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ec roundup: bnpl startups, growth marketing tips, solid state battery market map, more

AVATAR Walter Thompson
Walter Thompson
Managing Editor, Contributions, TC+, TechCrunch
February 26, 2021
ec roundup: bnpl startups, growth marketing tips, solid state battery market map, more

The Rise of Buy Now, Pay Later Services

Several months ago, when the need for a new sofa arose, I was delighted to encounter a buy now, pay later (BNPL) option at checkout. I had anticipated a significant immediate expense, but the associated service charges proved a reasonable trade-off for the ability to spread the cost over time.

Interestingly, while relaxing on that very sofa this morning, I reflected on that purchase just as Alex Wilhelm published an analysis comparing the recent financial performance of three prominent BNPL companies: Afterpay, Affirm, and Klarna.

An Inquiry into the Analysis

I reached out to Wilhelm to understand his motivation for a deep dive into this particular sector.

His response highlighted the availability of key data. Earnings reports were recently released by all three BNPL providers mentioned.

Furthermore, he had recently reported on a funding round for a startup operating within the same space. This confluence of factors made the topic particularly compelling.

Wilhelm also noted the clear interest from the readership, making the decision to author the article a straightforward one. He expressed a desire to know if the piece resonated with readers and provided genuine value.

Concluding Thoughts

Thank you for engaging with Extra Crunch this week. I hope you have a pleasant weekend.

Walter Thompson
Senior Editor, TechCrunch
@yourprotagonist

Full Extra Crunch articles are exclusively available to subscribers.
Utilize the discount code ECFriday to receive a 20% reduction on a one- or two-year subscription.

A Review of Klarna, Affirm, and Afterpay Performance Amidst BNPL Growth

The "Buy Now, Pay Later" (BNPL) sector has experienced significant expansion, prompting a closer examination of the financial results of key players like Klarna, Affirm, and Afterpay.

Klarna's Financial Standing

Klarna has recently reported its financial performance, showcasing both challenges and areas of progress. The company has navigated a period of increased competition and evolving economic conditions.

Despite facing headwinds, Klarna continues to focus on strengthening its core business and expanding its offerings. Losses have been a point of focus, with the company actively working towards profitability.

Affirm's Performance and Outlook

Affirm has also released its earnings reports, providing insights into its growth trajectory and financial health. The company's performance is closely watched as a bellwether for the BNPL industry.

Affirm’s revenue growth has been substantial, driven by increased adoption of its installment payment solutions. However, maintaining profitability remains a key objective.

Afterpay's Integration and Results

Following its acquisition by Block (formerly Square), Afterpay’s performance is now integrated into Block’s overall financial reporting. This integration provides a broader view of the company’s BNPL operations.

Afterpay continues to be a significant contributor to Block’s revenue, benefiting from synergies within the larger ecosystem. The focus is on leveraging Block’s resources to further expand Afterpay’s reach.

Key Trends in the BNPL Landscape

Several trends are shaping the BNPL market. Increased regulatory scrutiny is impacting how these companies operate.

Competition is intensifying, with both established financial institutions and new entrants vying for market share. Consumer behavior is also evolving, with a growing demand for flexible payment options.

The rising interest rate environment presents a challenge to BNPL providers, potentially increasing the cost of funding and impacting consumer affordability. Managing credit risk is becoming increasingly crucial.

Future Considerations for BNPL Companies

To succeed in the long term, BNPL companies must prioritize sustainable growth and profitability. Investing in risk management and compliance is essential.

Innovation in product offerings and partnerships will be key to differentiating themselves in a crowded market. Building strong relationships with merchants and consumers is paramount.

Ultimately, the future of the BNPL sector will depend on the ability of these companies to adapt to changing market conditions and deliver value to all stakeholders.

Understanding Kubernetes Networking: A Deep Dive

Kubernetes networking is a complex subject, but fundamentally it’s about enabling communication between pods, services, and the outside world. It’s a crucial aspect of deploying and managing containerized applications at scale.

Core Concepts in Kubernetes Networking

Several key components work together to facilitate networking within a Kubernetes cluster. These include Pods, Services, and Network Policies.

