Scarlett Johansson Sues Disney Over Black Widow Release - Daily Crunch

Daily Crunch: July 29, 2021

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Greetings, and welcome to today’s Daily Crunch for July 29, 2021. The day has been exceptionally active, marked by both initial public offerings and earnings reports.

Key Developments

Notably, the founder of Nikola has been indicted on three separate counts of fraud. This development adds to the already bustling news cycle.

The current period is characterized by considerable activity within the technology sector. A surge in IPOs, coupled with the release of quarterly earnings reports, is driving much of the momentum.

Let's delve into the details of these and other important happenings. — Alex

Further Insights

• IPO Activity: The market has witnessed a notable increase in companies going public.
• Earnings Season: Numerous tech firms have recently announced their financial performance for the quarter.
• Nikola Fraud Case: Allegations of fraudulent activity against the company’s founder have led to formal charges.

These events collectively paint a picture of a dynamic and rapidly evolving tech landscape. Staying informed about these developments is crucial for industry professionals and enthusiasts alike.

TechCrunch's Notable News (Featuring Scarlett Johansson)

This report highlights key developments in the tech and business world, including legal issues, potential investments, and emerging market trends. We'll cover updates on Nikola, Microsoft, the Latin American startup scene, and a significant dispute involving Scarlett Johansson and Disney.

Nikola Founder Faces Fraud Allegations

Trevor Milton, the founder of Nikola, has been indicted on three counts of fraud. The charges, brought forth by the U.S. attorney’s office in Manhattan, allege a scheme to mislead investors. This development was widely anticipated given prior scrutiny of the company.

The indictment claims Milton intentionally deceived retail investors. This news presents a challenge for Special Purpose Acquisition Companies (SPACs) generally.

Microsoft Considering Investment in OYO

Microsoft is reportedly exploring a potential investment in OYO, an India-based hotel startup previously funded by SoftBank’s Vision Fund. The reason behind this possible investment remains unclear.

Sources suggest a potential cloud computing agreement may be a factor in Microsoft’s interest. Currently, both companies are declining to comment on the matter.

Latin American Startup Ecosystem Flourishes

The Latin American startup market is experiencing substantial growth and recognition. Founders in the region are attracting increased investment, both from local and international sources.

This positive trend is fueled by growing digital adoption and strengthening regional economies. The current environment is particularly favorable for building businesses in Latin America.

Scarlett Johansson Sues Disney Over ‘Black Widow’ Release

Scarlett Johansson has filed a lawsuit against Disney concerning the release of “Black Widow.” The actress contends that Disney violated their contractual agreement by simultaneously releasing the film in theaters and on the Disney+ streaming platform.

Johansson’s legal team argues that Disney is using the COVID-19 pandemic as justification, despite the ongoing challenges posed by the delta variant. Many viewers, however, may still prefer to watch blockbuster films from the comfort of their homes.

Startups and Venture Capital Funding

The decentralized application (dApp) ecosystem is experiencing growth, and Tenderly is positioned to facilitate further development. Having recently secured $15.3 million in funding, the company focuses on providing a developer platform specifically for Ethereum developers.

This platform is designed to aid in the monitoring and rigorous testing of smart contracts, which are fundamental to the operation of dApps.

Continued Investment in Online Grocery

The online grocery sector continues to attract significant capital investment. Merqueo, an on-demand grocery service operating throughout Latin America, has just completed a $50 million Series C funding round.

This influx of capital reflects the ongoing interest in both traditional grocery delivery services and the emerging "instant" grocery delivery models.

Latin American Real Estate Tech Gains Momentum

La Haus, a Colombian startup, has secured a substantial $100 million in funding, comprised of $50 million in equity and $50 million in debt.

The company operates an online real estate marketplace and has demonstrated impressive growth, with transaction volume on its Mexico portal increasing nearly tenfold between the second quarters of 2020 and 2021.

Expanding Access to Mental Healthcare

Talkiatry is working to broaden access to psychiatric services through insurance coverage. The startup recently announced a $20 million Series A funding round, led by Left Lane Capital.

By partnering with numerous insurance providers, Talkiatry aims to make mental healthcare more affordable and accessible to a wider range of individuals.

Simplifying the Divorce Process

Hello Divorce is addressing a traditionally complex and costly process with a streamlined approach. The company has raised $2 million in funding to offer a more accessible and affordable divorce solution.

Recognizing the widespread need for such services, Hello Divorce aims to tap into a significant total addressable market (TAM).

Connecting Students with Freelance Opportunities

Pangea, a startup based in Providence, Rhode Island, has secured a seed round of $2 million. The company’s marketplace connects college students with businesses seeking freelance talent.

With growing gross merchandise volume (GMV), Pangea is well-positioned for continued expansion throughout the remainder of the year.

Odoo Achieves Unicorn Status

Odoo, an open-source business management software provider, has sold $215 million of its stock and is now valued at over €2 billion. This milestone marks Odoo as the first unicorn to emerge from Wallonia, a region within Belgium.

The company employs a freemium model, offering core software functionalities at no cost while charging for premium features.

CultureAmp Focuses on Employee Success

Employee-success startup CultureAmp has raised $100 million, bringing its valuation to $150 million. The company’s platform enables organizations to gather feedback from their employees.

CultureAmp provides management analytics, including turnover prediction and team goal tracking, to help companies improve employee engagement and performance.

Product Review

For those seeking a different type of update, a review of Nothing’s new earpods is now available.

The Rise of Livestream E-commerce: A Crucial Channel for Businesses

Current projections indicate that livestream viewers in China will surpass $60 billion in expenditures this year, dedicated to interactive digital shopping experiences.

These platforms allow for real-time engagement with key opinion leaders as they promote a diverse range of products, spanning from beauty items to culinary offerings.

Social media personalities leverage platforms like Taobao and TikTok to showcase goods and directly address audience inquiries during live broadcasts.

During Taobao’s 2020 Single’s Day Global Shopping Festival, livestreaming generated $6 billion in sales, representing a doubling of revenue compared to the previous year.

Recognizing this growing momentum, Western startups are actively entering the market, with companies such as Whatnot and PopShop.Live securing funding to enhance their operational capabilities.

Alanna Gregory, Afterpay’s senior global director, anticipates four significant developments in this space:

• The development of robust networks.
• The proliferation of Software-as-a-Service (SaaS) streaming solutions.
• Tools designed for host discovery and effective outreach.
• The emergence of host marketplaces and specialized agencies.

Gregory posits that SaaS streaming tools will prove to be the most valuable asset for brands seeking to capitalize on the evolving livestream commerce landscape, as detailed in an Extra Crunch guest article.

She believes these changes will be profoundly impactful for the industry.

(Extra Crunch is a membership program designed to empower founders and startup teams. Registration is available here.)

Big Tech Inc.

Having recently covered startups extensively, a concise overview of developments within Big Tech is now in order.

Amazon FireTV Cube and Zoom Integration

Amazon’s FireTV Cube has been updated to include support for Zoom. Given the widespread adoption of video conferencing, this integration is both logical and beneficial.

The expansion of Zoom compatibility across various platforms is a positive trend, and Amazon is actively contributing to this increased connectivity.

Facebook and Ray-Ban: Smart Glasses Collaboration

Facebook is developing smart glasses in partnership with Ray-Ban. Reactions to this announcement will likely be influenced by individual perceptions of Facebook.

As a previous user of Google Glass, a period of observation before forming a definitive opinion seems prudent.

PayPal’s Super App Initiative

PayPal is preparing to launch a “super app” that will incorporate messaging functionality. The desirability of such an application remains open to debate.

However, “super apps” – mobile applications offering a comprehensive suite of services – are gaining prominence globally, suggesting potential for adoption within the U.S. market.

These all-encompassing applications are becoming increasingly popular internationally, prompting PayPal to explore a similar model.

TechCrunch Experts: Growth Marketing

Startup founders are being contacted to share insights into their preferred sources for current growth marketing strategies.

Participation in a survey to gather this information is available through this link.

A sample testimonial from those surveyed is presented below.

Marketer: Scott Graham

Recommended by: Heather Larrabee, CMO, FORM

Testimonial: “Following a referral, his initial assessment greatly impressed us.

Graham is an exceptional growth advisor, demonstrating proficiency in both strategic planning and practical implementation.

He embodies servant leadership and approaches challenges as a systems thinker.

His integration with the team is seamless, characterized by empathy and genuine curiosity, functioning as a dedicated internal member.

He possesses extensive, state-of-the-art knowledge and maintains a network of valuable partners and resources.

He collaborates with top-tier professionals, yet consistently prioritizes dedication and commitment, working tirelessly to achieve optimal results.

A remarkable skill of his is the ability to simplify intricate ideas, making them understandable for diverse audiences.

He has proven to be a transformative force for our company, and for numerous others.”