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

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Hello and welcome to Daily Crunch for July 9, 2021. We’ve made it to Friday, y’all, be proud. But we will’t chill out simply but — there’s quite a bit to get via at this time. From deceitful auto corporations now posing as tech corporations to the present enterprise capital frenzy, we’ve got all of it. Let’s go! — Alex

The TechCrunch Top 3

  • Startups have never had it so good: That’s our learn of the Q2 2021 enterprise capital market. Records had been smashed world wide, a file variety of unicorns had been born and valuations ticked up. If you’re a founder contemplating elevating capital, now might be a superb time to take action.
  • Biden takes on megacorps: We jokingly name the public-company part of this text Big Tech as a result of, effectively, probably the most well-known expertise corporations are freakin’ large. And that has lots of of us apprehensive that some corporations have grow to be 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 ahead for European startups? We normally reserve these three slots for the largest 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 may do higher: worker inventory choices and laws relating to spinoffs. It’s value studying if you wish to think about why some international locations wind up with extra energetic startup communities than others.


First, key startup information:

  • Korean grocery startup Kurly raises $200M: The online grocer is now value greater than $2 billion. Even extra, its plans for an IPO within the United States are kaput. Instead, the corporate will look to record regionally sooner or later. Chop from the Didi mess or one thing else? Whatever the case, the corporate is one to control.
  • Today’s Tiger spherical? Brazilian HR startup Flash: The firm simply put collectively a $22 million Series B that the hyper-caffeinated enterprise capital group led. The São Paulo-based startup gives a brand new technique to supply advantages within the nation.
  • $500M more for Ola: The ride-hailing market’s insatiable urge for food for capital was fed one other half-billion at this time with information that India’s Ola has raised new funds from “Temasek and an affiliate of Warburg Pincus,” per TechCrunch. Maybe the Didi fiasco is being considered by traders as a one-off, at the very least relating to the world of on-demand rides.

Second, from the enterprise capital facet 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 girls and infrequently invests in girls, has “ invested in 11 companies with plans to invest in 4-5 more [before raising its] the next 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 put in writing up some ideas for robotics-focused startups. So, in case you are constructing {hardware} that strikes, this is for you.

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

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

Enterprise reporter Ron Miller reached out to a few 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 just some of his duties.

“I think the biggest to-do is to just continue that momentum that the company has had for the last several years.,” mentioned Kodali. “He has to make sure that they don’t lose that. If he does that, I mean, he will win.”

(Extra Crunch is our membership program, which helps founders and startup groups get forward. You can sign up here.)

Big Tech Inc.

Wrapping up the newsy portion of at this time’s missive, two remaining entries. First, a dig into why the EU simply fined plenty of automakers. Rebecca reports:

As environmental points actually got here of age within the Nineteen Nineties, sure German automakers had been assembly in secret teams to verify their vehicles would proceed to industriously contribute to greenhouse fuel emissions. According to 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 new diesel passenger vehicles, basically slowing the deployment of cleaner emissions tech.

Yes, you could be very mad about that.

Finally, from the world of Facebook, excellent news for all you WhatsApp customers on the market. You will be capable of choose an choice to ship higher-quality photographs and movies, getting round what TechCrunch called the service’s “iffy image compression.” See, not all information is dangerous information!

TechCrunch Experts: Growth Marketing

Illustration montage based on education and knowledge in blue

Image Credits: SEAN GLADWELL (opens in a new window) / Getty Images

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 practices. Fill out the survey here.

Read one of many suggestions we’ve obtained under!

Name of marketer: Nikita Vorobyev

Name of recommender: Ruby Club

Recommendation: “Nikita and his company, Buildrbrand, have worked tirelessly to bring my idea to life and did everything in his power to get it to the level it is today. He and his team created a world-class conditional quiz visual experience that I think would be really cool for him to share with the industry. He doesn’t know I nominated him, but I definitely wanted to give back to him in any way I can since I believe his agency creates some of the best brands going viral online right now.”

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