Financial News

Financial News

Why did file sharing drive so much startup innovation?

Why did file sharing drive so much startup innovation?

One of the great things about editing all of our deep-dive EC-1 startup profiles is that you start to notice patterns across successful companies. While origin stories and trajectories can vary widely, the best companies seem to come from similar places and are conceived around very peculiar themes. To wit, one common theme that came from our recent profiles of Expensify and NS1 is the centrality of file sharing (or, illegal file sharing if you are on that side of the fence) and internet infrastructure in the origin stories of the two companies. That’s peculiar, because the duo honestly couldn’t…
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Zomato raises $562 million from anchor investors ahead of IPO

Zomato raises $562 million from anchor investors ahead of IPO

Indian food delivery startup Zomato said on Tuesday evening that it has raised $562.3 million from its anchor investors ahead of IPO opening on Wednesday. Zomato, which counts Ant Financial  has already secured nearly 45% of the $1.3 billion it plans to raise through the IPO, the 12-year-old Gurgaon-headquartered startup revealed in a filing to local stock exchanges. The public share sale will open on Wednesday and close Friday. Tiger Global, Fidelity, New World, Baillie Gifford, Government of Singapore, Canada Pension Plan, Mirae Asset, T. Rowe Price, and Steadview are among the investors that are backing the startup in the…
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Where is suptech heading?

Where is suptech heading?

Marc Gilman is general counsel and VP of compliance at Theta Lake. He is also an adjunct professor at Fordham University School of Law. More posts by this contributor Recommendations for fintech startups navigating the procurement process The startups creating the future of RegTech and financial services Technology plays a huge role in nearly every aspect of financial services today. As the world moved online, tools and infrastructure to help people manage their money and make payments have burgeoned the world over in the past decade. With much of the finance world now leveraging technology to conduct business, predict trends…
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Discord buys Sentropy, which makes AI moderation software to fight online hate and abuse

Discord buys Sentropy, which makes AI moderation software to fight online hate and abuse

The online chat platform Discord is buying Sentropy, a company that makes AI-powered software to detect and remove online harassment and hate. Discord currently uses a “multilevel” approach to moderation, relying on an in-house human moderation team as well as volunteer mods and admins to create ground rules for individual servers. A Trust and Safety team dedicated to protecting users and shaping content moderation policies comprised 15% of Discord’s workforce as of May 2020. Discord plans to integrate Sentropy’s own products into its existing toolkit and the company will also bring the smaller company’s leadership group aboard. The terms of…
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Panda Express is piloting Beyond Meat orange chicken in select locations

Panda Express is piloting Beyond Meat orange chicken in select locations

Just under a week after Beyond Meat announced that it will be releasing a reworked version of its plant-based Chicken Tenders at restaurants in the U.S., the faux meat company has returned with a potentially sizable restaurant partnership. Starting July 26, select Panda Express restaurants in Southern California and New York City will offer an orange chicken dish using Beyond’s chicken product. It’s a big potential partnership for Beyond, as the Asian American fast food chain currently has 2,200 locations, largely in food courts and other high-traffic spots. It could also be a big step for Panda Express, which has…
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Nas Academy raises $11 million to help creators build their own MasterClass-like courses

Nas Academy raises $11 million to help creators build their own MasterClass-like courses

Investors are buying into a creator-led future, and Nas Academy wants to turn that creator influence into a broad network of “virtual universities.” The Singapore startup is building out a platform for creators to monetize their knowledge, giving them the tools to create their own classes and academies that fans can attend online. The platform is founded and led by Nuseir Yassin, a video blogger and influencer whose Nas Daily social media accounts boast tens of millions of followers across platforms. Nas Academy has closed an $11 million Series A led by Lightspeed Venture Partners with additional backing from Balaji…
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Zero’s FXE offers electric motorcycle fun in a slightly new package

Zero’s FXE offers electric motorcycle fun in a slightly new package

Zero Motorcycles has been around for over a decade and in that time it’s consistently improved its fleet of electric bikes. With the new FXE, the northern California company has taken the thoroughly enjoyable FXS supermoto and transformed it into something a bit more futuristic looking with a new easier-to-parse display. The FXE likely isn’t a great pick for two-wheeled beginners or for folks that want a weekend cruiser, but for the experienced rider who needs a daily commuter that packs agility and power into a fun package, the 100-mile range FXE might be the best way to get to…
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Widespread AV adoption starts with driver assistance systems consumers can trust

Widespread AV adoption starts with driver assistance systems consumers can trust

Tarik Bolat is the CEO and co-founder of WaveSense. In the past year, many of the conversations around autonomous vehicles (AVs) have been dominated by the same question: When will self-driving cars be the norm on public roads? While industry leaders talked a big game on AVs monopolizing our roads back in 2016, today some experts have put widespread Level 4 adoption over a decade away. However, even that timeline only works if automakers overcome significant barriers — both technical and behavioral. The challenge of bringing AVs to consumers will be tougher than anticipated, with a central part of the…
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Amperity raises $100M on a $1B+ valuation to help company’s build better profiles of their customers

Amperity raises $100M on a $1B+ valuation to help company’s build better profiles of their customers

Cookies and other third-party data sources are going the way of the dodo bird for many companies, regulators and platforms, and that’s giving a new emphasis on technology that will help companies better manage their customer data on their own steam. Today, one of the companies building tools for that end is announcing a big round of funding, underscoring its growth. Amperity, which provides a customer data platform for its businesses, has raised $100 million in funding at a valuation of over $1 billion. The startup typically works with large, consumer-focused enterprises along the lines of Starbucks, Wyndham Hotels &…
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Ring’s latest security updates are good, but still opt-in

Ring’s latest security updates are good, but still opt-in

Ring, the video doorbell maker dubbed the “largest civilian surveillance network the U.S. has ever seen,” is rolling out new but long overdue security and privacy features. The Amazon-owned company’s reputation was bruised after a spate of account breaches in late 2019, in which hackers broke into Ring user accounts and harassed children in their own homes. Then, taking advantage of Ring’s weak security practices, hackers developed bespoke software to brute-force the passwords on Ring accounts, which at this point were only protected by the user’s password. All the while, there were several caches of Ring user passwords floating around the…
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