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This week, cryptocurrency exchange platform Coinbase announced that it will be launched. Unique NFT platform It will use the existing NFT platform, OpenSea. Some technicians properly point out that both Coinbase and OpenSea are backed by Andreessen Horowitz, leading to questions about the competitive conflicts that can arise from having a co-investor () It’s unclear if a16z sold its shares in Coinbase after it went public).
As we discussed equity this week, the idea of having a competitive company in the same portfolio is offensive. This can affect how open each company is to investors, as we saw in Hinge Health. Duplicate advisors cause tension. It’s a fair argument.
But is it just me, or does the competition sound a bit inevitable? As venture companies, especially institutions like a16z, grow, I find it unrealistic to think that the vision of portfolio companies in booming sectors like FinTech and Crypto will not overlap. Another a16z-backed company, Clubhouse, ran into a wave of competitors after its debut. At that time, he joked that it was only a matter of time before one of the company’s portfolio companies moved to social audio.
In a rapidly trading and booming sub-sector world, competitive conflicts will continue to grow. Imitation keeps startups at a higher standard. If the startup can copy your idea and win completely based on it, shared investors are probably not your problem. Sure, we need to go through some process to prevent board members from attending meetings with their closest competitors, but beyond the extremes, what constitutes a conflict. The border is ambiguous.
I’m tough, but that’s my first reaction. Competitors can eat your lunch at any time, but with great OpenSea, that probably means it’s time to swim a little deeper.
Funds for and funded by South Asian female entrepreneurs
As a South Asian woman, I was thrilled to see the emerging fund manager world gaining a new influx of my people this week. The Neythri Futures Fund has announced that it has closed a $ 10 million fund with investments from major men and women in South Asia.
Here’s what you need to know: According to founding managing partner Mythili Sankaran, the fund attracts 200 investors, 90% South Asian women and 70% first-time investors.It was built on the AngelList we’ve been working on A set of SaaS tools for venture capitalists.
More money, less problems:
ClassPass got off the treadmill and embarked on a new truck
ClassPass was acquired by Mindbody Half of the TC staff were actually excited about all-stock trading. ClassPass helps fill training classes with consumers for those who don’t know. Mindbody, on the other hand, provides software to help fitness centers and boutique shops run their businesses better.
Here’s what you need to know: It felt sensual and clever, two words to be related to the acquisition.
By combining forces, Mindbody / ClassPass entities can have great growth opportunities. ClassPass studios that don’t use booking software (about one-third of ClassPass studios, according to Lanman) have the opportunity to sign up for Mindbody.
Mindbody consumer businesses have the opportunity to double their experience by signing up for ClassPass subscriptions and accessing those studios. And of course, gyms and studios that use à la carte bookings with a mind body may also be upsold to ClassPass. — Jordan Crook
When M & A runs out:
The story of two travel stories
At Equity this week, the TechCrunch team looked at how two travel-focused startups overcame a pandemic and pivoted and rebounded. Between one startup I chose to focus on a flexible life, Another decided to go to the FinTech route.
Here’s what you need to know: Trip Actions Revenue from $ 0 to $ 7.25 billion By evaluation. How? As Mary Ann reports, TripActions has provided a way to support customers through growth and expense management, devoting themselves to the very early fintech products launched a month before the pandemic. .. This news reminds us that all startups are ultimately fintech companies.
Fintech and its friends:
This week I’m going to convince you that one of the best, free ways to build a better venture support business is … TechCrunch Live.. A weekly event organized by some of the best insiders in the publication connects founders and investors who fund them in a cool chat.
The TC will write a check, request details, and interview investors about the thinking process in reverse engineering the largest transaction ever. Then, later in each episode, the founders of the audience are encouraged to jump into our virtual stage to market their products and receive live feedback from the respected duo.
Last week, Chime founder and CEO Chris Britt and Menlo Ventures partner Shawn Carolan joined. In the past, there were Poshmark CEO Manish Chandra, Mayfield’s Navin Chaddha, Planet FWD’s Julia Collins, and Cleo Capital’s Sarah Kunst.
TechCrunch Live is free for anyone who wants to attend a live show, so hang up every Wednesday at 3:00 pm EDT / noon PDT.
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Coinbase, Clubhouse and the inevitable conflict of competition – TechCrunch Source link Coinbase, Clubhouse and the inevitable conflict of competition – TechCrunch