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Identity-as-a-service platform Okta says it ‘contained’ network breach in January – TechCrunch

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Hello and welcome to the Daily Crunch on Tuesday March 22nd, 2022! We are happy to announce that we are bringing in some other people to help you create this newsletter. Christina Hall for example, helped write the Big Tech and Startups sections today. Haje Jan Kamps will also rotate this week. Follow them!

before we start We’ll be talking about air mobility and urban planning at our upcoming Sessions: Mobility event, so if this is your bag, click the link. Now to work! – Alex

The TechCrunch Top 3

  • Octa leaks, stock slumps: Okta, a former startup-turned-public company, today confirmed a breach in January “after hackers posted overnight screenshots that appeared to show access to the company’s internal systems,” reports TechCrunch. The company’s stock initially fell sharply in the wake of the announcement, but recovered over the course of the day.
  • Forge shows that the IPO market is not dead: Forge helps investors in private companies sell stakes in startups to others. So it’s a bit ironic that the company went public today in a SPAC combination. But the offering was a smashing success, as the newly listed company is up around 60% as of the writing of this newsletter. This is among the best debuts we’ve seen in a while — and could help other private companies seek their own exit.
  • Muni empowers Latino women to make money while shopping: Muni is a game to make online commerce more widespread wherever ordering goods digitally is not the norm. By working with community leaders who can earn a wage for their work, users can place group orders that are then delivered together and distributed from there on a last-mile basis. The company just closed a $20 million Series A led by Lightspeed Venture Partners.

Startups and VCs

Let’s start with a smile. Have you been on Zoom too much lately? Do you want to be a cat, deep in your soul? If so, you might want to Check out this neat tool from Zoom turn you into an animal. The fun little tool might be aimed at kids, but I definitely intend to use it in my next All-Hands. (kudos to Amanda Silberling for helping keep TechCrunch weird.)

Turning to the startup market, we have some unicorn news to get us going. Jeeves, that is not a search engine product, just raised $180 million at a $2.1 billion valuation. The fintech’s round stands out from the rest as it quadruples Jeeves’ valuation in about half a year. And then there’s Capitolis, that raised $110 million at a $1.6 billion valuation. The US and Israeli company works with major financial institutions when it comes to “how they move money”, our own Ingrid Luenden reports.

We’ve been covering more ag companies lately, which we’re sorting into a bucket labeled “Agtech.” So let’s harvest some of our latest headlines from this particular crop, shall we? get up first, a robot that scans crop fields for health indicators and potential problems. It’s also adorable, at least as far as robots go. We also wrote the story of a number of people who, instead of immediately raising a fund, started an agtech publication which they put into a fund. It’s a super interesting yarn.

  • Unicorn Cityblock Health appoints CEO: It’s not often that a $6 billion startup changes CEOs before an IPO. When Cityblock Health promoted co-founder Toyin Ajayi to the senior leadership role, we took notice. The company has raised $900 million to date for its work as a primary healthcare provider with a focus on home and virtual care. Our podcast Found buried in history.
  • Harness moves deeper into open source development tools: with more and more startups As we build with an open-source stance, it’s no great shock that Harness – which is working to build “a more complete modern tooling platform for developers” – Ron Mueller Reports – bought ChaosNative, which creates open source developer tools. According to TechCrunch, this isn’t the company’s first open-source acquisition.
  • Today in good startup names: Eko, which is working to “bring applied AI to the stethoscope space,” has a solid reputation. After all, echocardiograms listen to cardiac echoes, which makes its name, well, apt. The startup’s digital stethoscope tool has yet to receive approval from the U.S. Food and Drug Administration to use its software clinically, but with $30 million in new funding it has the funds to take that effort down the line see, let’s calculate.
  • Rokid shows it’s still around and ready to go global: We hadn’t heard much from Chinese augmented reality company Rokid since 2018, but its new $160 million Series C cash injection proves the company is poised to take on more of the corporate side of the world. Keep an eye out for more information on their smart glasses and headsets for field workers.
  • Firefly Aerospace heading for SPAC?: A recent filing with the U.S. Federal Communications Commission suggests the rocket startup plans to go public through a special purpose vehicle. This could be good news for the company, whose largest shareholder, Ukrainian Max Polyakov, forced to sell his shares about national security concerns.

Be an entrepreneur who leads with transparency

Photo credit: fermatate (opens in a new window) /Getty Images

Starting a tech company isn’t like starting most small businesses: Nobody expects a plumber, for example, to grow 3% a month.

Tech entrepreneurs are under pressure to build a team, ship new products regularly, and generate revenue quickly so they can provide returns to their investors. So it’s not surprising that they sometimes let ethics fall by the wayside.

Entrepreneur and investor Marjorie Radlo-Zandi says that the “fake it till you make it” mentality is a useful motivational tool but not a basis for a sustainable business strategy:

The founder of a company in which I invested secretly kept two books: one with correct historical financial data and another with numbers inflated by more than 10 times. Sales and product performance had fallen short. His solution was to present investors with the bloated financial data.

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

BigTech Inc.

  • Nvidia wants to help control your self-driving car: Nvidia is showing the fruits of its DeepMap acquisition with the new Drive Map feature, which combines survey mapping with crowd-sourced mapping data from vehicles using its platform.
  • Twitter wants the EU to think of the bigger technical picture: After two years of development, Twitter has launched its Open Internet Alliance, a political advocacy lobby group designed to get legislators to look at the internet not through the lens of tech giants, but as a broad ecosystem that doesn’t need such harsh digitization regulations . Kind of ironic because Twitter is one of those tech giants in the US, but it’s all in the name of sparking “open conversation and pushing for regulation that encourages diversity and innovation online,” as TechCrunch has been told.
  • Twitch allows users to challenge account suspensions: The company has updated its appeal and reporting procedures, with one of the bigger changes being a new portal for users to appeal and monitor the progress of an upcoming account suspension. Over the past two years, Twitch has told TechCrunch that it has quadrupled its moderation but also wants to make up for a wrong decision.
  • Microsoft’s AI translations just got better: Microsoft has updated its translation services, aka Z-Code, which means users now have a one-stop shop – you can now translate directly between 10 languages, e.g. B. English to Bulgarian without the need for multiple systems. This isn’t the only place Microsoft’s Z-Code is being used, but it’s the first time the approach has been used for a translation service.
  • Shopify has entered link-in-bio territory: Linkpop is Shopify’s approach to the link-in-bio craze, allowing developers to launch storefronts and sell directly from their Linkpop page, while allowing consumers to shop without leaving the app they’re using. The company’s goal is for Linkpop users to create a Shopify storefront. (Link-in-Bio has gained traction, so much so that Linktree raised $110 million to keep developing new features.)



Identity-as-a-service platform Okta says it ‘contained’ network breach in January – TechCrunch Source link Identity-as-a-service platform Okta says it ‘contained’ network breach in January – TechCrunch

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