Daily Crunch: Stripe, stripped: Fintech leader slashes internal valuation by 28%
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Oh hey, and welcome to Thursday! It’s been another intense day with a lot of news happening. We’ve picked the cream of the crop for you. Oh! And if you want to be part of Disrupt with your startup, don’t forget to apply to the Startup Battlefield 200!
On July 21, we’ve got an incredible lineup for our TC Robotics event — and something is wrong with the folks up in marketing, because they decided to make the event free of charge. Get your ticket today in case they change their minds… — Christine and Haje
The TechCrunch Top 3
- In the Air tonight: Brian gives us an inside look at the new Apple MacBook Air M2. Let the pluses and minuses commence!
- Losing a couple of stripes: Anita, Natasha M and Mary Ann teamed up to tackle Stripe’s news that it is the latest to cut its internal valuation. For those who are like, “What?” they explain that this means the pricing of preferred shares sold is chosen by a third party versus startups or venture capital investors. Also interesting is that this is uncommon for a company to do.
- Into the looking glass: We enjoyed Dominic-Madori’s deep dive on TechCrunch+ into some predictions of what Black VCs and founders can expect from the investment community in the second half of this year.
Image Credits: Yuichiro Chino / Getty Images
Startups and VC
“We could’ve taken money from crypto funds, but it’s stronger to take it from the game industry and believers,” Raz Friedman, co-founder of UnCaged, told Jacquelyn in an interview regarding the company’s $24 million fundraise. “We are a gaming company first that is utilizing and bringing web3 into games, rather than being a web3-first company.”
“We envision You.com becoming a search platform that is open and allows others to build on top of all of the search technology that we’ve created,” Richard Socher told Kyle for his story about You’s $25 million fundraise. “Data transparency, user customization, summarization, privacy and state-of-the-art search are the foundation of our platform, and we beat Google in the long run by empowering the world to build the next search experience together.”
