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Howdy and welcome to Every single day Crunch for July 2. We’re heading into a vacation weekend here within the United States, so that that you just would possibly perchance perchance have faith that tech news slowed down. It did no longer, as we’ll ogle quickly. Having a take a look at ahead, TC Early Stage 2021: Marketing & Fundraising is next week and Disrupt is across the corner. Win hype! — Alex
The TechCrunch Prime 3
- When SPACs assault: The United States Division of Justice is investigating Lordstown Motors, the embattled EV company that went public by the utilize of a SPAC. Detractors of the company have punched holes within the chronicle it told before going public, and the company’s SPAC deck has confirmed to be considerably, well, disconnected from actuality. The company wants more money, it turns out, regardless of having told consumers that it would possibly perchance probably per chance no longer. Whoops.
- China v. Didi v. American consumers: Sticking to the theme of corporations in anxiousness, Chinese language hotfoot-hailing giant Didi is in sizzling water with its have faith domestic regulators. The company has been told to cease fresh consumer registration, pending a cybersecurity overview. Appropriate days after it went public within the United States. Oof.
- IBM’s President steps down: Jim Whitehurst, who made his way to IBM by the utilize of its Purple Hat deal, is out. His tenure as president at the firm lasted 14 months. Minute print had been light on his exit, per Ron Miller Yeesh.
On the sleek time’s startup news has a solid non-American bias. That’s because almost everyone within the United States took most of this day off, regardless of what their boss thought was once occurring. The leisure of the sector was once unruffled busy, nonetheless:
- Licious raises tasty $192M round: The Bangalore-based meat and seafood e-commerce participant has now raised via a Sequence F. About a years encourage we would have joked that the F in Sequence F stood for “did not head public,” but that’s now no longer the case. Why no longer elevate a Sequence F when money is so cheap? The company is now fee more than $650 million, TechCrunch reviews.
- MTG buys PlaySimple for $360M: Why are consumers making a bet so grand money on the Indian startup ecosystem? Rising exit values, perchance. TechCrunch notorious that the sale of India’s PlaySimple to Swedish gaming giant was once “one of the largest exits within the Indian startup ecosystem.”
- Tiger invests $40M into Nigerian neobank: It’s a gargantuan day for FairMoney, a Nigerian startup that has its genesis in offering consumers credit. It’s additionally but one other round for African fintech, a sector that has felt slightly full of life unprejudiced at present.
3 guiding strategies for CEOs who submit on Twitter
Did you hear about the CEO who made deceptive claims a couple of funding round and received sued by the SEC? How about that pharmaceutical govt whose taunts to a former secretary of affirm ended in a 4.4% decline within the Nasdaq Biotechnology Index?
In case it isn’t certain: Startup executives are held to a better same outdated by approach of what they submit on social media.
“Repute and goodwill decide a truly prolonged time to create and are grand to back, but it highest takes one tweet to abolish it all,” says Lisa W. Liu, a senior partner at The Mitzel Crew, a San Francisco-based regulation phrase that serves many startups.
To attend her purchasers (and Additional Crunch readers) preserve out of anxiousness, Liu has six authorized questions for tech professionals with itchy Twitter fingers.
And if the technique to any of them is “I don’t know,” don’t submit.
(Additional Crunch is our membership program, which helps founders and startup teams internet ahead. That you just would be able to per chance per chance signal in here.)
Mountainous Tech Inc.
On the sleek time’s Mountainous Tech news is a blended fetch, but a stress-free one. And each chronicle has a solid California hook. Let’s commence:
- GM is investing in a California lithium extraction mission: Why? Batteries. Gotta have lithium to possess batteries. No batteries, no electrical automobiles. In this case the mission is certainly slightly shipshape, having a solid hook to Salton Sea Geothermal Field shut to Los Angeles within the southern share of the affirm. The geothermal self-discipline will present energy and materials. So perchance electrical automobiles’ pre-riding carbon footprint is in point of fact a bit of more sustainable sooner or later.
- Twitter tests more consideration-grabbing misinformation labels: Twitter, a California-based company, is making its misinformation labeling a bit of more standout. It’s stress-free to respect social media corporations possess warnings sterner similtaneously Google is making classified ads better mix into its organic outcomes.
- Dutch court will hear one other Facebook privateness lawsuit: About a Dutch nonprofits are suing Facebook over alleged “rampant collection of internet customers’ data — arguing the company does no longer have an acceptable honest basis for the processing,” TechCrunch summarized. This case looks like it would possibly perchance probably perchance have sizable import, reckoning on how it shakes out. Given, , how grand data collection goes on actually the total time, actually in every single place, online.
TechCrunch Experts: Express Marketing
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