{"id":29535,"date":"2020-08-30T11:01:00","date_gmt":"2020-08-30T11:01:00","guid":{"rendered":"http:\/\/surfshields.com\/index.php\/2020\/08\/30\/startups-weekly-with-asana-jfrog-palantir-snowflake-sumo-and-unity-were-in-peak-season-for-tech-ipos\/"},"modified":"2020-08-30T11:01:00","modified_gmt":"2020-08-30T11:01:00","slug":"startups-weekly-with-asana-jfrog-palantir-snowflake-sumo-and-unity-were-in-peak-season-for-tech-ipos","status":"publish","type":"post","link":"https:\/\/surfshields.com\/index.php\/2020\/08\/30\/startups-weekly-with-asana-jfrog-palantir-snowflake-sumo-and-unity-were-in-peak-season-for-tech-ipos\/","title":{"rendered":"Startups Weekly: With Asana, JFrog, Palantir, Snowflake, Sumo and Unity, were in peak season for tech IPOs"},"content":{"rendered":"
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Editor\u2019s note:\u00a0<\/a><\/strong>Get this free weekly recap of TechCrunch news that any startup can use by email every Saturday morning (7 a.m. PT). Subscribe here<\/a>.<\/em><\/p>\n

Pandemic numbers are looking better, it\u2019s still a couple months before U.S. elections and a growing line of tech companies have already ventured out into public markets successfully this summer. Hard to imagine conditions beating the present any time soon, whether you\u2019re traditionally banked, going with a direct listing or getting inside a SPAC vehicle.<\/p>\n

We covered the frenzy this week with an eye toward what other startups can learn about the way these companies have arrived at this point. Here are the headlines for each, from Asana to Unity.<\/p>\n

But first, consider this special episode of our Equity podcast from Wednesday<\/a>, where the team reviews the news. And for a faster(ish) read, Extra Crunch subscribers should also check out Alex Wilhelm\u2019s \u201csuper-long roundup\u201d of the companies.<\/a><\/p>\n

The IPOs:<\/strong><\/p>\n

As losses expand, Asana is confident it has the ticket for a successful public listing<\/a><\/p>\n

Palantir and the great revenue mystery<\/a>
The bullish case for Palantir\u2019s direct listing (EC)<\/a>
Leaked S-1 says Palantir would fight an order demanding its encryption keys<\/a>
Palantir\u2019s S-1 alludes to controversial work with ICE as a risk factor for its business<\/a><\/p>\n

Unpacking the Sumo Logic S-1 filing (EC)<\/a><\/p>\n

A quick peek at Snowflake\u2019s IPO filing<\/a>
Industry experts say it\u2019s full speed ahead as Snowflake files S-1<\/a><\/p>\n

Unity\u2019s IPO numbers look pretty \u2026 unreal?<\/a>
Sequoia strikes gold with Unity\u2019s IPO filing<\/a><\/p>\n

Regarding that last one, EC members should be sure to check out our popular deep dive from last year detailing how Unity came to be a leading gaming engine<\/a>.<\/p>\n

Finally, here\u2019s one last EC headline to get you ready for what is sure to be another week of official S-1s, leaked filing information, rumors of imminent IPO dates, controversies over methods of going public, etc.:<\/p>\n

SaaS stocks survive earnings, keeping the market warm for software startups, exits<\/a><\/p>\n

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Image Credits:<\/strong> Getty Images<\/p>\n<\/div>\n

You don\u2019t know SPACs<\/h2>\n

Special purpose acquisition companies are an older model of financial vehicle used to take companies public that has become a hot trend in recent years as more tech startups try to figure out liquidity events. Here\u2019s Connie Loizos, who put together a long list of questions and answers about SPACs<\/a>, concluding that the trend is here for the long-term:<\/p>\n

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[One] investment banker says he\u2019s seeing less interest from VCs in sponsoring SPACs and more interest from them in selling their portfolio companies to a SPAC. As he notes, \u201cMost venture firms are typically a little earlier stage investors and are private market investors, but there\u2019s an uptick of interest across the board, from PE firms, hedge funds, long-only mutual funds.\u201d<\/p>\n

