AWS Acquires Wickr: Enters Encrypted Messaging Market - Daily Crunch

Daily Crunch: June 25, 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.

Greetings, and welcome to the Daily Crunch for June 25, 2021. Today’s edition features a comprehensive collection of startup news alongside extensive coverage of Amazon.

TechCrunch Early Stage 2021

Please note that only two weeks remain until our TechCrunch Early Stage 2021: Marketing & Fundraising event. Preparations are underway for what promises to be a highly valuable and engaging experience.

We encourage you to explore the event details and ensure you are fully prepared to participate. — Alex

TechCrunch's Leading Three Stories

Here's a rundown of the top three tech news items from TechCrunch today, covering acquisitions, space travel, and IPO valuations.

Amazon Acquires Wickr

Amazon has completed the purchase of Wickr, an end-to-end encrypted messaging application. This move may seem unusual for an e-commerce and cloud computing giant, but it reflects the broader trend of tech companies expanding into diverse areas.

Amazon Web Services (AWS) plans to integrate Wickr's services directly into its cloud offerings, maintaining Wickr’s current functionality for existing and future AWS clients. This acquisition comes alongside scrutiny of both Amazon and Google regarding the prevalence of fraudulent reviews within the United Kingdom.

Virgin Galactic Receives Commercial Flight Approval

Virgin Galactic has received official authorization from the U.S. government to commence commercial spaceflights. Following this announcement, the company’s stock price experienced a significant surge, increasing by almost 39% during the trading day.

This regulatory clearance represents a pivotal moment for Virgin Galactic, positively impacting both its operational capabilities and overall market valuation.

Analyzing Didi's IPO Pricing

TechCrunch has recently analyzed the initial public offering (IPO) price range set by Didi, the prominent Chinese ride-hailing company. The valuation appears surprisingly low when contrasted with that of its competitor, Uber.

Questions are being raised regarding the factors contributing to this perceived undervaluation, prompting further investigation into Didi’s financial positioning and market expectations.

Startups and Venture Capital Updates

TechCrunch recently published a comprehensive overview of the startup ecosystem, offering insights beyond typical funding announcements. Several key developments deserve attention.

Advances in Deep Science

Beyond the visibility of startups and venture capital, significant scientific research underpins the next wave of technological innovation.

• Deep Science Developments: Devin Coldewey compiled a digest of recent scientific breakthroughs.

This includes advancements in predicting liquid dynamics from static images and the development of artificial intelligence systems capable of simulating confidence levels.

The Shifting Landscape of Early-Stage Funding

For those tracking the dynamics of early-stage startup funding, TechCrunch provided detailed analyses this week.

• U.S. Early-Stage Venture Capital: A report examined the current state of the early-stage venture capital market in the U.S.
• Latin American Funding Trends: Another analysis focused specifically on investment activity within Latin America.

Further coverage regarding European markets is anticipated next week.

In addition to these broader trends, numerous startups secured new funding rounds. Here are a few notable examples:

Recent Startup Funding Highlights

• Mercuryo Secures $7.5M for Cross-Border Payments: The potential of blockchain technology to streamline international money transfers has long been recognized.

Traditional banking systems often impose substantial fees and inefficiencies. Mercuryo is demonstrating a viable solution, having already surpassed $50 million in annual recurring revenue (ARR).

• Edge Delta Raises $15M to Compete in Data Analysis: This Series A funding positions Edge Delta as a direct competitor to established data monitoring providers like Splunk and Datadog.

The underlying technology is complex, but Frederic Lardinois provided a clear explanation of the company’s approach.

• Fintual Obtains $15M for Retail Investing in Latin America: The surge in retail investing witnessed in the United States is expanding globally.

Fintual aims to capitalize on this trend within the Latin American market. The Chilean startup’s Series A funding will support its efforts to navigate regulatory challenges and compete with existing financial institutions.

Innovative Musculoskeletal Startups Target the Personalized Healthcare Sector

Over 50 million individuals in the United States experience chronic pain and musculoskeletal (MSK) conditions, driving a surge of startups focused on delivering novel patient solutions. These emerging companies aim to move beyond traditional, standardized treatments, as detailed by Natasha Mascarenhas.

Gaining traction in this market presents significant challenges for new entrants. Beyond navigating regulatory requirements concerning product presentation and promotion, these startups face competition from established pharmaceutical giants while simultaneously seeking collaborations with health insurance providers.

Mascarenhas provides an overview of three companies – Clear, Hinge Health, and PeerWell – each pursuing a unique strategy within the realm of personalized healthcare.

These companies are attempting to disrupt the conventional approach to MSK care.

Their success will depend on their ability to demonstrate value to both patients and payers.

(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.

Further updates from the Big Tech sphere reveal another significant development, following our earlier coverage of Amazon’s recent announcements. Natasha Lomas reported that LinkedIn, a subsidiary of Microsoft, has pledged to accelerate the removal of unlawful hate speech from its platform within the European Union.

This commitment is formalized through the company’s adherence to a self-regulatory initiative, a voluntary Code of Conduct designed to address this critical issue.

The Evolving Landscape of Internet Regulation

This particular news item is noteworthy as it highlights the evolving nature of internet regulation globally. The story’s presentation would likely differ substantially in other regions, such as the United States.

Indeed, the approach in China, a major internet market, would also present a markedly different character.

To a certain extent, it appears we are witnessing the emergence of three distinct – and progressively diverging – internet ecosystems.

This trend presents a crucial consideration for startups operating in the digital space.

Key takeaway: Understanding these regional differences in internet governance is becoming increasingly important for businesses.

The voluntary Code of Conduct aims to provide a framework for swift action against illegal content, demonstrating a proactive approach to platform responsibility.

LinkedIn’s participation signifies a growing awareness of the need for tailored solutions to address the complexities of online hate speech within specific legal jurisdictions.

This development underscores the increasing pressure on tech companies to actively manage content and comply with evolving regulatory standards.

TechCrunch Seeks Top Growth Marketing Professionals

TechCrunch is currently soliciting recommendations for accomplished growth marketers. Expertise in areas like SEO, social media marketing, and content creation is highly valued.

Growth marketers are encouraged to share a survey with their clients. We aim to gather feedback on positive client experiences and the value provided.

Impact on Editorial Coverage

The data collected from this survey will directly shape TechCrunch’s future editorial focus on growth marketing strategies.

Currently, a guest article by Mark Spera, titled “5 companies doing growth marketing right,” is available on Extra Crunch.

Areas of Expertise Sought

• SEO (Search Engine Optimization)
• Social Media Marketing
• Content Writing
• Overall Growth Strategy

TechCrunch’s initiative seeks to identify and highlight professionals demonstrating success in these crucial marketing disciplines.

Client testimonials will be instrumental in determining which marketers receive recognition and influence editorial direction.