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Daily Crunch: September 1, 2021

A daily digest of TechCrunch's most significant and impactful stories is delivered to inboxes each day at 3 p.m. PDT. You can subscribe to this roundup here.

A Change in Ownership

Greetings, and welcome to the Daily Crunch for September 1, 2021. Today marks a notable event in TechCrunch’s timeline, as the publication has transitioned to a new parent organization.

Further details regarding this change will be shared shortly. For now, we are excited about the opportunities this presents.

Networking at Disrupt

Attendees of the Disrupt conference are now able to utilize CrunchMatch. This platform facilitates connections with other attendees.

• CrunchMatch allows you to meet other interesting individuals.
• It’s a great way to expand your network during the event.

We look forward to seeing you at Disrupt and hope you take advantage of this networking tool! — Alex

TechCrunch Updates: A New Era and Market Movements

A significant shift has occurred at TechCrunch. We have transitioned from being a part of Verizon Media Group to now operating under Yahoo, which is itself owned by Apollo, a publicly traded investment firm.

This long-anticipated acquisition is now finalized, and further details regarding our new ownership will be shared as we establish contact with the Apollo team.

IPO and Acquisition Highlights

TechCrunch continued its coverage of the dynamic IPO landscape today, focusing on Amplitude and its product analytics-centered initial public offering.

Additional information regarding the filings of Toast and Freshworks can be found here and here, respectively.

For those interested in direct-to-consumer companies, details on Warby Parker’s filing are available here.

Vista Equity’s Investment in Drift

In other major news, Vista Equity is acquiring a majority stake in Drift, a Boston-based company specializing in “conversational” sales technologies.

The financial terms of the deal were not fully disclosed, though it was stated that the transaction values Drift at over $1 billion.

The rationale behind Drift’s decision to pursue acquisition by Vista rather than an IPO remains unclear, but the lack of an S-1 filing is somewhat disappointing.

Startups & Venture Capital Updates

The TechCrunch editorial team is currently covering the second day of startup presentations at Y Combinator’s Demo Day, generating extensive reports on the participating companies. Comprehensive coverage of yesterday’s pitches is already available for review.

Turning to today’s financial news, Berlin Brands, a company focused on acquiring and expanding Amazon-based brands, has achieved a valuation exceeding $1 billion following a $700 million funding round comprised of both equity and debt. Significant capital remains readily available for the acquisition of smaller e-commerce businesses.

Further demonstrating this trend, Forum Brands also announced new funding today. While their $100 million debt financing is less substantial than Berlin Brands’ recent raise, it still represents a considerable amount of capital.

Recent Funding Rounds

• Blueprint secures $16M to expand its title insurance operations: The U.S. title insurance market presents a significant opportunity. Blueprint aims to disrupt this market by providing more affordable coverage options for customers with multi-state, multi-property investments.
• Insurify raises $100M amid continued growth in insurtech marketplaces: Despite recent challenges faced by neoinsurance companies in public markets, the insurtech marketplace sector remains robust. Insurify, a competitor to Zebra and others, has secured $100 million in new funding.
• For a deeper dive into the insurtech venture capital landscape, additional reporting is available on TechCrunch.
• Call center automation is proving to be a lucrative field: Skit, a startup specializing in this area, has just completed a $23 million Series B funding round. Their technology, as reported by Kate Park, enables clients to automate a substantial portion of their voice-based customer support interactions.
• Humane, a relatively unknown company, attracts significant investment: Founded by former Apple employees, Humane is developing “a new class of consumer devices and technologies.” Despite currently lacking marketable products, the company has raised $100 million this week, adding to the $30 million secured last year.

Top Startups Emerging from YC’s Summer 21 Demo Day – Part 1

We regularly focus on the newest group of startups participating in Y Combinator as they present to the public.

During the YC Summer 2021 Demo Day, the accelerator hosted its fourth virtual event. Natasha Mascarenhas, Alex Wilhelm, Devin Coldewey, Lucas Matney, and Greg Kumparak chose 14 standout companies from the initial day of this globally recognized pitch competition.

