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Daily Crunch: June 28th – App Spending and More

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Greetings, and welcome to the Daily Crunch for Monday, June 28th. Consider how much time was dedicated to smartphone usage over the past weekend. Was it excessive, or perhaps limited? Recent data concerning consumer expenditure on applications suggests a substantial amount of time was likely spent.

Record App Spending in the First Half of the Year

Consumer spending within the app ecosystem reached a new high during the first six months of the year. However, the rate at which this spending is increasing is beginning to decelerate.

Before proceeding, please note that Extra Crunch is currently offered at a discounted rate this week. Further details and subscription options can be found here, and your support helps sustain TechCrunch’s operations. — Alex

The observed slowdown in growth, despite reaching record spending levels, indicates a potential shift in consumer behavior or market saturation.

App spending remains a key indicator of mobile technology trends and consumer engagement.

This data provides valuable insights for developers and investors alike, highlighting both opportunities and challenges within the app market.

TechCrunch's Leading Three Stories

The field of surgical robotics is experiencing significant investment. CMR, a surgical robotics company headquartered in the U.K., has successfully secured $600 million in funding. This funding round was spearheaded by SoftBank’s Vision Fund II and Ally Bridge Group.

Surgical Robotics Investment

As a result of this substantial investment, CMR’s valuation has reached $3 billion. This highlights the growing financial interest in the development and deployment of robotic surgical systems.

Etsy's Expansion Through Acquisition

Etsy, the well-known online marketplace for handmade and vintage goods, has expanded its global reach. The company has acquired Elo7, a Brazilian marketplace, for a sum of $217 million.

This acquisition follows Etsy’s recent purchase of Depop, indicating a strategic focus on growth through mergers and acquisitions. Etsy is actively pursuing inorganic growth strategies to broaden its market presence.

SpaceX's Starship Progress

SpaceX is preparing for a significant milestone with its Starship program. The company anticipates launching Starship to near space as early as next month.

Starship's Development

Despite previous setbacks and test failures, including explosions during trials, SpaceX remains on track. The company has a history of iterative development, initially experiencing frequent rocket stage crashes during reentry.

However, SpaceX has since refined its technology to consistently land rocket stages on drone ships. This demonstrates the importance of learning from failures in the challenging field of space technology. Successful space exploration often requires a period of experimentation and refinement.

Startups and Venture Capital Updates

Today’s focus is on Pittsburgh, an emerging startup landscape currently under review by TechCrunch:

• Pittsburgh’s mayoral perspective on fostering a startup environment and securing venture funding: The challenge of revitalizing a city impacted by deindustrialization and altering its established image is significant. TechCrunch engaged with Bill Peduto, Pittsburgh’s mayor since 2014, to explore this topic.
• Venture capitalists analyze the potential and obstacles within Pittsburgh’s startup ecosystem: Effective city governance represents only one aspect of developing a thriving startup hub. Investment and reinvestment, driven by those with capital, are also crucial for creating momentum.
• Carnegie Mellon University’s role in cultivating startups and retaining talent in Pittsburgh: A key element for any startup market aiming for sustainability is the ability to keep its educated workforce local. This allows for the building, scaling, and eventual exit of companies, with the resulting capital and expertise reinvested within the region.

Shifting to our standard coverage, here are additional highlights from today’s startup news:

• $50 Million Investment to Develop a Mobile Commerce Platform: Tapcart aims to replicate the ease of Shopify’s desktop shopping experience on mobile devices. The company recently secured an eight-figure funding round, led by Left Lane Capital. (This venture bears resemblance to Bikayi, a recent Y Combinator graduate.)
• $10 Million Funding for Automated Beverage Creation: This investment isn’t for drinks *for* robots, but rather drinks *made by* robots. While automated barista systems have been explored previously, Botrista’s machine appears particularly promising. Its design is appealing, and many of its drink combinations sound enticing. The impact of this $10 million investment remains to be seen.
• Another Successful Software IPO on the Horizon: SentinelOne’s initial public offering is generating considerable interest following an increase in its price range. The company’s valuation is rising as it approaches its market debut, potentially exceeding its final private valuation by a significant multiple.
• $167 Million for a Leading Fintech Company in the Philippines: PayMaya’s parent company has significantly increased its capital reserves through a $121 million funding round, supplemented by $46 million from previous investments this week. According to TechCrunch, these funds will be allocated to “the introduction of additional financial services, including the establishment of a digital bank.”
• Listen to the latest episode of the Equity Podcast for a fresh perspective on dating applications.
• Personnel Updates: Coinbase CEO Brian Armstrong will be a featured speaker at TechCrunch Disrupt 2021. Additionally, Dennis Crowley is stepping down from his role at Foursquare.

Effective Data Strategies for Developer Outreach

While many consumers respond favorably to persuasive sales techniques, software developers typically possess a discerning eye and a strong technical understanding.

Marketing initiatives aimed at developers are most effective when they prioritize providing valuable, free tools. However, maximizing the impact of these efforts requires a precise understanding of which data to track and how to interpret it.

Sam Richard, Senior Director of Growth at OpenView – an investment firm backing companies such as Datadog, Expensify, and Calendly – suggests that software businesses should consider developers as the “go-to-market side of the team.”

Consider this approach: Rather than solely relying on analytics derived from your production database, what if your go-to-market team directly solicited input from revenue-focused stakeholders regarding the data they utilize for decision-making?

If a product manager were dedicated to fulfilling these data requirements, a roadmap could be created and a minimum viable product (MVP) developed, yielding significant insights.

Richard emphasizes that success is achievable, stating, “Selling to developers isn’t impossible — it’s just difficult.”

It's crucial to avoid overcomplicating the process.

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

Big Tech Inc.

It's noteworthy that both Microsoft and Apple currently possess market valuations of $2 trillion each. A relatively short time ago, the combined worth of the five leading U.S. technology companies totaled only $3 trillion, a figure that seemed substantial then.

However, the landscape has dramatically shifted. Microsoft is now actively progressing towards a $3 trillion valuation, spurred by the initial public release of the Windows 11 preview.

While preliminary builds were previously available, this release originates directly from the official source code.

Facebook's Expansion into Africa

Facebook has recently launched a new product, Sabee, specifically within Nigeria, where the company maintains an operational office. According to TechCrunch, Sabee is designed “to connect learners and educators in online communities, increasing access to educational resources.”

This initiative aligns with Facebook’s broader objective of reaching all internet users, and Africa represents a key region for expanding internet access and adoption.

Updates for Android Wearable Users

Individuals invested in the Android wearable technology ecosystem will find recent developments from both Samsung and Google particularly appealing.

Samsung and Google are introducing a range of new features and improvements designed to enhance the user experience for wearable devices.

These updates promise to deliver significant benefits to those utilizing Android-powered smartwatches and other wearable technologies.

TechCrunch Insights: Leading Growth Marketing Professionals

TechCrunch is currently compiling a list of the most effective growth marketers within the technology sector. Your input is valuable; please share your recommendations by completing the survey available here!

Below is a representative example of the positive feedback we have already gathered.

Marketer Profile

Marketer’s Name: Dipti Parmar

Recommender’s Name: Brody Dorland, co-founder at DivvyHQ

Testimonial

“Ms. Parmar provided a straightforward, actionable plan with defined goals and a clear schedule. Delivery of this plan occurred within a single month.

Positive outcomes were observed within a couple of months following implementation. This success led to the delegation of more extensive responsibilities related to our content strategy and publishing processes to her.”