Meta sells Giphy to Shutterstock at a loss to comply with UK antitrust rules

TechCrunch Newsletter

By Christine Hall Tuesday, May 23, 2023

To get a roundup of TechCrunch's biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. Today was a big day for news, so buckle up, folks. We've got Giphy being sold for pittance, lots of Microsoft news and some venture capital funds cleaning up. Enjoy learning who the Disrupt Audience Choice breakout winners are because this is your Daily Crunch for Tuesday.  — Christine Meta is either poppin' bottles right now or nursing a hangover after finding a buyer for Giphy. Find out who bought them and what kind of deal the buyer got. MS Build 2023 is going on this week, and the team has already filed 10 Microsoft-licious stories. The top read was about Fabric, a new end-to-end data and analytics platform that centers around OneLake. We've set you up with all the ooey, gooey Microsoft goodness. If size matters to you, Amazon launched the Fire Max 11, its biggest tablet. Get the scoop. Some big changes are happening over at Reliance JioMart. The online shopping platform is reportedly laying off 1,100 employees, and this is just the start of it. Find out how many more jobs are being cut. Generative AI is now going into Photoshop with some Firefly-based features. See what those are. Builder.ai is on a roll right now, securing $250 million in Series D capital a few weeks after signing a strategic collaboration with Microsoft. Read more on where all that capital is going. Driving ourselves is so overrated. If you're headed to Phoenix, you can be among the first to order a Waymo self-driving car from Uber. Find out how. Brian ponders if you need the sports car equivalent of a home appliance. Well, if you do, then Dyson has some upgrades to its vacuums that might get your engine purring. Learn more. If you didn't get enough generative AI talk with that Photoshop story, then read about Anthropic raising $450 million to build next-gen AI assistants. HBO Max is no more. Warner Bros. Discovery debuted the Max app to U.S. subscribers with 35,000 hours of content. And let's hope there are also some good '80s movies. But if you want all that content to come free of ads, it's going to cost you. Read more. Image Credits: Food Photographer / Getty Images

Let's head over to Google land, where more generative AI is at play. During the search engine giant's Google Marketing Live event today, one of the top stories there was the introduction of Product Studio, a tool that lets merchants create product imagery using generative AI. Find out more. Now that Shein is partnering with Reliance to reenter India, this strategy reportedly could set an example for startups grappling with the China backlash amid rising geopolitical tensions. How, you ask? Read more. Members of the European Parliament have some words for TikTok's lead privacy regulator in Europe. Get the scoop. After two long years in testing, the Mimestream app, a Gmail client for Mac, is now out of beta. See what it does. Meanwhile, who's got the money? This handful of venture capital firms do: VC firm Neo looks to up the ante with $235M across two new funds. QED closes on $925M to back fintech startups Dispersion Capital launches $40M fund focused on decentralized infrastructure E3 Capital and Lion's Head climate fund hits first close at $48M to back African startups Matrix Partners expands new India fund to $525M These startups are also flush with cash: Plenty's new wealth-building app targets couples blending finances Singapore-based BandLab Technologies raises $25M at $415M valuation Datasembly grabs $16M to give brick-and-mortar retail pricing a big data intel boost Ballerine brings open source to banks' risk and identity decision-making Sequoia India's Surge backs AI-powered video creation platform Gan.ai in $5.2M funding South African challenger bank TymeBank raises $77.8M from Norrsken22 and Blue Earth Capital Image Credits: Google

TechCrunch (virtually) in Atlanta On June 7, TechCrunch will host City Spotlight: Atlanta. We have a slate of amazing programming planned, including a fireside chat with Ryan Glover, the co-founder of the fintech Greenwood, as well as a panel that examines the venture ecosystem within the Atlanta region and identifies the best ways to raise and meet with local venture capitalists. But that's not all. If you are an early-stage Atlanta-based founder, apply to pitch to our panel of guest investors/judges for our live pitching competition; the winner gets a free booth at TechCrunch Disrupt this year to exhibit their company in our startup alley. Register here. Image Credits: Bryce Durbin

Threading the needle: A peek at Paul Judge's plans for Softbank's Open Opportunity Fund Dominic Madori-Davis interviewed Paul Judge, the incoming chairman of SoftBank's recently rebranded Open Opportunity Fund. With plans for a new $150 million fund that will support founders from communities that are traditionally marginalized, Judge is taking on the relationship-based model that defines venture capital. "It's been about getting a 'warm intro,' and people brag about that — 'Oh, you need to know somebody in order to get a meeting with me,'" he said. "My view is, that has led to the system being closed." Three more from the TC+ team: Cava's listing won't bring back IPOs, but it could deliver welcome investor liquidity Solana launches ChatGPT plugin to help users interact with its network. Many startups fail in the 'valley of death,' so Collaborative Fund and Wyss Institute partnered to bridge it TechCrunch+ is our membership program that helps founders and startup teams get ahead of the pack. You can sign up here. Use code "DC" for a 15% discount on an annual subscription. Read More Image Credits: Paul Judge

