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Guardian
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Mike Ashley’s Frasers Group makes £83m offer for handbag maker Mulberry
- Frasers Group, owned by Mike Ashley, has made an £83m offer to acquire luxury brand Mulberry.
- Frasers already owns a 37% stake in Mulberry and expressed concerns about the company's future.
- Mulberry recently announced a £10.75m share placement to support its balance sheet after reporting significant losses.
- Frasers aims to avoid a situation similar to Debenhams' collapse and is willing to underwrite Mulberry's share placement on better terms.
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Medium
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Classical Music has Failed the Neoliberal Test
- Classical music has failed neoliberalism's financial scrutiny test, with symphony orchestras being the perfect example of a group of musicians and performers, playing in expensive spaces, and supported largely through state and private donations.
- Arts funding cuts are becoming increasingly frequent as governments demand that arts organizations become more fiscally responsible, leading performers and musicians to wonder how they can encourage investment in this industry.
- Arts organizations need to define the 'sui generis' quality of their products, which offer an emotional release.
- Rather than continue with a 'eat the rich' mentality, musicians need to approach a 'feed the rich' model to appeal to those interested in investing in wellbeing tools and use art as a solution to the problems society has created.
- Artists need to demonstrate new formats for art works that disseminate its power and potential, rather than continually claiming that 'art is good for you'.
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Medium
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Nailing Your Startup Pitch: The 12-Slide Strategy for Captivating Investors
- Mastering your startup pitch requires you to boil it down to its essence. A clear, engaging 12-slide pitch can attract investors.
- This article explains the 12-slide formula for effective pitch creation with examples for each key point of the process.
- The pitch should explain your pain point and provide a vivid picture of why it needs to be solved. You should tell investors your vision and the long-term dream of your business.
- Develop trust with investors by introducing your team's expertise and the unique qualifications they bring to the problem and its solution.
- It's essential to show the magnitude of the market and the timing of your entry into this market. Targeting specific audiences with your solution is key.
- The pitch should also explain the solution, features that make it unique, and your go-to-market strategy, including how to acquire customers and break down your sales process.
- Explain how you plan on making money; illustrate your pricing strategy and revenue streams. Be explicit about how much cash your business needs.
- Indicate how you will allocate the funds and execute an actionable plan, so investors see your pitch as more than a pipe dream.
- Mastering the pitch begins with having three clear formats for different introduction scenarios.
- The article includes a pitch formula and three real-world examples illustrating which elements should be included in a pitch for different industries.
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Medium
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Web3 Security Investment Thesis
- Smart contracts are enforced by lines of strict code in multiple languages and highlight vulnerabilities and help the development team resolve this to maintain security.
- Notable security actions within the space include LayerZero’s $15 Million Bounty program, Euler Finance’s $1.25 Million Audit contest, and Uniswap’s $3.25 Million Audit contest.
- Major players in the smart contract security audits space are Spearbit, OpenZeppelin, and QuillAudits, securing upwards of $100B in TVL and reporting high percentages of YoY gains.
- The global Web3 security market is projected to reach $15 billion by 2027, with a CAGR of 25%, and driven by the explosion of DeFi, NFTs, and smart contract usage.
- Audits are becoming a mandatory prerequisite for DeFi projects seeking to list on major decentralized exchanges and centralized exchanges, with over $2 billion in assets audited in 2022 alone.
- Leading firms like CertiK and Quantstamp have reported revenue growth exceeding 300% year-over-year, with the revenue model of Web3 security firms comprising one-time audit fees, recurring contracts, and automated auditing tools.
- As regulatory frameworks mature, the demand for audited, secure protocols will grow, making security firms indispensable to the infrastructure of the next generation of Web3 products.
- Projects that undergo formal smart contract audits see an 80% decrease in post-launch vulnerabilities, resulting in a 10x increase in institutional confidence and capital inflows.
- The rise of DeFi, NFTs, and blockchain in enterprise use cases is generating unprecedented security demands, and smart contract audits have evolved from a “nice to have” to a fundamental requirement.
- Early-stage investment in this sector presents a unique opportunity for significant returns, with the market projected to grow at a significant pace, yielding 5x to 10x returns over the next 3 to 5 years.
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Medium
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Reference Newsflash September 2024
- The creator economy, which enables people to produce, distribute and monetize content while building interactive communities, has grown to be a $250bn industry, democratising information and promoting transparency.
- Social media hyped up the creative industry during the pandemic years, yet recent interest from both investors and policymakers illustrate its growing legitimacy.
- By 2027, the creator economy is predicted to reach almost half a trillion dollars, yet with growth comes new challenges.
- The instability of creators’ income, the fast turnover of content, and attracting big creators are all obstacles facing creative startups.
- The creator economy’s journey starts with content creation, moves through publishing, engagement and community-building, and ends with monetisation.