Pods are the smallest deployable units in Kubernetes, representing a single instance of an application. Each pod is assigned a unique IP address within the cluster.

Services provide a stable network endpoint for accessing pods. They abstract away the underlying pod IPs, which can change dynamically. This ensures consistent access even as pods are created or destroyed.

Network Policies define rules for controlling traffic flow between pods. They allow you to restrict communication based on labels, namespaces, and IP addresses, enhancing security.

Kubernetes Networking Models

Kubernetes doesn't enforce a specific networking implementation. Instead, it provides an API for networking, allowing various Container Network Interface (CNI) plugins to be used.

Common CNI plugins include:

  • Calico: Known for its robust network policy enforcement and scalability.
  • Flannel: A simple and easy-to-use CNI plugin, often used for basic networking.
  • Weave Net: Provides a network overlay with encryption and automatic discovery.
  • Cilium: Leverages eBPF for advanced networking and security features.

The choice of CNI plugin depends on your specific requirements, such as network complexity, security needs, and performance expectations.

Service Discovery and Load Balancing

Kubernetes provides built-in service discovery and load balancing mechanisms. When a service is created, it receives a virtual IP address (VIP) and DNS name.

DNS resolution automatically maps the service name to the VIP. Kubernetes then uses iptables or IPVS to route traffic to the healthy pods backing the service. This ensures even distribution of traffic and high availability.

Ingress Controllers and External Access

To expose applications running within the cluster to the outside world, you typically use an Ingress Controller. An Ingress Controller acts as a reverse proxy and load balancer.

It manages external access to services within the cluster, often based on hostnames or paths. Popular Ingress Controllers include Nginx Ingress Controller and Traefik.

Network Policies for Enhanced Security

Implementing Network Policies is vital for securing your Kubernetes cluster. They allow you to define granular rules for controlling traffic flow.

For example, you can restrict access to a database pod to only be accessible from application pods within the same namespace. This minimizes the attack surface and prevents unauthorized access.

Troubleshooting Kubernetes Networking

Networking issues can be challenging to diagnose. Common troubleshooting steps include:

  • Checking Pod IPs: Verify that pods have been assigned IP addresses.
  • Testing Service Reachability: Ensure that services are accessible from other pods within the cluster.
  • Inspecting Network Policies: Confirm that network policies are not blocking legitimate traffic.
  • Examining CNI Plugin Logs: Review the logs of your chosen CNI plugin for errors.

Tools like kubectl exec and tcpdump can be invaluable for debugging network connectivity problems.

Effective Kubernetes networking is essential for building and deploying resilient, scalable, and secure applications. Understanding the core concepts and available tools will empower you to manage your cluster’s network effectively.

Pilot CEO Waseem Daher Analyzes His Company’s $60M Series C Pitch Deck

ec roundup: bnpl startups, growth marketing tips, solid state battery market map, moreGenerally, we refrain from publishing Extra Crunch articles centered around commonplace best practices, as these are readily available elsewhere.

Our focus is instead on providing readers with articles detailing specific, successful strategies and offering practical, actionable takeaways.

Following this principle, Lucas Matney conducted an interview with Waseem Daher, CEO of Pilot, to dissect the pitch deck that secured a $60M Series C funding round for his company.

Daher explains to TechCrunch that a Series A round primarily assesses the potential of a business, questioning whether the necessary components for success are in place.

He further clarifies that a Series B round validates initial progress, seeking confirmation that the business model is demonstrably functioning.

According to Daher, the Series C stage shifts the focus to proven performance and the identification of sustainable growth catalysts.

“The Series C is about demonstrating a robust core business and identifying the key factors driving continued expansion,” Daher stated.

Key Stages of Funding and What Investors Seek

The progression of funding rounds reflects increasing investor confidence and scrutiny.

Each stage demands a different level of evidence and a clear articulation of the company’s trajectory.

  • Series A: Focuses on the viability of the core concept and team.
  • Series B: Validates initial traction and market fit.
  • Series C: Demonstrates scalability and sustainable growth potential.

Understanding these distinctions is crucial for entrepreneurs seeking to secure funding.

Successfully navigating each round requires a pitch deck that effectively addresses the specific concerns of investors at that stage.

