Extra Crunch Tuesday: Inside Rover and MoneyLion's SPAC-led public debuts

Extra Crunch Newsletter

Tuesday, February 16, 2021 • By Walter Thompson

Welcome to Extra Crunch Tuesday Image Credits: Nigel Sussman When I saw that Alex Wilhelm wrote this morning about two more startups that taking the SPAC route to public markets, I briefly wondered if we’ve been covering special purpose acquisition companies too frequently. After I read the first sentence, I realized he made exactly the right call: a trend that emerged in 2020 may be turning into a actual wave: this week, pet e-commerce company Rover and fintech startup MoneyLion both announced that they’re planning SPAC-led debuts. Yesterday, Alex covered the news that Lerer Hippeau Acquisition Corp. and Khosla Ventures Acquisition Co. I, II and III. filed S-1 filings last week. “You have to wonder if every VC worth a damn in the future will have their own raft of SPAC offerings,” says Alex. Wrote Lerer Hippeau Acquisition Corp.: With our portfolio now maturing to the stage at which many are considering the public markets, we view SPACs as a natural next step in the evolution of our platform. “If we are not careful, every entry of this column could consist of SPAC news,” writes Alex. Thanks very much for reading Extra Crunch! I hope you have a great week. Walter Thompson Senior Editor, TechCrunch @yourprotagonist Read more

From dorm rooms to board rooms: How universities are promoting entrepreneurship Image Credits: CasarsaGuru / Getty Images Fifteen U.S.-based institutions of higher learning have joined forces to create the University Technology Licensing Program LLC (UTLP). The program makes it easier for entrepreneurs and investors to find IP that can drive their companies forward, but it’s also an attempt to repair what one participant calls “the somewhat broken interface between universities and very large companies in the tech space.” Read more

TC Sessions: Justice 2021 Sponsored by TechCrunch Explore diversity, equity and inclusion, the gig worker experience, the justice system and more in a series of interviews with key figures in tech. Read more

4 strategies for deep tech companies recruiting top growth marketers Image Credits: https:/Mallika Wiriyathitipirm/EyeEm / Getty Images Here’s some real talk for technical founders: if you find it frustrating to work with growth experts and marketing professionals, the feeling’s probably mutual. “Incredible growth people are independent and creative and are drawn to environments that explicitly value these traits,” says Jessica Li, a content/growth professional who was previously a VC. To land top talent, “demonstrate that you have a team structure in place where a growth marketer could fit in and thrive.” Read more

9 investors discuss hurdles, opportunities and the impact of cloud vendors in enterprise data lakes Image Credits: Donald Iain Smith / Getty Images I’m still on my first cup of coffee, but I’ve already interacted with four different devices this morning that transmitted details about my behavior to a data lake. Hopefully, the response I sent to an automated text while waiting for the kettle to boil will generate a discount offer in my inbox later today. (And hopefully, the raw data I’m transmitting has been properly secured and cataloged.) Enterprise reporter Ron Miller interviewed nine investors to learn more about their approach to the lucrative data lake market: Caryn Marooney, general partner, Coatue Management Dharmesh Thakker, general partner, Battery Ventures Casey Aylward, principal, Costanoa Ventures Derek Zanutto, general partner, CapitalG Navin Chaddha, managing director, Mayfield Jon Lehr, co-founder and general partner, Work-Bench Peter Wagner, founding partner, Wing Ventures Nicole Priel, managing director, Ibex Ventures Ilya Sukah, partner, Matrix Partners Read more

Felicis' Aydin Senkut and Guideline's Kevin Busque on the value of simple pitch decks Image Credits: Felicis Ventures / Guideline When it comes to building a durable relationship between a founder and an investor, "the trust starts in the pitch deck," says Guideline CEO Kevin Busque. Busque joined Extra Crunch Live last week with Felicis Ventures' Aydin Senku to discuss the seed round Senku declined to join — and the Series B he led a short while later. In keeping with our new format, the pair also offered feedback on pitch decks submitted by members of the audience. Read highlights, or watch a video with the full conversation. Read more

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