Each day Crunch: In its second markdown in 4 months, Invesco slashes Swiggy’s valuation to $5.5B

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The TechCrunch Prime 3

• Price cut in aisle five: Invesco cuts Indian meals supply large Swiggy’s valuation to $5.5 billion. In October, the valuation was cut to $8 billion. Manish writes, “The current valuation reductions convey a recent perspective to the results of waning world market circumstances on Indian startups”; the place funding was down, valuations didn’t comply with.
• Bet paid off: Qualcomm acquires Autotalks, reportedly for $350 million to $400 million, to spice up Snapdragon’s automotive security know-how. Ingrid writes that this deal didn’t come as a lot of a shock, noting, “On this planet of superior automotive know-how, security has turn out to be probably the most essential points, but additionally probably the most profitable alternatives, within the constructing of autonomous and driver-assisted methods.”
• Don’t blink or you’ll miss it: Ingrid additionally wrote about Go1, which acquired Blinkist, a velocity studying app, with plans to broaden enterprise studying.

Startups and VC

When my husband and I purchased our first home, we had been wanting to see builders break floor and get it constructed. Months later, we had been nonetheless ready in what the builder mentioned was a municipality holdup — aka, permits weren’t being issued quick sufficient. After reporting on PermitFlow’s new $5.5 million round, I now know why this can be a downside.

In the meantime, Natasha M spoke to Mayfield’s Navin Chaddha concerning the VC firm’s new $955 million fund, writing that now that the agency is larger — and busier— “the capital can be used to ramp up the agency’s funding cadence in a extra real looking market. Chaddha additionally admits that Mayfield has missed out on a whole lot of alternatives due to excessive valuations, however that he’s okay with it.”

Now right here’s 4 extra for you:

NFX’s James Currier: The place unicorn concepts come from and why founders ‘must maintain pivoting’

Are you a seed-stage founder who’s constructing a unicorn?

NFX founding associate James Currier wish to prevent a while: Startups that develop into billion-dollar corporations have three primary types of defensibility:

• Community results: Your product turns into extra invaluable as extra folks use it.
• Embedding: Combine your providers so deeply, prospects “can not rip them out.”
• Knowledge loops: Collect, course of and act on real-time information.

“That is actually solely speaking about world-changing, big-ass companies with a whole lot of influence that may very well be a billion {dollars} or extra in worth,” he mentioned at TechCrunch Early Stage final month.

Three extra from the TC+ group:

TechCrunch+ is our membership program that helps founders and startup groups get forward of the pack. You can sign up here. Use code “DC” for a 15% low cost on an annual subscription!

Massive Tech Inc.

Hey, Twitter customers, your follower depend is about to drop, in keeping with Elon Musk. Sarah experiences that Twitter will purge old accounts that haven’t tweeted shortly. The excellent news is that you simply may have the ability to get a greater username, relying on which account it’s. Completely happy searching! Additionally in fowl information, Ivan writes that the social media large is discussing a cheaper organizational verification plan.

We liked Connie’s story over the weekend a few New York Instances reporter’s shut encounters with Elizabeth Holmes, who, left to her own devices, apparently can nonetheless suck folks in.

And right here’s 4 extra for you:

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