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The week in Italian startups - Issue #16

The week in Italian startups - Issue #16
By Niccolò Sanarico • Issue #16 • View online
Ciao a tutti,
first of all, happy (belated) 4th of July to all the American friends reading this issue!
Secondly, this was a busy week in terms of news: a new digital bank raised a sizeable round, investments are going into space startups (cosmic rays!) and a few international partnerships were announced. The market is thriving.
Now, on to the news!

The Money
The acquisition I missed
This week in partnerships
  • MusixMatch [cb], a realtime lyrics & song translations startup, announced a strategic partnership with Spotify. According to the announcement, Spotify agreed to adopt MusixMatch technology to show real-time lyrics of the songs played in the Spotify app. The service should already be available in 26 countries.
  • Paypal announced a partnership with Esselunga, one of the major supermarket groups in Northern Italy (>150 malls, >23K employees, ~€8Bn revenues). Customers will be able to pay for their online groceries by using Paypal. The announcement once again is proof of the push towards online commerce caused by the pandemic.
  • Altido, a pan-European vacation rental management company with a portfolio of 1.8K properties, 🇮🇹 selected Vikey as the technology partner for self-check-in. Vikey [cb] was founded in 2016 and aims at serving 5K properties in the coming months.
Tweet of the week
Retention is a fundamental metric for many startups, yet it is often overlooked or misunderstood. Not having comparable data is one of the issues. The tweet below (and the related post) provides some useful reference points from the market.
Lenny Rachitsky
What is good user retention? Advice from the experts:

• Consumer Social: 25%👌 45%🔥
• Consumer Transactional: 30%👌 50%🔥
• Consumer Subscription: 40%👌 70%🔥
• SMB / Mid-Market SaaS: 60%👌 80%🔥
• Enterprise SaaS: 70%👌 90%🔥

(Read on)
Reports & research
Ending notes
This concludes this week issue. If you liked it, feel free to share it with your friends. Or hit reply for feedback!
Take care and have a great week,
Nico
Supported by VC Hub Italia
Supported by VC Hub Italia
Did you enjoy this issue?
Niccolò Sanarico

The week in Italian startups is a weekly collection of the most interesting news in the Italian startup ecosystem, with a focus on funding rounds, milestones, major partnerships, and innovation news. The weekly email will be in your inbox on Monday morning(-ish).

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