Another penalty for Spain’s homegrown on-demand delivery app and dark store operator, Glovo — which has been fined close to €57 million (~$62M) for breaching local labor laws by falsely classifying 7,800+ of its delivery couriers in Madrid as self-employed, per local newspaper El Diario. Citing sources familiar with the Labor department’s investigation of Glovo,
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Electric vehicles accounted for nearly 6% of all new cars sold in the U.S. in 2022, an increase from 3.1% the year before, and that number will continue to grow over the coming years. While it’s still a young industry, the ecosystem surrounding EVs — from EV charging and installation to insurance products and parking
Solar-powered electric vehicle maker Lightyear said it’s halting production on its flagship Lightyear 0, its premium EV with a sticker price of €250,000. Despite only starting production on the vehicle three months ago, Lightyear is restructuring to focus on building a more affordable model, the Lightyear 2 for around €40,000, reports Electrek. The news comes
Pasqal, a Paris-based quantum computing startup, today announced that it has raised a $100 million Series B funding round let by Singapore’s Temasek. In addition to Temasek, existing investors Quantonation, the Defense Innovation Fund, Daphni and Eni Next, as well as new investors European Innovation Council (EIC) Fund, Wa’ed Ventures and Bpifrance (through its Large
Bumble is putting the phrase “Netflix and Chill?” to the test with the launch of a weekly in-app Netflix-themed question game called “Netflix Nights In” that asks users questions about a popular Netflix show. Users can play against their match to see who can answer all the questions correctly. According to a recent Bumble survey,
Bloomberg’s Mark Gurman joins Caroline Hyde and Ed Ludlow to discuss Apple’s plan to unveil its first mixed-reality headset this year, and how its lightweight augmented-reality glasses have been postponed due to technical challenges. #apple #amazon #gadgets #technology
The same day Microsoft invested billions in OpenAI, McKinsey snatched up an enterprise-focused AI firm, Iguazio, for a relative steal. The consulting giant reportedly paid around $50 million for Iguazio, a Tel Aviv-based company offering an MLOps platform for large-scale businesses — “MLOps” referring to a set of tools to deploy and maintain machine learning
Today, baby registry and product discovery platform Babylist announced that it has acquired health and wellness tool Expectful for an undisclosed price. The deal, announced today, brings together two companies focused on parental support, now helping people navigate everything from eco-friendly diapers to mental wellness around fertility. The overlap, however, is in more than the mission.
The M2 Air is as close as Apple has ever come to the perfect MacBook. It’s a kind of platonic ideal for the category, and the culmination of key updates to the product line, including the arrival (and upgrade) of Apple silicon and the company’s acceptance that some things (bad keyboards, Touch Bar) simply weren’t
Meta is expanding its partnership with the NBA and WNBA to offer more than 50 live games in VR on Meta Quest, the company announced on Monday. The Meta Quest is the official headset of the NBA, as the company signed a deal with the league back in 2020. The company will deliver a package
Eugene Y. Mar Contributor Eugene Y. Mar is a partner with Farella Braun + Martel LLP in San Francisco, leading the firm’s Technology Industry Group. Thomas J. Pardini Contributor Thomas J. Pardini is a senior associate with Farella Braun + Martel LLP in San Francisco, representing clients in intellectual property litigation. Tech companies and startups
Microsoft today announced that it’s extending its partnership with OpenAI, the startup behind art- and text-generating AI systems like ChatGPT, DALL-E 2 and GPT-3, with a “multi-year, multi-billion-dollar” investment. OpenAI says the infusion of new capital — the exact amount of which wasn’t disclosed — will be used to continue its research and “develop AI that
Veteran tech giant PayPal is facing an antitrust investigation in Germany — where the Federal Cartel Office (FCO) has announced it’s looking into its rules on surcharges. The regulator is concerned that restrictions PayPal imposes on merchants could be harming competitors and inflating costs for consumers by restricting price competition. Clauses in PayPal’s terms the
Apple’s latest silicon innovations shine in the Mac Mini. The tiny desktop computer is the latest Apple computer fitted with the M2 chipset. For $599, buyers can opt for the M2 or spend $1299 for the impressive M2 Pro, which features unique benefits. For the last several days, my M1 Mac Mini sat on the
Music streaming service Spotify has announced that it will be conducting a round of layoffs that will impact around 6% of its global workforce. In its most recent earnings release, the company said that there were 9,808 full-time employees working for Spotify. Today’s move will impact around 600 employees. “Like many other leaders, I hoped
Compound Investor Michael Dempsey joins Caroline Hyde and Ed Ludlow to discuss the booming VC interest in generative AI and machine learning, what are the trends he is looking at, and why some of the hype around generative AI has sometimes gotten ahead of reality.
