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Happy Friday! We don’t know about you, but we’re both ready for some R&R after plowing through a deep wall of writing from the field/Twitter hearing. Hopefully you’ll get some this weekend too.
TechCrunch’s Top 3
- Under attackMicrosoft has confirmed that it is “aware” of some attacks on its Exchange server. Carly Stay on top of the story and report that “there is no immediate solution.”
- That sweet capital eye: Manish Uniswap Labs, a decentralized exchange, is raising more than $100 million in new funding.
- Stream is on.YouTube TV is offering a new à la carte option that allows subscribers to buy standalone networks without signing up for their full channel lineup. Lauren Reports.
Startups and VCs
When insurance company MetroMil went public through a special purpose acquisition company (SPAC) in February last year, it was valued at more than $1 billion. A year and five months later, Lemon bought the company for less than $145 million. And yet, things are not as bleak as they seem. Anna Reports.
This year, 40% of the world’s population plays games, and the total spending is close to $200 billion. Web3 buyers want a piece of this gargantuan market. Rita Reports. Criticisms of the first generation of crypto games were well documented, she writes, so now the question for developers is what decentralized games should look like.
Let’s do some, shall we? So proceed.
In Q3 2022, 8 Investors Weigh Insurance Status.
Some services are in such demand that their providers may be barred from the market. Consumers don’t cut back on pet food or toilet paper during a recession. Likewise, everyone needs some form of insurance.
In the year Between 2016 and 2022, insurance startups received about $43 billion in funding, and despite the downturn, most investors reported Anna Haim Recent studies are still positive about the sector’s prospects.
- Marta Notaras, General Partner, Beer Lane Ventures
- David Wechsler, Principal, OMERS Ventures
- Stephen Brittain and Rob Lumley, Directors and Co-Founders, Insurtech Gateway
- Florian Graillot, Founding Partner, Astorya.vc
- Clarisse Lam, Associate, NewAlpha Asset Management
- Hélène Falchier, Partner, Portge Ventures
- Adam Blumencranz, Partner, Distributed Ventures
“We’re simply seeing a reality check,” Wechler said. “Unfortunately, there are many companies that should not have raised as much as they did, or perhaps did not have sustainable business models. These companies will struggle to survive.
Three more from the TC+ team:
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Big Tech Inc.
SoftBank has been making some adjustments to the company’s valuations lately, but the latest adjustment is being seen by the company itself. Kate SoftBank’s Vision Fund is reportedly cutting 30% of its workforce despite considering a third fund.
Here are five more for you: