Fintech Startup Sponsorship: Daily Crunch & Nigeria's Reality Show

Daily Crunch: November 22, 2021

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A Holiday Week Kickoff

Greetings and a warm welcome to Daily Crunch for November 22nd. It's a holiday week in the United States, and we anticipate a high volume of news coverage through midday on Wednesday.

Following that timeframe, many Americans will be disconnecting from the internet to enjoy the holiday festivities. Consider this a friendly warning: communication attempts may be unsuccessful as we prioritize relaxation and celebration!

— Alex

TechCrunch's Notable Updates

Here's a look at three key stories covered by TechCrunch today, offering insights into the evolving tech landscape.

Royal: Blending NFTs and Music Ownership

Royal, a novel startup merging NFTs, fractional ownership models, and music rights, recently secured a $55 million funding round.

This substantial investment follows a previous raise of $16 million just last month, representing significant capital influx.

A pertinent question arises: Why do cryptocurrency-based startups often necessitate such considerable funding for standard operational activities?

League of Legends Maintains Strong Viewership

TechCrunch’s recent analysis of the League of Legends (LoL) Worlds tournament reveals the game’s continued dominance in the esports arena.

Despite Team Liquid’s challenges in the tournament, viewership figures remain impressively high.

The report also highlights LoL’s collaborative efforts with the NBA, underscoring the game’s broad appeal and reach.

This serves as a valuable reminder of the enduring size and influence of the esports industry, even with a relative decrease in startup activity within the sector.

Paytm's IPO Performance and Valuation

Following a highly anticipated public offering, Indian fintech company Paytm has experienced difficulties in maintaining its initial market valuation.

The stock price declined on its first day of trading and continued to fall today, following a market downturn in India last Friday.

A thorough review of Paytm’s financial data suggests that the initial IPO was simply priced incorrectly.

Startups & Venture Capital Updates

The current landscape indicates significant investment in the creator economy. Recent activity demonstrates a strong appetite for funding companies operating within this space.

Creator Economy Funding

LTK, a platform facilitating shoppable posts for social media influencers, has secured $300 million in funding led by SoftBank. This investment values the company at $2 billion.

Insurtech Expansion in Africa

FSD Africa is actively working to strengthen the insurtech sector across the African continent. Plans are underway to launch accelerator programs in both Ghana and Nigeria next year.

Cybersecurity Acquisition

Schwarz Group, a major European retail organization, has acquired XM Cyber, an Israeli cybersecurity startup, for $700 million. This acquisition aims to bolster the group’s security infrastructure.

Cloud Visualization Funding

AutoCloud, the developer of the CloudGraph open-source project, has successfully raised $4 million in capital. Investments in companies leveraging open-source components continue to be prevalent.

Fractional Real Estate Investment

Fractional is offering a novel approach to real estate investment, enabling individuals to collectively purchase properties with friends. This model provides an alternative to traditional home buying.

Global Tax Compliance Solutions

Fonoa has secured $20.5 million in funding to address the complexities of global tax compliance for businesses. The company aims to simplify tax obligations for companies with international customer bases.

Render's Series A Funding

Render, a winner of the TechCrunch Battlefield competition, has raised a $20 million Series A round. This funding reflects the continued demand for robust DevOps tooling.

Innovative Marketing Strategies

African fintech startup Abeg experienced a substantial increase in user acquisition after sponsoring a reality TV show. This demonstrates an effective alternative to traditional advertising methods like Facebook ads.

Retro Tech Revival

A new retro handheld gaming device is currently in development, offering a nostalgic experience for gaming enthusiasts. This project combines classic aesthetics with modern technology.

Key Takeaways

• The creator economy remains a highly attractive investment area.
• Insurtech is experiencing growth, particularly in emerging markets.
• Cybersecurity continues to be a priority for large organizations.
• Open-source projects are attracting significant funding.
• Innovative approaches to real estate investment are gaining traction.
• Global tax compliance is a growing concern for businesses.
• Effective marketing strategies extend beyond traditional digital advertising.

Essential Board Slides for SaaS Sales and Revenue Leadership

Bill Binch, currently a partner at Battery Ventures, previously served as the chief revenue officer at Pendo, a leading product analytics application.

During his tenure, a key responsibility was delivering quarterly reports to the company’s board regarding growth and revenue performance.

Binch recalls advice from a mentor: promotions aren’t earned in board meetings, but terminations certainly can occur following them.

He has outlined five crucial slides that sales and revenue teams should prioritize for effective board communication:

• Key performance indicator (KPI) summary.
• A comprehensive, five-quarter outlook.
• Breakdown by customer segments, regions, and industries.
• Sales pipeline analysis.
• Assessment of sales team well-being.

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

Understanding the Core Slides

1. Headline Reel

This slide should present a concise overview of the most important metrics. Key performance indicators should be immediately visible and easily understood.

Focus on the numbers that truly drive the business and demonstrate progress towards strategic goals.

2. Detailed, Five-Quarter View

A five-quarter view provides context and reveals trends. It allows the board to assess not just current performance, but also the trajectory of growth.

This perspective is vital for forecasting and strategic planning.

3. Segments, Geographies and Verticals

Disaggregating data by customer segments, geographic locations, and vertical industries offers valuable insights.

It highlights areas of strength and weakness, enabling targeted strategies.

4. Pipeline Analysis

The sales pipeline is the lifeblood of a SaaS business. This slide should detail the current state of the pipeline, including stage, value, and conversion rates.

A healthy pipeline indicates future revenue potential.

5. Sales Team Health

Beyond metrics, the board needs to understand the health of the sales organization. This includes factors like attrition, ramp time, and morale.

A strong and motivated sales team is essential for sustained success.

Big Tech Inc.

Recent developments indicate a shift in strategies within the tech landscape. Several key companies are making moves that could redefine their market positions.

Live Shopping on Twitter

Live shopping is being introduced to Twitter, with Walmart designated as its initial retail collaborator. While the integration may not appeal to all users, particularly those who primarily utilize the platform for information consumption, it represents a strategic expansion for Twitter.

The decision reflects Twitter’s attempt to diversify its revenue streams and tap into the growing trend of social commerce, a model already prevalent in several Asian countries.

Astra's Orbital Success

Astra, a space launch company, has achieved a significant milestone with a successful orbital launch. Unlike many startup ventures where progress is incremental, rocket launches present a clear binary outcome: orbit or failure.

Following a previous unsuccessful attempt, Astra’s recent launch has paved the way for further testing and development, demonstrating resilience and progress in the competitive space industry.

Ericsson's Acquisition of Vonage

Ericsson, a global leader in networking technology, has finalized the acquisition of Vonage, a cloud communications provider, in a transaction valued at $6.2 billion.

Both companies, while once prominent names in their respective fields, have experienced periods of relative quiet. This merger aims to revitalize their market presence and generate increased revenue.

The combined entity is expected to leverage synergies between networking infrastructure and cloud-based communication services, potentially creating a more comprehensive and competitive offering.

TechCrunch Experts

Did you have a chance to review last week’s articles focusing on growth marketing and software development? The previous coverage can be found here if you missed it.

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

Seeking Growth Marketer Recommendations

If you are a growth marketer yourself, please share this survey with your clients. We are interested in gathering feedback regarding positive client experiences.

We want to understand the reasons clients appreciate the services provided by growth marketing professionals.

• The survey focuses on client satisfaction.
• It aims to highlight successful growth marketing strategies.
• Feedback will help identify top performers in the field.

Your participation will contribute to recognizing exceptional talent within the growth marketing community.