5 growth lessons we learned while scaling from $2M to $3M ARR

TechCrunch+ Newsletter
TechCrunch+ logo
TechCrunch+ Roundup logo

By Walter Thompson

Friday, August 11, 2023

Welcome to TechCrunch+ Friday

Welcome to TechCrunch+ Friday image

Image Credits: Yaorusheng / Getty Images

There are a million reasons why startups fail, and there are only a few reasons why they succeed.

All successful startups share the same proof points, such as product-market fit, strong compounded growth rates and latent customer demand.

They also use tested frameworks that aren't discussed nearly as much, according to Jonathan Martinez, a growth marketer with experience at Postmates, Uber and Chime and the co-founder of Sales Kiwi.

In his latest TC+ column, Martinez shares five things he learned while scaling his company from $2 million to $3 million ARR.

“While it may seem that not much changes between each successive million, you would be surprised at the mistakes one can make in this latest stage of startup growth,” he writes.

Martinez explains in detail how they managed hiring, marketing spending, growth strategy, and other factors that helped propel the company forward during this critical phase.

“My hope is that this will help to alleviate some of the bumps experienced when scaling your own startup.”

Thanks very much for reading,

Walter Thompson
Editorial Manager, TechCrunch+

Read More

Unveiling the winning formula: How B2C fintechs conquer customer acquisition

Unveiling the winning formula: How B2C fintechs conquer customer acquisition image

Image Credits: virtualphoto / Getty Images

Customer acquisition costs are top of mind for every startup, but B2C fintechs operate in an intensely competitive environment as they try to differentiate their offerings.

To find tactics that helped companies break through, Ian Sherman, director of growth and value creation at Sagard, surveyed fintechs between seed stage and Series D to track how they managed their marketing budgets over time.

“Amid the barrage of marketing channels available, the mantra for B2C fintechs is ‘less is more,’ and our evidence-based research supports this approach,” he writes.

Read More

TechCrunch Disrupt 2023

Sponsored by TechCrunch

Come to San Francisco from September 19 - 21 to learn something new and network with other founders and investors.

Buy tickets

So your startup's runway is dwindling and fundraising is hard. What's next?

So your startup's runway is dwindling and fundraising is hard. What's next? image

Image Credits: Boris Zhitkov / Getty Images

According to Crunchbase, web3 startups raised $3.6 billion in the first half of 2023.

Given that funding is down 78% from the same period last year, Jacquelyn Melinek asked several investors about how startups should proceed — and adjust their expectations.

"If you are down to just two to three months, you're out of options," advised Kelly Brewster, CEO of bitcoin-focused accelerator Wolf.

"You should pay employees severance, [your remaining] tax bill, and shut down the company. Or, you may find yourself in a bad situation."

Read More

5 lessons robotics founders can learn from the AV industry

5 lessons robotics founders can learn from the AV industry image

Image Credits: Anton Petrus / Getty Images

Investors poured $7 billion into robotics startups last year, a 15% year-over-year increase that reflects how automation is quickly gaining ground across multiple sectors.

In a TC+ column based on his firm’s yearly State of Robotics report, Sanjay Aggarwal, a venture partner at F-Prime Capital, says robotics founders should take a page from the autonomous vehicle industry when it comes to successful use cases, M&A and unit economics.

Read More

Ask Sophie: As an immigrant to the US, how can I create and work for my own startup?

Ask Sophie: As an immigrant to the US, how can I create and work for my own startup? image

Image Credits: Bryce Durbin/TechCrunch

Dear Sophie,

I was born in India and have been living and working in the U.S. on an H-1B with my current employer for four years. I tried to apply for one of the 10,000 H-1B visa holder work permits that Canada made available in July, but I didn't get one.

I've decided to move forward and found my own startup in the U.S. What's the best way for me to be able to stay in the U.S. and legally work for my startup?

— Fledgling Founder

Read More

7 VCs explain why the creator economy still has legs

7 VCs explain why the creator economy still has legs image

Image Credits: MTStock Studio / Getty Images

“There are more creator economy startups than creators,” tweeted Banana Capital founder Turner Novak in April 2021.

In January 2023, The Information reported that funding for the sector fell 50% between 2021 and 2022, “but creator economy investors remain unfazed by what may seem like a steep decline,” reports Amanda Silberling.

For our latest investor survey, she talked to seven investors about “where the industry is headed, the rise of short-form video, the shifting role of influencer marketing, and what the launch of new platforms portends.”

  • Brian Harwitt, partner, Coventure
  • Sasha Kaletsky, co-founder and managing partner, Creator Ventures
  • Julia Maltby, principal, Flybridge
  • Josh Constine, principal investor, SignalFire
  • Katelin Holloway, founding partner, 776
  • Ali Hamed, co-founder and general partner, Crossbeam Venture Partners
  • Sima Gandhi, founder of Creative Juice; investor and advisor at G3

Read More

Beacon's latest demo day startups are a bet that the future might be multichain

Beacon's latest demo day startups are a bet that the future might be multichain image

Image Credits: v_alex / Getty Images

Jacquelyn Melinek covered the graduation of web3 accelerator Beacon’s second cohort on Wednesday, where 25 founders representing 10 companies participated.

“The startups focused on a range of crypto subsectors like infrastructure, gaming, decentralized social media and DeFi, to name a few,” she writes.

  • Cube3.AI
  • Ryu Games
  • Wasabi
  • Phaver
  • Vest
  • Side Protocol
  • Formless
  • Hopscotch
  • Octane
  • Native

Read More

Pitch Deck Teardown: ANYbotics' $50M Series B deck

Pitch Deck Teardown: ANYbotics' $50M Series B deck image

Image Credits: Anybotics

Robotics startup ANYbotics announced a $50 million Series B round in May. The company, which builds ruggedized quadrupedal robots, says it has already booked preorders worth $150 million “from gas, oil and chemical companies,” reports Haje Jan Kamps.

After redacting some customer and revenue details, ANYbotics shared its winning pitch deck with TC+:

  • Cover slide
  • Mission slide
  • Problem slide
  • Why now slide
  • State of the industry slide
  • Company history slide
  • Product slide
  • Solution slide
  • Value proposition slide
  • Traction slide [redacted]
  • Market size and market projections slide
  • Technology slide 1
  • Technology slide 2
  • Team slide
  • Competitive landscape
  • Go-to-market slide
  • Financials slide [redacted]
  • Testimonials slide [redacted]
  • Thank you slide

Read More

Read more stories on TechCrunch.com

Divider
Facebook Twitter Youtube Instagram Flipboard

View this email online in your browser

Privacy Policy | Terms of Service | Unsubscribe

© 2023 Yahoo. All rights reserved. 110 5th St, San Francisco, CA 94103

California Today: California Mourns a Wildfire Disaster in Maui

The state that has recently suffered some of the worst wildfires in American history will lend its expertise to Hawaii.
Author Headshot

By Shawn Hubler and Kevin Yamamura

It's Friday. Californians are mourning the death and destruction in Maui. Plus, Hollywood studios and striking writers plan to restart negotiations today.

Burned buildings on the waterfront in Lahaina, a mecca for visitors to western Maui.Patrick T. Fallon/Agence France-Presse — Getty Images

The first videos showed residents fleeing through walls of fire, frantically trying to escape a disaster that caught many of them off guard. Then came reports of people leaping into the Pacific Ocean as flames engulfed Lahaina, a historic seaside town on the Hawaiian island of Maui.

The scenes were reminiscent of some of California's most horrific wildfires. When the Camp fire eviscerated the town of Paradise in 2018, residents had little time to escape an inferno propelled by high winds. And during the wine country fires in 2017, some desperate people jumped into their swimming pools to escape the flames.

We won't know the full scope of the disaster in Hawaii for days. Officials are still assessing the situation and providing limited updates, each one seemingly more horrific than the last. As of Friday morning, the official death toll had risen to 55, and Gov. Josh Green of Hawaii and other officials were saying it would probably surpass the toll from the 1960 tsunami, which took 61 lives on the Big Island. The governor called the Maui fires "likely the largest natural disaster in Hawaii state history."

California has tried to learn from its wildfires. But even with decades of experience, the state braces each year for natural disasters unlike any before, as climate change takes hold.

ADVERTISEMENT

Ad

Gov. Gavin Newsom on Thursday dispatched more than a dozen search-and-rescue and emergency workers to Maui who are trained in locating survivors and in identifying remains. The interstate assistance is a reminder of how emergency preparedness varies from state to state.

"Maui has a lot of challenges that are unique to the geographic area, and that are different from what we experience in California," Brian Ferguson, a spokesman for the California Governor's Office of Emergency Services, said in an interview.

For starters, Hawaii's emergency response is not as geared for fire as it is for, say, intense rain, Ferguson noted. Tens of thousands of state and local firefighters are on constant alert in California, but Hawaii, a largely rural state, has a far smaller population and far fewer emergency medical workers.

