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Equity

Gas, Slay, what’s next? Fire?

Equity

TechCrunch

Business, News, Technology, Business News, Entrepreneurship

4.2372 Ratings

🗓️ 20 January 2023

⏱️ 33 minutes

🧾️ Download transcript

Summary

Natasha Mascarenhas, Mary Ann Azevedo and Rebecca Szkutak had fun on this week's recording: Deals of the week included a new Trust Fund, a $29M raise from a proptech started by the co-founders of cloud computing company DigitalOcean and a $27M bet by some U.S.-based VCs on an African gaming startup, Carry1st. Then we got into the state of fintech funding in 2022. Spoiler alert: It wasn't pretty. We compared fintech's year to that of global startups as a whole, and Becca gave us a lesson on the difference between structured rounds and down rounds. We had a blast discussing a new trend of compliment-based teen social media apps, including Gas, which recently got acquired by Discord, and Slay, a German startup that just raised $2.63 million. And finally, we discussed Microsoft's latest round of layoffs, which we found both unfortunate and a bit perplexing. On that note, we appreciate you all and thank you for the refreshing flood of feedback and compliments to start off the year. It always makes our days, and we hope we can lighten up and inform yours. Equity drops at 10:00 a.m. PT every Monday and at 7:00 a.m. PT on Wednesdays and Fridays, so subscribe to us on Apple Podcasts, Overcast, Spotify and all the casts. TechCrunch also has a great show on crypto, a show that interviews founders, one that details how our stories come together, and more! Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products. Learn more about your ad choices. Visit megaphone.fm/adchoices

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 nuance behind the headlines. I'm Natasha Masqueriness and

0:18.3

joining me is Senior Tech Crunch reporter and FinTech Extraordinare,

0:21.8

Marianne Asavito. Marianne, how are you?

0:24.4

Tell me something about your day or week.

0:26.2

Yeah, you know what?

0:27.0

I feel good.

0:27.8

I've had more energy this week than I've had in a long time

0:31.1

and it's a really good feeling. I hope I can keep it up heck yes we are also joined by

0:36.0

Becca scutak I'm gonna put you on the spot and ask you who do you like more equity or found oh my god

0:40.8

now that you're on both paws. Pick your face. I am not answering that.

0:44.8

Who would you bring with you to an island? Like the host? Like do I go to an island with

0:48.1

Darryl or do I go on island with you guys? I don't know. I would pick the people there's more of, but also I feel like Canadians have secrets up their sleeves,

0:55.7

so I wouldn't blame you if you pick.

0:57.2

So yeah, Darryl is a mysterious character, that's for sure.

1:00.1

He really is.

1:00.9

Well, thank you both for joining me this week. There's so much to get to this show.

1:04.4

We're going to start with three deals of the week as always looking at trust, fund, welcome homes, and carry first.

1:10.0

Then we're going to go into Data, Theme 1, looking at 22 funding data, specifically in the FinTech world and looking globally.

1:16.5

We'll get into Twitter rivals and some new social media startups, including one that got acquired by discord,

1:21.8

and we'll end, end unfortunately with layoffs coming from

1:24.4

Microsoft that I think even after a year of constant layoff news surprised all of us.

1:29.9

But I will throw it to myself for the first section because we're going to talk about Trust Fund.

...

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