Chalo Acquires Shuttl: Indian Mobility Startup Expands

Daily Crunch: October 26, 2021

A daily summary of TechCrunch’s most significant and impactful stories can be delivered directly to your inbox each day at 3 p.m. PDT. You can subscribe to this service here.

Greetings, and a warm welcome to Daily Crunch for October 26, 2021! Tomorrow marks the beginning of our one-day SaaS event – perhaps it's best described as an extravaganza.

SaaS Event Anticipation

I am incredibly enthusiastic about the upcoming event. Currently, I am pausing my preparation of questions for our panel discussion centered around data (featuring DataRobot, Monte Carlo and AgentSync) to compose this newsletter for our readers.

This panel promises to be particularly insightful and engaging. We anticipate a lively discussion with these industry leaders.

We look forward to seeing you at the event! — Alex

TechCrunch's Leading Three Stories

This report details the top three stories covered by TechCrunch, offering insights into venture capital, regulatory changes, and the public market performance of a fast-casual restaurant chain.

Sequoia's Strategic Reorganization

The venture capital landscape is evolving, with capital becoming increasingly accessible and competition intensifying. Standing out amongst venture firms is proving difficult.

Challenges such as startups remaining private for extended periods and limitations on investment strategies are also impacting the industry. Sequoia is implementing a new approach to address these shifts.

FCC Leadership and Net Neutrality

Jessica Rosenworcel has been appointed to lead the U.S. Federal Communications Commission, marking a historic moment as the first woman to hold this position.

This appointment is viewed as both a positive development and a reflection of past shortcomings in governmental diversity. Gigi Sohn, a recognized advocate for net neutrality, has also been nominated to the FCC.

Sweetgreen's IPO Analysis

Sweetgreen, a fast-casual food chain backed by significant venture capital funding, has filed for an initial public offering (IPO).

TechCrunch’s analysis of the company’s financial data reveals that Sweetgreen has successfully identified a market need. However, the company currently experiences substantial financial losses.

Rent the Runway IPO Update

As this newsletter is distributed, Rent the Runway is expected to have finalized the pricing for its IPO.

Initial assessments of the business are available, with a more comprehensive analysis to follow shortly.

Startups & Venture Capital Updates

A significant amount of startup-related news has emerged recently. TechCrunch recently investigated the American Midwest, gathering insights from CEOs and investors regarding the effects of the current fundraising environment and the stabilization of global talent and capital markets on startups in the region.

Recent Startup Activity

• DeHaat Secures Funding: The Indian AgTech company, DeHaat, has attracted attention with a recent funding round. The company operates an online platform providing comprehensive agricultural services to farmers throughout India. Its large target market ensures substantial total addressable market potential.
• Gusto Acquires RemoteTeam: Gusto, a U.S.-based HR and payroll solutions provider, announced the acquisition of RemoteTeam. This strategic move aims to facilitate increased international hiring capabilities, responding to the growing trend of a globally distributed tech workforce.
• DealShare Pursues Additional Capital: Reports indicate that DealShare, an Indian social commerce platform, is poised to receive further investment. Tiger Global and Falcon Edge Capital are reportedly considering a substantial investment, potentially exceeding $225 million, which would value the company as a unicorn.
• LogicBroker Gains Significant Investment: Connecticut-based startup LogicBroker secured $135 million in funding. The company specializes in software solutions for the shipping and e-commerce industries, particularly focusing on drop-shipping, and now possesses considerable financial resources.
• Piiano Raises Funds for Data Security: Piiano, a company focused on protecting personally identifying information (PII), has raised $9 million in funding. It operates in the competitive data protection market, alongside companies like Skyflow, capitalizing on the increasing demand for robust data security solutions.
• SoftBank Invests in Pipefy: SoftBank has invested $75 million into Pipefy, a low-code workflow management startup. This investment signifies a shift in SoftBank’s investment strategy towards more practical and established business models.

Beyond these highlights, Fabric raised $200 million to advance robotic solutions for e-commerce fulfillment. Furthermore, Chalo, an Indian busing startup, completed an acquisition of another company in the same sector.

Jay-Z’s venture capital firm successfully closed its second fund, and Devo secured $250 million in funding driven by the increasing global demand for cybersecurity measures.

Finally, TechCrunch published an insightful article exploring the complexities surrounding the intersection of fiction, online communities, NFTs, and copyright law.

Achieving Alignment: How CISOs Can Secure C-Suite Support

Typically, the role of the chief information security officer goes unnoticed during routine operations. However, in the event of a security incident, all eyes immediately turn to this individual for accountability and resolution.

Maintaining robust security protocols and ensuring consistent adherence to secure practices across the organization presents a significant challenge. This is often exacerbated by the fact that many CISOs lack direct involvement in key executive-level decisions.

Sean McDermott, the founder and CEO of RedMonocle, emphasizes the importance of tailoring communication to resonate with executive priorities.

He suggests that CISOs should articulate the business value of cybersecurity investments, framing them in terms that are relevant to each leader’s specific objectives.

Understanding the perspectives of other executives is paramount to gaining their support.

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

Big Tech Inc.

Recent developments indicate a proactive stance from several major social media platforms regarding user safety and data transparency.

Specifically, TikTok, Snap, and YouTube have presented new product modifications to Congress, aiming to enhance protections for younger users.

This move appears to be a deliberate effort to distinguish themselves from Facebook, which has faced criticism for perceived delays in addressing issues and a lack of transparency.

However, TikTok demonstrated some reluctance in fully disclosing details concerning data handling practices during the congressional hearing.

Expansion of Apple Services

Apple is preparing to extend the availability of its bundled subscription service, Apple One Premier, to an additional 17 markets starting in early November.

This comprehensive package encompasses Apple Music, Apple TV+, Apple Arcade, Apple Fitness+, and 2 TB of iCloud storage, all offered at a single, fixed price.

Observers have also noted a perceived decline in the creativity and memorability of recent Apple product naming conventions.

Adobe's Continued Cloud Focus and NFT Integration

Adobe has announced a series of updates, reinforcing its commitment to cloud-based services and adapting to emerging technologies.

Notably, the company is integrating support for NFTs (Non-Fungible Tokens) into its suite of products.

This addition reflects a broader industry trend towards incorporating blockchain-based assets into creative workflows.

The company’s ongoing cloud strategy remains a central component of its overall business direction.

TechCrunch Seeks Growth Marketing Professionals

TechCrunch is currently soliciting recommendations for skilled growth marketers. Expertise in areas such as SEO, social media marketing, and content creation is highly valued.

Request for Recommendations

The publication invites individuals to suggest growth marketers with a proven track record. If you are a growth marketer yourself, please share this survey with your clients.

TechCrunch is interested in gathering feedback directly from clients regarding their positive experiences with these professionals.

Survey Focus

The survey aims to understand the reasons clients appreciate the services provided by their growth marketing partners. Specifically, it seeks insights into the value delivered in areas like content writing and social media strategy.

• SEO proficiency is a key area of interest.
• Client testimonials are highly sought after.
• The goal is to identify top-performing growth marketers.

By collecting this information, TechCrunch intends to highlight exceptional talent within the growth marketing field. Participation from both marketers and their clients is encouraged.