Nigeria to Lift Twitter Ban?

Daily Crunch: October 1, 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 here to receive this update.

Greetings, and welcome to the Daily Crunch for October 1, 2021. It has certainly been a noteworthy week.

Looking Ahead

As the third quarter of 2021 concludes, preparations are underway for the upcoming earnings season. We also anticipate the release of new venture capital data.

Furthermore, there is hope for another initial public offering (IPO) cycle before the year's end. With the holiday season beginning in approximately 1.5 months, time is of the essence.

Therefore, staying informed with TechCrunch is crucial. We are dedicated to providing comprehensive coverage of the tech industry.

– Alex

The TechCrunch Top 3

Recent developments indicate that Nigeria is considering lifting its ban on Twitter, contingent upon the platform fulfilling specific requirements.

While some conditions have already been tentatively accepted, others, such as the establishment of a Twitter office within the country, remain uncertain.

This situation is significant, as it mirrors similar actions by other nations to restrict or influence the social media service; China maintains a complete block, while India has employed more coercive tactics.

In related Twitter news, the company is preparing to launch a dedicated service tailored for professional users.

Alternative Funding for Startups

TechCrunch regularly monitors the financial investments made in startups by venture capital firms.

However, it’s important to note that not all funding for startups originates from equity sales.

The avenues available for startups to secure alternative funding are becoming increasingly sophisticated, which is a positive trend for emerging tech companies globally.

Further details regarding the increasing flow of capital into startups can be found here.

Oyo's Public Offering

The potential for a robust Q4 IPO season is gaining momentum, with Oyo initiating the process of going public.

The company’s initial public offering is projected to generate over $1 billion.

TechCrunch provides an in-depth analysis of the filing, noting that Oyo, a company backed by SoftBank, has faced certain growth challenges in recent years.

Startups & Venture Capital Updates

Significant investment is flowing into the ghost kitchen sector. All Day Kitchens, a company providing delivery preparation infrastructure for smaller restaurants, has secured $65 million in a new funding round.

This recent capital injection elevates All Day Kitchens’ total fundraising to over $100 million, a substantial amount within the food technology landscape.

Funding Highlights

The rationale behind the venture capital investment in this space isn't immediately clear, but the funding demonstrates strong investor confidence.

The influencer marketing arena continues to attract attention. ProductWind, a startup focused on streamlining connections between brands and influencers, has raised $1.67 million.

ProductWind’s platform reportedly enables brands to connect with influencers with a single click, simplifying campaign management.

Decentralized Autonomous Organizations (DAOs) are gaining traction within the tech community. Utopia Labs has secured $1.5 million to support its DAO infrastructure development.

DAOs represent a novel blend of capitalist principles and democratic governance, potentially fostering a more harmonious relationship between the two systems.

The company’s name reflects this vision of a more ideal future, acknowledging the importance of aspirational thinking.

LeadIQ, a provider of sales software, has successfully closed a $30 million funding round. The platform is designed to automate repetitive tasks for sales representatives.

By automating data entry, LeadIQ aims to empower sales teams to focus on more strategic and creative activities.

Furthermore, LeadIQ intends to enhance data integration between sales and marketing departments, potentially leading to improved sales performance.

TechCrunch+ Insights

Recent articles from TechCrunch+ stemming from the Disrupt conference offer valuable insights. These include discussions with Reid Hoffman on blitzscaling strategies.

Additional coverage explores optimal strategies for deploying newly acquired capital and analyzes the impact of the current hiring market on startup spending.

Finally, guidance on scaling scientific ventures is also available, providing a comprehensive overview of key considerations for science-based startups.

Ben Rubin on How Web3 Social Media Could Enable Universal Compensation

Defining Web3 remains a challenge as the technology continues to evolve and mature.

During TechCrunch Disrupt, Ben Rubin, the creator of Houseparty, highlighted decentralization as the defining characteristic of Web3. Currently, within the Web 2.0 framework, users contribute both financial resources and personal information to network providers in return for access to services.

Rubin explained, “Web3 presents the potential – though its full realization isn’t guaranteed – for the network itself to be owned by the network.” He believes this represents the core principle in its most concise form.

Rubin, speaking with journalist Taylor Hatmaker, noted that NFTs demonstrate the potential for individual gains through Web3 implementation. He contrasted this with decentralized finance and cryptocurrency exchanges, which he characterized as more commercially driven applications.

He stated, “While not flawless, Web3 promises improved incentive structures compared to the current system. This will foster competition in how platforms align their interests with those of their users.”

This improved alignment is expected to lead to a more equitable distribution of value.

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

Big Tech Inc. – Recent Developments

Recent events have brought several key developments within the technology sector to light. These range from challenges faced by space exploration companies to software updates and shifts in major business deals.

Blue Origin Facing Scrutiny

Blue Origin, the spaceflight company founded by Jeff Bezos, is currently addressing serious allegations. These concerns involve both claims of a problematic workplace culture, specifically regarding sexism, and questions surrounding the safety of its technology.

The company has initiated damage control measures and is presumably focused on rigorous quality assurance procedures for its rockets. This situation represents a significant challenge for Blue Origin.

iOS 15 Watch Unlock Bug Fix

Apple users who experienced issues with Watch unlocking in iOS 15 can anticipate a resolution. A software fix is scheduled to be released, addressing the bug that caused this inconvenience.

Support for EU Disinformation Code

A number of prominent tech companies are demonstrating commitment to combating online disinformation. Clubhouse and Vimeo are among those preparing to endorse a strengthened version of the European Union’s Code of Practice on Online Disinformation.

This move signifies a growing industry-wide effort to address the spread of false information online. It is a noteworthy development in the ongoing battle against disinformation.

Zoom-Five9 Deal Terminated

The proposed acquisition of Five9 by Zoom has been officially cancelled. Several factors contributed to this outcome, including a potentially inadequate offer price from Zoom.

Declining share values following the initial agreement, coupled with concerns related to antitrust regulations and security, also played a role in the deal’s collapse. Despite these challenges, the intention to merge was present.

TechCrunch Seeks Recommendations for Top Growth Marketing Professionals

Image Credits: SEAN GLADWELL / Getty Images

TechCrunch is currently soliciting recommendations for skilled growth marketers. These professionals should demonstrate proficiency in areas like SEO, social media marketing, and content creation.

Growth marketers are encouraged to share this survey with their clients. We aim to gather insights into the positive experiences clients have had with their marketing partners.

Understanding TechCrunch’s Coverage of Growth Marketing

Those interested in learning more about how these surveys influence TechCrunch’s reporting can review a recent discussion. It features Anna Heim and Tuff, exploring the realities of growth marketing.

Ellen Jantsch of Tuff emphasizes that growth marketing isn’t a quick fix or an effortless solution; it requires strategic effort.

The interview highlights the importance of a data-driven and methodical approach to achieving sustainable growth.