Peloton CEO in the hot seat, activist investor says ‘the ride for Mr. Foley is over’ – TechCrunch
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Hello and welcome to the Daily Crunch on January 24, 2022! Today is a bit of a rough day for, well, everyone. The value of new and old assets has plummeted around the world, and everyone is looking at the mess, wondering what’s next.
Well, the good news is that we can answer that question for you. And after? A billion rounds of seed funding, of course! – alexander
TechCrunch’s top 3
- Activist investor calls for CEO change at Pelton: After escalating the pandemic, home cycling company Peloton is stuck in a standstill, spinning its wheels as its stock price drops. The value of the former startup has plummeted so much that activist investors are calling for a CEO swap, a sale of the company, or both.
- Meta enters the supercomputer game: It is a universally recognized truth: A [tech megacorp] in possession of a good fortune must lack a [supercomputer]. And that’s how we learned today that the entertainer formerly known as Facebook is aiming for a spot in the top 10 of the world’s supercomputer rankings. Perhaps the company will now have the computing power to stop reporting incorrect measurements to partners and customers.
- Will this sale shake up investors? The day’s sell-off hit everything from stocks to crypto prices. But as easily tradable assets take a beating, less liquid seed stocks appear to be in high demand. It’s unclear exactly how long public market damage will take to trickle down to previous startup cycles, but the climate has changed, well, it has.
- Mark Cuban wants to reduce the stress of pharmaceutical consumers: to avoid being fired, I will maintain my point of view on the modern pharmaceutical industry. But good news, Mark Cuban is backing a startup that wants to change the pharmacy game for consumers by selling drugs at cost plus 15%. Which is a modest profit margin for drugs, frankly. Let’s see if it works.
- Today, in good startup names: Pestle is building an app for recipes, shopping lists, and other cooking needs. Anyone who has been tasked with regularly preparing food for others can testify to the problems that arise – to pick a random few – from stale meal rotations, boring mix-ups of ingredients, and the sheer boredom of uninspired food creation. Pestle – which has a great name, and when it becomes brick and mortar, can be called Mortier et Pestle – could change the situation of the cooks in our lives.
- Deliverect raises $150 million: Worth around $1.4 billion through its latest funding round, Deliverect is betting that building “a platform to integrate the many moving parts that come into in ordering and delivery for the average restaurant” is going to be a post-pandemic hit.
- Anyplace lets you work anywhere: if you don’t have pets, kids, or a partner who has location-based work, you can travel the world now and work wherever you want. It is very good. Not so good are the desktop setups you might encounter on the road. Anyplace is now building “furnished apartments that include a ‘fully equipped’ home office” for rent, which is pretty nifty.
- Consolidation in the instant food space: Although I’m an impatient person, I’ve never really been concerned about how long it takes for food to reach my house via Uber Eats or similar. But for many people, the wait is too long. So instant delivery startups have been busy bringing groceries to homes and raising lots of money at the same time. Now we are seeing some consolidation, including Gorillas buying Frichti, creating a new Franco-German fusion that looks like a tasty morsel.
To close our startup news today, we take a Manish Sing three-pack. Singh is a thorough reporting beast, and today he has a trio of stories for you to read:
- Good news: Indian food delivery giant Swiggy just raised $700 million at a whopping $10.7 billion valuation less than a year after raising $5.5 billion.
- Good news: Ola Electric is now worth some $5 billion after raising $200 million. The company builds low-cost electric scooters for consumers.
- Bad news: And yet, despite the above enthusiasm for high-priced startup rounds, the value of Paytm, Zomato, PolicyBazaar and Nykaa, the Indian tech startups that went public last year, “have dropped to their record lows” today.
How our SaaS startup entered the Japanese market without a physical presence
Launching a product in a foreign market with an unfamiliar language and culture is a difficult task, but investors expect growth.
Barnabas Birmacher, CEO of platform-as-a-service company Bitrise, shared the lessons he learned as his team tried to break into the Japanese market.
Instead of relying solely on strategic partners, its team traveled to Japan ahead of its expansion to host events and engage directly with early adopters.
Using tactics that foregone traditional media and marketing, Birmacher’s company hired a manga artist to create a comic featuring a mobile developer, developed “Japan-first” swag to distribute and even designed a costume. size mascot for conferences.
“We left the suit to one of our customers and now people are wearing it while drinking,” he wrote in a TechCrunch+ post.
(TechCrunch+ is our membership program, which helps founders and startup teams grow. You can register here.)
Big Tech inc.
- The Tesla bug was bad: It’s cool that today’s cars can get updates over the air and do more things over time. What’s not cool is when your cute computer on wheels has a bug. It turns out a security aficionado was able to “remotely access dozens of Teslas around the world because security bugs found in an open-source logging tool popular with Tesla owners exposed their cars directly on the Internet”. Whoops !
- Google in trouble at home, abroad: Google is under fire in its home market for allegedly tricking users into sharing data, while in Europe it’s in trouble over its ‘end-of-socket plan’ support for tracking cookies in Chrome” thanks to a “complaint to the European Commission” made by German publishers.
- NBC hopes TikTok will make the next Olympics cool: I don’t know if TikTok has ever reached the level of cheugy “Hello, Fellow Kids” that all social networks reach at some point, but it’s clear that megabrands are hoping that This is not the case. Hence the TV groups hoping to rely on cool to make their own product a little less, well, cheugy.
- Apple fined: Once upon a time, Apple didn’t allow third-party apps on the iPhone. Then he did it and made a squintillion dollars. Now some countries say Apple must allow third parties Payment systems in third-party applications. And Apple is not happy. That’s why he was just fined “5 million euros (~$5.6 million) for failing to comply with the terms of an order requiring him to allow local dating apps. to use third-party payment technology in their apps” by the Dutch.
Are you all caught up with last week’s coverage of growth marketing and software development? Otherwise, read it here.
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