$8.5B Amazon-MGM merger will bring thousands of titles to Prime Video – TechCrunch

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Hello and welcome to the Daily Crunch for Thursday March 17th, 2022! We’ve got an absolute mountain of news to climb today, so we’ll be busy getting to work. A little reminder before we do that The list of speakers for our early stage event is looking more and more stacked. Can’t wait to see all the IRL! – Alex

The TechCrunch Top 3

  • More capital for immediate delivery: After a flurry of rounds in 2021, the venture market for instant delivery companies is still active. Getir, an Indian instant delivery company, just raised a $768 million Series E, taking its valuation to almost $12 billion. Mubadala Investment Company led the round.
  • How a city diversifies its startup market: The US venture market is often viewed as its two main shores. But in the middle of the country, startups are being set up and financed at record speed. And Chicago, one of the most important American metropolises, is supporting more and more underrepresented founders in the seed and angel phase. We have examined how this change takes place.
  • Paradigm supports Ethereum Scaler optimism: The Ethereum blockchain has a lot to offer. You can program it and use it for all sorts of things. But it’s also expensive at times to use as transaction fees jump up and down. So many companies are building technologies to scale up Ethereum. Optimism is one such company, and it just raised a $150 million Series B with a valuation of over $1 billion.

Startups and VCs

  • Reface withdraws from the Russian market: When Russia invaded Ukraine, many companies immediately withdrew their services from the borders. Reface, a Ukrainian app, didn’t do this and instead chose to “use its app as a channel to bypass the Kremlin’s media censorship,” writes TechCrunch. However, that seems to have backfired a bit, and now the company is over it — and is pulling out.
  • Tile builds anti-stalking technology into its platform: Apple and Tile have come up with ways to help users better track their devices. But both companies also managed to create situations where bad guys could misuse their technology to track people. Tile has now updated its technology to counter the situation, as has Apple.
  • Forget Peloton; Hydrow is still rising: You’d think that after Peloton collapsed, investors would be pouring too much money into home exercise equipment. nope Hydrow — the aptly named erging machine for the home — has just raised $55 million. So if you enjoy rowing at home, good news! I’ve done both erging and on-river rowing and am a sucker for both, so I can’t really comment on the quality of the Hydrow itself, but I can confirm that it’s more of a full-body exercise than simple cycling.
  • A new social calendar: Hybridizing calendars and to-do sections with a healthy mix of team focus makes Amie a great idea. Given what part of the world lives in Google Calendar or Outlook, there’s probably still enough TAM out there for Amie to contend with despite stiff startup competition.
  • Today’s corporate contract: Look, I can’t really improve what Ron Mueller wrote here, so let’s just quote the man, yeah? “Upstash, an early-stage startup, is building a serverless data platform for developers of data-intensive applications with a consumption-based pricing model that should help bring prices down,” he reported. Excellent. Upstash just closed $1.9 million from Mango Capital, among others.
  • TikTok 🤝 stories: Some ideas are good simply because consumers love them. Stories or series updates from specific creators that tend to be more ephemeral than regular posts are one such thing. And TikTok continues to work on its Stories product after experimenting with the model.
  • Profishop takes off from Tiger: With 35 million US dollars in new capital, Profishop is building in the logistics sector. In particular, it works on “just in time” B2B deliveries for business and industrial products. It is a German company that is now active in 13 markets. Expect that number to increase now that it has fresh funds.
  • The artist formerly known as Square endorses Kyash: Retail and corporate fintech giant Jack Dorsey, now called Block, has participated in a $41.7 million round of Kyash, a Japanese mobile finance app. It appears this is Block’s “first investment in an Asia-based company,” reports TechCrunch.

Tortoise co-founder Dmitry Shevelenko: “You can’t do too many things at once”

Dmitry Shevelenko, co-founder and CEO of Tortoise

Photo credit: Bryce Durbin

From the outside, a startup making multiple pivots may seem like it lacks direction.

In reality, a course change is usually the wisest bet as it allows founding teams to leverage new technologies and adapt to changing market conditions.

Transportation reporter Rebecca Bellan interviewed Tortoise co-founder Dmitry Shevelenko about his company’s transition “from using a hardware-as-a-service model to a take-rate system that earns him 10% of all sales from his card-enabled bots. ”

Panning is positive, says Shevelenko. “Actually, the most important thing about agility is being able to gracefully admit when you’re wrong or that you’ve learned new information and adapt.”

(TechCrunch+ is our membership program that helps founders and startup teams get ahead. Here you can sign up.)

BigTech Inc.

  • Amazon’s MGM deal closes: So much for the increased antitrust activity blocking big deals. Amazon’s $8.5 billion purchase of movie studio MGM is complete, bringing more media power to the e-commerce and cloud-computing giants. Sure, it might seem a bit strange that AWS also owns a movie studio, but with more and more digital goods ending up on the company’s Prime subscription, maybe the deal makes sense.
  • Maserati plans V-6 electric cars: The electric car boom is apparently reaching all manufacturers, including higher-end sports car types such as Maserati. The Italian automaker plans to launch half a dozen electric cars by 2025, TechCrunch reports.
  • TechCrunch tests new Apple products: If you’ve been hungry for Apple’s new Mac Studio computer, good news. Our review is out. And so do we chatted with Apple executives about the new computer and its partner monitor, the latter of which receives far more mixed reviews than the machine it’s attached to.

And there was more: Meta is Testing ways for brands to have more control over ad placement, Google has released a developer preview update for Android 13and The search company has developed a tool to help companies manage deliveries.

$8.5B Amazon-MGM merger will bring thousands of titles to Prime Video – TechCrunch Source link $8.5B Amazon-MGM merger will bring thousands of titles to Prime Video – TechCrunch

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