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Daily Crunch: Toptal sues rival Andela for allegedly making ‘a perfect clone’ of its freelancer marketplace – TechCrunch

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Hello and welcome to Daily Crunch for June 11, 2021. As a small notice I’m off subsequent week, so my pricey good friend and TechCrunch lifer Henry Pickavet can be taking up. He’s extra enjoyable and a greater author than I’m, so contemplate him a brief improve. See you in per week or so! — Alex

p.s. Cheap tickets to TC Early Stage 2021: Marketing & Fundraising are almost gone. Flagging in case you wanted a ticket and in addition like saving cash. 

The TechCrunch Top 3

  • Technology corporations try to determine post-pandemic work: Minor tech CEOs look to main tech corporations for alerts about what to do. Google, for instance, is a well-known cultural bellwether for different tech companies. But relating to post-pandemic work each tech firm — large and small — is scrambling to provide you with a plan that may hold control-oriented managers glad and employees from quitting en masse. TechCrunch has the rundown you want on what the majors are deciding.
  • Didi’s going public! If you thought that the Uber and Lyft IPOs had been enjoyable, oh boy is that this good news for you. TechCrunch has notes on the enterprise capital winners’ record and extra on the corporate’s economics for your studying pleasure.
  • The tech labor market is brutal: So brutal, in truth, two corporations that assist their prospects discover distant, freelance expertise expertise at the moment are in a authorized combat. Toptal is taking Andela to courtroom over “the theft of trade secrets in pursuit of a perfect clone of its business,’” TechCrunch experiences.

Startups and VC

  • Vertical SaaS continues to be scorching: How do we all know? Fresha simply raised $100 million. The firm supplies software program for hair and nail salons, yoga instructors, and different well being, magnificence, and wellness SMBs. Vertical SaaS corporations can usually have each enticing software program incomes and powerful funds revenues.
  • More cash for neobanks: My basic philosophy that there’s infinite cash accessible for neobanking startups around the globe is holding up as TechCrunch broke news that “Bangalore-based neobank Open is in advanced stages of talks to raise about $100 million” from probably Temasek and General Atlantic. The neobank could possibly be price $600 million after the deal, TechCrunch reported.
  • The edtech growth just isn’t over: Sure, COVID-19 is receding in some nations, and financial exercise is rebounding globally, however that’s not stopping edtech corporations that bought a pandemic bump from elevating extra cash. This week it’s Indian edtech firm Classplus, which may increase $30 million from Tiger Global we reported, at a valuation of as much as $250 million. That’s actual cash.
  • Neither is world curiosity in funding extra insurtech startups: That’s what TechCrunch realized chatting up a bunch of EU-based VCs, who stated that the European insurtech market is tremendous busy, if maybe not fairly as frenetic because the market for insurance coverage expertise startups in America.

Insurtech is scorching on each side of the Atlantic

This morning, The Exchange dug into the EU insurtech market, interviewing European VCs and collating the most important current rounds to get a temperature of the waters throughout the pond:

  • Alex Timm, CEO, Root
  • Dan Preston, CEO, Metromile
  • Luca Bocchio, accomplice, Accel
  • Florian Graillot, investor, Astorya.vc
  • Stephen Brittain, director and founder, Insurtech Gateway

Several European-based insurtech startups entered unicorn territory this 12 months, similar to Bought By Many, which provides pet insurance coverage, London-based Zego and Alan, a French startup that raised a $220 million spherical.

According to Brittain, EU startups on this sector are “still at the very early stages of innovation,” having solely proven “a fraction of what’s possible” in a market that’s “as large as banking.”

(Extra Crunch is our membership program, which helps founders and startup groups get forward. You can enroll right here.)

Big Tech Inc.

  • Everyone sucks at cybersecurity: This week’s its Volkswagen, by way of a third-party vendor. The vendor in query uncovered 3.3 million prospects’ knowledge. At some level the fines for this kind of error must rise to the extent of ache that may power companies to cease fucking up. Enough is sufficient.
  • Apple hires from Canoo for automotive can-do: This week Apple confirmed that it employed “former co-founder and CEO [Ulrich Kranz] of electrical automobile firm Canoo. Though the corporate declined to say what he’s engaged on. It’s 1,000% a brand new cube-shaped, six-screen iBloc, proper? Without wheels?
  • Sticking to the Apple beat, the corporate introduced its “Design Award” winners. TechCrunch has the run-down you want right here.

TechCrunch Experts: Growth Marketing

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