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Welcome to the weekend! we have Very land to cover today, so pour me a coffee, sit down and ride with me.
Remember when Amplitude went straight to the list, started trading, and then ran into a wall when it reported Q4 2021 earnings? It wasn’t the only public tech company to undergo a haircut in early 2022, but the scope of the price revision stood out. Now Instacart is going through a similar phase, but in private markets.
Should we expect more private companies to value their stock as well, to give new hires and existing employees a better incentive to stay? Maybe. Jeff Richards of GGV did food idea for fridayI
Yes. There is no escape from the market. You can delay reality by raising venture capital and not see price repricing until you raise it again. Definitely. But if you’re a late unicorn with enough money, how do you calculate your market value if you’re not raising new money?
If Instacart is the start of a trend, then again, flat pricing for startups can make a difference.
Technory finds a new home
A little about me is the fact that I went to school in Chicago, so I was in and around the technological landscape of the city as a child journalist. This meant attending social events to better understand what was going on. I got Justin Howard Back when Sprout Social was a startup (it’s now public) and I had to go to an Uber launch dinner in the city when all the cars were black. (It was there that I met my first reporter, gaming-updates, who later helped me get a job at the first edition.)
At that time, a community event called Technorie was started, which organized events showcasing local technical advances. It was fun.
Since then, technorie has evolved into a media game with podcasts and pitch events helping startups raise capital through crowdfunding. I returned to the company when CEO Scott Keetan invited me to a podcast. And now Technori is back in our lens as it is being sold to Kingscrowd, a service that tracks and evaluates startups that come together on online platforms. Considering that Technory has evolved into a platform for helping people develop, the partnership seems appropriate.
The deal was fully completed, Kitun said. Kingscrowd also has a media strategy so there is a bit more overlap between the two companies.
Kitun told The Exchange in an interview with The Exchange that he is excited about the Technory-Kings crowdfunding deal as startups looking to crowdfund will make crowdfunding more data-driven depending on its inclination. We’ll have to wait and see if the pair can pump more total capital into the startup market over time through the fundraising mechanism, and how much of that ends up in Chicago.
Expanding our field of vision a bit, consider that Publix, which recently acquired Otis, is looking to diversify investments on its platform. We can to some extent combine the Technori and Kingscrowd deals under one roof, both of which want to put new investment in the hands of the common man.
This probably won’t be the last time we hear from Kitoon, as he is the co-founder of the standalone company Songfinch.
Changes in the specialized program
This week, I switched roles at gaming-updates and traded my full-time correspondent position for becoming Editor-in-Chief at gaming-updates+. Longtime readers of the exchange posts and newsletters on the site know that much of my work in recent years has been on paysites. I won’t stop writing completely, but we’re aggressively expanding the gaming-updates+ team. So if you’re not already a member, get ready. (For those who live in the US, use discount code EICEXCHANGE for a 25% discount at checkout.) It’s going to be a good year.
We are making a number of changes, including phasing out a special program that has been going on for several years. Trying to build a database of service startups by activity—SEO, for example—was part of our shared drive to help build founders. But from now on, we’re going to ramp up the efforts on the parts that are more focused on getting information from the various operators in the market rather than just putting together a list of potential suppliers.
This means we’re leaving some fruit in the bud, so one last note from the experts about one competitor. Growth Curve is the latest company to join the old format. Within this old structure, people wrote to support the band. Mariam Daniilova of Anna Money says she is reliable, results oriented, [and] data-driven” is everything you can expect from a growth marketing team.
One thing I learned from clearing the gaming-updates+ deck of previous attempts and thus spending time reading old interview files and so on was that SEO is still important. This came up in notes I analyzed by Growthcurve founder Mulenga Egli, and I’m wondering if this will become even more important in the new iOS 14 world we live in? If so, then I think a mockery of Google.
In any case, the exchange Anna Khem We will continue to review some practical advice with external operations experts. This year it looks a little different. Thank you to everyone who has participated in the past and thank you to Growthwork for being the main partner of Ledger.