ZoomInfo to Acquire Chorus.ai for $575M - Daily Crunch

Daily Crunch: July 13, 2021

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The Rise of Plant-Based Alternatives

Greetings, and welcome to today’s Daily Crunch for July 13, 2021. Have you yet participated in the growing trend of plant-based meat alternatives? Or are you still observing, preferring traditional meat options?

Fortunately for those who enjoy conventional foods, an increasing number of fake meat products are becoming available in a wider range of locations.

Beyond Meat at Panda Express

For example, Beyond Meat’s plant-based chicken is now being offered at Panda Express.

While many appreciate the taste of meat, concerns regarding its environmental impact are growing.

Perhaps technology companies can pave the way toward a more environmentally friendly future for all of us.

— Alex

TechCrunch's Leading Three Stories

Here's a rundown of the top three tech stories covered by TechCrunch today, offering insights into Apple's new product, the venture capital landscape, and a notable IPO.

Apple Enters the Portable Power Market

Many mobile users frequently experience low battery levels. Apple has responded to this common issue with the release of a new battery pack for iPhones, priced at $99.

This accessory delivers wireless charging and magnetically attaches to the back of the device. While some users may find the need for an external battery frustrating, its convenience is undeniable.

A Surge in Promising Startups

Investors have indicated a significant increase in the number of high-potential startups currently available. Despite elevated valuations, venture capital firms are actively participating in funding rounds.

Maintaining a presence in the market necessitates competitive investment, benefiting founders with compelling growth narratives. This suggests a particularly favorable period for startup companies.

Zomato Secures Additional Funding Prior to IPO

Zomato, an Indian food delivery service, has successfully raised further capital ahead of its initial public offering (IPO).

The company intends to list on the stock market this week, aiming for the upper end of its projected valuation. A substantial 45% of the planned $1.3 billion raise originates from anchor investors, demonstrating strong investor confidence.

This level of demand indicates considerable enthusiasm for Zomato's future prospects.

Startups and Venture Capital Updates

Today’s startup digest begins with news from Danny Crichton regarding the discontinuation of The TechCrunch List. The initial concept was straightforward: a carefully selected directory of venture capitalists intended to connect founders with the most suitable investors for their ventures.

However, after extensive data collection and analysis, the project’s relevance diminished. Danny explains that the venture capital landscape has undergone significant transformation in the last year, rendering the list’s original premise obsolete.

This shift is attributed to increased competition, accelerated deal cycles, and a more geographically dispersed venture capital ecosystem. Consequently, deal terms and pricing are now prioritized over specialized expertise, according to reports.

This observation is certainly worth considering. Below is our regular summary of recent funding rounds, presented from the smallest to the largest:

• AttackIQ Secures $44M for Breach Management: The company employs a unique approach, simulating cyberattacks to help organizations enhance their security posture. This proactive method is akin to conducting internal practice drills. The recent funding highlights the continued demand for innovative cybersecurity solutions.
• Marco Financial Obtains $82M to Support Latin American Exporters: Based in Miami, this trade-focused startup secured $7 million in equity and $75 million in credit to facilitate expansion. Marco Financial utilizes a technology-driven risk assessment platform to evaluate creditworthiness, expanding access to capital.
• Amperity Achieves Unicorn Status with $100M Funding: The company has developed a customer data platform designed to provide large enterprises with deeper insights into their customer base. As reported by Ingrid Lunden, Amperity operates in a changing environment where traditional customer tracking methods, such as cookies, are becoming less reliable.
• Sourcegraph Raises $125M for Code Search Technology: This is a noteworthy development. Valued at $2.625 billion – a threefold increase since its December funding round – Sourcegraph is experiencing rapid growth. Reports suggest the company is currently generating approximately $10 million in annual recurring revenue, representing a substantial valuation multiple.

Elevated SEO Strategies for Success in 2021

The era of manipulating search engines for traffic gains has passed. Modern startups aiming for visibility must prioritize the creation of superior content that precisely details their offerings.

Mark Spera, Growth Marketing Lead at Minted, presents five “advanced-ish” strategies to “enhance your SEO efficiency and leverage remaining opportunities within organic search.” These extend beyond fundamental SEO advice commonly found online.

Leveraging Content Generation Tools

The first strategy involves utilizing content-generation tools to streamline processes such as crafting search-optimized headlines, titles, and blog post outlines.

According to Spera, this approach has reduced their article creation time from four hours to approximately 90 minutes per article. This time saving can be strategically reinvested.

Significant gains in productivity can be realized through the efficient allocation of resources.

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

Big Tech Inc.

Beyond Apple's recent battery pack announcement, several other significant developments occurred within the broader Big Tech landscape. Here's a summary of the key updates:

Discord Acquires Sentropy

Discord, now a substantial organization with a large workforce and considerable market value, has completed the acquisition of Sentropy.

Sentropy specializes in AI-driven software designed to identify and eliminate online harassment and hateful content, as reported by TechCrunch. This purchase is strategically aligned with Discord’s efforts to address the presence of undesirable groups on its platform.

Facebook Enhances Bug Bounty Program

Facebook is introducing a new initiative, the “Payout Time Bonus,” aimed at increasing financial rewards for security researchers who identify and report vulnerabilities within its systems.

While Facebook’s annual bug bounty payouts have historically been lower compared to some other major technology companies, this new program seeks to narrow that disparity.

ZoomInfo’s Acquisition of Chorus.ai

ZoomInfo, a publicly traded company, has announced its intention to acquire Chorus.ai for a reported $575 million.

Chorus.ai develops sales intelligence solutions centered around conversation analytics. This acquisition places ZoomInfo in a competitive space alongside companies like Gong.io, though Gong currently maintains its independence and a significantly higher valuation – approximately 13 times that of Chorus.ai.

Growth Marketing Insights from TechCrunch Experts

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 of the feedback gathered is presented below.

Expert Profile

Marketing Agency: MuteSix

Referral Source: Rhoda Ullmann, Sense

Client Feedback

Quote: “Having evaluated several agencies, MuteSix consistently showcases leading proficiency in paid advertising on both Facebook and Google. Their creative development process is notably intelligent and streamlined.

This efficiency proved essential in facilitating our company’s expansion.”

• MuteSix’s expertise lies in Facebook and Google Ads.
• Their approach to creative asset creation is highly effective.
• The agency’s methods were instrumental in achieving significant scaling.

The testimonial highlights MuteSix’s ability to deliver results through strategic ad management and innovative creative solutions.

Rhoda Ullmann of Sense recommends MuteSix based on their demonstrated performance and efficient workflows.