
- Coinbase withdraws the loan product: The US cryptocurrency exchange Coinbase has decided to put its ‘Lend’ product on the back burner which would have provided a return to investors who stake their crypto assets. Why? The US regulator involved in these products views the creation as security and has said it will sue Coinbase if it launches the product. Coinbase CEO Brian Armstrong publicly argued that the SEC was stupid, which didn’t seem to help much. Perhaps somewhat sarcastic Twitter feeds aren’t the path to regulatory victory.
- IPOs galore: All right, folks who care about the liquidity of the public market, we have plenty of stories for you today. Here is who goes get rich through the IPO of GitLab, Here is a dig into the new pricing for Toast’s IPO, and here is a few comments on the increased IPO price of Freshworks. Enjoy!
- Europe wants Facebook to turn on its lights: Or at least Following to. Following Facebook’s announcement of the Ray-Ban glasses, Europe’s “main privacy regulator has raised concerns” about the hardware. The problem is the little light indicating that they are recording. Maybe a bigger light would be better. That or we could be in another cycle of Glasshole talk, which I’m sure we would all prefer to avoid.
Startups / VC
- You don’t need to go to space to image Earth: This is the lesson of Near Space Labs’ latest round of funding, an injection of $ 13 million. While several startups want to take a lot of commercial Earth photos from satellites (Albedo is one we’ve covered before), Near Space wants to use balloons that are just, well, close to space. . Reaching orbit is cheaper than ever, but definitely not cheap. Maybe this is the way to go?
- Fivetran lifts huge turn, buys smaller company: Tough corporate reporter Ron Miller covered that $ 565 million investment for TechCrunch, noting that Fivetran is now worth some $ 5.6 billion. The company is also spending $ 700 million for HVR, which Miller describes as a “data integration competitor that has raised over $ 50 million.” This last agreement is a mixture of cash and actions. Fivetran helps businesses move their data. Considering the sheer scale of data around the world, this is a big deal.
- Salesforce invests in Razorpay: As the Chinese startup investment market recedes, India continues to collect checks, the latest being an investment by Salesforce Ventures in Razorpay, a major fintech player in the Indian market, last assessed. to $ 3 billion. This deal doesn’t sound like a huge amount in dollar terms, but it does matter that Salesforce connects the Pacific.
- Video and photo editing is an industry: As companies like Picsart are lifting nine-figure towers, it might not be surprising to see the company behind Facetune and other editing apps lifting similar waist towers. In this case, the developer of Facetune Lightricks raised $ 130 million. The company “operates over a dozen subscription photo and video editing apps on iOS and Android,” TechCrunch reports.
- B2B fintech is trendy: Airwallex just got a funding round of $ 200 million at a valuation of $ 4 billion, which is remarkable not only for the dollars involved, but also due to the fact that the company is based in Australia. The Now-Multiple Unicorn offers integrated fintech services for other businesses, as well as business banking.
- A business marketplace sells part of its activity: That’s the news of Flippa, a marketplace where online businesses and digital assets can be bought and sold. The company just got a funding round of $ 11 million and, as part of that, released what must be the worst non-GAAP measure since community-adjusted EBITDA. TechCrunch writes that the company “sees over 600,000 monthly searches from investors looking to connect with business owners.” What I’m saying, gentlemen, are you so afraid to share real metrics that this are you gone
- In related news, this newsletter is the leading Internet missive that includes both ‘daily’ and ‘crackle’ in its header, giving us a pace of readership activation and conversion of our newsletter pipeline to. industry-leading reading.
- Cars24 raises $ 450 million in cash, debt: India’s used car market Cars24 is now worth $ 1.84 billion after raising $ 340 million in equity and $ 110 million in debt. It’s a healthy cycle for a company that has “sold 400,000 vehicles to date.” See? It is a really useful measure. Not unbelievably useful; a sales rate would be better than an absolute statistic, but still!
The next healthcare revolution will have AI at the center
In an excerpt from “AI 2041: ten visions for our future”, Author Kai-Fu Lee argues that recent advances in artificial intelligence are starting to transform healthcare.
Studies have shown that AI is as good as humans at diagnosing disease, but the pandemic has accelerated the digitization of patient records and data.
âOver the next few decades, we can expect medical diagnostics to evolve from an AI tool that provides options analysis to an AI assistant who recommends treatments,â Lee writes.
Lee identifies several areas where AI will improve outcomes in drug discovery, complex surgeries, and surveillance, but also examines potential issues, such as legal liabilities.
âAI healthcare isn’t just a market – it’s a tidal wave of transformations that will change the entire industry. “
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Big Tech Inc.
- Perhaps we have discovered this generation of mobile operating systems: TechCrunch’s dive into iOS 15 notes that the new mobile operating system has brought quality of life improvements and additional features to Apple’s own apps. This is what you must look forward to. Or, more specifically, you’ll update the new code, I think, and instantly forget you did. Such is the state of today’s mobile operating systems, which, along with smartphone hardware, seem to have reached a plateau of boring excellence. It’s time for a new paradigm to shake things up.
- Big Tech wins prizes your parents hold dear: How much stock are you putting in the Emmys? Do you really know what an Emmy is? I do not. But it turns out Netflix and Apple won some the other day. Good for them. It turns out that if you are among the richest companies in the history of the world, you are able to buy talent and shoot enough shots on goal to score points. Or in this case, ugly little trophies.
TechCrunch Experts: Growth Marketing
TechCrunch wants you to recommend growth marketers who have expertise in SEO, social, content writing, and more! If you are a growth marketer, skip this investigation with your customers; we would like to know why they liked working with you.
If you’re curious about how these surveys shape our coverage, check out this interview Anna Heim did with Ammo, âAustralian growth marketing agency Ammo helps startups calibrate their efforts. “