Under armour Abandoning one of its major acquisitions, Uber Eats faces complaints about free shipping to Black restaurants and Facebook takes another step to curb QAnon-related content. . This is your Daily Meeting on October 30, 2020.
Big story: Under Armor is selling MyFitnessPal
Five years after Under Armor acquired MyFitnessPal for $ 475 million, it sold the diet and workout tracking app to investment firm Francisco Partners for $ 345 million. It also shut down the Endomondo platform it acquired at the same time.
Under Armor said it is making these moves so that it can focus its brand on “target consumer ̵1; Focused performers”. However, the drop in prices suggests more is likely to happen here, perhaps business could suffer as companies like Peloton and Apple (with its upcoming Fitness + service) attract more attention. pay attention in the common fitness category.
It’s also worth noting that Under Armor isn’t giving up digital products entirely – it will continue to operate the MapMyFitness platform, which includes MapMyRun and MapMyRide.
Uber Eats faces discrimination allegations of free delivery from black-owned restaurants – Uber says it has received more than 8,500 arbitration requests due to a waiver of shipping fees. for some black-owned restaurants through Uber Eats.
Facebook is restraining the distribution of ‘save our kids’ hashtags on QAnon relationships – Over the past few months these terms have provided a kind of harmless cover for online conspiracy theories common.
Reliance Jio Platforms topped 400 million subscribers, explores expansion services outside of India – The telecom operator backed by Facebook and Google says their finances have improved, despite Translate.
Start-up, sponsorship and venture capitalism
Daimler invests in lidar company Luminar to push autonomous trucks onto highways – Luminar will also become a publicly traded company through a merger with special-purpose acquisition company Gores Metropoulos.
Nestlé acquires healthy meal startup Freshly for up to $ 1.5 billion – Founded in 2015, Freshly is a New York City-based startup that offers meals Healthy meals arrive at your doorstep weekly, then can be prepared in minutes via microwave or oven.
B8ta remains optimistic about IRL purchases with new acquisitions – B8ta offers shelf space for unique digital products.
Tips and analysis from Extra Crunch
New teacher partner Terri Burns has a simple investment thesis: Gen Z – Burns is the company’s youngest partner and the first Black woman to hold the role.
Is the 2020 tech congress slowing down? – What if COVID-19, volatility, and exaggerated pricing collide?
(Reminder: Extra Crunch is our membership program, which aims to democratize information about startups. You can sign up here.)
The teacher is leaving the school. Will they come to the next startups? The departure of teachers is a loss for public schools, but an opportunity for startups to race for a share of the changing teacher economy.
Big tech companies ‘black box’ algorithms face the scrutiny of the planned EU regulator – Major internet platforms will be required to open their algorithms to scrutiny The regulatory scrutiny is proposed that European lawmakers will put forward next month.
AOL founder Steve Case, who joined Season 230 early, says it’s time to change it – “There’s more dialogue between innovators and policymakers that’s really going to be very important. This third wave of the internet, ”Case told us.
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