The world is your canvas [Westend61 via GettyImages]
Lots of startup ideas sound like: "The Uber for..." "The Facebook of..." This one has no parallel: Colossal raised $15M to bring the woolly mammoth back to life from extinction.
Stocks rebounded yesterday with their best daily gain in two weeks, as oil and the energy sector rallied.
BTW: We know some of you aren't snacking today. Happy New Year and an easy fast to Snackers observing Yom Kippur!
Presentation deck looking like a Picasso... Sydney-based startup Canva wants to make graphic design accessible to non-design pros. You might've used it to create snazzy flyers, Insta carousels, and that presentation you forgot was due yesterday. Those DIY design templates just helped Canva raise $200M at a whopping $40B valuation, up from $15B barely five months ago.
Like a blank Bob Ross canvas... Canva went 0 to 60 real quick. CEO Melanie Perkins and her team launched Canva as a free product in 2013, and eventually introduced "freemium" and enterprise layers. Canva now has:
Canva is fuel for the era of “Tap-anomics”... We've gone from in-store shopping, to Instagram shopping. During the pandemic, corporate America realized the importance of tap-ability: the number of "taps" companies receive is closely related to their posts' aesthetic. Companies don't need to hire a million pro designers — they just need professional-looking designs that are easy for employees to collab on. That simplicity helped Canva notch its eye-watering valuation.
Sorry, Elon… Earlier this week, Rivian produced the first electric truck that will actually end up in customers’ driveways — competitors like Tesla, Ford, and GM merely unveiled prototypes. The e-truck startup has raised $10.5B+ from investors including Amazon and Ford, and is seeking to go public at an $80B valuation. The deets on its R1T pickup:
A truckload of competition… Some analysts expect the e-truck industry will more than double between 2020 and 2026. Large automakers like Ford, GM, and Tesla have spent years developing smaller EVs. But by staying laser-focused on trucks, Rivian crossed the e-truck finish line first. Others are expected to follow:
Trucks could be the real EV ambassadors… America may be the home of the brave, but it’s also the land of the F-150. Pickup trucks accounted for half of the US auto industry’s top 10 best-selling vehicles last year, and the three best-sellers were all pickups. The best bet for automakers to pull Americans into an EV future could be towing them there... with e-pickups. If the US builds as many EV charging stations as Biden hopes, the success of e-truck makers may come down to pricing, timing, and range.
Authors of this Snacks own shares of: Tesla, Ford, Disney, Walmart, Microsoft, and GM