Published On: Thu, Jul 30th, 2020

Daily Crunch: Tech CEOs face Congress

U.S. tech giants face antitrust scrutiny, Spotify has a churned entertain and at-home aptness startup Tempo raises funding. This is your Daily Crunch for Jul 29, 2020.

The vast story: Tech CEOs face Congress

Amazon’s Jeff Bezos, Apple’s Tim Cook, Facebook’s Mark Zuckerberg and Google’s Sundar Pichai all seemed remotely this afternoon before a House Judiciary Antitrust Subcommittee.

Different member seemed to focused on really opposite issues: Republicans regularly returned to a doubt of either a vast tech platforms are suppressing regressive viewpoints, while Democrats seemed some-more endangered about potentially anticompetitive behavior.

For example, citing newly suggested emails sent by Zuckerberg to other Facebook executives, Rep. Jerry Nadler declared, “Facebook saw Instagram as a absolute hazard that could siphon business divided from Facebook so rather than contest with it, Facebook bought it.” And Rep. Val Demings (like Nadler, a Democrat) suggested that Google was obliged for “effectively destroying anonymity on a internet.”

The tech giants

Spotify users are streaming again, though ad revenues still humour due to COVID predicament — In a latest gain report, Spotify pronounced it grew a active monthly users by 29%, reaching 299 million.

Google One now offers giveaway phone backups adult to 15GB on Android and iOS — Google One is Google’s subscription module for shopping additional storage and live support, and it’s removing an update.

Samsung reportedly deliberation a Google understanding that would deprioritize Bixby — That’s according to Reuters.

Startups, appropriation and try capital

Mirror aspirant Tempo raises a $60M Series B — The news comes roughly accurately a month after Mirror, one of a San Francisco-based company’s arch competitors, was acquired by aptness code Lululemon for $500 million.

Remitly raises $85M during a $1.5B valuation, says income send business has surged — CEO Matt Oppenheimer told us that patron expansion has increasing by 200% compared to a year ago.

LA’s consumer products let service, Joymode, sells to a NYC sell investment firm, XRC Labs — Joymode’s owner Joe Fernandez will continue on as an confidant to a startup as it moves to concentration a business to concentration on sell partnerships.

Advice and research from Extra Crunch

How to time your Series A fundraise — At a Early Stage eventuality final week, Emergence Capital’s Jake Saper pronounced that anticipating a right time to fundraise requires a micro- and macro-level strategy.

Investment in AI startups slips to three-year low — A new news from CB Insights shows historically clever though disappearing investing rates for AI startups.

Where is voice tech going? — One of a biggest stories in rising record is a expansion of opposite forms of voice assistants.

(Reminder: Extra Crunch is a subscription membership program, that aims to democratize information about startups. You can pointer adult here.)

Everything else

Walmart launches a possess voice assistant, ‘Ask Sam,’ primarily for worker use — The apparatus allows Walmart employees to demeanour adult prices, entrance store maps, find products, perspective sales information, check email and more.

The Hummer EV is moulding adult to be GM’s electric answer to a Ford Bronco and Tesla Cybertruck — GM only expelled a initial demeanour during a vehicle, that was announced pre-COVID, during a Super Bowl.

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