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Hello and welcome to the Daily Crunch for January 7, 2021! It’s Friday and it’s snowing like poultry in my neck in the woods. But it wasn’t a snowy day in the tech world. not in All. In fact, one investment firm has amassed 10 capital numbers today. Can you guess who?
Top Tech Crunch 3
- Reloading a16z with $9 billion in the new administrative capital: The arms race for venture capital continued this week with news that Andreessen Horowitz is raising $9 billion to invest in venture deals, growth deals and biotech more specifically. As TechCrunch points out, the resulting dollar figure is a boost to the recent trio of similar funds. There seems to be an unlimited appetite for capital in today’s startup market.
- Roblox withdraws the Chinese app: Five months after its launch with Tencent in China, LuoBuLeSi has been removed from Roblox. What happened? Roblox may have some work to do on the data side of its service, something I alluded to in a statement. Regardless, this move is another example of how difficult it is for non-Chinese companies to build and sell digital products in the country.
- India to investigate Google: In the wake of industry complaints from news groups, the Competition Commission of India said “on Friday that Google dominates some online services and that its initial view is that Google has violated local antitrust laws,” TechCrunch reports. Given the size of the large and profitable Indian market, this is not good news for Mountain View.
startup / VC
Before we jump into all the startup news today, TechCrunch has a little fun for you. We got venture capital veteran Matt Murphy on the phone as 2021 approaches chatting about past tech booms, past tech meltdowns and what he sees as the strengths and weaknesses of today’s adventure game. It’s a great weekend to read.
And now, the news:
- Pendulum raised $5.9 million to trace the narrative: This is fun, as the company’s target market is completely new to me. According to our reports, Pendulum “helps companies, governments and other organizations to track malicious narratives on social media platforms and elsewhere on the web.” I think you and I are currently doing this by reading a lot of tweets, but seeing a company build software for that makes sense.
- Peter Reinhardt leaves Twilio: Remember when it bought Twilio Segment for $3.2 billion? It also bought Segment CEO, Peter Reinhardt, as part of the deal. Now, however, the CEO is leaving “to be the full-time CEO of Charm Industrial, a carbon mitigation startup he co-founded in 2018,” Ron Miller reports. I can’t quite connect Charm And carbon, but we’ll watch what the startup does next.
- Avataar raised $45 million for a “3D mockup evaluation”: No, this is not an “avatar”, like the movie. It’s Avataar, a US and India-based startup that helps consumers “envision products in real life size and feel comfortable in their living room” using their phones. Since we all like to buy more stuff online, but it’s not always easy to imagine a new footstool on site, I like what the company intends to do. Unsurprisingly, Avataar works with e-commerce brands in categories such as furniture.
- Bfree wants to update the troublesome business of credit groups: If you ever get a call from someone who thinks you owe them or someone who represents money, you may have warmed to how fun it can be to get a root canal. Bfree, the “Nigerian fintech of credit management,” in the words of TechCrunch, is building something it considers more ethical debt collection. The company just raised $1.7 million and is busy hiring in 16 markets, according to our report.
- From CES Beat: TechCrunch’s coverage of today’s great consumer electronics conferences continues, with posts on the promises of old tech, well, all things metaverse, good and bad.
if you need even more Startup news, notes, and analysis this weekend, the Equity team has you covered.
After speaking to marketing leaders for a year, here’s my advice to CEOs
This is a great time to start a startup, but if you’re trying to grow a company – well, winter is coming.
We’ve already noticed the effects of new data regulations and consumers’ growing desire for more privacy, but here’s another track record of bad news: As a percentage of company revenue, marketing budgets fell from 11% in 2020 to 6.4% last year.
“This is the lowest percentage earmarked for marketing in the history of the Gartner Annual CMO Expenditure Survey,” the research firm stated.
Rebecca Lin, co-founder and general partner at Canvas Ventures, has had dozens of conversations with early stage founders in recent months.
In a TechCrunch+ guest post, she covers “downward pressure on efficient marketing dollars” and shares several strategies that lead to results – as well as some “crazy” ideas that “seem silly at the time”.
(TechCrunch+ is our membership program, which helps founders and startup teams move forward. You can register here.)
Big Tech Inc.
- Apple continues to work on its own fitness product: TechCrunch has news today regarding Apple’s fitness product, called Fitness+. what’s new? The groups we write are “a coordinated series of exercises and meditations” aimed at a specific goal. Also new is the so-called “Time to Run,” the “audio playback experience,” as we put it. Why doesn’t Apple just buy the Peloton? I do not know.
- When does the Twitter space turn into a podcast? We will find out. Twitter is working on recording a live audio product, called Spaces. The social network says it will include replay analytics. Which one is awesome? It looks like Twitter’s product team is bringing a really strong 2021 product cadence into the new year.
- And finally, from CES, a A two-wheeled electric mobility tour For everyone who lives in a city that has not given up its spirit to provide more parking for lazy people.
Tech Crunch Experts
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