People are flocking to sextech startups ahead of the ‘hot vax summer.’ VCs are taking note.

Sextech startups

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Welcome to this weekly roundup of stories from Insider’s Business co-Editor in Chief Matt Turner. Subscribe here to get this newsletter in your inbox every Sunday.

What we’re going over today:

People are flocking to sextech startups, and VCs are taking note. 
Goldman Sachs’ CEO is shaking up the bank — and it’s pushing some top execs to the exits.

Six families open up about overpaying, losing bidding wars, and settling for fixer-uppers in a bonkers housing market.
The most transformative CEOs of 2021.

What’s trending this morning:

Google’s push to bring employees back to offices is frustrating some employees: They say they’ll quit if they can’t be remote forever.

Investment banks are racing to staff up: One recruiting firm has even formed a “SWAT team” focused on hiring associates and VPs.

WarnerMedia org chart: We mapped out the 112 most powerful people at WarnerMedia after CEO Jason Kilar’s leadership shake-up.

Etsy is awash with illicit products : The online marketplace is overflowing with listings for products it says it bans.

Your glassware is too big: And other advice about drinking.

Sextech startups are booming

As Americans prepare for a “hot vax summer,” people are flocking to sextech startups for all things sexual wellness. We spoke with five startups that said they’re seeing consumer spending habits change already — and that VCs are also getting in on the fun:

The pandemic made getting it on more difficult for everyone.

But now that half of American adults have had at least one dose of the vaccine, that could spell the end of a year of celibacy for many. Some are turning to sexual health and wellness startups to have more titillating and safe sex in the summer of love, startup founders and investors say.

  The head of recruiting at CloudKitchens, Travis Kalanick's startup, has resigned after an internal misconduct investigation

The next several months could be boom times for companies in “sextech” and other sexual wellness businesses, from direct-to-consumer lingerie to birth-control delivery. 

More on the red-hot sextech market:

People are flocking to sextech startups to stock up on lube and lingerie to prepare for a wild summer of hookups. And VCs are taking notice.

Also read:

His biggest rival scored a $13.9 billion buyout. Now the CEO who helped pioneer the digital health industry is under pressure to make a big move.
$4.3 billion fintech darling Marqeta is planning an IPO as early as June

About a third of Basecamp employees quit after the CEO banned politics and shuttered the DEI committee. Some describe an autocratic culture.

Goldman Sachs’ CEO is changing the bank’s DNA

David Solomon, who took over as Goldman’s CEO in October 2018, has steered the bank to blowout profits and a record stock price. But with partners quitting and burnout soaring, some insiders say the executive’s hard-charging style has come at a cost: 

“David reviews businesses with a dispassionate, clinical eye,” said Jim Esposito, the cohead of Goldman’s investment banking division. “There are no sacred cows.”

On paper, it’s working spectacularly. Goldman smashed analysts’ expectations and set a revenue record in the first quarter, …read more

Source:: Businessinsider – Tech


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