Spotify’s New “Only You” Feature Expands Investment in Personalization – TechCrunch
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Hello and welcome to Daily Crunch for June 2, 2021. It’s a good day in the tech world as the old Spotify unicorn came out with new features on you. Yes, the company adopts its annual ratings in mid-year format and packs its app with even more personalized mixes. My playlists are the reason I won’t be leaving Spotify until the universe’s thermal death, so I guess it makes sense for the service to double its customization feature set.
The Top 3 TechCrunch
- Stack Overflow sells for $ 1.8 billion: Well-known developer community and a hub of cut-and-paste snippets for software engineers of all skill levels Stack Overflow sells at Prosus for almost $ 2 billion. What is Prosus? He’s part of Naspers, a South African investment group that you may have heard of. Naspers is perhaps best known for owning a large stake in Tencent.
- Guild Education raises $ 150 million: The company, focused on what TechCrunch has described as âemployer-sponsored learning opportunitiesâ for employees, is now worth $ 3.75 billion after its last funding round. For the booming edtech startup market, the round is big news. There is still a lot of capital for tech companies tackling different aspects of the education market.
- Tech companies’ big race for cash continues: As well-known tech startups like Marqeta seek to make the list, other companies are jumping on the bandwagon. TechCrunch reported this morning that fintech company Yieldstreet could go public through a SPAC, and the data-centric Unicorn Confluent will also go public.
Startups and VC
The busy startup fundraising cycle of the week continued today with a multitude of companies, from the very early stages to the most mature unicorns, raising capital. The following is a selection of today’s hottest deals. We start in the world of wheels:
- Faction raises $ 4.3 million for three-wheeled delivery vehicles: Who are driverless, should we add. Daily Crunch is certain that just considering the sheer amount of capital invested in the various projects of this type, it will eventually work. Maybe Faction will be the company to get it right.
- FlixMobility raises $ 650 million for its low cost bus service: If you are American, you may not have heard of FlixMobility, which operates FlixBus and FlixTrain, low cost transport services in Europe. The company is also working to expand into the United States. For reference, the new Flix cycle is a series g.
- $ 60 million tier options for the electric scooter network: The electric scooter parts are do not dead, it turns out. Of course, Bird’s SPAC demonstrates how difficult the economic situation has been for the model in some markets, but Tier now has access to a “highly scalable asset-backed debt facility,” in the terms of its CFO, to continue to grow. The company also has neat battery technology on board its portfolio.
Now, today’s other series of notes tackle a more diverse set of industries:
- Stemma raises $ 4.8 million for managed company Amundsen: What is Amundsen? Through Ron, it is a “data catalog project that [Lyft built] to manage its huge data needs. And now there is a startup that offers it as a service. It reminds me to a certain extent of BuildBuddy, in which a startup uses a BigCo tool, helping others to access and benefit from it.
- $ 131 million in total capital for Jeeves: It’s $ 31 million in equity and $ 100 million in debt access, which we assume is sort of a revolving facility because Jeeves is building a multinational expense management platform. You know, for companies that have employees everywhere. Like all the startups we talk to these days.
- Divido is raising funds because apparently we still need more services buy now, pay later (BNPL): Divido has put together a new $ 30 million round to bring its BNPL service to more markets, TechCrunch reports. The BNPL startup market has been hot because the companies there are doing well. But at some point we hit saturation, don’t we? Right?
With a $ 1.6 billion purchase from Depop, Etsy asks, “How are you, comrades?” “
News broke today that Etsy will buy the second-hand fashion market Depop in a deal that values ââthe UK-based startup at $ 1.625 billion.
Depop posted 100% year-over-year growth to reach $ 70 million in revenue last year, but it’s still worth wondering if Etsy paid a premium to expand its reach into hearts, minds and wallets of Generation Z and young Generation Y consumers.
To frame the overall value of the deal in a larger context, let’s take a look at the revenue multiples of competitors Poshmark and ThredUp. If the big e-commerce players are ready to enter youth-approved markets, there is a good reason for this.
(Extra Crunch is our membership program, which helps founders and startup teams move forward. You can register here.)
Big Tech Inc.
Big Tech was very busy today, Spotify aside. Today we are talking about Amazon, Apple, Facebook, GitLab and Huawei:
- Welcome to 2021, Amazon: The American e-commerce giant abolishes cannabis testing of its employees. Our first reaction to this news was that Was Amazon testing its employees?
- Apple has high self-esteem: Apple released a study saying it facilitated more than half a trillion dollars in commerce last year. We’re sure Apple really put itself to the test by coming up with the number.
- Facebook does two things that aren’t zero: Today, Facebook has opened up its Messenger API to all businesses, which is good. And Big Blue has implemented a search API. Both are good things from Zuck’s empire. Which is nice to say for once.
- GitLab acquires UnReview: GitLab is north of $ 100 million in revenue and is slated for a possible IPO, so it’s significant enough to warrant its inclusion in this section. Regardless, GitHub’s competitor bought a startup that “helps software teams recommend the best reviewers when developers want to verify their latest code” using machine learning. Honestly, it looks cool.
- Huawei’s new operating system loves Android: TechCrunch has a lot of details about HarmonyOS, Huawei’s new operating system. It turns out he’s using Android code. All hail Google, we suppose.
Tomorrow (Thursday) at 2:00 p.m. PDT / 5:00 p.m. EDT, we’ll be chatting on Twitter Spaces about the future of ecommerce with Accel’s Ethan Choi, who recently wrote this article for Extra Crunch. Joining him will be ours Danny crichton, CEO of Shogun Finbarr taylor and the vice president of products and general manager of the Shopify platform, Brandon chu. Keep an eye on our tweets for more details and come listen (and bring your thoughts and questions!).
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