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Firefly’s Alpha Rocket Successfully Reaches Orbit for the Fourth Consecutive Time

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firefly aerospace launched its Alpha rocket into orbit this morning, carrying a payload from Lockheed Martin into space. However, the company has not yet announced whether it was able to successfully deploy the satellite into its intended orbit, which could indicate a problem with the rocket’s second stage.

Today’s launch marks the fourth ever flight of Firefly’s Alpha rocket. The vehicle took off from Vandenberg Space Force Base in California at 9:32 a.m. local time. The mission, dubbed “Fly the Lightning,” was a commercial launch for customer Lockheed Martin. The rocket carried a Lockheed demonstrator payload called the Electronically Steerable Antenna (ESA) Technology Demonstrator to low Earth orbit.

Around 9:40 a.m. local time, Firefly tweeted Alpha’s second stage engine will be re-ignited and it will complete the orbit in about 40 minutes. From there, the Lockheed Martin payload was supposed to be deployed. However, the company still hasn’t provided an update after four hours.

ESA is a type of electronically steered antenna array. Lockheed says its unique design allows new ESA sensors to be calibrated in a fraction of the time compared to traditional orbital sensors, which can take months to power up and become operational. The payload of the company’s ESA demonstrator was integrated into a satellite bus built by Terran Orbital (Lockheed owns nearly 7% of Terran’s outstanding stock).

While the primary objective of the mission is to deploy the payload, Firefly says the mission team also tracks the total effort time from receiving the payload until it is ready for launch, providing space-saving launch capabilities. He said he would continue to demonstrate this to the military. .

Rapid launches are a top priority for the Space Force. Firefly has already demonstrated once during the previous Alpha mission, setting a new record for launch readiness. For this mission, Firefly had just 24 hours to complete its final preparations for launch, encapsulate its payload, and attach it to the rocket.

Source: techcrunch.com

Building a solid foundation for your startup can help you secure early-stage funding

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Russ Heddleston, CEO of Dropbox’s DocSend, says that as valuations fall, founders are more than ever “convinced that their company is built to survive with long-term profitability and scalability in mind. “I need to prove that,” he wrote.

All articles on TechCrunch+ are available to members only.
Use discount code TC Plus Roundup Save 20% on a 1-year or 2-year subscription.

According to data from DocSend, investors aren’t looking at proposal materials as seriously as they used to. However, there is still a market for early-stage deals. “For founders, perfecting their pitch, developing an efficient sales strategy, and quickly narrowing down their product scope will lay a strong foundation for success in attracting investors.”

Thank you for reading. I hope you have a nice vacation.

Karin

Ask Sophie: Is it still easy for AI founders to get a green card?

A lone figure stands at the entrance to a hedge maze, with an American flag in the center

Image credits: Bryce Durbin/TechCrunch

Dear Sophie

I’m interested in the Biden administration’s efforts to retain AI talent in the United States. How is the government making it easier for AI companies to sponsor permanent residency for their employees? Will the number of green cards allocated to individuals in the AI ​​field increase?

— All about AI

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Cryptocurrency valuations “back to reality” in 2023, but venture capitalists expect them to rise again in 2024

Image credits: Getty Images

It hasn’t been a great year for cryptocurrency companies, but change may be on the way. Experts told Jacqueline Melinek that crypto trading is likely to become active again in 2024. “The tougher funding environment in 2023 only culled out weaker companies that were able to secure capital in 2021,” she wrote.

From Seed to Series A: Strategic Insights for Technology Founders in the 2024 Venture Environment

Image credits: Getty Images

A new report from Forum Ventures provides a good look at the current state of early-stage B2B SaaS investing.

While the data may be discouraging, the silver lining is that rounds are still being made and companies that find product-market fit will likely scale up in the next few years, likely in the next bull market. “This means they should benefit,” wrote the CEO of Forum Ventures. Managing Partner Mike Cardamone.

Source: techcrunch.com

High-speed rail benefits from Hyperloop’s setbacks

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In 2013, Elon Musk published the following paper: white paper It teased the idea of ​​traveling at high speed from Los Angeles to San Francisco in just 35 minutes through a vacuum-sealed tube (a system he called Hyperloop). The idea was “born out of his hatred of California’s proposed high-speed rail system.” according to to his biographer Ashley Vance.

A decade later, Hyperloop One, the most high-profile startup to try to follow in Musk’s footsteps, close the door. News of its demise came less than two weeks after the Biden administration took office. announced Provides $6 billion in funding for high-speed rail projects across California.

This is a huge victory for public transit advocates, many of whom have struggled for decades to improve not just high-speed rail, but rail service overall. (Biden’s announcement includes Numerous other railway projects across the country.) But it’s by no means a complete victory.

First, many cities and states were fooled by the hyperloop’s siren song and then left adrift. In 2018, I reported on a story about the collapse of Arrivo (another hyperloop startup founded by one of Hyperloop One’s co-founders), and when I called the Colorado Department of Transportation to ask about the company’s bankruptcy, I finally got a response over the phone. I still vividly remember what I noticed. they didn’t know it happened.

Colorado wasn’t alone.Hyperloop One once promised to be built in West Virginia $500 million testing and certification facility state. They also built a test track near Las Vegas, where they briefly took some people through tubes. Clearly, that was enough for then-CEO Jay Walder. Claim It was “the first new means of mass transportation in over 100 years.”

Other hyperloop projects and companies remain, but most are located outside the United States. Thankfully, the country was already regaining momentum in investing in its rail system with a focus on faster trains.

The most high-profile initiative is Brightline, a company that recently expanded its existing service in Florida. all the way to orlandopassengers can travel there from as far away as Miami.

Brightline is also building what it calls “the nation’s first true high-speed rail network” between Los Angeles and Las Vegas. The project is supported by $3 billion in funding recently announced by the Biden administration and is expected to break ground in early 2024.

Building high-speed rail is about more than just money.There is deep-rooted problems Years of deregulation are getting in the way. With a project of this size, it’s difficult to stay on time and on budget.of other A big recipient of the newly announced federal funding (another $3 billion) is the high-speed rail project slated to run down the spine of California, a source of Mr. Musk’s ire.

Could the return of high-speed rail risk a rematch with the world’s richest man? Perhaps rail fans can take solace in seeing how distracted Musk has become since his 2013 white paper.

Moreover, aside from a few engineering competitions held by SpaceX, Musk has only enjoyed his Hyperloop project on a superficial level.

Musk once tweeted that he had received “verbal government approval.” build “New York-Phil-Balt-DC Underground Hyperloop” It was never built. In April 2022 he claimed His tunneling effort, The Boring Company, will “attempt to build a practical hyperloop.”The next day, the company tweeted “Full-scale testing of Hyperloop will begin later this year.” That also never happened.

Mr. Musk has spent the past decade with little involvement in Hyperloop, essentially outsourcing his efforts to abolish high-speed rail. The death of Hyperloop One casts a cloud over that premise, and the billionaire looks increasingly forced to make a decision: Will he be willing enough to find the time to finish the job himself?

Source: techcrunch.com

Improved EV Tax Credits are on the Horizon, but Finding Them is Becoming More Difficult

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The federal tax credit for electric vehicles is about to change in certain ways that will make them much more attractive to buyers. Starting January 1, rebates of up to $7,500 on eligible new vehicles and up to $4,000 on eligible used EVs will be available. when buying a caras opposed to what you have to claim when filing your taxes.

Even better, Over 7,000 car dealers Companies representing nearly half of the country’s new car dealerships have already registered to ensure they can offer in-store rebates.

However, there is a catch. Not many cars may be eligible to receive the full $7,500 credit in the new year, as new restrictions take effect on the components that make up these zero-emission vehicles.

This is the result of these credits being reconsidered as part of President Biden’s anti-inflation law. This process involved a lot of negotiation, particularly with U.S. Sen. Joe Manchin, over the ultimate purpose of the credits. Should they be the lubricant for the sale of zero-emission vehicles to help fight climate change, or a tool to help build an electric vehicle supply chain to North America?

As is often the case, the answer was somewhere in the vague middle. The credit was effectively split in two. If the automaker follows certain guidelines regarding the sourcing of battery materials, the vehicle will receive his $3,500 credit, and if it follows similar rules for battery parts, he will receive an additional $3,500 credit. given. (Beyond that, vehicles must be manufactured in North America to qualify.) Starting in 2024, these sourcing requirements will become even more stringent.

As a result, General Motors stated: Only this week That Chevrolet Volt will be fully tax deductible starting January 1st. Does not apply to the more expensive Cadillac Lyriq and brand new Chevrolet Blazer. GM, the country’s largest automaker, said it must accelerate plans to replace two minor parts in the Blazer and Lyriq to bring them into compliance with new regulations.

Meanwhile, Ford said only its F-150 Lightning is eligible for the full $7,500 credit. The Lincoln Corsair Grand Touring SUV is eligible for half the credit, but the Mustang Mach-E, Lincoln Aviator Grand Touring Plug-in Hybrid, and E-Transit van are not.

Even Tesla, a company particularly good at identifying and qualifying for clean energy credits and subsidies, initially said its long-range and rear-wheel drive Model 3 variants would lose half of their credits. A few days later In fact, they full credit. Tesla also signaled Model Y may be similarly ineligible.

As the new year approaches, more automakers are likely to share which electric vehicles are or are likely to be ineligible for the credit, and ultimately the Treasury Department will create a list on its website.

All of this uncertainty speaks to the level of complexity involved in manufacturing electric vehicles in a world where the majority of the supply chain remains in and around China. But it also highlights the guidelines’ somewhat troubling motivations.

Source: techcrunch.com

It is crucial to regulate artificial intelligence within the multi-trillion dollar API economy

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With 20 years of experience as a technology leader, Alex Akimov former Head of API at Adyen, now revolutionizing embedded finance. monitor Easily integrate your clients by building a best-in-class API.

Application programming interface (APIs) power the modern Internet, including most websites, mobile apps, and IoT devices we use. And thanks to the Internet’s ubiquity in nearly every corner of the planet, APIs have allowed people to connect to almost any functionality they desire. This phenomenon is often referred to as “.API economy“teeth, Market value to reach $14.2 trillion by 2027.

The increasing relevance of APIs in our daily lives has attracted the attention of several authorities who are introducing major regulations. The first level is defined by organizations such as IEEE and W3C and is intended to establish standards for the technical capabilities and limitations that define technology across the Internet.

Security and data privacy aspects are covered by internationally recognized requirements such as ISO27001, GDPR, etc. Their main goal is to provide a domain framework backed by an API.

But now, with the advent of AI, regulations are becoming even more complex.

How AI integration is changing the API landscape

Different types of AI have been around for a while, but it is generative AI (and LLM) that has completely changed the risk landscape.

Many AI companies are leveraging the benefits of API technology to bring their products into every home and workplace. The most notable example here is OpenAI’s early public release of its API. This combination would not have been possible just 20 years ago. At that time, neither API nor AI had reached the level of maturity that we started observing in 2022.

When writing code or collaborating with AI, Rapidly becoming the standard in software development, especially in the complex process of creating and deploying APIs. Tools like GitHub Copilot and ChatGPT can write code that integrates with any API, and will soon define specific methods and patterns that most software engineers use to create APIs. In some cases, even if you don’t fully understand it.

We’ll also discuss how companies like Superface and Blobr are innovating in the API integration space, using AI to enable you to connect to the APIs you need in a way that would interact with a chatbot.

One type of AI that has been around for a while is generative AI (and large-scale language models). [LLMs]) completely changed the risk landscape. GenAI has the ability to create things in infinite ways, and this creativity will either be controlled by humans or, in the case of artificial general intelligence (AGI), will exceed current control capabilities.

Source: techcrunch.com

Akron Energy secures $110 million investment to expand Bitcoin mining operations and launch AI cloud services in Norway

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Akron Energy data center infrastructure company has closed a $110 million private funding round to expand its business, CEO Josh Payne exclusively tells TechCrunch.

The round was led by Bluesky Capital Management with participation from Kestrel 0x1, Nural Capital, and Florence Capital.

The company was founded in 2021 and started with a 5-megawatt site in Australia. Since then, its output has grown to over 130 MW, and it has expanded to other countries and regions such as the United States and Europe.

“These sites are attractive to both Bitcoin miners and AI.” [or] It’s a machine learning client that requires very high-powered computing,” Payne said. By the way, statistics show that 1 megawatt can power 400 to 900 homes per year. Nuclear Regulatory Commission.

Approximately $80 million will be used to acquire an additional 200 megawatts of capacity across new data centers in Ohio, North Carolina, and Texas as part of the company’s plan to increase its total megawatt capacity by 130% by mid-2024. be exposed. This is in addition to an existing 100-megawatt facility in Ohio that Akron purchased in June, Payne noted.

“The United States is an attractive market for us in many ways, primarily due to huge domestic customer demand, a mature and robust energy industry with multiple flexible deregulated markets, and a strong political and・Regulatory stability and attractiveness to institutional investors,” Payne said. “The United States has a wealth of underutilized and stranded generation assets that are connected to some of the lowest-cost power sources in the world, many of which are renewable.”

Payne said the majority of the company’s U.S. data center portfolio is made up of institutional-grade Bitcoin mining companies. “We are essentially landlords who own the underlying infrastructure assets.”

Akron’s business model is focused on strategically acquiring distressed data center assets around the world. “The current and future demand for data center capacity of all types seen around the world, especially in the United States, is unprecedented and huge. We have energy-intensive platforms that require significant amounts of electrical infrastructure.”

The remaining $30 million will be used to develop an artificial intelligence cloud services project at Akron’s data center in Norway to help serve the generative AI and large-scale language model training markets. “Over the past year, we have seen a significant acceleration in market demand for generative AI and large-scale learning model applications,” he said.

However, there is a lack of specialized physical infrastructure to power computers and support most of these products. Akron aims to fill that gap by providing the underlying infrastructure layer that the AI ​​sector relies on.

Over the past year, with spot ETF approval looming, on top of Bitcoin’s potential growth and adoption in the mainstream institutional market, there has been a “meteorous rise in AI applications,” such as Akron’s Specialized data centers are “poised to continue to grow exponentially,” Payne said.

Source: techcrunch.com

5 Cybersecurity Stories That Make Us Green with Envy in 2023

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In 2018, my former VICE Motherboard colleague Joseph Cox and I began publishing a list of the best cybersecurity articles published elsewhere, with HTML tags for our readers. It wasn’t just to honor a friendly competitor, by adding articles from other publications, we were providing readers with a complete picture of what happened in the world of cybersecurity, privacy, and surveillance in the year that was just coming to an end. Our original inspiration was Bloomberg Businessweek’s Jealous List, which is an Overview of current progress A selection of the best stories published elsewhere, chosen by Bloomberg reporters and editors. Now that both Cox and I have left Motherboard, TechCrunch is taking a look at the Cyber ​​Jealousy List, relisting the year’s best cybersecurity stories and the ones we were most jealous of. — Lorenzo Franceschi-Bicchierai.

If you were using the internet in October 2016 and lived on the East Coast of the United States, you may have heard of the day Twitter, Spotify, Netflix, PayPal, Slack, and hundreds of other major websites stopped working for several hours. You will remember that. As it turns out, this is the work of his three enterprising young hackers, who have built one of the most effective distributed denial-of-service tools ever created. In this long work, andy greenberg profiles three young hackers and tells the untold stories of their lives, from teenage computer geeks to seasoned cybercriminals and ultimately reformed cybersecurity experts. . Sit back in your comfortable chair and immerse yourself in this must-read. In September, an unholy alliance of Russian cybercriminals and Western teenagers with exceptional social engineering skills allegedly hacked and destroyed the MGM casino in Las Vegas, causing widespread chaos. . This was one of the most talked about cyberattacks of the year, and several publications were written about this story. jason kabler former editor-in-chief of VICE Motherboard and currently one of the co-founders of the worker-owned outlet. 404 Media He had the smart idea to fly to Las Vegas and see the mess for himself. The result of his trip was a work that showed just how badly MGM was hurting, creating, as Kebler puts it, a “nightmare” for casino employees. NPR cybersecurity correspondent Jenna McLaughlin reported from Kiev that she had recorded a series of excellent news and audio stories about life in wartime Ukraine. People defending the country after the Russian invasion. Cyber ​​warfare has played an important role in warfare. Cyber ​​attack hits Ukraine’s energy sector and the military operation.Mr. McLaughlin’s dispatch period varied widely. In reporting on Ukraine’s defensive (and offensive) operations against the Russian invaders, Highlights of ordinary daily life in Ukraine Of course, it’s a special feature on soccer. In a surprising change of attitude, electronics manufacturer Anker admitted that its cameras were not always encrypted. In short, security researchers discovered a bug that shows: Access unencrypted streams of customer videos, even though Anker’s Eufy cameras claim to be end-to-end encrypted. The Verge verified and reproduced the security researcher’s findings and his Anker The company eventually admitted that its cameras were not end-to-end encrypted. and was actually producing an unencrypted stream. Hats off to The Verge for their impressive and tenacious reporting that gets to the bottom of the issue. Anker’s misrepresentation and failure to cover it up. In 2020, Russian government hackers slipped malicious code into the software supply chain of SolarWinds, a tech company whose customers range from giant corporations to federal agencies. The hack was stealthy and incredibly effective, giving the Russians an opportunity to steal secrets from a rival country.Veteran cyber security reporter Kim Zetter They spoke with those who helped investigate the incident and reconstructed the stealth hack almost shot by shot in an incredibly detailed and deep investigation.Zetter also published Convenient and detailed timeline of events On her substack, worth subscribing If you haven’t done so yet. The SolarWinds hack two years ago went down in history as the most audacious and sophisticated supply chain hack ever undertaken.

For years, few people knew about Appin, an Indian company. However, as reported by Reuters, thanks to an investigation based on “hundreds of interviews, thousands of documents, and research from multiple cybersecurity companies,” a team of journalists discovered that Appin was involved in hacking activities for hacking purposes. reported and made public evidence showing that It helped obtain information on executives, politicians, military personnel, and wealthy people around the world. This is one of the most detailed and thorough looks inside the shadow world of professional hacking companies that don’t work for governments like his team or his NSO group, but for wealthy private clients. This is one of the things I researched.When this story itself became a headline Reuters forced to remove article to comply with New Delhi court order. Reuters reported. Editor’s note It supports the report. Trickbot is one of the most active and damaging Russian cybercrime organizations, attacking thousands of businesses, hospitals, and governments over the past few years.The study is based on interviews with cybersecurity experts and analysis of large amounts of data from ransomware gangs leaked online. matt burgess and lily hay newman Revealing one of Trickbot’s “key personas”.Journalists identified him as a Russian man who said he was “obsessed” with Metallica and liked classic movies. hacker. A week after the reporter published this article, US and UK governments announce sanctions against 11 people For alleged involvement in Trickbot, including the man identified in WIRED’s original article. Today, U.S. and British authorities sanctioned 11 suspected Trickbot members, and the Department of Justice dropped three charges against Trickbot and Conti members. Maxim Galochkin is the only person charged in all three cases. @WIRED It was made public in an investigation last week. Data obtained by a Politico reporter includes nearly a year’s worth of facial recognition requests. Alfred Ng In the year after New Orleans police began using facial recognition, the technique was shown to fail to identify suspects in most cases and was used almost exclusively against black people.The use of facial recognition by police, law enforcement, and government agencies remains highly controversial act all over America. Critics have argued that facial recognition is deeply flawed at the technical level because it is almost always trained on white faces, but Ng’s report shows that facial recognition is a serious problem for authorities using the technology. It confirms what civil rights activists have long argued is that it amplifies prejudice. Or, in the words of a New Orleans City Council member who voted against facial recognition, its use in New Orleans is “totally ineffective and patently racist.” Toward the end of last year, password management company LastPass lost its encrypted password vault containing customer passwords and other sensitive information to cybercriminals during a previous data breach. I admitted that. The full impact of this theft remained unknown until September 2023. Cybersecurity reporter Brian Krebs Researchers have reported that they have identified a “highly reliable set of leads” to more than 150 possible victims of cryptocurrency theft related to stolen LastPass password vaults. According to Kleb’s extensive reporting, more…

Source: techcrunch.com

Google Addressing Antitrust Concerns in Germany Regarding Bundled Car Services

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The move follows a competitive objection filed against Google in Germany this summer over the bundling of Google Maps and other services through its Android-based in-vehicle infotainment system software, known as Google Automotive Services (GAS). The tech giant will eliminate some service bundling and contractual restrictions that apply to automakers to resolve regulatory intervention.

Google’s proposed remedies will be applied to the automaker in a market test by Germany’s competition regulator, which will then determine whether it resolves the problems it has identified.

Back in June, this country’s Federal Cartel Office (FCO) sends statement of objection He spoke to tech giants about how to operate GAS, specifically referring to the Google Maps, Google Play, and Google Assistant bundles that Google offers automakers.

The statement also highlighted Google’s practice of giving a portion of its advertising revenue to automakers only if they refrain from pre-installing other voice assistants next to their voice AI. Another concern raised by the FCO is that Google requires GAS license holders to set bundled services as default or prominently display them. It also took issue with Google’s refusal to restrict or allow interoperability of services included in GAS with third-party services.

At the time, the FCO said its preliminary view of Google’s practices around GAS was that they did not comply with German competition rules for large digital companies. This would give the FCO greater freedom to intervene where it suspects competition is being undermined.

“In particular, we are critical of Google’s ability to offer its services for infotainment systems only as a bundle. This reduces the opportunity for competitors to sell competing services as individual services. body,” the FCO said in the summer.

Regulators said they will now carefully consider Google’s proposal to determine whether an appropriate level of separation of its services from in-vehicle infotainment platforms would address competition concerns.

“We are particularly concerned about the forced bundling of the reach of services with significant market power with those with less power. “This is particularly problematic as a way to ‘infiltrate’ the market,” said FCO Chairman Andreas Mundt. press release Google is expected to announce its proposal on Wednesday. “It may reduce the opportunity for our competitors to sell competing services. We will now look very closely at whether Google’s proposal can effectively eliminate the practices that raised our concerns.” ”

Google’s proposed remedy to address the FCO’s competition concerns provides three products separately in addition to the GAS product bundle: Google Maps OEM Software Development Kit, Google Play Store, and Cloud Custom Assistant. This means that automakers will be able to: Develop mapping and navigation services with functionality comparable to Google Maps.

The addition of Google Play Store also allows end users to download a wider selection of third-party apps, alleviating concerns that they will be steered toward using Google’s own apps. Cloud Custom Assistant is described as a “proprietary AI voice assistant solution” for use in vehicles to enable automakers to offer competitive assistants.

