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September 01, 2021 at 18:10 PM EDT
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Hello and welcome to Daily Crunch for September 1, 2021. It’s a big day in TechCrunch history in that we’ve been shuffled to a new parent company. More on that in a moment. First, Disrupt attendees, you can now hit up CrunchMatch to meet other cool folks. See you there! — Alex
The TechCrunch Top 3
As we write to you today, the TechCrunch team is busy writing thousands of words about the second day of startup pitches from Y Combinator’s Demo Day. You can read about every startup that pitched yesterday.
Now, to today’s news. First, Berlin Brands, which buys and hopes to scale brands that sell on Amazon, is now worth north of $1 billion after raising a $700 million equity-and-debt round. There is apparently infinite capital available to finance the purchase of smaller e-commerce brands.
So much so that Forum Brands also announced new capital for the activity today. Its $100 million in debt financing may sound small compared to what Berlin Brands just secured, but it’s still nine figures of dry powder.
Twice each year, we turn our attention to Y Combinator’s latest class of aspiring startups as they hold their public debuts.
For YC Summer 2021 Demo Day, the accelerator’s fourth virtual gathering, Natasha Mascarenhas, Alex Wilhelm, Devin Coldewey, Lucas Matney and Greg Kumparak selected 14 favorites from the first day of one of the world’s top pitch competitions.
Read their analysis, then come back later today for their rundown of Day Two.
(Extra Crunch is our membership program, which helps founders and startup teams get ahead. You can sign up here.)Big Tech Inc.
Today’s Big Tech news is mostly focused on feature upgrades. Enjoy!
Join Danny Crichton and Mary Ann Azevedo Tuesday, September 7, at 3 p.m. PDT/6 p.m. EDT on Twitter Spaces as they talk with Jonathan Metrick about fintech and growth marketing.