Apple Unleashed Event: M1 Chips, New MacBook Pros & More

Daily Crunch: October 18, 2021

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Welcome to Daily Crunch

Greetings and a warm welcome to Daily Crunch for October 18, 2021. Today featured a major event from Apple, resulting in extensive coverage detailed below.

Beyond Apple’s announcements, a variety of startup news and initial public offering (IPO) updates are also included. Let’s dive into the highlights!

– Alex

TechCrunch's Leading Three Stories

Here's a summary of the key announcements made by Apple today. The company unveiled updated AirPods, refreshed MacBook Pro models, and new chips, representing a broad range of product updates.

For consumers seeking a powerful Apple laptop, but not prioritizing extreme portability, today’s announcements were significant. However, the inclusion of a notch in the new designs may not appeal to all users.

Despite the product reveals, investor reaction on Wall Street was muted.

Amazon Faces Scrutiny Following Congressional Testimony

Amazon is currently addressing concerns raised after recent congressional testimony. The company previously stated it does not utilize data from its third-party marketplace to inform its own product development.

However, reports have surfaced indicating that this practice did occur. Amazon has reaffirmed its policy prohibiting such actions, even as former employees allege that violating this rule was commonplace.

This has prompted criticism from Congress, and Amazon is now under investigation for potentially prioritizing its own products over those of third-party sellers, despite prior denials.

A crucial point is that if Amazon struggles to enforce its internal policies due to its scale, it weakens the arguments of itself and other major tech companies facing increased regulatory oversight.

A Deep Dive into Expensify’s IPO Filing

This week saw another S-1 filing, this time from Expensify. The company, headquartered in Portland, Oregon, is demonstrating recovery from the impacts of the COVID-19 pandemic on its business operations.

Expensify is reporting revenue growth and a history of profitability, making its initial public offering (IPO) noteworthy. The final pricing of the IPO remains to be determined.

Startups/VC

Today's startup news begins with an invitation for companies developing solutions within the Middle East and North Africa (MENA) region to connect with us.

• Understanding the IPO Process: For startup founders considering a public offering, valuable insights are now available. We recently hosted a discussion with industry experts, encompassing both investor and operational viewpoints. This resource can provide a significant advantage as you plan for the future.
• TripleBlind Secures $24M for Data Encryption: Maintaining data privacy is becoming increasingly vital for organizations globally, particularly to avoid regulatory penalties or consumer concerns. TripleBlind has developed a system that allows for data sharing while ensuring it remains encrypted and within the owner’s secure network, all while adhering to data protection laws. The company is headquartered in Kansas City, Missouri.
• Deel Demonstrates the Growth of Remote Hiring: Many early-stage startups now operate with distributed teams spanning multiple time zones and countries. However, managing a remote workforce presents challenges, especially concerning taxation. Deel simplifies this process for other businesses, and has recently raised $425 million, achieving a $5.5 billion valuation. This substantial investment underscores the belief that remote hiring will continue to expand.
• Allplants Aims to Redefine Frozen Meals: Traditionally, convenience foods requiring microwave preparation have been perceived as unhealthy. Allplants is challenging this notion with its line of vegan, ready-made meals delivered in a box. A Series B funding round led by Draper Esprit injected £38 million into the company. This represents a significant financial commitment. A product review will follow if a sample becomes available.
• Increased Accelerator Participation from African Startups: As the African startup ecosystem matures – relevant data can be found here – we are observing a growing number of startups from the continent joining global accelerator programs.
• Hurricane-Sailing Drone Boat Company Raises $100M: The company that recently navigated a drone sailboat directly into a hurricane has secured $100 million in funding.

These developments highlight key trends in the startup landscape, from data security and remote work to plant-based food and emerging markets.

Utilizing Customer Insights and Data for Product Refinement

It is uncommon for startups to launch with precisely the product initially conceived.

The ability to iterate effectively is crucial for companies in their early stages, yet it represents a skill that must be developed. To gain deeper understanding of how leaders can utilize data to expedite product development and categorize users into meaningful groups, Anna Heim consulted with:

• Jean-Denis Grèze, the Chief Technology Officer at Plaid
• Stephanie Mencarelli, Vice President of Product Design at InVision
• Pete Thompson, Senior Vice President & Chief Product Officer at eBay

The iterative process is fundamental to success.

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

Big Tech Inc.

Recent developments highlight significant investments and expansions within the technology sector.

Amazon and Zoox Autonomous Driving

• Amazon is broadening the testing phase for its Zoox autonomous vehicle technology.
• The expansion of trials now includes the Seattle region.
• This move follows Amazon's acquisition of Zoox, clarifying the strategic rationale behind the expansion.
• Future testing is anticipated in Providence.

Toyota's Battery Production Investment

Toyota has committed a substantial $3.4 billion to bolster its battery production capabilities.

This investment signifies a major push towards battery development and manufacturing within the United States.

The funding will be allocated through the end of the decade, reflecting a long-term commitment.

This initiative underscores the declining prominence of internal combustion engines in the automotive industry.

The scale of investment indicates the rapidly growing importance of the battery market.

This development will likely have considerable implications for mining operations related to battery materials.

TechCrunch Seeks Growth Marketing Professionals

TechCrunch is currently soliciting recommendations for accomplished growth marketers.

Specialized skills sought include proficiency in SEO, social media marketing, and content creation.

Growth Marketer Survey

Growth marketers are encouraged to share a survey link with their clients.

TechCrunch aims to gather insights into client satisfaction and the value provided by these marketing professionals.

Related TechCrunch+ Article

Interested parties can explore a related article published on TechCrunch+ authored by Jonas van de Poel.

The article, titled “Smart growth tactics can put account-based marketing within reach for startups and SMBs,” details effective strategies for expanding market reach.

• The article focuses on making account-based marketing accessible to smaller businesses.
• It highlights intelligent growth approaches.

This initiative seeks to identify and showcase top talent in the growth marketing field.

Engage with the Community

Walter Thompson will be hosting a question-and-answer session on Twitter Spaces tomorrow, October 19th. The event is scheduled to begin at 3 p.m. Pacific Daylight Time, or 6 p.m. Eastern Daylight Time.

The focus of this session will be to provide insights into the criteria TechCrunch uses when evaluating submissions for guest posts.

Q&A Details

• Host: Walter Thompson
• Platform: Twitter Spaces
• Date: October 19
• Time: 3 p.m. PDT / 6 p.m. EDT
• Topic: Guest contribution guidelines for TechCrunch

This is an excellent opportunity to learn directly from a TechCrunch representative about how to increase your chances of having your work published.

Participants will gain valuable knowledge regarding the types of content TechCrunch seeks and the qualities of successful guest contributions.

TC Sessions: SaaS – An Event Preview

TechCrunch is hosting TC Sessions: SaaS on October 27th. This event will provide an in-depth exploration of the software as a service industry.

The conference agenda includes presentations from industry leaders such as SAP and Databricks.

What to Expect at TC Sessions: SaaS

Attendees can anticipate a comprehensive program focused entirely on the SaaS model. A key component of the event will be pitch sessions, showcasing innovative SaaS startups.

These sessions offer a unique opportunity to discover emerging companies and the latest trends.

Event Details and Registration

TC Sessions: SaaS promises to be a memorable conference for anyone involved in the software industry.

Ticket prices begin at $35. Secure your place by booking your tickets now.

• Date: October 27
• Focus: Software as a Service (SaaS)
• Featured Companies: SAP, Databricks, and emerging startups
• Tickets: Starting at $35