That might change if [A* SPAC founder] Kevin Hartz has anything to do with it. \u201cWe\u2019re actually out in the Valley, speaking with all the funds and just looking to educate the venture funds,\u201d he says. \u201cWe\u2019ve had a lot of requests in. We think we\u2019re going to convert [famed VC] Bill Gurley\u00a0<\/a>\u00a0from being a\u00a0direct listings champion<\/a>\u00a0to the SPAC champion very soon.\u201d<\/p>\n

In the meantime, asked if his SPAC has a specific target in mind already, Hartz says it does not. He also takes issue with the word \u201ctarget.\u201d<\/p>\n

Says Hartz, \u201cWe prefer \u2018partner company.\u2019\u201d A target, he adds, \u201csounds like we\u2019re trying to assassinate somebody.\u201d<\/p>\n<\/blockquote>\n

\n\"Open<\/p>\n

Image Credits:<\/strong> Dougal Waters \/ Getty Images<\/p>\n<\/div>\n

Inside the nearly 200 companies of Y Combinator\u2019s Summer 2020 demo day<\/h2>\n

After YC\u2019s first remote-only demo day this spring, the seed-stage venture firm switched from recorded pitches to live ones. The TechCrunch team was on hand to cover the 192 presentations over Monday and Tuesday this week. We\u2019ve written up these two handy guides to help you find your newest competitors, employers or maybe investment:<\/p>\n

The 98 companies from Y Combinator\u2019s Summer 2020 Demo Day 1<\/a>
The 94 companies from Y Combinator\u2019s Summer 2020 Demo Day 2<\/a><\/p>\n

The staff also picked out their dozen or so favorites from each day, for Extra Crunch subscribers:<\/p>\n

Our 11 favorite companies from Y Combinator\u2019s S20 Demo Day: Part 1<\/a>
Our 12 favorite startups from Y Combinator\u2019s S20 Demo Day: Part 2<\/a><\/p>\n

(Check out this special demo day edition of Equity<\/a> for a free audio rundown.)<\/p>\n

One company wasn\u2019t in the mix \u2014 a startup called Trove, that provides internal compensation SaaS tools, and has just raised a huge new round from Andreessen Horowitz<\/a>. Natasha Mascarenhas has more.<\/p>\n

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What investors are saying about startup cities in 2020: Chicago edition<\/h2>\n

Cities around the world have developed strong tech scenes, but these startup hubs are at the center of potential disruption from pandemic problems plus the possibilities of remote work. We\u2019re surveying investors around the world about what\u2019s next for their home bases. This week, Matt Burns checks in with top Chicago investors about the tech future of the biggest Midwestern city<\/a>. Here\u2019s Constance Freedman of proptech-oriented fund Moderne Ventures, who is investing in the middle of all these changes:<\/p>\n

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World-class startups still need world-class feeders, so I don\u2019t expect expansion to reach all that far, but perhaps density or proximity to work becomes less important for those who work there. This may give more cities a change to rise, including Chicago.<\/p>\n

So what does this mean for Chicago startup ecosystem? I think Chicago is poised to come out well. The city is affordable to begin with \u2026 like 50% more affordable than the West or East Coast hubs. If I live in Chicago I can afford space, I can enjoy my city and I have good transportation if I want to bail out of the city and move to the suburbs. Chicago has a strong ecosystem of universities and capital that can sustain it and may become more appealing to those (tech people and investors) who moved out to go to the coasts in the first place and now realize they don\u2019t need to be there. As people migrate to live where they really want to live, with the lifestyle they want to have, near family they want to be with, they begin to look for more local opportunities and that may bring some great talent back to Chicago and other markets outside of the coasts.<\/p>\n

Chicago has long been known for banking, real estate, health care and insurance. I think these sectors and others are poised to do well. The largest opportunity for us (and any major city) is how to close the education gap, which leads to closing the income gap and from there \u2014 the sky is the limit!<\/p>\n<\/blockquote>\n

Meanwhile, Mike Butcher is working on surveys across Europe, and would like to hear from you if you are an investor in Paris<\/a> or Warsaw<\/a>.<\/p>\n

