Daily Crunch: European Union demands $1B penalty from VW, BMW for hiding emissions – TechCrunch



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Hi there and welcome to Each day Crunch for July 9, 2021. We’ve made it to Friday, y’all, be proud. However we are able to’t chill out simply but — there’s quite a bit to get by way of immediately. From deceitful auto corporations now posing as tech corporations to the present enterprise capital frenzy, we’ve all of it. Let’s go! — Alex

The TechCrunch Prime 3

  • Startups have by no means had it so good: That’s our learn of the Q2 2021 enterprise capital market. Information had been smashed all over the world, a report variety of unicorns had been born and valuations ticked up. In case you are a founder contemplating elevating capital, now might be an excellent time to take action.
  • Biden takes on megacorps: We jokingly name the public-company part of this article Large Tech as a result of, effectively, probably the most well-known expertise corporations are freakin’ large. And that has plenty of of us fearful that some companies have develop into so giant that they need to be damaged as much as engender extra competitors. Tech corporations disagree, naturally. Regardless, the noise from the U.S. authorities relating to goliath corporations is beginning to lead to motion.
  • What’s forward for European startups? We often reserve these three slots for the most important information of the day, however I needed to share an essay written by a German enterprise capitalist about his nation. The investor is bullish, however has two concepts relating to the place the nation might do higher: worker inventory choices and rules relating to spinoffs. It’s value studying if you wish to contemplate why some nations wind up with extra energetic startup communities than others.


First, key startup information:

  • Korean grocery startup Kurly raises $200M: The web grocer is now value greater than $2 billion. Much more, its plans for an IPO in the USA are kaput. As a substitute, the corporate will look to record regionally sooner or later. Chop from the Didi mess or one thing else? Regardless of the case, the corporate is one to keep watch over.
  • In the present day’s Tiger spherical? Brazilian HR startup Flash: The corporate simply put collectively a $22 million Sequence B that the hyper-caffeinated enterprise capital group led. The São Paulo-based startup gives a brand new option to supply advantages within the nation.
  • $500M extra for Ola: The ride-hailing market’s insatiable urge for food for capital was fed one other half-billion immediately with information that India’s Ola has raised new funds from “Temasek and an affiliate of Warburg Pincus,” per TechCrunch. Possibly the Didi fiasco is being considered by traders as a one-off, not less than relating to the world of on-demand rides.

Second, from the enterprise capital aspect of the market:

  • TechCrunch’s Ron Miller wrote a profile of The Artemis Fund, which is value studying. The investing group, which was based by ladies and infrequently invests in ladies, has “ invested in 11 corporations with plans to put money into 4-5 extra [before raising its] the subsequent fund.”
  • DN Capital has raised a $350 million fund after a number of of the startups that it backed went public. The agency invests largely in Europe versus the U.Okay., a market the place its companions say extra U.S.-based enterprise capitalists present up.
  • Three enterprise capitalists banded collectively to jot down up some suggestions for robotics-focused startups. So, if you’re constructing {hardware} that strikes, that is for you.

Three analysts weigh in: What are Andy Jassy’s prime priorities as Amazon’s new CEO?

Now that he’s stepping away from AWS and taking on for Jeff Bezos, what are the most important challenges going through incoming Amazon CEO Andy Jassy?

Enterprise reporter Ron Miller reached out to 3 analysts to get their take:

  • Robin Ody, Canalys
  • Sucharita Kodali, Forrester
  • Ed Anderson, Gartner

Amazon is listed second within the Fortune 500, nevertheless it’s not all sunshine and roses — sustaining development, unionization, and the potential for antitrust regulation at residence and overseas are only a few of his duties.

“I feel the most important to-do is to only proceed that momentum that the corporate has had for the final a number of years.,” stated Kodali. “He has to guarantee that they don’t lose that. If he does that, I imply, he’ll win.”

(Additional Crunch is our membership program, which helps founders and startup groups get forward. You’ll be able to enroll right here.)

Large Tech Inc.

Wrapping up the newsy portion of immediately’s missive, two remaining entries. First, a dig into why the EU simply fined quite a lot of automakers. Rebecca stories:

As environmental points actually got here of age within the 1990s, sure German automakers had been assembly in secret teams to verify their automobiles would proceed to industriously contribute to greenhouse gasoline emissions. In line with the European Union, Volkswagen, Audi, Porsche, BMW and Mercedes-Benz mum or dad firm Daimler have been illegally colluding to limit competitors in emission cleansing for brand new diesel passenger automobiles, primarily slowing the deployment of cleaner emissions tech.

Sure, you will be very mad about that.

Lastly, from the world of Fb, excellent news for all you WhatsApp customers on the market. It is possible for you to to pick out an choice to ship higher-quality photos and movies, getting round what TechCrunch referred to as the service’s “iffy picture compression.” See, not all information is unhealthy information!

TechCrunch Consultants: Progress Advertising

Illustration montage based on education and knowledge in blue

Picture Credit: SEAN GLADWELL (opens in a brand new window) / Getty Pictures

We’re reaching out to startup founders to inform us who they flip to when they need probably the most up-to-date development advertising and marketing practices. Fill out the survey right here.

Learn one of many suggestions we’ve obtained under!

Title of marketer: Nikita Vorobyev

Title of recommender: Ruby Membership

Advice: “Nikita and his firm, Buildrbrand, have labored tirelessly to deliver my concept to life and did all the things in his energy to get it to the extent it’s immediately. He and his workforce created a world-class conditional quiz visible expertise that I feel can be actually cool for him to share with the business. He doesn’t know I nominated him, however I undoubtedly needed to offer again to him in any means I can since I imagine his company creates a few of the finest manufacturers going viral on-line proper now.”


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