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Daily Crunch: Facebook brings news sharing back to Australia

The Facebook-Australia news battle seems to have reached an end, Android gets an update and Lucid Motors is going public via SPAC. This is your Daily Crunch for February 23, 2021.

The big story: Facebook brings news sharing back to Australia

Last week, Facebook responded to the Australian government’s proposed law requiring internet platforms to strike revenue-sharing agreements with news publishers by blocking news sharing and viewing for users in the country. But with the government amending the law, Facebook said it will restore news sharing in the “coming days.”

Among other things, the amendments call for a two-month mediation period before Facebook is forced into arbitration with publishers, and it also says the government will consider commercial agreements that the platforms have made with local publishers before deciding whether the law applies to them.

William Easton, Facebook’s managing director for Australia and New Zealand, said in a statement that the amendments address “core concerns about allowing commercial deals that recognize the value our platform provides to publishers relative to the value we receive from them.”

The tech giants

Android’s latest update will let you schedule texts, secure your passwords and more — This update will integrate a feature called Password Checkup to alert you to passwords you’re using that have been previously exposed.

Twitter relaunches test that asks users to revise harmful replies — Twitter is running a new test that will ask users to pause and think before they tweet.

Area 120 is beginning to use Google’s massive reach to scale HTML5 GameSnacks platform — GameSnacks is an HTML5 gaming platform where titles are bite-sized and load much faster.

Startups, funding and venture capital

Lucid Motors strikes SPAC deal to go public with $24B valuation — This will be the largest deal yet between a blank-check company and an electric vehicle startup.

Shippo raises $45M more at $495M valuation as e-commerce booms — The startup provides shipping-related services to e-commerce companies.

Reddit ups Series E round by another $116M — Reddit had already announced a $250 million Series E earlier this month.

Advice and analysis from Extra Crunch

How to overcome the challenges of switching to usage-based pricing — The usage-based pricing model almost feels like a cheat code, according to OpenView’s Kyle Poyar.

Oscar Health’s initial IPO price is so high, it makes me want to swear — Alex Wilhelm doesn’t mince words: “Public investors have lost their damn minds.”

RIBS: The messaging framework for every company and product — The test is designed to tell you if your story is memorable, so you can turn it into a compelling message.

(Extra Crunch is our membership program, which helps founders and startup teams get ahead. You can sign up here.)

Everything else

Announcing the complete agenda for TC Sessions: Justice — Our second-ever dedicated event to diversity, equity, inclusion and labor in tech is coming up on March 3.

Six Miami-based investors share their views on the region’s startup scene — Investors see a huge opportunity for the region to become a major startup hub by utilizing its diverse workforce and wonderful quality of life.

SolarWinds hackers targeted NASA, Federal Aviation Administration networks — Hackers are said to have broken into the networks of U.S. space agency NASA and the Federal Aviation Administration as part of a wider espionage campaign.

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 3pm Pacific, you can subscribe here.

Daily Crunch: Uber loses UK legal challenge

Uber loses a legal battle over driver classification, we survey mobility investors and new data suggests a COVID-19 vaccine should be easier to transport. This is your Daily Crunch for February 19, 2021.

The big story: Uber loses UK legal challenge

The United Kingdom’s Supreme Court has reaffirmed earlier rulings that the Uber drivers who brought the case — which dates back to 2016 — are workers, not independent contractors.

“Drivers are in a position of subordination and dependency in relation to Uber such that they have little or no ability to improve their economic position through professional or entrepreneurial skill,” the court said in a statement. “In practice the only way in which they can increase their earnings is by working longer hours while constantly meeting Uber’s measures of performance.”

Uber, while acknowledging the decision, emphasized that it applies to the specific group of drivers who brought the case, many of whom are no longer driving through the app.

Startups, funding and venture capital

Ex-General Catalyst and General Atlantic VC announces $68M debut fund — New York-based Avid Ventures is launching its $68 million debut venture capital fund.

With $20M A round, Promise brings financial flexibility to outdated government and utility payment systems — Promise integrates with official payment systems to offer more forgiving terms for fees and debts that people can’t handle all at once.

Acast acquires podcasting startup RadioPublic — RadioPublic spun out of public radio marketplace PRX in 2016.

Advice and analysis from Extra Crunch

Ten investors predict MaaS, on-demand delivery and EVs will dominate mobility’s post-pandemic future — The COVID-19 pandemic didn’t just upend the transportation industry, it laid bare its weaknesses and uncovered potential opportunities.

A fraction of Robinhood’s users are driving its runaway growth — A closer look at payment for order flow, a controversial practice in which Robinhood is paid by market makers for executing customer trades.

Three strategies for elevating brand authority in 2021 — Advice from Fractl marketing director Amanda Milligan.

(Extra Crunch is our membership program, which helps founders and startup teams get ahead. You can sign up here.)

Everything else

Pfizer-BioNTech’s COVID-19 vaccine just got a lot easier to transport and distribute — There’s new stability data collected by Pfizer and BioNTech, which has been submitted to the U.S. Food and Drug Administration.

