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Hello and welcome to Daily Crunch for August 20, 2021. The week is completed, however our work to meet up with the torrent of know-how, startup and enterprise capital information shouldn’t be. Today we’ve software program corporations investing in accommodations, worthwhile scooters, at-home rowing machines and TikTookay radio? Oh, and apparently Elon is constructing a robotic. It’s an awesome group of tales! — Alex
The TechCrunch Top 3
- Microsoft backs OYO: A whereas again TechCrunch broke the information that Microsoft may again Indian resort upstart OYO. It was a little bit of a wild story, because it didn’t appear to make that a lot sense. Well, the deal occurred. Microsoft has invested $5 million into the corporate at a $9.6 billion valuation. Notably, that’s solely a slight low cost from the corporate’s previous $10 billion valuation. Next up for OYO is an IPO, we presume.
- Bird shows improving scooternomics: American scooter firm Bird goes public through a SPAC — more here — and we acquired a take a look at the corporate’s most up-to-date monetary efficiency. In brief, a shake-up of its working mannequin has improved its economics, even when the corporate nonetheless has a protracted strategy to go to turning an actual revenue.
- China shakes up its data privacy rules: For corporations, that’s, not the state; don’t count on the CCP to start out respecting privateness anytime quickly. But for corporations within the nation, a strict new legislation referred to as the Personal Information Protection Law is coming into impact November 1. Per TechCrunch, the brand new algorithm would require “app makers to offer users options over how their information is or isn’t used, such as the ability not to be targeted for marketing purposes or to have marketing based on personal characteristics.”
- Alerzo raises $10.5M to digitize Nigeria’s economy: Nigeria’s increasing startup scene acquired one other enhance at this time with Alerzo’s newest spherical. The “B2B e-commerce retail” startup desires to assist convey the nation’s casual economic system online. According to TechCrunch that a part of the Nigerian economic system is value some $100 billion.
- São Paulo-based QuintoAndar puts points on the board for Brazil: What does one do after elevating a $300 million spherical? Well, in case you are a Brazilian property know-how firm, you increase one other $120 million. That’s what QuintoAndar simply did, at an eye-popping $5.1 billion valuation. The firm connects demand and provide within the nation’s rental and residential markets.
- For extra on Africa’s startup market, head here. And if you need extra notes on Brazil, we’ve got you covered.
- Breef wants to connect brands and agencies: Normally we’d attempt to make a pun about how we hope that this startup’s life shouldn’t be, ahem, breef, however we’re extra mature than that. Instead, we’ll observe that the Greycroft-backed firm simply raised $3.5 million, and it connects groups at boutique companies with bigger, extra long-term contracts with manufacturers than what most freelance platforms supply.
- Cardiomatics does just what it says on the tin: Yes, Cardiomatics is an electrocardiogram-reading automation firm, such as you surmised from its title. And it simply loaded its accounts with $3.2 million. The firm helps “GPs and smaller practices offer ECG analysis to patients without needing to refer them to specialist hospitals,” TechCrunch reviews.
- Rutter is building the Plaid of e-commerce data: API-delivered startups are scorching today. Connecting numerous companies in a specific area of interest through API is a well-liked concept as nicely. And e-commerce is booming. At the intersection of these three developments is Rutter, which simply raised $1.5 million and is constructing a “unified e-commerce API that enables companies to connect with data across any platform.” Very cool.
- If you want extra startup information, we’ve just what you require on this week’s Equity podcast.
4 widespread errors startups make when setting pay for hybrid staff
In a current survey, 58% of staff stated they plan to stop in the event that they’re not allowed to work remotely.
Startups that don’t supply workers work-from-home flexibility are at a aggressive drawback, however determining the way to pay hybrid staff raises a posh set of questions:
- Should you localize salaries for staff in several areas?
- How must you pay staff who’ve the identical job when one is WFH and the opposite is at their desk?
- Are you being clear together with your employees about how their compensation is ready?
(Extra Crunch is our membership program, which helps founders and startup groups get forward. You can sign up here.)
Big Tech Inc.
- Peloton wants to get into erging: Do you just like the Peloton mannequin, however aren’t excited by stationary biking? Don’t fear, the corporate is constructing a rowing machine, it seems. We hope that the machine is a bit safer than the Peloton treadmill turned out to be. Frankly the choice is smart as erging is fashionable and wholesome and good, and it’s not like people who row are well-known for not having cash.
- Sirius wants to be TikTok cool: This is the “How do you do fellow kids?” meme, however IRL. Sirius, the satellite tv for pc radio firm that’s well-known within the United States, has launched a radio station that performs songs fashionable on the social platform hosted by well-known TikTokers. Parents, prepare for moderately annoying street journeys.
- Spotify wants to retire shares: Spotify is spending one other $1 billion shopping for its personal shares again from the general public markets. In brief, Spotify is rich and generates sufficient money to energy all of its work with out dipping into its reserves. So it’s spending a few of its further money shopping for again its personal inventory, which has seen its worth decline in current months.
- Elon Musk dressed a dude in a suit and promised a future robot: When are we going to cease falling for Elon vaporware? Around when these photo voltaic roofs launch, I reckon. This time Tesla chatted a couple of future humanoid robotic. And the corporate dressed up a human in an unconvincing suit to reveal what it can seem like? Er, certain. Not that we’re against the tech. We aren’t. But what a bizarre strategy to announce a future product.
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Join Danny Crichton on Tuesday August 24, at 3 p.m. PDT/6 p.m. EDT for a Twitter Spaces interview with Eric Dean Wilson, writer of, “After Cooling: On Freon, Global Warming, and the Terrible Cost of Comfort.”