& meet dozens of singles today!
User blogs
This probably falls under “good problems,” in the grand scheme of things. After another record quarter, Peloton has announced that it will invest more than $100 million in air and ocean freight deliveries due to “longer-than-acceptable wait times for the delivery of our products.”
The fitness company is among those tech firms that have seen a tremendous rise in interest amid the pandemic. In fact, it seems these days that VCs can’t pump money into at-home fitness solutions quickly enough to appease their interest. 2020 was a banner year for home workout solutions, from LuluLemon’s $500 million acquisition of Mirror to new platforms from Apple and Samsung.
In all, Peloton pulled in $1.06 billion in revenue last quarter, marking a more than 200% increase, year over year. The numbers beat Wall Street expectations and are showing no sign of slowing, with another massive quarter expected for the connected fitness brand.
The market did balk slightly at Peloton’s admission that, “While this investment will dampen our near-term profitability, improving our member experience is our first priority.” Clearly this big spend on reducing supply bottlenecks is a longer-term play.
Of course, it remains to be seen how the company’s earnings will stabilize after the pandemic. I’d anticipate there will be some slowing for Peloton and other brands when vaccines make returning to gyms a more widescale phenomenon. Still, home workouts — like remote work — may well be an aspect that is fundamentally transformed even with COVID-19 in the rearview.
NASA has awarded Firefly Aerospace a $93.3 million contract to take a lunar lander module loaded with experiments to the surface of the moon. While the company will not be performing the launch itself, it will be providing the spacecraft and “Blue Ghost” lander for the 2023 mission.
The space agency made the award as part of its ongoing Commercial Lunar Payload Services, under which several other non-prime space companies have been selected for similar work: Blue Origin, Astrobotic, Masten and so on.
This particular contract was first publicized to its CLPS partners back in September, which would have submitted bids for the project; Firefly clearly carried the day.
“We’re excited another CLPS provider has won its first task order award,” said NASA associate administrator for science Thomas Zurbuchen in a release announcing the contract. The last few years have seen many such firsts as NASA has increasingly embraced the commercial sector in providing everything from launch services to satellite and spacecraft manufacturing.
It’s not exactly Firefly’s first order from NASA, though: Its national security subsidiary Firefly Black (ominous) will be launching two cubesats for the Venture Class Launch Service Demo-2 mission. But this is larger and more complex by a huge margin (not to mention more expensive).
This will be the maiden lunar voyage for Firefly’s Blue Ghost lander, which it’s been working on for the last few years in anticipation of renewed interest in the moon. It will hold the 10 scientific payloads, which NASA describes here, including a new laser reflector array and an experimental radiation-tolerant computer. There’s a lot to be loaded up, but Blue Ghost should have 50kg of space left over for anyone else who wants a ride to the moon.
Everything is going to Mare Crisium, a basin on the “light” or near side of the moon, where hopefully they will contribute valuable observations and experiments to inform future visits to and habitation on the moon.
Firefly will also be providing the spacecraft that will take the lander into lunar space, and will be responsible for getting it off the Earth in the first place — the company told me they’re evaluating options for that. By the time 2023 rolls around there should be plenty of rides to choose from, and indeed Firefly’s own Alpha launch vehicle may be flying by then, though it’s not ready to commit to a lunar insertion orbit mission today. The company plans to have its first Alpha flight in March.
TechCrunch tuned into 500 Startups‘ 27th demo day today, keen to get our eyes on the accelerator’s latest companies.
Demo days are regular affairs, but they always feature a crop of startups that could build the next tech giant, so we pay attention. Especially in the COVID-19 era, when demo days have gone virtual. Now it’s easier than ever for investors, and journalists, to tune in.
TechCrunch has covered Y Combinator’s virtual demo days, as well as regular batches from the various Techstars accelerators around the world.
But, today we’re talking favorites from 500 Startups’ latest cohort. Jonathan Shieber will take the baton first, followed by Alex Wilhelm.
Demo day standouts
- What: A new way to browse online.
- Why we like it: The browser and tab model hasn’t changed much since the days of Netscape and organizing online information is increasingly a complicated mess of a hundred tabs (at least on my browser). Stack is pitching a new way to organize information that’s more interactive, more organized and easier to visualize.
- What: Low-code A/B testing of monetization mechanics and subscriber services for apps.
- Why we like it: Helping to give app developers tools to better understand where, how and why monetization breaks down and offer tools to fix it makes Adapty a standout among this YC cohort. The app economy is still a multibillion dollar business and getting customers to stick around remains a huge problem. Anything that can help is a boon for company builders.
Microsoft tries to improve corporate intranet, Google will offer new smartphone health measurements and 23andMe is going public via SPAC. This is your Daily Crunch for February 4, 2021.
