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Daily Crunch: Amazon wades deeper into healthcare with its $3.9B purchase of One Medical

Daily Crunch: Amazon wades deeper into healthcare with its $3.9B purchase of One Medical Image
  • Posted on 21st Jul, 2022 22:33 PM

Hello, friends, and welcome to Daily Crunch, bringing you the most important startup, tech and venture capital news in a single package.

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Well hello again! It’s Thursday — heat waves are heat wavin’, and all of TechCrunch is psyched about a fun and engaging Robotics event today. That’s not all that’s happening, though. We’ve had 70 new stories on the site since our last newsletter, which means that we got to learn about all sorts of wild and wonderful happenings in our world of startups and company building. It was extra-double-plus hard to select the best of the best for the newsletter, but we tried our best. Enjoy!  — Christine and Haje

The TechCrunch Top 3

  • Amazon grabs a stethoscope: Amazon showed its continued interest in healthcare by announcing its intent to acquire primary medical provider One Medical for $3.9 billion. Ingrid writes that details are a bit thin as to how One Medical will integrate with Amazon, but it has people on Twitter wondering what the marketplace behemoth will do next. And that’s just the kind of thing that Alex is good at. He dives into the deal to let us know just what Amazon is getting for its billions.
  • Someone’s got their eye on you: Manish brings us an update on Indian edtech giant Byju, which you might recall fired hundreds of employees a month ago. Now it seems like it will have some legal troubles to contend with. A lawmaker is calling for an investigation into the company’s finances.
  • It’s not goodbye forever: Airbnb co-founder Joe Gebbia made waves today, announcing that he was stepping back from his role after 10 years to spend some time with family and see what else sparks his interest, Kyle reports. Gebbia will stay on the company’s board in an advisory role.

Startups and VC

Today has been a cavalcade of robotics. The articles that caught our eye in particular were Brian‘s story, asking whether universities are doing enough to foster robotics startups, and Kirsten’s piece on Agility’s next Digit robot, which will have a face and hands. Also, don’t miss Brian’s Actuator newsletter, which covers what’s happening in Robotics world. The most recent issue came out yesterday.

We were delighted to see TextExpander — who’ve been around for a hot minute but have been bootstrapping to date — raise a $41 million round of financing, as Ingrid reports. The company makes business communications faster by creating modular extendable text macros.

The other not-to-be-missed story today is Anita and Natasha M’s WTF is a 409A — a crucial piece you need to understand if you want any hope of understanding startup valuations in the U.S.!

Growth cheat code: Use fractional hiring to stay on plan when cutting costs

A crowd of people wearing red, yellow, green and blue coloured shirts, forming a pie chart shape; fractional hiring for startups, hiring contractors

Image Credits: Henrik Sorensen (opens in a new window) / Getty Images

As winter winds begin to blow, major tech companies like Google, Microsoft and Lyft have each instituted hiring freezes.

Likewise, early-stage startups are under pressure to reduce burn while preserving forward momentum, but “fractional hiring is a growth cheat code” when used strategically, says Teja Yenamandra, co-founder and CEO of Gun.io.

“There is now way less competition for the talent you’re hiring, and you may be able to lock in a hire who was unaffordable a few months ago.”

Daily Crunch: Amazon wades deeper into healthcare with its $3.9B purchase of One Medical View Story

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