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Happy Saturday everyone. I do hope you are refreshed and healthy. I am learning to play na, which has become a requirement in my life, because I realize that the news cycle will never slow down. And because my partner and I adopted a third dog who likes to get up early, please take a nap for the adults with me so that we can rest during the summer vaccination. Coming.
On the topic of work, I have a few things to touch on all the important data points today: M&A data for the first quarter of 2021
First of all, Dan Primack shared some data points from the early first quarter that I want to pass through Refinitiv. According to data from this financial data company, global M&A activity reached US$1.3 trillion in the first quarter of 2021, an increase of 93% over the first quarter of 2020. US M&A activity also hit a record high in the first quarter. Why should we care? Because the data helps to emphasize the heat of the last three months.
I expect this quarter’s venture capital data itself will be equally impressive. But as everyone noticed this week, since the beginning of the second quarter, there have been some cracks in the IPO market, which may make the second quarter of 2021 a completely different beast. This is not to say that the venture capital world will slow down, especially considering that Tiger has just received a $6.7 billion capital injection.
On the subject of venture capital, Briter Bridges, a data company focused on Africa, reported: “In March alone, more than $280 million were deployed to technology companies operating in Africa,” partly because “Flutterwave is valued at up to $1 billion Received $170 million in financing.”
The data point is important because it marks the most active March on the African continent in venture capital terms since at least 2017-I think this is the history. African start-ups tend to raise more funds in the second half of the year, so the results in March did not hit a record high in a single month. But all of this is bullish and helps satisfy our common belief that the venture capital performance in the first quarter may be large.
Finally, Rex Woodbury of Index Ventures tweeted some Edison data that “80 million Americans (28% of the U.S. population over 12) are weekly podcast listeners each week, an increase of 17% year-on-year.” The venture capitalist went on to add: “62% of the U.S. population over 12 years old (about 176 million people) are weekly online audio listeners.”
As we discussed on Equity this week, given that Clubhouse has become a breakthrough consumer social company in recent months, many of the company’s participants are betting on the non-music streaming audio market. These data points are the basis for betting by people like Discord and Spotify. People like to listen to other people’s conversations. As the first person in music, it’s much more than I thought.
It’s great to go back to the era of neat consumer investment. B2B is great, but not everything can become enterprise SaaS. (However, it’s worth noting that Clubhouse seems to be trying to maintain its hype.)
Looks like I can’t keep up with all the damn venture capital
The early stage of TechCrunch was this week, and it went quite smoothly. However, hosting a game to help me does mean that there are fewer games this week than I hoped. Therefore, if I have free time, I will enter the following two things:
- Striim’s $50 million Series C round of Goldman Sachs led the investment. Striim, which I think is voice streaming, is a software startup that helps other companies move data in their cloud and local settings in real time. Considering the level of activity in the data market today, do I think Striim’s TAM is deep? Fast flow? You can provide a better stream-centric word in your free time.
- Kudo’s US$21 million Series A financing. Last July, when I raised $6 million, I reported on Kudo. The company provides video chat and conference services, and supports real-time translation. As you can imagine, it has a good COVID era. Felicis leads the A after participating in the seed round. I will see if I can extract some new growth indicators from the company next week. One worth seeing.
And you may have missed the other two rounds, you shouldn’t round. Holler raised $36 million in Series B financing.[y]You may not know what conversational media is, but you are most likely to use Holler’s technology. For example, if you add a tag or GIF to a Venmo payment, Holler is actually responsible for managing the app’s search and suggestion experience around that media. “
I feel old
If you don’t pay enough attention to technology in Latin America, then this $150 million Uruguay Round should help you straightforwardly.
Finally this week, some good news came out. If you have been reading “The Exchange” for a while, then you have to read my article on Bessemer Cloud Index, which is a basket of public software companies that I value very much. There is now a new index on the market.
Meet Lux Health + Technology Index. Per Lux Capital said, “This is an index of 57 listed companies, and they best represent the rapidly emerging Health + Tech investment theme.” Of course, similar to the Bessemer series, the brand is to a certain extent related to the focus of supporting venture capital companies. . However, the new Lux index (like the Bessemer series) will track how a particular venture capital company itself tracks public quotes for its portfolio.
This is a useful thing. Please more.