Additional Crunch roundup: ‘Problem’ security breach, Poshmark’s IPO, crypto boom, more
by RJ Shara | Dec 18, 2020 | Startups |
The rest of the world might be decreasing as we get ready for Christmas and the new year, however we are not taking our foot off the gas.
Alex Wilhelm keeps a close watch on the public markets in his column The Exchange, however today, he branched off to take a look at a few of the metrics underpinning skyrocketing cryptocurrency rates and turned his gaze on StockX, the customer reseller market that just raised $275 million in a Series E that values the company at around $2.8 billion.
“Offering a tenth of your company for north of a quarter-billion might be somewhat common amongst late-stage software application start-ups with remarkable development,” he says, but “don’t laugh– the round in fact makes pretty OKAY sense.”
Our staff continues to submit their end-of-year stories: We ran a post today by Manish Singh that research studies India’s massive overall addressable market for retail. The nation has more than 60 million mom-and-pop area stores, and business like Walmart and Amazon are eager to offer aid with payments, logistics and stock management– as are numerous native and foreign startups.
In an interview with author and MIT professor Sinan Aral, Managing Editor Danny Crichton went over some of the arguments presently swirling around the desire in some quarters to regulate social media platforms. In “The Buzz Device,” Aral explores topics like neuroscience, economics and misinformation before offering possible solutions for resolving what he calls “a full-blown social media crisis.”
The stories that follow are an overview of Bonus Crunch from the last five days. Complete posts are only offered to members, however you can utilize discount rate code ECFriday to save 20% off a one or two-year subscription. Details here.
Thank you very much for checking out Additional Crunch this week; I hope you have a safe, unwinding weekend!
Walter Thompson
Senior Editor, TechCrunch!.?.!@yourprotagonist!.?.! Unpacking Poshmark’s IPO filing Image Credits: Nigel Sussman(opens in a new window)How did fashion market Poshmark go from publishing routine losses in 2019 to producing net income in 2020? After the business submitted a public S-1 last night, Alex Wilhelm pondered the question this early morning in The Exchange. Like numerous
e-commerce platforms, Poshmark saw a rise in activity during the COVID-19 pandemic, but it also slashed its marketing
invest, which helped enhance earnings. As the cash-rich business prepares its road show, “Poshmark is important ,” Alex concluded.
“How valuable the marketplace will decide. Who will it enrich with its final pricing decision?” Just how bad is that hack that hit United States government companies? WASHINGTON, D.C.– APRIL 22, 2018: A statue of Albert Gallatin, a previous U.S. Secretary of the Treasury, stands in front of The Treasury Building in Washington, D.C. The National Historic Landmark building is the head office of the United States Department of the Treasury.(Photo by Robert Alexander/Getty Images)The breach of FireEye and SolarWinds by hackers dealing with behalf of Russian intelligence is “the problem scenario that has actually stressed cybersecurity professionals for years, “reports Zack Whittaker. The intrusion started a number of months back, but news of the breach wasn’t revealed till this week. “Considered that prospective victims include defense contractors, telecoms, banks, and tech companies, the ramifications for important facilities and national security, although unknown at this point, might be significant, “stated Erin Kenneally, director of cyber risk analytics at Guidewire, a market platform for insurance coverage
carriers. In his analysis for Extra Crunch, Zack breaks down the causal sequence of supply-chain attacks that can
jeopardize platforms like SolarWinds, which is used by more than 420 of the Fortune 500. From start-ups to Starbucks: The embedded API opportunity Image Credits: dowell(opens in a brand-new window )/ Getty Images Embedded financing links services like payment processing with daily activities like grabbing a coffee prior to opening an e-scooter.”The capability to be at the right place at the correct time, supporting merchants and customers alike, where they desire it, how they desire it and when they desire it– can not be downplayed, “says Simon Wu, a financial investment director with Cathay Development. In a post that recognizes ingrained finance’s top providers and enablers, he uses suggestions for startups and established brands that are hoping to”make and build customer commitment while creating new earnings streams
.”Is rising use driving crypto’s current price boom? Image Credits: Nigel Sussman(opens in a brand-new window)Bitcoin is at an all-time high. CoinMarketCap reports that crypto market values have actually reached almost$659 billion; that figure was simply$140 billion in March 2020.”These gains have actually created a substantial quantity of wealth for crypto holders,”Alex Wilhelm composed yesterday. To get a better deal with on why crypto values are sky-bound, he parsed some standard industry metrics, including the number of distinct bitcoin addresses, charges paid and transactions daily. “Do the price gains make sense in the short-term? Who knows,”he wrote,”however they are not based upon nothing.”2020 was a disaster, but the pandemic put security in the spotlight< img aria-describedby="caption-attachment-2087345"loading="lazy"class="breakout size-full wp-image-2087345" src="https://techcrunch.com/wp-content/uploads/2020/12/GettyImages-1210550354.jpg"alt width="1024"height="697"srcset =”https://techcrunch.com/wp-content/uploads/2020/12/GettyImages-1210550354.jpg 3000w, https://techcrunch.com/wp-content/uploads/2020/12/GettyImages-1210550354.jpg?resize=150,102 150w, https://techcrunch.com/wp-content/uploads/2020/12/GettyImages-1210550354.jpg?resize=300,204 300w, https://techcrunch.com/wp-content/uploads/2020/12/GettyImages-1210550354.jpg?resize=768,523 768w,
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Phase Light on Black. Image Credits: Fotograzia/ Getty Images
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