Grocery delivery app Getir bags Gorillas in $1.2 billion acquisition – TechCrunch

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Startups and VCs

More layoffs this week Ingrid reports on Primer, a UK-based e-commerce infrastructure startup that has announced it will lay off a third of its staff as part of a restructuring to handle current and proposed commerce market conditions.

Meanwhile, haje thinks you need the perfect summary slide for your pitch deck and found one for you (requires TechCrunch+ subscription).

And we have three more for you:

How to respond when a VC asks for the valuation of your startup

When a VC inevitably asks you about your rating expectations, it’s a trick question: if your answer is too high, that’s a red flag, while a low number understates the company.

“We’re leaving the market price this round” is an appropriate answer, but only if you’ve already collected substantial data points from other investors — and can fire back with a few questions of your own, says Evan Fisher, founder of Unicorn. Capital.

“If that’s all you say, you’re in trouble because that can also be interpreted as ‘we have no idea’ or ‘we’ll take what we’re given,’” Fisher said.

Instead of going in the cold, he advises founders to pre-pitch investors their next round and use the takeaways from those conversations to shape current valuations.

In the article, Fisher includes sample questions “you’ll want to ask every VC you talk to” and other tips that will help you “when they ask the evaluation question.”

Three others from the TC+ team:

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Big Tech inc.

We’re here with our mouths open to learn that crypto news publication The Block received large – and undisclosed – loans from former FTX CEO Sam Bankman-Fried’s Alameda Research. As a result, CEO Michael McCaffrey is absent and Bobby Moran, the company’s chief revenue officer, takes on the role, but as Jacqueline and alexander write, the current conflict of interest will take some time to mend, if it can even be done.

As we wait for the Federal Trade Commission to send news on Microsoft’s fate with Activision, Kyle writes that the cloud services giant has acquired another company, this time Lumenisity, a startup developing high-speed cables for data transmission.

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