Daily Crunch: In its second markdown in 4 months, Invesco slashes Swiggy\u2019s valuation to $5.5B - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2023\/05\/09\/daily-crunch-in-its-second-markdown-in-4-months-invesco-slashes-swiggys-valuation-to-5-5b\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Daily Crunch: In its second markdown in 4 months, Invesco slashes Swiggy\u2019s valuation to $5.5B - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source:https:\/\/techcrunch.com\/2023\/05\/08\/daily-crunch-114\/ Daily Crunch: In its second markdown in 4 months, Invesco slashes Swiggy\u2019s valuation to $5.5B 2023-05-09 22:25:49 To get a roundup of TechCrunch\u2019s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. 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To get a roundup of TechCrunch\u2019s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, <\/em>subscribe here<\/em><\/a>.<\/em><\/p>\n

Hello, and welcome to a new week. Haje<\/a> is off today, so it\u2019s just me and you going through the day\u2019s biggest stories. Let\u2019s hit it! \u2014 Christine<\/a><\/p>\n

The TechCrunch Top 3<\/h2>\n
\n
Price cut in aisle five<\/strong><\/a>: Invesco cuts Indian food delivery giant Swiggy\u2019s valuation to $5.5 billion. In October, the valuation was cut to $8 billion<\/a>. Manish<\/a> writes, \u201cThe recent valuation reductions bring a fresh perspective to the effects of waning global market conditions on Indian startups\u201d; where funding was down, valuations didn\u2019t follow.<\/li>\n
Bet paid off<\/strong><\/a>: Qualcomm acquires Autotalks, reportedly for $350 million to $400 million, to boost Snapdragon\u2019s automotive safety technology. Ingrid<\/a> writes that this deal didn\u2019t come as much of a surprise, noting, \u201cIn the world of advanced automotive technology, safety has become one of the most important issues, but also one of the most lucrative opportunities, in the building of autonomous and driver-assisted systems.\u201d<\/li>\n
Don\u2019t blink or you\u2019ll miss it<\/strong><\/a>: Ingrid<\/a> also wrote about Go1, which acquired Blinkist, a speed reading app, with plans to expand enterprise learning.<\/li>\n<\/ul>\n
Startups and VC<\/h2>\n
When my husband and I bought our first house, we were eager to see builders break ground and get it built. Months later, we were still waiting in what the builder said was a municipality holdup \u2014 aka, permits weren\u2019t being issued fast enough. After reporting on PermitFlow\u2019s new $5.5 million round<\/a>, I now know why this is a problem.<\/p>\n
Meanwhile, Natasha M<\/a> spoke to Mayfield\u2019s Navin Chaddha about the VC firm\u2019s new $955 million fund<\/a>, writing that now that the firm is bigger \u2014 and busier\u2014 \u201cthe capital will be used to ramp up the firm\u2019s investment cadence in a more realistic market. Chaddha also admits that Mayfield has missed out on a lot of opportunities because of high valuations, but that he\u2019s okay with it.\u201d<\/p>\n
Now here\u2019s four more for you:<\/p>\n
NFX\u2019s James Currier: Where unicorn ideas come from and why founders \u2018have to keep pivoting\u2019<\/h2>\n
$James Currier, GP at NfX talks about \"Where Unicorn Ideas Come From\" at TechCrunch Early Stage in Boston on April 20, 2023. Image Credit: Haje Kamps \/ TechCrunch$ <\/p>\n
Image Credits:<\/strong> Haje Kamps \/ TechCrunch<\/p>\n<\/div>\n
Are you a seed-stage founder who\u2019s building a unicorn?<\/p>\n
NFX founding partner James Currier would like to save you some time: Startups that grow into billion-dollar companies have three basic forms of defensibility:<\/p>\n
\n
Network effects: Your product becomes more valuable as more people use it.<\/li>\n
Embedding: Integrate your services so deeply, customers \u201ccannot rip them out.\u201d<\/li>\n
Data loops: Gather, process and act on real-time data.<\/li>\n<\/ul>\n
\u201cThis is really only talking about world-changing, big-ass businesses with a lot of impact that could be a billion dollars or more in value,\u201d he said at TechCrunch Early Stage last month.<\/p>\n
Three more from the TC+ team:<\/p>\n
TechCrunch+<\/em><\/a> is our membership program that helps founders and startup teams get ahead of the pack.<\/em> You can sign up here<\/em><\/a>. Use code \u201cDC\u201d for a 15% discount on an annual subscription!<\/em><\/p>\n
Big Tech Inc.<\/h2>\nHey, Twitter users, your follower count is about to drop, according to Elon Musk. Sarah<\/a> reports that Twitter will purge old accounts<\/a> that haven\u2019t tweeted in a while. The good news is that you might be able to get a better username, depending on which account it is. Happy hunting! Also in bird news, Ivan<\/a> writes that the social media giant is discussing a cheaper organizational verification plan<\/a>.<\/p>\n
We loved Connie<\/a>\u2019s story over the weekend about a New York Times reporter\u2019s close encounters with Elizabeth Holmes, who, left to her own devices<\/a>, apparently can still suck people in.<\/p>\n
And here\u2019s four more for you:<\/p>\n
\n
Get your TechCrunch fix IRL. Join us at Disrupt 2023 in San Francisco this September to immerse yourself in all things startup. From headline interviews to intimate roundtables to a jam-packed startup expo floor, there\u2019s something for everyone at Disrupt. Save up to $800 when you buy your pass now through May 15, and save 15% on top of that with promo code DC. Learn more<\/a>.<\/em><\/p>\n
$\"\"$ <\/p>\n<\/p><\/div>\n
<\/br><\/br><\/br><\/p>\n
Science, Tech, Technology<\/br>
\n<\/br>
\nSource:https:\/\/techcrunch.com\/2023\/05\/08\/daily-crunch-114\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"
Source:https:\/\/techcrunch.com\/2023\/05\/08\/daily-crunch-114\/ Daily Crunch: In its second markdown in 4 months, Invesco slashes Swiggy\u2019s valuation to $5.5B 2023-05-09 22:25:49 To get a roundup of TechCrunch\u2019s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. Hello, and welcome to a new week. Haje is off today, so it\u2019s just […]<\/p>\n","protected":false},"author":1,"featured_media":31514,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,17,8],"tags":[],"class_list":["post-31513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","category-tech","category-technology"],"yoast_head":"\nDaily Crunch: In its second markdown in 4 months, Invesco slashes Swiggy\u2019s valuation to $5.5B - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2023\/05\/09\/daily-crunch-in-its-second-markdown-in-4-months-invesco-slashes-swiggys-valuation-to-5-5b\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Daily Crunch: In its second markdown in 4 months, Invesco slashes Swiggy\u2019s valuation to $5.5B - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source:https:\/\/techcrunch.com\/2023\/05\/08\/daily-crunch-114\/ Daily Crunch: In its second markdown in 4 months, Invesco slashes Swiggy\u2019s valuation to $5.5B 2023-05-09 22:25:49 To get a roundup of TechCrunch\u2019s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. 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