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Daily Crunch: Adobe snaps up Figma in proposed $20B deal that has some scratching their heads

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Happy Thursday! Has everyone recovered from Zoom going down this morning? Don’t worry, Zoom is back up, but if anything, we hope it helped you have a quieter day…for a while at least.  — Christine and Haje
The TechCrunch Top 3
One rival at a time: The digital design world got a treat today when Adobe announced it was buying Figma, one of its biggest rivals, in a $20 billion deal that has both investors and Figma enthusiasts pondering what will change and if those changes will be bad, Ingrid reports. Meanwhile, Alex gives his take on the deal over in TechCrunch+ land.
“The Merge” is here: Talk of “The Merge” has been with us for weeks, and today it is finally here. If you don’t follow cryptocurrency, this means that Ethereum, one of crypto’s most popular blockchains, has now switched to proof-of-stake consensus, which also means it will now consume a lot less electricity, Romain writes. And for TC+, Jacquelyn tells us why it matters that Lido, Coinbase, Kraken and Binance have a majority stake of ETH.
There’s a fix for that: Apple is clearing a path for easy iPhone 14 integration with a setup fix. Ivan has more.
Startups and VC
Today, Haje has been running around at Micromobility America. They insist on using the MMA acronym, so he’s expecting a fist to the face any moment, but so far the only risk of injury has been from neck-breaking micromobility in the form of electric rollerblades. It’s probably a coincidence that Kav announced it is spooling up a 3D printing factory for bike helmets on the same day.
Looks like mobility is everywhere these days — Matt notes that mobility startups are filling the void in a Detroit auto show that’s a shell of its former self.
The TechCrunch team has been extraordinarily busy. There’s a wall of news on the TechCrunch homepage; here’s a few of the ones that caught our eye this fine Thursday:
Like private equity, but with pocket change: Anita reports that Allocations just raised at a beefy $150 million valuation in its mission to help private equity funds lure smaller investors.
You and me, baby, ain’t nothing but mammals, so let’s invest across multiple channels: U.K.-based fintech Lightyear is extending its stock-trading offering to include a wide selection of stocks and traded funds (ETF), Paul reports.
From the shirt off your back to the shiz in your bag: Reusable packaging startup Olive creates a new model to keep clothes out of landfills, Christine reports.
We’re sure more money will fix this: VCs look the other way as they give $205 million more to Verkada, whose tech (and lax security) has been abused repeatedly, Connie reports.
To Infinity and beyond: Morpheus Space’s satellite thrusters are propelled forward with a $28 million Series A, reports Stefanie.
Pitch Deck Teardown: Helu.io’s $9.8M Series A deck
Image Credits: Helu (opens in a new window)
Helping small- and medium-sized enterprises with their controlling, reporting and budgeting may not sound exciting, but Austrian fintech startup Helu.io’s storytelling skills excited investors enough to raise a $9.8 million Series A in July.
With the exception of some details regarding unit economics and revenue, Helu shared its entire winning pitch deck with us. As these slides suggest, its founders took a straightforward approach:
Problem: “The CFO’s pain is Excel.”
Solution: “Good-bye Excel sheets.”

Pitch Deck Teardown: Helu.io’s $9.8M Series A deck

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Big Tech Inc.
Whenever Call of Duty is mentioned, we can’t help but recall Rashida Jones’s character in “The Office” giving the game a shout-out. In today’s case, Jordan was there as Activision unveiled what the game’s next generation will look like.
We won’t be undone: Amanda got “BeReal” with TikTok’s newest feature, which will have you experiencing a bit of déjà vu.
“The Merge,” take two: We know you enjoyed Romain’s coverage of “The Merge”; now Rita reports on how this has affected cryptocurrency miners.
Two giants make an even bigger giant: Want to know what happens to customer data when Salesforce and Snowflake partner? Ron can tell you.
All eyes on gaming: While Activision was over there unveiling the new Modern Warfare game, the company’s proposed tie-up with Microsoft is getting a deeper look from the United Kingdom’s antitrust investigators, Natasha L reports.
Back in the hot seat: Taylor watched the latest Senate Homeland Security Committee meeting featuring executives from Meta, TikTok, YouTube and Twitter so you don’t have to. Spoiler, they  dodge questions about social media and national security.
Daily Crunch: Adobe snaps up Figma in proposed $20B deal that has some scratching their heads by Christine Hall originally published on TechCrunch
Daily Crunch: Adobe snaps up Figma in proposed $20B deal that has some scratching their heads

Google, YouTube outline plans for the US midterm elections

Google and its video sharing app YouTube outlined plans for handling the 2022 U.S. midterm elections this week, highlighting tools at its disposal to limit the effort to limit the spread of political misinformation.
When users search for election content on either Google or YouTube, recommendation systems are in place to highlight journalism or video content from authoritative national and local news sources such as The Wall Street Journal, Univision, PBS NewsHour and local ABC, CBS and NBC affiliates.
In today’s blog post, YouTube noted that it has removed “a number of videos” about the U.S. midterms that violate its policies, including videos that make false claims about the 2020 election. YouTube’s rules also prohibit inaccurate videos on how to vote, videos inciting violence and any other content that it determines interferes with the democratic process. The platform adds that it has issued strikes to YouTube channels that violate policies related to the midterms and have temporarily suspended some channels from posting new videos.
Image Credits: Google
Google Search will now make it easier for users to look up election coverage by local and regional news from different states. The company is also rolling out a tool on Google Search that it has used before, which directs voters to accurate information about voter registration and how to vote. Google will be working with The Associated Press again this year to offer users authoritative election results in search.
YouTube will also direct voters to an information panel on voting and a link to Google’s “how to vote” and “how to register to vote” features. Other election-related features YouTube announced today include reminders on voter registration and election resources, information panels beneath videos, recommended authoritative videos within its “watch next” panels and an educational media literacy campaign with tips about misinformation tactics.
On Election Day, YouTube will share a link to Google’s election results tracker, highlight livestreams of election night and include election results below videos. The platform will also launch a tool in the coming weeks that gives people searching for federal candidates a panel that highlights essential information, such as which office they’re running for and what their political party is.
Image Credits: YouTube
With two months left until Election Day, Google’s announcement marks the latest attempt by a tech giant to prepare for the pivotal moment in U.S. history. Meta, TikTok and Twitter have also recently addressed how they will approach the 2022 U.S. midterm elections.
YouTube faced scrutiny over how it handled the 2020 presidential election, waiting until December 2020 to announce a policy that would apply to misinformation swirling around the previous month’s election.
Before the policy was initiated, the platform didn’t remove videos with misleading election-related claims, allowing speculation and false information to flourish. That included a video from One America News Network (OAN) posted on the day after the 2020 election falsely claiming that Trump had won the election. The video was viewed more than 340,000 times, but YouTube didn’t immediately remove it, stating the video didn’t violate its rules.

YouTube declares war on US election misinformation… a month late

In a new study, researchers from New York University found that YouTube’s recommendation system had a part in spreading misinformation about the 2020 presidential election. From October 29 to December 8, 2020, the researchers analyzed the YouTube usage of 361 people to determine if YouTube’s recommendation system steered users toward false claims regarding the election in the immediate aftermath of the election. The researchers concluded that participants who were very skeptical about the election’s legitimacy were recommended significantly more election fraud-related claims than participants who weren’t unsure about the election results.
YouTube pushed back against the study in a conversation with TechCrunch, arguing that its small sample size undermined its potential conclusions. “While we welcome more research, this report doesn’t accurately represent how our systems work,” YouTube spokesperson Ivy Choi told TechCrunch. “We’ve found that the most viewed and recommended videos and channels related to elections are from authoritative sources, like news channels.”
The researchers acknowledged that the number of fraud-related videos in the study was low overall and that the data doesn’t consider what channels the participants were subscribed to. Nonetheless, YouTube is clearly a key vector of potential political misinformation — and one to watch as the U.S. heads into its midterm elections this fall.

Facebook will disable new political ads a week before US midterm elections

Google, YouTube outline plans for the US midterm elections

Daily Crunch: Embedded finance fintech Pezesha raises $11M pre-Series A equity-debt round

To get a roundup of TechCrunch’s biggest and most important stories delivered to your inbox every day at 3 p.m. PDT, subscribe here.
Hey, hey, hey! Good to have you back with us again. Today, we’re mostly amazed at how quiet Twitter gets during Burning Man, and excited that we’re doing a Labor Day sale for TechCrunch Plus, if you’ve been wanting to read our subscription site but you’ve been holding off for whatever reason. — Christine and Haje
The TechCrunch Top 3
Embed that finance: Pezesha, a Kenyan-based fintech startup, is flush with $11 million in new capital as it seeks to bridge the gap between access to financial products and what is a “$330 billion financing deficit for the small enterprises that make up 90% of Africa’s businesses,” Annie reports.
We’re all connected: If you haven’t yet seen yourself in one of your Twitter connection’s Circles, you may soon. The social media giant is launching the “Close Friends” features globally, Ivan reports. Add a bunch of people to your Circle and get tweeting.
No delivery for you: Delivery platform Gopuff has only been in Europe since November 2021, but Natasha L writes it made the decision to discontinue its service in Spain. She cites that perhaps this is to focus more on the United Kingdom market where revenue there is increasing 30% month over month.
Startups and VC
Initialized Capital was VC Garry Tan’s answer to a need first highlighted by Y Combinator. As a partner at the accelerator from 2010 to 2015, Tan spent time working with companies to better understand what they needed from investors after they graduated. This week, he announced he’s back at the helm at YC, and Natasha M interviewed him about what’s next for Y Combinator.
The company behind last summer’s hot social app, Poparazzi, appears to be readying a round two following its $15 million Series A announced in June. A new listing in the App Store under the developer’s account, TTYL, is teasing a pre-release app called Made with Friends, Sarah reports.
When the news hits your eye, like a big pizza pie, that’s a-more-news:
Notification bubbles: Devin reports that, at long last, there’s an underwater messaging app.
Money for laundering: Flush with fresh funds, U.K. “eco laundry” startup Oxwash raised $12 million to spin up its growth plans, Natasha L reports.
Faster when further afield: The U.K.’s £5 billion Project Gigabit gives out its first contract to connect rural areas to high-speed broadband, Paul reports.
PriceOye gets the Thiel seal of approval: Islamabad-based startup PriceOye offers a range of electronics products, including smartphones, TVs and home appliances. It just closed a round of funding from investors, including Peter Thiel, reports Jagmeet.
Dodging the SPAC bullet: Alex and Anna wrote a really interesting piece on TC+ (use “DC” for a 15% discount if you’re not a subscriber yet) about SPACs, how they are falling apart, and how Europe may have dodged a bullet on that front.
How to communicate to your crypto community when things aren’t going well
Image Credits: Peter Dazeley (opens in a new window) / Getty Images
Because it’s a nascent industry that’s largely unregulated, crypto companies are not generally skilled at crisis communications. (We’re being generous here.)
When a bank or financial services company experiences a massive security failure or a volatility shock, federal laws dictate how it must communicate with its customers. Crypto startups, however, must rely on their own best judgment.
“There’s little benefit in declaring that the sky is falling and begging your community for investment, but an overly rosy outlook won’t fool anyone either,” says Tahem Verma, co-founder and CEO of Mesha.

How to communicate with your crypto community when things aren’t going well

(TechCrunch+ is our membership program, which helps founders and startup teams get ahead. You can sign up here.)
Big Tech Inc.
Last chance to get your game on in the Facebook Gaming app. The social media giant said it is shutting down its stand-alone app at the end of October, Aisha reports. Don’t worry, you can still find your games in Gaming on actual Facebook. When launching the separate app two years ago, it seemed to be more difficult than Facebook bargained for, so it decided to join ’em instead of beating ’em.
Data duh!: Millions of faces and vehicle license plates were leaked online in China, Zack writes.
Ghosts can drive?: A Tesla Model 3 owner filed a class action lawsuit against the electric vehicle maker alleging the car keeps “phantom braking,” Jaclyn reports. 
New security regime: Broadband and mobile carriers in the United Kingdom could face fines of up to $117,000 per day or 10% of their sales if they don’t abide by some new cybersecurity rules, Ingrid writes.
More Elon: Taylor has the 411 on Elon Musk’s new strategy for getting out of the Twitter deal — hint, it involves the company’s whistleblower. Meanwhile, Paul goes over the new subpoena related to the ongoing battle.

Daily Crunch: Embedded finance fintech Pezesha raises $11M pre-Series A equity-debt round

Meme-based dating app Schmooze allows matches to share memes with each other

Sharing a meme with someone you just met can be tricky, especially if you’re trying to flirt with them. Are they into wholesome puppy memes? Or maybe they like dark Homelander memes? Whatever the case may be, Schmooze, the meme-based dating app, is designed to match users with like-minded people who want to make each other laugh.
To use the app, a person swipes right to like, left to dislike, and up to love memes from a selection curated via artificial intelligence. Match suggestions will pop on the screen based on meme choices, and the person can select either “Snooze” or “Schmooze.” The algorithm takes into consideration what types of humor both you and the potential match enjoy or reject.
Today, Schmooze launched a new feature called “Schmooze Flirts” for users to share memes with their matches. “Schmooze Flirts” handpicks memes from the app’s algorithm that a match would likely laugh at and encourages a user to send meme to their match to spark a conversation. The user has 48 hours to message the other person or the chat will automatically disappear. The app also provides icebreakers to help you out before a match gets removed.
Users can now set a limit on the distance for the matches as well.
Image Credits: Schmooze
Additional features are coming to Schmooze next week, including meme pick-up lines and “Schmooze Ayooo,” a place on the app for people to post funny pictures from their own camera roll. Currently, the app doesn’t allow memes from users to enter its algorithm due to quality and appropriateness control concerns. Over the next two months, Schmooze plans to create a user-content platform and let users upload their own memes.
Schmooze is available on the App Store and Google Play Store, however, “Schmooze Flirts” and the upcoming features are only available for iOS users. There will be a delay of two to three weeks until the features are available on Android devices.
When setting up a profile, the user must answer what their “#MemeVibe” is by selecting options such as dark humor, puns, wholesome, relatable, NSFW, gaming, anime, among other topics and categories. They then add profile photos, a bio, their four favorite music artists, memes they like and their TV show binge list.
Note that while there are systems in place to catch fake profiles, extensive background checks aren’t done to eliminate people with a history of crime or violence. The target audience for Schmooze is Gen Z (17+), so users should always prioritize safety, especially when it comes to dating online.

