The digital transformation currently sweeping society has likely reached your favorite local restaurant.
Since 2013, Boston-based Toast has offered bars and eateries a software platform that lets them manage orders, payments and deliveries.
Over the last year, its customers have processed more than $38 billion in gross payment volume, so Alex Wilhelm analyzed the companyâs S-1 for The Exchange with great interest.
âToast was last valued at just under $5 billion when it last raised, per Crunchbase data,â he writes. âAnd folks are saying that it could be worth $20 billion in its debut. Does that square with the numbers?â
Airbnb, DoorDash and Coinbase each debuted at past Y Combinator Demo Days; as of this writing, they employ a combined 10,000 people.
Today and tomorrow, TechCrunch reporters will cover the proceedings at YCâs Summer 20201 Demo Day. In addition to writing up founder pitches, theyâll also rank their favorites.
Even remotely, I can feel a palpable sense of excitement radiating from our team â anything can happen at YC Demo Day, so sign up for Extra Crunch to follow the action.
Thanks very much for reading; I hope you have an excellent week.
Walter Thompson
Senior Editor, TechCrunch
@yourprotagonist
5 takeaways from Toastâs S-1 filing
[HEADING=1]How Amazon EC2 grew from a notion into a foundational element of cloud computing[/HEADING]
Image Credits: Ron Miller/TechCrunch
In August 2006, AWS activated its EC2 cloud-based virtual computer, a milestone in the cloud infrastructure giantâs development.
âYou really canât overstate what Amazon was able to accomplish,â writes enterprise reporter Ron Miller.
In the 15 years since, EC2 has enabled clients of any size to test and run their own applications on AWSâ virtual machines.
To learn more about a fundamental technological shift that âwould help fuel a whole generation of startups,â Ron interviewed EC2 VP Dave Brown, who built and led the Amazon EC2 Frontend team.
How Amazon EC2 grew from a notion into a foundational element of cloud computing
[HEADING=1]3 ways to become a better manager in the work-from-home era[/HEADING]
[IMG alt=âImage of a manager talking to his team via a video conference.â]https://techcrunch.com/wp-content/up...1238465380.jpg
Image Credits: Jasmin Merdan (opens in a new window)/ Getty Images
Most managers agree that OKRs foster transparency and accountability, but running a team effectively has different challenges when workers are attending all-hands meetings from their kitchen tables.
Instead of just discussing key metrics before board meetings or performance reviews, make them part of the day-to-day culture, recommends Jeremy Epstein, Gtmhubâs CMO.
âStrengthen your team by creating authentic workplace transparency using numbers as a universal language and providing meaning behind your teamâs work.â
3 ways to become a better manager in the work-from-home era
[HEADING=1]The pre-pitch: 7 ways to build relationships with VCs[/HEADING]
[IMG alt=âA person attracts people to his side with a magnet.â]https://techcrunch.com/wp-content/up...1310600143.jpg
Image Credits: Getty Images under an Andrii Yalanskyi (opens in a new window) license
Many founders must overcome a few emotional hurdles before theyâre comfortable pitching a potential investor face-to-face.
To alleviate that pressure, Unicorn Capital founder Evan Fisher recommends that entrepreneurs use pre-pitch meetings to build and strengthen relationships before asking for a check:
âThis is the âwe actually arenât looking for money; we just want to be friends for nowâ pitch that gets you on an investorâs radar so that when itâs time to raise your next round, theyâll be far more likely to answer the phone because they actually know who you are.â
Pre-pitches are good for more than curing the jitters: These conversations help founders get a better sense of how VCs think and sometimes lead to serendipitous outcomes.
âInvestors are opportunists by necessity,â says Fisher, âso if they like the cut of your businessâs jib, you never know â the FOMO might start kicking hard.â
The pre-pitch: 7 ways to build relationships with VCs
[HEADING=1]Lessons from COVID: Flexible funding is a must for alternative lenders[/HEADING]
[IMG alt=âFlexible Multi Colored Coil Crossing Hexagon Frame on White Background.â]https://techcrunch.com/wp-content/up...1133589709.jpg
Image Credits: MirageC (opens in a new window) / Getty Images
FischerJordanâs Deeba Goyal and Archita Bhandari break down the pandemicâs impact on alternative lenders, specifically what they had to do to survive the crisis, taking a look at smaller lenders including Credibly, Kabbage, Kapitus and BlueVine.
âOnly those who were able to find a way through the complexities of their existing capital sources were able to maintain their performance, and the rest were left to perish or find new funding avenues,â they write.
Lessons from COVID: Flexible funding is a must for alternative lenders
[HEADING=1]Inside Freshworksâ IPO filing[/HEADING]
[IMG alt="NSussman_Techcrunch_Exchange_v3-BLU" width="666px" height="500px"]https://techcrunch.com/wp-content/uploads/2020/05/NSussman_Techcrunch_Exchange_v3-BLU.jpg[/IMG]
Image Credits: Nigel Sussman (opens in a new window)
Customer engagement software company Freshworksâ S-1 filing depicts a company thatâs experiencing accelerating revenue growth, âa great sign for the health of its business,â reports Alex Wilhelm in this morningâs The Exchange.
âMost companies see their growth rates decline as they scale, as larger denominators make growth in percentage terms more difficult.â
Studying the companyâs SEC filing, he found that âFreshworks isnât a company where we need to cut it lots of slack, as we might with an adjusted EBITDA number. It is going public ready for Big Kid metrics.â
Inside Freshworksâ IPO filing
Continue readingâŚ
Since 2013, Boston-based Toast has offered bars and eateries a software platform that lets them manage orders, payments and deliveries.