Their detailed assessments are available for review, and a report on Day Two will be published later today.

(Extra Crunch is our subscription service designed to empower founders and startup teams. Registration is available here.)

Selection Highlights

The team’s selections represent a diverse range of innovative concepts and promising business models.

Each startup was evaluated based on its potential for growth, market disruption, and the strength of its founding team.

The following companies were identified as particularly noteworthy during the first day of the YC Summer 21 Demo Day.

Key Criteria for Evaluation

• Market Opportunity: The size and potential of the target market.
• Innovation: The uniqueness and novelty of the proposed solution.
• Team Strength: The experience and capabilities of the founding members.
• Scalability: The ability to grow the business efficiently.

These factors were central to the selection process, ensuring that the chosen startups demonstrate significant potential for success.

Looking Ahead

Further analysis of the YC Summer 21 Demo Day, including a review of Day Two’s presentations, is forthcoming.

This continued coverage will provide valuable insights for those interested in the latest trends and emerging companies in the startup ecosystem.

Big Tech Inc. – Recent Developments

Current news within the realm of Big Tech centers primarily on enhancements to existing features and services. Here's a summary of the latest updates.

Platform Updates and Initiatives

Several major platforms have announced new developments. These range from safety improvements to novel revenue streams for creators.

• Twitter: The multifaceted platform, encompassing microblogging, newsletters, subscriptions, and live audio, has introduced updated safety features. Additionally, users can now leverage the Super Follows functionality to monetize their content.
• Twitch: The live streaming service is currently addressing a streamer boycott. This action stems from numerous popular streamers experiencing targeted “hate raids.”
• Apple, Google, and Facebook: These tech giants are involved in various initiatives. Apple is developing digital driver’s licenses, Google is contesting regulatory decisions in France, and Facebook is pursuing the creation of in-house fantasy sports technology, furthering its ambition to encompass a wider range of online services.

Security Concerns

Recent research has highlighted potential vulnerabilities in smart home security systems. This raises concerns about the security of connected devices.

A widely used smart home security system has been found susceptible to remote disarming, according to researchers. This underscores the risks associated with relying solely on technology for home protection, as sophisticated actors may exploit vulnerabilities to gain unauthorized access.

The implications of this discovery suggest a need for increased vigilance and robust security measures within the smart home ecosystem. Ensuring the integrity of these systems is crucial for maintaining user safety and privacy.

TechCrunch Experts: Growth Marketing

Yesterday’s announcement included a giveaway of one complimentary ticket to Disrupt. Participation is available through the Experts survey. Review the Disrupt schedule and learn more about the details of this opportunity.

If you have already provided a recommendation, it is already being considered. All prior survey responses will automatically be entered into the drawing for the Disrupt ticket.

Giveaway Details

• The subsequent 100 survey submissions will also be included in the giveaway.
• While multiple recommendations are appreciated, we request that only one submission be made per marketing professional you’ve collaborated with.
• Unsure how to formulate your recommendation? Begin by detailing the individual’s key characteristics.

Describe the actions they took to benefit your organization and the resulting impact on your business. This will provide a strong foundation for your submission.

Each entry is reviewed manually. Therefore, please refrain from submitting identical responses repeatedly.

Questions regarding the giveaway can be directed to our editorial team via email at ec_editors@techcrunch.com.

We value your input and look forward to receiving your recommendations.

Community Engagement

Danny Crichton and Mary Ann Azevedo will be hosting a discussion on Twitter Spaces on Tuesday, September 7th.

The conversation is scheduled to begin at 3:00 PM PDT, which corresponds to 6:00 PM EDT.

Discussion Focus

Jonathan Metrick will be joining the hosts to explore topics related to fintech and growth marketing strategies.

This session offers an opportunity to gain insights into the intersection of financial technology and effective marketing approaches.

• Date: Tuesday, September 7
• Time: 3:00 PM PDT / 6:00 PM EDT
• Platform: Twitter Spaces
• Guests: Danny Crichton, Mary Ann Azevedo, Jonathan Metrick

Attendees can expect a dynamic exchange of ideas concerning current trends and best practices within these fields.