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Hello, and welcome to the start of a new week. As mentioned last Friday, Hey is diving in and leaving the rest of us to pick up the Twitter and FTX pieces. No problem, we are here for you. Mary Ann starts us off by reporting on SoftBank writing a nearly $100 million investment in FTX. And with that, let’s dig! — Christine
The ukbusinessupdates.com Top 3
- This FTX company has a wide reach: Tage reports on what happens to a young company that had some assets in FTX and now can’t access them because of, well, you know. In this case, African web3 startup Nestcoin said it had to fire employees for not having that access.
- A real comparison: Now people in Europe can know the joy and wonder that is the Klarna price comparison tool, that Paul writes, is perhaps a “credible alternative to Google and Amazon.”
- oops: Bird, a micromobility company, told the Securities and Exchange Commission that it included unpaid rides from customers in its earnings, overestimating that specific number for two years. Jaclyn has more.
Startups and VC
At this point, we all expect our data to move pretty fast, but there’s so much that it’s still a headache. This is where Quix comes in, Mike writes. The real-time data startup raised $12.9 million in Series A funding, not to do it with ksqlDB, Java-based solutions, or any of those fancy schmancy SQL-based analytics solutions. Oh no, Quix develops event-driven applications with Python.
And we have five more for you:
- The show must go on: Just because FTX has issues doesn’t mean other companies shy away from the association. Jacquelyn reports on the Joepegs NFT marketplace, which raised $5 million in a round led by FTX and Avalanche.
- “Adult friendships are fickle beasts”: Indeed they are, but have no fear, 222 will help you find that perfect friend who doesn’t care that you earn more than them or who “tends to be lazy”, if that’s what you’re into, Kyle writes.
- Singapore, prepare your exotic taste buds: Vow, an Australian-based cultured meat company, has gobbled up $49.2 million in Series A funding to get its first cell-based meat product into restaurants in Singapore, Christine writes.
- Take action: Electric vehicle startup Faraday Future signed a $350 million financing deal to hopefully get out of its previous financial challenges and launch its first vehicle, Jaclyn reports.
- “The sun is a ball of buttah”: Butter, now flush with $9 million in funding, led by Gradient Ventures, helps smaller food distribution companies comply with food safety regulations, Catherine writes.
Preparing for the second decade of fintech: 4 moves your company needs to make now
According to consultant Grant Easterbrook, fintech startups hoping to succeed in the coming years should be prepared for:
- Large banks and financial services companies with loyalty programs and ‘super apps’.
- Emerging DeFi protocols “that can offer financial products involving real world assets.”
- Banking, invoicing, lending, payments, accounting packaged as ’embedded financial products’.
- Several countries issue their own Central Bank Digital Currency (CBDC).
“Your company needs a very strong value proposition to compete against all four types of competitors,” writes Easterbrook, sharing his ideas for navigating the next decade of fintech in a TC+ guest post.
Two more from the TC+ team:
- See, mom? Layoffs can teach us something: The big tech layoffs weren’t great, but Natasha M writes that while we could see more, entrepreneur Nolan Church, who helped lead Carta’s 2020 layoffs as Chief People Officer, has some perspective on Twitter’s recent layoffs.
- If VCs aren’t investing in you, who are they investing in?: That is what Bekka discusses in her latest piece that looks at all the dry powder in the VC world, and why it’s not deployed yet.
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Big Tech Inc.
And this is how VLC’s download ban was lifted in India, Manic reports. Nine months ago, the country’s Ministry of Electronics and IT banned the popular media playback software, something VLC was trying to reverse. chance of rebuttal.
Natasha L has more on our favorite social media channel, this time writing that “Twitter no longer meets the key obligations required to claim Ireland as its” so-called principal place of business under the European Union’s General Data Protection Regulation. “I can’t wait to see where this goes.
And we have five more for you: