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Hello and welcome to Daily Crunch for Thursday, December 16! A small note that Greg is taking over this newsletter tomorrow, as I am burning through a spare personal day that I had to use or lose. From the TechCrunch side of things, it’s a great day to check out all our Totally Awesome newsletters. Tap into our reporting and thinking! For free! —Alex
P.S. This gift guide is a godsend for anyone on a budget!
The TechCrunch Top 3
- Byju’s could go public via SPAC: In the wake of Grab’s mega-SPAC deal, Indian edtech giant Byju’s could be prepping to take a similar path to the U.S. public markets, TechCrunch reports. Our own Manish Singh notes that Byju’s is “seeking a valuation of over $45 billion and looking to raise as much as $4 billion” in the transaction.
- Reddit files to go public: Speaking of mega-public offerings for early 2022, Reddit announced today that it filed to go public. The social company’s filing is still private, but TechCrunch has questions, y’all. It’s a tossup regarding which dataset we’re more excited about between Byju’s and Reddit, but the start of next year is looking busy. Already.
- Tech’s collective lobbying group falls apart: The Internet Association is winding down, TechCrunch reports. The lobbying group once represented a diverse set of tech companies, which was perhaps its downfall. Given that its members don’t agree on all matters, the shattering is not a surprise in retrospect. And considering how much tech regulation could land in the next few years, what rises in the void left by the Internet Association will be fascinating.
As we did yesterday, we’re taking a deeper look at a few key startup stories today, and then running through a host of smaller items so that we can get as much of our reporting into the newsletter as possible!
- You can’t kill Cockroach Labs: Not that anyone was trying — that’s just the wittiest riff we could come up with to introduce our reporting that the database company just raised a bunch of new capital at a $5 billion valuation. That’s up from $2 billion earlier this year. Our own Ron Miller writes that Cockroach “has 200 paying customers, with the cloud side of the business growing at 500% over the last year and ARR tripling YoY from Q3 to Q3.” We want hard numbers, but those are at least directionally interesting.
- Gopuff is raising $1.5B, could go public next year: Circling back to 2022 IPOs, quick delivery company Gopuff is working to raise around $1.5 billion in convertible debt at a roughly $40 billion valuation. And, our own Ingrid Lunden reports, the SoftBank-backed company could go public next year. If it …….