Welcome again to Last Month In Tech!
We’re back with our monthly tech download, with a roundup of the best bits from the past four issues of The Slintelegram, our weekly newsletter. From handpicked industry news to business alerts, growth stories, sales lessons, and marketing insights—we’ve got it all!
The month of August ‘21 saw some noteworthy events. With Salesforce announcing that it’s working on a streaming service and FullStory raising a whopping $103 mil in funding, this month was as exciting as any other in tech.
Without further ado, let’s dive right into it!
Funding Alerts from the Month
India’s BharatPe valued at $2.85 billion in Tiger Global-led $370 million funding. – Looking to aggressively scale its business in the next two years. This is the 19th Indian startup to become a unicorn this year (up from 11 last year), as several high-profile global investors double down in the South Asian market.
Reddit is raising up to $700M in Series F funding. The popular website now attracts 50 million daily visitors and hosts 100,000 active subreddits. In March, it announced Drew Vollero would be joining as the site’s first-ever CFO, after assisting with Snap’s IPO efforts, four years prior.
Mailchimp is reportedly eyeing a sale at a $10 billion valuation. The bootstrapped startup is still fully owned by its founders, Ben Chestnut and Dan Kurziusis, and reported $700 million in sales in 2019 owing to the massive boom in email marketing.
FullStory raises $103M at a $1.8B valuation to combat rage clicks on websites and apps The Atlanta-based company platform that marketers swear by, has closed a Series D round of $103 million and even trademarked the phrase “Rage Clicks”.
Hootsuite acquires conversational AI startup Heyday for $60 Million. The pioneer in social media management, Hootsuite aims – ❝ to make buying from a brand as easy as messaging a friend❞
HubSpot gets a new CEO! Boston-based CRM company HubSpot’s co-founder and CEO Brian Halligan steps down from his present role into the executive chairman role and Chief Customer Officer Yamini Rangan takes over as CEO.
Salesforce announces first integrations with Slack after closing $28B sale. For starters, the Sales Cloud gets dedicated deal rooms, where all of the parties involved in a complex sale, whether internal departments like finance and product people or external partners, can come together in Slack throughout the sales cycle and stay on top of the ebb and flow of all the sales activity.
From the World of Technology
Oh, Facebook changed its privacy settings. Again. Read about it here.
U.S. lawmakers demand info on TikTok’s plans for biometric data collection. Shortly after paying a fine of $92 million earlier this year to settle a class-action lawsuit about unlawfully collected users’ biodata, TikTok has made Senators in the US unhappy yet again as per claim that they have quietly expanded to collect from its 100+ million users “faceprints and voiceprints” too.
Salesforce wants Salesforce+ to be the Netflix of biz content. With this on-demand video platform streaming business content around the clock, Salesforce aims to help struggling companies quickly transform into fully digital entities.
Twitter’s Image-Cropping Algorithm Favors Younger, Slimmer and Lighter Faces, Competition Winner Finds. Twitter users last October spotted that the tool, when given a choice of things to pick, seemed to zero in on people with lighter skin and women’s chests. Twitter admitted its engineers probably needed to conduct more tests, however, dismissed evidence of racial or gender bias.
OnlyFans decided to move towards a SFW platform, received a lot of backlash, then proceeded to drop the porn ban, all in a week. While it did initially seem like another case of Founders swaying where the money is — at the cost of ditching the OG creators who first put ’em on the map. OnlyFans’ payment partners might have been nudging the death of their NSFW ops. And they quickly turned around to stick with the explicit content.
Managers, Here’s How to Bond with New Hires Remotely – By Iavor I. Bojinov & Prithwiraj Choudhury at Harvard Business.
❝The researchers found that interns who shared Zoom time with senior managers were 4.7 to 7.3 percent more likely to be offered a job than the other two groups who didn’t have regular online contact with supervisors. (What’s more, interns had a 9 to 13 percent better chance of receiving job offers if they interacted with managers of similar gender or ethnic origin.) The virtual watercooler sessions with managers also improved the job performance of those interns by 7 to 10 percent.❞
This article explores the findings as published in Harvard’s Business Review where a research experiment with about 3,000 undergraduate and MBA students was conducted. These students had to work for eight to 10 weeks at one of the firm’s locations as part of an internship. The interns were then trained and worked alongside experienced firm employees. “The interns would literally sit next to full-time employees and watch what they did,” Bojinov says.
Meme Corner: Cookies – Do we hate ’em? Love ’em?🍪
Giveaway Alert: The Ultimate Sales Quiz Contest is now live!
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Ask Slintel – The section where you ask our experts a question and they write back
“Hey Anupreet, how do I skip the awkward negotiation phase when closing deals with a prospect? I hate it and all my relationship nurturing goes downhill as I feel like now I need to start lying with a straight face in order to avoid excess discounts.”
Here’s Anupreet’s response:
“What a fantastic question!
Let me start off by saying the majority of salespeople grow exceedingly uncomfortable & turn on an “ok It’s time to start lying!😰” switch when asked about discounts. So you’re not alone 🙂
But hear me out, if your prospect can offer back incredible value, there is no reason why you should deny them a 30% discount (if you know very well that it’s feasible). You could keep a max cap, sure, but also give them a chance to get it all.
Basically, if they sign up early, give them a flat 5% discount. If they refer you to someone, add another 5%. Ready to share a testimonial video in a month’s time? Take another 5%. Cap it at 30%. But let them avail the maximum discount you’re allowed to share instead of playing mind-games! You could check out this clip from my recent talk with Todd Caponi for more on this!
Hope this helps!”
From The Slintelegraph
This section highlights some of the picks from our blog – The Slintelegraph! Here’s a sample of what was in store for August.
In what’s been one of our most loved and popular content pieces on our social media channels, we give you answers here for all those tough objects your prospects throw your way. So you go on closing ’em deals without sparing a min’s thought! For example:
Objection #1: Your product/service is too expensive.
Rebuttal Template: “I’d love to take you through the product and its features that will equip you to address the pain points you discussed with me.”
Read all 18, here!
[Webinar recording] RevOps Special: Rambling Sessions #11 on August 12th, 2021
Revenue operations is the secret ingredient that can help scale revenues to unimaginable heights when done right. So we’re calling our favorite SMEs—Rajesh Bhattad, Marc Belgrave, and Siva Rajamani to show you how it’s done. You can watch it here.
Podcasts, Free Tools, and More
#51: Not All Fun and Board Games by Business Insider. Monopoly was invented by Lizzy Magie—an anti-capitalist, brilliant woman—to teach the evils of capitalism and make a point about landowning and economic inequality. The original Game of Life was about reaching a happy old age, not “Millionaire Acres.” How did these games become the versions we play today?
Nestflix: For all those fanfictions Netflix would never release.
A platform for nested films and shows. Fictional movies within movies? Got ‘em. Fake shows within shows? You bet. Over 400 stories within stories for you to g̶e̶t̶ ̶c̶o̶n̶f̶u̶s̶e̶d̶ ̶o̶v̶e̶r̶ browse through this weekend.
We hope this post has helped you catch up with all the industry highlights from the month of August. Subscribe to our weekly newsletter and we’ll have all this and more delivered straight to your inbox. Stay tuned!