bbc
gadgets to use
geeky gadgets
gizmodo
jalopnik
jezebel
kotaku
lifehacker
ny times
pocket lint
readwrite
tech republic
tech world
techcrunch
technology
the inventory
the next web
venture beat
wired
count
sauces
help
I'm confused... What am I doing here?

Choose which sources you wish to remain and you're all set. Use the buttons to turn sources on and off.

What do the different colours mean?

Depending on if any articles/links are visible on the page there are 4 modes to show the state of your chosen sources.

on / visible on page

off / visible on page

on / not visible on page

off / not visible on page

Sequoia’s Mike Vernal outlines how to design feedback loops in the search for product-market fit - techcrunch

Sequoia’s Mike Vernal outlines how to design feedback loops in the search for product-market fit

"Finding product-market fit is not a deterministic process. Most of the time, it requires iteration. It requires constant adaptation."
techcrunch - 1 day ago
Blizzard lawsuit, Dead Space, Respawn, Dragon Age 4, and more | GB Decides 206 - venture beat

Blizzard lawsuit, Dead Space, Respawn, Dragon Age 4, and more | GB Decides 206

Working at Blizzard sounds like a challenge for women and minorities, and in some instances, it sounds like a nightmare. At least, those are the allegations in California Department of Fair Employment and Housing’s Blizzard lawsuit. The crew discusses that on this episode of the GamesBeat Decides podcast. GamesBeat editors Mike Minotti and Jeff Grubb […]
venture beat - 1 day ago
Hear Startup Alley companies pitch expert VC judges on the next episode of Extra Crunch Live - techcrunch

Hear Startup Alley companies pitch expert VC judges on the next episode of Extra Crunch Live

We know how much you love a good startup pitch-off. Who doesn’t? It combines the thrill of live, high-stakes entertainment with learning about the hottest new thing. Plus, you get to hear feedback from some of the smartest folks in the industry, thus learning how to absolutely crush it at your next pitch meeting with […]
techcrunch - 1 day ago
Automakers have battery anxiety, so they’re taking control of the supply - techcrunch

Automakers have battery anxiety, so they’re taking control of the supply

Battery joint ventures have become the hot must-have deal for automakers that have set ambitious targets to deliver millions of electric vehicles in the next few years.
techcrunch - 1 day ago
Peer-to-peer car rental startup Getaround fined nearly $1M by DC’s Attorney General - techcrunch

Peer-to-peer car rental startup Getaround fined nearly $1M by DC’s Attorney General

Getaround was fined nearly $1 million by the Washington D.C. Office of the Attorney General for operating without a license and other violations, part of a settlement of what the peer-to-peer car rental startup calls “politically motivated allegations.” The AG’s office started investigating the company early last year, after it received reports of vehicle thefts […]
techcrunch - 1 day ago
Pro tips from the team behind Kickstarter’s most funded app - techcrunch

Pro tips from the team behind Kickstarter’s most funded app

We're sharing our approach and secrets to building a successful crowdfunding campaign because we know just how tough it can be to launch your own product.
techcrunch - 1 day ago
Rivian raises another $2.5B, pushing its EV war chest up to $10.5B - techcrunch

Rivian raises another $2.5B, pushing its EV war chest up to $10.5B

Rivian announced Friday that it has closed a $2.5 billion private funding round led by Amazon’s Climate Pledge Fund, D1 Capital Partners, Ford Motor and funds and accounts advised by T. Rowe Price Associates Inc. Third Point, Fidelity Management and Research Company, Dragoneer Investment Group, and Coatue also participated in the round. “As we near […]
techcrunch - 1 day ago
Growth marketing roundup: TechCrunch Experts, creative testing and how to nail your narrative - techcrunch

Growth marketing roundup: TechCrunch Experts, creative testing and how to nail your narrative

Growth marketer Maya Moufarek: "It’s all about simplifying your strategy into something that is digestible, memorable and applicable.”
techcrunch - 1 day ago
SOSV partners explain how deep tech startups can fundraise successfully - techcrunch

SOSV partners explain how deep tech startups can fundraise successfully

'In deep tech, it's essential to think about founder-investor fit. And what we mean by this is understanding why an investor is even in VC in the first place.'
techcrunch - 1 day ago
Judge denies Wisk Aero’s request for preliminary injunction against Archer Aviation - techcrunch

Judge denies Wisk Aero’s request for preliminary injunction against Archer Aviation

Electric aviation startup Wisk Aero’s request for a preliminary injunction against rival Archer Aviation was denied by a federal judge Thursday, the latest in an ongoing legal battle over whether Archer stole trade secrets in developing its flagship Maker aircraft. A full written opinion has not yet been published. In a tentative ruling filed earlier […]
techcrunch - 1 day ago
GM recalls Bolt EVs once again over fire risks - techcrunch