The tech giant is also proposing to remove contractual clauses it imposes on advertising revenue sharing provided its proprietary Google Assistant voice AI is exclusively pre-installed on the GAS infotainment platform. .

“Google is also prepared to remove contractual provisions relating to setting Google services as a default application or displaying them prominently on infotainment platforms,” ​​the FCO said. “Finally, Google stands ready to enable licensees to combine the Google Assistant service with other mapping and navigation services and provide the technical prerequisites to create the necessary interoperability.”

“Based on the results of market testing, federal cartel ramt [FCO] It will be determined whether Google’s proposal generally addresses concerns that have been addressed to date. The question of whether Google’s proposal amounts to a bundled offering of Google’s services in the automotive sector will become decisive in this context.”

Google was asked for comment on the proposal.

The technology giant’s business was placed under Germany’s Special Competition Abuse Regulation Regime in January 2022. Since then, the FCO has extracted a number of concessions from the company over how it operates, including securing an agreement on Google’s data reform this autumn. Under the terms, users will be able to gives you more choice in how you can use your information. Last year, Google also proposed limiting how news content it licenses from third-party publishers appears in search results to address regulators’ concerns about self-preference.

Germany’s digital competition restart applies only to designated high-tech giants within the market, but companies may choose to apply product changes globally to manage operational complexity (For example, by launching a new account center, as Meta did this summer, users are opting out of cross-site tracking after the FCO intervened, and the company plans to roll this out globally.) announced).

The European Union has also recently implemented its own pre-competition reforms in the form of the Digital Markets Act (DMA) targeting so-called internet gatekeepers. The FCO’s enforcement against Big Tech therefore raises the possibility of what action will be taken across the bloc next year, when compliance deadlines for the six targeted his DMA gatekeepers and their 22 core platform services begin next year. You can get a glimpse of what’s going on. This list includes Google Maps, Google Play, Google Shopping, Google Ads, Google Chrome, Google Android, Google Search, and YouTube, the Google-owned video sharing platform.

Notably, the EU has not designated GAS as a core platform service. This may partly explain the FCO’s focus on GAS here, as competition regulators across the region seek to avoid duplication of intervention. (Germany’s status as a major automaker may also facilitate scrutiny of Google’s automotive software and services.)

The FCO also began proceedings on Google Maps in June 2022, some time before the DMA was approved by the bloc’s co-members.

On the other hand, the pan-EU regulation began to be applied in May 2023. However, the deadline for DMA gatekeepers to comply is March 2, 2024, so a full restart of Big Tech competition across the EU will not occur until then. next year. This may be enough reason for the FCO to continue monitoring Google Maps for some time. (In this regard, the German regulatory authorities also Said The EU will continue to “cooperate closely” with EU competition authorities on regulating the digital economy.

As of June 2023, the FCO has announced that it will continue to investigate Google’s terms of use for the Google Maps Platform (GMP), and in a preliminary assessment, the tech giant will end restrictions on combining its own GMP mapping services. Use a third party map service that you mentioned you need to type.

“These restrictions could hinder competition between applications relating to mapping services used by, for example, logistics, transport and delivery service providers,” the FCO said at the time. “It could also negatively impact competition among services for vehicle infotainment systems by making it more difficult for map service providers to develop effective alternatives to Google Maps.”

Ex-ante competition law reforms in Germany and across the EU are aimed at curbing fraudulent practices by digital giants that could further consolidate their vast market power, and European regulators are looking to move ahead with these more aggressive reforms. We hope that such interventions will have a better effect on correcting the imbalances in the digital economy. The implementation of a classic competition could be achieved. (A related example of classic enforcement is the 123 million fine that Italy’s competition watchdog imposed on Google in May 2021 over restrictions it applied to third-party app makers via its Android Auto in-car software.) There is a dollar fine.)

