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Daily Crunch: November 3, 2021

A daily summary of TechCrunch’s most significant and impactful stories is delivered to inboxes each day at 3 p.m. PDT. You can subscribe to this roundup here.

Market Reactions and Economic Conditions

Greetings, and welcome to Daily Crunch for November 3, 2021. Today has been quite remarkable. Despite the U.S. Federal Reserve’s announcement regarding a reduction in its asset purchasing program, stock values increased.

The current stock market appears to be consistently favorable, regardless of economic indicators. A loosening of monetary policy due to a weak economy prompts market gains, fueled by a supportive central bank.

Conversely, positive economic data that justifies tighter monetary policy also results in stock market increases. This dynamic presents a curious situation.

Implications for Startups

This environment is potentially advantageous for startups seeking an exit strategy. Favorable conditions could increase valuation opportunities.

— Alex

TechCrunch's Leading Three Stories

Recent data indicates a positive shift for female founders in 2021, with improved fundraising outcomes. Following a challenging 2020, companies established by women are demonstrating significantly stronger performance this year.

Improved Funding for Female-Led Startups

An analysis conducted by TechCrunch revealed both setbacks and encouraging trends in funding for female founders. The investigation highlighted areas of concern alongside notable improvements in investment activity.

The Surge in Initial Public Offerings

A considerable number of companies are currently pursuing initial public offerings (IPOs). Paytm secured a $1.1 billion pre-IPO investment in anticipation of its public market launch in India.

AllBirds successfully priced its IPO above expectations and experienced a highly positive reception on its first day of trading. Similarly, Kakao in Korea also enjoyed a strong debut on the stock market.

Furthermore, Backblaze and Expensify are also progressing towards their respective IPOs, contributing to the overall trend.

Leadership Transition at GitHub

A change in leadership is occurring at GitHub. Nat Friedman, the current CEO, is transitioning to the position of “Chairman Emeritus.”

Thomas Dohmke, GitHub’s chief product officer, is slated to assume the role of CEO later this month. This transition follows the substantial IPO of GitLab, a key competitor in the code management space.

The appointment of a new CEO signifies a strategic move for GitHub as it navigates a competitive landscape.

Startups/VC

The Gopuff business model is expanding internationally. Breadfast, as reported by TechCrunch, aims to dominate the rapid, on-demand delivery sector in Egypt and throughout Africa. Initially focused on bread delivery, the company has diversified its offerings.

A significant development in the realm of digital security: the U.S. has imposed a ban on NSO Group. Software developed by NSO Group has been reportedly utilized by authoritarian regimes to monitor journalists, activists, and individuals deemed undesirable by those in power.

Australia has determined that a facial recognition startup violated its legal framework. Clearview AI is accused of illegally collecting and incorporating the facial biometric data of Australian citizens into its AI-driven identity matching system. Canada has reached a comparable determination.

The Radar vs. Lidar Debate

Ongoing investment in Spartan Radar, following a previous funding round, suggests that the automotive industry remains undecided on the optimal technology for self-driving vehicles. The question of whether radar or lidar will prevail remains open.

Privacy-Focused Software Development

Ethyca is empowering developers to prioritize privacy in their software. With newly acquired funding, Ethyca is open-sourcing its Fides toolkit, enabling developers to integrate privacy tools and monitoring directly into their code.

The trend of consolidating e-commerce brands continues to attract investment. Following similar activity in North America and Europe, Una Brands has secured additional capital to expand its operations in the APAC region.

Fintech in Africa

Payhippo has raised $3 million to facilitate lending to small businesses in Africa. This investment reflects the recent surge in fundraising within the African fintech sector. Payhippo specifically targets SMB lending, a focus the firm highlights.

The name Payhippo is noteworthy. It is a memorable and effective brand identity.

Supporting Black Women Founders

A compelling argument is presented by Victoria Pettibone, managing partner at Astia Fund. She asserts that venture capitalists need to enhance their support for Black women founders within the startup ecosystem.

This is a crucial point for fostering diversity and inclusion in the venture capital landscape.

A Resurgence in Venture Funding for Female Founders

Despite the ongoing pursuit of equal representation in startup investment, the disparity between genders is demonstrably decreasing, as evidenced by data compiled by PitchBook.

The financial support directed towards U.S.-based startups with female founders has almost doubled within the past year. To date in 2021, these companies have successfully finalized 2,661 funding rounds, totaling $40.4 billion.

According to Natasha Mascarenhas and Alex Wilhelm, the recent trend indicates a reversal of previous setbacks. They report that “the decline has not only halted, but has been powerfully reversed.”

This positive shift suggests a growing recognition of the value and potential of businesses led by women.

(Access to exclusive insights and resources for founders and startup teams is available through TechCrunch+. Registration can be completed here.)

Big Tech Inc.

Let's begin with a focused look at recent developments within the major technology companies, with particular attention given to the expansion occurring in cloud computing. This refers to the remote server infrastructure that powers the software applications we utilize daily.

Recent Headlines

• Social Media Disinformation: The issue extends beyond Facebook. Following disclosures concerning Kenya’s President Uhuru Kenyatta, Twitter experienced a surge in messages expressing… approval. While artificial grassroots campaigns aren't novel, the clarity of this instance is particularly concerning.
• Instagram and Twitter Integration: Instagram is reintroducing Twitter Card previews. For some time, Instagram posts simply displayed images of tweets. This move by the Meta-owned platform aims to enhance user experience.
• Cash App Expansion to Teens: A new generation benefits from modern financial tools. Unlike previous generations reliant on checkbooks or cash, Square is now enabling teenagers to use Cash App, with parental oversight.
• DoorDash Safety Initiatives: The delivery service has launched “SafeDash,” a security resource for its drivers. This collaboration with ADP seeks to improve the safety of DoorDash delivery personnel.

These updates represent a snapshot of the dynamic landscape within the big tech sector. Each development highlights ongoing trends and challenges faced by these influential companies.

Further Details

The astroturfing incident on Twitter underscores the ongoing battle against manipulated online narratives. It demonstrates the potential for coordinated efforts to influence public opinion.

Instagram’s decision to reinstate Twitter Card previews signifies a renewed focus on interoperability between social media platforms. This allows for a more seamless sharing of content.

Cash App’s expansion to teens reflects a broader trend of financial technology becoming accessible to younger demographics. Parental controls are crucial for responsible usage.

DoorDash’s “SafeDash” initiative demonstrates a commitment to driver safety. This partnership with ADP provides resources and support to enhance security during deliveries.

TechCrunch’s Network of Experts

TechCrunch is dedicated to assisting startups in locating qualified professionals. Currently, efforts are focused on compiling a list of leading growth marketers.

Since the launch of our survey, numerous valuable recommendations regarding growth marketers within the startup ecosystem have been submitted.

Seeking Recommendations

We are actively encouraging further participation and eagerly anticipate receiving additional responses.

The survey can be accessed and completed at this link.

• The goal is to connect startups with the most suitable expertise.
• Growth marketers are the initial focus of this expert network.
• Feedback received through the survey is instrumental in building this resource.

Your input is highly valued and will contribute to a more robust network of professionals available to the startup community.