Mutual aid and firefighting equipment is much less accessible than on the mainland, he added. "Honolulu can't just drive extra fire trucks over if Maui needs them," Ferguson said.

ADVERTISEMENT

Ad

California has learned the hard way how to warn residents when high winds are forecast during the fire season, so they can be alert and ready to evacuate. Residents have come to understand what red-flag alerts mean on breezy days. Utilities now cut off power preemptively to reduce the risk that downed lines will spark new blazes.

Getting the word out about a fire threat is more difficult in places like Maui, where communications can be spotty and the population swells with thousands of vacationing visitors. And evacuation is difficult any place there is only one major escape route.

Maui has a special place in the hearts of many Californians. Some visit their relatives on the island each year. Others consider Maui, a five-hour flight away, to be their favorite tourist destination, and go there for honeymoons, anniversaries and family reunions.

Now, some will go there to help residents recover.

For more:

ADVERTISEMENT

Ad

Enjoy all of The New York Times in one subscription — the original reporting and analysis, plus puzzles from Games, recipes from Cooking, product reviews from Wirecutter and sports journalism from The Athletic. Experience it all with a New York Times All Access subscription.

The alliance bargaining on behalf of Hollywood studios asked for formal negotiations to restart.Mark Abramson for The New York Times

The rest of the news

  • As the screenwriters' strike passed 100 days, the union and the studios are scheduled to hold a formal meeting Friday to restart negotiations.
  • Governor Newsom, citing the need to protect public safety before California has another wet winter, signed an executive order that provides for repairs to levees while sidestepping environmental protection regulations, The Los Angeles Times reports.
  • A surge of nearly $15 billion in state and federal funding will allow California school districts to provide freshly made, healthy meals to students, CalMatters reports.

Southern California

  • A Los Angeles city attorney announced that no criminal charges would be filed in an altercation last year between City Councilman Kevin de León and an activist, The Los Angeles Times reports.

Central California

  • Avian botulism was detected in two bird carcasses collected from Tulare Lake, The Fresno Bee reports.

Northern California

A collection of extinct 19th-century French moths at the Museum of Jurassic Technology.Adam Amengual for The New York Times

Where we're traveling

Today's tip comes from Kim Bassett, who recommends one of the coolest museums in Los Angeles:

"While I was hunting for museums during a recent Los Angeles visit, a serendipitous Google search surfaced the Museum of Jurassic Technology. After the blockbuster La Brea Tar Pits and the Academy Museum of Motion Pictures, a visit to the Jurassic felt like an art house animation excavated from a forgotten genius's attic. It is small, closely curated and indescribably singular, a cocktail of the unbelievably true and playfully suspicious.

We took in a survey of early animal-based folk remedies and a homage to the dogs of the early Soviet space program. The museum's curios and narratives weave a deliberate tension between awe and amazement, knowing and doubting. Even the 'Jurassic' in its name doesn't refer to a time period or a (real) place; rather, it seems a state of credulous wonder. While Los Angeles's other museums were fascinating, the M.J.T. was undoubtedly the most wondrous."

Tell us about your favorite places to visit in California. Email your suggestions to CAtoday@nytimes.com. We'll be sharing more in upcoming editions of the newsletter.

Tell us

A number of Los Angeles landmarks are turning 100 this year, including the Hollywood sign, the Los Angeles Memorial Coliseum and the Biltmore Hotel in downtown.

Do you have any favorite memories of these institutions? Email a few sentences to CAtoday@nytimes.com, and please include your name and the city where you live.

The swing at Bernal Heights in San Francisco.Jeff Chiu/Associated Press

And before you go, some good news

See a concert at a converted mortuary, do yoga in a gothic cathedral and ride the longest elevator west of the Mississippi.

These are some of the 23 best things to do in San Francisco in 2023, according to The San Francisco Chronicle.

Thanks for reading. We'll be back on Monday. Enjoy your weekend.

Soumya Karlamangla, Briana Scalia and Bernard Mokam contributed to California Today. You can reach the team at CAtoday@nytimes.com.

Need help? Review our newsletter help page or contact us for assistance.

You received this email because you signed up for California Today from The New York Times.

To stop receiving California Today, unsubscribe. To opt out of other promotional emails from The Times, including those regarding The Athletic, manage your email settings. To opt out of updates and offers sent from The Athletic, submit a request.

Subscribe to The Times

Connect with us on:

facebooktwitterinstagram

Change Your EmailPrivacy PolicyContact UsCalifornia Notices

LiveIntent LogoAdChoices Logo

The New York Times Company. 620 Eighth Avenue New York, NY 10018