Apple Fall Event 2021: Daily Crunch Recap

Daily Crunch: September 14, 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.

Apple's New Releases Dominate Discussion

Greetings, and welcome to Daily Crunch for September 14, 2021. Today’s online conversation was largely centered around Apple’s latest product announcements.

Much of the afternoon was dedicated to evaluating whether an upgrade to a new smartphone is truly necessary. While a new device may not be essential for most, this won’t deter many within the TechCrunch team from investing in Apple’s offerings.

TechCrunch Disrupt Approaches

Preparations for TechCrunch Disrupt, which begins in one week, are well underway. The event promises to be a showcase of innovation and entrepreneurial spirit.

Your correspondent is planning a shopping trip this afternoon to improve his appearance for the event. Jordan, naturally, will be impeccably presented at the Disrupt Desk.

We look forward to seeing you there! — Alex

TechCrunch Highlights: Top 3 Stories

The technology sector closely observes Apple's announcements whenever the company holds an event. Whether this remains true is a matter of perspective, but the impact is undeniable.

Our coverage includes the latest on iPhone developments, Apple Watch updates, iPad news, and a comprehensive overview for those seeking a broader understanding.

Atlanta's Expanding Tech Scene

TechCrunch’s city tour, following visits to Chicago and Boston, has now focused on Atlanta. The city’s startup ecosystem is experiencing unprecedented levels of investment.

We’ve interviewed founders and investors to provide insights into the current state of Atlanta’s tech landscape. Notably, Atlanta recently witnessed a significant decacorn exit.

Canva's Latest Funding Round

Further demonstrating substantial growth, Canva has secured $200 million in funding, achieving a $40 billion valuation.

This represents a 0.5% equity stake for $200 million – a considerable investment. The Australian design software company’s high valuation is driven by its impressive scale and revenue growth.

• Apple's New Releases: Coverage of the latest iPhone, Apple Watch, and iPad updates.
• Atlanta Startup Growth: An examination of the increasing capital investment in Atlanta’s startup community.
• Canva's Valuation: Details on Canva’s recent $200 million funding round and $40 billion valuation.

The scale of Canva’s operations is a key factor in understanding its current market value.

Startups & Venture Capital Updates

Prior to our regular summary of startup-related news, TechCrunch recently investigated the valuation of numerous Buy Now, Pay Later (BNPL) startups globally, analyzing recent acquisition activity. This analysis was authored by me; it is available for reading if you are interested in the topic.

Key Developments This Week

• Apple Fitness & Tonal: In relation to recent announcements concerning Apple Fitness, it’s significant that Tonal has revealed the upcoming launch of live classes within its service. Tonal is a competitor to Peloton and other companies in the integrated hardware and software market.
• Interestingly, it is startups that are currently demonstrating a greater tendency to combine hardware and software solutions, as opposed to Apple, which primarily integrates services into its pre-existing product lines. This is positive news for current Tonal subscribers.
• 1047 Games Secures $100M Funding: As Brian Heater noted, continued success breeds further opportunity. 1047 Games, creator of the popular title Splitgate, is experiencing significant momentum.
• This success is evidenced by the closing of a third funding round since May. Splitgate is a first-person shooter (FPS) game that incorporates portal mechanics – a feature that sounds particularly engaging.
• Grammarly Expands with Developer Platform: Grammarly is widely recognized as a tool for enhancing writing quality. Now, the company is enabling developers to integrate Grammarly’s technology directly into their own applications.
• This new developer product was recently announced. The financial implications of this new venture, and its potential impact on the company’s S-1 filing, are of particular interest.
• EverAfter Raises $13M, HRtech Remains Strong: EverAfter has developed a “no-code, customer-facing tool designed to simplify onboarding and employee retention,” as reported by our team.
• This is comparable to Sora, another startup previously covered by TechCrunch. Multiple funding rounds within the same sector indicate a strong market signal.
• Xendit Achieves Unicorn Status with Tiger Global Funding: Indonesian fintech company Xendit has reached unicorn status following a $150 million investment led by Tiger Global.
• It has been jokingly suggested that Tiger Global’s managing partners routinely provide $150 million tips during dinner outings.
• Regardless, the Jakarta-based fintech, specializing in payments, has ambitious expansion plans that are now financially supported.

The Question of Accepting Funding from Chinese Venture Capital

Founders currently seeking capital may question the prudence of collaborating with investors originating from China.

