Have you been running more since the epidemic started, or do you know someone who bought a new car? Perhaps you made your first mistake on a rented e-bike or scooter?
During the past year, I have experimented with various mobility options to see which ones fit my needs, as most people know. Maintaining recommended physical distances on a bus or metro can be challenging. (After a hiatus of over a decade, I also briefly considered the ranks of automobile owners!)
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It is getting used to doing something, but I now enjoy traveling to San Francisco on a scooter or e-bike. Before the epidemic, I was riding two-wheel vehicles in a city with a high rate of injury bumps, but there are fewer cars on the road than they used to be before.
COVID-19 has made headlines many of the weakest points in our transportation system, but some rapid changes in consumer behavior are creating opportunities for once-imagined technology, such as pavement delivery robots and eVTOLs (electric vertical and takeoff vehicles).
Transportation editor Kirsten Korosak reached out to more than 10 investors to learn “about the state of mobility” that they are most excited about their next investments and what they are looking for. “
Here is what he interviewed:
- Clara Brenner, Co-Founder and Managing Partner, Urban Innovation Fund
- Sean Carolan, Partner, Menlo Ventures
- Dave Clarke, Partner, Expa
- Abhijeet Ganguly, Senior Manager, Goodyear Ventures
- Rachel Holt, Co-Founder and General Partner, Construct Capital
- David Lawy, Founder and General Partner, Capital
- Sasha Ostojic, Operating Partner, Playground Global
- Sebastian Peck, Managing Director, Innovation Ventures
- Natalia Quento and Rachel Haat, Transit Innovation Partnership / Transit Tech Lab
Thanks so much for reading Extra Crunch this week!
Senior Editor, ClearTips
A fraction of Robinhood’s users are boosting its run
Yesterday’s House Financial Services Committee hearing on GameTop’s short squeeze saga was quite specific: Most lawmakers used their time for grandeur and little new information was revealed.
But Alex Wilhelm found a tidbit: most of Robinhood’s revenue is generated from payments for Order Flow (PFOF). Under practice, market makers pay trading platforms to execute trades.
To calculate how much Robinhood’s high rollers contribute to the company’s general health, he calculated his PFOF revenue for the last three months of 2020.
“Borrowing a term from the casino business, these whales generate the bulk of the company’s revenue flow.”
Why do SaaS companies accelerate usage-based pricing?
HubStop introduced usage-based pricing in 2011 to increase its retention rate, then closer to 70%.
When it went public after three years, its net revenue retention rate was close to 100%, “without harming the company’s ability to acquire all new customers.”
Offering free-onboarding, customer support and free credit to new users is a proven way to make them more active – and loyal.
So, why do usage-based pricing of SaaS firms grow faster?
“Because they are better at landing new customers, growing with them and keeping them as customers,” says Kyle Powar, VP of Development at OpenView.
Paying $ 115B for Stripe or $ 77B for Coinbase can be quite logical.
In October 2018, private-market money valued Coinbase at around $ 8 billion. As of this week, it is valued at $ 77 billion.
Similarly, Stripe is valued at $ 115 billion on secondary markets. In the middle of last year, the figure was close to $ 36 billion.
“Will I pay $ 77 billion for Coinbase?” Asked Alex. “Probably not, but that doesn’t mean there won’t be a public market.”
Epidemic-development and SPACs helping early startups to edit startups
Natasha Mascarenhas reports that some Edtech startups are stopping rides with special purpose acquisition vehicles to speed up their journey into public markets.
To find out more, he interviewed Susan Wolford, the $ 200 million SPAC Advice Acquisition, and Nerdy CEO Chuck Cohan. Nerdy, the parent company of Varsity Tutors, is going through a reverse merger with TPG Pace Tech Opportunities.
“It’s less about going into public markets and more about how this transaction allows us to take an aggressive position and lean into bigger opportunities,” Cohan said.
Dear Sophie: Tips for applying for a green card for my soon-to-be spouse
My fiance is in the US on an H-1B visa, which is about to expire in about a year and a half.
We were originally planning to get married last year, but both she and I want to have a ceremony and party with our families and friends, so we decided to stop until the epidemic ended. I am an American citizen and plan to sponsor my fiance for a green card.
How long does it take for a spouse to get a green card? Any suggestions you can share?
– Sweetheart in San Francisco
Inside the SPAC-led public debate of Rover and Manilion
When I saw Alex Wilhelm write about two more startups on Tuesday that were taking the SPAC route to the public markets, I wondered if we were covering special purpose acquisition companies very Repeatedly.
After reading his first sentence, I realized that Alex made the right call as the trend emerging in 2020 could turn into a real wave: This week, both pet e-commerce company Rover and fintech startup Manilaan announced That they are planning a SPAC-led debut.
On Monday, Alex covered the news that Ler Hippo Acquisition Corp and Khosla Ventures Acquisition Company I, II and III. S-1 filings filed last week.
“You’ll be surprised that every VC will have their own stack of SPAC offerings in the future,” says Alex.
Wrote Liar Hippo Acquisition Corp:
With our portfolio now maturing into a platform that many people are considering public markets, we consider SPX a natural next step in the development of our platform.
“If we’re not careful, every entry in this column may include SPAC news,” Alex writes.
From the dorm room to the board room: how universities are promoting entrepreneurship
Fifteen US-based institutions of higher education have joined forces to form University Technology Licensing Program LLC (UTLP).
The program makes it easy for entrepreneurs and investors to find IPs that can propel their companies, but is also an attempt to improve whether a participant is “somewhat broken in universities and among very large companies in the tech sector” Calls the interface. “
4 strategies for deep tech companies hiring top growth markets
Here are some real things for tech founders: If you find it frustrating to work with development experts and marketing professionals, the feeling is probably mutual.
“People with incomparable growth tend to be independent and creative and are prepared for an environment that clearly values these traits,” says Jessica Lee, a content / development professional who was previously a VC.
To land top talent, “demonstrate that you have a team structure where a development can further fit the market.”
9 Investors discuss barriers, opportunities and impact of cloud vendors in enterprise data lakes
Before my first cup of coffee this morning, I have already interacted with four different devices, transmitting details about my behavior to Data Lake.
Hopefully, the response I gave to an automated text while waiting for the kettle to boil will create a discount offer in my inbox later today. (And hopefully, the raw data I’m transmitting is properly protected and listed.)
Enterprise reporter Ron Miller interviewed nine investors to learn more about the lucrative data lake market:
- Caryn Marooney, General Partner, Coatue Management
- Dharmesh Thakkar, General Partner, Battery Ventures
- Casey Islander, Principal, Costano Ventures
- Derek Zanuto, General Partner, Capital G
- Naveen Chadha, Managing Director, Mayfield
- John Lehr, Co-Founder and General Partner, Work Bench
- Peter Wagner, founding partner, Wing Ventures
- Nicole Prell, Managing Director, Ibex Ventures
- Ilya Sukah, Partner, Matrix Partners
Aydin Senkut of Felicitas and Kevin Busk of Guideline on the value of simple pitch decks
When it comes to building a sustainable relationship between a founder and an investor, “trust starts in the pitch deck,” says Guideline CEO Kevin Busk.
Buske joined Xtra Crunch Live last week with Aydin Senku of Felicis Ventures to discuss how Seed Gol Senku refused to join – and Series B he led a short time later.
In keeping with our new format, the pair offered feedback on pitch decks presented by audience members. Read the highlights, or watch a video with the full conversation.