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Hi everyone and welcome to Daily Crunch for December 28, 2021!
Hope you all stay dry, warm and safe as we come to the end of another strange year. I haven’t heard of Alexis how’s his vacation going, which hopefully means he’s having a good time and playing Crusader Kings III way too much.
Alex is expected to be back next week. In the meantime, I’ll try to be half as good at summarizing the best stories from the night before.
The Top 3 TechCrunch
- WTF is .xyz? : Have you noticed the sudden increase in “.xyz” domains in the wild? You wonder why ? Anita Ramaswamy has a great insight into the history of .xyz, its growing role in the world of Web3, and how Google / Alphabet may have started the trend.
- Black Girls Code CEO suspended: What’s going on at Black Girls Code? Why was the CEO and co-founder of the nonprofit, Kimberly Bryant, suddenly suspended? Natasha Mascarenhas spoke to many people involved to get answers.
- “The Matrix: Resurrections” is a bad movie, but…: I still haven’t watched the new “Matrix” (I have a toddler running around, so watching a movie without songs and / or animated dogs is rare) so I can’t guarantee the title of Devin, but I ‘appreciates that he finds a diamond (the film’s take on our relationship with tech) in what he otherwise considers rough (everything else.) Spoiler warnings, by the way.
Startups / VC
- Where New Zealand startups are poised to win: The startup scene in New Zealand is literally skyrocketing. Besides rockets, where else could New Zealand find victories? Rebecca Bellan spoke to investors in the region and came away with four verticals to watch.
- Religious apps grab the attention of investors: I will never stop being amazed by Connie Loizos’ ability to spot trends that I would never have noticed. This time around, it’s a huge increase in investment in faith-based apps – from $ 6.1 million in 2016 to $ 175 million this year. Connie caught up with the founder of one of these apps (Hallow) to get a taste of the landscape.
How to be one of the “haves” of SaaS
Software as a service has leveled the playing field for startups over the past decade, but in terms of venture capital, the winners always win it all.
According to Sean Fanning, vice president of the OpenView investment team, companies that show exceptional growth often take the bulk of the venture capital investment, leaving the underperforming to fight for crumbs.
In a detailed article, Fanning shares three tactics used by SaaS companies with attractive Business Value / Income (EV / R) multiple:
Continuous execution against significant and growing market opportunities.
Leverage a business model that enables rapid growth (i.e. product-driven growth).
A strong unit economy that supports high free cash flow margins over the long term.
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Big Tech Inc.
- Even more companies are dropping out of CES in person: Large companies continue to pull out of the Consumer Electronics Show due to concerns about COVID. Following announcements from Intel, T-Mobile, Google, Amazon, Twitter, and others last week, the latest are AMD, OnePlus, MSI, and Procter and Gamble.
- Dutch regulators demand changes on the App Store: Looks like South Korea started something global with its App Store legislation back in August. The Netherlands is the latest country to ask Apple to change its in-app purchase requirements.
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