France to Block Wish E-Commerce Platform - Daily Crunch
Daily Crunch: November 24, 2021
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A Brief Note & Holiday Schedule
Greetings, and welcome to the Daily Crunch for November 24th, 2021. Please be aware that this newsletter will not be published tomorrow.
However, a special holiday edition is planned for Friday. We are utilizing this brief period to rest and rejuvenate.
Regular service will resume on Monday, ensuring you remain fully informed.
— Alex
TechCrunch's Leading Three Stories
This report highlights three key developments covered recently by TechCrunch, focusing on the evolving tech landscape and emerging trends.
Canadian AI Growth
TechCrunch’s ongoing analysis of the fast-paced AI investment sector has turned attention to the Canadian artificial intelligence startup scene.
The Canadian AI industry is demonstrating significant activity, exceeding many expectations.
This underscores the increasingly worldwide nature of the startup ecosystem.
France's Action Against Wish
In a unique approach, France evaluated concerns regarding the e-commerce platform Wish by directly purchasing products and assessing their quality.
The investigation revealed numerous issues and violations.
Consequently, France has requested that search engines and app stores remove Wish from their listings.
Attio Challenges Salesforce
Despite the competitive nature of the startup world, some software markets have historically appeared impenetrable.
The CRM (Customer Relationship Management) market is now facing disruption, with Attio leading the charge.
Having secured $7.7 million in funding, Attio is directly competing with established players like Salesforce.
This represents a new wave of competition in a traditionally dominant sector.
Startups/VC
Asilimia is focused on expanding access to credit within Kenya. The provision of loans to individuals and businesses underserved by conventional banking institutions represents a significant market opportunity.
Recently, Asilimia secured $2 million in funding, comprised of both debt and equity, to facilitate continued lending operations within its Kenyan market.
According to TechCrunch, the company’s Leja app provides a valuable service to Kenyan traders. It enables mobile money transactions without incurring transfer fees.
Fintech Infrastructure
OnePipe has raised $3.5 million to advance its fintech API business. Similar to Plaid’s role in the US, OnePipe is developing crucial infrastructure for the African fintech ecosystem.
The new funding will be used to further develop and expand the availability of its fintech infrastructure APIs across Africa.
The Surging Used Car Market
The used car market is currently experiencing unprecedented volatility. A global chip shortage has significantly increased the prices of used vehicles.
Indian startup Spinny has achieved unicorn status following a new $280 million funding round. This demonstrates the substantial investment interest in this sector.
Spinny operates in a market with established parallels in the US, including publicly traded companies. Its financial performance will be closely watched.
Apparel for a Changing Climate
Vollebak specializes in creating durable clothing designed for extreme weather conditions. Their products cater to individuals preparing for the potential impacts of climate change.
The startup has recently completed a Series A funding round. This suggests a potential path towards a public market debut, mirroring the success of companies like Allbirds.
Startup Naming Considerations
Juicy Marbles is a company developing plant-based meat alternatives. They aim to replicate the texture and experience of traditional whole meat cuts.
While the company’s mission is commendable, the name “Juicy Marbles” has sparked some debate. The term “marbling” typically refers to fat content in meat, and the name may not resonate with all consumers.
Despite the unconventional name, the company’s focus on creating high-quality, plant-based meat products is a positive development.
Inquiry Regarding International Entrepreneur Parole Processing Times
Image Credits: Bryce Durbin/TechCrunchDear Sophie,
Our founding team is currently evaluating the potential benefits of applying for International Entrepreneur Parole (IEP).
We are seeking information regarding the typical timeframe for IEP approval.
Furthermore, we would like to understand how this timeline compares to alternative pathways available to startup founders.
Finally, could you clarify whether spousal employment is permitted while an IEP application is pending?
— Dedicated COO
(Access to exclusive insights and resources for founders and startup teams is available through TechCrunch+. Registration can be completed here.)
Understanding IEP Approval Timelines
The processing duration for International Entrepreneur Parole can vary considerably.
Currently, it generally takes between 8 to 12 months to receive a decision on an IEP application.
However, this is an estimate, and actual processing times are subject to change based on USCIS workload and case complexity.
Comparison with Other Startup Visa Options
Several visa options exist for startup founders, each with its own processing timeline.
The E-2 Treaty Investor visa, for example, often has a faster processing time, typically ranging from 3 to 6 months.
However, the E-2 requires a substantial investment and is limited to citizens of treaty countries.
The H-1B visa, while popular, is subject to an annual lottery and can take several months to process if selected.
Here's a brief comparison:
- IEP: 8-12 months (estimated)
- E-2: 3-6 months (requires treaty country citizenship and significant investment)
- H-1B: Several months (if selected in the lottery)
Spousal Employment Authorization
A significant benefit of International Entrepreneur Parole is the potential for spousal employment.
Spouses of IEP applicants are eligible to apply for an Employment Authorization Document (EAD).
This EAD allows the spouse to legally work in the United States while the IEP application is being processed.
The processing time for an EAD is typically several months, and it is filed concurrently with the I-512 application.
Big Tech Inc.
Recent developments indicate that leading Buy Now, Pay Later (BNPL) companies are diversifying their services beyond traditional BNPL offerings.
Klarna's recent move towards facilitating upfront payments may have appeared unexpected, but it signals a broader trend within the industry.
Expanding Service Portfolios
Following this pattern, TechCrunch has reported that Afterpay is now venturing into the realm of installment subscriptions.
This expansion suggests a strategic shift for these companies, aiming to capture a wider segment of the consumer payment market.
Twitter's Mobile App Update
Users of the Twitter mobile application have experienced intermittent issues with tweets disappearing from their timelines.
This frustrating problem, where tweets would vanish unexpectedly, has now been addressed by the company.
The fix was initially implemented on the web version of Twitter and is currently being rolled out to the mobile app.
This update should improve the user experience and prevent the loss of valuable content within the Twitter feed.
Users can now expect a more stable and reliable viewing experience on their mobile devices.
TechCrunch Seeks Growth Marketing Professionals
TechCrunch is currently soliciting recommendations for accomplished growth marketers. Expertise in areas such as SEO, social media marketing, and content creation is highly valued.
Request for Recommendations
The publication invites suggestions of growth marketers who demonstrate a proven track record of success. If you are a growth marketer yourself, please share this survey with your clientele.
TechCrunch is interested in gathering feedback directly from clients regarding their positive experiences with these professionals. The goal is to understand the specific reasons clients appreciate their collaboration.
Survey Participation
Clients are encouraged to complete the survey to articulate why they found working with their growth marketer beneficial. This input will help TechCrunch identify and highlight top talent in the field.
The survey focuses on understanding the value provided by growth marketers in driving business outcomes. Areas of focus include SEO performance, social media engagement, and the quality of content produced.
This initiative aims to connect businesses with effective growth marketing partners. By collecting client testimonials, TechCrunch hopes to provide valuable insights to those seeking marketing expertise.
