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SaaS Daily – Nov 4

byJoseph Abraham
. November 5, 2021
At a Glance

The Squid Game or Crypto Scam? and Paytm raises $1.1 billion from anchor investors in India’s blockbuster IPO
Hi,
It’s raining stocks and IPOs! With the announcement by the Federal Reserve of tapering of stimulus the global stocks are on a steady rise. It calls for a moment of celebration (short-lived or long). Today is Diwali and it also calls for a celebration. Wishing everyone celebrating Diwali, a Happy Diwali ????
– Joseph, Karishma, and Angel
Here’s what is brewing in the tech and SaaS world:
‍???? Emerge Tools raises $1.7M to help make apps smaller
↩️‍ Scale AI acquires SiaSearch to give companies the same data engine superpowers that Tesla has
???? Paytm raises $1.1 billion from anchor investors in India’s blockbuster IPO
????️ Ethyca raises $7.5M, open sources Fides for developers to build privacy tools directly into their codebases
????️ Blotout raises $3M seed to build privacy-focused customer data platform
????️ E-commerce aggregator Una Brands raises $15M Series A five months after its launch
????‍ Merge raises $15M Series A for its B2B integrations platform
The Squid Game or Crypto Scam?
A new Squid Game cryptocurrency caught a lot of eyeballs, investors and users. Then, it stopped abruptly. What happened?
While the new Netflix series “Squid Game” had all the qualities for a new cryptocurrency, eventually, the truth hit light – the cryptocurrency was a scam.
On Monday morning, the value of a Squid Game crypto coin dropped from its lofty height of about $2,860 to zero. In what is widely known as a ‘rug pull’, the creators of the coin earned about $3.3 million in funds, leaving buyers dumbfounded and dry. The token’s creators abandoned the project by quickly draining liquidity from the product, driving the coin’s value to zero. In the apparent scam, there is no way the investors can withdraw their money, or even they cannot sell their coins on the platform, which is now defunct.
Initially, the crypto coin was birthed after gamers decided to design a new online version of the eponymous Squid Game, as a part of the “Squid Game” Netflix series.
Players would need to buy Squid Game cryptocurrency to play the game. But doubters and skeptics raised eyebrows about the cryptocurrency coin. For example, “Squid has been criticized for not allowing investors to resell their tokens,” reports BBC News.
CoinMarketCap., which monitors cryptocurrencies, said that the Squid coin can’t be resold. “We have received multiple reports that users are not able to sell this token in Pancakeswap. Please do your own due diligence and exercise caution while trading! This project, while clearly inspired by the Netflix show of the same name, is unlikely to be affiliated with the official IP,” according to CoinMarketCap.
Unveiling the Future: The new Distributed Enterprise
The world today is powered by applications. We have realized that there is a digital element that is interwoven and integrated with every aspect of our life. Digital transformation has given way to distributed enterprise.
Distributed enterprise is birthed from two different areas. Employees working remotely due to COVID-19 needed different enabled tools and increased flexibility. On the other side, consumers have become unavailable through traditional, physical avenues.
Distributed enterprise has thus come to be an approach that is primarily virtual, remote, and architectural to connect and digitize consumer touchpoints and reach out to support products.
How to Get Started:
Make strategic approach to pivot business models to have a foothold in market share from viable customer and consumer changes due to remote working, by utilizing “virtual first, remote first” architectural principles. Capitalize fusion teams with tools to swiftly develop and enhance the experience of customers using technologies.
How It’s Used Today:
Armoire’s digital dressing room allows customers to try styles virtually.
What are we reading:
???????? US sanctions four companies selling hacking tools, including NSO Group & Candiru – The Record
???? Brain implants could be the next computer mouse – MIT Technology Review
???? Facebook skirts Apple’s App Store fees with custom subscription links for creators – The Verge
???? Allbirds’ strong IPO suggests investors are on board with sustainable fashion – Fast Company
???? The United Nations Could Finally Create New Rules for Space – Wired
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Author
Joseph Abraham
Joseph Abraham is the Founder and CEO of SaaS Industry. Prior to this, Joseph served as the CEO and Principal Consultant for Growthfluence, a global SaaS research and advisory company. He has also served on the leadership of Royal Bank of Scotland and Great Lakes Institute of Management
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