Raena was founded in 2019 to create personal care brands with top social media influencers. After several launches, however, the Singapore-based startup noticed an interesting trend: customers were ordering batches of products from Raena every week and reselling them on social media and e-commerce platforms like Shopee and Tokopedia. Last year, the company decided to focus on those sellers, and pivoted to social commerce.

Today Raena announced it has raised a Series A of $9 million, co-led by Alpha Wave Incubation and Alpha JWC Ventures, with participation from AC Ventures and returning investors Beenext, Beenos and Strive. Its last funding announcement was a $1.82 million seed round announced in July 2019.

After interviewing people who had set up online stores with products from Raena, the company’s team realized that sellers’ earnings potential was capped because they were paying retail prices for their inventory.

They also saw that even though new C2C retail models, like social commerce, are gaining popularity, the beauty industry’s supply chain hasn’t kept up. Sellers usually need to order minimum quantities, which makes it harder for people to start their own businesses, Raena co-founder Sreejita Deb told TechCrunch.

“Basically, you have to block your capital upfront. It’s difficult for individual sellers or micro-entrepreneurs to work with the old supply chain and categories like beauty,” she said.

Raena decided to pivot to serve those entrepreneurs. The company provides a catalog that includes mostly Japanese and Korean skincare and beauty brands. For those brands, Raena represents a way to enter new markets like Indonesia, which the startup estimates has $20 billion market opportunity.

Raena resellers, who are mostly women between 18 to 34 years old in Indonesia and Malaysia, pick what items they want to feature on their social media accounts. Most use TikTok or Instagram for promotion, and set up online stores on Shopee or Tokopedia. But they don’t have to carry inventory. When somebody buys a product from a Raena reseller, the reseller orders it from Raena, which ships it directly to the customer.

This drop-shipping model means resellers make higher margins. Because they don’t have to buy their inventory, it also dramatically lowers the barrier to launching a small business. Even though Raena’s pivot to social commerce coincided with the COVID-19 pandemic, Deb said it grew its revenue 50 times between January and December 2020. The platform now has more than 1,500 resellers, and claims a 60% seller retention rate after six months on the platform.

She attributes Raena’s growth to several factors, including the increase in online shopping during lockdowns and people looking for ways to earn additional income during the pandemic. While forced to stay at home, people also began spending more time online, especially on the social media platforms that Raena resellers use.

Raena also benefited from its focus on skincare. Though many retail categories, including color cosmetics, took a hit, skincare products proved resilient.

“We saw skincare had higher margins, and there are certain markets that are experts at formulating and producing skincare products, and demand for those products in other parts of the world,” she said.

“We’ve continued being a skincare company and because that is a category we had insight into, it was our first entry point into this social selling model as well. Ninety percent of our sales are skincare,” Deb added. “Our top-selling products are serums, toners, essences, which makes a lot of sense because people are in their homes and have more time to dedicate to their skincare routines.”

Social commerce, which allows people to earn a side income (or even a full-time income), by leveraging their social media networks, has taken off in several Asian markets. In China, for example, Pinduoduo has become a formidable rival to Alibaba through its group-selling model and focus on fresh produce. In India, Meesho resellers sell products like clothing through social media platforms including WhatsApp, Facebook and Instagram.

Social commerce is also gaining traction in Southeast Asia, with gross merchandise value growing threefold during the first half of 2020, according to iKala.

Deb said one of the ways Raena is different from other social commerce companies is that most of its resellers are selling to customers they don’t know, instead of family and friends. Many already had TikTok or Instagram profiles focused on beauty and skincare, and had developed reputations for being knowledgeable about products.

As Raena develops, it plans to hire a tech team to build tools that will simplify the process of managing orders and also strike deals directly with manufacturers to increase profit margins for resellers. The funding will be used to increase its team from 15 to over 100 over the next three months, and it plans to enter more Southeast Asian markets.

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Amy and I have coffee for about 30 minutes every morning. It’s been one of the wonderful positive side effects of the Covid crisis.

Some days we land on a topic. Other days we don’t. Today, after a few minutes, the question “What is your worldview?” popped up, and we bashed that around for a little while.

The last year has had an enormous impact on my personal worldview. My underlying value system and beliefs haven’t changed, but I’ve reconsidered, rethought, adjusted, and modified many external perspectives. But that’s the easy stuff.

