China Bans Crypto Trading & Mining - Daily Crunch
Daily Crunch: September 24, 2021
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Welcome to Daily Crunch
Greetings, and welcome to the Daily Crunch for September 24, 2021. Are you managing to stay current with everything? The past week proved exceptionally active, yet the TechCrunch team remains dedicated to reporting on the startup ecosystem for our readers.
For those needing a recap of this year’s Battlefield victor, the Equity podcast team provides comprehensive coverage.
Startup Battlefield Winner
The winner of Startup Battlefield 2021 has been announced. Details regarding the winning startup and the competition can be found in the linked article.
The Equity podcast team offers in-depth analysis of the event and the participating companies.
We continue to monitor and report on developments within the startup landscape.
TechCrunch's Weekly Highlights
This week's top stories from TechCrunch cover developments in cryptocurrency regulation, investment trends in Latin America, and the evolving landscape of startup funding.
China's Renewed Crypto Restrictions
China has once again implemented restrictions on cryptocurrencies. This recurring pattern of regulatory measures has become a familiar element within the global cryptocurrency market.
The latest actions taken by the Chinese government resulted in a decrease in the value of prominent cryptocurrencies. This news is particularly relevant for companies like Coinbase and Robinhood, which are heavily involved in the crypto space.
SoftBank's Increased Investment in Latin America
The competition to identify and support the next significant technology company is intensifying globally, with Latin America emerging as a particularly attractive region for investment.
SoftBank has significantly increased its financial commitment to Latin American startups. The Japanese telecommunications and investment firm has allocated billions of dollars to further fuel growth within the region’s startup ecosystem.
The Rise of Bootstrapping
Recent discussions at TechCrunch Disrupt events have focused on alternative fundraising methods and the potential decline in reliance on traditional venture capital.
With a growing number of funding options available, startups may find they have less need to seek venture capital, even as overall venture capital investment continues to rise globally. This trend suggests a strengthening bootstrapping economy.
The current environment presents a favorable opportunity for startups to achieve success through self-funding and alternative revenue streams.
Startup Funding News
The plant-based dessert company, Noops, is aiming to secure further investment after recently completing a $2 million funding round, following a previous $2 million raise. The alternative milk sector is experiencing significant growth, and Noops is positioning itself to potentially become a leader in the oat milk pudding market.
Noops Secures Additional Funding
Investors, including Lerer Hippeau, are showing confidence in Noops’ potential. The company hopes to avoid receiving rejections from potential investors as it scales its operations.
OpsObs Gains $4 Million
Avenue believes that operations observability will be a key area of focus for businesses. The startup has secured $4 million in funding after launching its product last week.
Avenue’s objective is to provide operations teams with dedicated tools for monitoring team performance. This is achieved through a centralized “command center” interface.
Ukio Targets Longer-Term Rentals
Ukio has raised $9 million to capitalize on the growing demand for rentals lasting a month or longer. This trend was notably observed by Airbnb during the pandemic, as short-term stays declined while longer-term rentals increased.
The company offers rental units with flexible terms, catering to individuals seeking extended stays in locations like Spain. Ukio provides a potential solution for those wanting to work remotely from abroad for a month or more.
Ryan Reynolds' Approach to Authentic Marketing
Ryan Reynolds is widely recognized for his work in film, but he also holds a significant ownership position in Mint Mobile, a mobile virtual network operator. Over the last three years, the company has experienced substantial growth, exceeding 50,000%.
Prior to its sale for $600 million last year, Reynolds was also an investor in Aviation Gin. His business acumen extends beyond acting, demonstrating a keen understanding of brand building.
Reynolds is also the founder of Maximum Effort, a marketing agency responsible for campaigns promoting “Deadpool,” Aviation Gin, Mint Mobile, and the widely shared Match.com advertisement portraying Satan and 2020 as a disastrous pairing.
In a discussion with Jordan Crook, Reynolds outlined how startups can implement a strategy he terms “fast-vertising.” This involves leveraging current cultural trends to generate brand awareness and excitement.
“Our process begins with a strong creative concept,” Reynolds explained. “When inspiration strikes, we pursue it with considerable enthusiasm, aiming to create something genuinely engaging and shareable.”
(Extra Crunch is a membership program designed to support founders and startup teams. Registration is available here.)
Big Tech Inc.
The United States is allocating $1.2 billion to improve internet access for underserved communities. This funding aims to provide more students with the connectivity needed for homework and remote learning.
Recognizing the importance of digital inclusion, the U.S. regulatory agency overseeing domestic internet infrastructure is initiating this substantial investment. Further financial support is anticipated, as detailed by TechCrunch.
United Kingdom's AI Ambitions
The government of the United Kingdom has expressed a desire for the nation to become a global frontrunner in AI development. Achieving this goal, however, necessitates significant financial commitment.
Questions persist regarding the total cost of this ambitious strategy and the government’s ability to secure the necessary funding. Success in the global AI landscape requires surpassing China, the United States, and the European Union.
Amazon Expands Prime Video Channels in India
Amazon customers in India now have access to a wider range of streaming options through the introduction of eight new digital channels. These include Discovery+ at $4 annually, Mubi at $27, Hoichoi at $8.2, DocuBay at $6.8, ErosNow at $4, Lionsgate Play at $9.5, manoramaMax at $9.5, and ShortsTV at $4, according to TechCrunch.
This expansion demonstrates Amazon’s continued investment in its digital media offerings. Further developments in both the Indian market and internationally are expected in the coming months.
Finally, actor Chris Pratt has been cast to voice the iconic digital character Mario in an upcoming film. The casting choice has been met with some surprise.
TechCrunch Insights: Identifying Leading Growth Marketing Professionals
Image Credits: SEAN GLADWELL / Getty ImagesTechCrunch is dedicated to assisting startups in locating specialists who can effectively address their unique challenges. Currently, we are compiling a curated list of the most accomplished growth marketers available.
Since the launch of our survey, we have been fortunate to receive numerous valuable suggestions regarding exceptional growth marketing talent within the startup ecosystem.
Seeking Further Recommendations
We anticipate receiving additional responses and are eager to analyze the incoming data.
Your input is valuable! Please contribute by completing the survey available here.
The goal is to provide startups with access to a network of proven growth marketing professionals.
- This initiative aims to connect emerging companies with experienced marketers.
- The survey responses will be instrumental in shaping our final recommendations.
We believe that identifying top growth marketers is crucial for the success of early-stage ventures.
