Wednesday, January 17, 2024

Apple details new App Store payment rules, still demands a 27% cut

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By Alex Wilhelm

Wednesday, January 17, 2024

Good morning and welcome to TechCrunch AM for January 17, 2024. This morning, we're talking about Apple’s changes to its app store rules; how one startup wants to use AI to help other companies reduce their software spend; what's going on with fintech; and even fake beef! Let's have some fun!

Alex

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TechCrunch Top 3

  • India doesn't like deepfakes: New Delhi has issued a warning that digital platforms could get banned from the country if they don't take steps to monitor for and quickly take down unauthorized deepfaked videos. The precipitating factor in this case was a deepfaked video of a cricket player that was used to endorse a gambling app. India has sharpened its regulation of its technology industry and market in recent years as it continues to grow.
  • Apple is willing to bend a tiny amount: Now that the U.S. Supreme Court has declined to hear an appeal of Epic's case against Apple over allowing developers to link out from its App Store and use alternative payment methods, the iPhone maker will require companies that do link out to still pay a 27% fee. Down from 30%. And apps that do link out still have to allow for normal Apple payments and fees. Call it a corporate middle finger.
  • AI vs. SaaS: Vertice, a startup that wants to use AI to help its customers save on their overall software spend, just raised $25 million. It's growing very quickly, scaling to revenues in the double-digit millions, with ARR growing seven-fold in 2023, writes Ingrid Lunden. Using new technology to save money on older tech? Very meta, very cool.
TechCrunch Top 3 image

Don't miss these

Fullcast raises $34M to track revenue teams: Do you have a bunch of products, revenue lines and sales teams? Tracking the milieu can be a big, complicated, messy task. That's something the founders of Fullcast learned at Microsoft and Salesforce. So they came up with software that allows companies to manage and track the performance of each of their revenue-generating teams by connecting to existing software. Fullcast currently has revenue of $6.5 million, meaning that revenue operations (RevOps?) is a category with legs.

Build a Rocket Boy snags $110M: Founded by a former developer of the Grand Theft Auto games, Build a Rocket Boy has raised a massive round to help fund the development and launch of several titles, one of which could compete with Roblox. Given the layoffs we've seen this year in the gaming industry, this round stood out to me for being nearly counter to the wider narrative. Also, who doesn't love seeing some capital flow towards art?

N26 says 'hallo' to stock trading: Berlin-based neobank N26 is getting into the equities and ETF game. The move is not surprising, as adding new investing features could help the company expand its revenue per user, which all fintech startups seek to do as they scale.

Samsung is coming with new hardware: Today at 1 p.m. E.S.T., Samsung will unveil its newest flagship smartphone, the Galaxy S24. We expect new hardware, but also some AI elements that may be worth paying some attention to.

Sierra Space lands part of a big satellite deal: Space-focused startups are having a good start to the year. Sierra Space has been picked, along with Lockheed Martin and L3Harris, to build 54 satellites in deals collectively worth $2.5 billion. The development comes in the wake of Rocket Lab snagging a similar contract worth $515 million last week. Space is a massive market, and it's good to see startups getting a piece of the action.

Fake beef: No, I am not discussing synthetic arguments; I'm talking about artificial beef, the kind you can eat. Aleph Farms has gotten the green light in Israel to produce and sell its cultivated beef product in the country. This is not a plant-based replacement; it's actual meat grown in a lab. Perhaps it will prove tasty. Anything to improve our factory farming food chain is good by me.

And in the United States, regulators are turning up the pressure on companies that experienced data breaches. "It might seem like it's never been a riskier time to work in cybersecurity," writes Zack Whittaker.

Don't miss these image

Image Credits: anon-tae / Getty Images

How much would you pay to shop?

If retail therapy is the kind of mental health management you prefer, how would you feel about a service that you have to apply to join and then costs $1,000 per month before you actually get to buy anything? That's the bet behind Long Story Short.

I am completely uncertain how popular the product will be, but it certainly has a bold business model. I just hope Amazon isn't taking notes.

