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Happy April 20, 2022, which has no special meaning and we’re not kidding. It’s been a strange news day, but never fear, we’ve got some great stories to go. Today’s Equity podcast is good, with alexander and Natasha discuss startup myths and assumptions.
Do not forget this Found, the TechCrunch podcast where founders talk about the stories behind their startups, was nominated for a Webby for Best Technology Podcast. We need your help with some votes, so cast yours today – voting ends tomorrow!
Car enthusiasts and those who like to talk about all things movement, it’s time to book your tickets for next month’s TC sessions: Mobility 2022. Waymo co-CEO Dmitry Dolgov will join us for a fireside chat. There is something for everyone, even for university students with good mobility ideas. And while you’re getting tickets, grab one for October’s TechCrunch Disrupt.
TechCrunch’s top 3
- NFT Buyers Unite!: Coinbase’s long-awaited NFT market has launched in beta form for those who enjoy trading digital collectibles. The company aims to make it a “web3 social market”. Get all the buys and sells you can before Coinbase starts charging transaction fees. And watch for future collectible drops.
- If You Thought The Flutterwave Drama Was Over, You’d Be Wrong: Earlier this month, Tags brought to you the story of a former Flutterwave employee accusing CEO Olugbenga ‘GB’ Agboola of bullying and harassment. Well, in the wee hours of the morning, Tage told the story based on an employee email obtained by TechCrunch. In it, Agboola addresses the sexual harassment allegations and explains how he originally started the business. However, we note that there are still a few unresolved issues, such as accusations of fraudulent activity. Get the broom. it’s a mess!
- Bringing beauty salons into the digital age: The beauty industry isn’t often one of the VCs that flocks in, which is why it’s great to see a company like Colombia-based Morado, a digital beauty marketplace providing shows all the gadgets and gadgets needed to operate, attracting the attention of some big names like Tiger Global, a16z and H2O Capital.
Startups and VCs
Love them or hate them, NFTs are all the rage, and a small subset of people are making money in the process. In a TC+ analysis, Jacqueline wonders how the market will survive the volatility and outlier driven market dynamics. Fascinating and well worth a read (and a TC+ subscription, if you haven’t given our subscriber team the $50 annual subscription tokens yet).
In yesterday’s Daily Crunch, we listed a firehose of new funds. A day later (how dare they not jump on our entirely arbitrary bandwagon), AWS announced a $30 million fund specifically for minority founders.
Meanwhile, in the most life-imitates-art (You look“Silicon Valley”) story I wrote for TechCrunch To date, the SoLoMoCo (Social Local Mobile Commerce) app Tulu has raised a massive amount of money to bring the sharing economy to your building.
After? You want more? I’ve had :
Study the basics of churn to set customer and revenue benchmarks
Whether it’s a neighborhood gym or a SaaS decacorn, every business that relies on recurring revenue keeps a close eye on its churn rate.
Churn “is complex and confusing,” says Sid Jain, principal analyst at ChartMogul, but for startups it’s one of the few real-time metrics that can help founders conduct experiments. and get feedback quickly.
Jain explains the differences between customer churn and revenue churn, shares formulas for calculating referrals, and answers the question, “What’s a good monthly churn?”
If you’re starting to think about recurring income, or know someone who does, please read and share.
(TechCrunch+ is our membership program, which helps founders and startup teams grow. You can join here.)
Big Tech inc.
- Netflix got everyone buzzing today, and not because it’s April 20th. No, the company is cracking down on account sharing and is also considering an ad-supported plan. The only reason to subscribe to Netflix is that it does not contain any advertisements. Yes, yes for the content, because otherwise we wouldn’t know why “Shake” should have read the fine print “Love is Blind,” but it was refreshing to watch an entire season of “Emily in Paris” uninterrupted.
- Across the pond, the UK has announced a package of reforms to how it will handle consumer protection and competition, mostly targeting fake reviews and killer acquisitions. This will make it illegal to pay people to write a fake review, and platforms that fail to address them could be fined up to 10% of their annual global revenue. Also, the European Union is working to standardize the way mobile gadgets are charged.
- Apple had a few things going on today, including welcoming Ace Hardware as a new cashback partner. Apple launches DJ mixes in spatial audio with Dolby Atmos on Apple Music.
- IBM’s first quarter earnings look good.
- Searches for cities on Google will now come with air quality information.