Major investor Prosus has written off its 9.6% stake in Indian edtech firm Byju’s to zero, signaling a loss of confidence in the once-promising startup. Prosus, the largest external investor in Byju’s, disclosed the adjustment in its assessment of Byju’s worth on Monday. Prosus wrote off the startup “due to the significant decrease in value
Just a few weeks ago, 18-year-old best friends Christopher Fitzgerald and Nicholas Van Landschoot graduated from high school. While most teens their age would be living it up in their last summer before college or the adult jobs that await them, Fitzgerald and Van Landschoot are hunkered down in a VC office in Boulder, Colorado.
Who’s afraid of the Big Bad DEI? The acronym is near-poisonous now — a word that creates almost instant tension between those who embrace it and those who want it dead. A prime example of this divide was the response to startup Scale AI founder Alexandr Wang’s post on X last week. He wrote about
We’re at a transitional moment in streaming — user growth is slowing and major players are looking to consolidate, but the long-promised dream of profitability finally seems within reach (especially if you’re Netflix). The perfect time, then, for The New York Times to interview many of the industry’s big names — including Netflix co-CEO Ted
The human brain has long been a subject of fascination for art and science, which are now both mixed into “Brainstorms: A Great Gig in the Sky,” a new live interactive experience to the tune of Pink Floyd. Interactivity is optional, but memorable. Exhibition visitors can opt in (and pay extra) to have their brain
When former YouTube product manager Kevin Xu, known as “Sir Jack A Lot” on Reddit, turned $35,000 into $8 million trading stocks between 2020 and 2022, many people thought his fortunes, and his way of investing, had peaked, just like 2021’s memestock craze had. Xu doesn’t agree, though, and he’s now building a startup for
The majority of companies struggle to extract value from their data. Several years ago, Forrester reported that between 60% and 73% of data belonging to the average business goes unused for analytics. That’s because the data’s siloed or otherwise pigeonholed by technical and security considerations, making it difficult — if not impossible — to apply analytical tools.
Vox Media’s president, Pam Wasserstein, sent her staff a Slack message and an email on May 29 detailing what the company’s journalists say was shocking news: Vox had signed a content licensing deal with OpenAI. The deal gives the AI company access to Vox’s current content, as well as the entire archive of its journalistic
In 2013, there were 26 reported school shootings in the U.S. That figure rose to 82 a decade later. America has a school shooting problem, this much we can agree on. The cause of — and solution to — the issue, on the other hand, is where things start to fall apart. It has become
Rates of depression, anxiety and suicidal thoughts are surging among U.S. teens. A recent report from the Center of Disease Control found that nearly one in three girls have seriously considered suicide, and a significant number, 13% have actually attempted it. Psychologists have various theories about what’s causing adolescent mental health crises. Some blame the
OpenAI has acquired a company, Rocket, building tools to drive real-time search and data analytics. In a post on its official blog, OpenAI said that it would integrate Rockset‘s technology to “power [its] infrastructure across products.” Members of Rockset’s team will join OpenAI, and Rockset’s existing customers will be transitioned off of Rockset’s platform “gradually.”