- In the US, social media is replacing news for younger users. More people under 35 seek financial advice from “finfluencers” than traditional professionals
- The creator economy trends require a legal framework to protect consumers, especially younger audiences, from misinformation.
- Investment in the creator economy has evolved as the hype fades. Success depends on attracting creators organically and addressing critical needs.
- Despite U.S. chip restrictions, Chinese AI companies turn challenges into opportunities by optimizing models for efficiency.
- Big changes may be ahead for Big Tech in Europe as the new commissioner, Henna Virkkunen, signals a shift in focus toward enforcement and tech sovereignty.
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Medium
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The Active Citizen Project: A Path to Greater Happiness for Humanity
- The Active Citizen Project redefines citizenship, encouraging individuals to take part in their communities in ways that directly improve their surroundings.
- Citizens earn points for volunteering, supporting local businesses and environmental sustainability, fostering deeper connections.
- The project addresses loneliness by incentivizing community participation, encouraging face-to-face interaction and real, human connection.
- The Active Citizen Project seeks to alleviate financial stresses by creating an economic system where individuals are rewarded not just for their wealth, but for their positive contributions to society.
- Through the project’s points system, citizens can gain access to benefits such as discounted public services, healthcare, and educational grants.
- By promoting local economic growth, the project supports small businesses and local industries, creating more jobs and boosting income levels for citizens.
- The project integrates environmental stewardship into its framework, encouraging citizens to take part in activities that protect and preserve the environment.
- Dedicated involvement towards mental and physical wellness through exercise programs, educational courses, and mindfulness practices.
- The result of the Active Citizen Project is a better and healthier world, where people are more connected and ultimately more fulfilled.
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Medium
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The Active Citizen Project: Unlocking Global Wealth and Empowering Citizens
- The Active Citizen Project is based on the principle that every citizen's contribution can create tangible economic value.
- The system encourages citizens to support local businesses and industries, leading to increased business growth and job creation.
- It incentivises productivity, which increases overall economic output, resulting in increased government revenue that can be reinvested into infrastructure, healthcare, education.
- The project promotes sustainable development by incentivising actions that benefit the environment.
- It also reduces wealth inequality by offering everyone the opportunity to earn points based on their actions rather than their financial status.
- If implemented globally, the Active Citizen Project is expected to lead to significant income growth for individuals, especially in countries that suffer from high levels of inequality or economic stagnation.
- Countries that adopt the project could see a 10-20% increase in local job opportunities, resulting in a direct increase in household incomes.
- The project incentivizes personal growth with citizens earning points for completing educational programs or developing skills that make them more employable.
- Economists predict that widespread adoption of the project could lead to an average annual GDP growth of 3-5% across participating nations.
- Ultimately, the Active Citizen Project offers a bold vision for a future where wealth is created and distributed more equitably.
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Medium
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The Active Citizen Project: Empowering Individuals, Transforming Societies
- The Active Citizen Project is an innovative framework designed to encourage citizen engagement in all aspects of society.
- It introduces a points-based system where individuals earn points for positive contributions to their communities, environment, and national economy.
- The project aims to redefine citizenship as an ongoing responsibility that involves making daily decisions that positively impact the world around us.
- If successfully implemented, the Active Citizen Project has the potential to radically transform societies with higher rates of civic participation, a more resilient economy, healthier environments, and stronger social bonds.
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Guardian
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Rightmove rejects £6.2bn takeover offer by Murdoch-backed real estate firm
- UK property portal Rightmove has rejected a £6.2bn takeover offer from REA Group, an Australian real estate firm backed by Rupert Murdoch's News Corp.
- Rightmove deemed the offer as unattractive and materially undervaluing the company.
- On the deadline day, Rightmove called on REA to submit a best and final proposal if they wish to make a fifth offer.
- Rightmove has also declined REA's request for an extension to the deadline and denied access to due diligence information for a potential fifth proposal.
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Medium
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Hard Tech’s Big Break: The Future of Venture Capital in Emerging Technologies
- Hard tech refers to a category of technology that involves substantial engineering challenges and the creation of physical products, as opposed to software or digital services.
- Venture capitalists are increasingly drawn to hard tech due to its potential for high returns and its ability to solve pressing global challenges.
- Specialized incubators and accelerators are emerging to support the unique needs of hard tech startups, providing funding and access to expertise and facilities.
- Despite the risks involved, venture capitalists are partnering with industry experts and using data-driven approaches to evaluate potential investments in hard tech.
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Medium
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Getting Off the VC Train
- Getting off the VC train is becoming popular among VC-backed founders, especially in the $1M to $10M ARR range.
- VC-backed companies at this stage have a viable product, paying customers, and a clear go-to-market strategy, but often need additional elements like a full product suite, a defined market category, a scalable sales process, and a complete management team.