Understanding Kubernetes Networking: A Deep Dive

Kubernetes networking is a complex subject, but fundamentally it’s about enabling communication between pods, services, and the outside world. It’s a crucial aspect of deploying and managing containerized applications at scale.

Core Concepts in Kubernetes Networking

Several key components work together to facilitate networking within a Kubernetes cluster. These include Pods, Services, and Network Policies, each playing a distinct role.

Pods are the smallest deployable units in Kubernetes, representing a single instance of an application. Each pod is assigned a unique IP address within the cluster.

Services provide a stable network endpoint for accessing pods. They abstract away the underlying pod IPs, which can change dynamically. This ensures consistent access even as pods are created or destroyed.

Network Policies define rules governing communication between pods. They allow you to control which pods can talk to each other, enhancing security and isolation.

How Kubernetes Networking Works

Kubernetes doesn't have its own networking implementation. Instead, it leverages the networking capabilities of the underlying infrastructure. This flexibility allows it to operate in various environments, including cloud providers and on-premises data centers.

The networking model relies on a Container Network Interface (CNI). CNI plugins are responsible for setting up the network for pods and assigning them IP addresses.

When a pod needs to communicate with another pod within the cluster, the traffic is routed through the Kubernetes network fabric. This fabric is created and managed by the CNI plugin.

Service Discovery and Load Balancing

Kubernetes provides built-in service discovery and load balancing mechanisms. When a client accesses a service, Kubernetes automatically routes the traffic to one of the healthy pods backing that service.

This is achieved through the use of kube-proxy, a network proxy that runs on each node in the cluster. Kube-proxy maintains network rules that direct traffic to the appropriate pods.

Different service types are available, including:

  • ClusterIP: Exposes the service on a cluster-internal IP.
  • NodePort: Exposes the service on each node's IP at a static port.
  • LoadBalancer: Provisions an external load balancer to expose the service.

Ingress Controllers for External Access

For exposing applications to the outside world, Ingress Controllers are commonly used. They act as a reverse proxy, routing external traffic to the appropriate services within the cluster.

Ingress resources define rules for how external traffic should be routed. These rules can be based on hostnames, paths, or other criteria.

Popular Ingress Controllers include Nginx Ingress Controller and Traefik.

Network Policies for Security

Implementing Network Policies is vital for securing your Kubernetes cluster. They allow you to restrict network access based on pod labels, namespaces, and IP addresses.

For example, you can create a policy that only allows pods with a specific label to communicate with a database pod. This limits the blast radius of potential security breaches.

Network Policies are implemented using network plugins that support the Kubernetes NetworkPolicy API.

Choosing a CNI Plugin

Selecting the right CNI plugin is crucial for your Kubernetes networking setup. Several options are available, each with its own strengths and weaknesses.

Some popular CNI plugins include:

  • Calico: Provides network policy enforcement and advanced networking features.
  • Flannel: A simple and easy-to-use CNI plugin.
  • Weave Net: Offers automatic network configuration and encryption.

The best choice depends on your specific requirements and infrastructure.

Monitoring and Troubleshooting Kubernetes Networking

Effective monitoring and troubleshooting are essential for maintaining a healthy Kubernetes network. Tools like kubectl, tcpdump, and network monitoring solutions can help identify and resolve network issues.

Regularly checking network logs and metrics can provide valuable insights into network performance and potential problems.

Understanding the flow of traffic within your cluster is key to diagnosing and fixing networking issues efficiently.

The Potential of Solid State Batteries for Future Electric Vehicles

ec roundup: bnpl startups, growth marketing tips, solid state battery market map, moreRecent surveys conducted globally among vehicle owners have identified three key obstacles hindering the widespread adoption of electric vehicles.

  • A desired charging duration of no more than 30 minutes.
  • A minimum driving range of 300 miles on a single charge.
  • An upper price limit of $36,000.

Solid state batteries (SSBs) possess the theoretical capability to satisfy all these requirements. However, currently, lithium-ion batteries remain the predominant power source for the majority of electric vehicles, as well as portable electronics like laptops and smartphones.

Mapping the Solid State Battery Landscape

Our most recent market analysis visually represents both emerging and established companies operating within the SSB industry.

This map also details the numerous investors providing financial support to these ventures.

Progress and Future Outlook

Despite the fact that mass production of SSBs is still several years away, significant advancements are being made.

Amy Prieto, founder of an SSB startup, notes that we are approaching a period of substantial breakthroughs.

These advancements are being fueled by major improvements in computational science and the application of machine learning algorithms, which are accelerating the development process.

Dear Sophie: Expedited Immigration Pathways for Skilled Engineers

ec roundup: bnpl startups, growth marketing tips, solid state battery market map, moreDear Sophie:

Our company is facing an urgent need to onboard fifty engineers specializing in artificial intelligence and associated disciplines. What are the most expeditious visa and green card routes available for highly qualified immigrant engineers?

Furthermore, will the recently proposed immigration legislation from the Biden administration offer any assistance in this process?

— Concerned in Menlo Park

Understanding the time sensitivity of your situation is crucial. Several pathways can be explored, each with varying processing times and eligibility requirements.

Visa Options for Rapid Hiring

For immediate staffing needs, consider these non-immigrant visa options:

  • H-1B Visa: While subject to an annual quota, the H-1B visa remains a popular choice for skilled workers. Direct filing is possible, but the lottery system introduces uncertainty.
  • L-1A/L-1B Visas: These visas are suitable for employees of multinational companies being transferred to a U.S. office. Processing can be relatively swift, particularly for established companies.
  • O-1 Visa: Reserved for individuals with extraordinary ability or achievement, the O-1 visa offers a faster track with less stringent quotas.

The selection of the most appropriate visa will depend on the engineer’s qualifications and your company’s specific circumstances.

Green Card Pathways for Long-Term Retention

To secure long-term talent, explore these green card options:

  • EB-1 Green Card: This category is for individuals with extraordinary ability, outstanding professors and researchers, and multinational executives and managers. It often allows for direct filing without a labor certification.
  • EB-2 Green Card: Requires a labor certification, demonstrating a lack of qualified U.S. workers. The process can be lengthy, but National Interest Waivers can expedite it in certain cases.
  • EB-3 Green Card: For skilled workers, professionals, and other workers. This typically has the longest processing times due to quota limitations and labor certification requirements.

Prioritizing the EB-1 category, where applicable, can significantly reduce processing times.

Impact of Biden’s Immigration Bill

The proposed immigration bill aims to address several systemic issues within the U.S. immigration system. If enacted, it could potentially:

  • Increase the number of available H-1B visas.
  • Eliminate per-country caps on employment-based green cards, reducing backlogs.
  • Create new visa categories for emerging technologies.

However, the bill’s passage is not guaranteed, and its impact remains uncertain. Companies should continue to pursue available options under current regulations.

It is highly recommended to consult with experienced immigration counsel to develop a tailored strategy that aligns with your company’s needs and the engineers’ individual profiles.

F5's $2.2 Billion Investment in Cloud Native Application Technologies

ec roundup: bnpl startups, growth marketing tips, solid state battery market map, moreEstablished in 1996, F5 has undergone multiple strategic shifts within the networking sector throughout its existence.

Recently, the company invested $2.2 billion in acquisitions, specifically targeting Shape Security, Volterra, and NGINX.

Enterprise reporter Ron Miller investigated these moves, seeking to understand the rationale behind F5’s evolving strategy.

His focus was on uncovering how these acquisitions were instrumental in propelling the organization toward a new operational direction.

“Many established companies require strategic adjustments to maintain their competitive edge,” Miller explained.

“I aimed to analyze one such significant transformation, and to that end, I interviewed the CEO of F5.”

The conversation centered on the company’s pivot and the role of the three acquisitions in facilitating this change.

Understanding the Strategic Shift

F5’s acquisitions demonstrate a clear commitment to cloud native applications.

This represents a substantial change from its traditional networking focus.

The purchases were not isolated events, but rather a coordinated effort to build a comprehensive platform.

  • Shape Security provides application security solutions.
  • Volterra offers edge computing capabilities.
  • NGINX is a widely used web server and application delivery network.

By integrating these technologies, F5 aims to offer a complete solution for organizations building and deploying applications in the cloud.

This allows them to address the complexities of modern application architectures.

