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Hello and welcome to Daily Crunch for October 28, 2021. With our SaaS Now event behind us – a big thank you to TechCrunch events and the sales teams who continue to crush it for release – we can refocus our attention on, well, the metaverse? – Alexis
The Top 3 TechCrunch
- Facebook becomes meta: By creating a brand above its previous headquarters, Facebook created a meta-entity to include its various projects. And one of them is the metaverse. So the new name of the company – Meta – makes quite a bit of sense. Most people don’t seem to like it very much, but it’s hard to separate General Facebook Snark from Really About The Name Snark, if that makes sense. More in our Big Tech section below.
- NerdWallet writes its way to Unicorn Rating: As the NerdWallet online financial content empire nears public markets, the writing-centric company will earn a valuation north of $ 1 billion, according to its latest IPO filings. TechCrunch, a word-focused publication, reflected on the question.
- Facebook is crossed with Apple: Facebook – Meta, I guess – took some beating from Apple at its big event today. They are worth considering outside of the broader branding and VR efforts announced by the company. The evolution of Apple’s privacy rules has taken its toll on Facebook, and the social giant is not happy with it.
Startups / VC
Before we get into the startup news, the former Allbirds startup is going public, and TechCrunch has the details on what it’s worth. And, in the wake of Rent the Runway, we’re starting to see a valuation band created for tech-driven IPOs.
- Atlys wants to speed up visa applications: And he just raised $ 4.25 million for his work. Of course, there are fewer of us flying overseas, but eventually we will get on the plane and go elsewhere. And when we do, well, the paperwork will give you a sign. Maybe Atlys can avoid stapling pictures of yourself in a package that you then send to an embassy black hole.
- Soon we will all be living in pods: Prefabricated pods, if Cover gets what he wants. The startup creates walls and other similar household components in its factory. These pieces are then shipped to job sites and installed without a crane. Frankly, hope this works? We have a housing crisis in the United States, and any movement to alleviate it is welcome. The company also just raised $ 60 million.
- Interrupt’s plans to regain Internet privacy by raising capital: The deal is yet to be concluded, but TechCrunch announced today that Tim Berners-Lee’s startup Inrupt, a company that wants to create “a platform that gives users control over their data” online, seeks to raise between 30 and 40 million dollars. .
- What if Nextdoor was even more insular? Well, that’s what OneRoof is building, an even more hyperlocal Nextdoor, the social network known for bringing neighbors together so they can argue and slap each other racistically. Now you will be able to do this in even tighter circles. The company just raised $ 1.25 million.
- Healthcare remains a lucrative market: This is what we take away from Hinge Health which has raised $ 400 million in a new round. The company focuses on chronic musculoskeletal conditions (MSK), which encompasses things like back pain and knee pain. Considering the size of the U.S. healthcare market, the company’s $ 6.2 billion valuation may seem more logical than you think mentally.
- Alchemy Raises $ 250 Million In Competitive Round: Every venture capitalist is in awe of Amazon’s AWS group because it eats growth and pisses off operating profit. It is worth a billion dollars. It is perhaps not surprising then that the competition to invest capital in alchemy has been more than fierce. The company provides basic infrastructure for other crypto companies, and a handful of crypto companies you know are already Alchemy customers.
- Yugabyte throws a big joint venture to a value of Yuger: Yugabyte is now a unicorn, which sounds like a very 2021 phrase. The database company just added $ 188 million to its own financial database for a valuation of $ 1.3 billion.
- Dragos raises $ 200 million, skyrockets to a valuation of $ 1.7 billion, sadly it’s not about dragons: Dragos works in industrial cybersecurity, which matters. Keeping IRL infra safe is a big deal. But when I read the name of the company, I was frankly hoping for mythical beasts. Alas.
- And to close our opening notes, Neesha Tambe from TechCrunch has notes from a conversation with Sequoia regarding fundraising tips for today’s startups.
Credit and charge card companies vying for a share of BNPL’s growing market
Offering consumers the option to defer payment for a product isn’t a new idea, but now that startups like Klarna, Afterpay, and Affirm have taken the concept to the next level, credit card companies and existing payment companies are taking note.
Mary Ann Azevedo and Ryan Lawler identified a “slow emergence” in the BNPL space of “a symbiotic relationship between traditional financial institutions, newcomers and large corporations”.
Visa announced yesterday that many companies are using its technology to power BNPL point-of-sale solutions; last month, its rival launched Mastercard Payments, its tailor-made offering.
“It’s not much of a surprise that these credit card companies are stepping up their efforts when it comes to BNPL,” said Ryan and Mary Ann. “If anything, it’s a miracle it took them so long. “
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Big Tech Inc.
Before moving on to our Facebook News Roundup, Twitter also made a bit of noise today. Users will now be able to record Spaces, its audio chat rooms. And its “Blue” subscription service will include early access to features.
The rest of what Facebook announced:
And the rest of Big Tech:
- Dig into the majors attacking the BNPL market: While Affirm is best known as one of BNPL’s first startups to hit public markets, Big Finance won’t let technology have fun. Mary Ann and Ryan investigate.
- And in news that is sure to make other companies as happy as the privacy changes, Apple’s “App Privacy Report” is now in beta. Please note that the more Apple pisses other companies on data privacy, the better consumers can be – but also Apple only does it for its own bottom line, not because it likes us.
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