- VC-backed founders seek incremental capital to fill these gaps, but relying on VC funding can be risky due to market volatility and changing investor priorities over the next 12 to 24 months.
- Getting off the VC train early can reduce risk and stabilize the business, but it may also limit the potential for venture-scale outcomes, creating a misalignment with VC shareholders' interests.
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StartupDaily
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ASX-listed Vinyl buys blockchain music startup Serenade in shares deal worth up to $2.3 million
- Sydney-based Serenade, a blockchain music platform, has been acquired by ASX-listed Vinyl Group for $800k in shares. Additionally, Vinyl bought the firm's UK subsidiary for $1, expanding Vinyl.com business in Europe. Serenade's founder, Max Shand, has been appointed CFO of the merged business and will be responsible for meeting sales targets. If the target is reached, Serenade shareholders may receive a further $1.5m in Vinyl shares. The deal is subject to a 12-month escrow. Vinyl purchased Serenade's UK subsidiary debt-free for $1.
- To earn the additional equity, the combined business must generate revenue of more than $4m and $500k in earnings before interest and tax (EBIT) within the next year. Serenade has produced digital collectibles for more than 200 music artists worldwide. Serenade raised $7m from investors in March 2022, including Powderfinger’s Bernard Fanning, actor Hugh Jackman, and former Afterpay boss David Hancock.
- Vinyl's CEO Josh Simons said, Serenade is a business with significant potential and through the acquisition, Vinyl aims to expand Serenade's offering to reach that potential. In the long run, it will allow Vinyl to expand its product offerings in physical and digital collectables while launching into additional markets.
- Furthermore, the Serenade acquisition comes after a string of other purchases made by Vinyl Group; including Funkified for $1.8m in cash and up to $700k in shares and acquisition of media trade title Mediaweek for $1m in scrip and cash 50:50 split. Vinyl also owns music credits database Jaxsta.
- Vinyl Group sees the acquisitions as a significant step towards doubling its revenue run rate to above $20 million by the end of FY2025. Vinyl recently raised $5.4 million in a fully underwritten accelerated Non-renounceable entitlement offer (ANREO) and is spending $2.3 million in cash on Mediaweek and Funkified.
- Serenade's founder Max Shand had previously worked as the first employee of Afterpay and has spent over four years working for the Australian payment and buy-now-pay-later giant. He subsequently cofounded the millennial angels syndicate Strangelove Investments.
- It has been announced that upon the merger, the blockchain start-up’s revenues will add around $2 million annually to Vinyl’s turnover. The acquisition may signal Vinyl’s move towards digital assets and broader tech offerings.
- Vinyl has revealed that much of its growth is organic, while the company reportedly said it may seek more working capital in H2.
- ASX-listed Vinyl Group's recent acquisitions include media trade title Mediaweek for $1m in a scrip-and-cash deal and Funkified for $1.8m in cash and up to $700k in shares. Vinyl also owns music credits database Jaxsta.
- Serenade, founded by Max Shand, launched near-field communication (NFC) collectibles, selling 12,000 units to superfans in H1 2024. The start-up has been in discussions to expand their offering beyond music to sport and other entertainment sectors.
- Josh Simons, CEO of Vinyl Group, has stated that the acquisition is a great way of expanding the company's technology offering. Trading of Vinyl shares at the ASX is up 2% to $0.10 cents as of the close of trading on 28 September 2021.
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Pymnts
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VCs Think Rate Cuts Could Help Lending FinTechs
- Recent rate cuts are seen as good news for venture capitalist firms in the FinTech space.
- FinTechs that depend on loans, such as Ramp and Coast, will benefit from improved loan terms due to the rate cuts.
- Buy now, pay later (BNPL) firms had been thriving when interest rates were low and are expected to benefit from rate cuts.
- While it may take time for the cuts to reach mortgage loan FinTech startups, a refinancing wave is anticipated in the future.
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Medium
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Title: “Staying True: The Power of Sticking to Your Guns and Leveraging Domain Expertise”
- Sticking to your guns and leveraging domain expertise are crucial for entrepreneurial success.
- Domain expertise enhances product/service offerings and builds credibility within the market.
- Balance adaptability with firmness to stay responsive while maintaining strategic vision.
- Case studies, customer feedback, and continuous learning are key to success.
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Tech Story
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Vedantu Raises INR 19.25 Crore in Mixed Debt and Equity Funding
- Indian online educational company Vedantu has raised INR 19.25 crore in a new round of debt and equity funding.
- Vedantu raised INR 17.5 crore through non-convertible debentures (NCDs) and INR 1.75 crore through equity financing.
- The funding will be used for expanding course offerings, technology improvements, and marketing.
- Vedantu's funding showcases the potential for growth in the Indian edtech industry.
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