Daily Crunch: Hackers pinched LastPass customers’ encrypted password vaults, parent company admits

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What’s up, Crunchers? Good to see you again! We’re so glad to have you with us. It’s been a really busy day on the site today, and Haje has been busy getting real grumpy at Tesla for not recording the car crash he was in today. (He’s fine. Or at least, as fine as he was before the car crash.)  — Christine and Haje

The TechCrunch Top 3

  • Apparently the hacker’s LastPass wasn’t truly the last one: Two months after LastPass experienced a breach, we are now learning more about what the hackers got. Carly writes that the company’s owner, GoTo, says hackers stole customers’ encrypted backups.
  • If you like the great outdoors: Strava, the activity tracking and social community platform, acquired Fatmap, a 3D mapping platform for the great outdoors, to make that next hike a doozy, Paul reports.
  • What’s up with WhatApp: Ivan is following a developing story about WhatsApp releasing its native macOS client in public beta. He writes that “until now, Mac users had to rely on either WhatsApp for the web or its web-based WhatsApp client. Both are not ideal in terms of performance or getting a full-featured experience.”

Startups and VC

It’s a tough time to be a richly priced company that didn’t go public when the getting was good. Not only are there fewer later-stage players with the resources and appetite to support such companies (e.g., SoftBank and Tiger Global have pulled back dramatically), but also secondary investors have even lost interest. At least, that’s Connie’s read of a new report, in her excellent article Opportunistic investors are giving up on aging pre-IPO companies.

Connie also reported that Cowboy Ventures closed two new funds totaling $260 million in capital commitments. The outfit garnered $140 million in commitments for its fourth flagship fund and another $120 million for its first opportunity-type fund (its “Mustang Fund”).

And we have five more for you:

A VC’s perspective on deep tech fundraising in Q1 2023

A tunnel full of technology

Image Credits: Xi Huo (opens in a new window) / Getty Images

Successful deep tech startups and SaaS companies generally reach billion-dollar valuations in the same time frame.

“The median deep tech startup took $115 million and 5.2 years to become a unicorn,” says Karthee Madasamy, managing partner at MFV Partners.

New companies in this sector raised around $600 million last year, a steep decline from $800 million in 2021. But Madasamy says recent climate regulation, automation and space are just a few factors stirring investors’ interest during this downturn.

“As it becomes increasingly difficult to realize big exits in the years ahead, the technologies within deep tech that are transforming entire industries offer some of the only paths to ’10x exits.’”

Three more from the TC+ team:

TechCrunch+ is our membership program that helps founders and startup teams get ahead of the pack. You can sign up here. Use code “DC” for a 15% discount on an annual subscription!

Big Tech Inc.

Selling or renting a home comes with all sorts of fun, including having to vacate at a moment’s notice and strangers walking around your home. If there could be a rainbow amid the rainstorm, it’s Zillow wanting to make booking a home tour for rentals easier. Enter its Calendly-like instant booking feature that can be used without having to get in contact with anyone. Ivan writes that the feature is already available for thousands of properties and will eventually include the ability to choose between a virtual, in-person or self-guided tour.

Now here’s five more:

Daily Crunch: Hackers pinched LastPass customers’ encrypted password vaults, parent company admits by Christine Hall originally published on TechCrunch



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