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Hello and welcome to Daily Crunch for July 30, 2021. What a week folks. It was packed with IPOs, earnings, startup news, and new hedge funds. And today was no exception. However, before we get into this, I am happy to report that Calendly CEO Tope Awotona arrives at Disrupt. It is also the last day for early bird passes, which are cheap. I see you there! – Alex
TechCrunch’s Top 3
- Elon vs. Tim Apple: Earnings season is often full of CEOs and other executives saying very little, usually boring stuff. This is because there are rules about what CEOs and other corporate leaders can say when their companies are public. Then there’s Elon Musk, who took a poorly veiled potshot at Apple during Tesla’s earnings call, then tweeted that Apple’s App Store cut is an internet tax. Game in.
- Why Robinhood went public: TechCrunch spoke with the company’s chief financial officer earlier this week about why this was the right time for the consumer commerce service to go public. Your answer? The company had done the work on executive talent, product work, safety, and it was done. We also investigated why the company’s debut has been a bit serious.
- Gopuff confirms a $ 100 million investment: The on-demand delivery business is now worth $ 15 billion after the last investment, meaning the so-called “instant” delivery space is now better funded than ever. Who put the capital? A large number of cross funds and other equity funds. This is a victory for SoftBank Vision Fund, mind.
Startups / VC
- A good day for startups that start with the letter “Y:” Remember Yik Yak? And yac? Me too? Well now keep your mind wrapped Yat, a startup that has sold tens of millions of dollars in strings of emoji that can represent your person or personality. I’d scoff at this, but I thought Bitmoji was dumb, so what do I know?
- Outvio closes a $ 3 million round for its white label fulfillment service: Hailing from the well-known Estonian startup hub, Outvio wants to build a SaaS business around its “white label compliance solution for medium and large online retailers in Spain and Estonia,” reports TechCrunch. Frankly, given how big the ecommerce game is getting, the idea behind Outvio comes as no surprise. Let’s see what you can do with your new capital.
- Let’s build things in space: That’s what we assume Varda Space threw when he was busy raising a $ 42 million Series A round. Why build things in space, which is difficult to reach? Microgravity. Varda wants to have her first space-based manufacturing facility set up by 2023. My inner sci-fi nerd is raving about it.
- Porter wants to create a PaaS offering to improve Kubernetes management: The YC graduate just raised $ 1.5 million to start his job. In short, the founding team liked technology like Kubernetes, but didn’t like managing it. So they created a tool to facilitate that work. Why Porter raised a 2012-era seed round is beyond us, but the company will surely be able to access more funding if things go well.
What’s the best way to grow your tech career? Treat it like an app
Many technical workers are not extremely career focused; On average, they are paid more than other startup employees, and the most talented often work on projects that interest them personally.
But the growing demand for talent is offset by a constant shortage: Companies can’t hire developers and engineers fast enough, even though many still don’t see themselves as workers in demand.
“To put it bluntly, many developers and engineers suck when it comes to managing their own careers,” says Raj Yavatkar, CTO at Juniper Networks.
Breaking out of traditional tech culture can be challenging, so Yavatkar recommends that developers and engineers “treat career advancement like a software project.”
(Extra Crunch is our membership program, helping founders and startup teams get ahead. You can sign up here.)
Big Tech Inc.
Fires, the moon and a European fine? We have it all for you today on our great tech watch list:
- 13 tons of Tesla batteries light up: Batteries sometimes catch fire. Samsung learned this back in the day. Tesla is the latest victim. A 13-ton Tesla Megapack caught fire in southeastern Australia recently, which made headlines. None was injured.
- Blue Origin will not get a lunar rover deal: After offering a deeply discounted project to the US government, Blue Origin will not get what it wanted after its application was rejected. A challenge to a SpaceX contract by Dynetics was also denied. Too much for that.
- The EU fines Amazon with its lunch money: The Luxembourg National Data Protection Commission, or CNPD, has assessed a gigantic fine worth 746 million euros in metrics, or 887 million dollars in stadiums per fortnight. Amazon was not satisfied with the fine derived from the GDPR. But still, the company generates tens of billions of dollars in operating cash flow each year. How much does this fine really hurt?
- Airtel Africa’s mobile money division raises another $ 200 million: As TechCrunch has pointed out, there are more and more capital flows into all things digital in Africa. And startups aren’t the only groups getting controls. The mobile money unit of African telecommunications company Airtel Africa has raised a lot of capital in recent weeks, including $ 200 million new from a subsidiary of the Qatar Investment Authority. Mastercard and TPG are also investors.
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