Every day Crunch: 2 weeks after prolonged system failure, Alibaba CEO takes over firm’s cloud division


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We’re nearly there, people. It’s the final Thursday of 2022, and at present we’ve some information for you out of Alibaba and Spotify, in addition to some crypto information out of India. And as at all times, we provide you with some goodness from TC+, our premium membership program. Learn on, pricey readers, and we’ll be again once more tomorrow to convey you the ultimate moments of 2022 in tech. — HP

The TechCrunch Prime 3

  • Alibaba’s cloud transfer: Alibaba Cloud has a brand new president, Rita reviews. The third-largest public cloud infrastructure supplier on the planet solely after AWS and Microsoft has appointed Daniel Zhang, the corporate’s CEO, as performing president.
  • Ring it in with Spotify: Aisha writes that the platform desires that can assist you welcome 2023 in type with what it thinks you would possibly get pleasure from. Such playlists as “Celebration Hits,” “Ground Fillers,” “Pop Celebration” and “Rock Celebration” will usher you as much as and previous midnight. The hub additionally provides you some DJ mixes from the likes of TT the Artist, Carlita, AMÉMÉ, Coco & Breezy, &ME and Austin Millz. Get down!
  • Indian crypto regulation: Beneath its G20 presidency, India has stated it can look to prioritize the event of a framework for the worldwide regulation of unbacked crypto belongings, stablecoins and decentralized finance, writes Manish.

Startups and VC

  • Recall this: Catherine writes that Recall.ai raised $2.7 million in a seed funding spherical to assist with a unified API that works with Zoom, Google Meet and Microsoft Groups to assist clients construct apps for various use circumstances.
  • Down rounds: Mary Ann spoke with GGV’s Hans Tung and Robin Li concerning the agency’s place in a difficult enterprise setting. (Requires TC+ subscription.)

Redefining ‘founder-friendly’ capital within the post-FTX period

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Picture Credit: stockcam (opens in a brand new window) / Getty Pictures

Might the FTX debacle have been prevented if traders had taken a extra lively curiosity within the firm’s operations?

Given the chilly local weather for late-stage fundraising and widespread financial uncertainty, “it’s time for the startup neighborhood to redefine what ‘founder-friendly’ capital means and steadiness each the supply and price of that capital,” writes Blair Silverberg, co-founder and CEO of Hum Capital.

In a TC+ visitor submit, he weighs the relative advantages of lively versus passive traders, breaks down the fundamentals of debt startup financing, and shares recommendation “for founders in search of a greater steadiness of capital and exterior experience for his or her companies.”

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

Trying again and searching forward

We rounded up one of the best of our TC+ protection from the roller-coaster yr in crypto. Not sufficient? Jacquie offered us with a pair additional as a way to squeeze extra pulp out of the crypto juice:

Ron took a take a look at the non-public fairness that dominated the highest 10 enterprise M&A offers this yr. The offers totaled practically $154 billion. (Requires TC+ subscription.)

Rebecca has some concepts about what’s in retailer for the micromobility market in 2023 — after what she stated was a “tumultuous” yr.

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