Acorns backup and investment app to go public in $ 2.2 billion PSPC deal – TechCrunch
Hello and welcome to Daily Crunch for Thursday May 27th. From the reception desk, TechCrunch has a few notes to share. First, we’re hosting a virtual meetup in Pittsburgh as part of our nationwide tour highlighting startup markets. And if you are a very early founder, you can always apply to enter the next Battlefield contest in Disrupt. Do it. It’s going to be awesome. See you at both! – Alex
TechCrunch’s top 3
- A lot of people are working on NFTs: Whether you’re a crypto fan or not, you’ve heard of non-fungible tokens, or NFTs. If you’ve ever digested the wave of NBA TopShot hype, buckle up, because a lot of people are still building in the NFT world. This includes Anima, which brings AR to NFTs and just raised new capital from Coinbase, and infinite objects, which just raised $ 6 million to help people bring their NFT IRL.
- Europe probes the American clouds: Here at Daily Crunch, we’ve noticed a number of government and tech stories in recent weeks, none of them positive. Today’s news is another note in this particular theme, with Natasha indicating that “The main European data protection regulator has opened two investigations into the use by the European institutions of the cloud services of the American cloud giants. “
- A window on the fintech economy: The news from Acorns, an American consumer financial technology company that helps ordinary people save and invest their money, was also released today via a blank check company. We dug in its results, by learning that such fintech startups can create large companies. It’s just expensive to do it.
Startups and VC
We have our usual mix of fundraising cycles below, but first a note on diversity in the venture capital world. Collab Capital this week announced a $ 50 million fund to invest in black founders, which TechCrunch has covered here. And today we talked about a $ 250 million growth fund that will set aside half of its profits for donations to historically black colleges and universities. More of this, please.
Now for the hottest fundraising rounds of the day:
Breinify Raises $ 11 Million to Bring Data Science to Marketing: A good theme of technology recently has been to bring capabilities previously reserved for trained technicians to teams of non-technical people. No-code sometimes does, for example. Breinify does something related, namely “working to apply data science to personalization, and doing it in a way that makes it accessible to non-technical marketers to create more meaningful customer experiences,” according to TechCrunch. For the marketing teams currently stuck waiting for the response from the engineering team, this will prove more than welcome.
RevenueCat Raises $ 40 Million to Help Developers Leverage Integrated Subscriptions: RevenueCat now has a huge new check worth $ 300 million, but more than that, it has changed its cost structure, offering different levels of service that are priced not on a per capita basis, but based on the turnover followed by a company. at some point (on-demand pricing is hot). RevenueCat, you can calculate, costs 0.8% to 1.2% off tracked revenue, depending on what kind of functionality a business needs. For anyone creating integrated subscriptions and looking for help, RevenueCat wants to be cheap to start with and lucrative as its customers scale.
And then there were robots: Our own Brian Heater has compiled a great look at the world of robotics startups and their recent fundraiser. TerraClear recently raised $ 25 million for its rock collecting robot tractor. Bowery Farms recently raised $ 300 million, as we noted here at The Daily Crunch, but we haven’t mentioned how “robots, sensors, and AI are a big part of [its] vertical agricultural approach. ” Very cool.
Heater has more notes in the posts, but the main takeaway is that not all bots come from the weird place between Uncanny Valley and Boston Dynamics.
SaaS must remove a page from the crypto reading book
It seems like the perfect time to launch a SaaS startup, but the landscape is teeming with well-designed apps that promise “blazingly fast and deliciously simple” experiences.
Most of them will fail, but not because of a marketing campaign or server downtime. In most cases, SaaS startups fall victim to what early stage investor John Chen of Fika Ventures calls “the frictionless integration myth.”
Despite the hype, companies always ask us to learn how to use new tools. “Just like with a new fitness program, participants feel great after they finish training, but it takes a lot of activation energy to get started and hard work to get there,” Chen says.
Instead of putting the onus on customers to roll up their sleeves, SaaS startups should learn about the culture of cryptocurrency and find ways to “get people to do the work they need to have the right experience.”
(Extra Crunch is our membership program, which helps founders and startup teams move forward. You can register here.)
Big Tech Inc.
Today we are mainly talking about Twitter, but before we do, is Ford on the verge of gaining some of the electric vehicle market? Two years ago I would have scoffed at the idea, but between what looks like strong pre-orders for its electric pickup and a huge gamble on internal battery R&D, it’s now a question that deserves to be. to be asked.
On the Twitter front, there are two things to know. First, Twitter is not catching fire from the current sitting Indian government. And, secondly, Twitter’s product work has been pretty quick lately, which is more than welcome.
Regarding India, TechCrunch’s Manish Singh reports that “Twitter called the recent police visit to its Indian offices a form of intimidation and expressed concern about some of the requirements of New Delhi’s new IT rules. . Good.
Here at Daily Crunch, we’ve branded the case as attempted bullying, so it’s nice to see the company asserting the obvious as well. And retaliate. Pressure from the Indian government to censor Twitter looks like a CCP-style crackdown on speeches the ruling regime deems too true to read. Down with that kind of thinking.
On the product front, Twitter is rolling out its Clubhouse competitor Spaces product to desktop computers. Normally I would skip such an incremental Twitter feature, but in this case, it’s part of the social network’s recent fast-firing product cadence, which was known to be slow for years and years. Then something changed, allowing the company to ship all kinds of products and services. The company is even moving towards some kind of newsletter-subscription-audio-tip email product merger that could prove to be very, very interesting for creators.
Who expected to be excited about the Twitter development team this year? It’s a nice surprise.
TechCrunch Experts: Email Marketing
TechCrunch Experts continues to collect survey responses to help us identify the best tech email marketers!
At this time, we are not looking for self-nominations – we are only looking for applications from clients. We want to hear all about your experience and how you found the right expert for your needs. Complete the survey here.
We are delighted to move this project forward. Visit techcrunch.com/experts to find out more!