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What’s up, Crunchers? Good to see you once more! We’re so glad to have you ever with us. It’s been a very busy day on the positioning in the present day, and Haje has been busy getting actual grumpy at Tesla for not recording the automobile crash he was in in the present day. (He’s tremendous. Or at the very least, as tremendous as he was earlier than the automobile crash.) — Christine and Haje
The TechCrunch Prime 3
- Apparently the hacker’s LastPass wasn’t really the final one: Two months after LastPass skilled a breach, we are actually studying extra about what the hackers obtained. Carly writes that the corporate’s proprietor, GoTo, says hackers stole prospects’ encrypted backups.
- If you happen to like the good open air: Strava, the exercise monitoring and social neighborhood platform, acquired Fatmap, a 3D mapping platform for the good open air, to make that subsequent hike a doozy, Paul experiences.
- What’s up with WhatApp: Ivan is following a growing story about WhatsApp releasing its native macOS shopper in public beta. He writes that “till now, Mac customers needed to depend on both WhatsApp for the net or its web-based WhatsApp shopper. Each are usually not preferrred by way of efficiency or getting a full-featured expertise.”
Startups and VC
It’s a tricky time to be a richly priced firm that didn’t go public when the getting was good. Not solely are there fewer later-stage gamers with the assets and urge for food to help such firms (e.g., SoftBank and Tiger World have pulled again dramatically), but in addition secondary traders have even misplaced curiosity. No less than, that’s Connie’s learn of a brand new report, in her wonderful article Opportunistic traders are giving up on getting old pre-IPO firms.
Connie additionally reported that Cowboy Ventures closed two new funds totaling $260 million in capital commitments. The outfit garnered $140 million in commitments for its fourth flagship fund and one other $120 million for its first opportunity-type fund (its “Mustang Fund”).
And we have now 5 extra for you:
A VC’s perspective on deep tech fundraising in Q1 2023
Profitable deep tech startups and SaaS firms typically attain billion-dollar valuations in the identical timeframe.
“The median deep tech startup took $115 million and 5.2 years to develop into a unicorn,” says Karthee Madasamy, managing companion at MFV Companions.
New firms on this sector raised round $600 million final 12 months, a steep decline from $800 million in 2021. However Madasamy says current local weather regulation, automation and house are just some components stirring traders’ curiosity throughout this downturn.
“Because it turns into more and more tough to appreciate huge exits within the years forward, the applied sciences inside deep tech which are remodeling complete industries supply a number of the solely paths to ’10x exits.’”
Three extra from the TC+ crew:
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Massive Tech Inc.
Promoting or renting a house comes with all types of enjoyable, together with having to vacate at a second’s discover and strangers strolling round your house. If there could possibly be a rainbow amid the rainstorm, it’s Zillow eager to make reserving a house tour for leases simpler. Enter its Calendly-like on the spot reserving characteristic that can be utilized with out having to get in touch with anybody. Ivan writes that the characteristic is already accessible for 1000’s of properties and can ultimately embody the power to decide on between a digital, in-person or self-guided tour.
Now right here’s 5 extra: