There’s brand-new management at struggling startup Magic Leap, Uber launches grocery delivery and Palantir files to go public. Here’s your Daily Crunch for July 7, 2020.
The big story: Magic Leap has a new CEO
Can Peggy Johnson, the previous vice president of organisation development at Microsoft, turn things around for Magic Leap? The augmented/mixed reality company laid off most of its staff in April, and while it managed to raise another $375 million to keep going, that fundraise suggested the departure of founder and CEO Rony Abovitz.
Johnson will officially take control of on August 1. She’s been at Microsoft because 2014, where she was associated with the $262 billion acquisition of LinkedIn. Prior to that, she spent 24 years at Qualcomm.
” Magic Leap’s technological foundation is indisputable, and there is no question that has the possible to shape the future of XR and computing,” Johnson said in a declaration.
The tech giants
Alphabet’s Loon releases its balloon-powered Kenyan web service– Loon is creating high-altitude balloons that are expected to offer cell service and internet access in locations where mountainous surface makes it challenging to install ground infrastructure.
Uber grocery shipment launches in Latin America and Canada, United States to follow later this month– Uber is beginning grocery shipment in 19 cities, with plans to release in Miami and Dallas later on this month.
Amazon Prime Video lastly launches user profiles to all consumers worldwide– With user profiles, Prime Video audiences will have the ability to manage their own watchlists and track their own watching development, without getting it all mixed up with other viewers on the exact same account.
Start-ups, financing and venture capital
Deceptive information startup Palantir has in complete confidence declared an IPO– Aside from the truth that it has filed confidentially, Palantir (which is known for its work with the U.S. federal government and intelligence neighborhood) did not provide any information about its offering.
TikTok faces restriction in the US; takes out of Hong Kong– Secretary of State Mike Pompeo informed Fox News that the U.S. government is “definitely looking” at prohibiting the popular video app.
Facebook-backed Unacademy acquires PrepLadder for $50 million– Unacademy is one of the leading edtech companies in India, while PrepLadder says it has more than 80,000 subscribers.
Guidance and analysis from Additional Crunch
8 Black financiers discuss the intersection of race, tech and financing– We surveyed eight Black VCs about their financial investment technique and their technique to variety.
Email is broken and Hey’s Jason Fried is here to repair it– An extensive interview with the developer of the popular brand-new e-mail app.
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Everything else
Kerry Washington is concerning Interrupt 2020– The “Scandal” star has likewise bought The Wing, Neighborhood and Byte. And she’s pertaining to Interfere with!
Dear Sophie: What does the brand-new online classes guideline mean for F-1 trainees?– International students have been permitted to stay in the U.S. while taking online courses during the COVID-19 pandemic, however ICE says that will end this fall. Immigration attorney Sophie Alcorn discusses what this means for a startup whose co-founder is a student with an F-1 visa.
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