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Hello and welcome to Extra Crunch July 21st, 2021. It has been a good day for crypto fans, with the major coins seeing some recovery from recent lows. However, Bitcoin and Ether remain depressed on the seven-day time frame. And today the stock market is booming. What more can we ask for on Wednesday? Well, how about a big rush of startup and tech news? We can do that! – alex
ClearTips Top 3
- Clubhouse leaves beta: Clubhouse, the live-audio startup that wooed the technology world earlier this year, is out of beta. The move seems late given the work Twitter has done with its Spaces product, but everyone is welcome. The data indicates that Clubhouse is a significant tech market in India, as Daily Crunch discussed ad nauseam.
- Tumblr Pro goes: Feel like a comeback story? Tumblr certainly does. Thanks to a $1.3 billion deal as part of Yahoo, and the latter part of Verizon (and still the parent company of ClearTips’s parent company) after the company bought the online portal giant, it was able to call Automatic to sing a song. been sold. Now it wants to join the creator economy boom by allowing its users to set up paywalls. We’re here for it—the internet will be more fun with a healthy Tumblr in the mix.
- Byju’s comes to America: Indian edtech superstar Byju’s is coming to the US on the heels of his newly announced $500 million deal for Epic, which ClearTips describes as a “California-headquartered reading platform”. The edtech market is hot, which we have known for a long time. Duolingo’s IPO is also in the mix, as is a recent $24 million round for SoloLearn, a startup that wants to take the Duolingo model and apply it to learning to code.
Thanks to the supercharged venture capital cadence around the world, we have a lot to chat with from the startup world today. Above, in case you’ve been eyeing the Robinhood IPO, here are our latest notes. Now, let’s talk tech upstarts and private capital with some fintech updates.
- Lending Startup Upgrade Embraces Crypto: Back in 2019, ClearTips noticed a consumer loan startup upgrade from LendingClub founder Renaud Laplanche. Today the startup introduced a credit card with bitcoin rewards. If you need some more Satoshis worth of $BTC and want to build credit, this might be for you.
- no-code + payment = when then: Whenthen’s no-code payments service isn’t struggling to convince investors of itself, its latest $6 million round indicates. Its service, ClearTips reports, allows customers to “autonomously orchestrate, monitor, improve and manage all customer payments and payment ops.” The possibility of a no-code element means it’s a bit more friendly to non-developers. We give this idea a clean grade out of 10.
- $118M More for Corporate Spending Management: Here in America, ramps versus airbases versus brakes are on the front lines in the corporate spending war. But that doesn’t mean the popular model of fusing corporate cards and software to help companies manage the overall distribution of their funds has been fully explored. especially in the global context. And now Spendesk has a new €100 million in its own accounts to spend on the EU market. I wonder what service it will use to track those costs?
- Sequoia Capital India backs Outplay: The new $7.3 million investment will boost the startup’s efforts to “help outbound sales teams grow their campaigns.”
- Say hello to what could be the future of spreadsheets: Spreadsheet.com wants to turn the idea of using spreadsheets into targeted apps on its head. Instead, the startup wants to put apps in your spreadsheet. And its general release is happening in this October.
- Wants to help Australian D2C brands get used to Big Tech: Now flush with $5.3 million in new capital, Sydney-based Okendo seeks to “help brands enhance the quality of their first-party data and reduce their reliance on tech advertising kingpins for customer acquisition and engagement.” If they can manage it, salute.
Concluding our startup coverage, a few final notes. Pangea has raised $68 million for a men’s personal care brand. He is calm. But don’t mix it up with Providence, Rhode Island-based Pangea, a recent Y Combinator grad, which has some news coming in. More on that soon.
If you want a deeper dive into the latest in hot business books, the Equity team recently sat down with one of the authors of “The Cult of We” to chat all things WeWork.
These Simple Metrics Will Tell You If Your Startup Is Ready to Scale
There is a temptation inside early stage startups to claim that the strategy to go to market is fully operational. In fact, GTM is an obvious numbers game, and even with a solid plan, it can be easily thwarted by common problems like field battles and poor communication.
Finding a GTM fit is a milestone for any startup that can include anything from expanding the engineering team to launching your first media purchase. But how do you know you’ve reached that magical moment?
“You have to consider three metrics: gross churn rate, magic number, and gross margin,” says Tae Hee Nahm, co-founder and managing director of Storm Ventures.
High churn means customers aren’t happy, low gross margin means poor unit economics, and that so-called magic number?
According to Nahm, “You can calculate this by taking the new ARR divided by your marketing and sales spend.” “But keep in mind that the magic number is a backwards indicator, and it may take a few quarters for you to see positive results.”
(ExtraCrunch is our membership program, which helps founders and startup teams grow. You can sign up here.)
Big Tech Inc.
- Remember Alexa? Amazon still wants you to build for: Amazon’s voice assistant still wants developers to build for it, something they can do. To woo more developer love, Amazon released several new features for the service. Clearly, we’re slowly skeptical, given the slow pace of growth in intelligence we’ve experienced with Alexa, Siri, Cortana, and Google’s “Ok Google” setup.
- Can Ford, Argo and Lyft Self-Driving Taxis Work? Remember that Google’s Waymo taxi service both exists and operates, though compared to the riding networks of Uber and Lyft in the Micro. now Ford, a car company; Argo, a self-driving concern; And Lyft, a ride-hailing effort, “plans to launch 1,000 self-driving vehicles on Lyft’s ride-hailing network in multiple cities over the next five years, starting with Miami and Austin.”
ClearTips Expert: Growth Marketing
ClearTips wants you to recommend growth marketers who have expertise in SEO, social, content writing and more! If you are a growth marketer, pass this survey to your customers; We’d love to hear about why they liked working with you.
If you’re curious about how these surveys are shaping our coverage, check out this interview Miranda Halpern did with MarketingCube founder Maya Moufarek: “With MarketingCube founder Maya Moufarek’s customer-focused startup Lessons for.”