Salesforce Slack Integration: Initial Updates - Daily Crunch

Daily Crunch: August 17, 2021

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Greetings, and welcome to today’s Daily Crunch for August 17, 2021. We’ve compiled a particularly noteworthy selection of startup news today.

Global Startup Landscape

Our coverage extends beyond domestic boundaries, offering an international viewpoint. We are examining the IPO activity within Brazil and the evolution of its fintech sector.

Furthermore, we’re analyzing the future trajectory of Nigeria’s rapidly expanding startup ecosystem. Africa’s startup scene is demonstrating significant momentum.

TC Events Update

Demo tables are now open for registration for our October TC Sessions: SaaS 2021 event. We are also developing substantial plans for biotech coverage at Disrupt.

Now, let’s proceed to the latest news. — Alex

TechCrunch's Top 3 Developments

Here's a rundown of the most significant tech news as reported by TechCrunch.

Salesforce and Slack Integration

Salesforce is beginning the process of integrating with Slack, as highlighted by Ron Miller. The substantial $28 billion acquisition of Slack necessitated a clear strategic vision.

The CRM leader has now unveiled initial integrations designed to benefit large enterprises utilizing both platforms. These new tools include features like "dedicated deal rooms," functioning similarly to huddles but focused on specific sales initiatives.

Renewed Investment in Travel Tech

Funding is once again flowing into travel startups, evidenced by Hopper’s recent $175 million funding round. This new investment values the company at $3.5 billion.

Despite ongoing concerns regarding COVID-19 resurgences in various regions, Hopper reports strong performance. This is attributed to the popularity of its products that support more adaptable travel arrangements.

Continued Venture Capital Interest in Crypto Exchanges

Bitpanda, a cryptocurrency trading platform, has secured $263 million in funding, achieving a $4.1 billion valuation. This represents a continuing pattern observed by TechCrunch of substantial investments in crypto exchanges.

The driving force behind this trend is the remarkable success of Coinbase, particularly its recent financial performance and public listing. Investors are actively seeking to identify and fund the next major player in the cryptocurrency exchange space.

Startups/VC

TechCrunch has demonstrably increased its coverage of the African startup ecosystem in recent quarters. However, recent developments in a significant African tech hub are causing concern, as reported by Tage Kene-Okafor.

Proposed new regulations in Nigeria are viewed as potentially detrimental to the growth of the tech sector.

• OnlyFans diversifies with a safe-for-work app: While primarily recognized for its adult content platform, OnlyFans is expanding its reach.
• The company is launching an app specifically designed for non-explicit content, allowing creators to share work-appropriate material.
• This initiative aims to showcase the broader range of content available on OnlyFans.
• Maven achieves unicorn status: Following a $110 million funding round led by Dragoneer Investment Group and Lux Capital, Maven has reached a $1 billion valuation.
• This milestone is particularly noteworthy for women’s health and female-led startups, as highlighted by Natasha Mascarenhas.
• Maven specializes in providing comprehensive support for women’s healthcare needs.
• Nuvemshop’s valuation soars: Nuvemshop, a Brazilian e-commerce platform comparable to Shopify, is now valued at $3.1 billion.
• This valuation comes after a $500 million funding round co-led by Insight Partners and Tiger Global Management.
• Aurora Propulsion Technologies tackles space debris: The growing problem of space junk is being addressed by Aurora Propulsion Technologies, a Finnish company.
• They are developing thrusters and de-orbiting modules for small satellites to mitigate the issue.
• Rocket Lab is managing the launch operations for this initiative.
• Split.io secures $50M for feature flag technology: Feature flags are essential for testing new application features with select user groups.
• Split.io, a leading provider of feature flag solutions, has received $50 million in funding to further develop its platform.
• Monte Carlo demonstrates the strength of the data market: Data observability startup Monte Carlo has closed a $60 million round at four times its previous Series B valuation.
• The company has experienced an impressive 8x growth in Annual Recurring Revenue (ARR) over the past year.
• This success underscores the continued investment potential in high-growth software companies.
• And finally, advancements continue in the realm of automated food preparation, including robotic pizza delivery systems.

The Implications of Brazil's Updated Receivables Regulations for Fintech Companies

A significant overhaul of payment processing procedures by the Brazilian Central Bank has the potential to substantially expand e-commerce opportunities within South America’s largest economy.

Previously, businesses accepting credit card transactions were generally limited to two choices: accepting full payment spread across a period of two to twelve installments, or providing a substantial discount for immediate, reduced payment.

New Regulations and Competitive Offers

However, in June 2021, the BCB introduced new “registration entities.” These entities allow “any interested party seeking to purchase receivables to submit a bid for those receivables.”

This system compels buyers to enhance the competitiveness of their discount rates, as explained by Leonardo Lanna, head of payment products at Monkey Exchange.

Benefits for Consumers, Sellers, and Fintechs

The revised framework provides advantages for both consumers and sellers.

For startups operating in the region, the changes “unlock a wide range of possibilities and innovative business models, spanning both payments and credit solutions.”

This creates a more dynamic and accessible financial landscape.

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

Big Tech Inc.

Apple is currently running a program known as the Impact Accelerator.

Recent reports from TechCrunch indicate that the company is focused on identifying and supporting minority-owned small businesses.

These businesses are specifically those addressing issues related to sustainability and climate change.

A preliminary cohort of 15 participants has already been chosen for the program.

Further details regarding the initiative are available.

Fintech and Traditional Banking

Concluding today’s technology news is a noteworthy trend occurring in reverse.

It was not long ago that fintech companies were actively challenging the established banking sector.

Now, a shift is taking place, with these same fintech entities acquiring banks.

This development can be viewed as a response to earlier competitive dynamics, representing a form of “revenge of the startups.”

This trend highlights the evolving relationship between fintech and traditional financial institutions.

TechCrunch Experts: Growth Marketing

Startup founders are being contacted to identify their preferred sources for current growth marketing strategies. Participation in the survey can be completed through this link.

A sample testimonial received is presented below.

Marketer: Jack Abramowitz

Recommended by: Frida Leibowitz, Debbie

Testimonial: “Jack demonstrates a helpful attitude, possesses keen insight, and is an exceptionally supportive professional. His commitment to providing assistance was evident even prior to establishing a formal engagement.

He consistently delivers value, whether through facilitating beneficial introductions or delving into the specifics of campaign planning. Jack actively collaborates with the team, readily engaging in detailed work.

He approaches each project with a sense of ownership and dedication.”

Community Engagement

An opportunity to connect with Danny Crichton is scheduled for Thursday, August 19th, at 2:00 PM Pacific Daylight Time, or 5:00 PM Eastern Daylight Time.

This will be a live interview conducted via Twitter Spaces, featuring Sukhinder Singh Cassidy, the author of “Choose Possibility: Take Risks and Thrive (Even When You Fail).”

Event Details

The discussion will center around the themes explored in Cassidy’s book, focusing on risk-taking and resilience in the face of setbacks.

Attendees will have the chance to hear directly from both Crichton and Cassidy during this interactive session.

• Date: August 19th
• Time: 2:00 PM PDT / 5:00 PM EDT
• Platform: Twitter Spaces
• Guest: Sukhinder Singh Cassidy
• Book: “Choose Possibility: Take Risks and Thrive (Even When You Fail)”

Don't miss this chance to engage with thought leaders and explore strategies for achieving success through embracing possibility.