Dizzying view of Perseverance mid-descent makes its ‘seven minutes of terror’ feel very real — NASA has just shared a hair-raising image of the rover as it dangled from its jetpack above the Martian landscape.

Will the Texas winter disaster deter further tech migration? — It’s too early to tell the exact toll the storm has taken in loss of life, property damage and economic activity.

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 3pm Pacific, you can subscribe here.

Daily Crunch: Alibaba faces antitrust probe

Chinese authorities investigate an e-commerce giant, Google may be tightening its grip on research and VCs weigh in on the year’s biggest surprises. This is your (briefer than usual) Daily Crunch for December 24, 2020.

The big story: Alibaba faces antitrust probe

China’s State Administration for Market Regulation said that it’s investigating the e-commerce giant over a policy that forces merchants to sell exclusively with Alibaba and skip rival platforms JD.com and Pinduoduo.

“Alibaba will actively cooperate with the regulators on the investigation,” the company said in a statement. “Company business operations remain normal.”

Meanwhile, Chinese authorities have already called off the initial public offering of Alibaba affiliate Ant Group, and the company has now received another “meeting notice” from regulators.

Holiday grab bag

Google reportedly tightens grip on research into ‘sensitive topics’ — Reuters, citing researchers at the company and internal documents, reports that Google has implemented new controls in the last year, including an extra round of inspection for papers on certain topics.

Five VCs discuss what surprised them the most in 2020 — The latest episode of Equity reflects on a year that no one could have predicted.

Gift Guide: Last-minute subscriptions to keep the gifts going all year — They’re easy to order at the very last minute, easy to give from afar and they’ll spread the gifting fun out over weeks and months.

Advice and analysis from Extra Crunch

The built environment will be one of tech’s next big platforms — An in-depth look at Sidewalk Labs’ abandoned Toronto waterfront project.

US seed-stage investing flourished during pandemic — According to a TechCrunch analysis of PitchBook data and a survey of venture capitalists, a few trends became clear.

Use Git data to optimize your developers’ annual reviews — Three metrics can help you understand true performance quality.

(Extra Crunch is our membership program, which aims to democratize information about startups. You can sign up here.)

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 3pm Pacific, you can subscribe here.

Daily Crunch: Roblox is going public

Roblox opens its books, Snap makes an acquisition and Pfizer and BioNTech seek regulatory approval for their vaccine. This your Daily Crunch for November 20, 2020.

The big story: Roblox is going public

The child-friendly gaming company filed confidentially to go public in October, but it only published its S-1 document with financial information late yesterday.

How do the numbers look? Well, Roblox is certainly growing quickly — total revenue increased 56% in 2019, and then another 68% in the first three quarters of 2020, when it saw $588.7 million in revenue. At the same time, losses are growing as well, nearly quadrupling to $203.2 million during those same three quarters.

The company also acknowledged that its success depends on its ability to “provide a safe online environment” for children. Otherwise, “business will suffer dramatically.”

The tech giants

Snap acquired Voisey, an app to create music tracks overlaying your own vocals — Voisey users can apply audio filters to their voices, and they can browse and view other people’s Voisey tracks.

Despite commitment to anti-racism, Uber’s Black employee base has decreased — Uber’s latest diversity report shows a decline in the overall representation of Black employees in the U.S.

Google, Facebook and Twitter threaten to leave Pakistan over censorship law — This comes after Pakistan’s government granted blanket powers to local regulators to censor digital content.

Startups, funding and venture capital

Loadsmart raises $90M to further consolidate its one-stop freight and logistics platform — Loadsmart offers booking for freight transportation across land, rail and through ports, all from a single online portal.

ORIX invests $60M in Israeli crowdfunding platform OurCrowd — OurCrowd also says that the two groups will collaborate to create financial products and investment opportunities for the Japanese and global market.

Kea raises $10M to build AI that helps restaurants answer the phone — CEO Adam Ahmad says the startup has created a “virtual cashier” who can do the initial intake with customers, process most routine orders and bring in a human employee when needed.

Advice and analysis from Extra Crunch

If you didn’t make $1B this week, you are not doing VC right — Don’t yell at me, Danny Crichton said it!

Why is GoCardless COO Carlos Gonzalez-Cadenas pivoting to become a full-time VC — “I think this is the best moment in entrepreneurship in Europe.”

What is Roblox worth? — A deeper dive into Roblox’s numbers.

(Extra Crunch is our membership program, which aims to democratize information about startups. You can sign up here.)

Everything else

Pfizer and BioNTech to submit request for emergency use approval of their COVID-19 vaccine today — These emergency approvals still require supporting information and safety data, but they are fast-tracked relative to the full, formal and more permanent approval process.

Mixtape podcast: Building a structural DEI response to a systemic issue with Y-Vonne Hutchinson — Hutchinson is the CEO of ReadySet, a consulting firm that works with companies to create more inclusive and equitable work environments.

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 3pm Pacific, you can subscribe here.

