$800 million funding cuts Klarna’s valuation by 85% – TechCrunch


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TechCrunch’s top 3

  • Klarna, Klarna, Klarna, Klarna, Klarna Chameleon: Sorry, we had to bring that header back — it’s just too good and makes us happy. This time we confirm the rumors were true: European Klarna bagged a big chunk of real estate venture capital – $800m – but did so at a lower valuation, so 85% less to land at $6.7 billion, Paul writing.
  • Everybody wants you: And by “you” we mean Gen Z. They’re not really old enough to remember the sheer horror of watching stocks and investments plummet during the economic downturn of 2007-2010, but the environment of 2022 gives them a taste of it. Do not worry, Christina writes about Uprise, a new app in private beta that’s building an investment tool with Gen Z in mind so they can know when to take that 401(k) match or how much is too much to have in a current account.
  • Somehow we manage: However, managing a fleet of migrant workers can be an administrative headache. In another story of Paulhe writes that Kadmos is set to provide a cure for this headache in the form of a wage payment platform specifically for migrant workers so that, among other things, they can avoid paying some of the fees exorbitant fees to transfer money to their respective homes.

Startups and VCs

Unacademy, one of India’s top-flight startups, is going through a series of cost-cutting measures, including cutting founders’ salaries and closing ‘some businesses’ as it tightens its belt and promises a IPO within the next 2 years, pot holder reports.

About layoffs Natasha M took a closer look at the data on who has been hit hardest by the big wave of tech layoffs. Spoiler alert: fintech is leading the charge. There’s also a bunch of other really interesting news from the past week, in Natasha’s Startups Weekly newsletter. You can subscribe to this, and a bunch of our other awesome newsletters, on this convenient one-stop subscription page.

It’s been a busy weekend on TechCrunch. Here is the creme de la creme!

  • Once, twice, three times a decimation: Amid events returning in-person and interest in virtual events waning, Hopin – once the world’s fastest-growing startups – has just laid off a third of its workforce, just months after its latest round of layoffs, Natasha M reports.
  • Hey, Google, send money to my best friend: There have been surprisingly few voice-activated payment solutions, but Kyle dug deep into PayTalk and its promise to handle all kinds of payments with voice. It’s a great read from a promising company that got off to a shaky start.
  • We raised, maybe? Byju announced $800 million in funding in March, but pot holder reports that the startup is $250 million short of reaching that goal. “The delays are due to macroeconomic reasons,” a spokesperson told TechCrunch.
  • Like SmileDirect, but in Spanish: Impress Raises $125M Series B Funding Round to Bring Digital Orthodontics to European Markets, Mike reports.
  • The tiger is a bit caged: Tiger Global had a hell of a run, but pot holder reports that it will hold back for a few quarters and plans to raise new fund later this year.
  • A penny for your thoughts: It’s hard not to be a penny-pincher these days with the economy as it is, so Google’s Gradient Venture is backing Penny with $4.8m so workers in the UK don’t don’t have to spend a penny to merge or manage their pensions, Paul reports.
  • It’s like a soap opera: Elon Musk had a week and a half, like Greg summarized so elegantly in his Week in Review newsletter.

“Fun” fact we came across when we Googled information for this newsletter: Wikipedia tells me that “decimate” actually means “reduce by 10%” and comes from the Roman army, where, as punishment, every tenth man in a group was executed by members of his cohort. That means two things: getting kicked out of a startup sucks, but at least you don’t get murdered. Also, Hopin, who started this rabbit hole, was not just decimated, but decimated three times. Yowzers.

Transform your startup’s pricing strategy into a powerful growth lever

Picture credits: happyphoton (Opens in a new window) /Getty Pictures

Early-stage startups need to regularly review their pricing models: the competitive landscape is constantly changing, and each time they launch a new product or service, their revenue streams need to be recalibrated.

In his latest TC+ article, Michael Perez, chief growth and data officer at venture capital firm M13, shares five questions he uses to design pricing strategy frameworks, along with three value metrics and a detailed measurement plan for the GTM strategy.

“Pricing models that scale with value tend to capture more value as revenue and contribution margin,” he writes. “The contribution margin can then be reinvested in sales and marketing or operations to create more value.”

(TechCrunch+ is our membership program, which helps founders and startup teams grow. You can register here.)

Big Tech inc.

First, we have to thank the team who learned Friday night that Elon Musk had decided not to buy Twitter. taylor learned the news quickly, while Darrell covered Twitter’s initial reaction and Kirsten “delivered” (pun intended) one of the best headlines in his Tesla stock article.

Meta is tackling “fake news” in a new way with Sphere, an open web content-based artificial intelligence tool, and Wikipedia is its first user, Ingrid writing.

Meanwhile, London has lost its grip on Australian company Atlassian, which has said it will move its headquarters to Delaware, Mike reports. Please, please announce yourself to the neighbor with this gif.

Sometimes robotics don’t always work, and unfortunately that’s the case with salad robot start-up Chowbotics, which was acquired 17 months ago by DoorDash and is in the process of closing its doors. brian writing.

Here’s what else we have for you today:


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