When VCs fund the thing you didn't think they'd ever fund

Sep 23, 2022

The discussion kicks off with a look at recent funding rounds, highlighting interesting startups like Polywork and Block Party. The insurtech sector receives attention, showcasing niche markets proving to be profitable. Instacart's IPO journey and the fierce competition in food delivery are explored, especially against players like Doordash. The grim topic of layoffs is tackled, but a silver lining emerges as hosts emphasize the importance of transparency in leadership during tough times.

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INSIGHT

Ethereum Merge Impact

Ethereum's "merge" was a significant technical change, but it didn't change much for the average user.
Gas fees and other user-facing aspects remained largely unaffected, leading to a price drop.

ANECDOTE

Polywork's Funding and Mission

Polywork, a LinkedIn competitor, raised $28M to help people express multifaceted work personas.
It aims to facilitate collaboration and connect individuals beyond traditional full-time roles.

INSIGHT

Block Party's Funding and Focus

Block Party, co-founded by well-known tech personality Tracy Chou, secured $4.8 million in seed funding.
The platform offers advanced blocking tools, moving beyond basic block lists and Twitter's policies, with premium and enterprise options.

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Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines.

Coming to hang with us at Disrupt, where Equity is kicking off the entire event? Use code 'EQUITY' to save 15% on your tickets. Hell yeah, and see you there!

Alex, Natasha and Mary Ann jumped on the mic, with Theresa running production, to talk through the biggest headlines from the week!

Deals of the Week! This time 'round we had Polywork raising $28 million, Block Party raising $4.8 million, and Remofirst and its own recent fundraise. Naturally we had to leave 234 deals on the cutting room floor, but these were the ones we could not wait to chat more about. Also, don't Polywork, Block Party and Remofirst sound like fun people to get dinner with? Just us?
Insurtech goes Niche: From there it was time to riff on a series of stories from Mary Ann, focused on specialized insurtech companies, and the fact that Pie just proved that it is still possible to raise nine-figures as an insurance-focused startup.
The Great Delivery Wars: Next up was News From Instacart, including the fact that its IPO is still underway, and that it is busy launching products as it meanders towards the public markets. It turns out as well that a bunch of companies would love more than a slice of its business. Doordash, for one.
Layoffs and more: And then layoffs. Layoffs at Metafy, layoffs at Sundae, and layoffs at Ola. We, however, found a silver lining and ran with that.

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Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products.

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