Daily Crunch: Trump bans transactions with ByteDance and Tencent

Trump escalates his campaign against Chinese tech companies, Facebook extends work from home until the middle of 2021 and Netflix adds support for Hindi. Here’s your Daily Crunch for August 7, 2020.

The big story: Trump signs orders banning US business with TikTok owner ByteDance and Tencent’s WeChat

Both orders will take effect in 45 days, but its specific impact is unclear since Secretary of Commerce Wilbur Ross will apparently not identify what transactions are covered until then.

This comes after Trump had already said that he was banning TikTok unless the app is sold to an American owner. (Specifically Microsoft, which has acknowledged that it’s in acquisition talks.)

TikTok hit back against the order by saying that it was “issued without any due process” and would risk “undermining global businesses’ trust in the United States’ commitment to the rule of law.”

The tech giants

Facebook extends coronavirus work from home policy until July 2021 — Facebook has joined Google in saying it will allow employees to work from home until the middle of next year as a result of the coronavirus pandemic.

Netflix’s latest effort to make inroads in India: Support for Hindi — Netflix has rolled out support for Hindi, a language spoken by nearly half a billion people in India.

Judge says Uber, Lyft preliminary injunction ruling to come in ‘a matter of days’ — Lyft argued that reclassifying drivers as employees would cause irreparable harm.

Startups, funding and venture capital

The rules of VC are being broken — The latest episode of Equity discusses “rolling funds” and how they could change the VC landscape.

Mashroom raises £4M for its ‘end-to-end’ lettings and property management service — The startup pitches itself as going “beyond the tenant-finding service” to include the entire rental journey.

Wendell Brooks has resigned as president of Intel Capital — Anthony Lin, who has been leading mergers and acquisitions and international investing, will take over on an interim basis.

Advice and analysis from Extra Crunch

How to pick the right Series A investors — It’s important for founders to get to know the people coming onto their board, and Jake Saper of Emergence Capital has some thoughts on how to do that.

IoT and data science will boost foodtech in the post-pandemic era — Three “must-dos” for post-pandemic retail grocers: rely on the data, rely on the biology and rely on the hardware.

Survey: Tell us what you think of Extra Crunch — Like Extra Crunch? Don’t like Extra Crunch? Tell us why!

(Reminder: Extra Crunch is our subscription membership program, which aims to democratize information about startups. You can sign up here.)

Everything else

Civic tech platform Mobilize launches a census hub for the 2020 count’s critical final stretch —The new site, GetOutTheCount.com, will amplify nonprofits’ census efforts and collect them in one place.

Federal judge approves ending consent decrees that prevented movie studios from owning theaters — U.S. District Court Judge Analisa Torres cited the rise of streaming services like Netflix as one of the reasons for her decision.

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 3pm Pacific, you can subscribe here.

Daily Crunch: Facebook embraces remote work

Facebook takes more steps to support and expand a remote workforce, IBM announces layoffs and TechCrunch’s big annual conference is going virtual. (I know, I know — I have mixed feelings about it, too.)

Here’s your Daily Crunch for May 22, 2020.

1. Facebook makes big remote work moves with plan for new hubs in Dallas, Denver and Atlanta

Facebook CEO Mark Zuckerberg estimated that over the course of the next decade, half of the company could be working fully remotely. As the next step toward that goal, Facebook will be setting up new company hubs in Denver, Dallas and Atlanta.

For Menlo Park employees looking for greener pastures, there’s one sizable catch. Starting on January 1 of next year, the company will localize all salaries, which means scaling compensation to the local cost of living.

2. IBM confirms layoffs are happening, but won’t provide details

IBM isn’t sharing details, but analyst Patrick Moorhead said. “I’m hearing it’s a balancing act between business units. IBM is moving as many resources as it can to the cloud.”

3. TechCrunch Disrupt 2020 is going virtual

As you can imagine, this is largely due to the impact that the coronavirus has had on the world. But it also gives us a chance to make our event even more accessible to more people than ever before, and Disrupt will now stretch over five days — September 14-18.

4. Netflix to start cancelling inactive customers’ subscriptions

Netflix said it will ask customers who have not watched anything in a year or more if they want to maintain their subscription. If it doesn’t hear back, it will cancel their membership.

5. API startups are so hot right now

Alex Wilhelm looks at FalconX, Treasury Prime, Spruce, Daily.co, Skyflow and Evervault — all API-focused startups that are experiencing some early success. (Extra Crunch membership required.)

6. Magic Leap has apparently raised another $350 million, in spite of itself

Magic Leap has reportedly received a $350 million lifeline, a month after slashing 1,000 jobs and dropping its consumer business. Noted by Business Insider and confirmed by The Information, CEO Rony Abovitz sent a note to staff announcing the funding, courtesy of unnamed current and new investors.

7. Cake brings a Swedish take on e-motorcycle design to the US

The Stockholm-based mobility startup’s debut, the Kalk OR, is a 150-pound, battery-powered two-wheeler engineered for agile off-road riding and available in a street-legal version.

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here.