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Are we about to see a unicorn selloff? – TechCrunch

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Welcome to the weekend! We have a a lot of Lots to do today so pour yourself a coffee, get comfortable and roll with me.

The big sale?

Remember when amplitude listed directlybegan to act, and then ran into a wall when it reported Q4 2021 results? It was hardly the only company among publicly traded tech companies to haircut early in 2022, but the scale of the re-rating remained. Now is Instacart go through something similaralbeit in the private markets.

Should we expect more private companies to also change their stock price valuation to better encourage new hires to come on and current employees to stay? Maybe. Jeff Richards of GGV had some food for thought Friday:

Yes. There is no way around the market. You can delay reality by raising venture capital and not seeing a re-rating until you raise again. For sure. But if you’re a late-stage unicorn with plenty of cash, how do you determine your market value if you don’t raise new funds?

If Instacart is the Start of a Trend, Flat Could Really Be – Once again – the new thing when it comes to startup reviews.

Technori finds a new home

A little fact about me is that I went to school in Chicago, so I was in and around the city’s tech scene as a baby journalist. That meant going to community events to get a better understanding of what was going on. I met Justin Howard when Sprout Social was a startup (it is public now) and I had to go to Uber’s launch dinner downtown when there were only black cars. (It was there that I met my first TechCrunch reporter, who later helped me get hired at publication for the first time.)

There was a community effort back then called Technori, which hosted events showcasing local engineering efforts. It was fun.

Since Technori developed into a kind of media game with a podcast and pitch events that supports startups in raising capital through equity crowdfunding. I reconnected with the company when its CEO, Scott Kitunhad me on the podcast. And now Technori is back in our lens because it’s on sale KingsCrowd, a service that reviews and rates startups growing up on online platforms. Given that Technori has evolved into a platform that helps people grow, the connection seems reasonable.

The transaction was all-stock, Kitun said. KingsCrowd also has a media strategy, so the two companies overlap more than slightly.

Kitun told The Exchange in an interview that he’s excited about the Technori-KingsCrowd deal because it will make the vetting of startups looking for equity crowdfunding more data-driven, rather than based on his instincts. We’ll have to wait and see if the two companies can drive more aggregate capital into the startup market via the fundraising mechanism over time, and how much of that ends up in Chicago.

Remember to widen our lens a bit The public recently bought Otis, which wants to add more investment variety to its platform. We can put the Technori and KingsCrowd deal under a somewhat similar umbrella as the duo want to make a new investment in the hands of the ordinary person.

This probably won’t be the last we hear from Kitun as he is a co-founder of SongFinchan independent company.

Changes in the expert program

This week I switched roles at TechCrunch, trading my full-time reporter hat for a job as Editor-in-Chief at TechCrunch+. Longtime readers of The Exchange On-site posts and newsletters will know that a lot of my work over the past few years has been on the paid site. I’m not quite stopping writing, but we’re aggressively expanding the TechCrunch+ team. In order to, buckle up if you are not already a member. (For US residents, apply discount code EIICEXCHANGE at checkout for a 25% discount.) It’s going to be a hell of a year.

We’re making some changes, including retiring the Expert Program, which has been running for a number of years. An attempt to create a database of start-up service companies by activity – Let’s say SEO — was part of our overall spirit of helping founders build. But from now on, we’ll be evolving the effort into parts aimed more at squeezing insights from different operators in the market than creating a list of possible providers.

However, this means we are leaving some fruit on the vine, so a final note from Experts Land on a participant. growth curve is the last company we are adding to the old format. According to this ancient structure, people wrote to support the group. Mariam Danielova from Anna money says that she is reliable, result-oriented, [and] data-driven,” which is about all you can expect from a growth marketing team.

Something I learned as I cleaned up the TechCrunch+ decks from previous efforts and thus spent time reading through older interview files and the like, was the continuing importance of SEO. It showed up in the founder of Growthcurve Mulenga Agleys Notes I’ve been analyzing and I’m wondering if it becomes all the more relevant in the new iOS 14 world we live in? If so, bullying for google I suppose.

Regardless, The Exchange is owned Anna home will still undertake some guidance with external operational experts. It’s just going to be a little different this year. Thank you to everyone who has participated in the past and to Growthcurve for being the last entrant on the ledger.

Further!



Are we about to see a unicorn selloff? – TechCrunch Source link Are we about to see a unicorn selloff? – TechCrunch

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