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Hello and welcome to the Daily Crunch of June 4, 2021. What’s the week, yes? Those were four super-packed days. But don’t think that the pace of news is going to slow down. this. Next week is Apple’s big WWDC developer event, which we previewed here. And ClearTips’s next event focused on mobility is about to come.
Here’s to catching up on sleep this weekend. – alex
ClearTips Top 3
- Facebook can’t leave Trump: News broke today that Facebook will reconsider the ban on former US President and wannabe autocrat Donald Trump in two years’ time. The decision fits within the larger struggle to set rules for Facebook’s hugely popular social platform.
- The IPO wave continues: Venture-backed startups are filing to go public at a rapid clip. Today it was Axiometry (our first look here) and SentinelOne (more here). Expect to see more filings as a busy Q3 pipeline forms.
- Government vs Tech: The governments of the world keep pushing tech companies around. Sometimes for reasons that make sense, as with the recent US government crackdown on some Chinese tech companies. And sometimes for reasons not to do so, like with Nigeria trying to ban Twitter this weekend. Whatever your politics, expect more from this place every week until the end of time.
Startups and VCs
- Flink rapidly raises $240M: German grocery delivery startup Flink has raised $1.25 billion after operating in the market for just half a year. Flink is German for quick, which relates to both its delivery timeline and its venture capital cadence.
- GBM raises “up to $150M” from SoftBank: When is startup not startup? When it is 35 years old. Such is the case with the Mexican company Grupo Bursatil Mexicano, or GBM. But as ClearTips reports, the company “has grown from 38,000 investment accounts in January 2020 to more than 650,000 by the end of the year.” It does not exceed 1,000,000 account mark. not bad.
- BNPL market is growing fast, yet expensive: A recent analysis of buy-now-pay-later companies that are large enough to report earnings indicates that the popular startup market is still growing rapidly, but those operating on a consumer sales model. Few companies are actually making money. still.
- Toyota pledges $300M to startups: Toyota’s AI-focused venture capital fund is no longer AI-branded, and ClearTips reports that the corporate VC group is “recalling 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.
- AUTO SPAC: ClearTips broke the news that “autonomous vehicle startup Aurora is close to finalizing a deal to merge with Reinvent Technology Partners, the latest special-purpose acquisition company launched by LinkedIn co-founder and investor Reid Hoffman.” “
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Big Tech Inc.
Today’s Big Tech news is essentially a big slug of Facebook. So, if you’re bothered by spending more time contemplating Zuckerberg’s empire, feel free to visit the community section of today’s message!
Facebook ground today was more than just news about former US President Donald Trump. Big Blue also became busy buying a gaming company and has come under antitrust investigations in the UK and EU.
On the gaming front, Facebook today announced that it is buying Creta, which ClearTips describes as “a Roblox-like game creation platform.” Roblox, after seeing its fortunes rise during the COVID-19 pandemic, recently went public via a direct listing. ClearTips also wrote that Facebook is also buying the one-off VR startup. So, maybe there’s a big gaming push going on at the company. If there’s any rule to Facebook’s actions, it’s that if it’s doing something to another company and making money, it has to copy it.
For weeks shutting down Big Tech, Facebook is under new scrutiny by both the UK and EU, this time for its use of data on advertising customers and people using its single-sign-on tool. ClearTips reported that the investigation is “looking into whether it uses this data as an unfair lever against competitors in markets such as classified ads.”
thanks for joining us tomorrow Our conversation about 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 it’s sad Our friend Brandon Chu from Shopify Wasn’t able to join from my Android device (yay beta apps!). It simply means we have to do it all over again.
Speaking of redoing Twitter Spaces, we’re going to be pregaming WWDC on Monday, which will be led by our Hardware Editor, Brian Heiter. We’ll start bright and early at 8:30 a.m. PDT/11:30 EDT, so bring all your thoughts and questions then.