Apple Zero-Day Flaw: Urgent Security Update Required

Daily Crunch: September 13, 2021 – Welcome Back!

Greetings and a warm welcome back to Daily Crunch for September 13, 2021. This update is presented by Alex, who has returned!

Sincere gratitude is extended to Greg for expertly covering the news last week during my personal time off. It’s a pleasure to reconnect with our audience.

Disrupt is Approaching!

As a quick reminder, the Disrupt conference is scheduled to begin next week. Ensure you have secured your ticket and are prepared for an exciting event.

Further details regarding Disrupt can be found here. The event promises to be a significant and noteworthy occasion.

We anticipate a truly remarkable show.

TechCrunch's Leading 3+ Updates

• Ongoing Apple-Epic Legal Battle: Following the recent and debated ruling in the dispute between Apple and Epic Games, Epic is pursuing an appeal. This ongoing legal process has significant implications for the future of mobile app monetization. The substantial financial interests involved explain the protracted nature of the legal proceedings.
• Resurgence of Initial Public Offerings: Toast, a Boston-based startup specializing in software and hardware solutions, is aiming for a substantial increase in valuation through its upcoming IPO. Similarly, Freshworks is also preparing to go public. We are closely monitoring both companies and will provide further updates as their trading dates approach. A surge in IPOs is anticipated in the near future.
• Potential Impact of Chinese Regulations on Cloud Market: A recent TechCrunch report highlights the potential negative effects of China’s regulatory actions on its cloud computing sector. Additionally, reports surfaced today indicating that the Chinese government may consider dismantling Ant Group, the financial arm of Alibaba. Furthermore, the nation intends to consolidate its electric vehicle (EV) industry.
• Urgent Security Update from Apple: Apple has released a critical patch addressing a zero-day vulnerability impacting all iPhones, iPads, Macs, and Apple Watches. Users are strongly advised to update their devices immediately.

The appeal by Epic Games signals a continued challenge to Apple’s app store policies.

The anticipated IPOs of Toast and Freshworks demonstrate renewed investor confidence in the tech sector.

China’s regulatory interventions are poised to reshape its technology landscape significantly.

Addressing the zero-day flaw is crucial for maintaining the security of Apple devices.

Startups and Venture Capital Funding

The landscape of startup funding continues to evolve, with significant investments being made across diverse sectors. Several companies recently secured substantial capital to fuel their growth and expand their offerings.

GrubMarket Secures $120 Million

GrubMarket has successfully raised $120 million in funding. This investment is geared towards enhancing its platform, which connects food growers and consumers. The company focuses on serving the needs of distributors, wholesalers, and supermarkets, a crucial segment beyond individual consumer deliveries.

BitSight Acquires VisibleRisk Following Moody’s Investment

BitSight, a company specializing in cyber-risk assessment, has acquired Israeli startup VisibleRisk for an undisclosed amount. This acquisition followed a $250 million investment from Moody’s. The integration aims to incorporate cyber risk evaluations into Moody’s credit rating methodologies.

SpotOn Raises $300 Million and Expands Through Acquisition

SpotOn, a unicorn providing financial software to small businesses, has secured a $300 million funding round, resulting in a company valuation of $3.15 billion. Alongside this, SpotOn is acquiring Appetize, a commerce platform for large venues like sports arenas and theme parks.

This funding is particularly noteworthy given SpotOn’s previous valuations of $1.875 billion in May and $625 million last year, demonstrating rapid growth.

JumpCloud Achieves $2.56 Billion Valuation with $159 Million Raise

JumpCloud, a provider of cloud directory and identity services, has raised $159 million, bringing its total valuation to $2.56 billion. The company has experienced approximately 40% customer growth since November. Its focus on single sign-on and multifactor authentication is a key differentiator.

The Rise of DevSecOps and Rezilion’s $30 Million Funding

A new term is gaining traction in the technology world: DevSecOps. This field addresses the security needs of IT teams and their technical workflows. Rezilion, a startup serving the DevSecOps market, has raised $30 million to further its development efforts.

Capiter Secures $33 Million for E-commerce Platform in Africa

Investors continue to seek opportunities in the e-commerce platform space. Egyptian startup Capiter has secured $33 million in funding to facilitate product distribution and access for manufacturers and sellers across Africa.

