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Hello and welcome to Daily Crunch on October 1st, 2021! What a week all of you. With the third quarter of 2021 now behind us, is it time to look forward to winning season, new VC data leaks, and what we hope – to pray? – is another IPO cycle before the end of the year. And since the holiday season starts in about 1.5 months, there aren’t any the still a lot of time. So make sure you read your friendly TechCrunch from the neighborhood. We’ll cover you. – Alex
The TechCrunch top 3
- Nigeria Can Suspend Twitter: After Twitter fails across the country, the Nigerian government can unblock social services if it meets certain conditions. Some were approved. Others seem less secure, like Twitter building an office in the country. We’ll see, but the Nigerian beef with Twitter is important as we’ve seen other nation-states oppose the service to varying degrees; China, for example, is doing this fully, while India is leaning towards the intimidating side of influence. In other Twitter messages, the company offers a professional coming-out service.
- Startups find money outside of venture circles: TechCrunch spends a lot of time tracking financial flows between startups and their venture entrepreneurs. But not all of the dollars and yen that go to startups come from selling equity. And the methods that startups can use to raise alternative funds are becoming more sophisticated. This is good news for emerging tech companies around the world. (More on the pace of capital flow into it Startups here.)
- Oyo files are published: Maybe the Q4 IPO cycle, as they say, will be illuminated? Oyo is jumping into the mix with at least one public offering that could raise more than $ 1 billion. TechCrunch has a look at the filing in the link; remember that Oyo is a SoftBank supported company that has had some growth issues over the past several years.
Startups / VC
- Megabucks for ghost kitchens: That’s a whole new sentence I think. Regardless, today’s news is that All Day Kitchens, which operates a network of ghost kitchens for smaller restaurants to use for delivery prep, has raised a round of $ 65 million. Exactly why dare Capital is the right choice here is a little opaque, but the new capital brings All Day Kitchens historic fundraising to more than $ 100 million, a figure that is impressive for the food sector.
- Smallerbucks for Influence Link: The influencer economy still seems to be going strong, and today new evidence comes in the form of a $ 1.67 million round from ProductWind. The startup “aims to connect brands with influencers with one click,” reports TechCrunch.
- DAOs, utopian thinking and you: The DAO space, or the market for decentralized autonomous organizations, is hot in that the technicians are thinking and talking about it. And it turns out that Utopia Labs donated $ 1.5 million to its infrastructure work for DAOs. DAOs are a mix of capitalism and democracy, suggesting a future where the two are in closer harmony. Hence “utopia” in the name. You will not find anything about utopia or aspirations in this newsletter. As Oscar Wilde said: “A world map without utopia is not worth looking at.”
- LeadIQ just landed a $ 30 million round for its sales software: LeadIQ helps sales reps save time by taking some of their memorized input and freeing those people to do more creative work. And the startup plans to better merge data from the sales and marketing teams, which the CEO believes could help drive sales.
- On the TechCrunch + side of things, we have posts from Disrupt covering our conversation with Reid Hoffman about lightning scaling, how startups can spend their newly raised capital (and what the hiring market is doing with waste!), And how to scale science.
Ben Rubin explains why the Web3 era of social media will help everyone get paid
Web3 is still taking shape, so it’s hard to define.
At TechCrunch Disrupt, Houseparty founder Ben Rubin emphasized decentralization as a central feature of Web3. In today’s Web 2.0, individuals give money and personal information to network operators in exchange for access to information.
“With Web3, there is a way – not to say that it will actually happen 100% – but there is a possibility that the network owns the network,” said Rubin. “And I think that’s the easiest and shortest way to explain it.”
Speaking to reporter Taylor Hatmaker, Rubin said that NFTs show that individuals can benefit from the adoption of Web3, while decentralized finance and cryptocurrency trading are more of a commercialized form.
“It won’t be perfect, but it will be a better incentive target than we have now. And that will create incentive customization competition with their users, ”said Rubin.
(TechCrunch + is our membership program that helps founders and startup teams move forward. Here you can sign up.)
Big Tech Inc.
- Blue Origin is a mess: It’s never a good week when your rocket company is hit with allegations of sexism (very bad) and unsafe technology (also very bad). And yet Jeff Bezos’ Blue Origin can be found here. The company is now in damage control mode. And we suspect missile QA mode.
- For you Apple heads out there, a bug in iOS 15 that messed up unlocking the watch is being fixed.
- Tech companies stand behind a stronger EU disinformation code: TechCrunch reports say Clubhouse and Vimeo are on a list of tech companies preparing to sign a refreshed version of the European Union’s Code of Conduct on Online Disinformation. Remarkable.
- In the end, the Zoom Five9 deal is dead: Why did it fail? A number of reasons, possibly including an offer price that is too low, sliding stock prices after the agreement, and antitrust and security concerns. Otherwise the transaction worked out great.
TechCrunch Experts: Growth Marketing
TechCrunch wants you to recommend growth marketers who have expertise in SEO, social media, content writing, and more! If you’re a growth marketer, share this survey with your customers. We’d love to know why they enjoyed working with you so much.
If you are curious how these surveys shape our reporting, read this interview with Anna Heim and Tuff: “Growth marketing is not a magic trick, says Ellen Jantsch von Tuff.”