Pet ownership has steadily increased through the years, with many people bringing pets into their families during the past three years. That, in turn, boosted the pet industry itself, with the market’s value increasing from $90 billion in 2018 to over $120 billion in 2021. Of that, $50 billion was spent in the U.S. on
An entrepreneur might have the best idea since sliced bread, but if they’re unable to protect it with the relevant patents, trademarks, or copyrights, then there’s a good chance they won’t see the fruits that their labor otherwise might deserve. However, the intellectual property (IP) management process is fraught with friction, from the initial idea-evaluation
Rethink Ventures just announced a €50 million specialist fund focused on mobility, automotive and logistics. With keywords “clean, safe, and digital,” the Munich-based firm is focusing especially on Europe-based startups at the early stage, stretching into Series A financing. LPs include ZF Ventures, Hellmann Worldwide Logistics, KION Group, Berylls and HAVI, as well as the
We hope you’ve filled out your brackets by now because the madness is officially here. Last night kicked off NCAA Selection Sunday, where the full March Madness schedules were finalized for the NCAA men’s and women’s basketball tournaments. Fans that want to watch all the men’s basketball games can subscribe to live TV streaming services
Tesla CEO Elon Musk took to the red carpet in New York at the Met Gala on May 2. Musk took his mother Maye as his date. Musk mugged for the cameras and talked about why he bought Twitter for $44 billion. ——– Like this video? Subscribe to Bloomberg Technology on YouTube: https://www.youtube.com/channel/UCrM7B7SL_g1edFOnmj-SDKg Watch the
Silicon Valley Bank’s clients received a surprising email in their inboxes late Monday evening from the bank’s new CEO Tim Mayopoulos stating that the institution was not only open, it was also business as usual. “Silicon Valley Bank, N.A. is open and conducting business as usual,” the email, obtained by TechCrunch from multiple sources, read.
The Indonesian used car market is on a course for growth fueled by a number of trends: the increasing digitization in used car sales; a larger variety of finance options; and the COVID-19 pandemic, which pushed the idea of private car ownership. Broom, an Indonesia-based auto-financing startup that wants to help used car dealers work more
Amazon launched today its new interactive NCAA bracket feature on Fire TV, giving users the ability to create a bracket and track their progress throughout the March Madness tournament. Fire TV users can find the feature via the new dedicated March Madness hub on the home screen or by saying “Alexa, fill my bracket.” They
As the situation is starting to solidify around Silicon Valley Bank, many international companies that interacted in one way or another with the regional U.S. bank are now trying to understand the implications of the bank failure. Regulators in Canada and Germany have decided to freeze Silicon Valley Bank’s branches in these respective countries —
No reason to panic more over VC fund performance — yet Rebecca Szkutak 9 hours Over the last year, the venture industry has had a tough time. Many feared that the bull market had pushed valuations to unsustainable heights and would result in a windfall of startup down rounds and cash burn, which would have
Diamonds: carbon, transparent, expensive, symbolic of love and commitment — and many of them come dripping with human rights abuses. They also come with a heavy environmental burden, even the lab-grown ones. So what if diamonds could be done differently, with proper traceability and sustainability? That’s exactly where Aether, a diamond-growing company based in New
HSBC UK is acquiring Silicon Valley Bank UK for a symbolic £1. The deal comes after a tense weekend of frantic negotiations by the U.K. government, regulators and a suite of other potential suitors in the wake of the U.K. business, a subsidiary of the troubled U.S. entity, entering insolvency procedures on Friday. The deal
Stop me if you’ve heard this one before: Apple is building a mixed reality headset that’s set to ship this year. The company’s MR (AR+VR) hardware ranks among its longest-lasting rumor cycles. Some (Apple Watch) have borne fruit. Others (that pesky Apple TV set) not so much. The category doesn’t feel like a foregone conclusion
Spotify has bigger plans for the technology behind its new AI DJ feature after seeing positive consumer reaction to the new feature. Launched just ahead of the company’s Stream On event in L.A. last week, the AI DJ curates a personalized selection of music combined with spoken commentary delivered in a realistic-sounding, AI-generated voice. But
