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Startup News
TechCrunch
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The Chainsmokers want to bring a different kind of value add to B2B companies
- The Chainsmokers have launched their VC fund Mantis VC, focusing on B2B startups.
- They aim to bring a different perspective and value to B2B companies.
- Their strategy is to provide support, perspective, and connectivity that traditional funds may not focus on.
- They leverage their network to make introductions and help with hiring for their portfolio companies.
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TechCrunch
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New funding rounds confirm that money attracts money
- Startup Salva Health won the Startup Battlefield competition at TechCrunch Disrupt 2024.
- Swiggy, India's largest food delivery startup, plans to go public at a $11.3 billion valuation.
- Nasdaq CEO expects a resurgence in startup IPOs to begin in 2025.
- A petition for a new legal form for European startups is gaining momentum.
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Hackernoon
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Fortune Cookies For The Fortune 500? Waymo Thinks So — But Should You?
- Waymo, Alphabet's Google-backed autonomous vehicle company, has utilised fortune cookies in a recent marketing campaign, joining other tech and consumer brands in a context-shock marketing craze. While consumer brands can thrive due to the current needs and longing for fulfilment stemming from our basic instincts - according to neuroscience-backed novelty bias - startups and companies such as Waymo have a bigger responsibility and longer-term business model. Choosing a transitory experience rather than a slow-release interaction based on trust may seem a convenient and attractive marketing stunt, but does it prove the company's credibility and validity over time?
- The fact that tech has put so much thought and money into unconventional advertising and sales methods suggests something deeper: the public's perception of tech as an innovation-driven and ethical industry is dwindling and tech companies are scrambling to prove otherwise. It's clear that trust isn't built over night but through continuous and dependable actions. The tech industry should thus shake off the behavioural gimmicks and return to honest practices that honour the commitment we have made towards tech companies. After all, true transparency will be the most daring and remarkable aspect of technology today.
- Robinhood, a stock-trading start-up that enjoyed rapid growth during the COVID-19 pandemic, took to plastering ATMs with “commission-free trading” stickers: unlike Waymo's fortune cookies, these stickers indicated a thoughtful placement that made sense for the viewer. Robinhood infiltrated the public's mindset by placing the ad in a context where people are often concerned with their financial health and phased the ad as a helpful and topical business strategy. The advertisement was, therefore, less gimmicky and more of a service, putting it a step closer to a slow-release strategy based on trust.
- Antimental, a data analytics company, sent pizzas to previous clients who had gone radio-silent, tapping into the soft spots of humans who were wired to reciprocate kindness. This strategy successfully brought more clients to the fold. Retargeting using personal touches such as pizza delivery helped the company reinforce a connection with former clients rather than nag them with impersonal emails. Not only was the advertisement less invasive, it added an invitation to a shared moment. This experiment was an exception among the examples cited in this article as it refrained from first and foremost looking like a gimmick.
- Spotify's Wrapped is a yearly feature that highlights users' history of musical tastes utilised in creative and public ways. The marketing campaign is more of a friendly reminder that Spotify is a data utility rather than a tool for entertainment purposes alone. The public display of information is a tool for users to check-in and feel a sense of social inclusion while also feeding Spotify data that it can profit from. The Slow-build narrative, social proof and the templating aspect of pop culture notifications cement the advertisement's continual reoccurrence with a set-up reward structure, which progressively unlocks engagement levels and makes the advertisement become a tradition or ritual.
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Gritdaily
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Bitcoin on Core: From Store of Value to Yield-Generating Powerhouse
- Bitcoin has been evolving into an asset that not only holds value but also generates it, as technologies like Bitcoin Layer 2s (L2s) provide opportunities to earn from it.
- Core, the most active Bitcoin sidechain, is transforming Bitcoin’s utility by offering yield through Non-Custodial Bitcoin Staking.
- Core allows users to earn yield on their Bitcoin without moving it out of their wallets or giving up control, appealing to a broad spectrum of holders and institutions who seek to generate returns while keeping their Bitcoin secure.
- Core’s Non-Custodial Bitcoin Staking is groundbreaking for Bitcoin, allowing holders to contribute to the security of BTCfi on Core while earning yield, all without engaging in risky financial practices.
