This week, the richly funded unicorn startup announced a pair of acquisitions in the emotional artificial intelligence and people management space: Motive and Impraise.BetterUp announced its acquisitions after a busy stint, which included passing $100 million in annual recurring revenue, expanding to Europe, and hitting 1 million individual coaching sessions on its platform.Â ?
Itâ€™s par for the course to see a growth-stage startup use milestones to inorganically expand through acquisitions.BetterUp claims that it pioneered the category of coaching by focusing on employees, not just C-suite executives.
With these acquisitions, itâ€™s shifting how that coaching looks and lives.
Like Motive, Impraise is a step outside of the traditional boundaries of what coaching looks like.Â .
â€œIt doesn’t actually happen in coaching sessions; change happens after.â€.In some ways, these acquisitions are BetterUp admitting that coaching for all employees has to be an end-to-end solution that requires everyone in the company – from HR to managers – to be involved.
â€œIf you donâ€™t have the data platform, if you donâ€™t have the outcomes.Intuit confirms $12B deal to buy Mailchimp.Hereâ€™s what to know: Part of Mailchimpâ€™s strategy as an untraditional tech company included not giving Mailchimp employees equity, and prioritizing profit-sharing as well as higher salaries.
It sounds good, until your startup exits for $12 billion and you realize you donâ€™t have any equity in the business that you helped build.My scoop this week uncovered that Casper, the direct-to-consumer mattress company, had another round of layoffs that impacted two dozen employees, as well as its CMO, CTO and COO.Hereâ€™s what to know: One founder in the direct-to-consumer space, who spoke on the condition of anonymity due to her lack of direct knowledge with the company said that Casperâ€™s layoffs could also be a response to Appleâ€™s iOS 14.5 update, which will crack down on apps that track usersâ€™ data without permission.
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