Recent developments include Visa halting a fintech acquisition due to regulatory concerns, a collaboration between Uber and Moderna, and Checkout.com achieving a $15 billion valuation. This is your Daily Crunch for January 12, 2021.

Key development: Visa terminates Plaid acquisition

The agreement, initially announced over a year ago, had a value of $5.3 billion. However, the Department of Justice initiated legal action in November to prevent the acquisition, asserting that it would “eliminate an emerging competitive force.”

Visa stated in today’s announcement that while a resolution might have been possible, the potential for “lengthy and complicated legal battles” ultimately led to the decision to abandon the deal.

It remains to be determined whether this situation will diminish the enthusiasm of large financial institutions for acquiring fintech companies and highly valued startups.

Major technology companies

Uber and Moderna are working together to improve access to and provide information about the COVID-19 vaccine — This partnership specifically focuses on delivering trustworthy, evidence-based details regarding the safety of the COVID-19 vaccine to Uber app users.

Facebook updates ‘Access Your Information’ tool for clearer data usage explanations — The redesigned tool now presents information in a more visually accessible format, categorizing data usage across eight sections instead of the previous two.

GM introduces BrightDrop, a new EV business unit targeting delivery services — GM has established a new division dedicated to providing commercial clients with a comprehensive range of electric and connected solutions.

Startups, funding, and venture capital

Checkout.com secures $450M in funding, reaching a $15B valuation — Checkout.com aims to become a comprehensive platform for all payment-related needs.

Cockroach Labs raises $160M Series E at a $2B valuation — According to co-founder and CEO Spencer Kimball, the company experienced revenue growth exceeding 100% in 2020 despite the challenges posed by COVID-19.

Weber acquires June, a smart cooking startup — June will maintain its brand identity and continue operations independently.

Insights and analysis from Extra Crunch

Five VCs express optimism about the cannabis industry in 2021 — Despite ongoing obstacles, the outlook for most cannabis businesses is improving.

Evaluating the potential for further growth in the cloud-security market — The initial disruptions of the COVID-19 pandemic have subsided for many businesses, but a significant outcome was the rapid acceleration of digital transformation.

Analyzing SPAC activity in 2021 — A detailed examination of blank-check offerings involving Bakkt and SoFi.

(Extra Crunch is our subscription service, designed to make information about startups more accessible. You can register here.)

Other news

Rollable displays are gaining prominence as the next innovation in mobile technology — At CES, both LG and TCL showcased their versions of rollable displays, offering an alternative form factor for increased screen size.

Nielsen reports ‘The Office’ as the most-watched streaming series in 2020 — Netflix and Disney+ led the rankings in terms of viewership.

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