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Hello and welcome to the Daily Crunch of July 16, 2021. A PSA: Some of us at ClearTips spoke a few times this week about the funding rounds, covering them, and how startups can stand out. If this sounds like you, you can watch the chat here. OK, news time! – alex
ClearTips Top 3
- Blend is no longer startup: Banking tech Unicorn Blend went public this week. It is now worth $4 billion or more, more than its last private round. So don’t just look at the company as a startup, but as a private unicorn anymore. Blend’s software powers the mortgage option in other apps, making it a company you may not have heard of but used.
- Halla Raises $4.5M to Help You Guess What You’re Going to Eat: Buying groceries online is big business. Amazon is in it. This is the main sendoff of Instacart. And European grocery delivery services are raising a lot of money. Halla wants to help companies sell more goods by “using human behavior to drive shoppers to the foods they want, while discovering new ones when they shop online.”
- Rivian once again delays EV delivery: The global chip shortage — see our previous note about Intel — is visible in many places, with Rivian ramping up toward commercial production of its electric vehicles. Other issues are gripping the company, but this chip shortage is a real kettle of fish for companies of all shapes and sizes.
- Yummy wants to make Venezuela superapp: Then there’s Yummy, which just raised a $4 million round. It has big aspirations: ride-hailing, delivery and more. The SuperApp model may have been a pioneer in Asia, but it is going global. However, Yummy would need more than $4 million to make it. So if things go well, expect the company to regroup in short order.
From our recent Early Stage event, we have something new for you to enjoy: Cleo Capital’s Sarah Kunst explains how to get ready to raise your next round.
Outside co-founders detail how they expanded the sharing economy to RVs
Seven years ago, advertising executive Jen Young and tech entrepreneur Jeff Cavins stepped away from the careers they’d built to launch Outdoorsy, an RV rental marketplace.
Last month, they announced a partnership with high-end camping company Collective Retreats and raised a $90 million Series D and $40 million in debt to accelerate an already impressive rate of growth.
To learn more about their vision of creating a transportation company that caters to people craving a taste of nomadic existence, Rebecca Belan interviewed Young & Cavins for Extra Crunch.
Their conversation explored the effects of COVID-19, their business strategy, and why they decided to take on $30 million in debt financing:
Jeff Cavins: We like to look at macro trends as a business and I think US monetary policy is going to get us all in a little bit of trouble. So we wanted to lock in a credit facility for the company on advantageous terms.
(ExtraCrunch is our membership program, which helps founders and startup teams grow. You can sign up here.)
Big Tech Inc.
- FedEx invests $100 million in Delhi: First, we like the name for an Indian logistics startup. It is rumored to be going for an IPO this year. The deal underscores how important the Indian market is proving not only to its domestic investors and founders, but also to global brands.
- Paytm going public: Indian fintech giant Paytm has applied to go public. We’re including it in this part of the newsletter because, as we’ve reported, the private company “plans to raise up to $2.2 billion in an initial public offering.” it is too big, vast amount of money. It’s hard to call Paytm a startup when it’s raising some venture capital fund’ The value of capital at once.
- Tumblr’s parent company buys Pocket Casts: Automattic, known for WordPress and the rest of Tumblr’s owner, is buying the popular podcasting service Pocket Casts. It’s not impossible to see how a publishing platform can integrate with a podcasting service, yes?
To get us away from the world of Big Tech Backing Money, from this Connie Loizos: Traditional VCs turn to emerging managers for deal flow, and in some cases, new partners..
ClearTips Expert: Growth Marketing
We interviewed Kathleen Estrech, former of Intercom, Box, Facebook and Scalar, and Emily Kramer of Asana, Carta, and Astro (acquired by Slack) as part of ClearTips experts. we’re taking this conversation here Twitter Space Tuesday, July 20 at 5 p.m. EDT. Join Danny Crichton of ClearTips and the MKT1 team as they delve further into the growth marketing trends they’re seeing.