Welcome to Startups Weekly — Haje‘s weekly recap of everything you can’t miss from the world of startups. Sign up here to get it in your inbox every Friday. Elon Musk just convinced Tesla shareholders to approve his $56 billion pay package, making him the highest-paid CEO in history — assuming he can dodge a
Aether Fuels has raised $30.4 million of a $34.3 million round, according to an SEC filing. The e-fuels startup is working on producing fuel for aviation and maritime shipping using carbon dioxide and other waste carbon streams. The new round would give the company’s bank account a healthy bump; Aether Fuels had previously raised $8.5
Spotify is introducing a new “Basic” streaming plan in the United States, the company announced on Friday. The new plan costs $10.99 per month and includes all of the benefits of a Premium plan but without the monthly audiobook listening time. The launch of the new streaming plan comes a few weeks after Spotify increased
Gynger, a platform that lends capital to companies for technology purchases, has raised $20 million in a Series A round led by PayPal Ventures, it told TechCrunch exclusively. The financing brings the New York-based startup’s total venture capital raised to $31.7 million and included participation from Gradient Ventures (Google’s AI-focused venture fund), Velvet Sea Ventures,
Venture firms raised $9.3 billion in Q1 according to PitchBook data, which means this year likely won’t match or surpass 2023’s $81.8 billion total. While emerging managers are feeling the fundraising market’s frost the most, some emerging VCs like A* have enough name recognition, and a good enough track record, to still find success. A*,
AI-powered language learning app Speak is on a tear. Since launching in its inaugural market of South Korea in 2019, Speak has grown to over 10 million users, CEO and co-founder Connor Zwick told TechCrunch. Its user base has doubled every year for the last five years, and Speak now has customers in more than 40
Zepto has more than doubled its valuation to $3.6 billion from $1.4 billion in less than a year in a new funding round of $665 million as the Mumbai-based startup intensifies the quick commerce competition in the world’s second largest internet market. Zepto sells and delivers everything from grocery items to electronic gadgets within 10
LTK (formerly LiketoKnow.it and RewardStyle), the influencer shopping app with 40 million monthly users, announced on Thursday the launch of a free direct message tool for creators to instantly share pre-set responses with followers. The new tool, called LTK DM, is integrated into the posts section of the LTK app. When a creator shares an
Ali Rathod-Papier has stepped down from her role as global head of compliance at corporate card expense management startup Brex to join venture firm Andreessen Horowitz (a16z) as a partner and compliance officer, TechCrunch has exclusively learned. Rathod-Papier and a16z declined to comment on the move. According to her LinkedIn profile, Rathod-Papier now “oversees a16z’s
YouTube appears to be taking a firm stance against Premium subscribers who attempt to use a VPN (Virtual Private Network) to access cheaper subscription prices in other countries. This week, a number of users took to Reddit to express their frustration after their Premium plans were canceled for using a VPN to purchase the subscription
The U.S. is facing an accountant shortage. Fewer first-time candidates took the CPA exam in 2022 than in 2006, according to the American Institute of Certified Public Accountants. One possible reason people aren’t as interested in the field is the large amount of drudge work involved: Accountants have to rifle through large amounts of unstructured
As the U.S. Surgeon General is calling for a warning label on social media sites, similar to those found on tobacco products, one startup is launching a set of new tools that put the power to fight app addiction into users’ own hands. Designed for iOS, Roots offers an improvement over traditional screen-time apps by
Four years after acquiring Shine, a French fintech startup that offers bank accounts to freelancers and very small companies, Société Générale has announced plans to sell Shine to Ageras. In 2020, TechCrunch reported that Société Générale spent around €100 million to acquire Shine. It wasn’t a huge acquisition but it attracted quite a bit of
Henrik Fisker once envisioned a burgeoning EV empire at the startup he named after himself, which was to be led by the Ocean SUV. But cracks started showing in that vision almost as soon as the Ocean hit the road in 2023. Fisker cut production targets multiple times, failed to meet sales goals and laid
C12 is announcing that it recently raised an €18 million funding round ($19.4 million at today’s exchange rate). Originally founded in 2020 as a spin-off from the Physics Laboratory of the École Normale Supérieure, the company has been working on a unique process to create quantum computers based on carbon nanotubes. While the concept of
Golf has exploded in popularity in recent years thanks to the pandemic and the popularity of Netflix’s Full Swing documentary series. More than 531 million rounds of golf were played in the U.S. in 2023 alone, according to the National Golf Foundation. Because of this surge in interest, golfers are finding that nabbing a tee
Pok Pok, a kids app maker focused on building play-based learning experiences for the preschool set, has made a name for itself in the iOS developer community after winning both an App Store award for cultural impact and an Apple Design Award. But now the company is ready to expand its reach by bringing its
Series A to B startups — check out the ScaleUp Startups Exhibitor Program at TechCrunch Disrupt 2024! Why Join the ScaleUp Startups Exhibitor Program? Amplify Your ReachShowcase your groundbreaking innovation on the Disrupt Expo Floor, where you’ll catch the eye of 10,000 tech leaders and investors. This is your moment to shine and forge connections
Ask any of the health-focused VCs to name one of the top AI startups and one name comes up over and over again: a company based in Pittsburgh called Abridge. And it’s a startup that launched before OpenAI was a household name and LLMs entered the common Valley vocabulary. In 2019, Shiv Rao, a practicing
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