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Happy Friday! We don’t know about you, but we’re both ready to take some time off and relax after wall of thoughtful texts from the Musk/Twitter trial. We hope you get something this weekend too.
TechCrunch Top 3
- under attack: Microsoft has confirmed that it “knows” about some attacks on its Exchange server. Carly stays informed and reports that “there is no immediate solution”.
- Looking at this sweet capital: Manish reports that decentralized exchange Uniswap Labs is seeking more than $100 million in new funding.
- Flow on: YouTube TV is offering a new à la carte option that allows subscribers to purchase offline networks without subscribing to the full lineup of channels in the basic plan. Lauren reports.
Startups and VK
When Metromile insurance went public through a Special Purpose Acquisition Company (SPAC) last February, it was valued at more than $1 billion. A year and five months later, Lemonade acquired the company for less than $145 million. And still it’s not so dark as they may seem Anna reports.
This year, 40% of the world’s population will play games, and total spending is approaching $200 billion. web3 vendors want a slice this gigantic market, Rita reports. She writes that the criticism of the first generation of crypto games is well documented, so now the developers are faced with the question of what decentralized games should look like.
Let’s do some more, shall we? Then let:
8 investors assess the state of insurtech in the third quarter of 2022
Some services are in such demand that it may insulate their providers from the vagaries of the market. During an economic downturn, consumers don’t cut back on pet food or toilet paper. Similarly, everyone needs some form of insurance.
Insurtech startups received about $43 billion in funding between 2016 and 2022, and despite the downturn, most investors surveyed Anna Heim Recent respondents remain positive about the sector’s outlook:
- Martha Notaras, General Partner of Brewer Lane Ventures
- David Wexler, Director of OMERS Ventures
- Stephen Britten and Rob Lumley, directors and co-founders of Insurtech Gateway
- Florian Graio, founding partner of Astorya.vc
- Clarisse Lam, Associate, NewAlpha Asset Management
- Helene Falchier, Portage Ventures Partner
- Adam Blumenkrantz, Partner, Distributed Ventures
“We’re just watching the reality check happen,” Wexler said. “Unfortunately, there are many companies that shouldn’t have raised as much money as they did, or perhaps don’t have sustainable business models. These companies will struggle to survive.”
Three more from the TC+ team:
Big Tech Inc.
SoftBank has been making some adjustments to company valuations lately, but the latest adjustment is with its own company. Katia reports that SoftBank Vision Fund reportedly laying off 30% of its workforce even if he considers the third fund.
Here are five more for you: