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The TechCrunch Top 3
- Price cut in aisle five: Invesco cuts Indian food delivery giant Swiggy’s valuation to $5.5 billion. In October, the valuation was cut to $8 billion. Manish writes, “The recent valuation reductions bring a fresh perspective to the effects of waning global market conditions on Indian startups”; where funding was down, valuations didn’t follow.
- Bet paid off: Qualcomm acquires Autotalks, reportedly for $350 million to $400 million, to boost Snapdragon’s automotive safety technology. Ingrid writes that this deal didn’t come as much of a surprise, noting, “In the world of advanced automotive technology, safety has become one of the most important issues, but also one of the most lucrative opportunities, in the building of autonomous and driver-assisted systems.”
- Don’t blink or you’ll miss it: Ingrid also wrote about Go1, which acquired Blinkist, a speed reading app, with plans to expand enterprise learning.
Startups and VC
When my husband and I bought our first house, we were eager to see builders break ground and get it built. Months later, we were still waiting in what the builder said was a municipality holdup — aka, permits weren’t being issued fast enough. After reporting on PermitFlow’s new $5.5 million round, I now know why this is a problem.
Meanwhile, Natasha M spoke to Mayfield’s Navin Chaddha about the VC firm’s new $955 million fund, writing that now that the firm is bigger — and busier— “the capital will be used to ramp up the firm’s investment cadence in a more realistic market. Chaddha also admits that Mayfield has missed out on a lot of opportunities because of high valuations, but that he’s okay with it.”
Now here’s four more for you:
NFX’s James Currier: Where unicorn ideas come from and why founders ‘have to keep pivoting’
Are you a seed-stage founder who’s building a unicorn?
NFX founding partner James Currier would like to save you some time: Startups that grow into billion-dollar companies have three basic forms of defensibility:
- Network effects: Your product becomes more valuable as more people use it.
- Embedding: Integrate your services so deeply, customers “cannot rip them out.”
- Data loops: Gather, process and act on real-time data.
“This is really only talking about world-changing, big-ass businesses with a lot of impact that could be a billion dollars or more in value,” he said at TechCrunch Early Stage last month.
Three more from the TC+ team:
Big Tech Inc.
Hey, Twitter users, your follower count is about to drop, according to Elon Musk. Sarah reports that Twitter will purge old accounts that haven’t tweeted in a while. The good news is that you might be able to get a better username, depending on which account it is. Happy hunting! Also in bird news, Ivan writes that the social media giant is discussing a cheaper organizational verification plan.
And here’s four more for you:
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