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Helbiz reports revenue increase but dwindling cash reserves

TechCrunch

The company reported its second-quarter earnings Monday after the bell. The startup was the first scooter operator to go public via the SPAC route , and many in the industry wish it wasn’t so after consistently meh earnings reports. Helbiz reported around 1.2 Before we dig into the financials, a little context.

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Forbes jumps into hot media liquidity summer with a SPAC combo

TechCrunch

Forbes reports that it will sport “an implied pro forma enterprise value of $630 million, net of tax benefits,” after its completion. The company will sport an equity valuation of $830 million after the deal closes, per its own calculations.

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Porsche joins $400M bet on lithium-silicon batteries to juice up future EVs

TechCrunch

With its first electric vehicle now outselling the quintessential 911 sports car, the German automaker is responding by upping its bet on EVs, in part via a hefty investment in lithium-silicon battery developer Group14 Technologies. Porsche has read the room. Group14 appears to be targeting production for Porsche battery packs in 2024.

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Daily Crunch: Hackers pinched LastPass customers’ encrypted password vaults, parent company admits

TechCrunch

If you like the great outdoors : Strava, the activity tracking and social community platform, acquired Fatmap, a 3D mapping platform for the great outdoors, to make that next hike a doozy, Paul reports. At least, that’s Connie ’s read of a new report, in her excellent article Opportunistic investors are giving up on aging pre-IPO companies.

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It turns out fintech is worth as much as SaaS

TechCrunch

At $43 per share, Remitly is valued less like a fintech company with gross margins in the 50% to 60% range and more like a middle-tier public SaaS firm, flush with recurring revenues and net-dollar retention north of 100%. In the second quarter of 2021, Toast reported revenues of $424.7 Fintech is the new SaaS?

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Draymond Green isn’t starting a fund, but is working with top VCs

TechCrunch

Green’s more recent investments span self-filtering water bottle brand LARQ and LeBron James’ company, Uninterrupted, a multimedia platform for athletes and general sports content. As of June, Green had a reported net worth of $50 million.

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Ivorian fintech Julaya gets $5M to become banking partner for businesses in Francophone Africa

TechCrunch

In 2019, West Africa reported the most live mobile money services in any region, with 56 million active accounts. A striking observation from the news was the number of athletes involved as the firm’s limited partners; some have also made direct investments from various reports.

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