European regulators share more privacy concerns over Facebook “smart”

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Hello and welcome to the Daily Crunch of September 20, 2021. This week is disrupted, everyone, and is buzzing. Starting tomorrow morning, Disrupt is set to be a pretty butt-kicking affair. Check out the agenda here, speakers here, battlefield companies here, and if you’re your humble servant your first run at hosting (last run?) only good tweets, please.

See you tomorrow morning! – alex

Top 3

  • Coinbase pulls the plug on lending products: US cryptocurrency exchange Coinbase has decided to suspend its “lending” product that will provide yields to investors who stake their crypto assets. Why? The US regulatory body involved in such products sees the creation as a security and has said it will sue Coinbase if it launches the product. Coinbase CEO Brian Armstrong publicly made the case that the SEC was being silly, which didn’t help much. Perhaps a handful of crappy Twitter threads are not the way to regulatory victory.
  • IPO Abundant: Well people who care about public-market liquidity, we have a bunch of stories for you today. who is going here Get Rich With GitLab’s IPO, is here dig into the new pricing For Toast’s IPO, and here it is some notes On the increase in the IPO price of Freshworks. Enjoy!
  • Europe wants Facebook to turn on its lights: or at least more Feather. In the wake of the Ray-Ban camera-glass announced by Facebook, “concerns have been raised by the major privacy regulator in Europe” about the hardware. The problem is that the little light shows that they are recording. Maybe a bigger light would be better. That or we could be in another cycle of glasshole discourse, which I’m sure we’ll all avoid.

Startups/VCs

  • You don’t need to go into space to image Earth: That’s the lesson from Near Space Labs’ latest round of capital, an infusion of $13 million. While many startups want to take lots of pictures of Earth for commercial purposes from satellites (albedo is one we’ve covered before), Near Space wants to use balloons that are only, well, near space. Getting into orbit is cheaper than ever, but certainly still not Cheap. Maybe this is the way forward?
  • Fivetran raises big round, buys smaller company Hard Enterprise reporter Ron Miller covered this $565 million investment for , noting that Fivetran is now worth about $5.6 billion. The company is also paying $700 million for HVR, which Miller describes as a “data integration competitor that raised more than $50 million.” The latter deal is a mix of cash and stock. Fivetran helps companies move data around. Given the scale of data in the world, this is big business.
  • Salesforce invests in Razorpay: As the Chinese market for startup investments retreats, India continues to collect checks, with the latest being an investment from Salesforce Ventures in Razorpay, a major fintech player in the Indian market, which was last valued at $3 billion. The deal isn’t huge in dollar terms, but Salesforce bridging the Pacific really matters.
  • Video and photo editing is an industry: As companies like Picsart raise nine-figure rounds, it’s perhaps no surprise that the company behind Facetune and other editing applications has raised rounds of similar sizes. In this case, Facetune developer Lightrix has put together a $130 million round. As reports, the company “operates more than a dozen subscription-based photo- and video-editing apps on iOS and Android.”
  • B2B fintech is hot: Airwallex secured a $200 million round at a valuation of $4 billion, notable not only for the dollars involved, but also due to the fact that the company is based in Australia. The now-multiple Unicorn provides embedded fintech services for other companies as well as commercial banking services.
  • A marketplace sells part of its business to sell to businesses: This is the news of Flippa, a marketplace where online trading and digital assets can be bought and sold. The company just raised an $11 million round, and as part of that release what should be the worst non-GAAP metric since community-adjusted EBITDA. writes that the company “sees more than 600,000 monthly searches from investors looking to connect with business owners.” To which I say, sir, are you so afraid to share the actual metric that He did you go along?
  • In related news, this newsletter is the leading Internet message that includes both “Daily” and “Crunch” in its title, giving us readership and market-leading speed of conversion of our newsletter-to-read pipeline.
  • Cars24 raises $450 million in cash, debt After raising $340 million in equity capital and $110 million in debt, Indian used car marketplace Cars24 is now worth $1.84 billion. It’s a healthy round for the company that has “sold 400,000 vehicles so far.” See? This is a really useful metric. No incredibly useful; The sales rate would be better than an absolute figure, but still!

AI will be at the heart of the next healthcare revolution

In an excerpt from “AI 2041: Ten Visions for Our Future,” author Kai-Fu Lee states that recent advances in artificial intelligence are beginning to transform healthcare.

Studies have shown that AI is as good as humans in diagnosing disease, but the pandemic has accelerated the digitization of patient records and data.

“In the coming decades, we can expect to develop medical diagnostics from AI tools that provide analysis of options to an AI assistant who recommends treatment,” writes Lee.

Lee identifies several areas where AI will improve outcomes in drug discovery, complex surgeries and surveillance, but also sees potential concerns such as legal liabilities.

“AI healthcare is not just a market – it represents a tidal wave of changes that will transform the entire industry.”

(ExtraCrunch is our membership program, which helps founders and startup teams grow. You can sign up here.)

Big Tech Inc.

  • Perhaps we have figured out this generation of mobile operating systems: ‘s dive into iOS 15 reveals that the new mobile OS brings with it quality-of-life improvements and feature-bumps in Apple’s own apps. That’s what you have to look forward to. Or, more precisely, you’ll update to new code, I guess, and then immediately forget that you have. Such is the state of today’s mobile OS, which, along with smartphone hardware, has reached a plateau of boring excellence. It’s time for a new paradigm to shake things up.
  • Big Tech won some awards your parents cared about: How much stock do you hold at the Emmys? Do you really know what an Amy is? I’m not But it turns out that Netflix and Apple won another day. good for them. It turns out that if you own one of the wealthiest companies in the history of the world, you are capable of buying talent and taking enough shots at the target that you score some points. Or in this case, small, ugly trophies.

Expert: Growth Marketing

Illustration montage based on education and knowledge in blue color

image credit: Sean Gladwell (Opens in a new window) / Getty Images

wants you to recommend growth marketers who have expertise in SEO, social, content writing and more! If you are a growth marketer, pass this survey to your customers; We’d love to know why they liked working with you.

If you’re curious about how these surveys are shaping our coverage, check out this interview Anna Heim did with Ammo, “Australian growth marketing agency Ammo helps startups test their efforts “

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