Daily Crunch: Rackspace is going public again

Daily Crunch: Rackspace is going public again

We take a look at Rackspace’s funds, a Facebook code change causes quite a few app points and electrical car firm Rivian raises $2.5 billion. Here’s your Daily Crunch for July 10, 2020.

The large story: Rackspace goes public once more

The cloud computing firm first went public in 2008, earlier than accepting a $4.Three billion provide to go non-public from Apollo Global Management. Rackspace says it can use the proceeds from the IPO to decrease its debt load.

Alex Wilhelm took a deep dive into Rackspace’s funds, concluding that the right valuation is a “puzzle”:

The firm is tech-ish, which suggests it can discover some curiosity. But its sluggish development charge, heavy money owed and lackluster margins make it laborious to pin a good a number of onto.

The tech giants

New report outlines potential roadmap for Apple’s ARM-based MacBooks — Analyst Ming-Chi Kuo mentioned {that a} 13.3-inch MacBook powered by Apple’s new processors will arrive within the fourth quarter of this yr.

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Facebook code change precipitated outage for Spotify, Pinterest and Waze apps — Looks like Facebook was chargeable for some crashing apps this morning.

California reportedly launches antitrust investigation into Google — This makes California the 49th state to launch an antitrust investigation into the search large, in keeping with Politico.

Startups, funding and enterprise capital

Rivian raises $2.5 billion because it pushes to deliver its electrical RT1 pickup, R1S SUV to market — The firm plans to deliver its electrical pickup truck and SUV, in addition to supply vans for Amazon, to market in 2021.

A glint of hope for India’s meals supply market as Zomato tasks month-to-month money burn of lower than $1 million — “We’ll solely lose $1 million this month” doesn’t really feel like an enormous accomplishment, however a minimum of issues appear to be headed in the correct path.

Advice and evaluation from Extra Crunch

How Thor Fridriksson’s ‘Trivia Royale’ earned 2.5 million downloads in Three weeks — The newest sport from the QuizUp founder was (briefly) the highest app within the App Store. We discuss to Fridriksson about how he did it.

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COVID-19 pivot: Travel unicorn Klook sees leap in staycations — With bookings for abroad experiences plummeting, Klook started providing do-it-yourself kits for stay-at-home tasks and partnered with landmark websites to supply digital excursions.

Operator Collective brings range and inclusion to enterprise investing — The agency, based final yr, mentioned it at the moment has 130 operator LPs, 90% of them ladies and 40% of them folks of coloration.

(Reminder: Extra Crunch is our subscription membership program, which goals to democratize details about startups. You can join right here.)

Everything else

NASA indicators settlement with Japan to cooperate throughout Space Station, Artemis and Lunar Gateway tasks — Japan first expressed its intent to take part within the Lunar Gateway program in October 2019, making it one of many first international locations to take action.

Equity: Silicon Valley is constructed on immigrant innovation — The newest episode of Equity discusses how latest visa adjustments will have an effect on Silicon Valley.

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Five causes to attend TC Early Stage on-line — July 21 and 22! I will probably be there!

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