Beeper acquired by Automattic, fintech's decline and YC's lack of LatAm founders

Equity

TechCrunch

Founders, Silicon Valley, Finance, Ipo, Vc, Technology, Business News, Startups, Business, Venture Capital, News, Stock Market, Entrepreneurship, Techcrunch

4.2 • 365 Ratings

🗓️ 12 April 2024

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today, the Equity crew dug into Automattic buying Beeper for $125 million. Recall that the WordPress parent company bought Texts.com last year for $50 million. Elsewhere in deal-land, Proton bought Standard Notes, and we recently discussed the Wonderschool-Early Day purchase. More, please! In the Deals of the Week column, Mary Ann chose Payjoy’s massive new run rate, while Alex wanted to riff on the Proxima Fusion round that could help bring the next energy revolution a little bit closer to reality. And to close out, we looked at Anna Heim’s latest on Y Combinator’s evaporating number of participating startups from Latin America, which we posit could have something to do with fintech falling out of favor with investors — and fintech being the startup category that we most associated with Latin America founder activity.

Transcript

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0:14.7	Hello and welcome back to Equity, a podcast about the business of startups where we unpack the numbers and the nuance behind the headlines.
0:19.1	My name is Alex and I'm joined by my buddy in crime, it's Senior Tech Report on the FinTech Beat, Mary Ann,
0:26.4	and Azevedo, Marion, hello, how are you?
0:28.0	Hey Alex, how's it going?
0:29.8	You know, I'm taking Friday off, so I am clicking my final buttons and pushing my final
0:35.9	screens around and then I'm going to go dissolve into a puddle of mush on the floor I
0:40.0	can't wait it's going to be fantastic I I'm excited for you. But I will be back on Monday,
0:45.3	which means more equity, which means we need you to drop us a review. So if you get a chance
0:50.1	on whatever podcast streaming service you are using.
0:53.0	Go ahead, drop us a review, drop us a star rating.
0:56.0	If you have nice things to say, please go on at length.
0:59.0	If you have mean things to say, well, I don't know, keep it brief.
1:02.0	Anyways, we appreciate you very much and on the show today
1:04.7	deals of the week from Payjoy and Proxma Fusion then a rising theme of
1:09.8	startup acquisitions and then finally do Latin American startups even need YC start up
1:13.0	acquisitions and then finally do Latin American startups even need Y, see anyway.
1:15.0	All right, Mary Ann, we're starting off with Payjoy,
1:18.0	and I gotta say this company was not what I expected
1:20.0	and it's much cooler than I thought.
1:22.0	Really? Okay, that's a good thing.
1:24.0	I thought it was cool too, Alex, so it wasn't like a funding round piece,
1:28.0	but they did share with me that they had reached annualized revenue of $300 million last year and I was like, whoa, that's a lot, so what do you do exactly?
	...

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