GM recalls Bolt EVs once again over fire risks

Devindra Hardawar Contributor Devindra Hardawar is a Senior Editor at Engadget. GM is issuing a second recall for 2017 to 2019 Bolt EVs over potential fire issues. The company says it plans to replace defective batteries, but until it can do so it’s advising Bolt customers to limit their charging up to 90 percent, and […]
techcrunch - 1 day ago
Snap had its best quarter in four years - techcrunch

Snap had its best quarter in four years

If you’ve started using Snapchat more regularly this year, you’re not alone. At yesterday’s Q2 earnings call, Snap CEO Evan Spiegel announced that the platform grew both revenue and daily active users at the highest rates it has achieved in the last four years. Snapchat now has 293 million daily active users, growing 23% since […]
techcrunch - 1 day ago
Mint’s first PM raises millions for Monarch, an Accel-backed money management platform - techcrunch

Mint’s first PM raises millions for Monarch, an Accel-backed money management platform

Monarch, a subscription-based platform that aims to help consumers “plan and manage” their financial lives, has raised $4.8 million in seed funding. Accel led the round, which also included participation from SignalFire, and brings the Mountain View-based yet fully distributed startup’s total funding since its 2019 inception to $5.5 million. Co-founder and CEO Val Agostino […]
techcrunch - 1 day ago
China’s expected edtech clampdown may chill a key startup sector - techcrunch

China’s expected edtech clampdown may chill a key startup sector

When it comes to control, the Chinese government doesn't mind wiping out a few dozen billion dollars in market cap here and there. That's not a great system.
techcrunch - 1 day ago
How an AI entrepreneur deals with dirty real-world data - venture beat

How an AI entrepreneur deals with dirty real-world data

Women in the AI field are making research breakthroughs, spearheading vital ethical discussions, and inspiring the next generation of AI professionals. We created the VentureBeat Women in AI Awards to emphasize the importance of their voices, work, and experience, and to shine a light on some of these leaders. In this series, publishing Fridays, we’re […]
venture beat - 1 day ago
Checkout is the key to frictionless B2B e-commerce - techcrunch

Checkout is the key to frictionless B2B e-commerce

Checkout is a platform play, not a payments play, and now is the time to build the category in B2B. Business buyer behavior is changing, and the stars are aligning on the fintech infrastructure front.
techcrunch - 1 day ago
Lucid Motors’ SPAC merger approved after executives issue plea to shareholders to vote - techcrunch

Lucid Motors’ SPAC merger approved after executives issue plea to shareholders to vote

Shareholders approved Friday EV startup Lucid Motors’ merger with special purpose acquisition company Churchill Capital IV, after the companies extended the deadline by one day because not enough retail investors showed up to cast their vote. The issue is an unusual but could become more common as more companies eschew the traditional IPO path to […]
techcrunch - 1 day ago
Alphabet’s Intrinsic aims to make industrial robots more capable - techcrunch

Alphabet’s Intrinsic aims to make industrial robots more capable

Alphabet’s public-facing history with robotics has, thus far, been a spotty one. Most notably, Google X’s big acquisition push culminated in its selling Boston Dynamics to Softbank (who eventually flipped it to Hyundai). Alphabet/Google’s subsequent approach has been less flashy and focused on more immediate robotic tasks. Unveiled today through the X blog, Intrinsic certainly […]
techcrunch - 1 day ago
Duolingo’s bellwether IPO - techcrunch

Duolingo’s bellwether IPO

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. We were smaller team this week, with Natasha and Alex together with Chris to sort through yet another summer frenzy of a week. This time around we actually recorded live on Twitter Spaces, which was a first for the podcast. […]
techcrunch - 1 day ago
Payments company Paystone raises $23.8M to help service-based businesses engage with customers - techcrunch

Payments company Paystone raises $23.8M to help service-based businesses engage with customers

Paystone provides electronic payments and customer engagement technology to businesses, particularly those that provide services.
techcrunch - 1 day ago
LOAD MORE TECH
bbc
gadgets to use
geeky gadgets
gizmodo
jalopnik
jezebel
kotaku
lifehacker
ny times
pocket lint
readwrite
tech republic
tech world
techcrunch
technology
the inventory
the next web
venture beat
wired
count
sauces
help
I'm confused... What am I doing here?

Choose which sources you wish to remain and you're all set. Use the buttons to turn sources on and off.

What do the different colours mean?

