February 3, 2023

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2 weeks after a long system failure, Alibaba CEO takes over the company’s cloud division • TechCrunch

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We’re almost there folks. It’s the last Thursday of 2022, and today we bring you some news from Alibaba and Spotify, as well as some crypto news from India. And as always, we’re giving you a goodie from TC+, our premium membership program. Read on, dear readers, and we’ll be back tomorrow to bring you the final tech moments of 2022. — hp

The TechCrunch Top 3

Alibaba’s cloud move: Alibaba Cloud has a new President, Rita reports. The third-largest public cloud infrastructure provider in the world, behind only AWS and Microsoft, has named Daniel Zhang, the company’s CEO, as acting president. Ring in on Spotify: aisha writes that the platform wants to help you welcome 2023 in style with what you think you might enjoy. Playlists like “Party Hits”, “Floor Fillers”, “Pop Party” and “Rock Party” accompany you until after midnight. The hub also gives you some DJ mixes from the likes of TT the Artist, Carlita, AMÉMÉ, Coco & Breezy, &ME and Austin Millz. down! Indian Crypto Regulation: During its G20 presidency, India has announced that it will prioritize developing a framework for global regulation of unsecured crypto assets, stablecoins and decentralized finance, writes Manic.

Startups and VCs

Remember: Catherine writes that Recall.ai has raised $2.7 million in a seed funding round to help create a unified API that works with Zoom, Google Meet and Microsoft Teams to help customers build apps for a range of support use cases. Down rounds: Maria Ann spoke to GGV’s Hans Tung and Robin Li about the company’s position in a challenging venture environment. (Requires TC+ subscription.)

Redefining “founder-friendly” capital in the post-FTX era

Chocolate money coins stacked on white

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Could the FTX debacle have been prevented if investors had taken a more active interest in the company’s operations?

Given the cold climate for late-stage fundraising and widespread economic uncertainty, “it’s time for the startup community to redefine what ‘founder-friendly’ capital means and reconcile both the source and cost of that capital ‘ writes Blair Silverberg, co-founder and CEO of Hum Capital.

In a TC+ guest post, he weighs the relative merits of active versus passive investors, breaks down the basics of startup debt financing, and offers advice “for founders looking for a better balance of capital and outside expertise for their business.”

TechCrunch+ is our membership program that helps founders and startup teams stay ahead of the competition. Here you can sign up. Use code “DC” for 15% off an annual subscription!

Looking back and looking ahead

We’ve rounded up the best of our TC+ coverage from the rollercoaster year in crypto. Not enough? jacquie provided us with a few extras to squeeze more pulp out of the crypto juice:

Ron took a look at private equity, which dominated this year’s top 10 corporate M&A deals. The deals totaled nearly $154 billion. (Requires TC+ subscription.)

Rebekah has some ideas about what’s in store for the micro-mobility market in 2023 – after what she calls a “turbulent” year.