Robinhood secures additional funding amidst market activity, Coinbase prepares for a public listing, and Johnson & Johnson releases updated vaccine trial results. This is your Daily Crunch for January 29, 2021.

Key development: Robinhood obtains $1 billion in funding

Recent news coverage has heavily featured Robinhood and developments in the stock market, and this trend continues to be prominent in headlines.

The latest reports indicate that, following the utilization of its credit lines, Robinhood has received $1 billion in new investment from current stakeholders. The company appears to have required these funds to satisfy regulatory requirements and other obligations related to user trading operations.

Concurrently, the SEC has released a statement that, while not explicitly naming Robinhood or GameStop, emphasizes that “significant fluctuations in stock prices carry the risk of substantial and rapid investor losses” which could potentially “erode confidence in the market.”

Major technology companies

Individuals can now submit feedback to Facebook’s Oversight Board regarding the decision to suspend Donald Trump — The board explains that the purpose of this public comment period is to integrate “varied viewpoints” from external parties who may offer research relevant to their deliberations.

The UK competition authority is reviewing Uber’s acquisition of Autocab — Autocab provides software solutions for booking and dispatching taxis and private hire vehicles.

Startups, investment, and venture capital

Coinbase will become a publicly traded company through a direct listing — The company has previously secured over $540 million in funding while operating privately.

Firehawk Aerospace expands its seed funding round to $2.5M, including $1.2M from Harlow Capital — Firehawk has created an innovative hybrid rocket fuel that improves rocket launch safety, reduces costs, and streamlines transportation through additive manufacturing techniques.

SoftBank allocates $100M to startups based in Miami — This fund will support companies currently located in Miami or those planning to relocate there.

Insights and analysis from Extra Crunch

Customer advisory boards can be a valuable resource for identifying startup brand advocates — Several factors should be considered to ensure the success of your customer advisory board.

Increased venture capital investment in Africa drives bets on fintech and clean tech in 2020 — The Exchange examines a report from Briter Bridges, a research organization specializing in Africa’s private capital market.

The traditional subscription pricing model is declining: Forward-thinking SaaS businesses are adopting usage-based pricing — This assessment comes from Kyle Poyar, VP of Growth at OpenView.

(Extra Crunch is our membership program designed to help founders and startup teams succeed. You can register here.)

Other news

Trial data indicates Johnson & Johnson’s COVID-19 vaccine is 85% effective against severe illness and 66% effective overall — The Johnson & Johnson vaccine requires only a single dose, unlike other vaccines that necessitate a two-dose regimen.

Simulations using ‘Frozen’ CG snow and crash-test cadavers provide clues regarding a 60-year-old Russian mystery involving deaths — New research employs simulation methods from various periods to advance the most plausible explanation for this tragic event.

Attending both TC Early Stage 2021 events offers substantial advantages — TechCrunch Early Stage is a two-day virtual bootcamp providing early-stage founders with access to leading industry experts.

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