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Data privacy agency fines Meta $1.3B — company must stop exporting EU Facebook data to US

TechCrunch Newsletter

By Christine Hall Monday, May 22, 2023

To get a roundup of TechCrunch's biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here. Today, we look at Meta's giant fine from the European Union, which startups are flush with cash and what Amazon is doing with your palm. I hope you had a good weekend and are ready to jump into some news, because this is your Daily Crunch for Monday.  — Christine Meta is most likely smarting from a whopping $1.3 billion fine (€1.2 billion) handed down from the European Data Protection Board related to Facebook data flows. Just to hammer that home more, "the Board confirmed it is the largest fine ever issued under the bloc's General Data Protection Regulation." We've got all the juice that's fit to squeeze on this. Show of digital hands: How many of you have created a great social media post only to hit "post" and find a typo? The only options used to be "delete" and try again, or pay for the privilege of editing. Well, today you're in luck because WhatsApp has your back in the editing department. Find out more. Telemedicine continues to gain ground, but digital healthcare startup Patient21 thinks it has a unique business model going where there is proprietary software for managing patients, who are then steered toward one of the company's 50-plus outpatient clinics across Germany. See how this model is paying off. Ebb and Flow: Romania's FlowX.ai is now flush with $35 million for its AI-based approach to application integration. Get the scoop. Banned!: China launched a probe into American chip manufacturer Micron over national security risks and has now banned some of Micron's products. Read more. Hello? Is someone there?: General Atlantic gave a whopping $100 million to this India-based fintech that processes online transactions. Find out who it is.

Meanwhile, Amazon One found something fun to do with its palm-scanning payment technology. I'll give you a hint: It involves age verification services and cold beverages. Find out where this is being used. Machines break down all the time, which costs companies time and money until they are up and running again. What if you could predict this happening before it happens? See who Tiger Global backed to solve this problem. Financial technology is often developed for the wealthiest individuals or those with low income. Onyx Private believes affluent professionals — those in the middle that make a decent living and aren't wealthy yet — deserve some bank love, too. Read about what Onyx developed for them. The kids are all right: Venmo is going after some new demographics. The intro gives it away, but you can still find out more. New job alert: We have the scoop on where Melonee Wise landed after selling Fetch Robotics in 2021. Read more. Startups need a plan, too: Financial planning might not typically be a subject you associate with startups, but trying to predict the future sure is. See how Firmbase is modernizing financial planning for startups. The wheels on the bus are now digital: India's Chalo raised $45 million in fresh funding to digitize bus commutes. Shut up and drive: If you like your SUV with a place to plug it in, you'll want to check out the new offering by Cadillac. Read more. Don't forget these: Volition wants to be DigiKey for industrial parts. Discord is testing parental controls that allow for monitoring of friends and servers. Dish says ransomware gang stole almost 300,000 employee records. LinkedIn brings its verification tools to job posts Opentrons aims to democratize lab access with its Flex robot. Image Credits: Amazon

CRO: Why startups should prioritize conversion rate optimization early Landing pages are the first places most startups go to experiment and refine messaging, but unless you’re using a solid framework and constantly iterating, you’re leaving money on the table. In his latest column, growth marketing expert Jonathan Martinez identifies several conversion rate optimization (CRO) experiments and explains how “to streamline efforts so you can stack-rank tests and have a consistent measuring methodology.” “CRO is so vital early on for startups,” Martinez noted on Twitter. “It’s when you can most easily find those 10-20% wins in conversion rates across the funnel.” Four more from the TC+ team: Grab-and-go: Will startups have a shot in the enterprise AI race? Brrr, it's cold in here: How to write the perfect cold email to investors. ESGee whiz: Executives say they're committed to ESG, but data shows otherwise. Cloudy with a chance of redundancy: For startups, how many clouds to use may be the wrong question to ask. TechCrunch+ is our membership program that helps founders and startup teams get ahead of the pack. You can sign up here. Use code "DC" for a 15% discount on an annual subscription. Read More Image Credits: John Scott / Getty Images

Calling all early-stage startups! Apply to join the Startup Battlefield 200 cohort at TechCrunch Disrupt 2023. All finalists get expert training, VC networking, a booth at Disrupt, and the chance to compete for $100,000 in equity-free funds. Applications close May 31. Apply today! Read More

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Newest Jobs from Crunchboard Executive Director of Technology Services (IT) at Walla Walla Community College (Walla Walla, WA, USA) Lead Data Engineer at Brivo Systems LLC (Bethesda, MD, USA) Lead Information Security Engineer at Brivo (Bethesda, MD, USA) POLICY & RESEARCH ANALYST I POLITICAL VOICE at Catalyst California (Los Angeles, CA, USA) Strategic Marketing Director at NXT1 (Bel Air, MD, USA) See more jobs on CrunchBoard Post your tech jobs and reach millions of TechCrunch readers for only $200 per month.

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