Salesforce CEO admits ‘we hired too many people’ as company lays off 7,000 workers • TechCrunch

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Hello and welcome to the middle of the week. CES starts tomorrow, so bookmark TechCrunch’s dedicated CES page to keep up with all the action. Now to the news! – Christine

TechCrunch’s Top 3

• Another round of layoffs: Paul It has the latest on what’s happening at Salesforce. The company said it would cut its workforce by 10% — roughly 7,000 people — and close offices in several markets. According to Salesforce’s SEC filing related to the case, CEO Marc Benioff said the layoffs were due to hiring “too many people that are leading to this recession.”
• Not Happy New Years.More privacy penalties and corrective measures greeted Meta as the calendar turned to the new year. The company was fined more than $410 million by the European Union for “General Data Protection Regulation (GDPR) legal complaints.” [Meta] Claims [it has] To run behavioral ads” Natasha L He wrote.
• Get food, mail your packages.Now you can access your food and packages. DoorDash is launching a new service that accepts prepaid packages and drops them off at a UPS, FedEx or USPS location. Aisha Reports.

Startups and VCs

It’s Autodesk’s turn for a competitor, and it wants to be Snaptrude. The startup took on new venture capital to take on the design giant in the architectural design space; Jagmet He wrote. Snaptrude wants to create better interoperability and cloud-based collaboration where others like Autodesk have lagged.

And we have four more for you:

• Application – very slowIf your mobile app can’t keep up, customers may turn away. Product Science, which develops mobile app performance monitoring tools, has landed $18 million to find performance flaws to reduce app lag and errors. Kyle He wrote.
• It’s all true: also in KyleSurrealDB joins the crowded managed database services industry by raising $6 million for its database-as-a-service approach.
• IP IDMarket volatility that has plagued the online grocery delivery industry has been linked to South Korean grocery startup Curly, which has canceled its IPO. Kate Reports.
• “There’s a great future in plastics.”Singapore-based AlterPacks has taken $1 million in pre-seed funding to turn food waste into food containers. Catherine He wrote.

5 points of failure between $5M and $100M in ARR

Image Credits: Javier Zayas photography (Opens in a new window) / Getty Images

Before becoming co-founder and CEO of TigerEye, Tracy Young held similar roles at construction productivity software startup PlanGrid.

Although she led the company to $100 million in ARR before being acquired by Autodesk, “I spent years trying to identify the mistakes I made in my first startup,” she wrote in TC+.

Young looks at the “five key points of failure” that are common pitfalls on every founder’s path and shares strategic tips for resolving internal conflicts, lack of product-market fit, and other obstacles.

“If these meditations help even one founder make one small mistake, I’ll consider the effort worthwhile.”

Two more from the TC+ team:

TechCrunch+ Our membership program helps founders and startup teams stay ahead of the pack. You can register here.. Use code “DC” for 15% off annual subscription!

Big Tech Inc.

Roku is expanding its product line to include 11 smart TVs that the company says it designed and built its own service. Sarah He wrote. And you don’t have to wait long to find them – they are available in early spring.

Meanwhile, the TechCrunch team at the Consumer Electronics Show (CES) in Las Vegas presented 16 stories from last night. You can find them all here, but I wanted to highlight a few that I’ve enjoyed reading so far:

And we have five more for you:

• Something that goes down: News on Twitter Manish Many users in Australia are reporting that they are experiencing service issues. Meanwhile, the social network is said to be reversing its ban on political advertising to boost its revenue. Ivan Reports.
• Up and upStellantis is set to mass-produce Archer’s electric aircraft, giving the company access to up to $150 million over the next two years. Kirsten Reports.
• Time is on your side.: Music tastes change, so to record it, Spotify’s new time capsule feature lets you revisit your music tastes a year later. Aisha He wrote.
• And some more layoffs: The new year was not good for Vimeo, where another round of layoffs affects 11% of employees. Lauren He wrote.
• A settlement has been reachedNew York’s financial regulators have settled with a $100 million fine against cryptocurrency exchange Coinbase after finding it violated anti-money laundering laws by failing to conduct adequate background checks. Amanda Reports.