Depending on if any articles/links are visible on the page there are 4 modes to show the state of your chosen sources.

on / visible on page

off / visible on page

on / not visible on page

off / not visible on page

techcrunch
Filing: Instant grocery startup Gopuff is raising $750M more at a $13.5B valuation

Filing: Instant grocery startup Gopuff is raising $750M more at a $13.5B valuation

techcrunch - 2 days ago

Gopuff, the “instant” grocery delivery startup that has been on an acquisition and expansion tear in the last several months to scale its business, is also racing to raise money to fuel those efforts. Documents uncovered by Prime Unicorn Index and shared with TechCrunch show that the startup has filed papers in Delaware to raise up to $750 million in a Series H round of funding — at a valuation of $13.5 billion if all shares are issued.

We have reached out to the company to confirm the details, and whether the round has been closed, and will update as we learn more. Spokespeople did not respond to emails and phone calls before publication.

As with all Delaware filings, they only tell part of the story, and the company might ultimately raise more or less before the round closes.

For some funding context, it was only in March that Gopuff raised $1.15 billion at an $8.9 billion valuation. And that round came just months after a $380 million round (at a $3.8 billion) valuation. With Gopuff’s instant grocery model comes instant funding, it seems: together the three rounds would total around $2.25 billion in funding in the space of 10 months. (Investors in the company’s previous rounds have included Accel, D1 Capital Partners, Fidelity Management and Research Company, Baillie Gifford, Eldridge, Reinvent Capital, Luxor Capital, and SoftBank.)

Much like the investment race in the transportation-on-demand market, a large part of the fundraising in instant grocery seems to be aimed at scaling as fast as possible to build technological, operational and customer moats.

So for Gopuff, some of the money it’s raised so far has been used to expand organically. That is, it’s investing to acquire new customers and build out its infrastructure — riders, “dark” stores stocked with their products, and most recently “Gopuff kitchens” — within the 650+ cities in the U.S. where it already operates its $1.95 flat fee “in minutes” delivery service. It will likely be doing so at a particularly fast pace, considering that others like DoorDash are also moving in to compete in earnest around the same model for quick deliveries of a limited selection of food and drinks, home essentials, and over-the-counter medication.

But alongside that, some of the cash it is amassing is also being used for acquisitions. So far, these have been limited to the U.S. and to expand Gopuff’s breadth in that market. It bought alcohol retailer BevMo for $350 million in November 2020; and in June of this year Gopuff acquired logistics tech company rideOS for $115 million.

The next stage of that acquisition process looks like it may be focused on snapping up similar companies in key markets where Gopuff wants to be in the future, particularly internationally, as it works to fill out a reported ambition of reaching $1 billion in revenues this year (3x last year’s numbers).

In June, there were rumors around that Gopuff had approached Flink, an instant grocery player in Germany. While that has not gone anywhere (yet?), well-placed sources have told us — and, it seems, others — that Gopuff is also casting its international eye on England, engaging in discussions to acquire two different instant delivery companies based out of London, first Fancy back in February, and more recently, Dija.

London is a hugely competitive market for instant grocery delivery at the moment — not least because it is dense and often hard to get around, has demonstrated a strong consumer appetite for on-demand delivery services, and has a population of younger people with a decent amount of disposable income to pay a little more for convenience.

That speaks of opportunity, but also possibly too many hopefuls as well. In addition to Dija and Fance, we have Turkey’s Getir, backed by Sequoia and a number of others on an ambitious international roll at the moment; Gorillas (like Flink, from Berlin); Zap; and Weezy — all offering “instant” grocery delivery. And these are just the standalone, newer startups. Still to come: established restaurant delivery players like Deliveroo that might also throw their hats into the ring.

Perhaps unsurprisingly, given that field, we’ve heard that Dija has been struggling to raise more money, and that led to the startup looking for buyers as an alternative.

That is a trend that’s playing out elsewhere too: In Spain Getir earlier this month acquired Blok, another new instant player that was struggling to get investors on board. We confirmed with well-placed sources that Dija had also talked with Getir in this context (that didn’t go anywhere) before Gopuff entered the picture. There will likely be more of these.

“It’s going to be a bloodbath,” is how one big investor recently described the instant grocery market to me.

Given that online grocery remains a relatively minor part of the market — even with the pandemic and its habit-changing impact on e-commerce, it’s still under 10% of sales, even in the most adoption-friendly cities — there is still a lot to play for in “instant” groceries. But if this latest round shows us anything, it’s that the most promising of these delivery companies will continue raising a lot more money to position themselves as consolidators within it.

Additional reporting: Natasha Lomas

sauce: techcrunch
CLOSE