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It’s Wednesday, May 11, also known as the start of Google Palooza, which the company insists on referring to as the much less entertaining “Google I/O 2022.” Our “GoogleCrunch team” has prepared a slew of stories about Google’s lineup of hardware and software, including the Pixel Watch, the Pixel 6A, a sneak peek at the Pixel 7, and a new tablet. All the details are below in the Big Tech section. – cristina Y Haje
TechCrunch Top 3
- ‘Stable’ currency: jacquelyn has all the details on the dramatic decline of Terra USD, a “stablecoin” known as UST, and its founder’s plans to prevent a UST crash. Jacquie then collected crypto market participants’ thoughts on what the collapse of UST means for the broader crypto market and other stablecoins.
- The hits keep coming for cryptocurrencies: It’s a joke; Coinbase’s Q1 results not only pushed its stock prices lower, but also informed us that the number of users transacting monthly is expected to continue to fall. What does this mean for cryptocurrencies? Well, I may have to weather the storm for a while. To make matters worse, Coinbase revealed that it had to stop trading in India after some pressure from the Reserve Bank of India.
- Airbnb plans for a summer of hot houses: What Jordan reports in a couple of very nice stories today, including a Q&A with Brian Chesky, who believes “a new era of travel is about to dawn” – the company is getting its beach body ready for summer with some new features , a search by category , being able to book two accommodations in a single flow for stays longer than a week, and AirCover travel insurance for guests.
Startups and VCs
Few things surprise us more than the sheer scale of Tiger Global: The company took a beating with $17 billion in losses. Conny reports that he has burned through most of his most recent venture capital fund. Oh!
As tech reporters, we love the rapid rise and watch with occasional glee at the unscheduled decline of the startups we cover. Natasha Y Alex remind us on today’s episode of the Equity podcast that while the founders couldn’t have seen a pandemic coming, they should have been better prepared for the world’s return to whatever “normal” means. Or, as they say: layoffs happen to people, not companies.
Sure, come on, I’ll have another:
- To work remotely or not to work remotely? Deel is rumored to have just raised a $12 billion valuation fueled by the remote work revolution.
- Well I will say: You know change is afoot when harry reports that climate change company Carbon Clean may raise a $150 million round, led by famous climate change activists
- Property and unicorns: Real estate tech startup Habi says it has become the second unicorn in Colombia and the only Latin American unicorn with a female founder and CEO. Mary Anne reports.
- you have to be tripping: While startups like Lemonade have sprung up to attack the tired world of insurance, the travel insurance market is getting the same treatment from Safetywing and Battleface, and now, Miguel reports that Faye is entering the fray.
- The three R’s of education: Reading, Rhythm and Rhythm: Educapital raised a $160 million fund to focus on edtech and the future of work, Roman reports.
- I want to lift my bike, I want to lift my bike: Berlin-based GetHenry, which provides last-mile delivery electric bikes to courier and logistics companies, has raised a $17.4 million seed round to expand its business across Europe. Rebeca reports.
- A little less charge and a little more spark: Traditional commercial trucks are terrible for the environment. Xos, an electric vehicle company that specializes in commercial trucks, unveiled two new vehicles tonight, harry reports.
Finding Your Startup Valuation: 5 Factors to Consider
In her latest TC+ column, angel investor Marjorie Radlo-Zandi addresses a question that’s on every founder’s mind these days: What’s my current valuation?
For early-stage startups, finding that figure requires more art than science, as companies with no revenue are still collecting data and fine-tuning their products.
“Many traditional valuation methods, such as discounted cash flow, are not as useful for valuing early-stage startups,” he writes. “This means that investors have to assess other factors that are not as easily measured.”
(TechCrunch+ is our membership program, helping startup founders and teams get ahead. You can sign up here.)
great tech inc
- Everything related to Google I/O: Excuse us while we do OH to catch that I/O. Sorry Michigan fans, it had to be done. To Google, where it’s all about hardware, software, and wallets, wow! News so far includes language additions to Translate, a multi-search feature that makes us think AR glasses may be Google’s future, a virtual credit card, and some customization features regarding ads.
- Everything related to electric vehicles: Today we pull the plug on a few things in hopes of giving you a jolt of electric vehicle news. jaclyn presents some predictions for Rivian’s first quarter earnings. A lot of things are hitting this company right now, but analysts expect to hear some news about the supply chain, the relationship with Ford and its Georgia plant. In the case of Canoo, it already warns that it may not have enough funds to bring its electric vehicles to market. In addition, the company sued one of its largest shareholders related to the sale of shares. Driving to Tesla, Jaclyn points out some comments Elon Musk made about the automaker’s lawsuit (he may stop taking catch-up orders) and other things that delight him.
- iPod, how we will miss you: The day started with RonSort of an obituary for Apple’s iPod, which became fodder for where some of us kept these reminders of how we consumed music in the early 2000s, and how the Apple Store would sell you one without telling you they were launching a brand. -spanking-new version the next day. Oh memories.
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