T-Mobile Data Breach: 47 Million Customers Affected - Daily Crunch

Daily Crunch: August 18, 2021

A daily digest of TechCrunch's most significant and impactful stories is delivered to inboxes each day at 3 p.m. PDT. You can subscribe to this roundup here.

Welcome Kate Park!

Greetings, and welcome to Daily Crunch for August 18, 2021. We are pleased to announce the arrival of Kate Park to the TechCrunch team.

Kate will be broadening our reporting on the Asian technology landscape, with a particular focus on developments within South Korea. Be sure to connect with her on Twitter and extend a warm welcome.

Today's Focus: Apple, Cryptocurrency, and Startups

The following sections will cover recent news concerning Apple, the cryptocurrency market, and emerging startup ventures.

Key Areas of Discussion

• Apple's ongoing initiatives and potential impacts.
• The current state and future trends of cryptocurrency.
• Updates on innovative startups and their progress.

— Alex

TechCrunch's Leading Three Stories

Here's a rundown of the most significant tech news as reported by TechCrunch.

Apple Faces Scrutiny

Apple is currently navigating a challenging period. The company has reversed course on a debated browser design decision.

Furthermore, its child sexual abuse material (CSAM) detection system is receiving renewed criticism. Concerns center around the potential for hash collisions within the system.

For a detailed explanation of hash collisions and their implications, a report by Zack Whittaker provides comprehensive coverage.

Positive Developments in the Cryptocurrency Space

Following Coinbase's direct listing, the cryptocurrency sector is experiencing a surge in investment. Global venture capitalists are actively funding various crypto exchanges.

Securing funding is generally a positive indicator for any technological field. However, the positive news from the cryptocurrency world extends beyond just venture capital activity.

A deeper exploration of these developments is available on TechCrunch.

T-Mobile Data Breach Confirmed

The potential data breach at T-Mobile, previously mentioned in Daily Crunch, has been confirmed. This incident affects a substantial number of customers – tens of millions, in fact.

As TechCrunch points out, this marks the fifth time T-Mobile has been compromised by a security breach in recent years, raising significant concerns.

Startups and Venture Capital Updates

A recent report from our newest TechCrunch contributor highlights the progress of South Korean secondhand marketplace Danggeun Market, which secured $162 million in funding, resulting in a company valuation of $2.7 billion.

Prior to reviewing the latest funding details, Mayfield investor Navin Chaddha has offered his perspective on the current state of high-risk venture capital investments. His analysis serves as a response to an article published by The Information, and provides valuable insights into this evolving landscape.

Below is a summary of today’s most noteworthy startup news:

• API-Driven Businesses Thrive: The significance of Application Programming Interfaces (APIs) continues to grow, extending beyond startups directly offering API services. Postman, a company facilitating API development for others, has raised $225 million, achieving a $5.6 billion valuation. This allows developers to seamlessly integrate with various technology products. Postman’s competitors include Stoplight and Kong.
• Insect Protein Gains Traction: Innovation in food technology is attracting attention, particularly in the realm of alternative proteins. Recognizing the environmental impact of traditional livestock farming, Beta Hatch has secured $10 million to advance its insect-based protein initiatives. This could signal a shift towards more sustainable food sources.
• KaiPod Focuses on Micro-Schools: The surge in edtech startup activity during 2020 and 2021 included a rise in “pod” or micro-school models. KaiPod, a Boston-based company, is capitalizing on this trend by targeting the homeschool market.
• Fintech Solutions for the Middle Class: While many fintech companies concentrate on underserved communities, One is taking a different approach. The startup is developing financial tools specifically for the middle class, aiming to provide an integrated financial management solution.
• FloodMapp Predicts and Mitigates Flood Risks: FloodMapp, an Australian startup, is revolutionizing flood prediction and emergency management. By employing modern hydrological and analytical techniques, the company helps authorities and citizens prepare for impending floods.
• Stacker Secures Funding for No-Code App Development: Stacker, a platform enabling no-code app development, has received $20 million in Series A funding from a16z. The service allows users to transform spreadsheets into functional applications.
• RaRa Delivery Expands Same-Day Delivery in Indonesia: RaRa Delivery, an Indonesian startup, has raised $3.25 million to expand its same-day delivery services within the country. The funding round was led by Sequoia Capital India’s Surge program and East Ventures.

Building a Health Tech Startup Advisory Board

An advisory board is beneficial for most startups, but it’s particularly crucial within the health technology sector.

Founders aiming to introduce innovation in this field require guidance from mentors possessing expertise in areas like regulatory compliance, capital acquisition, and research and development oversight.

Patrick Frank, co-founder and COO of PatientPartner, recently outlined specific strategies regarding recruitment, sourcing, and equity allocation for advisory board members, drawing from his own professional journey.

Frank emphasizes the importance of utilizing the expertise of these individuals to allow founders to maintain a strategic focus on the company’s overall vision and ensure its scalability and market appeal to both potential customers and investors.

(Access to exclusive insights and resources for founders and startup teams is available through Extra Crunch, our membership program. Registration can be completed here.)

Big Tech Inc.

Twitter is actively encouraging developers to create applications for its live-audio feature, Twitter Spaces. This indicates the platform views Spaces as a long-term component of its offerings.

The integration of Spaces into Twitter’s updated API will enable external developers to expand upon its existing functionality.

This move is considered positive, given the perceived value and potential of Twitter Spaces.

Amazon's Investment in India

Amazon has made a significant investment in the Indian financial technology sector. A $40 million Series C funding round was provided to smallcase, a financial services startup based in Bangalore.

This investment is particularly noteworthy as Amazon is not typically recognized as a leading venture capital investor among major technology companies.

The transaction highlights Amazon’s growing interest in the Indian market and its financial services landscape.

Here's a summary of the key developments:

• Twitter is opening up its Twitter Spaces platform to third-party developers through its API.
• Amazon is investing $40 million in smallcase, an Indian financial services startup.

Both actions demonstrate strategic expansion and investment by these tech giants.

TechCrunch Seeks Top Growth Marketing Professionals

TechCrunch is currently soliciting recommendations for skilled growth marketers.

Expertise in areas like SEO, social media marketing, and content creation is highly valued.

Growth Marketer Survey

Growth marketers are encouraged to share a survey with their clients.

This survey aims to gather feedback on positive client experiences and the reasons behind them.

Insights into Growth Marketing

Further information regarding how these surveys influence TechCrunch’s reporting can be found in an interview conducted by Anna Heim.

The interview features Gus Ferguson and Alyssa Crankshaw, co-founder and partner respectively at Ascendant, discussing their agency’s approach to growth marketing.

Their perspective, detailed in “For British agency Ascendant, growth marketing is much more than a set of tactics,” highlights the comprehensive nature of effective growth strategies.

Community Engagement

An opportunity to connect with Danny Crichton is scheduled for Thursday, August 19th, at 2:00 PM Pacific Daylight Time, or 5:00 PM Eastern Daylight Time.

This will be a live interview conducted via Twitter Spaces, featuring Sukhinder Singh Cassidy, the author of “Choose Possibility: Take Risks and Thrive (Even When You Fail).”

Event Details

The discussion will center around the themes explored in Cassidy’s book, focusing on risk-taking and resilience.

Attendees will have the chance to hear directly from the author and participate in a Q&A session.

• Date: August 19th
• Time: 2:00 PM PDT / 5:00 PM EDT
• Platform: Twitter Spaces
• Guest: Sukhinder Singh Cassidy
• Book: “Choose Possibility: Take Risks and Thrive (Even When You Fail)”

Don't miss this chance to engage with a leading voice in the field of personal and professional development.

About the Author

Sukhinder Singh Cassidy is a recognized expert on innovation and leadership.

Her book, “Choose Possibility,” offers practical strategies for navigating challenges and achieving success.

TechCrunch Disrupt 2021

The annual TechCrunch Disrupt conference is fast approaching, bringing together startup enthusiasts globally. This year's event will once again be hosted in a virtual format.

Mark your calendars for September 21-23 to broaden your knowledge and connections. Attendees will have the opportunity to network with founders and CEOs from prominent companies like Coinbase, Dapper Labs, GitLab, and Canva.

Event Details and Access

Participation in Disrupt 2021 is available for under $100. Alternatively, a complimentary Innovator Pass can be secured.

However, the Innovator Pass is limited to the first 10 registrants utilizing the promo code DAILYCRUNCHFREE. Prompt action is advised, as these passes are allocated on a first-come, first-served basis.

Don't delay, as the Innovator Pass offer is subject to availability and will conclude once all passes have been claimed.