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The wait was long but the time was right this week: Airbnb finally introduced S-1 and so did Affirm, C3.ai, Roblox, and Wish. We will likely see these five prices in the public markets before the end of the already super-high year for tech IPOs. The pandemic and the ongoing political turmoil weren’t terrifying enough, it seemed.
In the next decade, you have to believe that we will see more tech companies going IPO. Many of the aforementioned companies have been piled for years behind privately funded growth strategies. Today, however, the industry has a better understanding of SPACs, direct listings, and various funding methods. Companies have more options since their founding for how they will grow and exit one day. General investors in 2020 seem to have a deeper appreciation of current revenue numbers and future growth opportunities for tech companies. Why, I still remember all the geniuses who bragged about their Facebook IPO brief not long ago.
Will we see a bigger spread from where the IPO comes from? While all of this week’s service providers are headquartered in San Francisco or its suburbs, that now looks like a coincidental reference to the years these companies were founded. More states have minted their unicorns, with Ohio-based Root Insurance recently becoming a public company and Utah-based Qualtrics going (backward) this way. Tech startups are now global, and at the same time, many countries are working to keep unicorns closer to their home than New York.
To TechCrunch Headlines & Extra Crunch:
What does the Biden administration mean for technology?
What does Joe Biden intend as president on technology policy? On the other hand, tech companies may not return to the White House very quickly. “Finally, we see some household names in the mix, but 2020 isn’t 2008,” Taylor Hatmaker explains About potential presidential appointments from industry. “The tech companies that have emerged as golden sons over the past 10 years are now radioactive. Regulations loom in every direction. Whatever policy priorities emerge from the Biden administration, Obama’s technocratic era is over and we are on our way to something new.”
However, tech industries and companies that focus on common goals may find support. in a Biden Policy Review on Climate ChangeJohn Chipper takes a look at major green infrastructure plans that may be on the way.
Any policies enacted by the Biden administration must focus on economic opportunity broadly, and much of the campaign’s proposed plan satisfies that need. One of his main proposals was that it would be to “create good middle-class jobs in societies left behind, correct mistakes in societies that bear the brunt of pollution, and raise the best ideas from all over our great nation – rural, urban and tribal,” according to the relocation site. An early focus on network and utility infrastructure could create significant job creation opportunities across America – and act as a boost for technology companies. “Our electric power infrastructure is outdated, outdated and insecure,” said Abby Yokel, co-founder of energy and climate focused company Congruent Ventures. “From an infrastructure standpoint, transmission distribution needs to be really upgraded and its investment has been reduced over the years. It is directly in line with providing renewable energy deployment throughout the United States and electrifying everything.”
The future of building technology
The shortage of skilled workers is building up the traditional challenges for the construction industry this year. The result is technology adoption is getting a big boost in the real world, Alison Shaw of Bain Capital Ventures wrote in a guest column for Extra Crunch this week. She plots six major Construction classes where tech startups Are emerging, including project conception, engineering design, pre-construction, construction implementation, post-construction and construction management. Here is an excerpt from the article about this last item:
- How it works today: The construction and operations management teams manage the overall project, with functions such as document management, data and insights, accounting, finance, human resources / payroll etc.
- Main Challenges: The complexity of the job site translates into the highly complex and cumbersome paperwork associated with every project. Managing the process requires communication and alignment between multiple stakeholders.
- How technology can meet the challenges: The nuances of the multi-stakeholder building process deserve value in a vertical approach to project management. Construction management tools like Prokor, Hyphenation solutions And the Ingenious It created ways for contractors to more seamlessly coordinate and track the process from start to finish. Other players like Level set She took a building-specific approach to jobs like managing invoices and payments.
Virtual headquarters after the epidemic?
In an era of pandemic work solutions, such as online team meeting venues, are moving towards a less certain reality based on vaccines. Did we all go remote – first enough to have a real market, though? Natasha Mascarenhas is checking in With some of the best companies to see what it looks like, here’s more:
With the goal of making remote work more automatic, there are dozens of new startups that are creating virtual headquarters for distributed teams. The three who ascended to the top are tree branchBuilt by Gen Z gamers; plural, It was created by the engineers who built a granular zoom and Correspondence, Which is still in secret.
The platforms are all racing to prove the world is ready to be part of virtual workspaces. Building on the multiplayer gaming culture, startups are using spatial technology, animation, and productivity tools to create a custom metaverse for work.
The biggest challenge in the future? Startups need to convince venture capitalists and users alike that they are more than just Sims for Enterprise or an always-on Zoom call. Potential success may indicate how the future of work blends gaming and the socialization of distributed teams.
all the week
This week ended up being incredibly busy. What else, with a week that featured both Airbnb and Affirm IPO deposits, a slew of mega rides for the new unicorn, some cool microfinance events and some new funds?
- Affirm has come out in the open! Rhino Fintech is big, growing, and losing less money over time. We were very touched At first look. Then, with more time, we are Dig deeper And I found a weakness or two. Still, Affirm is trending in audience and it’s not in bad shape.
- Airbnb came forward, so we jumped in Stock shot As fast as you can on Tuesday to get our minds spinning the news. Since then, Danny has drilled Through the venture capital winners circuit – A surprisingly small subset of companies! – and we too I got into some of the questions I had about the company’s finances.
- Robinhood is said to have an IPO, so we talked a little bit about it What we know about its growth in the third quarter.
- Then educational technology emerged, as always. We talked about this week Tencent Udemy support, Duolingo raised again And the Transfer Capture the A-series that we thought was very fun.
- Danny wanted to talk about it Chain of Trust and Will a. We tried not to make too many jokes.
- ZenBusiness raised $ 55 million, too, In the series B.
- Project Financial Studio Create a new fund To cut small checks to emerging fintech companies in the seed stage. We think that’s cool. Especially given what we know about what’s going on in the fintech world.
- And Natasha We walked through its latest in depth coverageA look at the world of virtual headquarters. This led to the show’s worst joke.
What a week! Three episodes, some new records, and we got tired a lot after all the action. More on Monday!