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Equity

What's the Deel with Remofirst, and why are VCs playing musical chairs?

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2372 Ratings

🗓️ 8 March 2024

⏱️ 32 minutes

🧾️ Download transcript

Summary

Today on the pod, Mary Ann and Alex dug into a whole mess of news, including: Mews' massive new round is proof that vertical SaaS + payments remains a great way to build a big business, and earn a unicorn valuation at a time when those are growing rarer. The global companies taking on Carta, including QuotaLab in South Korea. An acquisition has helped QuotaLab expand its product remit to founders, investors and their LPs. Deel's purchase of Africa’s PaySpace got us talking about how acquisitive the HRtech company has been lately. We also dug into news that Deel crossed the $500 million ARR mark, a feat that other companies in its market have managed, like Gusto. (Remofirst also raised more capital, showing just how competitive Deel's market is today.) Venture capital musical chairs: One Founders Fund investor has left the firm to go back to building things, while Benchmark lost a partner to their prior home at Thrive. Expect more, similar moves this year as venture resets from its last boom. We have an interview coming out tomorrow that we're stoked about, and will be back on Monday. Talk soon! For episode transcripts and more, head to Equity’s Simplecast website. Equity drops at 7 a.m. PT every Monday, Wednesday and Friday, 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 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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0:19.0

Hello and welcome back to Equity, a podcast about the business of startups where we unpack the numbers and the nuance behind the headlines. My name is Alex and I'm joined today by a senior reporter on the FinTech Beat. It's our dear friend,

0:24.0

The A's from Austin, it's Mary Ann Azvetto. Hi.

0:27.0

Hi, Alex. I have to come up with a nickname for you now.

0:30.0

The piker from Providence, the poser from Patucket I don't know the Rhode Island

0:36.2

Rascal whatever you want I'll think about that some more but those are pretty good

0:40.1

Mary and I are here because this is our Friday show where we go back through some big news in the week, talk about

0:45.2

some themes that we are seeing.

0:47.1

Before we get into the show rundown though, the Equity Team does have a request of you.

0:52.4

If you've been listening to the show for a couple of weeks, a couple of you. If you've been listening to the show

0:53.4

for a couple of weeks, a couple of years,

0:55.6

a half decade or more,

0:57.6

the Equity team would love it

0:58.8

if you would drop us a review on Apple Podcasts,

1:02.0

Spotify, whatever you use, if you hang out with us and you have a couple of minutes, we love that.

1:07.6

We will give out shout-outs, Mary Ann, to people on the show who say particularly funny, witty, or kind things.

1:13.0

And if you're particularly mean, we might read that too.

1:17.2

Hopefully no mean comments.

1:18.6

We would really appreciate it.

1:20.2

You know, we do this sometimes.

1:21.5

And reading these reviews, it's a great motiv these reviews it's a great motivator it's a great boost and we we want you to know how much we appreciate you as listeners so even just a minute or two to drop a review and we would be so grateful. Thank you.

1:34.0

All right now, Marianne, today on the podcast, we have a big deal from a company called Muse.

1:40.0

We love seeing a big round for a new unicorn.

...

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