Saving-investing app Acorns files to go public in $2.2B SPAC deal – TechCrunch

Saving-investing app Acorns files to go public in $2.2B SPAC deal – ClearTips

Hello and welcome to the Daily Crunch for Thursday 27 May. From the home desk, ClearTips has some notes to share. First, we are hosting a virtual meetup in Pittsburgh looking at clean startup markets as part of our national tour. And if you are a super early-stage founder, you can still apply to participate in the upcoming battlefield competition upon dissolution. Do it It is going to be a blast. See you both! – Alex

Techcrunch top 3

  • Many people are working on NXT: Whether you are a fan of crypto or not, you must have heard about irreplaceable tokens or NXT. If you’ve already digested the NBA topshot promotion wave, then bow down, because there are still a lot of people building in the world of NXT. This includes Anima, which is bringing AR to NXT and Just raised new capital from Coinbase, And infinite objects, which Just raised $ 4 million to help people get their NFT IRL.
  • Europe examines American clouds: Here at the Daily Crunch, we have noted several governmental and technical stories in recent weeks, none of them positive. Today’s news is another note in that particular topic, in which Natasha Reporting that “Europe’s leading data protection regulator has launched two investigations into the use of cloud services by EU institutions from US cloud giants. “
  • A window into the economics of fintech: Today it was also reported that Acorn, an American consumer fintech company that helps regular people save and invest their money, is going public through a blank-check company. We Dug into its consequences, Learning that such fintech startups can create great businesses. It is expensive to do just that.

Startup and VC

We have our usual mix of funding rounds below, but first a note on diversity in the venture capital world. Collab Capital announced a $ 50 million fund to invest in Black Founders this week, which ClearTips covered here. And today we have written a development fund of about $ 250 million that will reserve half of its profits to donate to historically black colleges and universities. More of this, please.

Now, the hottest funding round of the day:

Breinify Raises $ 11M to Bring Data Science to Marketing: A good topic in technology has recently been bringing capabilities reserved for technically trained to teams of non-technical people. For example, sometimes no-code does this. According to ClearTips, Breinify is doing something related, named “working to apply data science to personalization, and doing it in a way that makes it more accessible for non-technical marketing employees to create a more meaningful customer experience.” . ” For the marketing team currently waiting for the engineering team to come back to them, this would prove to be more than welcome.

RevenueCat raised $ 40 million to help developers leverage in-app subscriptions: RevenueCat now has a huge new check at a valuation of $ 300 million, but more than that, it has changed its cost structure, offering different levels of service that are not priced on a per-head basis , But how much revenue a company is tracking at any given time point (on-demand pricing is hot). RevenueCat, you can do the math, has a 0.8% to 1.2% reduction in tracked revenue, depending on what kind of functionality the company needs. For anyone looking to build in-app subscriptions and looking for help, RevenueCat wants to be cheap and attractive to begin with as their customers scale.

And then there were robots: our own Brian heater A super great look at the world of robotics startups and their recent fundraising. TerraClear recently raised $ 25 million for its rock-picking-up tractor-robot. Bowery Farms recently raised $ 300 million as we noted here at the Daily Crunch, but we failed to mention “what kind of robots, sensors, and AI are a big part of.” [its] Vertical agricultural approach. ” very quiet.

Heater has more notes in the post, but the main thing is that not every robot comes from a strange place between Uncanny Valley and Boston Dynamics.

SaaS needs to extract a page from the crypto playbook

It seems like this is a good time to launch a SaaS startup, but the landscape is filled with well-designed applications that promise “wonderfully fast and pleasantly simple” experiences.

Most of these will fail, but not because of marketing campaigns or server downtime. In most cases, SaaS startups fall prey to seed-stage investor John Chen of Fika Ventures, known as the “myth of frictionless onboarding”.

Despite the hype, enterprise companies are always asking us to learn how to use new tools. “Like a new fitness program, participants feel good after completing a workout, but it takes a lot of active energy to start and work hard,” says Chen.

Instead of putting the responsibility up its sleeve to customers, SaaS startups should learn from the cryptocurrency culture and find ways to “encourage users to do the work necessary to get the right experience”.

(Extra Crunch is our membership program, which helps founders and startup teams move forward. You can sign up here.)

Big Tech Inc.

Today we are talking mostly about Twitter, but before Ford is going to win a share of the electric vehicle market? Two years ago I would have ridiculed this notion, but what it feels like amidst strong pre-orders for its electric pickup and a big bet on internal battery R&D is a question worth asking now.

On the Twitter front, there are two things to know. First of all, that Twitter is not taking the fire coming from the current Indian government. And, second, that Twitter’s product work has been at a much faster pace lately, which is more than welcome.

Regarding India, Manish Singh of ClearTips reports that “Twitter recently called the police visit to its Indian offices a form of intimidation and said it was related to certain requirements in New Delhi’s new IT regulations.” . ” good.

Here at the Daily Crunch, we called the case an attempt to intimidate, so it was nice to have the company clear as well. And fighting back. The Indian government’s push to censor Twitter smells of a CCP-style action on speech that the ruling regime considers too correct to read. Down with that kind of thinking.

On the product front, Twitter is bringing its clubhouse-competitive space product to desktop machines. Usually I omit such an incremental Twitter feature, but in this case it fits into the recent rapid-fire product rhythm from the social network, which was famous for years and years. Then something changed, allowing the company to ship all types of products and services. The company is moving towards some sort of email newsletter-subscription-audio-tipping product amalgamation that can prove to be very, very interesting for creators.

Who will be excited by Twitter’s Dev Team this year? This is a nice surprise.

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