Airbnb is proactively addressing potential security concerns surrounding the upcoming inauguration, Intel has appointed a new chief executive officer, and Affirm has commenced trading publicly. This is your Daily Crunch for January 13, 2021.

Leading the News: Airbnb Cancels Washington D.C. Area Bookings for Inauguration Week

Airbnb announced today that, following requests from various government authorities at the local, state, and federal levels discouraging travel to Washington, D.C., it will be cancelling all reservations in the area during the week of President-elect Joe Biden’s inauguration. This cancellation policy extends to all bookings made through Airbnb’s subsidiary, HotelTonight.

The company previously stated it would deny service to individuals involved in the recent unrest at the U.S. Capitol. This new measure represents a more comprehensive effort to prevent anyone with potential for violence from being accommodated during the inauguration period.

All affected guests will receive a complete refund, while hosts will be fully compensated for the cancelled reservations.

Major Technology Companies

Pat Gelsinger will transition from his role as VMware CEO to become the new CEO of Intel, replacing Bob Swan — Gelsinger is scheduled to assume his position at Intel on February 15.

Affirm experiences a significant increase in value after beginning public trading, despite a strong initial public offering price — Affirm’s successful market entry follows similar positive debuts from DoorDash, C3.ai, and Airbnb.

Apple details new initiatives stemming from its $100 million commitment to racial equity and justice — The company will initially contribute $25 million to the Propel Center, a hub dedicated to innovation and learning for Historically Black Colleges and Universities.

Startups, Funding, and Venture Capital

Rapyd secures $300 million in funding at a $2.5 billion valuation to expand its fintech-as-a-service API — Rapyd currently serves approximately 5,000 businesses.

Flo faces action from the FTC regarding the sharing of user data despite promises of privacy — The FTC has reached an agreement with Flo, a period and fertility tracking application with over 100 million users.

Tradeswell, an e-commerce optimization startup, raises $15.5 million — The primary objective is to enable e-commerce businesses to enhance their overall profit margins.

Insights and Analysis from Extra Crunch

Venture capitalists share their reactions to the collapse of the Visa-Plaid deal — The prevailing opinion can be summarized as, “Congratulations, you are no longer in a position to sell your company for billions of dollars!”

An examination of whether startup valuations will be impacted by increasing antitrust scrutiny — Even preliminary indications are sufficient to generate concerns.

Dear Sophie: An update on the minimum salary requirements for H-1B visa applicants — This installment of “Dear Sophie,” an advice column addressing immigration questions related to the technology sector, provides the latest information.

Other News

Researchers have developed robo-fish capable of autonomous schooling and collaborative search operations — Scientists at Harvard’s Wyss Institute for Biologically Inspired Engineering have created underwater robots shaped like fish that can independently navigate and locate one another.

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