DOJ Antitrust Suit Against Google: Daily Crunch
A significant antitrust case has been filed against Google, Amazon is introducing a program to compensate customers for their shopping information, and we have completed a review of the iPhone 12. This is the Daily Crunch for October 20, 2020.
Leading news: DOJ initiates antitrust lawsuit against Google
The lawsuit alleges that Google “illegally maintains monopolies within the general search services, search advertising, and general search text advertising markets across the United States.” Eleven states have joined the action, all represented by Republican attorneys general – Texas, Arkansas, Florida, Georgia, Indiana, Kentucky, Louisiana, Michigan, Missouri, Montana and South Carolina.
Google characterized the U.S. Department of Justice’s case as “seriously flawed” and presented arguments defending its position on a platform-by-platform basis, asserting it does not possess unfair control of the market. The company, for instance, credited its success in search to the quality of its product, rather than to any anti-competitive behaviors.
Financial market investors, however, do not appear to be overly concerned by the lawsuit.
Major technology companies
Amazon is launching a new initiative to financially reward customers for providing data regarding their purchases made outside of Amazon — The Amazon Shopper Panel program requests that participants submit 10 receipts each month for any purchases from retailers other than Amazon.
Snap’s stock value has increased substantially following a surpassing of earnings predictions — The company reported revenue of $679 million, exceeding expectations from Wall Street analysts.
Review: iPhone 12 and iPhone 12 Pro, excellent devices with distinct qualities — Both of these smartphones represent strong value, though competition exists from other manufacturers.
Startups, funding, and venture capital
Perch secures $123.5M in funding to expand its portfolio of direct-to-consumer brands sold on Amazon — Perch acquires existing direct-to-consumer businesses and products already available on Amazon, and then continues their operation and growth.
Gowalla is being revived as an augmented reality-based social application — The startup was a consumer social app that garnered attention from Silicon Valley investors but ultimately failed in its attempt to compete with Foursquare.
Synthetaic obtains $3.5M in funding to develop AI using synthetic data — The company is currently collaborating with Save the Elephants to monitor animal populations, and with the University of Michigan to categorize brain tumors.
Insights and analysis from Extra Crunch
Seven investors share their perspectives on opportunities for augmented reality and VR startups in 2020 — “The timing is still early, but it’s no longer prematurely early.”
As startup activity accelerates in the third quarter, Europe and Asia achieve significant venture capital results — Investment activity outside of North America experienced its strongest quarter in recent years.
The current moment may be ideal for individuals to pursue a career as a full-stack developer — Talos Digital’s Sergio Granada offers his insights on this increasingly popular job role.
(Please remember: Extra Crunch is our subscription-based program designed to make information about startups more accessible. You can register here.)
The Daily Crunch is TechCrunch’s compilation of our most significant and important news stories. To receive this summary in your inbox daily around 3pm Pacific Time, you can subscribe here.