Around TechCrunch (Disrupt Time)<\/h2>\n

Conan is coming to Disrupt 2020<\/a><\/p>\n

Meet the Disrupt 2020 \u2018TC10\u2019<\/a><\/p>\n

Presenting TechCrunch Disrupt\u2019s Asia sessions<\/a><\/p>\n

Learn how to scale social impact startups at Disrupt with Phaedra Ellis-Lamkins and Jessica O. Matthews<\/a><\/p>\n

Benchmark\u2019s Peter Fenton is joining us at Disrupt<\/a><\/p>\n

Learn why embedded finance is the future of fintech at Disrupt<\/a><\/p>\n

Laura Deming, Frederik Groce, Amish Jani, Jessica Verrilli and Vanessa Larco are coming to Disrupt<\/a><\/p>\n

Carbon Health\u2019s Eren Bali and Color\u2019s Othman Laraki will join us at Disrupt 2020<\/a><\/p>\n

Black founders can get tactical advice at Disrupt<\/a><\/p>\n

Five real reasons to attend Disrupt 2020 online<\/a><\/p>\n

Hear from experienced edtech investors on the market\u2019s overnight boom at Disrupt 2020<\/a><\/p>\n

Startup Alley exhibitors: Register for VC-led Fundraising & Hiring Best Practices webinar<\/a><\/p>\n

Here\u2019s how you can get a second shot at Startup Battlefield<\/a><\/p>\n

Two weeks left on early-bird pricing for TC Sessions: Mobility 2020<\/a><\/p>\n

Grab your student discount pass for TC Sessions: Mobility 2020<\/a><\/p>\n

Register for our last pitch-off next week on September 2<\/a><\/p>\n

Extra Crunch discount now available for military, nonprofits and government employees<\/a><\/p>\n

Across the week<\/h2>\n

TechCrunch<\/em><\/p>\n

The pandemic has probably killed VR arcades for good<\/a><\/p>\n

Femtech poised for growth beyond fertility<\/a><\/p>\n

Five proven ways to attract and hire more diverse talent<\/a><\/p>\n

Will automation eliminate data science positions?<\/a><\/p>\n

Eduardo Saverin on the \u2018world of innovation past Silicon Valley\u2019<\/a><\/p>\n

The H-1B visa ban is creating nearshore business partnership opportunities<\/a><\/p>\n

Meet the startups from Brinc\u2019s first online Demo Day<\/a><\/p>\n

Extra Crunch<\/em><\/p>\n

What can growth marketers learn from lean product development?<\/a><\/p>\n

Alexa von Tobel: Eliminating risk is the key to building a startup during an economic downturn<\/a><\/p>\n

As DevOps takes off, site reliability engineers are flying high<\/a><\/p>\n

How to establish a startup and draw up your first contract<\/a><\/p>\n

COVID-19 is driving demand for low-code apps<\/a><\/p>\n

Synthetic biology startups are giving investors an appetite<\/a><\/p>\n

Funding for mental health-focused startups rises in 2020<\/a><\/p>\n

Box CEO Aaron Levie says thrifty founders have more control<\/a><\/p>\n

#EquityPod<\/h2>\n

From Alex Wilhelm<\/a>:<\/p>\n

Hello and welcome back to\u00a0Equity<\/a>, TechCrunch\u2019s venture capital-focused podcast (now on Twitter!<\/a>), where we unpack the numbers behind the headlines.<\/em><\/p>\n

This is the fourth episode of the week, pushing our production calendar to the test. Happily, we\u2019ve managed to hold it together amidst the news deluge that the last few days have brought. It was a good week for our scheduling change, with the main episode of the show coming to you on Thursday afternoon versus Friday morning.<\/em><\/p>\n

Change is good.<\/em><\/p>\n

But unchanging this time around was our hosting lineup, with\u00a0Natasha Mascarenhas<\/a>\u00a0and\u00a0Danny Crichton<\/a>\u00a0and\u00a0myself<\/a>\u00a0yammering with\u00a0Chris Gates<\/a>\u00a0on the mix. Here\u2019s what we got into:<\/em><\/p>\n