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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 extremely busy day on the location in the present day, and Haje has been busy getting real grumpy at Tesla for not recording the automobile crash he was in in the present day. (He’s tremendous. Or no less than, as tremendous as he was earlier than the automobile crash.) — Christine and Haje
The TechCrunch High 3
- Apparently the hacker’s LastPass wasn’t actually the final one: Two months after LastPass skilled a breach, we at the moment are studying extra about what the hackers received. Carly writes that the corporate’s proprietor, GoTo, says hackers stole clients’ encrypted backups.
- If you happen to like the nice outdoor: Strava, the exercise monitoring and social neighborhood platform, acquired Fatmap, a 3D mapping platform for the nice outdoor, to make that subsequent hike a doozy, Paul stories.
- What’s up with WhatApp: Ivan is following a growing story about WhatsApp releasing its native macOS consumer in public beta. He writes that “till now, Mac customers needed to depend on both WhatsApp for the online or its web-based WhatsApp consumer. Each aren’t ideally suited when it comes to 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 sources and urge for food to assist such firms (e.g., SoftBank and Tiger World have pulled again dramatically), but additionally secondary buyers have even misplaced curiosity. At the very least, that’s Connie’s learn of a brand new report, in her glorious article Opportunistic buyers 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 now have 5 extra for you:
A VC’s perspective on deep tech fundraising in Q1 2023
Picture Credit: Xi Huo (opens in a brand new window) / Getty Photos
Profitable deep tech startups and SaaS firms typically attain billion-dollar valuations in the identical time-frame.
“The median deep tech startup took $115 million and 5.2 years to turn into a unicorn,” says Karthee Madasamy, managing accomplice at MFV Companions.
New firms on this sector raised round $600 million final yr, a steep decline from $800 million in 2021. However Madasamy says latest local weather regulation, automation and house are only a few components stirring buyers’ curiosity throughout this downturn.
“Because it turns into more and more tough to understand large exits within the years forward, the applied sciences inside deep tech which are remodeling total industries provide among 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 private home. If there may very well be a rainbow amid the rainstorm, it’s Zillow eager to make reserving a house tour for leases simpler. Enter its Calendly-like prompt reserving characteristic that can be utilized with out having to get involved with anybody. Ivan writes that the characteristic is already out there for hundreds of properties and can finally embody the flexibility to decide on between a digital, in-person or self-guided tour.
Now right here’s 5 extra:
