Coinbase IPO: Daily Crunch

Tech News Highlights: April 14, 2021

Significant events unfolded in the tech and business worlds today, including Coinbase’s highly anticipated public offering, Dell’s strategic move regarding VMware, and Ford’s advancements in autonomous driving technology. This summarizes the key developments.

Coinbase Public Listing

Coinbase, a leading cryptocurrency exchange, commenced trading on the public market today through a direct listing. Shares initially opened at $381, peaking near $430 before concluding the day at $328.28.

This resulted in a substantial market capitalization of $85.8 billion for the company. The listing represents a landmark achievement for the cryptocurrency sector, coinciding with increases in the value of various cryptocurrencies.

Tech Industry Updates

Dell is proceeding with the spin-off of VMware, a transaction projected to yield over $9 billion for Dell. Dell initially acquired VMware through the $58 billion acquisition of EMC in 2015.

Google’s FeedBurner is transitioning to a new infrastructure, but this update includes the discontinuation of its email subscription service. FeedBurner has remained in a state of limited development since its acquisition by Google in 2007.

Instagram is currently testing a feature allowing users to control the visibility of ‘Likes’ on their posts. Facebook is also conducting tests related to following functionality.

Startup Funding and Venture Capital

Astranis secured $250 million in funding, achieving a valuation of $1.4 billion. The company specializes in developing smaller, more affordable geostationary communications satellites.

Pickle, an MIT startup, raised $5.75 million for its robotic package-picking system. The robot is named Dill.

Outschool has reached unicorn status, with its latest funding round valuing the company at $1.3 billion. This represents a significant increase from its previous valuation of approximately $320 million less than a year ago.

Expert Insights

Extra Crunch provides valuable guidance on how to effectively pivot a startup, conserve cash, and maintain trust with investors and customers. Olive CEO Sean Lane shares insights from a challenging experience.

Alexa von Tobel offers advice to founders on managing their personal finances, emphasizing debt avoidance, credit building, and wealth accumulation through investments.

Analysis of the first-quarter venture capital results in the US reveals a near doubling of funding compared to the same period in 2020, according to PitchBook data.

Additional News

Ford is challenging Tesla and GM with its new hands-free driving system. This feature will be initially available on the 2021 F-150 pickup truck and select 2021 Mustang Mach-E models via a software update later this year.

Kroger has launched its first Ocado-powered fulfillment center in Ohio. This facility, referred to as a ‘shed’ by Ocado, utilizes a network of 1,000 robots alongside 400 human employees.

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