Google Opens First Retail Store in NYC

Daily Crunch: June 17th – A TechCrunch Recap

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

This is a return to the Daily Crunch for Thursday, June 17th. My thanks go to Walter Thompson and the Extra Crunch team for covering my absence, which was due to my temporary jury duty commitment.

I have been excused from jury service, and will be providing updates for the rest of the week. Alex will resume his regular schedule shortly.

Upcoming City Spotlight: Pittsburgh

Before continuing with today’s news, please note that Duolingo’s Director of Engineering will be a featured speaker at our City Spotlight event in Pittsburgh, occurring in just two weeks.

Karin Tsai initially joined Duolingo in 2012 as an early engineer. She has witnessed the company’s evolution from a small startup to a global organization with over 400 employees.

— Henry

Recent Developments in Technology

A security flaw was identified by Google within its Android application. This vulnerability potentially enabled unauthorized access to personal data stored on user devices.

Fortunately, the issue was promptly addressed and resolved by the company. Google has stated that there is currently no indication of any data breaches occurring as a result of this bug.

Proposed Federal Agency for Tech Oversight

Senator Kirsten Gillibrand, representing New York, has reintroduced legislation aimed at creating a new federal agency within the United States.

The proposed agency would be tasked with protecting the privacy of American citizens and mitigating potentially intrusive data practices employed by technology companies operating domestically.

Significant Investment in AI Defense Startup

Anduril Industries, an AI-driven defense firm established by Palmer Luckey – the founder of Oculus and subsequent seller to Facebook – has secured $450 million in funding.

This investment round has resulted in a valuation of $4.6 billion for the startup, marking a substantial increase in worth within just four years of its inception.

Startups and Venture Capital Funding

$51 million in Series B funding has been secured by Unit, propelling its mission to empower both fintech and non-fintech businesses to rapidly develop banking products – within a matter of minutes.

A new wave of innovation is impacting the recruitment landscape. Beamery has collected $138 million in funding to further develop its technology and fundamentally alter the process of online job recruitment.

According to Ingrid, the company positions itself as a “talent operating system.” This system is designed to streamline the management of talent acquisition, encompassing sourcing, hiring, and retention, alongside comprehensive talent analytics for organizations.

Nylas, known for its powerful APIs that facilitate seamless integration of email, calendars, and other tools into various applications, has announced a substantial funding round. The investment totals $120 million and will be used to expand its business operations.

HR Data Analytics

eqtble is focused on providing data analytics for HR departments, recently raising a $2.7 million seed round. Companies generate significant employee data, and eqtble aims to assist in its effective collection and utilization.

Cybersecurity is extending its reach into the industrial sector. Claroty, a company specializing in protecting large organizations – including Pfizer, where it played a role in securing the COVID-19 vaccine supply chain – has raised $140 million.

This funding will allow Claroty to continue its work in safeguarding critical infrastructure and industrial control systems from cyber threats.

Navigating the New Landscape: 5 Strategies for Influencer Marketing Success

Even startups with limited resources can forge impactful connections with both well-known and up-and-coming influencers across platforms like TikTok, Instagram, and YouTube. This is achievable, however, requires a solid understanding of the current influencer marketing ecosystem.

While brand collaborations remain a primary income stream for content creators, a growing number are actively exploring alternative revenue sources. Marketers who demonstrate a nuanced approach to influencer outreach will find opportunities regardless of budgetary constraints.

For marketing leaders at early-stage companies, this guide details how to identify influencers whose values align with your brand and establish a mutually beneficial revenue-sharing model.

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

Understanding the Shifting Dynamics

The influencer landscape is evolving, demanding a more strategic approach from brands. Simply having a product isn't enough; authentic connection is paramount.

Creators are becoming increasingly selective about the brands they partner with, prioritizing alignment and long-term relationships. This shift necessitates a focus on building genuine rapport rather than solely transactional engagements.

Key Considerations for Effective Outreach

Successful influencer marketing hinges on several crucial factors. These include identifying the right partners and structuring fair compensation.

Authenticity is Key: Seek influencers whose content naturally complements your brand's message.
Beyond Reach: Focus on engagement rates and audience demographics, not just follower counts.
Transparent Communication: Clearly outline expectations and deliverables from the outset.

A strong emphasis on transparency builds trust and fosters a more productive collaboration.

Structuring a Revenue-Share Agreement

Revenue-share models can be particularly attractive to both brands and influencers. They align incentives and encourage a performance-based partnership.

Consider offering a percentage of sales generated through the influencer's unique affiliate link or discount code. This approach demonstrates confidence in the influencer's ability to drive results.

Negotiation is crucial to ensure a fair and sustainable agreement for all parties involved.

The Future of Influencer Marketing

The influencer marketing space will continue to mature, demanding greater sophistication from brands. Adapting to these changes is essential for sustained success.

Prioritizing genuine relationships, embracing innovative revenue models, and consistently monitoring performance will be vital for navigating this dynamic landscape.

Big Tech Inc.

Residents of New York City now have access to Google’s latest retail location, which commenced operations today in the Chelsea district. This new physical store places Google alongside major players like Apple, Microsoft, Samsung, and Amazon, allowing customers to explore its range of hardware products and those from partner brands.

The prevalence of advertising continues to grow, as Instagram has announced a worldwide rollout of advertisements within Reels, its competitor to TikTok. As reported by Sarah Perez, these advertisements will be designed in a vertical format and can be up to 30 seconds long. Similar to standard Reels content, users will be able to interact with these ads through likes, comments, and saves.

This morning, Google introduced a new series of virtual machines powered by AMD’s third-generation EPYC processors. Designated as the Tau series, these machines are compatible with the x86 architecture and deliver a 42% improvement in price-performance compared to conventional VMs. Google asserts that the Tau family surpasses the capabilities of current cloud virtual machines.

Amazon revealed its Appstore Small Business Accelerator Program this week, designed to lower the fees charged to app developers. Previously, Amazon’s Appstore retained 30% of app revenue, including in-app purchases. Now, developers earning up to $1 million in the previous year will only pay a 20% commission, and the program also includes AWS credits.

The virtual iteration of E3 2021 concluded this week, with Microsoft being highlighted by Brian Heater as the leading company, unveiling 30 new games. Nintendo also contributed with announcements of additional software for the Switch console.

TechCrunch Seeks Top Growth Marketing Professionals

daily crunch: google’s first retail location opened today in nyc

TechCrunch is currently compiling a list of leading growth marketers within the technology sector.

Founders are encouraged to share their recommendations regarding professionals they have collaborated with.

Participate in the TechCrunch Survey

Your input is valuable! Please complete the survey available at this link.

Insights into Growth Marketing Trends

Those interested in understanding the methodology behind these surveys and their impact on TechCrunch’s reporting can review an interview.

The interview features Eric Eldon, Managing Editor of Extra Crunch, and Susan Su, Head of Portfolio at Sound Ventures, discussing growth marketing strategies from 2021.