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Welcome to the Daily Crunch for Thursday, April 7, 2022! We’d like to kick off with a quick congratulations to FabuLinga for winning the pitch-off at the MovieUpdates City Spotlight (Austin Edition). Check out all of our City Spotlight content for a whirlwind tour of the Austin startup scene.
The MovieUpdates Top 3
- Tata Group embraces e-commerce with super app: The Indian conglomerate known for its myriad of companies including software and telecom gathered all its properties under one big embrace, er, “super app” called Tata Neu, which launched today to give the company some e-commerce with offerings such as groceries, electronics and hotels. We report that this has been at least three years in the making and also includes a loan and insurance payment service.
- Better.com layoff saga is no better: MovieUpdates has obtained a video leaked of a 12-minute meeting that took place with the remaining employees after 900 of their colleagues were fired in December. In it, CEO Vishal Garg admits that his lack of discipline has resulted in the company losing some $200 million, saying, “Today we recognize that we have hired too many people and hired the wrong people. we failed. I failed. … We could probably have made more money last year and been leaner, meaner and hungrier.”
- When you learn it’s time to go public… cloud, that is: Enterprises have been migrating to the cloud for a while now. When Amadeus, a supplier of public travel systems, saw the text on the wall seven years ago, the company decided to embark on a journey that would prove difficult, but was on the way to working more efficiently.
Startups and VC
Ladies, gentlemen, and people who fit neither description, it takes every ounce of self-control these days. I would like to point out that I have not made a terrible joke about the multiple meanings of “seed” in relation to raising seed funding. The company is building a community and services to support people who are trying to increase our global population, one small person at a time. Once Conceive is successful, Singapore’s Parentinc steps in; it just raised $22 million for its parenting community and the D2C brand.
“The Folklore highlights the best design talent in all of Europe [Africa], and the demand for these products that reflect the culture is exploding,” said Folklore’s CEO of the $1.7 million fundraiser and launch of a B2B fashion e-commerce platform. We are also seeing strong growth in DIY workers and the sharing economy in Africa – and ImaliPay just raised $3 million to provide financial services to DIYers across the continent.
I have to admit that the only thing that scares me more than self-driving trucks (like the large Kodiak Robotics rigs that ran non-stop for 131 hours) are autonomous heavy construction machines. I’ve seen “The Terminator” and I know how this ends.
Delicious bits of freshly baked news from all over MovieUpdates:
3 ways deep tech founders can climb out of a pilot’s purgatory
Because so many deep-tech startups operate on the fringes, founders in this space have a harder time raising funds, acquiring customers, and achieving product-market fit.
Many of these companies will retire early because they never move from the pilot phase to a full rollout. “This is a big, widespread, industry-specific problem,” said Champ Suthipongchai, co-founder and general partner at Creative Ventures.
“While I don’t suppose I have a solution, I do know three ways deep tech founders can make sure their time in pilot purgatory ends in a rollout.”
(MovieUpdates+ is our membership program that helps founders and startup teams get ahead. You can sign up here.)
Big Tech Inc.
It’s Major League Baseball opening day, and as we ate our peanuts and Cracker Jack (which also contains peanuts, but we digress), we saw some Big Tech companies take it out of the park today. General Motors chose Opening Day to announce that the Bolt was back after a massive recall as streaming services line up their bats to get live sporting events on their platforms.
Speaking of streaming services, HBO Max’s Apple TV app is getting an upgrade to address some of the performance issues users were seeing and to introduce a number of new features, including a “binge mode” that lets you skip the credits and watch the video. next episode of you can start. a television show. Spotify unveiled new features and functionality for its “Car Thing” in-car entertainment system, such as managing calls and playing music from other media. Meanwhile, TikTok has again postponed the opening of its first data center in the UK, which will be located in Dublin, citing a delayed timeline due to the global pandemic.
We’re almost full from all that food, but here are a few more crumbs you might like: