HuffPost now has new ownership, Facebook reports advancements in the intelligence of its AI designed to combat false information, and Affirm has submitted its initial public offering (IPO) documents. This is your Daily Crunch for November 19, 2020.

Key Development: BuzzFeed Acquires HuffPost from Verizon

Verizon Media, the parent organization of TechCrunch, has completed the sale of HuffPost. This transaction is part of a broader agreement that also encompasses an investment in BuzzFeed, a content sharing arrangement, potential collaborative advertising efforts, and further initiatives.

Notably, BuzzFeed’s co-founder and current CEO, Jonah Peretti, was originally a founder of The Huffington Post back in 2005. The acquisition occurs almost ten years after AOL purchased HuffPost for $315 million.

Peretti stated, “I have strong recollections of developing HuffPost into a significant news source during its formative years, but BuzzFeed is making this purchase because we are confident in the future of HuffPost and its capacity to continue shaping the media environment for many years to come.”

Major Tech Companies

Facebook outlines improvements in its artificial intelligence capabilities for identifying misinformation and harmful speech — Facebook’s efforts to address misinformation are ongoing, but the company remains committed to the challenge.

Instagram updates its mobile messaging application, Threads — The updated Threads app features improved navigation, a Status section, and the ability to share photos and videos directly to your Instagram Story.

Google intends to implement end-to-end encryption for Android Messages — Google will begin with one-on-one conversations, with the possibility of extending this feature to group chats in the future.

Startups, Funding, and Venture Capital

SellerX secures $118M in funding to acquire and expand Amazon marketplace businesses — Remarkably, this represents a $118 million seed funding round.

Lime is planning to introduce additional transportation options beyond bikes and scooters in 2021 — Lime CEO Wayne Ting indicated that a “third mode” of transportation is anticipated to launch in the first quarter of the coming year.

Near integrates Teemo to broaden its data operations into Europe — Teemo’s founder and CEO, Benoit Grouchko, will assume the role of Near’s chief privacy officer.

Insights and Analysis from Extra Crunch

A detailed examination of Affirm’s IPO filing: Analyzing its financial performance, profitability, and revenue sources — Is Affirm benefiting from a temporary surge in business due to the pandemic, or are its long-term prospects more stable?

An exploration of the potential instability of the internet advertising market — A discussion with Tim Hwang regarding his new book, “Subprime Attention Crisis.”

Can a new game and a $100M investment revitalize PUBG’s presence in India? — PUBG Corporation, based in South Korea, announced its plans to re-enter India, its largest user base.

(Extra Crunch is our subscription service, dedicated to providing accessible information about startups. You can register here.)

Other News

The potential impact of the Biden administration on the technology sector — While President-elect Joe Biden previously served in an administration that favored the tech industry, that period of goodwill (interrupted by the preceding four years) appears to be concluding.

‘Wonder Woman 1984’ will be available on HBO Max (and select US cinemas) on December 25 — The film will premiere in international theaters on December 16, followed by its release in U.S. theaters and on HBO Max on December 25.

Fintech company Affirm relies heavily on a single source — The latest episode of Equity provides further analysis of Affirm’s financial situation.

The Daily Crunch is TechCrunch’s compilation of its most significant and noteworthy stories. To receive this summary in your inbox daily around 3pm Pacific Time, you can subscribe here.