SPAC Recycle Bin ticker countdown – TechCrunch

Hello and welcome to Equity, TechCrunch’s venture capital-focused podcast, where we break down the numbers behind the headlines.

This week the whole team was on board to record: Grace and Chris making us sound good, Danny to bring lightness, Natasha to remember the facts and Alex to distract us from staying on topic. It’s teamwork, people – and our transitions are proof of that.

And it’s good that we had everyone around the virtual table because there was a lot to do:

  • The team had all kinds of feelings about the Amazon-MGM deal. Some of us are more positive than others, but what emerges from the transaction is that for Amazon, the purchase price is modest and the company has a reputation for playing an allegedly long game. Let’s see how James Bond fits into it. Alex receives four points for not bringing up F1 thanks to the Bond-Aston Martin connection.
  • Regarding the PSPC game, we discussed the recent earnings results of Lordstown Motors and what we can analyze about them regarding the blank check companies, the promises and the reality.
  • After being launched last June with just $ 2 million, Collab Capital closed its first fund at its target goal of $ 50 million. The Black-led company invests exclusively in Black-led startups and has received checks from Apple, PayPal, and Mailchimp to name a few. We talk about this feat and note a few other black-led venture capitalists that have been making waves in the industry lately.
  • We resolved our transitional puns and finally talked about the Affirm spinout, which raised $ 60 million in a roundtable for BNPL for business. There are bigger questions out there around the accessibility and relevance of BNPL, and whether it’s really about reinventing the wheel or just repackaging it with a simpler UX.
  • Then we entered a box of worms about the future of meetings thanks to Rewatch, which raised a $ 20 million Series A this week led by Andreessen Horowitz. The startup helps other startups create internal and private Youtubes to archive their meetings and all video communications. We were only able to spend a second on it, so if you want our longer thoughts in text form, check out our 3 take on the topic on Extra Crunch! (Discount code: Equity)
  • From there we had Interactio and, two other startups tackling the intricacies of meetings in the COVID-19 era, and everything that comes next. The two recently raised new funding, and Alex referred to Kudo to add another upstart to the mix.
  • Noom, a weight loss platform, received $ 540 million in funding after nearly doubling its revenue from 2019 to 2020. The pandemic has caused many people to gain weight, but we understand why the Noom’s moment could be right now after a decade of work.

Thanks for hanging out this week, Equity is back Tuesday with our usual weekly kickoff, thanks to the US Monday holiday. Chat then, unless you want to to follow us on Twitter and get a first look at everything Chris’ own work.

Equity drops every Monday at 7:00 a.m. PST, Wednesday and Friday mornings at 7:00 a.m. PST, so subscribe to us on Apple Podcasts, Overcast, Spotify and all castings.

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