Amy said something this morning that caused me to jump out of my skin with delight.

“You have always been the weird kid in the corner with a big book.”

At the moment she said this, we were discussing how we understood others and how others understood or misunderstood us.

My internal perspective is unchanged, but in the last year, it has surfaced much more clearly. About four years ago, Jerry Colonna and I had a conversation described in his book Reboot: Leadership and the Art of Growing Up where I said, “I’m no longer striving.”

I didn’t completely understand what I meant by this back then, but it was the beginning of me bending the arc on my internal worldview. Jerry linked it to equanimity, which has deep roots in Buddhist thought in addition to its traditional definition.

In Buddhism, equanimity (Pali: upekkhā; Sanskrit: upekṣā) is one of the four sublime attitudes and is considered: Neither a thought nor an emotion, it is rather the steady conscious realization of reality’s transience. It is the ground for wisdom and freedom and the protector of compassion and love.

I’ve anchored on the phrase the steady conscious realization of reality’s transience which speaks to me and feels reflective of my current internal worldview.

The post What Is Your Worldview? appeared first on Feld Thoughts.

Maze has closed a $15 million Series A funding round led by Emergence Capital. The company lets you run user tests at scale so that you can get feedback before rolling out a design update or test copy.

When you have a lot of users, you don’t want to roll out some changes before testing it first. Some companies run A/B tests on a small portion of users and gather feedback with custom forms and polls. But that involves some coding and complications in your roadmap. Other companies simply spend a lot of time talking one-to-one with some customers.

Maze lets you test something new based on a Figma, InVision, Adobe XD, Marvel or Sketch project. You can design something new in your favorite app and start a new test based on that project.

From your web browser, you can ask your user to do something in your app, provide some context and ask a quick question at the end of the test. After that, you get a link for your next testing campaign.

You can test it on hundreds or thousands of potential users and get a detailed report with a success rate, where your users drop off, answers to your questions and polls and more. Maze now also lets you test concepts without a design.

Essentially, Maze wants to empower product designers and product managers. They can be in charge of the product roadmap with actual numbers to back their claims. And everybody can collaborate on user tests as it’s a software-as-a-service product. It makes it easier to run a design-led company.

In addition to Emergence Capital, Jay Simons and existing investors Amplify Partners, Partech and Seedcamp also participated in today’s funding round. The company plans to grow the size of its team.

Over the past 12 months, Maze has grown its monthly recurring revenue by 600%. It now generates $1.5 million in annual recurring revenue and 40,000 companies are now using Maze. One million testers have completed at least one test on Maze. Customers include GE, Samsung, Vodafone, Braze and FairMoney

TreeCard, a U.K. yet-to-launch fintech offering a spending card made out of wood and the promise to fund reforesting via the interchange fees generated, has raised $5.1 million in seed funding. The round is led by EQT Ventures, with participation from Seedcamp and Episode 1.

Angel investors also backing the startup include Matt Robinson (founder of GoCardless), Paul Forester (founder of Indeed) and Charlie Delingpole (founder of ComplyAdvantage). TreeCard says the funding will be used to hire talent, support the roll-out of its product across the U.K. and to expand into the U.S. and “key European markets”.

Aiming to become a “leading green finance brand”, TreeCard was founded in August 2020 by Thiel fellow Jamie Cox (who previously co-founded Cashew), Gary Wu and James Dugan. The team hit onto the idea of swapping loyalty points or cash back for tree planting, in a bid to create a fintech proposition with more societal impact.

Once signed up, you link the TreeCard app to your current bank accounts so you can begin routing your spending through the Mastercard-powered TreeCard. Purchases you then make — or, specifically, a portion of the card transaction fees your spending generates — is then put toward tree planting projects run by green search engine Ecosia, which is also a pre-seed investor in TreeCard.

“[At a] high level, the climate crisis is the biggest existential risk that humanity has faced in the last 200,000 years; we believe directing the flow of consumer finances is the most powerful way to affect change,” CEO Cox tells me. “We’re building a finance company that allows consumers to not just to do less damage with their spending, but to actively improve the world.

“We are building a free spending card that allows consumers to spend more responsibly. The card uses interchange to reforest as they spend and sophisticated analytics to help them identify healthy spending as well as destructive ones”.

Of course, consumer card interchange fees in the U.K./EU are very low compared to the U.S. Offering a spending card and account isn’t without overhead, so it isn’t clear how sustainable TreeCard could be on interchange revenue alone. Perhaps unsurprisingly, the U.S., where generated fees are higher, is seen as a key launch market for the startup.

“Interchange fees in the U.S. are significantly higher than in the EU so this presents a sufficient revenue opportunity for us to perform our reforestation investments and cover marketing and management costs,” explains Cox. “In the EU we’re going to be partnering with an existing retail bank who will provide all our banking infrastructure for free. This will mean that, even though our interchange fee cut is lower, it will be sufficient to cover our costs in the EU. We will announce the name of the bank shortly”.

Meanwhile, early backer Ecosia is described by the TreeCard founder as its “mother” company. “They’re our closest partner and we’ll be working very closely with them as we grow,” Cox says. “They invested the first cheque into the company and will be doing all our tree planting for us. Ecosia’s marketing team is extremely experienced and they will be helping us use their search engine as a core channel for user acquisition over the next few years”.

Comments Tom Mendoza, deal partner at EQT Ventures: “TreeCard has the potential to become a leading green finance brand, going where no brand has gone before in creating a de facto platform for impactful financial management. At EQT Ventures, we’re increasingly aware of the environment and the impact that our investments have on the world around us, so we’re really excited to support the TreeCard team, who are actively working with the financial system to create a better future for the planet”.

Over the years, there has been a growing trend of fintech infrastructure players around the world. In Africa, a handful of startups have launched in the past three years to provide such services. Stitch, a South African fintech startup, is one of them and today, it is coming out of stealth and announcing its seed round of $4 million. This makes it the largest round raised by any API fintech startup in Africa at the moment.

Founded by Kiaan Pillay, Natalie Cuthbert, and Priyen Pillay, Stitch wants to provide full API access to financial accounts across Africa starting from its first market, South Africa. With its API, developers can connect apps to financial accounts. This allows users to share their transaction history and balances, confirm their identities, and initiate payments.

We’ve seen a wave of API-led financial services companies proliferating around the globe. Plaid leads the way in the U.S. Sweden-based fintech Tink has also been dominant across Europe, while Truelayer and Belvo are holding the fort in the UK and Latin America.

These companies provide engineering and developer tools that reduce the technical and operational effort needed for apps to connect to their users’ financial accounts. By way of APIs, they make it possible for other companies to integrate what are otherwise complex services to build from the ground up simply by adding in a few lines of code.

Like other financial infrastructure companies, Stitch services allows companies and developers to innovate around other services like personal finance, lending, insurance, payments and wealth management.

The founders draw on prior experience building API products for local markets in the past. In 2017, Kiaan Pillay worked as the head of operations for South African insurance API platform Root. He left a year to Smile Identity, a San Fransisco-based identity API company. There, he worked with fintechs across Africa and discovered they faced infrastructural issues around compliance and identity.

At this time, Pillay, Cuthbert — who was the CTO at Root — and Priyen were playing around building a Venmo style wallet for Africa as a side project. Eight months trying to connect to banks showed them how the lack of infrastructure in African fintech slows down progress.

“We were looking for a way to let users cash out from their wallet to their bank account,” Pillay tells TechCrunch. “We did this manually at first and then as a stopgap, we automated the process using screen scraping. We realized that the automated solution to this manual problem could be a product by itself and that there were more elegant ways to do it.”

This set the team up to work on Stitch — Pillay as CEO, Cuthbert as CTO and Priyen as CPO. They began working on the idea full-time in October 2019 and secured a pre-seed round a month later. While in stealth, Stitch says it has gotten a handful of clients, which include Intelligent Debt Management, Momentum Velocity Club, and FlexClub. The company is also beginning to attract some attention from corporate companies around consumer-facing products.

As of now, Stitch has a data and identity API product, and this month, a payment product will be added to its offerings. Like most API fintech startups, Stitch charges developers and companies per API call. However, for some products like budgeting or personal finance management apps, it also charges a fixed fee.

With wide and deep investor backing, Stitch will use the funding to consolidate growth in South Africa. There are plans to also launch operations in West and East Africa; the company’s statement reads.

Africa’s financial infrastructure space is heating up

These markets already have players, mainly Nigerian startups, in the API fintech space. They have raised sizeable rounds with enviable backings as well. Mono, a startup that only launched six months ago, is backed by YC; For Okra, it is Pan-African VC firm TLcom Capital; OnePipe has Techstars, and US-based but Africa-focused Pngme has attracted investment from Pan African VC firms EchoVC and Lateral Capital.

For now, these startups don’t operate in more than two countries. For instance, Mono, Okra and OnePipe are only live in Nigeria. Pngme says it’s operating in Nigeria and Kenya, while Stitch is only in South Africa. It will be interesting to see how competition and collaboration play out when they expand outside their markets. We might not wait long as Okra is currently in beta in Kenya and South Africa, and Mono is planning an expansion into Ghana and Kenya before the end of the year.

For the founders of these startups who I’ve talked to in the past year, competition can be healthy for the market and Pillay adds that what might play out, in the long run, is each company creating a niche functionality at which they’re best.

“Unlike the U.S. where Plaid is dominant, I think Africa needs many players. Europe is a good example; many sizeable companies are providing similar banking API services. For us, I think what we would start to see happen is that some companies will be known to do a particular thing well like payments, data enrichment, or merchant identification.”

Stitch has an impressive lineup of investors for this seed round led by London-based VC firm, firstminute Capital and US-based investment firm, The Raba Partnership. Other investors who took part include both funds and angels.

The funds include CRE and Village Global, Norrsken (a fund by Klarna co-founder Niklas Adalberth), Future Africa (a fund by Flutterwave co-founder Iyinoluwa Aboyeji) and 500 Fintech. The angel cohort includes Venmo co-founder Iqram Magdon Ismail, some founding members at Plaid, executives at Coinbase, Revolut, Fast, and Paystack.

On how the startup still in stealth managed to get these investors on board, Pillay says it’s down to the company’s network in the US and the belief each investor has in the product.

“Spending a lot of time in San Francisco when working with Smile has helped us to get in touch with these globally world-class founders and investors. There’s an opportunity for us to provide a new generation of financial services in markets across Africa, and we’re really fortunate to have them back us.” 

For Brent Hoberman, co-founder and general partner of firstminute capital, the firm decided to back Stitch because it believes most online business in Africa will embed fintech capabilities in their applications — facilitating online payments, increasing lending capacity and streamlining KYC and identity checks — through Stitch.

“As a fellow South African, I’m excited to be partnering with a team of exceptionally talented local engineers with pan-African ambitions,” he added.

That said, Africa’s fintech sector is beginning to heat up after a slow January which saw agritech and cleantech sectors dominate funding rounds. This week, South African digital bank TymeBank raised a whopping $109 million to expand across the country and into Asia, extending the sort of large rounds we’ve seen in the past from a sector that attracted more than 30% of VC funding.

For Stitch, its seed round is the latest in a series of notable deals in the African API fintech space over the last two years, where all major players have raised between $500,000 to $4 million.

Singapore is quickly turning into a hub for food-tech startups, partly because of government initiatives supporting the development of meat alternatives. One of the newest entrants is Next Gen, which will launch its plant-based “chicken” brand, called TiNDLE, in Singaporean restaurants next month. The company announced today that it has raised $10 million in seed funding from investors including Temasek, K3 Ventures, EDB New Ventures (an investment arm of the Singapore Economic Development Board), NX-Food, FEBE Ventures and Blue Horizon.

Next Gen claims this is the largest seed round ever raised by a plant-based food tech company, based on data from PitchBook. This is the first time the startup has taken external investment, and the funding exceeded its original target of $7 million. Next Gen was launched last October by Timo Recker and Andre Menezes, with $2.2 million of founder capital.

Next Gen’s first product is called TiNDLE Thy, an alternative to chicken thighs. Its ingredients include water, soy, wheat, oat fiber, coconut oil and methylcellulose, a culinary binder, but the key to its chicken-like flavor is a proprietary blend of plant-based fats, like sunflower oil, and natural flavors that allows it to cook like chicken meat.

Menezes, Next Gen’s chief operating officer, told TechCrunch that the company’s goal is to be the global leader in plant-based chicken, the way Impossible and Beyond are known for their burgers.

“Consumers and chefs want texture in chicken, the taste and aroma, and that is largely related to chicken fat, which is why we started with thighs instead of breasts,” said Menezes. “We created a chicken fat made from a blend, called Lipi, to emulate the smell, aroma and browning when you cook.”

Both Recker and Menezes have years of experience in the food industry. Recker founded German-based LikeMeat, a plant-based meat producer acquired by the LIVEKINDLY Collective last year. Menezes’ food career started in Brazil at one of the world’s largest poultry exporters. He began working with plant-based meat after serving as general manager of Country Foods, a Singaporean importer and distributor that focuses on innovative, sustainable products.

“It was clear to me after I was inside the meat industry for so long that it was not going to be a sustainable business in the long run,” Menezes said.

Over the past few years, more consumers have started to feel the same way, and began looking for alternatives to animal products. UBS expects the global plant-based protein market to increase at a compounded annual growth rate of more than 30%, reaching about $50 billion by 2025, as more people, even those who aren’t vegans or vegetarians, seek healthier, humane sources of protein.

Millennial and Gen Z consumers, in particular, are willing to reduce their consumption of meat, eggs and dairy products as they become more aware of the environmental impact of industrial livestock production, said Menezes. “They understand the sustainability angle of it, and the health aspect, like the cholesterol or nutritional values, depending on what product you are talking about.”

Low in sodium and saturated fat, TiNDLE Thy has received the Healthier Choice Symbol, which is administered by Singapore’s Health Promotion Board. Next Gen’s new funding will be used to launch TiNDLE Thy, starting in popular Singaporean restaurants like Three Buns Quayside, the Prive Group, 28 HongKong Street, Bayswater Kitchen and The Goodburger.

Over the next year or two, Next Gen plans to raise its Series A round, launch more brands and products, and expand in its target markets: the United States (where it is currently recruiting a growth director to build a distribution network), China, Brazil and Europe. After working with restaurant partners, Next Gen also plans to make its products available to home cooks.

“The reason we started with chefs is because they are very hard to crack, and if chefs are happy with the product, then we’re very sure customers will be, too,” said Menezes.

Through all of the last year’s lockdowns, venue closures and other social distancing measures that governments have enacted and people have followed to slow the spread of COVID-19, shopping — and specifically e-commerce — has remained a consistent and hugely important service. It’s not just something that we had to do; it’s been an important lifeline for many of us at a time when so little else has felt normal. Today, one of the startups that saw a big lift in its service as a result of that trend is announcing a major fundraise to fuel its growth.

Wallapop, a virtual marketplace based out of Barcelona, Spain that lets people resell their used items, or sell items like crafts that they make themselves, has raised €157 million ($191 million at current rates), money that it will use to continue growing the infrastructure that underpins its service, so that it can expand the number of people that use it.

Wallapop has confirmed that the funding is coming at a valuation of €690 million ($840 million) — a significant jump on the $570 million pricetag sources close to the company gave us in 2016.

The funding is being led by Korelya Capital, a French VC fund backed by Korea’s Naver, with Accel, Insight Partners, 14W, GP Bullhound and Northzone — all previous backers of Wallapop — also participating.

The company currently has 15 million users — about half of Spain’s internet population, CEO Rob Cassedy pointed out to us in an interview earlier today — and it has maintained a decent No. 4 ranking among Spain’s shopping apps, according to figures from App Annie.

The startup has also recently been building out shipping services, called Envios, to help people get the items they are selling to buyers, which has expanded the range from local sales to those that can be made across the country. About 20% of goods go through Envios now, Cassedy said, and the plan is to continue doubling down on that and related services.

Naver itself is a strong player in e-commerce and apps — it’s the company behind Asian messaging giant Line, among other digital properties — and so this is in part a strategic investment. Wallapop will be leaning on Naver and its technology in its own R&D, and on Naver’s side it will give the company a foothold in the European market at a time when it has been sharpening its strategy in e-commerce.

The funding is an interesting turn for a company that has seen some notable fits and starts.

Founded in 2013 in Spain, it quickly shot to the top of the charts in a market that has traditionally been slow to embrace e-commerce over more traditional brick-and-mortar retail.

By 2016, Wallapop was merging with a rival, LetGo, as part of a bigger strategy to crack the U.S. market with more capital in tow.

But by 2018, that plan was shelved, with Wallapop quietly selling its stake in the LetGo venture for $189 million. (LetGo raised $500 million more on its own around that time, but its fate was not to remain independent: it was eventually acquired by yet another competitor in the virtual classifieds space, OfferUp, in 2020, for an undisclosed sum.)

Wallapop has for the last two years focused mainly on growing in Spain rather than running after business further afield, and instead of growing the range of goods that it might sell on its platform — it doesn’t sell food, nor work with retailers in an Amazon-style marketplace play, nor does it have plans to do anything like move into video or selling other kinds of digital services — it has honed in specifically on trying to improve the experience that it does offer to users.

“I spent 12 years at eBay and saw the transition it made to new goods from used goods,” said Cassedy. “Let’s just say it wasn’t the direction I thought we should take for Wallapop. We are laser-focused on unique goods, with the vast majority of that secondhand with some artisan products. It is very different from big box.”

It may mean that the company has not ballooned and boomed in the way that so many startups might, especially those fueled by hundreds of millions in investment and hype — some of which pays off spectacularly, and some of which cataclysmically does not. But it has meant a steady presence in the market, one perhaps built on a more solid identity.

Wallapop’s growth in the past year is the result of some specific trends in the market that were in part fueled by the COVID-19 pandemic. All of them have helped build up a profile for the company as a kind of upscale, virtual car boot sale or flea market.

People spending more time in their homes have been focused on clearing out space and getting rid of things. Others are keen to buy new items now that they are spending more time at home, but want to spend less on them, perhaps because they are facing employment or other economic uncertainty. Yet others have found themselves out of work, or getting less work, and are turning to becoming entrepreneurs and creating their own products to sell in a more grassroots way.

In all of those cases, there has been a push for more sustainability, with people putting less waste into the world by recycling and upcycling goods instead.

At the same time, Facebook hasn’t really made big inroads in the country with its Marketplace, and Amazon has also not appeared as a threat to Wallapop, Cassedy noted.

All of these have had a huge impact on Wallapop’s business, but it wasn’t always this way. Cassedy said that the first lockdown in Spain saw business plummet, as people faced severe restrictions on their movements, unable to leave their homes except for the most essential duties like buying food or getting themselves to the hospital.

“It was a roller coaster for us,” he said.

“We entered the year with incredible momentum, very strong.” But he noted that the drop started in March, when “not only did it become not okay to leave the house and trade locally but the post office stopped delivering parcels. Our business went off a cliff in March and April.”

Then when the restrictions were lifted in May, things started to bounce back more than ever before, nearly overnight, he said.

“The economic uncertainty caused people to seek out more value, better deals, spending less money, and yes they were clearing out closets,” he said. “We saw numbers bounce back 40-50% growth year-on-year in June.”

The big question was whether that growth was a blip or there to say. He said it has continued into 2021 so far. “It’s a validation of what we see as long-term trends driving the business.”

Naver has made a big business out of keeping strong regional focus in its products up to now, so in a way you could see it continue that while still growing, by investing in another strong regional player. Although it seems Wallapop has a site in the U.K., it’s not something that it has pushed much as a business.

“The global demand for C2C and resale platforms is growing with renewed commitment in sustainable consumption, especially by younger millennials and Gen Z,” noted Seong-sook Han, CEO of Naver Corp., in a statement. “We agree with Wallapop’s philosophy of conscious consumption and are enthused to support their growth with our technology and develop international synergies.”

I’ll also add that it is heartening, as a consumer, to see priorities like sustainability being given consideration, too. Hopefully it’s not just lip service but a genuine recognition that this is something that should be encouraged and backed.

“Our economies are switching towards a more sustainable development model; after investing in Vestiaire Collective last year, wallapop is Korelya’s second investment in the circular economy, while COVID-19 is only strengthening that trend. It is Korelya’s mission to back tomorrow’s European tech champions and we believe that Naver has a proven tech and product edge that will help the company reinforce its leading position in Europe,” added Fleur Pellerin, CEO of Korelya Capital.

Equity is celebrating its fourth birthday in a few weeks and closed 2020 with its biggest quarter to date. To celebrate and say thank you to our wonderful listeners who tune into us each and every single week, we’re growing upward and outward!

First, as many of you have noticed, we’ve expanded the Equity team. Grace Mendenhall joined the production crew this year, initially helping cover for Chris Gates while he was out on paternity leave. But now Chris is back and so we’ve doubled our producer team.

In classic startup fashion, a bigger team means we can make more swings at R&D, or in this case, add on a new show to our semiweekly cadence.

Today, the whole Equity team — Chris, Grace, Danny, Natasha and Alex — are super proud to announce that we’re expanding the podcast’s show lineup. We’re going to add a new show each week, which will rotate around a particular theme, geography or supermassive news event. It’s your midweek chance to listen to a show about one trend, whether that’s space tech or the growth of community as a competitive advantage. Sometimes it will be an exact topic you’ve cared about for so long (insert Alex and SaaS joke here) and sometimes it will be about a topic you know nothing about. We’re here to convince you to care anyway. Regardless, you can depend on the Equity trio to give you a trifecta of shows that helps you stay up to date on startup and venture capital news in a consumable way.

Starting, well, now, here’s what Equity looks like:

Equity on Monday: Our weekly kickoff show is not changing. Except Alex has promised to learn how to speak with better diction.Equity on Wednesday: Our midweek show focused on a single topic or theme. Expect to hear from other TechCrunch reporters about their beats, investors on what they are seeing in the market and reporting on countries and cities where startup activity is blowing up.Equity, now on Friday: The main Equity episode is not changing, other than that we’re going to tighten it up a little bit and release it Friday mornings like we used to. While it was a blast to get out the door Thursday afternoon, we’re going to give Equity Wednesday a little more time to breathe. And since so many of you listen to this episode on Friday anyway, most folks won’t notice a change.

As COVID-19 fades thanks to the rollout of vaccines around the globe, we’ll eventually get back into our studio. That could mean more video down the pike. And we’ll still do the odd Equity Shot for big events that we can’t help but chat about.

Our goal was to double-down on what we think is the best part of Equity: A group of friends hammering through the news as a group, learning, joking and having fun with the world of startups and venture capital.

So, we’ll see you one more time each week. Cool? Cool. Hugs from here and chat soon. — The Equity Team

Here’s another edition of “Dear Sophie,” the advice column that answers immigration-related questions about working at technology companies.

“Your questions are vital to the spread of knowledge that allows people all over the world to rise above borders and pursue their dreams,” says Sophie Alcorn, a Silicon Valley immigration attorney. “Whether you’re in people ops, a founder or seeking a job in Silicon Valley, I would love to answer your questions in my next column.”

Extra Crunch members receive access to weekly “Dear Sophie” columns; use promo code ALCORN to purchase a one- or two-year subscription for 50% off.

Dear Sophie:

Help! Our startup needs to hire 50 engineers in artificial intelligence and related fields ASAP. Which visa and green card options are the quickest to get for top immigrant engineers?

 And will Biden’s new immigration bill help us?

— Mesmerized in Menlo Park

Dear Mesmerized,

I’m getting this question quite frequently now as more and more startups with recent funding rounds are looking to quickly expand. In the latest episode of my podcast, I discuss some of the quickest visa categories for startups to consider when they need to add talent quickly.

As always, I suggest consulting with an experienced immigration lawyer who can help you quickly strategize and implement an efficient and cost-effective hiring and immigration plan. An immigration lawyer will also be up to date on any immigration policy changes and plans in the event that the Biden administration’s U.S. Citizenship Act of 2021 passes. It was introduced in the House and Senate this month.

That proposed legislation would enable more international talent to come to the U.S. for jobs and clear employment-based visa backlogs, among other things. Given the legislation’s substantial benefits offered to employers, I encourage your startup — and other companies — to let congressional representatives know you support it.

Given that most U.S. embassies and consulates remain at limited capacity for routine visa and green card processing due to the pandemic, it is generally quicker to hire American and international workers who are already in the U.S. Although U.S. Citizenship and Immigration Services (USCIS) is experiencing substantial delays in processing cases due to the coronavirus, as well as an increase in applications, Premium Processing is currently available for most employment-based petitions. We are still able to support many folks with U.S. visa appointment scheduling at consulates abroad using various national interest strategies.

With all of that in mind, here are the visa categories that offer the quickest way to hire international talent.

H-1B transfers

Hiring individuals by transferring their H-1B to your startup can be completed in a couple of months with premium processing. Premium processing is an optional service that for a fee guarantees USCIS will process the petition within 15 calendar days.

What’s more, H-1B transferees can start working for your startup even before USCIS has issued a receipt notice or made a decision in the case. You just need to make sure that USCIS received the petition, which is why I always recommend sending all packages to USCIS with tracking.