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Tuesday, January 16, 2024

Drizly loses its buzz as Uber winds it down

TechCrunch Newsletter
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By Christine Hall

Tuesday, January 16, 2024

Welcome to the very first issue of TechCrunch PM! By now you should have enjoyed the TechCrunch AM version with your coffee and donut. If you haven't yet heard about the great things happening with the TechCrunch newsletters in 2024, here's more from TechCrunch editor in chief Connie Loizos.

Let's dig in!

Christine

 image

Image Credits: Getty Images

TechCrunch PM Top 3

Uber is shuttering Drizly: After acquiring Drizly three years ago, Uber is closing the alcohol delivery service in March. During this entire time, Drizly remained an independent company. Uber was supposed to integrate Drizly into UberEats, and now we know why that didn't come to fruition.

Supreme Court says, “No thanks”: In a surprise move, the Supreme Court decided not to hear the antitrust case between Apple and Fortnite maker Epic Games that related to Apple's App Store. This is a surprise because a jury had already ruled in Epic's favor in a similar suit involving Google. The original ruling still stands, but app makers can steer their customers to the web from links inside their apps.

Beeper users say Apple is not playing nice: Just when we thought the Apple-versus-Beeper beef was over, there is a new development. The iMessage-on-Android Beeper Mini was removed from the Play Store last week, and now Apple customers using Beeper's apps report that they've been banned from using iMessage on their Macs.

TechCrunch PM Top 3 image

Image Credits: Emmanuel Dunand / AFP / Getty Images

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More top reads

Biting more into the Apple: The Apple Vision Pro headset is still set for sale on February 2. It will include features such as 150 3D movies, immersive films and series, a Travel Mode feature, streaming services like Disney+ and Amazon Prime Video and more. In particular, Travel Mode makes it so you can use the headset on an airplane. If you're nice, your seatmate might share with you. Meanwhile, over on TechCrunch+, some things are going to have to change for Apple to stay on its long-term growth trajectory.

Pinecone goes serverless: Pinecone launches Pinecone Serverless, a new and significantly enhanced serverless architecture to power its service. Enhancements are in the way of cost reduction, says the company. That's because Pinecone Serverless now separates reads, writes and storage, which means it can handle a massive amount of data.

OpenAI wants you: That's right, you could be one of the lucky ones that OpenAI turns to for ideas on how to ensure its future AI models "align to the values of humanity." First, the AI startup is forming a Collective Alignment team made up of researchers and engineers that will create a system to collect and analyze all of the ideas.

Another VC source: Thomvest Ventures has a fresh fund of $250 million in capital commitments that it intends to deploy into the areas of financial and real estate technology, cybersecurity, cloud and AI/data infrastructure. The venture capital firm, under the helm of Peter Thomson, has already invested in companies such as Cohere, Kabbage and LendingClub, so it knows what it's looking for. That could be your startup.

Ivanti is hacked: Cybersecurity company Volexity said that China state-backed hackers infiltrated Ivanti's widely used corporate VPN appliance. And now they have begun mass-exploiting two critical zero-day vulnerabilities. Over 1,700 of the appliances are said to have been hit, affecting its customers in the aerospace, banking, defense, government and telecommunications industries.

Snyk acquires Helios: Snyk, a developer-focused security company, has acquired Helios, a Tel Aviv–based startup that helps developers troubleshoot and understand their microservices in production. This is Snyk's second acquisition in this sector after acquiring Enso Security back in June 2023. It also shows that smaller startups have made inroads in solving certain security pain points being felt by enterprises.

More top reads image

Image Credits: Apple

On the pods

Grab your spoon and a carton of milk because this week on Found we're talking to Magic Spoon co-founder and CEO Gabi Lewis.

Magic Spoon creates cereal flavors that play on our nostalgia for Froot Loops and Cocoa Puffs with a grown-up high-protein twist. Dominic-Madori and Becca talk with Gabi about how he and his co-founder prioritized product-market fit and found investors who didn't think cereal was dead.

They also talked about:

  • What Gabi learned from his previous startup Exo, which made cricket-protein bars and how he's changing his leadership style at Magic Spoon.
  • The transition from being a solely DTC brand to in-store retailer and how he's learned to manage buyer relationships and store-to-store drama.
  • How meticulously they develop new cereals and how they've incorporated customer feedback.

Read More

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Image Credits: Bryce Durbin

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