News Headline: Atlassian scoops up Loom for $975M

Thursday, October 12, 2023

We've got some big stories for you today, so buckle up. In today's top story, Atlassian announced it will acquire video messaging service Loom for $975 million. Read why the price tag doesn't match the valuation.

Meanwhile, X (formerly known as Twitter) responded to the European Union after being put on blast by one of the region's commissioners. X was accused of not controlling disinformation and illegal content posted to its platform related to the Israel-Hamas war. Find out what Linda Yaccarino had to say.

And following an ongoing audit dispute that has been going on for decades, it seems the IRS has settled on a $28.9 billion tax bill for Microsoft. Here's how it got there.

Image Credits: Karen Dias/Bloomberg via Getty Images / Getty Images

More top reads

What Google is obsessed with: Google's new AI-powered search experience can now generate images and write drafts. What will you search for?

M&A: India-based credit card payment processor CRED is reportedly in talks to acquire mutual fund startup Kuvera. Get the scoop.

"Economic empowerment": Block, formerly known as Square, acquires music financial services startup Hifi. Here's why.

What shoppers are obsessed with: Ergo's Shopify app gives online retailers the joy of bartering without the hassle. Perhaps it's the end of sales as we know them.

Seeing is believing: Mojo Vision's Series A hits $43.5 million following a pivot to micro-LED displays. Is mixed reality a risky bet?

Yogurt, the magnificent: Bon Vivant took a new $15.9 million round of capital to help boost its ability to brew up versatile animal-free dairy proteins. Get your spoon ready.

What Swifties are obsessed with: Fave, the app for superfans, raises $2 million as it continues to reward users for their obsessions. Fans = friends.

The grandma test: That's what EVPassport said its app-less charging infrastructure needs to pass. Investors must agree because they just gave the company $200 million to build it out. Removing barriers, one grandma at a time.

What China is obsessed with: Didi's autonomous vehicle arm raised $149 million from state investors. We see lots of robotaxis ahead.

Even more for your Thursday:

Creators raising venture capital: unsettling or genius?

Lanch, which creates food delivery brands for influencers, gobbles up $6.9M

After delays, X updates Community Notes fact-checks to improve speed and distribution

Bluesky gets its first third-party mobile app with Graysky, launching later this month

Image Credits: Google

Incorporate Foursquare Places data into your App and drive user engagement

On the pods

Equity

This week, Equity had Tony Stubblebine on the show, the CEO of publishing platform Medium.com. Medium has gone through a number of versions over the years, but what has been a steady focus in Medium’s life in recent years has been its subscription business. Together, we’re digging into the business of the written word, Medium’s stance on AI and what its posture says about how the company views the value of writing. Listen here.

Chain Reaction

For this week's episode of Chain Reaction, Jacquelyn interviewed Grace Torrellas, Polygon Labs' VP of product and zkEVM product lead and co-founder and executive director of Blockchain for Humanity, at TechCrunch's Disrupt 2023 in San Francisco.

Breaking it down for you: zkEVM is just fancy jargon for scalable smart contracts that are compatible with Ethereum and supports a type of computation known as "zero-knowledge proofs," that verify each transaction. Polygon Labs has over 2.9 billion total transactions since inception in 2017. The Polygon network works with web3 organizations like Aave, Uniswap and OpenSea as well as big name brands like Disney and Starbucks. Listen here.