2 Tesla models qualify for EV tax credits after company marks prices down by 20%

TechCrunch Newsletter

By Christine Hall and Haje Jan Kamps Friday, January 13, 2023

The team who went to CES is back at their desks. If you missed the barrage of stories — or simply couldn't stay on top of them — Brian wrote up an amazing CES 2023 debrief. Give that a skim, and you'll be safe in the knowledge that you didn't miss anything major as you grab your favorite easy chair and a book to settle in for the weekend.  — Christine and Haje Image Credits: Tesla

The TechCrunch Top 3 Slasher movie, but IRL: Tesla is reducing its prices again, this time for U.S. buyers, by as much as 20%, Kirsten reports. This new lower base, which dips below $55,000, "is important because it allows buyers to qualify for the $7,500 federal tax incentive," she writes. Claws out: Fintech startup Mayfair debuted its high-yield APR for businesses, buoyed by $10 million in funding from investors like Tiger Global. Mary Ann has more on how the company is able to offer such a high interest rate. If A then B: Manish writes about Google warning India that if its antitrust ruling is allowed to stand, it will pose a threat to national security and cause Android device prices to rise in the region.

Startups and VC It seems like SPACs aren't completely dead yet, as World View, a company developing stratospheric balloons for Earth observation and tourism, is heading to the public markets, Aria reports. The company announced Friday that it would merge with special purpose acquisition company (SPAC) Leo Holdings Corp. II in a deal worth $350 million, as it seeks to build out what it calls "the stratospheric economy." And we have five more for you: E Ink leaves monochrome behind: Harri writes that E Ink's latest color displays have her dreaming of electronic paper magazines. Twitter rival raises moneys: Twitter rival T2 raises its first outside funding — $1.1 million from a group of high-profile angels, reports Ingrid. Layoffs in crypto: Manish reports that Crypto.com cuts 20% of jobs amid “unforeseeable” industry events. Layoffs in crime reporting: Amanda reports that crime reporting app Citizen lays off 33 employees. Layoffs in fintech: Jagmeet reports that Greenlight, a kids-focused fintech startup, lays off 104 employees to optimize expenses.

You're not going to grow into your 2021 valuation Many, if not most, of the founders who are attached to their 2021 valuations are living in a fantasy, according to Jeremy Abelson and Jacob Sonnenberg of Irving Investors. For this TC+ post, they worked out “the simple math behind how long it will take companies to price their IPO at a flat round to their previous 2021 valuations.” Companies with 75% YoY growth “can entertain the discussion,” but “if you are growing sub 30%, there is a strong chance that growing into your 2021 valuation is impossible.” Three more from the TC+ team: The right funds, the right way: Carlos Antequera shares 4 tips to find the funding that fits your business. Much strategery: Becca asks whether it makes sense to raise a structured round over taking a valuation cut? Crypto chaos continues: Crypto in for a “choppy year” of slow capital deployment, investors share with Jacquelyn. TechCrunch+ is our membership program that helps founders and startup teams get ahead of the pack. You can sign up here. Use code "DC" for a 15% discount on an annual subscription! Read More Image Credits: nfsphoto / Getty Images

Big Tech Inc. Are you scooting around Paris right now? Well, this could be your last time. Romain has a lengthy look at how scooters in Paris are at a crossroads as the city ponders whether to put the brakes on renewing contracts with three companies. As Michael Scott said, "Buckle up, it's going to be a bumpy one." Meanwhile, Sarah and Kirsten paired up on a scoop that Tokyo-based news aggregator SmartNews laid off 40% of staff in the U.S. and China. And we have five more for you: The tweet is on: Ivan writes that Twitter users are reporting that third-party apps on the site are facing issues. Meanwhile, over at Twitter alternative Mastodon, Medium launches its own community. Sarah has more. A little bit of history repeating: Devin writes that President Biden's call to "unite against big tech abuses" sounds kinda familiar. Layoffs in robotics: Alphabet's robotics division is letting people go, Brian reports. If you like clickety-clack on your keyboard: Frederic reports that Keychron gets it right with its Q10 Alice-style keyboard. Do you hear what I hear?: VALL-E's quickie voice deepfakes should worry you, Devin writes.

