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Daily Crunch: Uber confirms Postmates acquisition

Daily Crunch: Uber confirms Postmates acquisition

You might have seen that The Daily Crunch is publishing about six hours later than ordinary. Do not be alarmed! We determined that sending the e-newsletter later within the day was a greater match for the TechCrunch information cycle — hopefully, there can be fewer days once we hit Publish after which groan once we see a large story break 5 minutes later.

We’re additionally taking the chance to rethink the e-newsletter format. The mission hasn’t modified — the purpose is to ship the day’s large tech headlines in an electronic mail that you could learn in simply a few minutes. But we all know that totally different readers are targeted on totally different areas of TechCrunch’s protection, so shifting ahead, The Daily Crunch can be organized to make it simpler to seek out the information that pursuits you.

Without additional ado: Here’s your Daily Crunch for July 6, 2020.

The large story: Uber confirms Postmates acquisition

The studies final week have been true: Uber introduced at this time that it’s buying Postmates in an all-stock deal value $2.65 billion. It seems just like the restaurant supply market is consolidating — Uber beforehand tried to amass Grubhub, which ended up promoting to the European firm Just Eat Takeaway as an alternative. The firm mentioned Postmates will proceed to function as a standalone app, however tech and supply operations can be consolidated.

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Meanwhile, Alex Wilhelm took an in depth take a look at Uber’s funds to assist Extra Crunch readers perceive why the corporate’s inventory is up at this time, arguing that the acquisition might assist Uber Eats “develop extra shortly whereas bringing down its losses as a % of income.”

The tech giants

US tech giants halt Hong Kong police assist — After the Chinese authorities has handed a brand new safety legislation undermining protections for Hong Kong, each Facebook and Twitter mentioned that they’ll not course of calls for for person knowledge from Hong Kong authorities. (In Facebook’s case, this additionally applies to WhatsApp.)

Instagram Reels examined in India following TikTok’s ban — Instagram could also be profiting from India’s choice to ban TikTok by increasing its Reels function, which permits customers to create 15-second movies set to music.

Intel to take a position $253.5 million in India’s Reliance Jio Platforms — Intel joins General Atlantic, Facebook and Silver Lake as an investor in India’s prime telecom operator.

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Startups, funding and enterprise capital

Here’s an inventory of tech firms that the SBA says took PPP cash — Bolt Mobility, Getaround, Luminar, Stackin, TuSimple and Velodyne all took loans of $150,000 or extra from the Paycheck Protection Program, in response to the U.S. Treasury Department. But confusingly, a few of the corporations on the checklist (together with Bird and Index) denied taking any loans.

Sequoia declares $1.35 billion enterprise and progress funds for India and Southeast Asia — Sequoia Capital India made greater than 50 investments in India final 12 months, placing it forward of another VC agency within the nation.

Payfazz will get $53 million to present extra Indonesians entry to monetary companies — This Indonesian startup provides various cell monetary companies, together with invoice funds and loans.

Advice and evaluation from Extra Crunch

Four views: Is edtech altering how we study? — Devin Coldewey, Natasha Mascarenhas, Alex Wilhelm and Danny Crichton have ideas about whether or not digital studying could make high quality training extra accessible, or will merely widen present divides.

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As COVID-19 surges, 3D printing is having a second — 3D printing has fallen out of the highlight over the previous couple of years, however the COVID-19 pandemic has modified all that.

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

Everything else

‘Hamilton’ provides Disney+ a vacation weekend bump in US, with app downloads up 74% — That’s in response to knowledge from Apptopia.

Original Content podcast: ‘Eurovision Song Contest: The Story of Fire Saga’ is a goofy delight — Every week, Darrell Etherington, Jordan Crook and I assessment the newest streaming films and exhibits in a freewheeling dialogue. In this episode, we have been all pleasantly stunned by the brand new Will Ferrell film on Netflix.

The Daily Crunch is TechCrunch’s roundup of our largest and most vital tales. If you’d prefer to get this delivered to your inbox day by day at round 3pm Pacific, you possibly can subscribe right here.

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