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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 very busy day on the positioning immediately, and Haje has been busy getting actual grumpy at Tesla for not recording the automotive crash he was in immediately. (He’s effective. Or a minimum of, as effective as he was earlier than the automotive crash.) — Christine and Haje
The TechCrunch Prime 3
Apparently the hacker’s LastPass wasn’t really the final one: Two months after LastPass skilled a breach, we at the moment are studying extra about what the hackers bought. Carly writes that the corporate’s proprietor, GoTo, says hackers stole prospects’ encrypted backups.
In the event you like the nice outside: Strava, the exercise monitoring and social group platform, acquired Fatmap, a 3D mapping platform for the nice outside, to make that subsequent hike a doozy, Paul stories.
What’s up with WhatApp: Ivan is following a creating 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 net or its web-based WhatsApp consumer. Each usually are not splendid 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 assets and urge for food to help such corporations (e.g., SoftBank and Tiger World have pulled again dramatically), but in addition secondary buyers have even misplaced curiosity. Not less than, that’s Connie’s learn of a brand new report, in her wonderful article Opportunistic buyers are giving up on getting old pre-IPO corporations.
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’ve got 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 corporations usually attain billion-dollar valuations in the identical timeframe.
“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 corporations 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 just some 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 can be reworking total industries supply a number of the solely paths to ’10x exits.’”
Three extra from the TC+ crew:
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Large 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 property. If there may very well be a rainbow amid the rainstorm, it’s Zillow desirous to make reserving a house tour for leases simpler. Enter its Calendly-like instantaneous reserving characteristic that can be utilized with out having to get involved with anybody. Ivan writes that the characteristic is already obtainable for hundreds of properties and can ultimately embody the flexibility to decide on between a digital, in-person or self-guided tour.
Now right here’s 5 extra:
