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Suborbital space tourism finally arrives | FCC prepares to run public C-band auction | The big four in the U.S. launch industry — United Launch Alliance, SpaceX, Blue Origin and Northrop Grumman — hope to be one of two providers that will receive five-year contracts later this year to launch national security payloads starting in 2022. | China’s launch rate stays high | The International Space Station is the largest ever crewed object in space.

Everything is a Brand

Extra Crunch roundup: Antitrust jitters, SPAC odyssey,...

January 16, 2021

Some time ago, I gave up on the idea of finding a thread that connects each story in the weekly Extra Crunch roundup; there are no unified theories of technology news. The stories that left the deepest impression were related to two news pegs that dominated the week — Visa and Plaid calling off their $5.3 billion acquisition agreement, and sizzling-hot IPOs for Affirm and Poshmark. Watching Plaid and Visa sing “Let’s Call The Whole Thing Off” in harmony...

Marc Lore leaves Walmart a little over...

January 15, 2021

Marc Lore, the executive vice president, president and CEO of U.S. e-commerce for Walmart, is stepping down a little over four years after selling his e-commerce company Jet.com to the country’s largest retailer for $3 billion. Lore’s tenure at the company was a mixed bag. Walmart instituted several new technology initiatives under Lore’s tenure, but the Jet.com service was shuttered last May and other initiatives from Lore, like an option to have customers order items via text, was also...

Coinbase commits to a ‘better customer experience’...

January 15, 2021

Coinbase has a problem. As interest in Bitcoin has soared along with its price, the popular cryptocurrency exchange has found itself the target of a growing spate of angry customers who haven’t been able to access customer service. A quick look at Twitter tells the story. As one upset user of the service ranted earlier today: “Multiple issues over the last month which cost me $$$ several open cases and 0% response?? When are you going to help me...

Gemini is launching a credit card with...

January 14, 2021

Cryptocurrency exchange company Gemini is acquiring Blockrize and announcing a new product today based on Blockrize’s work. Later this year, the company is launching a credit card that works like a regular credit card — but you earn bitcoin rewards based on your purchases. The credit card will work like any other credit card and will be available in the U.S. Customers will earn up to 3% in bitcoin rewards (again, up to 3%). You’ll be able to earn...

Accel Partners heads down to Georgia to...

January 14, 2021

DecisionLink, an Atlanta-based company that provides software for cost-benefit analyses of business services from a customer’s perspective, has managed to woo one of Silicon Valley’s top venture firms to invest in its latest $18.5 million round of funding. Accel Partners has a long-standing reputation as one of the Bay Area’s premier investment firms, and it’s leading DecisionLink’s latest round. Their investment comes on the heels of billion dollar valuations for Atlanta companies like Calendly, Greenlight Financial Technologies, OneTrust, and...

Upgrade launches checking accounts and debit cards

January 14, 2021

Fintech startup Upgrade has been positioning itself as a neobank. And yet, the company has mostly been focused on personal loans and more recently credit cards. You couldn’t just replace your bank account with Upgrade. Upgrade is adding two important missing pieces of the puzzle with checking accounts and debit cards. With today’s launch, Upgrade competes more directly with other challenger banks, such as Chime, N26 and others. You can open a checking account, control it from a mobile...

Grab Financial Group raises $300 million Series...

January 14, 2021

Grab Financial Group said today it has raised more than $300 million in Series A funding, led by South Korean firm Hanhwa Asset Management, with participation from K3 Ventures, GGV Capital, Arbor Ventures and Flourish Ventures. The Financial Times reports that the funding values Grab Financial, a subsidiary of ride-hailing and delivery giant Grab, at $3 billion. Both K3 Ventures and GGV Capital were early investors in Grab, which was founded in 2012. Back in February 2020, Grab announced...

Daily Crunch: Airbnb cancels all DC bookings...

January 13, 2021

Airbnb takes a big step to avoid violence at the inauguration, Intel gets a new CEO and Affirm goes public. This is your Daily Crunch for January 13, 2021. The big story: Airbnb cancels all DC bookings during inauguration week Airbnb said today that “in response to various local, state and federal officials asking people not to travel to Washington, D.C.” it will be canceling all reservations in the area for next week, which is the week of President-elect...

Venture capitalists react to Visa-Plaid deal meltdown

January 13, 2021

Congratulations, you’re no longer selling your company for billions of dollars! As strange as it sounds, that’s the leading perspective from venture capitalists concerning Plaid, now that its much-touted sale to Visa has fallen apart. The $5.3 billion deal would have seen banking API startup Plaid join consumer payments and credit giant Visa. But the American government took a dim view of the deal, and according to Axios reporting, Plaid felt like it could be worth more money in...

Rho, a startup bank aimed at high-growth...

January 13, 2021

Rho Technologies, the NYC-based fintech behind Rho Business Banking, has raised a $15 million Series A round led by M13 Ventures with participation from Torch Capital, and Inspired Capital. The company will use the proceeds to further expand their commercial banking platform aimed at high-growth businesses, starting with today’s launch of Rho AP. The platform is oriented towards companies that need more autonomy in business banking and will map quite well to the current distributed nature of work, post-pandemic....

Apple announces new projects related to its...

January 13, 2021

Last June, Apple committed $100 million to a Racial Equity and Justice Initiative (REJI). Lisa Jackson, Apple’s vice president of environment, policy and social initiatives, is leading the initiative. Today, Apple is sharing some of its work as part of the initiative. “We’re launching REJI’s latest initiatives with partners across a broad range of industries and backgrounds — from students to teachers, developers to entrepreneurs, and community organizers to justice advocates — working together to empower communities that have...

Rapyd raises $300M on a $2.5B valuation...

January 13, 2021

A wave of organizations — propelled by global Covid-19 pandemic circumstances — are moving their commercial and financial interactions online, and today one of the big players helping to enable that shift is announcing a significant round of growth funding to expand the tools and services that it provides to them. Rapyd, which provides an API-based “fintech-as-a-service” platform covering payments, banking services, fraud protection and more, has raised $300 million, funding that CEO and co-founder Arik Shtilman said in...

Daily Crunch: Visa calls off Plaid acquisition

January 12, 2021

Regulatory action prompts Visa to back off a fintech acquisition, Uber and Moderna partner and Checkout.com is valued at $15 billion. This is your Daily Crunch for January 12, 2021. The big story: Visa calls off Plaid acquisition The deal, valued at $5.3 billion, was first announced just over a year ago. However, the Department of Justice filed suit to block the acquisition in November, arguing that it would “eliminate a nascent competitive threat.” In today’s announcement, Visa said...

Visa will not acquire Plaid after running...

January 12, 2021

Visa and Plaid called off their agreement this afternoon, ending the consumer credit giant’s takeover of the data-focused fintech API startup. The deal, valued at $5.3 billion at the time of its announcement, first broke cover on January 13, 2020, or nearly one year ago to the day. However, the Department of Justice filed suit to block the deal in November of 2020, arguing that the combination would “eliminate a nascent competitive threat that would likely result in substantial...

2021: A SPAC odyssey

January 12, 2021

There are a number of ways to take a private company public: You can pursue a traditional IPO, sell a chunk of shares at a set price and start trading. You can direct list, and merely start to trade. You can host a hybrid auction-offering, like what Unity did. Hell, Google showed us back in the day that a reverse-Dutch auction is possible, after which no one else deigned to try it. And then there’s the blank-check method: Instead...

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