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The startup market is taking on more and more risk - techcrunch

The startup market is taking on more and more risk

Welcome back to The TechCrunch Exchange, a weekly startups-and-markets newsletter for your weekend enjoyment.
techcrunch - 2 hours ago
Paris asks scooter sharing services to restrict speed to 10km/h - techcrunch

Paris asks scooter sharing services to restrict speed to 10km/h

Riding a scooter in Paris will soon feel incredibly… slow. The City of Paris has announced that scooter sharing services should restrict the maximum top speed to 10km/h (that’s 6.2mph). That decision comes following a number of pedestrian injuries that involved a scooter. Paris has been an important market for scooter sharing companies. It’s a […]
techcrunch - 1 day ago
Apple’s mixed reality headset may be a standalone device - techcrunch

Apple’s mixed reality headset may be a standalone device

Apple's long-rumored mixed reality headset will be powered by two processors, according to renowned analyst Ming-Chi Kuo. In Kuo's latest research report, and won't need to be tethered to an iPhone.
techcrunch - 1 day ago
Italy fines Apple and Google for ‘aggressive’ data practices - techcrunch

Italy fines Apple and Google for ‘aggressive’ data practices

Apple and Google have been fined €10 million apiece by Italy’s competition and market authority (AGCM) which has found they did not provide their users with clear enough information on commercial uses of their data — in violation of the country’s consumer code. The regulator also accuses the pair of deploying “aggressive” practices to push […]
techcrunch - 1 day ago
Our Black Friday discounts end soon — grab your $20 pass to TC Sessions: Space - techcrunch

Our Black Friday discounts end soon — grab your $20 pass to TC Sessions: Space

If you celebrated the American Thanksgiving yesterday, you’re probably stuffed to the gills and barely able to move. Good news, though. It takes only a few clicks — no cardio required — to score a $20 pass to TC Sessions: Space 2021 before our Black Friday sale ends Sunday, November 28 at 11:59 pm (PT). […]
techcrunch - 1 day ago
IoT data collector Samsara’s IPO will be fun to watch - techcrunch

IoT data collector Samsara’s IPO will be fun to watch

Samsara would have to command a revenue multiple of just under 12x to meet its final private price. Will it manage that? Er, yes. Yes, it will.
techcrunch - 1 day ago
Jefa raises $2 million for its challenger bank for women in LATAM - techcrunch

Jefa raises $2 million for its challenger bank for women in LATAM

Fintech startup Jefa has raised a $2 million seed round to build a challenger bank with a product specifically designed for women living in Latin America and the Caribbean. The company has managed to attract 115,000 women on its waitlist and participated in TechCrunch’s Startup Battlefield last year. Investors in Jefa include The Venture Collective, […]
techcrunch - 1 day ago
Germany’s incoming government wants to end coal use by 2030 - techcrunch

Germany’s incoming government wants to end coal use by 2030

Germany plans to phase out coal by 2030, eight years earlier than previously planned, as part of its latest climate pledge. That same year, it wants 80% of its electricity sourced from renewables.
techcrunch - 1 day ago
PPC Affects After BERT Update; Impact on Promoters - readwrite

PPC Affects After BERT Update; Impact on Promoters

Google makes constant updates to the algorithms every year for increasing relevance in the SERP. As an online marketer, you are already aware of this fact. So far, BERT has been one of the most significant algorithm updates rolled out by Google and is considered the most significant change since the search engine giant released […] The post PPC Affects After BERT Update; Impact on Promoters appeared first on ReadWrite.
readwrite - 2 days ago
Vauban, an AngelList-like platform for VCs and angels to run and raise funds, closes $6.3m - techcrunch

Vauban, an AngelList-like platform for VCs and angels to run and raise funds, closes $6.3m

It’s always been a slight puzzle why AngelList never really properly took off in Europe, especially when, a few years ago, there was such a dearth of funding options for poorly served European startups. But the reasons are fairly simple when you look at them. For starters, the US tech industry boomed in the last […]
techcrunch - 2 days ago
Astroscale raises $109M for its on-orbit services technology - techcrunch

Astroscale raises $109M for its on-orbit services technology

Japanese space startup Astroscale has raised $109 million in a new Series F round of financing, brining the company’s total funding raised to date to $300 million. The company specializes in on-orbit servicing technology, designed to help reduce the amount of debris that exists in operating orbital altitudes, and also to extend the life of […]
techcrunch - 2 days ago
Perfeggt brings in first capital to shell out plant-based egg alternative - techcrunch

Perfeggt brings in first capital to shell out plant-based egg alternative

Worldwide, over 1.3 trillion eggs are produced annually, and Perfeggt co-founders believe this market is largely untapped and has room to grow with plant-based alternatives.
techcrunch - 2 days ago
Pyxo wants to build the biggest network of reusable food containers - techcrunch

Pyxo wants to build the biggest network of reusable food containers

Meet Pyxo, a French startup that has been thinking a lot about single-use plastic food packaging for the past three years. The company wants to offer a service that makes it as easy and as cost-efficient to use reusable food storage containers at scale. The idea behind Pyxo comes from a fair at the Tuileries […]
techcrunch - 2 days ago
Pet video marketplace Camlist eyes UK growth after raising $1.3 million pre-seed funding - techcrunch

Pet video marketplace Camlist eyes UK growth after raising $1.3 million pre-seed funding

Camlist, a video marketplace for pets, has raised $1.3 million in a pre-seed round, funding that the startup plans to use to develop its platform and grow its workforce — as it looks to expand its reach in the UK, its second market (after the U.A.E.), which it entered earlier this year. Unlike other marketplaces, […]
techcrunch - 2 days ago
Ant is changing how consumers borrow money from its app - techcrunch

