For a preview of the biggest and most important stories from TechCrunch delivered to your inbox every day at 3:00 PM PDT, subscribe here.
Guess who’s back? Back? Well, me after a long weekend, but also Elon Musk is tweeting again, and he has a lot of thoughts about socks. My partner in crime, haje, remains in an undesirable time zone for the newsletter, but will be back later this week. I want to point out some things happening with TechCrunch. The first is that TechCrunch Live’s weekly event series is new and improved, so learn more and sign up. Most of us here at TechCrunch spend our days on WordPress, and the Found team sat down with Matt Mullenweg, CEO of parent company Automattic, for the latest podcast. — Christina
TechCrunch’s top 3
- Just a look: pot holder wrote two of our best stories. The first is a scoop he linked to Glance, which is reportedly launching its lock screen content platform for Android in the US within the next two months. He also dug into Twitter’s lawsuit against the Indian government which was prompted by content takedown orders. This is just another in a long line of problems the company has had in this country.
- No slowdown in climate technology: Paul reports on Climentum Capital’s philosophy behind its new $157 million fund that will go to European startups helping to reduce CO2 emissions.
- We need to understand our ‘output scratgety’: You’ll have to go back to the SNL archives to find this reference, but it’s the first of two haje public announcements for our founding friends. He says you really don’t need that “exit plan” slide in your pitch deck – there’s a lot of assumptions and predictions from a founder, and it’s hard to know who wants to buy your business, so just get rid of that.
Startups and VCs
There are a number of great TechCrunch+ stories out there today. I recommend starting with alexander‘s article on raising soft capital in a sour market, where he basically says that venture capitalists should use their money when they can get the most out of it. Then follow his story yesterday which dives a bit deeper into 2021 business valuations.
Speaking of leveraging capital in a simpler way, some venture capitalists continue to raise funds and Sequoia Capital has been busy. Rita reports that Sequoia’s China unit has taken in $9 billion, at a time when, it writes, “global investors are reassessing risks in China amid a COVID-hit economy and regulatory crackdown in course against the country’s Internet upstarts”. This completes a quick shot I made last week about Sequoia raising two funds in the US.
Meanwhile, hajeToday’s other PSA is a reminder that we don’t all understand on the same level, so startup founders should work to attract more bees with simple honey phrases rather than big flies. complicated.
Here’s what else you might like today:
- show me the money: Kyle reports on Tesorio, which closed a $17 million Series B to continue developing tools to help businesses automate their payment collection process.
- The opposite of McHard is McEasy: In this case, McEasy digitizes the Indonesian logistics, transport and supply chain industries, and Katherine writes about the company’s plans now that it has $6.5 million in new funding.
- To drink: I reported on Maolac, an Israeli food tech company that is investing $3.2 million in new capital in its protein technology that takes bovine colostrum and makes a super food for adults.
- If you like it then you should have put a ring on it: Natasha takes us on a delightful journey watching Ultrahuman’s new smart ring aimed at “decoding metabolic health”.
- A “quantum leap” indeed: Ingrid writes about Oxford Quantum Circuits in the UK, which has raised $47 million for its quantum computing as a service that runs a 3D processor architecture called Coaxmon.
- Driving time: Rebecca interviews Veo’s Candice Xie on the e-scooter company’s steady journey to profitability.
Without a clear request, your pitch deck is useless
Fundraising is difficult as most people have no experience asking strangers for money.
The “ask” slide where the founders explain how they will spend investors’ money is particularly difficult. To cross the mental barrier, haje recommends starting with metrics and milestones.
How much will you increase the MAU or reduce the CAC? What are your target dates for expanding into new markets?
“The more specific your goals are, the easier it is to know if you are working toward them,” Haje writes.
(TechCrunch+ is our membership program, which helps founders and startup teams grow. You can register here.)
Big Tech inc.
Big news yesterday was that Meta has decided not to move forward with its crypto payments wallet, Novi, Natasha writing. The company isn’t getting rid of it completely, so stay tuned for how it could be repurposed.
Meanwhile, Google is making its own postponement – with KakaoTalk updates on its Play Store. kate reports that it has something to do with the messaging app’s refusal to remove its own payment links. You may remember this, but Google doesn’t like it.
In Europe, we have three regulatory histories. The first is Natasha‘s about the European Parliament giving its consent to a set of regulations concerning digital businesses. So Paul wrote about the UK pushing to make “foreign interference”, particularly Russian news, an offense under its Online Safety Bill. To finish, Ingrid reports that the UK has signed its first data-sharing deal since Brexit with South Korea.
Take a look at a few more:
- Those are big goals you have: If you like smartphones with giant camera lenses, then you’ll love it haje‘s report on the new phone from Xiaomi.
- A wedding made in drone heaven: brian wrote about the American Robotics owner’s acquisition of Airobotics and why it’s a good fit.
- Talk about your failure at the reception: WeWork India was caught for exposing visitors’ personal information and selfies, Zack writing.
- Turn on those engines: Rebecca listened to the Tata Motors shareholders’ meeting and found that the Indian automaker aims to sell 50,000 electric vehicles by March 31, 2023.
- No more live trading: TikTok has reportedly ended plans to expand its live e-commerce unit, TikTok Shop, in the US and parts of Europe, Aisha writing. It will be interesting to see if live trading ever becomes a thing in this part of the world.