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| |  Image Credits: Chris Graythen / Getty Images | | Earlier this week, we reached out to several investors to get their thoughts about how the pandemic is affecting gaming startups. Yesterday, we followed up with a report that examined the esports sector, which has seen a surge since millions began sheltering in place. In Q1, it looked like funding for esports had fallen off, but widespread lockdowns have sparked new interest. Seven VCs offered their perspectives: - Peter Levin, Griffin Gaming Partners
- Beth Ferriera, Firstmark
- Ethan Kurzweil, Bessemer Venture Partners
- Jens Hilgers, BitKraft Ventures
- Doug Higgins, Sapphire Sport
- Rick Yang, NEA
- Kevin Baxpehler, Remagine Ventures
We have two Extra Crunch Live events next week you’ll want to add to your calendar: Everyone is invited to watch, but we’ll take questions from Extra Crunch members — please subscribe now if you haven’t already. Thanks for reading, and have an excellent weekend! Walter Thompson
Senior Editor, TechCrunch
@yourprotagonist Read more | | | |
| |  | | In today’s column, Alex Wilhelm sorts through an exhausting week for tech news. “So let's talk about a16z's new crypto fund, recent economic data, the Ebang F-1, Lime's layoffs, Procore's IPO delay and fresh valuation, stocks, Luckin, and, if we have time, Twitter's changing jobs data. Let's get this all out of our heads and into the world.” Read more | | | |
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| |  Image Credits: Bryce Durbin/TechCrunch / | | Dear Sophie: I'm a tech founder on an E-2 investor visa. Will receiving PPP funding count against me when I renew my E-2 or file my I-485 for my green card given the "Public Charge" restrictions? — E-2 Employer in Emeryville Read more | | | |
| |  Image Credits: Sasha Astafyeva | | Steve O’Hear interviewed Sasha Astafyeva, a new investment partner at European VC firm Atomico, about how COVID-19 is impacting consumer tech and which sectors are most resilient. “At the moment I would say that all of us are developing new habits and the longer we practice them, the more likely they are to become a new normal,” says Astafyeva. Read more | | | |
| |  Image Credits: 35007 / Getty Images | | Overall deal volume in the U.S., UK and Western Europe declined between Q4 2019 and Q1 2020, but average deal size increased by 27%. In Latin America, however, deal count declined nearly 60%. Given the stark difference in invested capital, founders will likely have a hard time securing future rounds, but the region’s startup scene is still emerging because “there is a growing pool of capital in Latin America focused on early-stage opportunities.” Read more | | | |
| |  Image Credits: Himanshu Bhatt / NurPhoto / Getty Images | | News broke this week that Uber CTO Thuan Pham was departing and the ride-hailing colossus was planning to reduce headcount, so Alex Wilhelm rewound the company’s post-IPO financial timeline to see what led to this turning point. Read more | | | |
| |  | | Roelof Botha was a 28-year-old CFO when PayPal went public in 2002. After becoming a partner at Sequoia the following year, he’s held seats on the boards of 23andMe, Eventbrite, Tumblr and several other startups, but he also has an extensive list of investments we don’t have space to include here. On Wednesday, May 6, Botha will join Extra Crunch Live for a livestream; we’ll take audience questions at the end, so come prepared. Read more | | | |
| |  Image Credits: Maskot / Getty Images (Image has been modified) | | Edtech was shoved into the spotlight when schools around the world closed campuses to stem the spread of COVID-19, and Q2 looks to be busier than ever for companies in the space. Many edtech founders who aren’t seeking funding are getting emails “from investors looking to chat,” writes Natasha Mascarenhas, who unpacks “some of the dollar signs indicating that edtech may be entering a new era.” Read more | | | |
| |  | | Mike Butcher spoke to Aiden co-founders Marie Outtie and Pierre-Jean "PJ" Camillieri to find out how they built and sold their AI-driven SaaS startup to Twitter in just over three years. Read more | | | |
| |  | | In an Extra Crunch Live discussion with Megan Rose Dickey, Kapor Capital founding partners Freada Kapor Klein and Mitch Kapor spoke about the current economic downturn, the importance of treating employees fairly and how some investors have become rank opportunists. "We have seen a lot of VCs acting incredibly badly in the last couple of weeks — taking advantage of startups that are in a precarious position," Kapor Klein said. Read more | | | |
| |  Image Credits: Boris SV / Getty Images | | Jobber co-founder and CEO Sam Pillar has identified five principles that help entrepreneurs build trust and improve communication. “Jobber is proof that starting a company with a stranger isn't just doable, it can even be an advantage,” he writes. Read more | | | |
| |  | | As predicted, yesterday’s Extra Crunch Live with Mark Cuban was a frank conversation about how the pandemic is reshaping the tech world. The star of “Shark Tank” offered advice on conserving runway, how he’s advising his portfolio companies and whether he’s considering a presidential run. First and foremost: "If you think the accomplishment is raising money first, we're probably not gonna get along.” Read more | | | |
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