Nigeria’s Pinnick sees Patrice Motsepe getting 40 votes in Caf presidency race – TimesLIVE

Nigeria’s Pinnick sees Patrice Motsepe getting 40 votes in Caf presidency race  TimesLIVE
“nigeria startups when:7d” – Google News

Crypto company Anchorage raises $80 million after getting federal banking charter

Anchorage has raised an $ 80 million Series C funding round led by GIC, also known as Singapore’s sovereign wealth fund. Andreessen Horowitz, Blockchain Capital, Lux and Indico are also participating in today’s funding round.

The thinking behind this funding round is quite simple. Some companies, such as Tesla or Square, have recently chosen to invest in cryptocurrencies. They’re converting a small portion of their cash balance into cryptocurrencies. Some investors choose to invest in companies that help you add cryptocurrencies to your cash balance — Anchorage is one of them.

The startup originally offered a custody solution. It lets you keep your cryptocurrencies safe for you so that you don’t have to take care of the wallets and their public and private keys. But more recently, Anchorage received a federal banking charter, turning it into a digital asset bank.

Getting a thumbs-up sign from regulators should definitely help when it comes to confidence. Institutional investors are looking for trusty crypto partners to dip their toes into the crypto waters.

In addition to custody, Anchorage now offers several financial products, such as staking, crypto lending, etc. In other words, it wants to become a one-stop shop for institutional investors.

Interestingly, Anchorage also wants to become a crypto-banking-as-a-service startup. The startup thinks it could become the preferred crypto partner for both challenger banks and traditional banks.

Startups – TechCrunch

Getting Users for a New Platform with Little Content

For one who is creating a social network platform for users to engage with one another, what is the best first step to acquiring users when there is little to no content?

I have seen people give access to individuals for beta testing, and thought this may be a good way to initially release it as the users understand why there is little content.

Another potential way to do this, possibly in coordination with an access-by-request beta test would be to have developers post content on the platform before any other users are on it.

What are other possible ways to ensure users are retained when visiting a new platform?

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Startups – Rapid Growth and Innovation is in Our Very Nature!

The current narrative explaining why tech stocks are getting hammered

This morning the tech-heavy Nasdaq Composite index is off 2.34% after falling yesterday. Shares of Tesla are off more than 6% today, now mired in a bear-market correction after reaching new all-time highs earlier this year. Apple stock is worth $ 122.02 per share, down from its recent highs of more than $ 145.

After a long period of time when it felt like tech stocks only went up, the recent correction is starting to feel material.

There are other ways to measure the selloff. Bessemer’s cloud index is off 4.5% today, after falling over 5% yesterday. And the now-infamous $ ARKK, or ARK Innovation ETF that many investors have used as a proxy for growthy tech stocks, is off 6.6% today after falling 5.9% yesterday.

Hell, even bitcoin has taken a pounding in the last few days, after its recent, relentless rise.

What’s driving the rapid turnaround in the value of tech companies, tech-focused indices and tech-adjacents, like cryptocurrencies? Not merely one thing, of course, in an environment as complex as the world’s capital markets. But there is a rising narrative that you should consider.

Namely that the money-is-cheap-and-bond-yield-is-garbage-so-everyone-is-putting-money-into-stocks trade is losing steam. As some yields rise, bonds are become more attractive bets. And as COVID-19 vaccines roll out, some investors are pushing their stock-market bets into categories other than tech.

The result is that the landscape of value is shifting; the winds that were at the back of every tech company are receding, at least for now. If the changed weather persists until the very investment climate that tech stocks exist in reaches a new equilibrium, we could see the appetite for tech IPOs lessen, late-stage private valuations for startup shares dip, and more.

Here’s CNBC from earlier today on what’s changing:

Stocks dropped again on Tuesday as tech shares continued to tumble in the face of higher interest rates and a rotation into stocks more linked to the economic comeback.

Here’s The Wall Street Journal on the same theme, from yesterday:

The lift in yields largely reflects investor expectations of a strong economic recovery. However, the collateral damage could include higher borrowing costs for businesses, more options for investors who had seen few alternatives to stocks and less favorable valuation models for some hot technology shares, investors and analysts said.

And here’s Barrons from this morning, noting that what we’re seeing at home is not merely a U.S. issue:

While members of the NYSE FANG+ index including Tesla, Facebook and Apple have dropped sharply as the yield on the 10-year Treasury has climbed, the sector also is on the retreat overseas.

The market could snap back. Or not. It’s worth watching stocks for the next few days.

Startups – TechCrunch

How do you approach marketing and getting your first customers?

So I’ve just started a business, website, services all in place however I’m a little lost on how to get the name out there. I’ve messaged some potential businesses that could use the service but no response yet. So I’m wondering, how did you take this step and how many people did you receive no response from until there was a reply?

It’s saas product with a subscription based model

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Startups – Rapid Growth and Innovation is in Our Very Nature!

With software markets getting bigger, will more VCs bet on competing startups?

This morning I covered three funding rounds. One dealt with the no-code/low-code space, another focused on the OKR software market and the last dealt with a company in the consumer investing space. Worth a combined $ 420 million, the investments made for a contentedly busy morning.

But they also got me thinking about startup niches and competition. Back in the days when inside rounds were bad, SPACs were jokes and crypto a fever dream, there was lots of noise about investors who declined to place competing bets in any particular startup market.

The Exchange explores startups, markets and money. Read it every morning on Extra Crunch, or get The Exchange newsletter every Saturday.

This rule of thumb still holds up today, but we need to update it. The general sentiment that investors shouldn’t back competing companies is still on display, as we saw Sequoia walk away from a check it put into Finix after it became clear that the smaller company was too competitive with Stripe, another portfolio company.

But as startups get more broad and stay private longer, the space into which VCs can invest may narrow — especially if they have a big winner that stays private while building both horizontally and vertically (like Stripe, for example).

Does that mean Sequoia can’t invest elsewhere in fintech? No, but it does limit their investing playing field.

Which is dumb as hell. Nothing that Sequoia could invest in today is really going to slow Stripe’s IPO, unless the company decides to not go public for a half-decade. Which would be lunacy, even for today’s live-at-home-with-the-parents startup culture that leans toward staying private over going public.

Startups – TechCrunch

How do you actually even begin getting in contact with big companies?

For example if I want to attempt to pitch an idea to a big game franchise like a gaming company, with a very specific game in mind.

How on earth do you begin to track down and try to approach the right people, who even are the right people etc

So for example a game called rocket league, I know there is a team of developers who make it etc but there are multiple companies within that and I’d have no idea where to start!

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Startups – Rapid Growth and Innovation is in Our Very Nature!

Getting restaurants to use your app?

My business is launching a delivery platform app for restaurants with a focus on offering lower commission rates (in the 10-20% range) than other apps. We're brainstorming ways to get restaurants to sign up and use (or at least test) the platform. The Contact Us form on restaurant websites hasn't worked out as we hoped, so does anyone know another method that could work?

Thanks in advance!

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Startups – Rapid Growth and Innovation is in Our Very Nature!