Meme-based dating is here: Meet Schmooze

Vidya Madhavan and Abhinav Anurag founded the startup and beta-tested the Schmooze app at Stanford University. In March 2021, Schmooze came out of beta. The dating app has grown to over 50,000 users with more than 15 million memes swiped and 750,000+ matches made.
A few months ago, the company raised $3.2 million in seed funding, led by Inventus Capital and Silicon Valley Quad, with participation from Lightspeed and Graph Ventures.
Meme-based dating app Schmooze allows matches to share memes with each other

Top anonymous social app NGL forced to stop tricking its users

A popular anonymous social app that was misleading its users with fake messages has been forced to change. The top-ranked app NGL, which became the No. 1 app on the U.S. App Store in June, quietly rolled out an update yesterday that sees it now informing users when they receive messages that aren’t from their friends — as users had been previously led to believe. Before, NGL sent these fake messages as a means of creating engagement, then charged for “hints” about the message’s sender.
The app has also now lowered its subscription pricing, which promises to reveal details about who is behind the anonymous messages.
NGL is one of a handful of anonymous social apps that had recently shifted their attention to Instagram after Snapchat cracked down on apps of this nature using its developer tools, as part of Snap’s broader efforts to reduce harm to minors.
To use NGL, users would tap a button in the app to copy a unique URL they could share with friends and followers across the web.
Image Credits: NGL App Store listing
While Snap could prevent direct integrations with its own developer tools, NGL users could still copy and paste the special link into their Snapchat Stories or wherever they chose — like Twitter or any other app. However, a “Share” button in the app made it easy to post directly to Instagram Stories. Then, when others saw the link on their friend’s Story or post, they could click it to anonymously ask that person a question. These questions would appear as messages in NGL’s in-app “Inbox” for users to read and respond to.
However, NGL had a trick up its sleeves. If users didn’t get any engagement on their shared link, the app itself would generate messages automatically. Users had no real way of knowing that these messages were actually fake questions the app was sending them. But many suspected that was the case as the questions sounded like things their friends wouldn’t ask. (We confirmed the messages were fake by generating an NGL link but not sharing it. We then received messages).
NGL’s app reviews have been filled with complaints that its questions seemed to be coming from bots. What’s worse, the app developer was charging users for “hints” to learn more about who was asking the question. This means users were paying, in some cases, for hints about bots!  This could be considered fraud. (We’d advise impacted users to request refunds from Apple.)
The NGL app got its ideas from rival Sendit, a similar social app that also offers a variety of Snapchat games. In fact, Sendit’s maker is now suing NGL for stealing its ideas — the NGL developer previously worked on Sendit before realizing the potential in simply cloning the idea and raking in the money himself. As it turns out, there is some business to be had here. By July, NGL had topped 15 million downloads and had pulled in  $2.4 million in revenue by selling its subscriptions.

Anonymous social app NGL tops 15M installs, $2.4M in revenue as users complain about being scammed

TechCrunch had called out NGL for its misleading tactics and, apparently, someone was listening. (Actually, we do understand there was a discussion between the developer and Apple about this). NGL has not commented.
Yesterday, NGL issued an update that now sees it labeling its fake messages with a tag that reads “sent with from the NGL team.” This is meant to indicate the message is not from a friend but from the app itself. (Arguably, the wording could be clearer. Some users — particularly among its target market of young adults —  could interpret this tag to mean the message is simply being delivered by the app.)
These messages also don’t show a subscription prompt. In addition, the subscription cost was lowered a bit, from $9.99/week to $6.99/week and now includes other features beyond “hints.” For instance, it touts users will get “early access” to exclusive games besides the anonymous Q&A. One of the paid games is already included — an anonymous confessions game.
The app’s rival Sendit’s Q&A feature had worked in much of the same way and it, too, just updated its subscription. Now, instead of just charging for hints, Sendit “Diamond members” can reveal the name and Bitmoji of the sender (in some cases), access exclusive games, unlock a custom icon and remove ads from the experience, the app claims. However, its pricing still remains $9.99 per week.
Though the viral buzz around these apps has since died down a bit, they still remain highly ranked. NGL is the No. 9 app on the U.S. App Store’s Lifestyle charts and Sendit is No. 12 among Social Networking apps.
Top anonymous social app NGL forced to stop tricking its users