Tech talent is flocking to smaller cities, but investors aren’t
Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. This week’s show took a break from regularly scheduled programming. Our co-host Alex Wilhelm, who usually leads us through the show, was on some much-deserved vacation, so Danny Crichton and Natasha Mascarenhas took the reigns and invited Floodgate Capital’s Iris Choi to join in on the fun. It’s Choi’s fourth time being on the podcast, which officially makes her our most tenured guest yet (in case the accomplished investor needs another bullet point on her bio page).
This week’s docket features scrappiness, a seed round and a Startup Battlefield alumnus.
Here’s what we chewed through:
- LeverEdge raised seed funding to get you and your friends a volume discount on student loans. Fintech has been booming for years now, and startups often crop up around the painful world of student loans. Yet this startup still caught our eye, and it has a little something to do with its choice to use collective bargaining power as its modus operandi.
- Stackin’ raised a $12.6 million Series B for a text-messaging service that connects millennials to money tips, and eventually other fintech apps. According to CEO Scott Grimes, Stackin’ wants to be the “pipes that port people around fintech.” We get into if the world needs a fintech app marketplace and how it targets younger users.
- D-ID, a Startup Battlefield alumnus, digitally de-identifies faces in videos and still images and just raised $13.5 million. We’re all worried about our privacy concerns, so the funding news was a refreshing change of pace from the usual headlines we see around surveillance. Now the company just needs to find a successful use case beyond the goodness in people’s hearts.
- ByteDance, the Chinese parent company that owns TikTok, hit $3 billion in net profit last year, reports Bloomberg. TikTok also recently snagged former Disney executive Kevin Mayer for its CEO. This one, as you can expect, made for an interesting conversation around privacy and bandwidth. We even asked Choi to weigh in on Donald J. Trump’s recent tweet threatening to regulate social media companies, as Floodgate was an early angel investor in Twitter.
- We ended with a roundtable of sorts on how the future of work will look and feel in our new world, from college campuses to offices. We get into the vulnerability that comes with being on Zoom, the ever-increasing stupidity of “manels” and how tech talent might be flocking to smaller cities but investors aren’t just yet.
And that was the show! Thanks to our producer Chris Gates for helping us put this together, thanks to you all for listening in on this quirky episode and thanks to Iris Choi for always bringing a fresh, candid perspective. Talk next week.
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