Welcome to The Interchange! If you received this in your inbox, thank you for signing up and your vote of confidence. If you’re reading this as a post on our site, sign up here so you can receive it directly in the future. Every week, I’ll take a look at the hottest fintech news of the previous week.
Welcome back, climate tech readers! Like last week, we’ve got a full slate once more, from food waste to wastewater and more. Let’s dive in. Image Credits: Mill Industries After selling Nest to Google for $3.2 billion, Matt Rogers is no stranger to scaling fast. But unlike last time, Rogers isn’t interested in selling so
W elcome to the TechCrunch Exchange, a weekly startups-and-markets newsletter. It’s inspired by the daily TechCrunch+ column where it gets its name. Want it in your inbox every Saturday? Sign up here. Buy now, pay later is an alluring option for consumers, perhaps even more so in a recession. But with rising debt and inflation,
Bloomberg’s Peter Blumberg joins Caroline Hyde and Ed Ludlow to discuss how the securities fraud trial could cost the Tesla CEO billions of dollars from his rapidly diminishing fortune.
Welcome to Startups Weekly, a nuanced take on this week’s startup news and trends by Senior Reporter and Equity co-host Natasha Mascarenhas. To get this in your inbox, subscribe here. It kind of feels like tech forgot its umbrella. Like, it remembered to pack its water bottle, wear the right shoes and layer up, but
Howdy, folks! Happy Friday. While our fearless Week in Review leader Greg enjoys parental leave, I’m filling in, curating the latest on the tech news front. It was a roller coaster of a week once again as economic headwinds took a brutal, demoralizing toll, and as chaos reigned at Elon Musk’s Twitter. Somewhere in the
Depending on who you ask, generative AI is either massively overhyped or undervalued. Defined as algorithm-driven tech that creates text, art and other forms of media given a prompt, it’s captured the attention of major VC backers who’ve piled hundreds of millions of dollars into firms like Jasper and Stability AI. But generative AI has
You know what it’s like — you’ve been on vacation and you’ve taken 28 million photos, and you just want to select the best 12 so you can make a calendar. Ain’t nobody got time for that — and that’s what GoodOnes is here to help you with. The app is in early access mode
Many of us would feel better if we ate better. But for patients with chronic diseases, the issue is more pressing: Fixing their diet is often key to keeping their condition under control. According to the CDC, six in 10 adults in the U.S. have a chronic disease such as diabetes or heart conditions. Millions
Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. This week, Natasha Mascarenhas, Mary Ann Azevedo and Rebecca Szkutak jumped on the mic to talk through a diverse news week. Shout-out to our producer, Theresa Loconsolo, for putting together a script, and TC’s Andrew Mendez for
To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PST, subscribe here. Happy Friday! Join us in wishing Lorenzo a very warm welcome to the team! He’s joining our crack team of cybersecurity reporters, working alongside Zack and Carly. He just published his first
Area 120, the Google in-house incubator responsible for products such as Checks, Tables, Stack and ThreadBite, has been significantly affected by broader layoffs at Google parent company Alphabet. A spokesperson tells TechCrunch via email that the majority of the Area 120 team has been “winded down,” and that only three projects from the division will
Though investment in food technology has slowed in line with the rest of the venture capital world, the industry recently achieved some milestones that suggest the sector and the government are moving into alignment. In fact, some investors feel that 2023 will be the year when alternative seafood companies and products make notable strides. More
Shadow is making its first acquisition as it announced that it would snatch up Genymobile, the company behind Genymotion. Shadow is better known for its cloud computing service that works particularly well for cloud gaming. It also offers a cloud storage service based on Nextcloud. As for Genymobile, the French startup has been around for
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