To get TechCrunch’s biggest and most important stories delivered to your inbox every day at 3pm PDT; Register here.
came And I’m switching places for the next couple of days while he gets some much-needed rest. While he’s away, please enjoy the latest Pitch Deck Teardown on Glambook. In the meantime, TechCrunch Disrupt is coming up: Meet the final five Audience Choice Roundtable winners, and if you’re a student, enter the video contest for a chance to win a free pass.
And don’t forget, applications close tomorrow for Startup Battlefield 200! Apply today to join the Startup Battlefield 200 for a chance to showcase your startup for free and win a $100,000 equity-free prize at TechCrunch Disrupt this October. Applications close August 5. Make sure you submit your application by tomorrow. Apply today.
see you soon! – Christine
TechCrunch’s Top 3
- Use around: Two years ago, two former Palantir engineers started Kurtosis, a crypto-based developer tool system, and now they have raised $20 million in new funding to hire a team to develop a new product next year. Jacqueline Reports.
- Bend over some capital: Argentinian fintech Geopagos is leaving the bootstrap life behind as it takes $35 million in new capital to help businesses launch their own financial services products. Mary Ann He wrote.
- Entering into some stock purchasesIt moves to buy shares in Snap and Airbnb amid slow growth Alex He raised an eyebrow to see what was going on, looking under the hood.
Startups and VCs
Lots of startup news again today, so let’s dive in. first, Natasha M After a quarter of a few months ago, On Deck brings us some more layoff news from On Deck, which is cutting another third of its workforce. That’s a lot for adding fractions, isn’t it?
We enjoy reading. BeccaAn Investor Survey story, in which she interviews six first-time fund managers about their approach to dealing with the downturn.
Also, buy now, pay later is still prevalent in the consumer world (see AnitaThe funding story on Halliday), but businesses are also interested in having fun. That’s where Kontempo comes in at $30 million and its approach to enabling sales teams to approve credit. Kyle Reports.
- One app per day will remove the adsNo one likes pop-up ads and a new app ban you feel Sarah He wrote.
- Connecting content with peopleClutch closed with some early stage funding to match creators with businesses that need content; Dominic Madori Reports.
- niceThe real business dashboard tool talks about a new round and the information and fast user experience for the first time Ron He wrote.
- They could not refuse: MiroBio, which is developing treatments for autoimmune patients, has accepted an offer to become part of Gilead Sciences for $405 million. Paul Reports.
From NDA to LOI: What happens when your startup is acquired?
Last week, Dell Technologies VP and Managing Director of Capital Yair Sneer shared an article explaining why founders should plan to acquire, especially since the odds of going public are so long.
In follow-up, he takes readers through the post-discovery integration period/process:
- Speed of purchase
- Path to LOI
- Bringing in bankers
- Dive into due diligence
- Define “one day”.
- You are bought!
“While IPOs can get a lot of headlines, a well-timed and well-planned acquisition can represent huge opportunities for you, your team, and the technologies you’ve built,” says Snir.
(TechCrunch+ is our membership program, which helps founders and startup teams get ahead. You can register here..)
Big Tech Inc.
When it comes to cryptocurrency, BlackRock now asks, “Why beat them when you can join them?” He is saying. Anita He writes about the asset management giant joining forces with Coinbase to give its customers access to the crypto-first Bitcoin. And speaking of Coinbase, Jacqueline And Alex Write to TechCrunch+ why that partnership and others Coinbase has are exciting investors.
In social networks, we are happy AmandaHere’s her talk with Patreon CEO Jack Conte about why Instagram and Facebook are on his list, and not in a good way. And Aisha He tells us what’s up with some of the new clubhouse features.
- Car talk: Volkswagen is planning to release a cheaper version of the 2023 ID 4 later this year. Kirsten He wrote. Meanwhile, Rebecca At UFODrive, a European electric vehicle rental startup, it brings us stories of what’s happening to Lyft workers as it launches in San Francisco, and following some news of layoffs.
- Wally World layoff: There is a large number of companies that analyze their budget for inflation, and in this case Ivan Walmart has reported that it will cut 200 corporate employees.
- Samsung in G: Ivan He also wrote that Samsung will bring Amazon Luna games to its smart TVs and displays Brian Samsung will highlight the goodies it will be introducing at next week’s Unpacked event.
- Streams awayIn the news released today take up Amazon Prime Video has reported the launch of local service in Nigeria, while Lauren He wrote about SoundCloud announcing some layoffs and Paramount+ having a good quarter in terms of subscriber growth.
- Return, just not the way they want: Manish The State Bank of Pakistan has reportedly ordered fintech startup Tag to return all funds to customers, citing “violations of regulatory requirements and other concerns, raising existential questions over the startup’s future.”