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The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here. 1. Automattic raises $300 million at $3 billion valuation from Salesforce Ventures Automattic, the company behind WordPress.com, WooCommerce and soon Tumblr, has
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French president Emmanuel Macron announced in a speech ahead of France Digitale Day that the French government has convinced institutional investors to invest more heavily in late-stage VC funds and asset managers in one way or another. Institutional investors have committed to investing $5.5 billion (€5 billion). “We’ll have €2 billion that will go in
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Mitto, a debit card and app designed for “Generation Z” teens, has raised €2 million in seed funding. Backing the round is Spanish bank Banco Sabadell via its innovation and venture arm InnoCells, along with Athos Capital, and Spanish social media influencers “AuronPlay” and “Wismichu”, amongst others. Claiming to plug a gap in existing payment
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Andreessen Horowitz has led a $15 million Series A in US-based job matching platform for nursing vacancies, Incredible Health. Other investors in the funding round include NFX, Obvious Ventures, Precursor Ventures and Gingerbread Capital. To date the recruitment startup has raised a total of $17M. The California startup’s pitch to nursing professionals and hospitals is
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Spotify today took another step in its efforts to build out services for artists to help diversify itself away from a business model predicated on paying music streaming royalties to labels: it has acquired SoundBetter, a music production marketplace for artists, producers, and musicians to connect on specific projects; and for people who are looking to
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Sex, despite being one of the most fundamental human experiences, is still one of those businesses that some advertisers reject, banks are hesitant to financially support and some investors don’t want to fund. Given how sex is such a huge part of our lives, it’s no surprise founders are looking to capitalize on the space.
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Nigerian fintech startup Kuda — a digital-only retail bank — has raised $1.6 million in pre-seed funding. The Lagos and London-based company recently launched the beta version of its online mobile finance platform. Kuda also received its banking license from the Nigerian Central Bank, giving it a distinction compared to other fintech startups. “Kuda is
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McDonald’s is increasingly looking at tech acquisitions as a way to reinvent the fast-food experience. Today, it’s announcing that it’s buying  Apprente, a startup building conversational agents that can automate voice-based ordering in multiple languages. If that sounds like a good fit for fast-food drive thru, that’s exactly what McDonald’s leadership has in mind. In
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Pento, a Danish startup working on a better payroll experience for companies and employees, has raised $2.8 million in seed funding. Leading the round is Point Nine Capital and Seedcamp, with participation from a number of smaller funds and angel investors, including departing Atomico Partner Mattias Ljungman. The company had previously raised $700,000 from the
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Alibaba Group has acquired NetEase Kaola for $2 billion, the two companies said today, and will integrate it into Tmall, creating the largest cross-border e-commerce platform in China. The announcement follows weeks of media reports about a potential deal, which was said to have stalled in the middle of August after the companies reportedly disagreed
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Nigerian fintech firm Interswitch has been circulating in business news around a possible IPO on the London Stock Exchange. Last month Bloomberg News ran a story—based on unnamed sources—reporting the financial services firm had hired investment banks to go public on the LSE later in 2019. The piece spurred additional aggregated press. That Interswitch—which provides
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Residently, the U.K.-based ‘proptech’ startup that is building a rental platform to improve the rental experience, has picked up £7 million in seed funding. Backing comes from Felix Capital, LocalGlobe, and A/O PropTech, along with a number of the startup’s existing angel investors. The new funding will be used to grow the startup’s engineering and
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The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here. 1. Peloton files publicly for IPO Peloton previously filed a confidential S-1, but now its IPO documents have been revealed publicly, showing
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Peloton, the well-funded maker of high-tech bikes and treadmills, has revealed documents for its upcoming initial public offering. The business previously submitted a confidential draft submission of its S-1 statement to the U.S. Securities and Exchange Commission in June. The company, which plans to raise $500 million in what could be a placeholder amount, will
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WeWork, now known as The We Company, announced this morning the acquisition of a rival co-working business, Spacious. The three-year-old, New York-based startup turns restaurants that sit empty during the day into co-working spaces, and is one of several niche co-working startups — like Convene, Knotel, Industrious, The Yard, The Wing, and Alley, for example. Spacious
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Raisin, the well-capitalised fintech startup that offers a pan-European marketplace for savings and investment products, has acquired Fairr, a German startup disrupting the pensions industry. Terms remain undisclosed, although I understand the price was in the “double-digit Euro millions” range. The majority of the deal was cash, although some Fairr investors exited with a mixture
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Boll & Branch, which sells sustainably-sourced sheets, pillows, mattresses and towels, is announcing that it has raised $100 million in a strategic investment from L Catterton’s Flagship Buyout Fund. This looks like a big change from the company’s previous approach to  funding. It was self-funded for its first two years (resulting CEO Scott Tannen described
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Megvii Technology, the Beijing-based artificial intelligence startup known in particular for its facial recognition brand Face++, has filed for a public listing on the Hong Kong stock exchange. Its prospectus did not disclose share pricing or when the IPO will take place, but Reuters reports that the company plans to raise between $500 million and
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The CareVoice, a Shanghai-based health insurance software startup with ambitions to expand throughout Asia, announced today that it has raised about $10 million in Series A funding. The investment was led by LUN Partners Group and an undisclosed global investment manager that specializes in financial services, with participation from DNA Capital and returning investors SOSV
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