Over the last year, its customers have processed more than $38 billion in gross payment volume, so Alex Wilhelm analyzed the companyâs S-1 for The Exchange with great interest.
âToast was last valued at just under $5 billion when it last raised, per Crunchbase data,â he writes. âAnd folks are saying that it could be worth $20 billion in its debut. Does that square with the numbers?â
Full Extra Crunch articles are only available to members.
Use discount code ECFriday to save 20% off a one- or two-year subscription.
Use discount code ECFriday to save 20% off a one- or two-year subscription.
Airbnb, DoorDash and Coinbase each debuted at past Y Combinator Demo Days; as of this writing, they employ a combined 10,000 people.
Today and tomorrow, TechCrunch reporters will cover the proceedings at YCâs Summer 20201 Demo Day. In addition to writing up founder pitches, theyâll also rank their favorites.
Even remotely, I can feel a palpable sense of excitement radiating from our team â anything can happen at YC Demo Day, so sign up for Extra Crunch to follow the action.
Thanks very much for reading; I hope you have an excellent week.
Walter Thompson
Senior Editor, TechCrunch
@yourprotagonist
5 takeaways from Toastâs S-1 filing
[HEADING=1]How Amazon EC2 grew from a notion into a foundational element of cloud computing[/HEADING]
Image Credits: Ron Miller/TechCrunch
In August 2006, AWS activated its EC2 cloud-based virtual computer, a milestone in the cloud infrastructure giantâs development.
âYou really canât overstate what Amazon was able to accomplish,â writes enterprise reporter Ron Miller.
In the 15 years since, EC2 has enabled clients of any size to test and run their own applications on AWSâ virtual machines.
To learn more about a fundamental technological shift that âwould help fuel a whole generation of startups,â Ron interviewed EC2 VP Dave Brown, who built and led the Amazon EC2 Frontend team.
How Amazon EC2 grew from a notion into a foundational element of cloud computing
[HEADING=1]3 ways to become a better manager in the work-from-home era[/HEADING]
[IMG alt=âImage of a manager talking to his team via a video conference.â]https://techcrunch.com/wp-content/up...1238465380.jpg
Image Credits: Jasmin Merdan (opens in a new window)/ Getty Images
Most managers agree that OKRs foster transparency and accountability, but running a team effectively has different challenges when workers are attending all-hands meetings from their kitchen tables.
Instead of just discussing key metrics before board meetings or performance reviews, make them part of the day-to-day culture, recommends Jeremy Epstein, Gtmhubâs CMO.
âStrengthen your team by creating authentic workplace transparency using numbers as a universal language and providing meaning behind your teamâs work.â
3 ways to become a better manager in the work-from-home era
[HEADING=1]The pre-pitch: 7 ways to build relationships with VCs[/HEADING]
[IMG alt=âA person attracts people to his side with a magnet.â]https://techcrunch.com/wp-content/up...1310600143.jpg
Image Credits: Getty Images under an Andrii Yalanskyi (opens in a new window) license
Many founders must overcome a few emotional hurdles before theyâre comfortable pitching a potential investor face-to-face.
To alleviate that pressure, Unicorn Capital founder Evan Fisher recommends that entrepreneurs use pre-pitch meetings to build and strengthen relationships before asking for a check:
âThis is the âwe actually arenât looking for money; we just want to be friends for nowâ pitch that gets you on an investorâs radar so that when itâs time to raise your next round, theyâll be far more likely to answer the phone because they actually know who you are.â
Pre-pitches are good for more than curing the jitters: These conversations help founders get a better sense of how VCs think and sometimes lead to serendipitous outcomes.
âInvestors are opportunists by necessity,â says Fisher, âso if they like the cut of your businessâs jib, you never know â the FOMO might start kicking hard.â
The pre-pitch: 7 ways to build relationships with VCs
[HEADING=1]Lessons from COVID: Flexible funding is a must for alternative lenders[/HEADING]
[IMG alt=âFlexible Multi Colored Coil Crossing Hexagon Frame on White Background.â]https://techcrunch.com/wp-content/up...1133589709.jpg
Image Credits: MirageC (opens in a new window) / Getty Images
FischerJordanâs Deeba Goyal and Archita Bhandari break down the pandemicâs impact on alternative lenders, specifically what they had to do to survive the crisis, taking a look at smaller lenders including Credibly, Kabbage, Kapitus and BlueVine.
âOnly those who were able to find a way through the complexities of their existing capital sources were able to maintain their performance, and the rest were left to perish or find new funding avenues,â they write.
Lessons from COVID: Flexible funding is a must for alternative lenders
[HEADING=1]Inside Freshworksâ IPO filing[/HEADING]
[IMG alt="NSussman_Techcrunch_Exchange_v3-BLU" width="666px" height="500px"]https://techcrunch.com/wp-content/uploads/2020/05/NSussman_Techcrunch_Exchange_v3-BLU.jpg[/IMG]
Image Credits: Nigel Sussman (opens in a new window)
Customer engagement software company Freshworksâ S-1 filing depicts a company thatâs experiencing accelerating revenue growth, âa great sign for the health of its business,â reports Alex Wilhelm in this morningâs The Exchange.
âMost companies see their growth rates decline as they scale, as larger denominators make growth in percentage terms more difficult.â
Studying the companyâs SEC filing, he found that âFreshworks isnât a company where we need to cut it lots of slack, as we might with an adjusted EBITDA number. It is going public ready for Big Kid metrics.â
Inside Freshworksâ IPO filing
Continue readingâŚ