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Indian food delivery startup Zomato will seek post-IPO valuation up to $8.6B – TechCrunch


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Hello and welcome to Daily Crunch for July 8, 2021. Forget about Hot ___ Summer. It’s Hot IPO Summer in know-how land, and right this moment’s information underscores simply how inviting the worldwide exit market is proving to be.

But earlier than we get into the TechCrunch Top 3, the excellent news from the location is that our newest super-deep firm teardown, or EC-1, is reside. This time, we looked at NS1, an organization that we wrote is constructing “a strategic node at the core of the modern web delivery tech stack.” The complete sequence is hearth. — Alex

The TechCrunch Top 3

When we mentioned it was IPO season, we weren’t kidding. Here’s the day’s largest exit information, which has a theme, as you’ll see:

  • Instacart hires new CEO as it preps to go public: Big information from the world of grocery delivery right this moment as longtime Instacart CEO and co-founder Apoorva Mehta promoted himself to chairman of the corporate’s board. Facebook exec Fidji Simo is taking the helm. Back throughout my first stint at TechCrunch, Mehta would ship me Facebook messages when his firm added new Bay Area markets. How occasions change!
  • India’s Zomato sets IPO price range: The day’s different large information from the world of delivery comes from India’s Zomato, which will worth its IPO “shares in the range of 72 Indian rupees (96 cents) to 76 ($1) and is targeting an upper limit valuation of $8.56 billion,” TechCrunch stories.
  • Crypto-powered Circle is going public via a SPAC: If you’re a crypto-minded individual, you’ve heard of Circle. If you aren’t, it’s the corporate that purchased SeedInvest and helps construct stablecoin USDC. It’s going public by way of a SPAC at a multibillion-dollar valuation. Call it using the Coinbase wave.

Startups/VC

Flipping the script and going again to the sooner levels of startup life, right here’s a rundown of reports from startup land:

  • PowerZ raises $8.3M to fuse gaming and education: The French startup is each a gaming firm and edtech startup. The startup thinks that “educational games will become mainstream really quickly,” TechCrunch stories. This is smart: I’ve realized extra concerning the Middle Ages from Crusader Kings III than any e book I’ve learn.
  • Rootly raises $3.2M to bring SRE tooling into Slack: Look, all of us reside within Slack or Teams, so why not deliver extra performance into the providers? Rootly desires to deliver “an incident-response solution inside” of the work platform that Salesforce is shopping for. The spherical and firm are neat, as is the truth that startups are constructing atop Slack itself.
  • Z1 wants to bring fintech to LatAm zoomers: Homebrew is placing early-stage cash to work in Latin America in hopes that Z1 can mimic what Nubank has managed within the area, particularly build a fintech titan and raise a zillion dollars. Per TechCrunch, Z1 was a latest Y Combinator grad, which implies that Homebrew acquired round 0.8 bips value of fairness within the $2.5 million the transaction. We child.
  • Popshop Live raises $20M for modern QVC: Now value round $100 million, Popshop Live has constructed a “standalone business that taps into the millennial taste for shopping from smaller and more edgy brands and individuals as much as bigger retailers.” With new capital and retailer momentum, it’s a startup to watch.
  • Smile Identity raises $7M Series A to verify identities: Focused on the African market, Smile Identity has put collectively a lettered spherical for KYC and ID providers on the continent. TechCrunch stories that Costanoa Ventures co-led the take care of CRE Venture Capital.

To shut out, Natasha scooped that “Peter Boyce II has left General Catalyst to start his own firm, a little over a year after the venture capital firm promoted him to partner.” It’s a busy week for brand new enterprise funds, with Acrylic and Renegade additionally making information.

The NS1 EC-1

For the most recent entry in our sequence of long-form articles that discover the internal workings of notable startups, we checked out NS1, an web infrastructure firm greatest recognized for its software-defined area identify providers (DNS).

Part 1: Origin story: How three engineers determined to rebuild the web’s core addressing system.

Part 2: Product development and roadmap: Experimentation, open-source efforts and increasing past DNS.

Part 3: Competitive landscape: A have a look at the broader web infrastructure market.

Part 4: Customer development: How their prime competitor’s stumble turned “the gift that kept on giving.”

If you’re interested in how NS1 remodeled “a slumbering and dreary yet reliable aspect of the internet” into “a strategic moat and an enterprise win” in simply eight years, learn on.

(Extra Crunch is our membership program, which helps founders and startup groups get forward. You can sign up here.)

Big Tech Inc.

Just a few notes from Big Tech earlier than we wrap our information protection. Enjoy:

  • Dropbox reinvents work(places): No, not within the product sense, however by way of how it’s approaching workplaces as COVID slowly wanes. The end result? Something that appears extra like a flowery, personal espresso spot than an workplace. I demand that every one firms mimic this instantly.
  • Tendies from $BYND: Yep, Beyond Meat has launched plant-based “chicken” tenders at some 400 U.S. eating places. The firm, lengthy a public agency and thus befitting of our Big Tech moniker, has had a tumultuous life because it went public. Its shares have traded as excessive as $239 because it debuted. Today, the corporate continues to be value a wholesome $140 per share, far above its authentic $25 IPO worth.

TechCrunch Experts: Growth Marketing

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