Oura Ring Launches Smaller Wearable for Fitness Tracking | Daily Crunch

Daily Crunch: December 3, 2021

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Greetings, and welcome to today’s Daily Crunch for December 3, 2021. The day’s trading activity left many feeling fatigued, but the challenges faced by DocuSign and Didi were considerably more substantial.

Didi’s Situation

The circumstances surrounding Didi warrant a closer look. The company experienced a particularly difficult day, and understanding the reasons behind this is crucial.

Let's delve into the details of what transpired with Didi. A comprehensive review of the events will provide clarity on the situation.

—Alex

TechCrunch's Top 3 Updates

Here's a rundown of the most significant tech news from TechCrunch today, covering developments in ride-hailing, the creator economy, and the video platform landscape.

Didi's Delisting and Market Shifts

Didi, the prominent Chinese ride-hailing service, has announced its intention to delist from U.S. stock exchanges. Instead, the company plans to pursue a listing in Hong Kong.

This decision follows a series of challenges and regulatory scrutiny. The Didi IPO, similar to the unsuccessful launch of Ant Group, could be remembered as a key moment in the increasing separation of the Chinese market from the global economy.

Exploring the Creator Economy

Amanda Silberling’s recent article provides valuable insight into the evolving creator economy. The global popularity of Netflix’s “Squid Game” has inspired numerous imitations.

Notably, YouTuber MrBeast has emerged as a significant player, creating content that builds upon existing trends. Silberling’s piece examines the YouTube ecosystem and how attention-grabbing stunts can amplify pre-existing content, making it a worthwhile read.

Rumble's SPAC Deal and Platform Competition

The trend of companies going public through SPACs (Special Purpose Acquisition Companies) continues. This week, Rumble, a video hosting platform known for attracting right-leaning content creators, announced its plans to go public via a SPAC merger.

Similar to the Trump Technology deal, Rumble has articulated an ambitious long-term strategy: to directly compete with established internet giants like Amazon and Microsoft. The challenge ahead for Rumble will be substantial.

Startups and Venture Capital Updates

Oura Ring Analysis: TechCrunch’s Brian Heater provides insightful commentary on the Oura Ring 3. He positions it not as a competitor to the Apple Watch, but rather as a sophisticated alternative to traditional fitness trackers.

Considering my personal use of an Apple Watch primarily for fitness tracking – with non-essential notifications disabled – I concur with Heater’s assessment.

Funding News

Vinehealth Secures Funding: The London-based digital health company, Vinehealth, has successfully raised $5.5 million in a pre-Series A funding round.

This capital injection will enable the startup to expand its operations and further develop its app. The app provides tailored support for cancer patients and streamlines the collection of patient-reported outcome data.

Umamicart’s Growth: Umamicart, a company specializing in the delivery of Asian ingredients, has announced a $6 million funding round.

This investment will be used to fuel continued growth and expand its service offerings.

Innovative Approaches

Zindi’s Community-Driven AI: Zindi is pioneering a unique approach by combining the power of community collaboration with artificial intelligence to tackle complex data challenges.

The South African company leverages collective intelligence to solve intricate data problems, as detailed in a recent TechCrunch article.

Additional Resources

For those seeking audio content, a new episode of Equity is now available, offering further insights into the startup ecosystem.

This episode provides valuable perspectives on current trends and developments in the venture capital landscape.

Expanding Engineering Recruitment Beyond LinkedIn

Image Credits: the_burtons (opens in a new window) / Getty Images

LinkedIn recently introduced support for Hindi-speaking users, extending its reach to roughly 500 million individuals in India and an additional 100 million globally.

Despite the abundance of skilled developers in developing nations, a significant portion doesn't actively utilize the professional networking platform favored by many startup recruitment teams.

Furthermore, a considerable number of developers express a disinclination towards social media platforms in general. Therefore, alternative strategies are needed to connect with these individuals.

Currently, the demand for technical talent is exceeding the supply. Diversifying recruitment efforts is therefore crucial for success.

The following three strategies can help startups enhance their hiring processes and attract a wider range of qualified candidates.

(Access to TechCrunch+ requires a membership, designed to support founders and startup teams in achieving their goals. Registration is available here.)

Reaching Untapped Talent Pools

Traditional recruitment methods often overlook promising engineers who maintain a low profile on platforms like LinkedIn. Expanding your search beyond conventional channels is essential.

Consider that many developers intentionally limit their social media presence. Relying solely on LinkedIn will inevitably exclude a substantial segment of the talent pool.

Diversifying Sourcing Strategies

To effectively reach developers who aren't active on LinkedIn, explore alternative sourcing methods. This proactive approach can yield significant results.

Focus on platforms and communities where developers congregate, such as specialized forums, open-source project hubs, and technical conferences.

• Participate in relevant online communities.
• Sponsor or attend industry events.
• Contribute to open-source projects.

These activities demonstrate your company’s commitment to the developer community and can attract attention from passive candidates.

Leveraging Niche Job Boards

General job boards often get lost in the noise. Utilizing niche job boards specifically catering to developers can significantly improve visibility.

These platforms attract a highly targeted audience, increasing the likelihood of connecting with qualified candidates. Consider boards focused on specific technologies or programming languages.

Big Tech Inc.

The expansive reach of companies like Facebook often leads to the integration of new features into their existing platforms. Recently, Facebook Messenger has been undergoing testing for a payment splitting function.

This addition isn't unexpected, given the potential for leveraging Facebook’s massive user base. The new feature will allow users to divide expenses and bills directly within the Messenger application.

Facebook Messenger Payment Splitting

Functionally, the capability mirrors services such as Venmo and Splitwise. Users will be able to easily share costs with contacts through the app.

Tech Stock Market Correction

A significant downturn impacted tech stocks this week, with DocuSign leading the decline. This selling pressure has pushed software stocks into a bear market.

While valuations remain elevated compared to historical norms, the current market conditions suggest a potential cooling of investor enthusiasm.

Pinduoduo's Agricultural Initiative

In a surprising move, Chinese e-commerce leader Pinduoduo launched a substantial agricultural program in August. The company is dedicating significant resources and attention to this new venture.

Pinduoduo has stated that the program will not be focused on generating profit. Instead, any earnings from the second quarter and subsequent periods will be reinvested into the initiative, as reported by TechCrunch.

One interpretation of this strategy is that it allows Pinduoduo to align with the Chinese government’s emphasis on “common prosperity” while maintaining its core technological focus.

This approach enables the company to demonstrate social responsibility and contribute to national priorities.

TechCrunch Seeks Growth Marketing Professionals

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

Request for Client Feedback

Growth marketers are encouraged to share a survey with their clients. TechCrunch aims to gather insights into positive client experiences and the reasons behind them.

The survey focuses on understanding why clients have been satisfied with the services provided by growth marketing professionals.

Areas of Expertise

• SEO (Search Engine Optimization)
• Social Media Marketing
• Content Writing
• General Growth Marketing Strategies

Participation from both growth marketers and their clients is requested to ensure a comprehensive understanding of successful marketing partnerships.

TechCrunch’s initiative intends to highlight effective growth marketing practices and the professionals who deliver them.

By collecting direct feedback, TechCrunch hopes to identify and showcase top talent in the growth marketing field.