- BTCfi is emerging as one of the biggest untapped opportunities in crypto, and Core is amplifying this potential through its upcoming Dual Staking feature, which will enable users to stake both Bitcoin and CORE tokens simultaneously to earn enhanced Bitcoin staking rates.
- Core is leading this movement by making Bitcoin more than just digital gold; it’s transforming it into a financial powerhouse capable of delivering yield and long-term growth.
- Its mix of clear utility, a vibrant ecosystem, and innovative tokenomics make it one of the most compelling opportunities in the current market.
- The rise of BTCfi will redefine how value is generated from Bitcoin, and Core could be the driving force behind Bitcoin’s next trillion-dollar opportunity.
- Core unlocks new opportunities for investors and shifts how they interact with Bitcoin, paving the way for deeper adoption across retail, institutional, and developer communities.
- As Bitcoin evolves, BTCfi represents an opportunity for those looking to ride Bitcoin’s growth to its full potential, and Core stands at the center of this transformation, making it one of the most compelling opportunities in the current market.
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Pymnts
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Access Group to Enhance Hospitality Product Offering With Paytronix Acquisition
- The Access Group has announced its acquisition of Paytronix to enhance its hospitality and convenience store product offering.
- Paytronix provides a guest engagement platform while Access Group offers business management software.
- The acquisition aims to deliver a comprehensive suite of unified technologies that enhance the customer experience.
- Paytronix will retain its name and integrate its platform with select Access products.
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Yourstory
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Walmart India slashes losses by 68% YoY to Rs 154 Cr in FY24
- Walmart India reduces net loss by 68% YoY to Rs 154 crore in FY24.
- Revenue from operations reaches Rs 5,194 crore in FY24, up from Rs 5,002 crore in FY23.
- Total expenses decrease by 2.37% to Rs 5,354 crore in FY24.
- Walmart-owned Flipkart cuts losses by 13.2% to Rs 4,248 crore in FY24.
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Medium
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Week 8 of my startup journey
- Frnd app is a one-on-one and group messaging app with a good UI and UX, but it may feel bloated due to too many features. The user base mostly consists of people from tier 3 cities in India.
- Wysa is an AI-based mental therapy app offering an AI bot for conversations and DIY exercises. However, the lack of human interaction and support for only English language is a limitation.
- YourMove is an AI-powered dating app that enhances profile pics, provides fun bios, and prompts replies. While it saves time, it comes at a cost.
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VC Cafe
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Weekly #FIRGUN Newsletter – November 1 2024
- Firgun is an informal modern Hebrew term and concept that describes unselfish delight or pride in the accomplishment of the other person.
- Last week, Israeli startups raised over $500M, demonstrating the ecosystem’s ability to attract investors during market instability and conflict.
- In the tech and AI ecosystem, OpenAI is now going head to head with Google with ChatGPT search, and xAI now has the world’s largest AI supercomputer.
- Apple rolled out Apple Intelligence across iPhone, iPad, and Mac devices, while Russia fined Google the largest fine compared to the world's total GDP and has released a new product called Google Learn About.
- Flash floods in Valencia, Spain claimed the lives of 95 people and created apocalyptic scenes, and Iran threatened it will deal Israel a 'devastating blow.'
- Israeli startups raised over $500M, and M&A deals surged to $11.9 billion—up 39% from Q1-Q3 2023.
- Startup NextSilicon raised $100M, followed by DoorLoop at $100M, and INNOVENTRIC at $28.5M to fund their respective projects.
- Sapien and Motormia both raised over $8M in seed rounds, and Verax AI raised $7.6M.
- Ctrl was acquired by Sana AI for an undisclosed sum, and Puls was acquired by Super for an undisclosed sum.
- The state of AI in Q3 2024 and in generative AI’s early years have been explored in CB Insights and The Wharton School's AI Adoption Report, respectively.
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Hackernoon
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Startups of The Year: Nominations Date Extended!
- The deadline for Startups of The Year 2024 nominations has been extended due to overwhelming demand.
- There have been over 1,074,900 votes and 153,600 startups nominated across 98 industries and 2,900 cities worldwide.
- The competition is fierce, with nominated startups actively promoting their achievements on social media.
- The nomination process is easy and requires filling out a form on the website.
