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Hi friends, I hope you are healthy, warm, healthy, happy and good. If not, some of them. If you aren’t there, there’s a reason we invented ice cream.
The good news is that we have some delicious nuggets this Saturday. I’m talking about Metaverse, venture capital from its origins, and a funding round for a very cool startup that happened to be blank this week, so I’ll talk about it here. Ready? Enjoy it.
What I enjoyed most this week Visit to Decentraland.. In short, I was editing and trying to get out of the way while the editorial team was working, so I launched the social crypto environment, the Metaverse, and went on a tour. Shaking the mohawk and pretty cool pants, I got lost and couldn’t access the NFT gallery and the arena.
You see, the Metaverse that exists today is very similar to Runescape. Given the historical footprint that online RPGs have built for themselves, that’s not a big deal. But what I don’t really need is a less functional MMORPG, which, strangely, includes a more economical angle. Than I tend to like in my games..
I’m currently neutral and accepting the Metaverse, which is cool enough to log in every day. But today, some Web 2.0 properties, including community creation and social interaction, seem to be better than what the crypto team has ever seen.
Amplify’s latest general partner
About 1,000 years ago, a startup named Mattermark hired me to build a separate news room for their company. Frankly, it was a great learning experience and had the additional edge of introducing me to a lifelong friend. Kevin Liu from TechStars, for example.
Sarah Catanzaro It was another standout from the Mattermark team. Her work on the company’s data team was later transformed into a venture job. Canvas Ventures, from Amplify your partner..For reference, amplify at the end Announced fund in late 2020 Worth $ 275 million. Given that time frame, I expect the group to announce new capital vehicles in short order.
At Amplify, Katanzaro has become a principal, a partner, and more recently a general partner. Her journey from the bottom to the top of the venture capital world was fun to watch. And she told TechCrunch on the phone last week that she was the first woman to reach her level with Amplify. Recall that promotion of venture capital still in the cottage industry is different from startup-level pace-up.
Anyway, Katanzaro told me what I want to write down here. This is so that it can be undone later. We talked about her company’s investment approach, check size goals, and how often she enters the company at the seed and Series A maturity level.According to the newly created GP, the series A round is much larger Without it The risk reduction is commensurate with that. This is something I had foreseen for some time, but I had never heard anyone yell.
This means that from a venture perspective, the risk of Series A increases as more capital is invested during the startup phase. If enough mega exits are created in the next few years, math may eventually work. But, well, I’m a little wondering, as the market has fallen free and concerns have won more column inches than Unbridled Enthusiasm.
Rhode Island pride
Since I live in Ocean State, I’m a bit far from the most famous technology hub in the United States. But that doesn’t mean that attractive tech companies are being built here in my little state. TechCrunch Spilled ink, To choose an example Pangea, A startup founded in Providence, is building a freelance labor market for college students.
Another startup for Lil Rhody is Wonder Last Group, Built Dockwa, a software platform for marina and boaters. In short, the world of managing boat slip reservations floated in the world of pens and paper, and Wonderlast decided to modernize it through software.
Finally touched the company Raised $ 14.2 million in 2020.. At that time, CEO Mike Melilo He told TechCrunch that his company was only aiming for $ 7 million. This is double the number.
So I wasn’t surprised to hear that I recently procured it from the company again. This time, Wanderlust has raised $ 30 million in Series C with a $ 150 million pre-valuation.Fundraising event Thursday venture..
Fortunately for you and me, Wanderlust was happy to share the growth of ARR in 2021. This was 71%. Even more fun, after moving to four-day work week, the company saw ARR grow 100% from June 2020 to June 2021. One of the more interesting labor experiments I’m tracking on startup lands is the actual data points.
But what’s most interesting to the company is building a fund. It’s not another corporate venture capital fund, it’s something else. The company, called Wanderfund, is funding $ 300,000 this year for vehicles to describe it as an “environmental problem at the national and local levels.” It starts with putting money in a local Boys & Girls club to help kids get out of the house and enter nature.
The company is building products like the Dockwa for camping, so the theme of “going out” is pretty much the heart of what’s properly named. Wonder Last The group is under construction.
Miserania and various
- The Acorn SPAC trading is off, Which caught our eye. It’s not a big shock considering how poor some SPACs have made their post-merger performance, but we honestly looked forward to Acorns as a publicly traded company.
- Acorn S-1 please.
- And that Robin Hood Experiment Opening financial markets to the general public through IPO access has a positive side to corporate democracy. Sharp edges worth remembering..
Well, that’s enough for now. Let’s talk next week!
Get in, nerds, we’re going to the metaverse – TechCrunch Source link Get in, nerds, we’re going to the metaverse – TechCrunch
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