PayPal Acquires Curv: Daily Crunch

Tech News Highlights: March 8, 2021

Significant events unfolded in the tech world today, including PayPal’s acquisition of a cryptocurrency firm, Apple’s decision to cease iMac Pro sales, and McAfee’s divestment of its enterprise division. This summarizes the key developments in today’s Daily Crunch.

Key Acquisitions and Business Moves

PayPal expands into crypto with Curv acquisition

The acquisition of Curv is set to bolster PayPal’s capabilities within the cryptocurrency sector. Curv specializes in providing secure digital asset storage and wallet access solutions for exchanges, brokers, and over-the-counter trading platforms.

PayPal already facilitates the purchase and sale of cryptocurrencies and intends to introduce further crypto-focused services both internationally and through its Venmo platform. Initial reports suggested a deal value between $200 and $300 million, though sources indicate the final price was under $200 million.

Apple phases out iMac Pro

Apple has announced the discontinuation of the iMac Pro, with sales ceasing as existing inventory is depleted.

McAfee refocuses on consumer market

McAfee has sold its enterprise business to Symphony Technology Group for $4 billion. Peter Leav, McAfee’s President and CEO, stated that this move allows the company to concentrate its efforts on the consumer security market.

Initiatives and Funding

Google supports women and girls in tech

Google is allocating $25 million in grants to initiatives aimed at empowering women and girls in technology. This funding, part of Google.org’s new Impact Challenge, seeks to address systemic inequalities and barriers.

Starling Bank secures substantial funding

UK-based challenger bank Starling has raised $376 million, resulting in a valuation of $1.9 billion. The bank, which competes with traditional institutions and other fintech companies like Monzo and Revolut, reports current profitability.

Cosi receives funding for rental expansion

Cosi has secured €20 million to support its “full-stack” approach to short-term rentals. The company leases properties long-term and then manages the furnishing and interior design directly.

Planted expands plant-based meat alternatives

Swiss company Planted has raised $18 million in a Series A funding round to facilitate expansion and product diversification. The company is introducing new products, including kebabs and pulled-style meat alternatives, with steak-like options planned for the future.

Analysis and Events

InMotion Ventures prepares Jaguar for sustainability

A review of InMotion Ventures, the investment and incubation arm of Jaguar Land Rover, highlights its focus on electric charging and supply chain management for a sustainable future.

Olo IPO and Toast’s potential offering

Olo, a fintech startup providing order processing software to restaurants, has announced its initial IPO price range, potentially valuing the company at over $3 billion. This precedes a potential IPO from Toast.

Voice assistants and podcast discovery

The role of white-label voice assistants in enhancing podcast discovery is explored, given the increasing volume of available podcast content.

TechCrunch Early Stage event announced

The agenda for the TC Early Stage – Operations & Fundraising event, taking place on April 1 and 2, has been released.

Insights from DEI leaders

Discussions with Uber’s Chief Diversity Officer Bo Young Lee and Netflix’s VP of Inclusion Strategy for Product Wade Davis shed light on ongoing diversity, equity, and inclusion efforts.

The Daily Crunch provides a concise overview of the most important stories from TechCrunch. Subscribe here to receive daily updates delivered to your inbox around 3pm Pacific time.