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Happy start to the week, startup nerds!
Tomorrow (Tuesday), we have not one, but two Twitter Live events, and we’re excited about both. At 8:00 a.m. PDT / 11:00 a.m. EDT, We are talking with Andrew Chan on why Gen Z VCs are crap, and at 12:00pm PDT / 3:00pm EDT, we’re talking to partner M13 anna barber on what today’s founders can learn from the bursting of the dot-com bubble.
TechCrunch Top 3
- 2001, a starbucks odyssey: In August, Starbucks made things leak with plans for a blockchain-based loyalty program and NFT community. Today, the coffee giant creates additional excitement by introducing the Starbucks Odyssey. Sarah has more on this hot and steamy cup of rewards.
- Twitter against Elon Musk, part 265: Ivan writes that “the third time is the charm” for Elon Musk’s lawyers, who served a third termination notice to Twitter regarding the severance payment made to former security chief Peiter “Mudge” Zatko in June, arguing that this action violated Musk’s proposal. agreement to acquire the social media giant. Or so they thought. Twitter denies that this violated the agreement.
- Africa’s hot and heavy fintech sector: Kippa, a Nigerian financial management app for merchants, closed with $8.4 million in new funding. Label reports that Kippa already has 500,000 merchants using its app since its launch last June.
Startups and VCs
EV truck company Nikola merged with VectoIQ in a SPAC in June 2020 at a valuation of $29 billion. Trevor Milton, ex-CEO of Nikola, begins his trial for fraud, which serves as a warning to risk-loving investors who would throw money at a company before it starts offering products or generating revenue, Rebeca reports.
“The reality is that if you’re a Silicon Valley-based venture firm, no LP at your annual meeting is going to ask you, ‘How did company X get lost in Columbus?’ Like, that’s not going to happen. But they will ask you ‘How did you miss company Y that was in Silicon Valley?’ They don’t want to miss those things in their backyard,” explained Chris Olsen in a fascinating interview with Conny. Olsen spent six years at Sequoia Capital in California before co-founding Drive Capital in Columbus, Ohio in 2013.
Tangentially related, for our City Spotlight: Minneapolis last week, Haje organized a panel discussion What Minneapolis Investors Are Looking For (Hint: It’s Not Just Minnesota Startups).
Here are some more for you:
For LatAm payment orchestration startups, market fragmentation is a blessing in disguise
In Latin America, e-commerce is plagued with high rates of fraud. Just 20% of adults have a credit card, and many of those who do can’t use it internationally.
It’s also true that e-commerce is growing faster there than in any other region since the pandemic began. According to a study, online sales in Latin America will generate $379 billion in an increase of 32% year over year.
“The payments landscape in Latin America seems hopelessly fragmented and riddled with fraud,” says Rocío Wu, director of F-Prime Capital.
“However, we believe that fragmentation actually offers a great opportunity for vertically integrated payment orchestration startups to capture a lot of value.”
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great tech inc
We know you missed Apple’s news fix over the weekend, so the team, including zack, Ivan, Sarah Y Romanteamed up to bring you some stories related to iOS 16. First they are five new security and privacy features followed by “clever” features you won’t want to miss out. So all you wanted to know about lock screen widgets and how downloading iOS 16 will convert your iPhone on a more personal device and finally, the skinny on Apple Access Key.
- Looking at India: That’s exactly what Google plans to do with some of the making your Pixel smartphones, manish write
- What not to leave in your hotel room: I’m not sure how you can just “find” a Prototype Meta Quest Probut that’s what a video game streamer in Mexico says happened. Amanda has more.
- Nope: Can’t say Amazon didn’t try. The e-commerce giant is urging the European Union accept your offer to end an antitrust investigation into the third party’s use of data. Natasha L. writes that some advocacy groups are calling Amazon’s offering “weak, vague, and full of loopholes.”
- Chocolate, salty balls maybe?: Move over pods and K-cups. The coffee balls are here. Find out what Haje had to say about the Swiss-based company coffee maker B.