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The current startup landscape has shifted recently due to multiple reasons, but mainly due to rising interest rates, mounting inflation fears, and a potential recession. Public market valuations have crashed down from Covid highs while investors have started pulling out of the market due to uncertainties. This has also translated to tighter private markets in terms of capital raises at current or previous valuation marks. Venture capitalists have started reevaluating their position on investing in growth and large TAMs and are now looking to fund great fundamental businesses with strong unit economics. With term sheets getting pulled from founders, and investors reluctant to invest at high valuations, founders need to start preparing for the next 12-18months. We’ve already seen big tech companies freeze hiring or cut some resources. SMBs and other startups will soon follow if they haven’t already to get ready for the upcoming “winter”. Few notes to conclude this topic:
Great companies will still get funded, but there might be a slowdown in capital raises as people evaluate the market and current valuation landscapes.
Simplify your business model and focus on what you are good at to maintain or get to product-market fit. There might not be a safety net of additional capital raises to catch you if you fail
Focus on core business and team and focus on your unit economics.
If you are fundraising right now, close the round as soon as possible.
Read the following articles to get more acclimated to the current market and get prepared for what’s coming in the next few months:
State of the Current Market by Redpoint Ventures
Operating during a downturn by Craft Ventures
A Framework for Navigating Down Markets by Andreessen Horowitz
The upside of a downturn by Lightspeed Venture Partners
YCombinator’s message to founders
2022 SaaS Crash by Meritech Capital
Did you read any other interesting articles about the market downturn? If so, please send them to me!
We are still fundraising for a TUMO box in Armenia to offer education to the youth. Every dollar gets matched! Your $5 donation will become $10! With your support, we will be able to give the opportunity to over 320 kids to attend this institution and provide all the tools they need to create their own future within Armenia. Reach out to us if you are interested in partnering with us on this project.
Armenian Tech News 📣
💸 PayEngine, The unique payments platform for vertical market software vendors, secures a $10M Series A! Congrats to the team!
🏆 Cauldron, got ranked as the #1 product of the day. They help you to convert, screen and win candidates with role-specific job pages. Role-specific job pages to screen and hire 3x faster. Creattie, a premium animations tool for developers & UI designers and doodooc, an online generative music visualization platform received #2 product of the day.
🚨 DISQO acquired Feedback Loop, allowing small and medium-sized businesses to use its platform. Read about it here. Also, Staytuned has acquired Moonship, the leading Shopify app for creating personalized discounts that help you convert on-the-fence shoppers.
🚀 The Orion Summit 2022 will be held for rapid growth and strong positioning of Armenia via Mergers and Acquisitions (M&A) opportunities. The event will take place on June 27, at the Matenadaran in Yerevan.
🌏 STARMUS VI international festival to be held in Armenia from Sept 6, 2021 – Sept 11, 2021. Starmus is a global festival of science communication and art that brings together the most brilliant minds on the planet.
💰 BigStoryVC has invested $250,000 in ProdMap and $200,000 in BlueQubit.
Excited to announce a new initiative that was recently launched called Hye Combinator! Hye Combinator is a mentorship, coaching, and guidance resource for our thriving tech entrepreneurs in Armenia. They have brought together a diverse group of ~25 highly qualified and accomplished Armenian professionals, or mentors, who will act as a resource to these entrepreneurs. Their mentors, who are both proven tech founders and tech investors, are dedicating their time, energy, and resources for the common goal of accelerating the technology ecosystem in Armenia. Hye Combinator wants to help entrepreneurs take their companies to the next level. Entrepreneurs will be able to get the help they need, whatever that may be - business basics, strategy, and tactics, pitchbook deep dives, hiring, introductions and relationships, fundraising, and so forth. You can find additional information and an application to apply on their website.
What we’re following 🚀
Entrepreneurship:
The Angelist Founder Stack is great for new founders
Strive to be a Gorilla, not just a unicorn by Susa Ventures
How to validate your startup idea by Lenny Rachitsky
Employees Crave Asynchronous Work. Here's How to Do It Right by Hovhannes Avoyan
In Armenia’s biotech boom, remarkable women are leading the way by Lara Setrakian
Crypto / Web 3.0:
The Future of Crypto Native Consumer Products by Mercedes Bent
Introducing the 2022 State of Crypto Report by Daren Matsuoka, Eddy Lazzarin, Chris Dixon, and Robert Hacket
Jobs 💼
Leap Technologies is looking for sales reps for European and North American (US and Canada) markets. + An AI Accelerator, Next AI, based in Montreal, Canada is looking for a business coordinator. If you are interested in either role, contact me for more information!
ARLOOPA is hiring a PHP Developer. Apply today!
Monbanc is looking for a Loyalty Program Director. Check their posting out!
Expper Technologies is looking for an upbeat, creative, and experienced digital marketing specialist!
SuperAnnotate is looking for a Project Coordinator in Yerevan
Startup spotlight 👨💻👩💻
ANIV, founded by Albert Manukyan, is a Cloud base micro-mobility platform that gives an opportunity for local entrepreneurs and cities to start micro-mobility businesses such as electric bicycles, and scooters. ANIV single app allows multiple franchises to scale the network, efficiently manage the fleet using AI data-driven modules, and generate income from the rides and the advertisement platform.
Don’t forget to donate to our TUMO Box project. Read about it in our previous post!
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