The CEO's Perspective

The CEO of F5 articulated a vision of a future where applications are increasingly distributed and dynamic.

He emphasized the need for a platform that can provide security, performance, and manageability across this evolving landscape.

The acquisitions were strategically chosen to fill gaps in F5’s existing portfolio and accelerate its entry into the cloud native market.

This proactive approach positions F5 to capitalize on the growing demand for cloud-based solutions.

DigitalOcean's IPO Filing Reveals a Differentiated Cloud Landscape

ec roundup: bnpl startups, growth marketing tips, solid state battery market map, moreThis week, DigitalOcean submitted its initial public offering (IPO) documentation. Consequently, Ron Miller and Alex Wilhelm analyzed the company’s financial data.

According to John Dinsdale, chief analyst and research director at Synergy Research, DigitalOcean doesn’t pose a significant threat to AWS and Microsoft Azure.

Dinsdale clarified that DigitalOcean isn’t attempting to directly challenge these industry giants across the entirety of cloud infrastructure offerings.

Instead, the company occupies a distinct position within the cloud market.

A Two-Tiered Cloud Market Structure

The analysis suggests the existence of a two-tiered cloud market.

One tier is dominated by comprehensive providers like Amazon Web Services and Microsoft Azure.

The other tier is comprised of companies like DigitalOcean, which focus on specific niches and customer segments.

  • AWS and Azure offer a vast array of cloud services.
  • DigitalOcean concentrates on simplicity and developer-friendliness.

This differentiation allows DigitalOcean to thrive without directly confronting the established leaders in a broad-scale competition.

The IPO filing highlights this strategic positioning and the company’s growth trajectory within its chosen market segment.

Financial Highlights from the Filing

Miller and Wilhelm’s review of the filing uncovered key financial details.

These details illustrate DigitalOcean’s revenue growth and customer acquisition strategies.

The company’s focus on small and medium-sized businesses (SMBs) appears to be a key driver of its success.

Oscar Health’s IPO Pricing: A Surprisingly High Valuation

ec roundup: bnpl startups, growth marketing tips, solid state battery market map, moreI requested Alex Wilhelm to moderate his strong language when discussing Oscar Health’s anticipated valuation. However, it’s possible my request underestimated the situation.

Back in March of 2018, the insurtech unicorn had an estimated value of approximately $3.2 billion. Currently, with the company targeting a share price between $32 and $34, its fully diluted valuation approaches $7.7 billion.

According to Alex, the primary conclusion drawn from the initial Oscar Health IPO price range is that investors in the public market are exhibiting irrational exuberance.

His recommendation for companies contemplating an IPO is straightforward: “Proceed with going public immediately.”

 

Determining Stripe’s Valuation in Light of Coinbase’s $100 Billion Assessment

ec roundup: bnpl startups, growth marketing tips, solid state battery market map, moreRecently, Alex examined the valuation of cryptocurrency exchange Coinbase, noting its private market value had reached $77 billion.

Current reports from Axios indicate that Coinbase’s valuation has now increased to $100 billion as of Monday.

Alex undertook a detailed analysis of Coinbase’s financial results from 2019 through the third quarter of 2020.

This review aimed to assess the reasonableness of the $100 billion valuation – whether it was illogical, somewhat justified, or entirely appropriate.

The question arises: if Coinbase commands a $100 billion valuation, what constitutes a fair valuation for Stripe, a prominent payment processing company?

Contextualizing Coinbase’s Growth

Understanding the factors driving Coinbase’s valuation is crucial for comparison.

The analysis considered revenue growth, user base expansion, and the overall market conditions influencing the cryptocurrency sector.

These elements were weighed to determine if the $100 billion figure was supported by the company’s performance.

Applying the Analysis to Stripe

Stripe, like Coinbase, has experienced significant growth in recent years.

It processes billions of dollars in transactions and serves a diverse range of businesses.

A similar analytical framework can be applied to Stripe to estimate its potential valuation.

  • Revenue figures will be a key component.
  • User acquisition and retention rates are also important.
  • The competitive landscape within the payment processing industry must be considered.

Determining a fair valuation for Stripe requires a thorough examination of these factors, mirroring the approach taken with Coinbase.