Denis Kalinin, Asia Business Development Manager at Runa Capital, analyzed data sourced from iTjuzi, a comprehensive database of Chinese venture capitalists, to explore this topic.

Shifting Investment Patterns

Kalinin’s research indicates that a reduction in international investments by Chinese venture funds is largely attributable to China’s comparatively swift economic recovery during the COVID-19 pandemic.

Geopolitical factors and the pandemic itself have influenced these investment strategies.

Key Findings from the Analysis

The analysis revealed several important trends regarding Chinese investment activity.

• Investments in Europe are now approaching levels seen in Asia and the United States.
• Corporate Venture Capital (CVC) firms constitute half of China’s leading cross-border investors.
• Fintech, deep tech, and digital health sectors are currently attracting significant investor interest.

These findings highlight a dynamic shift in the landscape of Chinese venture capital.

Potential Benefits of Chinese Investment

Despite potential concerns, Chinese investors can offer substantial benefits to foreign startups.

However, it is crucial to thoroughly evaluate their specific expertise and determine its relevance to the startup’s needs.

A careful assessment of investor capabilities is essential for maximizing the value of such partnerships.

(Extra Crunch is a membership program designed to empower founders and startup teams. Registration is available here.)

Big Tech Inc.

An important development regarding Big Tech is emerging from the U.S. government. A new nominee for the Federal Trade Commission (FTC) under the Biden administration is a strong advocate for digital privacy and has been publicly critical of large technology companies.

Recent Developments

Here's a breakdown of recent happenings within the tech sector:

• LinkedIn's Investment in Creators: LinkedIn, owned by Microsoft, is committing $25 million to a new program designed to support content creators. This “Creator Accelerator Program” aims to stimulate a greater volume of content on the platform. Furthermore, LinkedIn is expanding into live audio features.
• Starlink Satellite Expansion: SpaceX recently launched an additional 51 Starlink satellites into orbit. This expansion is particularly relevant for individuals contemplating relocation to areas with limited internet access, such as rural Montana, while maintaining employment.
• Spaceflight's Lunar Mission: Beyond the endeavors of Elon Musk’s space company, Spaceflight is also planning missions beyond Earth. They intend to offer customers a lunar flyby mission in the coming year, presenting a unique opportunity for space tourism. The cost of participation remains to be seen.

These developments highlight the ongoing evolution and competition within the technology landscape.

TechCrunch Experts: Growth Marketing

Startup founders are being contacted to share their preferred resources for current growth marketing strategies. Participation in the survey can be completed at this link.

A sample of the feedback gathered is presented below.

Marketing Professional: Andrew Race, from Juice.

Referral Source: Orin Singh, of Merchant Industry.

Quote: “Juice was initially recommended to us through a personal connection of our company’s owner. They extended a courtesy by assigning what they claimed was their most skilled professional to our account.

We initially assumed this was a standard statement, but it proved to be accurate. Andrew demonstrated a level of expertise far exceeding that of our prior marketing agency.

His deep understanding and eagerness to quickly grasp the nuances of our specific industry were instrumental in achieving a significant positive shift for our business.”

Key Takeaways

• The importance of referrals in finding quality marketing support is highlighted.
• Expertise and adaptability are crucial qualities in a growth marketing partner.
• A willingness to learn a new industry can be a significant differentiator.

Growth marketing requires specialized knowledge and a proactive approach. Finding the right expert can be transformative for a startup.

Engaging with the TechCrunch Community

The TechCrunch team maintains a strong presence on Twitter, facilitating both scheduled discussions and spontaneous interactions, such as those with the Equity team.

Tomorrow, Wednesday, September 15th, at 2:00 PM PDT / 5:00 PM EDT, the judges from the Disrupt Battlefield will host a conversation on Twitter Spaces.

Upcoming Twitter Spaces Event

A noteworthy event is scheduled for Thursday, September 16th, at 3:00 PM PDT / 6:00 PM EDT.

During this session, Danny Crichton will welcome Martin Ford, the author of “Rule of the Robots: How Artificial Intelligence Will Transform Everything.”

To ensure you don't miss any updates regarding news and events, it is recommended to follow the official TechCrunch Twitter account.

Image Credits: Basic Books

• Stay informed about the latest tech news.
• Participate in live discussions with industry experts.
• Receive timely announcements about TechCrunch events.

Active engagement with the TechCrunch Twitter feed provides a direct line to the pulse of the technology world.