Daily Crunch: PayPal Ventures leads $50M Series B for Egyptian fintech Paymob

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It’s Monday, May 9th, and today is a day of drama using the browser’s cache in the form of the word Wordle, which the New York Times considered too controversial, but still there for people who haven’t updated their browser in a while. Find out what the word was and why it was dramaaaaaain Amandaa piece. By the way, DRAMA would be great wordle word, so that’s it. – Christine and Hadje

TechCrunch Top 3

  • An offer they couldn’t refuse: Egyptian fintech firm Paymob appears to have landed one of the largest funding deals in the region — a $50 million Series B involving PayPal Ventures and Kora Capital — thanks to its ability to turn cash-loving customers into digital users with their cards and wallets. . This has subsequently resulted in a 4x monthly volume growth and the company’s expansion to Pakistan is expected to deliver even better results.
  • Wall Street’s downward spiral continues, but not everyone feels it: The stock market was still red when we wrote this, so it might be a good idea to take a little time to review your investments. However, not everything is so bad in the world of stock indicators, and Alex and Ron took a look at four tech companies that performed well last week despite volatile markets.
  • Hacking Your Tesla’s Radio: If you want to implement CarPlay in your Tesla, check out one of the local TechCrunch masters. Mattwho decided to try it on his Ford F-150 to show how easy it is.

Startups and VK

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If you’re a startup founder, money – in particular, your own salary – can be a stumbling block. You need permission from the board of directors to increase your salary, but how to know if you are underpaying yourself or overpaying? We have received a dataset of 250 companies that sheds light on this issue.

On TS+, Alex described the current stock market spiral as “wildcard detection, for which we are all. Meanwhile, Connie spoke to Sequoia’s Jess Lee to better understand how VCs think about their deals.

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Feed your brain with these delicious treats:

  • Cuddle with linguistically progressive robots: We’re fans of big-name startups, and Hugging Face, now valued at $2 billion, could very well be one of the best. The company creates “GitHub Machine Learning” and just raised $100 million continue this path.
  • Working 9 to 5 (Indonesia edition): Atma, an Indonesian startup that wants to make job hunting less painful, raised $5 million in pre-funding led by AC Ventures.
  • Workin’ 9 to 5 (Middle East and Africa edition)A: For the Middle East and North Africa market, Manara has raised $3 million to expand the tech talent pool in the region..
  • So smart you can hardly believe it.: When the machines take a close look at the plants, funny things start to happen. Brightseed Gatherer machine learning platform that identifies and classifies plant compounds. Already mapped 2 million, which is significantly more than described in the scientific literature. And he raised $68 million to delve into science.
  • I’ve been fighting the law and… well, actually, the jury’s still out.: Swedish startup PocketLaw — a software-as-a-service legal technology platform for contract automation that primarily targets SMEs — received $11 million in Series A funding stimulate expansion in Europe.
  • Almost unstoppable home improvements: Bucketplace, a South Korean startup that operates home and interior decorating app OHouse, is looking to further capitalize on the DIY trend. raise $182 million to add some augmented reality to the mixture.

A Founder’s Guide to Correctly Calculating CAC and LTV

Blue calculator and colored arrow graph

Image credits: Marina Terletskaya (Opens in a new window) / Getty Images

How freely do you talk about your key indicators?

Round sizes are shrinking, but investor expectations are rising. Blair Silverberg, CEO and co-founder of Hum Capital, says founders need to get a solid understanding of LTV (lifetime value) and customer acquisition cost (CAC) before they start pitching.

“While founders seeking high valuation may be hesitant to take a conservative approach, it can be critical to building investor confidence,” Silverberg writes.

This post outlines several factors that will help you accurately calculate LTV/CAC, increasing transparency for potential investors.

“As a former venture capitalist, I always tell founders that the most powerful tool they can use when raising funds is a data-driven presentation.”

(TechCrunch+ is our membership program that helps founders and startup teams get ahead. You can register here.)

Big Tech Inc.

Today there was a lot of news about mobility: Let’s start with Lordstown Motors, which posted a $90 million loss (the electric truck maker has yet to release the vehicle) and has yet to say whether a proposed deal to acquire the facility with Foxconn will meet the May 14 deadline. Next, RivianShares in another publicly traded truck maker, EV, fell on news that Ford was selling some of its shares in the company. Then we have a couple of Uber stories – the first is about the ridesharing giant. choice in favor of arbitration to settle a dispute with drivers in Kenya over a fare reduction. Secondly, this Uber shareholders were due to vote today on a proposal that would open up the company’s lobbying activities.. Teamsters tried to put forward this proposal last year, but did not receive votes. Like all that car talk? Kirsten lays it all out beautifully for you in his newsletter, Station.

Are you an office fan? No, not the show, the place where you work. Ron spoke to several tech companies to gauge their attitudes towards what a possible future without an office might look like. Some closed offices at the beginning of the pandemic and then brought them back. Others have given up renting offices forever. Others have realized that you don’t have to sit in a cubicle every day. Obviously, most companies will have to figure out what their future looks like.

Here’s what else happened today:

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