The Importance of Comparative Valuation

Comparing the valuations of companies within similar sectors provides valuable insights.

This approach helps to identify potential overvaluation or undervaluation.

In the case of Coinbase and Stripe, a comparative analysis can offer a more nuanced understanding of their respective market positions and growth trajectories.

Understanding the Role of the "Chief Objection Officer" in Enterprise Sales

ec roundup: bnpl startups, growth marketing tips, solid state battery market map, moreSuccessful enterprise sales organizations invest significant effort in identifying prospective clients.

Methods such as analyzing LinkedIn profiles and examining attendee lists from relevant industry events are commonly employed to locate key decision-makers.

However, GGV Capital’s Oren Yunger emphasizes that, alongside identifying champions, sales teams must also recognize individuals capable of halting a deal with minimal communication.

Yunger refers to these individuals as the “Chief Objection Officer.”

This role represents a critical, often overlooked, aspect of the sales process.

Identifying Key Stakeholders Beyond Decision-Makers

While focusing on those with direct purchasing authority is essential, it’s equally important to map out the entire stakeholder landscape.

The Chief Objection Officer isn't necessarily the final decision-maker, but wields considerable influence.

They may be responsible for risk assessment, budget control, or technical evaluation, and their concerns must be addressed.

How to Navigate Objections Effectively

  • Proactive Identification: Attempt to identify potential objectors early in the sales cycle.
  • Understanding Motivations: Determine the underlying reasons for their concerns.
  • Tailored Communication: Craft messaging that directly addresses their specific objections.
  • Data-Driven Responses: Support claims with concrete data and evidence.

Successfully navigating objections from the Chief Objection Officer is often the difference between closing a deal and losing it.

Ignoring their concerns can quickly derail even the most promising opportunities.

The Importance of Comprehensive Sales Intelligence

Effective sales teams don’t just focus on identifying potential customers; they prioritize understanding the internal dynamics of target organizations.

This includes recognizing who holds the power to raise objections and how those objections can be overcome.

By acknowledging and addressing the concerns of the Chief Objection Officer, sales professionals can significantly increase their chances of success.

Strategies to Enhance Brand Authority in 2021

ec roundup: bnpl startups, growth marketing tips, solid state battery market map, moreThe desire to increase brand visibility is common among all startups. However, numerous companies in their initial phases often find their marketing resources insufficient to generate substantial impact.

According to Amanda Milligan, Marketing Director at Fractl, a growth agency, delivering genuine value via content creation represents a highly effective method for establishing authority both quickly and over an extended period.

 

Content-Driven Authority Building

Milligan highlights that consistently producing high-quality, informative content is paramount. This content should directly address the needs and pain points of the target audience.

She suggests focusing on creating resources that are genuinely helpful, rather than solely promotional. This approach fosters trust and positions the brand as a valuable resource.

Leveraging Data and Research

Original data and research are powerful tools for building brand authority. Publishing unique insights can attract attention from industry publications and influencers.

Fractl’s work with a client in the financial services sector demonstrates this. They conducted a study on credit card debt, which garnered significant media coverage and boosted the client’s profile.

Strategic Link Building

Earning backlinks from reputable websites is crucial for improving search engine rankings and establishing authority. However, Milligan cautions against manipulative link-building tactics.

Instead, she advocates for a focus on creating content that naturally attracts links. This includes producing high-quality, shareable resources and actively promoting them to relevant audiences.

  • Focus on creating genuinely useful content.
  • Conduct and publish original research.
  • Prioritize earning backlinks through valuable content.

By implementing these strategies, startups can effectively elevate their brand authority even with limited marketing budgets.

RIBS: A Messaging Framework Applicable to All Businesses and Products

ec roundup: bnpl startups, growth marketing tips, solid state battery market map, moreEffective marketing centers around impactful storytelling, rather than solely relying on persuasive techniques.

Caryn Marooney, a general partner at Coatue Management, posits that truly engaging narratives possess four key characteristics: relevance, inevitability, believability, and simplicity.

Marooney states that a narrative fulfilling these criteria often underpins the success of many companies.

However, she also identifies this as a significant hurdle for startups to overcome.

 

The Core Components of RIBS

The RIBS framework, encompassing Relevance, Inevitability, Believability, and Simplicity, provides a structure for crafting resonant messaging.

