Microsoft Backs Cruise - Daily Crunch
Self-driving car firm Cruise secures $2 billion in new investment, Netflix continues its expansion, and WhatsApp encounters further scrutiny regarding user privacy. This is your Daily Crunch for January 19, 2021.
Key development: Microsoft invests in Cruise
Cruise revealed today that it has received $2 billion in new funding, resulting in a company valuation of $30 billion, with Microsoft becoming a new investor. (Existing investors GM and Honda also contributed to this round.)
This investment includes a long-term strategic collaboration between the two organizations, with Cruise utilizing Microsoft’s Azure cloud platform to power its upcoming autonomous vehicle ride-hailing service. Furthermore, Microsoft will serve as the primary cloud provider for GM as part of this agreement.
“By leveraging the capabilities of Azure, we will assist Cruise and GM in scaling their operations and bringing self-driving transportation to a wider audience,” stated Microsoft CEO Satya Nadella.
Major technology companies
Netflix stock increases as it surpasses 200 million paid subscribers — Netflix concluded a year of substantial growth in streaming services by gaining 8.5 million new paying subscribers during the final quarter of the year.
India requests WhatsApp to retract its new privacy policy due to ‘serious concerns’ — India’s IT ministry expressed significant concerns about the implications of the app’s upcoming data-sharing policy update for the choices and independence of Indian citizens.
Apple introduces Apple Podcasts Spotlight, a new editorial series to showcase noteworthy creators — Apple’s editorial team will select and feature different podcast creators each month.
Startups, financing, and venture capital
Rivian obtains $2.65B as it progresses towards production of its electric truck — Rivian is currently valued at $27.6 billion.
PPRO secures $180M at a valuation exceeding $1B to unify the complex landscape of payments — The London-based startup has developed a platform to simplify localized payments for marketplaces, payment processors, and other e-commerce businesses.
Google invests in India’s Dunzo with a $40M funding round — Last year, Google announced a $10 billion fund dedicated to investments in the world’s second-largest internet market.
Insights and analysis from Extra Crunch
In 2020, venture capitalists invested $428M into US-based startups daily — This data is based on information provided by PitchBook and the National Venture Capital Association.
Six investors discuss 2021 trends and opportunities in mobile gaming — “We are concerned about Apple’s potential to significantly impact or even hinder a game’s growth,” commented Bessemer’s Ethan Kurzweil and Sakib Dadi.
Bustle CEO Bryan Goldberg outlines his strategy for taking the company public — Bustle may pursue an initial public offering through a SPAC (Special Purpose Acquisition Company).
(Extra Crunch is our subscription service, designed to provide accessible information about startups. You can register here.)
Other news
Europe is developing a unified framework for ‘vaccine passports’ — A standardized approach for mutually recognizing vaccination records is considered “essential,” according to the European Commission.
Paramount+, the successor to CBS All Access, will launch on March 4 in the US, Canada, and Latin America — The company has been announcing plans for the rebranded service since last year.
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