News Headline: Meta rolls out broadcast-based messaging feature on WhatsApp

Thursday, June 08, 2023

Today we have lots of car talk for you vroom enthusiasts, plus news on a company that wants to take on Microsoft and one app that said Reddit's revised API terms were not good for business. This is your Daily Crunch for Thursday.

Image Credits: Chesnot/Getty Images / Getty Images

First, let's hop over to WhatsApp, where it is getting the Channels treatment, similar to what Meta did with Instagram. On WhatsApp, though, Channels messages will show up in a new tab called Updates. And these are one-way communications, so users won't be able to reply, making it perfect for organizations, like nongovernmental organizations and medical research institutions. Learn more.

Now meet Pigment, a France-based company that announced $88 million in new capital to improve on its business planning tool that will make you forget about Excel. Read more.

Seems like a lot of you were excited about Adobe bringing Firefly to enterprise customers. Businesses can use the generative AI tool to customize the model with their own branding. Find out how.

Over at Uber, its Australian test of car-sharing was so successful that the ride-hailing giant is bringing that same service to North America. See where you can try it out first. Meanwhile, Uber is "tooting its eco horn" with some new sustainability features. Find out more.

Didn't see that in the stars: Ursa Major, a rocket engine startup, reportedly had to make layoffs. Find out what happened.

Starting over: The RealReal's founder and former CEO Julie Wainwright has a new, venture-backed startup. Get the scoop.

Let me insure you: Amsterdam-based insurtech startup Insify grabs another $10.7 million for insurance targeting small businesses. Read all about it.

Can I borrow a token?: Aave banked $15 million to continue developing its Lens Protocol web3 product that enables users to lend and borrow crypto tokens. Learn more.

Don't forget about these:

AI startup Cohere, now valued at over $2.1B, raises $270M

Google's Password Manager gains biometric authentication on desktop

LinkedIn is the next social network to offer AI-powered tools for ad copies

Nigeria's Haul247 raises funding to scale its logistics platform

Bluesky's growing pains strain its relationship with Black users

Image Credits: IR_Stone / Getty Images

Meanwhile, we have even more car talk for you. Let's start with Segway-Ninebot, which is doing something of a PIVOT! in partnering with Drover AI and Luna Systems to integrate their technologies into Segway's AI-enabled e-scooters. Read more. Then Porsche has a new concept car that looks to be aiming for the "gold" standard of electric vehicles. See what it looks like. Next, Mercedes is the first to receive a permit to sell vehicles in California with hands-free, eyes-off automated driving. Learn more. Over at Toyota, the carmaker plans on spending $48 million on a new U.S.-based electric vehicle battery lab. Get the scoop. And in case you missed it, Apple Maps will show you available spots to charge your EV.

You Reddit right: Reddit is taking another look at its newly revised API terms following backlash from several Reddit communities. For example, Reddit says it plans to make exceptions for accessibility apps, which allow users, including people who are blind or visually impaired, a way to browse and use Reddit. However, popular third-party Reddit app Apollo said it was shutting down as a result of the new API pricing. Find out what happened there.

Brew master: Green Coffee Company has $25 million in new capital and plans to use its coffee by-products to create a new line of liquor and spirits. Read more.

AI think it's safe to go: Leading tech companies and researchers are preparing to attend a global AI safety summit being hosted in the United Kingdom. Learn more about what the strategy is here.

Before you go, here's a handful more:

VC-backed boba chain Ume wants to pour into mainstream with surprise plushies

EvenUp wants to automate personal injury settlements — to a point

Oura launches new 'Circles' social feature to share your personal health journey

North Korean hackers linked to Atomic Wallet crypto hack

Image Credits: Mercedes-Benz

What are Series A VCs looking for? Many seed investors aren't so sure anymore

Rebecca Szkutak interviewed three seed-stage investors to learn more about what it takes to close a Series A in June 2023:

Loren Straub, general partner, Bowery Capital
Eric Bahn, co-founder and general partner, Hustle Fund
Yoni Rechtman, venture principal, Slow Ventures

Now that ARR isn’t the North Star metric it once was, their answers varied. “The goal posts seem to be moving a lot,” said Bahn.

“It really sucks for a lot of people,” said Rechtman. “I really feel for people who I think have been sold a false bill of goods.”

Four more from the TC+ team:

Investors take note: Wildfire smoke will spark a surge in East Coast climate tech startups

How one software company is beating the SaaS growth blues

European startups on track to raise $51B this year, down 39% from 2022

Coinbase chief legal officer expects new crypto laws to come in wake of SEC lawsuits

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