Each element plays a crucial role in ensuring a story connects with its audience and drives engagement.

  • Relevance: The message must directly address the needs and interests of the target demographic.
  • Inevitability: The narrative should feel like a natural progression, a logical outcome of existing trends.
  • Believability: The story must be grounded in reality and avoid exaggerated claims.
  • Simplicity: Complex ideas should be communicated in a clear and concise manner.

Successfully integrating these four components is vital for establishing a strong brand narrative.

Applying RIBS to Startup Messaging

Startups often struggle to articulate their value proposition in a compelling way.

The RIBS framework offers a practical solution by forcing a focus on the fundamental elements of a good story.

By ensuring their messaging is relevant, inevitable, believable, and simple, startups can significantly improve their ability to connect with potential customers and investors.

The Importance of a Coherent Narrative

A well-defined narrative isn’t merely about marketing; it’s about establishing a clear identity.

This identity guides product development, customer interactions, and overall business strategy.

Therefore, investing in the creation of a RIBS-aligned story is an investment in the long-term success of the company.

Jason Boehmig of Ironclad: Refining Pricing Through Iteration

A recent installment of Extra Crunch Live featured a conversation between Jason Boehmig, founder and CEO of Ironclad, and Steve Loughlin, a partner at Accel, revisiting the initial pitch that initiated their collaboration nearly four years prior.

Following that $8 million Series A funding round, Loughlin assumed a position on Ironclad’s board of directors. Jordan Crook notes that both parties acknowledge the substantial benefits derived from their early, dedicated efforts in establishing a strong working relationship.

Boehmig emphasized their transparent approach to board governance, stating, “We have consistently viewed the board as an integral component of our organization.”

He further explained that the core aim of pricing strategies isn’t to achieve immediate perfection, but rather to progressively minimize inaccuracies with each iteration.

This perspective highlights a commitment to continuous improvement and data-driven decision-making in the realm of pricing.

The discussion underscored the importance of alignment between founders and investors, particularly in the foundational stages of a company’s development.

Ironclad’s experience demonstrates the value of proactive board engagement and a shared understanding of long-term objectives.

Loughlin’s involvement signifies a strategic partnership focused on fostering sustainable growth and navigating the complexities of the market.

TC Early Stage: A Key Event for Startup Founders and Investors

Scheduled for April 1st and 2nd, TC Early Stage will feature insights from leading founders and venture capitalists.

These experts will detail their strategies for company development, fundraising, and portfolio management.

Comprehensive Topics for Startup Growth

The event’s agenda encompasses crucial areas for startups, including recruiting, sales, legal considerations, PR, marketing, and brand building.

Each session is designed to facilitate interaction, with significant time allocated for questions from attendees and open discussion.

Exclusive Discount for Newsletter Subscribers

A 20% discount on TC Early Stage tickets is available using the code ECNEWSLETTER.

Don't miss this opportunity to learn from the best and network with key players in the startup ecosystem.

#electric commerce#BNPL#buy now pay later#growth marketing#solid state batteries#startups

Walter Thompson

Walter Thompson: A Profile of TechCrunch’s Editorial Leadership

Walter Thompson currently serves as Editorial Manager at TechCrunch, where he is responsible for the oversight of the publication’s guest contributor program.

This program encompasses both TechCrunch+ articles and opinion pieces focusing on topics related to the technology sector.

Professional Background and Experience

Prior to his role at TechCrunch, Thompson gained experience working with several startup companies, fulfilling diverse roles within those organizations.

He also held the position of City Editor at Hoodline, demonstrating his editorial and management capabilities.

Additional Endeavors

Beyond his work in digital publishing, Walter Thompson is also a podcast host.

He created and hosts The Golden City, a podcast dedicated to exploring the city of San Francisco and its unique characteristics.

The podcast provides insights into the culture, events, and people of San Francisco.

Key Responsibilities at TechCrunch

  • Managing the submission and review process for guest articles.
  • Ensuring the quality and relevance of contributed content.
  • Overseeing the publication of TechCrunch+ pieces.
  • Facilitating the sharing of diverse perspectives on technology.
Walter Thompson