General Motors Invests in Radar Software Startup Oculi

General Motors has made a strategic investment in Oculi, a radar software startup. This move aligns with the ongoing advancements in self-driving car technology, contributing to the continuous improvement of autonomous vehicle capabilities.

Establishing Pricing Strategies for Emerging SaaS Offerings

A critical challenge for every founder initiating an enterprise software venture lies in determining the optimal pricing structure for their products.

This is a pivotal decision, as the chosen model significantly impacts revenue and market adoption. For instance, while per-seat licensing offers administrative simplicity, a concurrent licensing approach might better align with customer preferences.

Yousuf Khan, a partner at Ridge Ventures and former CIO, emphasizes that initial pricing conversations should prioritize understanding the buyer’s viewpoint and the demonstrable value the product delivers.

He further points out the inherent difficulty in objectively assessing one’s own creation, particularly when seeking financial compensation for it.

Key Considerations for Early-Stage SaaS Pricing

Focusing on the customer’s perceived value is paramount during the initial pricing phase. Understanding how your product solves their problems and the resulting benefits will inform a justifiable price point.

It’s important to remember that accurately gauging the worth of your own product can be challenging. Seeking external perspectives and conducting thorough market research are crucial steps.

Consider these points when formulating your pricing strategy:

• Value-Based Pricing: Align costs with the quantifiable benefits provided to the customer.
• Competitive Analysis: Research pricing models of similar solutions in the market.
• Customer Segmentation: Different customer groups may perceive value differently, necessitating tiered pricing.

(Access to exclusive insights and resources for founders and startup teams is available through our Extra Crunch membership program. Registration can be completed here.)

Big Tech Inc.

We begin this brief overview of major technology developments with a continuation of the automotive focus initiated by recent news from General Motors. Ford Motor Company also generated significant attention today with the appointment of Mike Amend as its new Chief Digital and Information Officer.

This strategic recruitment by Ford underscores the evolving direction of the automotive industry, signaling a growing emphasis on digital technologies.

Recent Developments

• Instagram's Account Favoriting Feature: The platform is developing a tool enabling users to designate favorite accounts. This aims to ensure users don’t miss updates from key connections, addressing concerns related to algorithmic timeline filtering.
• Dutch Court Ruling on Uber Driver Status: A Dutch judge’s decision classifying Uber drivers as employees represents a setback for the ride-hailing service.

The ruling directly challenges Uber’s core business model, which relies on classifying drivers as independent contractors. This outcome is likely to have considerable implications for the company’s operations within the Netherlands and potentially beyond.

The court’s decision highlights the ongoing legal and regulatory scrutiny faced by companies operating within the gig economy.

TechCrunch Insights: Growth Marketing Professionals

Did you have a chance to review last week’s articles focusing on growth marketing strategies? The previous coverage can be found here.

TechCrunch is currently seeking recommendations for accomplished growth marketers. Expertise in areas like SEO, social media, and content creation is highly valued.

Seeking Growth Marketing Recommendations

If you are a professional in the field of growth marketing, please share this survey with your clientele. We are interested in gathering feedback regarding positive client experiences.

Client testimonials detailing the benefits of your services are particularly welcome. This feedback will help us identify leading professionals in the industry.

• SEO specialists are in high demand.
• Experts in social media marketing are also sought after.
• Proficient content writers are crucial for successful campaigns.

Your clients’ input is invaluable to TechCrunch’s ongoing research. We appreciate your participation in helping us recognize exceptional growth marketing talent.

Community Engagement

Danny Crichton will be hosting a discussion on Twitter Spaces tomorrow, Tuesday, September 14th. The event is scheduled to begin at 2:00 PM PDT, which corresponds to 5:00 PM EDT.

The conversation will center around the potential impact of remote work on the necessity of H-1B visas. Sophie Alcorn, an immigration attorney from Alcorn Immigration Law, will be participating.

Guest Speaker

Sophie Alcorn also contributes as a guest columnist for “Dear Sophie,” a column featured on Extra Crunch. Her expertise will provide valuable insight into the legal aspects of this evolving situation.

• Event: Twitter Spaces discussion
• Date: Tuesday, September 14
• Time: 2:00 PM PDT / 5:00 PM EDT
• Host: Danny Crichton
• Guest: Sophie Alcorn (Alcorn Immigration Law)

This discussion promises to be informative for anyone interested in the intersection of remote work, immigration policy, and the future of skilled worker visas. Don't miss this opportunity to gain expert perspectives.