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Hello and welcome to Daily Crunch for June 4, 2021. What a week, right? It was four super busy days. But don’t think the pace of the news is about to slow down. It’s not. Next week is Apple’s big WWDC developer event, which we previewed here. And TechCrunch’s next mobility-focused event is just around the corner.
So much for catching up on sleep this weekend. – Alexis
The Top 3 TechCrunch
- Facebook can’t leave Trump: News broke today that Facebook will reconsider its ban on former US President and aspiring autocrat Donald Trump in two years. The move is part of Facebook’s larger fight to decide the rules for its hugely popular social platforms.
- The IPO wave continues: Startups supported by companies apply to be made public quickly. Today was Xometry (our first look here) and SentinelOne (more here). Expect to see more depots in the form of a loaded Q3 pipeline.
- Governments c. Tech: Governments around the world continue to push tech companies around. Sometimes for reasons that make sense, like with the US government’s new crackdown on some Chinese tech companies. And sometimes for reasons that don’t, like Nigeria trying to ban Twitter at the end of the week. Whatever your policy, expect more of that space every week until the end of time.
Startups and VC
- Flink Quickly Raises $ 240 Million: After operating in the market for just six months, German grocery delivery start-up Flink has raised a quarter of a billion dollars. Flink means fast in German, which relates to both its timing of delivery and its rate of venture capital.
- GBM raises “up to” $ 150 million from SoftBank: When is a startup not a startup? When he was 35. This is the case of the Mexican company Grupo Bursátil Mexicano, or GBM. But as TechCrunch reports, the company is experiencing hypergrowth, from “38,000 investment accounts in January 2020 to over 650,000 at the end of the year.” It does not exceed the 1,000,000 account mark. Not bad.
- The BNPL market is growing rapidly, still expensive: A TechCrunch analysis of recent buy-it-now and pay-later companies that are large enough to report profits indicates that the popular startup market continues to grow rapidly, but few to no companies working on the sell-out model. consumers actually make money. Again.
- Toyota commits $ 300 million for startups: Toyota’s AI-focused venture capital fund is no longer the hallmark of AI, and TechCrunch reports that the corporate venture capital group is “commemorating its new identity by investing an additional $ 300 million in emerging technologies and carbon neutrality ”. That’s a lot of bread to help save the world.
- Automatic SPAC: TechCrunch announced that “autonomous vehicle startup Aurora is about to finalize an agreement to merge with Reinvent Technology Partners Y, the new special purpose acquisition company started by LinkedIn co-founder and investor, Reid Hoffman.”
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Big Tech Inc.
Today’s Big Tech news is essentially a huge Facebook slug. So if you’re upset that you’re spending more time than necessary considering Zuckerberg’s Empire, don’t hesitate to skip to the Community section of today’s missive!
Facebook Land today was more than the news regarding former US President Donald Trump. Big Blue also handled the purchase of a games company and antitrust investigations in the UK and the EU.
On the gaming front, Facebook today announced it is buying Crayta, which TechCrunch has described as “a Roblox-like game creation platform.” Roblox, of course, recently went public via direct registration after seeing his fortunes rise during the COVID-19 pandemic. TechCrunch also wrote that Facebook bought some unique VR startups as well. So, maybe there is something of a bigger gaming push going on in the business. If there is one rule in Facebook’s actions, it’s that if it sees another business doing something and making money, it has to copy it.
To close Big Tech for the week, Facebook is under renewed scrutiny from the UK and EU, this time for its use of data from ad clients and people who use its tool. single sign-on. TechCrunch reported that the surveys “are examining whether they are using this data as unfair leverage against competitors in markets such as classifieds.”
Thank you for joining us yesterday to our discussion on the future of e-commerce. It’s nice to be able to dive deeper into the things we write. Twitter Spaces was fun to use, but unfortunately our friend Brandon Chu from Shopify could not join from his android device (yay beta apps!). It just means we’re going to have to start over.
Speaking of remaking Twitter Spaces, we’re going to pre-gamble WWDC on Monday, led by our material editor, Brian Heater. We’ll start early at 8:30 a.m. PDT / 11:30 a.m. EDT, so bring all your thoughts and questions.