Sora in Super Smash Bros. Ultimate: Final DLC Revealed
Daily Crunch: October 5, 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.
Greetings, and welcome to the Daily Crunch for October 5, 2021. As previously indicated, a surge in initial public offerings (IPOs) from tech startups was anticipated during the fourth quarter. This prediction is now materializing.
Today's Top Stories
Beyond the IPO activity, this edition includes updates from the video game industry, developments in the cryptocurrency space, and a variety of other noteworthy items. Let’s dive into the details!
- IPO Momentum: A number of tech companies are actively pursuing public listings as Q4 progresses.
- Gaming Updates: The latest news and trends in the video game sector are covered.
- Crypto Developments: Significant events and shifts within the cryptocurrency market are highlighted.
– Alex
TechCrunch's Leading Three Stories
A significant disruption at Facebook led to a surge in users for Telegram. Telegram reported gaining approximately 70 million new users during Facebook's extensive outage yesterday.
The outage impacted all Facebook-owned platforms, including WhatsApp, causing temporary inaccessibility for its users.
Further developments at Facebook involve testimony from a former employee. This whistleblower appeared before the U.S. Senate today to provide evidence.
Initial Public Offering Season
Preparations are underway for several companies to enter the public market. TechCrunch has analyzed IPO filings from both Udemy, a prominent edtech company, and Rent the Runway, a direct-to-consumer fashion rental service.
Udemy’s debut is expected to provide insights into the performance of edtech companies, particularly ahead of Byju’s anticipated IPO.
Rent the Runway will offer a representation of the direct-to-consumer market, though to a somewhat smaller extent.
Final Character Reveal for Super Smash Bros. Ultimate
The last playable character for Super Smash Bros. Ultimate has been announced as Sora. This reveal is particularly noteworthy for fans of the Kingdom Hearts series.
TechCrunch’s data indicates that this announcement generated considerable excitement within the gaming community, fulfilling a long-standing request from players.
A message from the TechCrunch Experts team: They are currently seeking to highlight exceptional software development companies that collaborate with startups. Interested parties are encouraged to submit their information via the provided link.
Startups and Venture Capital Updates
Today’s startup coverage begins with a look at two recent accelerator program cohorts. TechCrunch detailed the 23 companies participating in the newest Alchemist accelerator, and also covered the 14 companies emerging from the Entrepreneurs Roundtable group.
We consistently find accelerator classes insightful, as they often reveal emerging trends in the problems founders are tackling.
Notable News Items
- Space Exploration and Governance: The United Arab Emirates’ (UAE) ambition to launch a probe to the asteroid belt is noteworthy. A perspective is that launching outdated forms of government into space is a compelling idea. Support for space launches is generally positive, with reservations regarding nations with established religions and monarchies.
- Appsmith Secures $8M in Funding: The market for internal application development software is substantial and highly competitive. Appsmith, a newer entrant, has garnered attention by securing additional funding for its open-source approach. Despite not yet having a commercial model, Appsmith’s progress and community adoption make it a company to monitor.
- Podcastle Raises $7M for Comprehensive Podcast Services: Creating a high-quality podcast is surprisingly complex. Podcastle recently raised significant capital to support its all-in-one podcasting platform, covering recording, production, and publishing. This removes common barriers to entry for aspiring podcasters, such as poor audio quality and inadequate editing.
- Contrary Capital Launches $20M Second Fund: Natasha Mascarenhas reported on Contrary Capital’s second venture capital fund. Founder Eric Tarczynski identified a gap in venture funding for entrepreneurs connected to universities. This focused approach proved successful, leading to a second fund with committed capital.
- Duality Secures $30M for Secure Data Sharing: Cybersecurity remains critically important due to the persistent vulnerabilities in the digital landscape. Duality – distinct from the musical work – is developing tools utilizing homomorphic encryption. These tools aim to facilitate secure data sharing and collaboration between companies without exposing sensitive information.
The increasing investment in cybersecurity reflects the growing need for robust data protection measures.
Achieving Product-Market Fit: A Journey from Inception to Expansion
The attainment of product-market fit isn't signaled by a definitive event; there are no immediate indicators like flashing lights or celebratory fanfare.
