U.S. tech giants face antitrust scrutiny, Spotify has a mixed quarter and at-home health startup Tempo raises funding. This is your Day after day Crunch for July 29, 2020.
The tall yarn: Tech CEOs face Congress
Amazon’s Jeff Bezos, Apple’s Tim Cook dinner, Fb’s Label Zuckerberg and Google’s Sundar Pichai all looked remotely this afternoon earlier than the House Judiciary Antitrust Subcommittee.
Varied representatives perceived to excited by very assorted points: Republicans continuously returned to the query of whether or now not the grand tech platforms are suppressing conservative viewpoints, while Democrats looked extra interested by potentially anticompetitive habits.
As an illustration, citing newly printed emails sent by Zuckerberg to other Fb executives, Rep. Jerry Nadler declared, “Fb saw Instagram as a strong threat that can possibly perchance also siphon industry far from Fb so rather than compete with it, Fb sold it.” And Rep. Val Demings (like Nadler, a Democrat) urged that Google changed into accountable for “effectively destroying anonymity on the rating.”
The tech giants
Spotify customers are streaming again, but ad revenues peaceful undergo in consequence of COVID crisis — In its most modern earnings picture, Spotify said it grew its active monthly customers by 29%, reaching 299 million.
Google One now offers free phone backups as much as 15GB on Android and iOS — Google One is Google’s subscription program for procuring extra storage and are residing make stronger, and it’s getting an change.
Samsung reportedly interested by a Google deal that can possibly possibly deprioritize Bixby — That’s in line with Reuters.
Startups, funding and project capital
Replicate competitor Tempo raises a $60M Sequence B — The suggestions comes nearly exactly a month after Replicate, one amongst the San Francisco-based company’s chief competitors, changed into received by health assign Lululemon for $500 million.
Remitly raises $85M at a $1.5B valuation, says money transfer industry has surged — CEO Matt Oppenheimer advised us that buyer command has elevated by 200% when compared with a 300 and sixty five days in the past.
LA’s user goods rental carrier, Joymode, sells to the NYC retail funding agency, XRC Labs — Joymode’s founder Joe Fernandez will continue on as an advertising and marketing and marketing consultant to the startup as it strikes to pivot its industry to level of curiosity on retail partnerships.
Advice and prognosis from Extra Crunch
How one can time your Sequence A fundraise — At our Early Stage occasion final week, Emergence Capital’s Jake Saper said that finding the correct time to fundraise requires a micro- and macro-stage contrivance.
Investment in AI startups slips to some-300 and sixty five days low — A original picture from CB Insights reveals historically tough but declining investing charges for AI startups.
The save is voice tech going? — For sure one of many absolute best tales in emerging know-how is the expansion of assorted styles of voice assistants.
(Reminder: Extra Crunch is our subscription membership program, which aims to democratize knowledge about startups. You may possibly even test in here.)
Every thing else
Walmart launches its like voice assistant, ‘Quiz Sam,’ at the delivery for employee consume — The instrument allows Walmart staff to eye up prices, entry store maps, discover merchandise, peek gross sales knowledge, test electronic mail and further.
The Hummer EV is shaping as much as be GM’s electric retort to the Ford Bronco and Tesla Cybertruck — GM factual released its first eye on the automobile, which changed into launched pre-COVID, on the Monumental Bowl.
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