Puneet Gupta Contributor Puneet Gupta is the CEO and co-founder of Amberflo.io. He was formerly a general manager at AWS. I spent several years as a general manager at Amazon Web Services and my teams launched two Tier 1 services: Amazon CloudSearch and Amazon OpenSearch. Like every product at AWS, these were scaled with a
Signature Bank is the second casualty of the ongoing banking crisis in the U.S. The New York-based financial institution stopped operating abruptly on Sunday — customers will be made whole. Regulators said that Signature Bank also caused a systemic risk and could threaten the U.S. banking system. In other words, the government is stepping up
U.K. tech founders, investors, and ecosystem leaders have been giving their reactions to the news that SVB UK will be rescued by HSBC. The bank purchased the operation for a nominal £1 overnight, averting insolvency proceedings that were due to start this morning. It said that it will be “business as usual” for its customers,
Twitter Inc. was recovering from its second outage in less than a week, after an “internal change” caused users to get error messages when clicking on links within tweets. Kurt Wager reports on “Bloomberg Technology.” ——– Like this video? Subscribe to Bloomberg Technology on YouTube: https://www.youtube.com/channel/UCrM7B7SL_g1edFOnmj-SDKg Watch the latest full episodes of “Bloomberg Technology” with Caroline
Global payroll provider Deel plans to provide $120 million of its own cash off its balance sheet to support startups’ payroll operations in the wake of Silicon Valley Bank shutting down. It has teamed up with Andreessen Horowitz (a16z) and Y Combinator – both of which are investors in Deel – to offer the support
As Silicon Valley Bank collapsed before our eyes on Thursday, a founder told me that the world felt like it did when COVID-19 first bared its teeth. I scoffed at his analogy at first: are we really using a still on-going and devastating pandemic to describe the fall of a prominent bank? But then I
In the US today, The Federal Deposit Insurance Corp. continued the auction process for the beleaguered Silicon Valley Bank, with final bids due by Sunday afternoon, according to Bloomberg. Any agreed sale may not be known until late Sunday, if at all. It’s still possible that no deal will be reached and the bank will
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.
An auction for the remaining assets of the failed Silicon Valley Bank is reportedly underway, with final bids due this afternoon and a result potentially arriving late Sunday, according to Bloomberg. Bloomberg says that the U.S. Federal Deposit Insurance Corp. (FDIC), which stepped in and shut down SVB on Friday as it was experiencing an unprecedented
The dust has yet to settle in the largest bank run in U.S. history, a collapse that in just 48 hours dismantled the tech startup-focused Silicon Valley Bank. But already a debate is raging in the venture capital community and investors are picking sides. On Friday, a group of more than two dozen venture capital
Brex CEO Henrique Dubugras is currently working to raise over a billion dollars in a weekend to help fund an emergency bridge credit line that he believes will help startup customers impacted by Silicon Valley Bank’s collapse be able to make payroll next week. Dubugras declined to comment on how much capital has been committed
Bloomberg’s Mark Gurman joins Ed Ludlow to discuss how Apple is gearing up to launch its next slate of laptops and desktops, including a new iMac. ——– Like this video? Subscribe to Bloomberg Technology on YouTube: https://www.youtube.com/channel/UCrM7B7SL_g1edFOnmj-SDKg Watch the latest full episodes of “Bloomberg Technology” with Caroline Hyde and Ed Ludlow here: https://tinyurl.com/ycyevxda Get the
Serial entrepreneur and venture capitalist Garry Tan is less than three months into his new job as the CEO of Y Combinator, one of the most famed accelerator programs in tech. And it seems like it’s been an eventful onboarding process thus far. Along with pretty much every other corner of the startup world, YC
Brett Adcock Contributor Brett Adcock is the founder of Figure, an AI robotics company building a general-purpose humanoid robot. Previously, he founded Archer Aviation, an urban air mobility company that went public at $2.7B and Vettery, a machine learning-based talent marketplace that was acquired for $110M. Yesterday, the U.S. experienced its second-largest bank failure in
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. Enterprise cloud spend is holding up well, but large companies are looking into vendor consolidation. This makes cloud marketplaces an increasingly relevant sales
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. Writer’s note: We’re breaking from our usual formatting this week because there was a once-in-a-generation collapse of one of the biggest banks in the country.
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