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Pet tech startup Digitail fetches $11M Series A led by Atomico

TechCrunch Newsletter

By Christine Hall and Haje Jan Kamps Thursday, January 12, 2023

Hello, dear readers! We're back once again (like a renegade master) with a wall of great tech news stories. Plug in some headphones and bop your head to that song while you catch up on what's happening out there in the wider worlds. Remember: There's no such thing as a standing desk. It's a dancing desk. Aw yessss. (We may have had a little bit too much coffee this morning. That might explain our ill behavior.) — Christine and Haje Image Credits: Digitail / Ruxandra Pui (CPO) & Sebastian Gabor (CEO)

The TechCrunch Top 3 Get your woof on: With pet ownership up since the pandemic, veterinarians are being stretched to their limits. Here comes Romania-based Digitail, a company that automates the administrative work for veterinarians so they can focus on our four-legged friends. Mike reports that the company closed on $11 million in new funding to scale its operations in the U.S. and Canada. Your move: Amanda writes that proposed changes to Dungeons & Dragons' Open Gaming License threatens an entire cohort of D&D content creators, and they are fighting to protect their livelihoods. SBF starts a Substack: In an effort to explain his side of the FTX debacle, Sam Bankman-Fried took to Substack to say, "I didn't steal funds, and I certainly didn't stash billions away." Mary Ann has more.

Startups and VC The outlook of investing in China is suddenly brightening as the country gradually phases out its draconian zero-COVID policy, which has caused disruptions in businesses of all kinds and kept the country's borders shut for the last three years, Rita reports. For venture capitalists, the pandemic has been a tumultuous ride. Tony Wu, a partner at Northern Light Venture Capital, a China-focused VC firm with $4.5 billion assets under management, calls 2022 the "toughest" in his 15 years of investing in Chinese startups. Another fistful of headlines for your edification: That's a hell of a loot box, y'all: Kakao Entertainment lands $966 million from sovereign wealth funds, including Saudi Arabia's PIF, Kate reports. Irony is not dead: Career Karma's latest layoff underscores edtech's new challenge, Natasha M writes. Learning how to make the world a better place: The Logic School wants to teach tech workers activism for free, Haje writes. From merger to layoffs: The company created by the Citrix-Tibco merger confirms it has laid off 15% of its staff, Ron reports. Gimme all your A/S/L: Carly reports that The Guardian confirms ransomware attacks stole employee data.

Why Africa had no unicorns last year despite record fundraising haul Unicorns are becoming an endangered species in Africa’s startup ecosystem, reports Tage Kene-Okafor. Although funding in the region increased slightly in 2022, “no unicorns popped up throughout the year, compared to five in 2021,” he writes. “So what happened in Africa in 2022 that made it so … weird?” And there's more for our trusty TC+ subscribers: Sunny times ahead: U.S. solar manufacturing gets a $2.5 billion boost, reports Tim. What is going on with your team slide?: Haje gets grumpy in his Pitch Deck Teardown of the Mint House's $35 million Series B deck. DeFigure it out: DeFi startups need to experiment with new use cases and build solutions, investors say. Jacquelyn has more. TechCrunch+ is our membership program that helps founders and startup teams get ahead of the pack. You can sign up here. Use code "DC" for a 15% discount on an annual subscription! Read More Image Credits: Getty Images

Big Tech Inc. We started some of this yesterday, but Natasha L brings us a warning article to other ad-funded programs to take heed of Meta's ads being found unlawful in the European Union. She writes that "just because Facebook has — for years — processed and profited off of Europeans' data by running unlawful ads does not mean other ad-funded platforms are going to get the same free ride from the bloc's regulators. Enforcement is here at last." And we have five more for you: Stopping the stealing: Christine reports on Nvidia's new AI workflows to help the retail industry with loss prevention amid increased organized theft. Give your Benz the premium charging treatment: At least that's what Mercedes-Benz is hoping its electric vehicle customers will want to do. As such, Tim Stevens writes that the carmaker is creating its own charging network. Google Meets emojis: Taking a nod from Zoom, Google Meet video calls finally get emojis, Ivan reports. Cover girl: Fashion rentals marketplace Rent the Runway's clothing comes to Amazon, including preworn items and design exclusives, Sarah writes. More layoffs: Lauren writes that DirecTV plans to lay off about 10% if its management amid the ongoing shift to streaming.

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