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TechCrunch
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A new app launches to help keep voters informed for elections
- A new app called My Ballot Ai has been launched to help voters stay informed about upcoming elections.
- Users can ask questions about any upcoming elections and receive real-time answers.
- The app is powered by Google Gemini and sources its data from the Google Civic API and the BallotReady API.
- The app also allows users to fill out a sample ballot and familiarize themselves with the language on the ballot.
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Gritdaily
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A Global Perspective and Military Discipline in Real Estate: Nic Williams’ Journey
- Nic Williams' life and career are shaped by military discipline and a global perspective.
- Growing up in a military family, Nic gained exposure to diverse cultures and lifestyles.
- His military background influences his client-first approach to real estate, focusing on integrity and care.
- Nic embraces technology and aims to inspire other real estate professionals to prioritize relationships and community impact.
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Hackernoon
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10 Questions for Cybersecurity Firm Resonance Founder Charles Dray
- Resonance Security is a cybersecurity firm that offers a full-spectrum cybersecurity suite of software and services.
- Charles Dray, the founder and CEO of Resonance Security, shares insights and experience in an interview.
- The company aims to protect companies and individuals from evolving cybersecurity threats.
- Resonance Security provides effortless, effective, and evolving cybersecurity solutions for various segments.
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Geek Wire
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The winning ideas at the UW computer science school annual research showcase
- The University of Washington's annual Research Showcase, hosted by The Paul G. Allen School of Computer Science & Engineering, featured top computer science engineers presenting their latest work.
- The winner of this year's Madrona Prize, a Seattle venture firm award, is a project using AI to support team communication in remote work environments.
- Two runner-up projects were also recognized, one developing a way to enhance the performance of large models on wearable devices, and another working on a new method to sequence proteins using nanopores.
- The "People's Choice" award went to two groups: AHA, a Vision-Language Model for Detecting and Reasoning over Failures in Robotic Manipulation, and AltGeoViz, which facilitates accessible geovisualization.
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TechRound
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Top Unicorns in Colombia
- Colombia, one of the largest economies in Latin America, is driven by various sectors such as agriculture, oil, mining and manufacturing. Colombian government has made a concerted effort to support startups and growing businesses by providing them with mentorship programmes, funding and other relevant resources.
- By the end of 2023, the country was home to a total of 1,720 startups who had managed to secure a total of $786 million in investment.
- Colombia's positive startup ecosystem is influenced by government support, strategic location, innovative hub, a young population, and an effort to improve infrastructure.
- As of October 2024, Colombia has three unicorns - Rappi, Life Miles, and Habi with a valuation of $5.25 billion, $1.15 billion, and $1 billion respectively. Rappi is an on-demand delivery platform connecting consumers with merchants and couriers.
- While Life Miles is the operator of loyalty programmes that are intended to reward frequent flyers, offering flexibility in their usage and Habi is a real-estate platform aimed at simplifying the process of buying and selling residential properties for middle-class consumers.
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Economic Times
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Court approves Tupperware's sale to lenders, paving way for brand's exit from bankruptcy
- Tupperware Brands, in the process of exiting Chapter 11 protection, has been sold to a group of lenders for $23.5m in cash and over $63m in debt relief, pending certain closing conditions, following court approval in Delaware.
- Last month, the Florida-based company filed for bankruptcy, with Tupperware reporting more than $1.2bn in debts and $679.5m in assets.
- The airtight food storage firm will become known as The New Tupperware Co after completion of the deal.
- The company said Tupperware will still be sold through an established network of sellers.
- According to Tupperware, customers in 'global core markets' will be able to purchase their products online, though specifics are yet to be released.
- While sales improved during the height of the COVID-19 pandemic, as more people cooked and ate at home, Tupperware experienced a sustained decline in revenue over recent years.
- The shift in consumer behaviour was a significant factor in the firm's struggles, as purchasing habits moved away from direct sales and towards glass containers, as well as home storage lines from firms like Target, Walmart and Amazon.
- At one point in the past, Tupperware was so popular that the brand removed its products from stores.
- Tupperware's bankruptcy papers said its outdated business model and rising competition had played a part in the company's downfall.
- Following the purchase, the new owners promised to rebuild the brand as a start-up and focus on key global markets.
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