The big story: Microsoft rethinks corporate intranet
Microsoft launched what it’s calling a new “employee experience platform,” designed to reinvent those corporate intranet sites that large companies use to share content with their employees.
What makes this new platform, called Viva, any different? Well, it integrates with Microsoft’s other collaboration tools like SharePoint and Yammer, along with LinkedIn Learning and other training services, and it also includes team analytics.
In a pre-recorded video, CEO Satya Nadella said Microsoft is launching this because, “We have participated in the largest at-scale remote work experiment the world has seen and it has had a dramatic impact on the employee experience. As the world recovers, there is no going back. Flexibility in when, where and how we work will be key.”
The tech giants
Venmo to gain crypto, budgeting, savings and Honey integrations this year — The Venmo mobile payments app is going to look very different in 2021 as it inches closer to neobank territory.
Google to offer heart and respiratory rate measurements using just your smartphone’s camera — Google is introducing features that will allow users to take vital health measurements using just the camera they already have on their smartphone.
HubSpot acquires media startup The Hustle — HubSpot says content is an increasingly important part of its business, with customers finding its products through things like YouTube videos and HubSpot Academy.
Startups, funding and venture capital
23andMe set to go public via a Virgin Group SPAC merger — The transaction is expected to result in 23andMe having around $984 million in cash available at close.
Accel backs Mexican startup Flink’s effort to bring consumer investing to Latin America — Since launching its first brokerage product in July of 2020, Flink has surpassed 1 million users and 800,000 active brokerage accounts.
Tovala, the smart oven and meal kit service, heats up with $30M more in funding — This is the second round of funding for the startup in the space of six months.
Advice and analysis from Extra Crunch
Four strategies for deep tech founders who are fundraising — Step one: Use storytelling to highlight your big vision.
Why one Databricks investor thinks the company may be undervalued — The recent Databricks funding round, a $1 billion investment at a $28 billion valuation, was one of the year’s most notable private investments so far.
Extra Crunch is now hiring for reporter, editor and project manager positions — Extra Crunch is about to turn two years old and we now have a lot of demanding subscribers. (We love them, of course.)
(Extra Crunch is our membership program, which helps founders and startup teams get ahead. You can sign up here.)
Everything else
A growing number of startups are creating APIs to assess and offset corporate carbon emissions — It was only a matter of time before application programming interfaces came for the carbon credit offsets.
The cloud infrastructure market hit $129B in 2020 — That’s up from around $97 billion in 2019, according to data from Synergy Research Group.
China’s national blockchain network embraces global developers — Last year, an ambitious, government-backed blockchain infrastructure network launched in China.
The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 3pm Pacific, you can subscribe here.
Source: https://techcrunch.com/2021/02/04/daily-crunch-microsoft-rethinks-corporate-intranet/
Hello and welcome back to Equity, TechCrunch’s venture-capital-focused podcast, where we unpack the numbers behind the headlines.
Natasha and Danny and Alex and Grace were all here to chat through the week’s biggest tech happenings. The good news is that we managed to fit it all into a single episode this week. The bad news is that that means the show is pretty long. Sorry about that!
So, what took us so much time to get through? All of this:
- Robinhood raised $3.4 billion after its trading hiccups, and we also chatted over what we know about the company’s Q4 2020 numbers. In short, the company is growing nicely.
- RPA is big and UiPath is cashing in on the trend, raising $750 million at a $35 billion valuation. That’s a lot of cash for very little dilution.
- Databricks raised $1 billion at a $28 billion valuation, after reaching $425 million in ARR. The company’s growth is hot, but its valuation may be even hotter.
- Bumble is going public, so we chatted about its results, and how founder- and venture-friendly the dating market may be in the future.
- In a big exit for the Boston startup ecosystem, alcohol delivery platform Drizly has sold to Uber for $1.1 billion.
- Sticking to the alcohol beat, Danny talked us through the Vivino news, describing himself as a wine sophisticate with a distaste for sommeliers, which is just about the most Danny thing he has ever said. But the company really is neat.
- Divvy homes raised a $110 million Series C to make it easier to buy a home, after financing five times as many homes in 2020 as it did in pre-pandemic times.
- And then there were some neat early-stage rounds to chat about: Balance raising $5.5 million to bring B2B payments to the modern world, Alloy Automation raising $4 million for ecommerce automation, and Beam raising $9.5 million to build a new browser.
- Make sure to read Natasha’s profile of the new Expectul CEO here.
- And, we closed on some Miami news.
And somehow we still have another entire day before the weeks is up! So much for 2021 calming down after 2020’s storms.
Equity drops every Monday at 7:00 a.m. PST and Thursday afternoon as fast as we can get it out, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts
