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The wait was long but this week the timing was right: Airbnb has finally unveiled its S-1 and so has Affirm, C3.ai, Roblox and Wish. We are likely to see these five prices on public markets before the end of an already superlative year for technology IPOs. The current pandemic and political turmoil have not been scary enough, apparently.
Over the next decade, you should think that we are seeing a more uniform spread of technology companies going public. Many of the above companies have been bottled up for years behind privately funded growth strategies. Today, however, the industry has a better understanding of SPAC and direct listings, and of various funding avenues. Companies have more options than their foundation so they can grow and exit one day. Public investors in 2020 also appear to have a deeper appreciation for current revenue numbers and opportunities for future growth for technology companies. Because, I still remember all the genes that boasted of shortening Facebook’s IPO not so long ago.
Will we see a more uniform spread of where IPOs come from? While all of this week’s presenters are headquartered in San Francisco or the surrounding area, it now feels almost like a casual reference to the years in which these companies were founded. More states have joined their unicorns, with Ohio-based Root Insurance recently going to the public and Utah-based Qualtrics heading (back) that way. Meanwhile, technical startups are now global, and many countries are working to keep their unicorns closer to home than New York.
On the titles from TechCrunch and Extra Crunch:
What does a Biden administration mean for technology?
What does Joe Biden mean as president around technology policy? On the one hand, tech companies couldn’t go back too far to the White House. “All in all, we see some well-known names in the mix, but 2020 is not 2008,” Taylor Hatmaker explains on potential industry presidential appointments. “The technical enterprises that have emerged as golden children in the last 10 years are radioactive now. Regulation is growing on the horizon in every direction. Whatever political priority emerges from the Biden administration, the Obama’s technocratic golden age is over and we are looking for something new. ”
However, technology industries and companies focused on common goals can find support. In a review of Biden’s climate change policies, Jon Shieber looks at major green infrastructure plans that could be on the way.
Any policy that a Biden administration enacts should focus on economic opportunity in general, and a large part of the plan proposed by the campaign responds to this need. One of his key proposals was that it would “create good, unionized, middle-class jobs in left-wing communities, redress the wrongs in communities that bear the brunt of pollution, and raise better ideas from across our great nation. – rural, urban and tribal, ”according to the transition site. An early emphasis on network and utility infrastructure could create significant opportunities for job creation across America – and be a boost for technology companies. “Our electricity infrastructure is old, outdated and unsafe,” said Abe Yokell, co-founder of the Congruent Ventures company, which focuses on energy and climate. “From an infrastructure point of view, the distribution of the transmission should really be updated and it has been underinvested over the years. And it’s in direct line with the distribution of renewable energy in the United States and the electrification of everything. ”
The future of construction technology
A shortage of skilled labor is accumulating over the traditional challenges of the construction industry this year. The result is that technology adoption is gaining momentum in the real world, Allison Xu of Bain Capital Ventures writes in a guest column for Extra Crunch this week. Elaborate six main ones construction categories where tech startups are emerging, including project design, design and engineering, pre-construction, construction execution, post-construction and construction management. Here is an excerpt from the article on that last article:
- How it works today: Construction management and operations teams manage the project end-to-end, with functions such as document management, data and insights, accounting, financing, HR / appointment, and more.
- Main challenges: The complexity of the work site translates into highly complex and cumbersome documentation associated with each project. Process management requires communication and alignment across stakeholders.
- How technology can solve challenges: The nuances of the multi-stakeholder construction process deserve value in a verticalized approach to project management. Construction management tools such as Procure, Dash solutions and IngeniousIO they have created ways for entrepreneurs to coordinate and follow the end-to-end process more perfectly. The other players like it Level they have taken a construction-specific approach to functions such as invoice management and payments.
Virtual HQ after the pandemic?
Work solutions from the pandemic era such as online team meeting spaces are moving towards a less certain reality, based on vaccines. Are we all gone — long enough to have a real market, anyway? Natasha Mascarenhas takes over possession with some of the top companies to see how it looks, here’s more:
With the goal of making remote work more spontaneous, there are dozens of new startups working to create virtual HQ for distributed teams. The three that are listed at the top include Ramu, built by Gen Z gamers; Cash in, created by engineers who build a gamified Zoom; and Weather in Culluccia, who is still in a rage.
Platforms are all underway to demonstrate that the world is ready to be a part of virtual workspaces. Drawing on the culture of multiplayer gaming, startups use space technology, animations and productivity tools to create a dedicated work metaverse.
The biggest challenge to come? Startups need to convince venture capitalists and users that they are more than Sims for Enterprise or a Zoom call always on. The potential success could signal how the future of work will mix play and socialization for distributed teams.
Throughout the week
This week is over to be incredibly busy. What else, with a week that included both Airbnb and Affirm IPOs, a mega-round series for new unicorns, some exciting smaller funding events and some new funds?
- Affirm has submitted to go public! The fintech unicorn is big, growing and losing less money over time. We were pretty impressed at our first glance. Then, with a little more time, we he dug deeper and found a weakness or two. However, Affirm is aimed at the public and is not in bad shape.
- Airbnb introduced it, and we jumped in an Equity Shot as soon as we could Tuesday to get our minds around the news. Since then, Danny has been digging through the circle of venture capitalists – a surprisingly small set of businesses! – and so do we I had some questions I had about the company’s finances.
- It is said that Robinhood has an IPO in the books, so we talked a bit what we know about its Q3 growth.
- And then there was edtech, as always. This week we talked Tencent supports Udemy, Duolingo stood up again and Transfr picking up a Serie A that we thought was super interesting.
- Danny wanted to talk in Trust & Will Series A. We try not to make so many jokes.
- ZenBusiness also raised $ 55 million, in a series B too large
- Financial Venture Study puts in place a new fund to cut small controls in fintech startups during seeding. We think it’s great. Especially given what we know about what’s happening in the world of fintech companies.
- And Natasha he made us go through the last dive, a look at the world of virtual headquarters. This led to the show’s funny style.
What a week! Three episodes, some new records, and we got very tired after all the action. More Mondays!