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Hello and welcome to Daily Crunch for June 29, 2021. Have you ever wanted to ditch civilization and move to the woods, but still be able to work? We have good news if that’s you. Below you’ll find lots more, including Facebook’s latest product offering and how one startup wants to save bees. Enjoy! — Alex
The TechCrunch Top 3
Startups/VC
Up top today in our roundup of recent startup news is Beeflow. We’re putting it at the top of the list because (1) It’s about bees and (2) It’s called Beeflow. What’s not to love? Per Jordan Crook, the startup may have an answer to the decimation of the global bee population. And it might make money to boot.
Now, the rest of the news:
And I would be remiss to not mention that I covered venture capital rounds this morning from co-op and Arrows, along with news regarding Acceleprise’s rebrand.
How VCs can get the most out of co-investing alongside LPs
In a recent private equity survey, 80% of respondents said their co-investments with people outside traditional VC firms outperformed their PE fund investments.
Alternative investors are highly motivated, and because they’re seeking higher returns than are generally available in public markets, they are less daunted by risk. In return, they benefit from less expensive fee structures and develop close ties with VCs, enlarging the talent pool as they build investment skills.
These relationships have direct benefits for VCs as well, such as more flexibility with diversification and consolidated decision-making power.
“With the right deal structure, deal selection and deal investigation, co-investors can significantly increase their returns,” says C5 Capital Managing Partner William Kilmer, who wrote an Extra Crunch post for VCs considering an alternative path.
(Extra Crunch is our membership program, which helps founders and startup teams get ahead. You can sign up here.)
Big Tech Inc.
Turning from the smaller upstarts to the megagiants, it’s been a good week to be a Big Tech company. Facebook crossed the $1 trillion market cap threshold, though it dipped back under the magic number this afternoon. Here’s what else is going on from the Bigs:
TechCrunch Experts: Growth Marketing
Image Credits: SEAN GLADWELL (opens in a new window) / Getty Images
TechCrunch wants you to recommend growth marketers who have expertise in SEO, social, content writing and more! If you’re a growth marketer, pass this survey along to your clients; we’d like to hear about why they loved working with you.
If you’re curious about how these surveys are shaping our coverage, check out this interview Extra Crunch Managing Editor Eric Eldon did with Scott Tong, “The pandemic showed why product and brand design need to sit together.”