The GameStop inventory saga continues, Apple releases extra particulars about its privateness modifications and Qualtrics goes public. This is your Daily Crunch for January 28, 2021.
The large story: Robinhood restricts GameStop buying and selling
Robinhood has responded to an upsurge in retail traders shopping for shares in firms like GameStop, AMC and Blockbuster by limiting buying and selling on “sure securities” to “place closing solely,” which means that customers can now not purchase extra of the businesses’ shares. (It says it should enable “restricted buys” tomorrow.)
This comes after the present shopping for spree — concentrating on shares shorted by institutional traders and spurred by the WallStreetBets discussion board on Reddit — took Robinhood and Reddit to the highest of the app charts.
Now, Robinhood is being hit with quite a few 1-star opinions, and the transfer additionally attracted criticism from politicians on either side of the aisle, with Rep. Alexandria Ocasio-Cortez describing it as “unacceptable” and Senator Ted Cruz tweeting, “Fully agree.”
The tech giants
Apple’s App Tracking Transparency characteristic might be enabled by default and arrive in ‘early spring’ on iOS — The plan is to launch these modifications in early spring, with a model of the characteristic coming within the subsequent iOS 14 beta launch.
Qualtrics costs IPO at $30 per share, above its upgraded goal vary — The firm bought 50.four million shares within the course of.
Twitter is already engaged on integrating newsletters on its web site, following its Revue acquisition — It seems “Newsletters” will quickly be the latest addition to Twitter’s sidebar navigation.
Startups, funding and enterprise capital
Workday acquires worker suggestions platform Peakon for $700M — Peakon says firms have used its platform’s weekly surveys to ask greater than 153 million questions since inception six years in the past.
Fintech darling Nubank raises blockbuster $400M Series G at $25B valuation — The fintech firm now has 34 million prospects.
Flowhaven raises $16M to evolve model licensing administration past emails and spreadsheets — The media licensing enterprise is an enormous market, however a lot of the work concerned continues to be dealt with manually by way of emails and spreadsheets.
Advice and evaluation from Extra Crunch
Thirteen traders say lifelong studying is taking edtech mainstream — As learners grow to be extra multi-layered and nuanced, so have the edtech firms that again them.
Talent and capital are shifting cybersecurity traders’ focus away from Silicon Valley — Solving the cybersecurity drawback will take extra time and sources than we’re presently allocating.
Mind the hole: E-commerce entrepreneurs ought to revise their TAM and SAM estimates — 2021 goes to be one other wonderful yr for e-commerce.
(Extra Crunch is our membership program, which helps founders and startup groups get forward. You can enroll right here.)
Smartphone gross sales slowed decline in This autumn, with an enormous help from Apple — The previous yr was, in fact, a serious blow to an trade already struggling a slide.
GM pledges to be carbon impartial by 2040 with zero tailpipe emission automobiles by 2035 — It’s an enormous step for an organization whose merchandise are accountable for a big share of worldwide greenhouse gasoline emissions.
UCLA is constructing a digital archive of mass incarceration with a brand new $3.6M grant — The “Archiving the Age of Mass incarceration” effort is being led by Kelly Lytle Hernandez, director of the college’s Bunche Center for African American Studies.
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