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Hello and welcome to Daily Crunch for September 14, 2021. It was Apple Internet Day, so we all spent the afternoon trying to figure out if we need a new smartphone. Answer? Probably not, but that won’t stop a good chunk of the TechCrunch team from rolling out new Yahoo benefits in Cupertino’s market capitalization. We love these things.
On the TechCrunch front, Disrupt is in a week weather. Your humble servant is going shopping this afternoon so that he can look a little less scruffy. Jordan, of course, will look brilliant on Disrupt desktop. I see you there! – Alex
TechCrunch’s Top 3
- Apple drops the grip on new hardware: Every time Apple organizes an event, it is as if time stands still in the world of technology. If that’s still the case, it’s up to you, but it’s still a fact. Here is our iPhone news summary, Apple Watch News, iPad updates and a general raid in case you want to go to the finish line. Enjoy!
- Atlanta on the rise: TechCrunch continued its US city tour today after hitting Chicago and Boston in recent weeks. This time, we step into Atlanta’s burgeoning startup scene, which is experiencing record capital inflows. We spoke to a few founders and investors to find out the latest news. Don’t forget that Atlanta newly produced a decacorn outlet.
- And speaking of decacorns, Canva just raised $ 200 million with a valuation of $ 40 billion. In percentage terms, the Australian design software company managed to raise two invoices for 0.5% of its equity value. A bargain at double the price. Why is Canva worth so much? Huge scale, as our notes on your income growth illuminate.
Startups / VC
Before we dive into our usual startup news roundup, TechCrunch did an inquiry into the value of BNPL’s myriad of startups around the world through the lens of some recent acquisitions. I wrote it. Read it if that’s your problem.
- In light of the Apple Fitness news of the day, it is important that Tonal just announced that live classes are coming to his service. Tonal competes in the hardware and software market against Peloton and other players. In particular, it is the Opening around the world who are merging hardware and software more than Apple in this case, which is mostly integrating services into its existing products. Regardless, there is good news for Tonal users.
- 1047 Games closes $ 100 million: If you’re hot, writes Brian Heater, you’re hot. And 1047 games with their hit Splitgate title is more than warm. So stifling that it just closed a third round since May. What is Splitgate? An FPS that includes portals. (Which, frankly, sounds amazing.)
- Grammarly opens up to developers: Grammarly is well known as a product that people use to help improve their writing. But what if you wanted to turn Grammarly technology into your own product? Well now you can. The company just announced a developer product. The finance nerd in me wonders how lucrative the new line of business will turn out, and if it will help the company introduce its damn S-1 already.
- EverAfter raises $ 13 million, underscores that HRtech is still in vogue: According to our own reports, EverAfter has created a “no-code customer tool that streamlines onboarding and retention.” That’s a a bit like Sora, a startup that TechCrunch has also written about. A few rounds focused on the same space is a sign!
- Today’s Tiger round is Indonesian fintech Xendit: Xendit is now a unicorn thanks to a check for $ 150 million written by Tiger. At this point, we estimate that each time Tiger’s managing partners go to dinner, they tip $ 150 million. It’s the only number they know! Regardless, the Jakarta-based fintech with a payments focus has big expansion plans that are now well funded.
Is it so bad to take money out of Chinese hedge funds?
Are the founders in fundraising mode shortsighted when it comes to working with Chinese investors?
Asia Business Development Manager for Runa Capital, Denis Kalinin, studied data from iTjuzi, a database of Chinese venture capitalists, and found:
… Chinese funds invested around $ 250 billion in 2020 (three times more than the figure reported on Crunchbase). This figure puts Chinese venture capital investments just 30% below those of US funds, but three times more than those of UK funds and 12.5 times more than those of German funds.
The pandemic, geopolitical tensions and other factors led many Chinese hedge funds to reduce their international investments, but that’s in large part “because during COVID, China’s economy recovered much faster than other countries,” Kalinin writes.
His analysis covers multiple angles: Chinese investments in Europe are catching up with those in Asia and the United States, half of China’s top cross-border investors are CVCs, and investors are particularly interested in fintech, deep tech, and digital health in this moment.
“Chinese investors can bring value to foreign startups, but you need to study their experience and how it can be useful to you.”
(Extra Crunch is our membership program, helping founders and startup teams get ahead. You can sign up here.)
Big Tech Inc.
Before we get into the thick of the Big Tech news, an update from the US government: “Biden’s New FTC Nominee Is A Critical Big Tech Digital Privacy Advocate”, result. That matters.
- LinkedIn promises $ 25 million to creators: In the event that your LinkedIn feed lacked pizazz, the Microsoft subsidiary has plans to beef up its influx of content. A $ 25 million “Creator Accelerator Program” has been established to encourage more, well, creation. LinkedIn is also getting into live audio.
- 51 more Starlink satellites take flight: We are including this news in Daily Crunch today in case you are what’s more considering moving to rural Montana, but needs to keep working.
- Spaceflight seems to fly to the moon: Elon’s space company isn’t the only player looking to get humans out of the plant. The space flight “will transport customers on a lunar flyby mission next year,” which is beyond cool. How much does a ticket cost?
TechCrunch Experts: Growth Marketing
We’re reaching out to startup founders to tell us who they turn to when they want the most up-to-date growth marketing practices. Complete the survey here.
Read one of the testimonials we have received below!
Marketer: Andrew Race, Juice
Recommended by: Orin Singh, Trade industry
Testimonial: “We were referred to Juice by a family friend of the owner of my business, and as a personal courtesy, they said they were giving us their best boy. Naturally, we think that’s what everyone is saying, but they weren’t kidding. Andrew was uniquely leagues ahead of our previous marketing company. Having someone so knowledgeable and willing to learn a new industry turned out to be the turning point for us. “
From planned Twitter spaces to impromptu chats with the Capital Crew, the TechCrunch team is constantly on Twitter. Tomorrow Wednesday, September 15 at 2 pm PDT / 5 pm EDT, the Disrupt Battlefield judges will speak on Twitter Spaces. On Thursday, September 16 at 3 p.m. PDT / 6 p.m. EDT, Danny Crichton will be joined by Martin Ford, author of “Robot Rule: How Artificial Intelligence Will Transform Everything”. Make sure to follow the TechCrunch Twitter account to keep up to date with our news and events.