Premium processing can help to get a digital receipt as the paper receipts are often backlogged. I stopped suggesting this route during the Trump administration, but am feeling more comfortable providing it as an option under the Biden administration. The H-1B is the only type of visa that allows somebody to start working upon the filing of a transfer application.

Kaleido, makers of a drag-and-drop background removal service for images and video, have been acquired by up-and-coming digital design platform Canva. While the price and terms are not disclosed, it is speculated that this young company may have fetched nearly nine figures.

It’s the right product at the right time, seemingly. In 2019, the Vienna-based Kaleido made remove.bg, a quick, simple, free and good-enough background removal tool for images. It became a hit among the many people who need to quickly do that kind of work but don’t want to fiddle around in Photoshop.

Then late last year they took the wraps off Unscreen, which did the same thing for video — a similar task conceptually, but far more demanding to actually engineer and deploy. The simplicity and effectiveness of the tool practically begged to be acquired and integrated into a larger framework by the likes of Adobe, but Canva seems to have beaten the others to the punch.

The acquisition was announced at the same time as another by Canva: product mockup generator Smartmockups, suggesting a major product expansion by the growing design company.

“We completely bootstrapped Kaleido with no investors involved from day one,” said co-founder and CEO of Kaleido, Benjamin Groessing, in a press release. “It has just been two founders and an incredible team. We’ve been profitable from the start — so this acquisition wasn’t essential for our existence. It just made sense on so many levels.”

The company declined to provide any further details on the acquisition beyond that the brand and name are expected to survive — at least Unscreen, which makes perfect sense as a product name even under another company.

German outlets Die Presse and Der Brutkasten cited sources putting the purchase “reiht sich dahinter ein” or in the same rank as the largest Austrian exits (the largest of which was Runtastic at €220 million), though still in the two-digit millions — which suggests a price approaching $100M.

Whatever the exact amount, it seems to have made the team very happy. And don’t worry — they put that image together using their own product for each person.

Should you try to get your startup into an accelerator program? How do you make the right impression on the application? Where does your team need to be before you apply — and once you’re in, how do you make the most of your time in the program?

Join us at the TechCrunch Early Stage event in April, where Neal Sáles-Griffin, managing director of Techstars Chicago, will help us figure it all out.

Neal has seen this industry from just about every angle — as a teacher, advisor, investor and repeat co-founder. In 2011 he co-founded what is often referred to as the “first coding bootcamp,” with The Starter League, acquired by New York’s Fullstack Academy in 2016. In addition to leading the way at Techstars Chicago, he is also a venture partner at MATH Venture Partners, an early/middle-stage VC fund.

TC Early Stage — happening April 1 and 2 — is an event that we’ve tailored to be absolutely packed with information for early-stage founders, with key insights from the investors, founders and executives who’ve been through it all before. Day one will cover everything from fundraising, to honing your pitch deck, to finding product-market fit; day two transitions into what we’ve dubbed the TC Early Stage Pitch-Off, where 10 companies will get a shot to pitch an incredible line-up of VC judges.

Oh, and it’s all fully virtual, so you can tune in straight from the comfort of your couch. You can find more details here, or get your tickets directly below.

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Amy and I just underwrote one-year memberships to the Boulder Chamber of Commerce for 62 Black-owned businesses in Boulder.

Last summer, Aaron Clark started putting together a list of Black-owned Businesses in Boulder. The current list is at 62.

A few weeks ago, John Tayer at the Boulder Chamber mentioned an initiative he was working on with Aaron to get discounted memberships to all 62 companies. The Boulder Chamber is a long-standing and important part of the Boulder business community, and John has been a great leader for many years.

In an attempt to eliminate any friction associated with a decision for these 62 businesses to join the Boulder Chamber, Amy and I decided to underwrite their memberships for a year. I hope that all 62 will join, and the overall Boulder business community will engage deeply with and support these business owners.

I appreciate Aaron and John’s leadership enormously. I’ve gotten to know and work with Aaron on several initiatives over the past nine months, including participating in an equity learning initiative led by his firm Equity Solutions, supporting Justice Reskill, and experiencing a lot of equity activity Aaron has lead for Energize Colorado.

John recently did one of his Chamber Chats with Aaron. It’s a great overview of some of the work Aaron is doing, along with a discussion of Black History Month.

If you’d like an intro to Aaron or John, just email me.

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