Determining whether a startup has achieved this crucial milestone, particularly for novice founders, often relies on a blend of intuition and analytical assessment, as noted by News Editor Darrell Etherington.
Etherington recently consulted with three venture capitalists on this subject for TechCrunch Disrupt, gathering insights from:
- Heather Hartnett of Human Ventures
- David Thacker from Greylock
- Victoria Treyger, representing Felicis
The process of evaluating fit is often subjective when based on projections rather than concrete data.
These investors emphasized that a continuous evaluation process is essential, rather than seeking a single "aha!" moment.
(Access to exclusive content and resources for founders and startup teams is available through TechCrunch+. Registration can be completed here.)
Understanding the Nuances of Early-Stage Assessment
Early assessments of product-market fit are inherently less precise due to limited user data.
VCs often look for signals like strong qualitative feedback and early signs of customer enthusiasm.
It’s important to distinguish between building something people *want* and building something people *need*.
The Role of Quantitative Data in Validation
As a startup matures, quantitative metrics become increasingly important in gauging product-market fit.
Key performance indicators (KPIs) such as retention rate, customer acquisition cost (CAC), and lifetime value (LTV) provide valuable insights.
A high retention rate suggests that the product is resonating with users and solving a genuine problem.
Maintaining Fit During Growth
Achieving product-market fit isn't a one-time accomplishment; it requires ongoing attention and adaptation.
As a company scales, it's crucial to continuously monitor customer feedback and market trends.
Failure to do so can lead to a loss of fit and ultimately, stagnation or decline.
Big Tech Inc.
Recent developments within major technology companies continue to unfold. Facebook, despite ongoing scrutiny, is actively developing new features.
Specifically, the platform is expanding co-streaming capabilities to encompass all content creators. This allows for collaborative live broadcasts.
Facebook Co-Streaming
The rollout of co-streaming functionality aims to enhance engagement and provide new opportunities for creators to connect with their audiences. It establishes a foundation for paired streaming events.
TechCrunch Reviews New Surface Hardware
TechCrunch recently provided a positive assessment of the latest Surface devices. A firsthand look at the Surface Pro 8 revealed promising features and performance.
Matthew Burns, a TechCrunch contributor, captured detailed imagery of the new hardware. His review indicates increased competition within the personal computing market.
Apple's Coding Initiative for Children
Apple has launched a new educational program designed to introduce coding to young children. The “Everyone Can Code Early Learners” initiative seeks to foster early interest in programming.
This program provides resources and tools to help even very young learners begin to grasp the fundamentals of coding concepts, including syntax and logic.
TechCrunch Welcomes Aisha Malik
Please join us in extending a warm welcome to Aisha Malik, a new member of the TechCrunch team! Follow her on Twitter for insightful tech commentary.
Robinhood Introduces 24/7 Phone Support
Robinhood, the popular stock and cryptocurrency trading platform, has implemented 24/7 phone support. This represents a significant improvement in customer service accessibility.
The addition of round-the-clock phone support addresses a key concern for users and demonstrates a commitment to improved customer relations, particularly following periods of regulatory attention.
This change is particularly noteworthy given the company’s rapid growth and the increased scrutiny it has faced from both investors and governing bodies.
TechCrunch Experts: Software Consulting Services
TechCrunch Experts is now including software consulting as a key area of focus! Similar to the trend in growth marketing, a significant number of startups are choosing to outsource their software development needs.
Further details regarding the motivations behind this outsourcing approach can be found here.
We are actively seeking insights into the software consultants that startups have partnered with, covering a range of expertise from UI/UX design to cloud architecture. Please share your experiences with us here.
Initial Coverage: Chop Dawg Interview
To initiate our editorial coverage of this new subject, Miranda Halpern conducted an interview with Joshua Davidson of Chop Dawg. The interview, titled “App agency Chop Dawg on helping startups build for the long term,” provides valuable perspectives.
Expanding Our Expert Network
As we broaden our coverage to include software consulting – with plans to extend into other startup service areas in the future – we will continue to feature growth marketers through our existing survey. You can access and complete the survey here.
Publicly Shared Recommendations
Consistent with our approach, all received recommendations will be made publicly available. This will enable startups to efficiently locate the most suitable expert for their specific requirements.
Our goal is to connect startups with top-tier software consultants who can drive success.