Ant is changing how consumers borrow money from its app

In December 2020, Beijing laid out a guideline for Ant Group to “rectify” its business after calling off its IPO, which could have been the largest initial public offering in history. In the plan, regulators asked Ant to revamp its credit business, among other changes that would make it subject to the same set of […]
techcrunch - 2 days ago
How Pilot convinced Index Ventures to think long-term about margins - techcrunch

How Pilot convinced Index Ventures to think long-term about margins

Whether you agree or not, it's hard to ignore the fact that the multipliers in Silicon Valley and the growth of software businesses have changed the way we think about a startup's timeline.
techcrunch - 2 days ago
Coinbase acquihires team behind BRD crypto wallet - techcrunch

Coinbase acquihires team behind BRD crypto wallet

As crypto proponents look to onboard a new generation of users, one of the major consumer onramps has been a host of consumer wallet apps with slick interfaces. Today, Coinbase announced that it is bringing on the team from BRD — a crypto wallet startup that first launched its mobile wallet back in 2014. While […]
techcrunch - 2 days ago
Robots and AI assist in designing and building Swiss university’s ‘hanging gardens’ - techcrunch

Robots and AI assist in designing and building Swiss university’s ‘hanging gardens’

Architecture and construction have always been, rather quietly, at the bleeding edge of tech and materials trends. It’s no surprise, then, especially at a renowned technical university like ETH Zurich, to find a project utilizing AI and robotics in a new approach to these arts. The automated design and construction they are experimenting with show […]
techcrunch - 3 days ago
TabTrader raises $5.8M for a mobile app that aggregates crypto exchange data - techcrunch

TabTrader raises $5.8M for a mobile app that aggregates crypto exchange data

As many of the top cryptocurrencies seem to temporarily stabilize near all-time-highs, users looking to speculate on tokens that are a bit more volatile are searching across exchanges to find deals. Amsterdam-based startup TabTrader has been capitalizing on this search with a platform that aggregates prices and token availability across dozens of exchanges. While other […]
techcrunch - 3 days ago
Head of Instagram Adam Mosseri will testify before the Senate on teen mental heath - techcrunch

Head of Instagram Adam Mosseri will testify before the Senate on teen mental heath

Head of Instagram Adam Mosseri will testify before the Senate for the first time as part of a series of hearings about online safety for children and teens. Per the New York Times, Mosseri’s hearing will take place on December 6. Mosseri’s upcoming testimony comes after Sen. Richard Blumenthal (D-CT) wrote a letter to Facebook […]
techcrunch - 3 days ago
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jezebel
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venture beat
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techcrunch
An interview with Visionary Founder/CEO on Large Unicorn’s IPO day

An interview with Visionary Founder/CEO on Large Unicorn’s IPO day

techcrunch - 1 month ago

Continuing our series of interviews with leading technology luminaries, The Exchange recently caught up with Visionary Founder/CEO at Large Unicorn as its IPO priced and began to trade this week.

After a rapid-fire series of S-1 filings, Large Unicorn priced above its own expectations, raising more capital than it had likely anticipated during the lead-up to its public offering.


The Exchange explores startups, markets and money.

Read it every morning on TechCrunch+ or get The Exchange newsletter every Saturday.


Our first read that Large Unicorn’s IPO pricing saga indicated strong public market interest for its equity was born out when it began to trade this morning, with its shares appreciating sharply in early trading. Regular commentary regarding the value, lack of importance, or sheer perniciousness of IPO pops was alight on Twitter, of course.

To better understand the company’s IPO and the path Visionary Founder/CEO took to the public markets, we got them on the blower. What follows is a loosely edited transcript of our call, condensed modestly for readability.

Let’s have some fun!

The Exchange: Kicking off, your company priced above expectations. What can you tell us about the current appetite for high-growth, unprofitable technology shares among public-market investors?

Visionary Founder/CEO: Hey, thanks Alex. Yeah, we were impressed with how sophisticated the market was. People really seemed to get Large Unicorn’s growth story, and how massive our market is. You know, with folks in Industry X and Industry Y really turning into digitally accelerated front-line leaders as opposed to the old labor model, we really do feel like public-market investors see the long haul. We’re building for the next 1,723 years over here at Large Unicorn.

The Exchange: Got it, got it. One thing everyone noticed was that after pricing at $XX per share, you opened at $XXX per share. Did Large Unicorn leave money on the table?

Visionary Founder/CEO: Yeah, great question. [pause, sound of paper shuffling] Look, an IPO is not the finish line; it’s really just another chapter in our longer journey. A milestone. So, I’m not looking at the share price today. And I’ll tell you what I told the company earlier this week: It’s business as usual.

The Exchange: But you don’t feel like your company was underpriced? You aren’t irked that you could have raised more capital at what appears to be the market-clearing price?

Visionary Founder/CEO: The company is well-capitalized now, and we’re looking ahead. And I’ll tell you, Alex, that we got the investors we wanted. I’m talking about long-term holders of our stock. But really, it’s all about the next 17 decades, not the next quarterly earnings report.

The Exchange: OK. You raised a lot more capital than you probably intended to, post-IPO pricing issues aside. So what does the extended balance sheet unlock for the company?

Visionary Founder/CEO: Yeah, Alex, listen, our market is 78 quadrillion dollars, and our current run rate is 78 cents, or less than a dollar per year, so we’re going to go out there and bring Large Unicorn’s key business-empowering services to more folks. We’re going to unlock the potential of the power, the power of potentiality, and, potentially, power itself. Businesses will be accelerated, and if you recall the first time we spoke, I told you that [inaudible] and how that would [inaudible] Mars [inaudible] EBITDA [inaudible].

The Exchange: Hey, I lost you there for a moment — are you on a landline or cell phone? Want me to call you directly?

sauce: techcrunch
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