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TechCrunch’s Top 3
- Brrr, it’s cold in here: Manish Softbank’s Masayoshi Son writes that the “winter of venture capital” will last a little longer. Less interestingly, WeWork, meanwhile, is known for pouring a lot of capital into companies. Alex TechCrunch+ comments on SoftBank’s vision fund losses
- Hook, line, but hopefully no sinkerTwilio confirmed that hackers gained unauthorized access to corporate login credentials by telling employees that their passwords had expired. Carly Reports.
- Another big private equity dealVista Equity Partners is to buy automated tax compliance company Avalaran in an all-cash deal valued at $8.4 billion. Paul He wrote. There have been some other big private equity deals this year, including Vista’s acquisition earlier this year and Thomas Bravo’s two acquisitions of Anaplan and Ping ID.
Startups and VCs
We had so many amazing things to publish over the weekend, it’s hard to choose what to feature here in The Old Letter of News.
We love today’s Equity Podcast, “How to Lose Money, SoftBank Edition.” RebeccaThe transportation and mobility roundup site was particularly good, breaking down what’s in the land of micromobility and more. (Also, her update earlier in the week had a lot more information on CyberTrac’s incoming calls.)
The collapse of Three Arrows Capital and its counterparties mired in crypto hedge fund troubles have led to questions about the validity of the upside digital asset investment space. For industry survivors, watching their competitors collapse overnight is a shocking experience. Bitmain co-founder welcomes crypto regulation to help stabilize things; Rita Reports.
- Entering South Korea secretlySingapore-based cryptocurrency platform Crypto.com has acquired two startups in South Korea for an undisclosed amount. Kate Reports.
- Geek+: All ur warehouse is ours.: Beijing-based warehouse robotics firm Geek+ has raised another $100 million in funding (the company calls it “Series E1,” whatever). Brian Reports.
- Truly an office-island fantasy: Kyle Kumospace has reportedly closed a $21 million Series A, a year after the company raised $3 million in a round to replace physical offices with virtual ones.
- Data in, data out.Equalum wants to help companies build their data pipeline and has closed a $14 million Series C round to help do just that. Kyle Reports.
- You can’t download a solar panel from the internet, right? The online-only home seller of solar bags promises $23 million at “very low prices.” Harry She writes in her new piece.
3 ways to optimize SaaS sales in a recession
“In a downturn, cash saved is worth more than cash earned,” says Bravado CEO Sahil Mansuri, which means SaaS sales strategies must go from driving growth to helping customers save money.
“If you frame your product as a way to increase revenue or reduce costs, people will get a budget.”
Mansuri, who started in software sales during the Great Recession, shares several strategies that SaaS startups can use to “adjust your approach, uncover unexpected opportunities, and focus on the money.”
(TechCrunch+ is our membership program, which helps founders and startup teams get ahead. You can register here..)
Big Tech Inc.
Google is taking Sonos to court again for patent infringement. Ivan Two new lawsuits “center around various patents related to keyword detection, charging using ‘Google-invented technologies’ and determining which speaker to respond to a keyword,” he wrote. Both companies have won against each other in previous lawsuits, so we’ll see who the court sides with this time.
If you take Lyft frequently, be prepared for more in-car advertising. The ride-hailing company has created a new digital advertising business, Lyft Media, that will put information in cars and promise to give a portion of the advertising revenue to drivers. Jacqueline Reports.
- “For the People and Back”In the realm of TechCrunch+, Ron As you read above, Ping Identity CEO Andre Durand talks about “long and strange startup journeys” after his company went public several years ago in an acquisition deal with Thomas Bravo.
- Maybe dry clean next time: Carly And Anita They team up to find out what happened to Tornado Cash, which is being sanctioned by the US Treasury after it was accused of hoarding stolen cryptocurrency.
- Not to play gamesNetflix isn’t getting any subscriber love in the mobile games department. Lauren Reports say less than 1% of Netflix subscribers want to play them.
- Get into my driverless carChinese Internet giant Baidu is preparing to deploy fully driverless commercial robotaxis in Wuhan and Chongqing after receiving approval. Rebecca Reports.
- Climate technology will change the worldSign up for the Emerging Tech Brew newsletter for free to stay up-to-date on changes in climate tech, AI and more.