Source: techcrunch.com

Africa’s Biggest B2B e-commerce Platform MaxAB in Discussion to Merge with Wasoko

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Egyptian B2B e-commerce startup MaxAB and Wasoko, a Kenya-based e-commerce company with operations in Tanzania, Rwanda, Uganda and Zambia, are in talks to merge, TechCrunch exclusively learns from multiple sources. I got it. They said negotiations are still ongoing and the agreement has not yet been finalized.

The merger talks come as African B2B e-commerce companies continue to downsize due to lack of funding. Wasoko is no exception. The company recently carried out its largest ever layoffs, affecting most of its employees in Kenya, including some executives. Earlier this year, the company exited the Senegal and Ivory Coast markets and closed locations, including one in Mombasa, Kenya, as it sought profitability.

Additionally, our sources say Wasoko closed a $125 million round last year, with the funds scheduled to be released upon reaching set milestones. TechCrunch has learned that the company received just $30 million when merger talks, said to be investor-led, began. Wasoko has raised a Series B round from institutional investors including Tiger Global and Avenir at a post-money valuation of $625 million.

Like Wasoko, MaxABa food and grocery B2B e-commerce and distribution platform serving a network of traditional retailers in Egypt and Morocco, has raised over $100 million in funding, including DisruptAD, BII, Sources said the company is in talks with existing investors to raise a bridge round this year, including $55 million in Series A and $40 million in pre-Series B from Silverlake.

MaxAB is the largest player in the B2B retail and e-commerce market in Egypt and North Africa. The company acquired YC-backed Waystocap to expand in Morocco, and the supposed threat Capiter shut down amid a conflict between its founders and investors.

Last year, a merger between MaxAB and Wasoko, both asset-heavy B2B e-commerce startups, seemed unlikely. In discussions last year with MaxAB CEO Belal El Meghaber and Wasoko CEO Daniel Yu, there was no indication that they were considering any form of merger. MaxAB’s post-pre-Series B plans are focused on leveraging its network and relationships with local and multinational suppliers, with the aim of full distribution in Morocco and expansion into Saudi Arabia by the end of the year. Meanwhile, Wasoko was looking to expand in West Africa, aiming to expand its product offering to include point-of-sale systems, bill payments, and social commerce.

MaxAB does not have a presence in Saudi Arabia, at least according to its website, while Wasoko has expanded into two West African markets, Ivory Coast and Senegal, to complement its operations in East Africa’s core markets of Kenya, Tanzania and Uganda. Not doing business. And Rwanda. His eight-year-old B2B e-commerce company has since expanded to Zambia and the Democratic Republic of Congo.

Continues further

Source: techcrunch.com

Startup performance is better than you think

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Data shows hope amid this year’s dark headlines

on the face (expression) With the recent economic downturn and concerns about the startup bubble bursting, you may be surprised to hear that startups are doing better than you think. I’ve talked to a lot of founders who are struggling to raise money, and it’s a real problem. However, there are some startups that focus on business fundamentals and are still thriving.

Dig deep into the data of emerging accounting firms Kurze Consulting Startups that can focus on fundamentals, i.e. startups that are run more like a “real” business rather than the “growth at all costs” mentality of the past few years. This indicates that the company is in a serious situation. Decent shape. Looking at the numbers, this shows up as an increase in median runway length, lower operating costs, and a promising increase in profitability.

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A leaner run than I expected. image credits: Kruse Consulting

“Average burn is down this year due to lower operating expenses, which means founders are focused on being more efficient,” said Kruze Consulting Vice President of Financial Strategy. one Healy Jones told me. “Of course, much of that is due to headline-grabbing layoffs (so nothing to brag about), but on the other hand, founders are learning how to use their capital more effectively, which is good for the ecosystem. it’s a good thing.”

Median startup runway, the estimated length of time a company can operate before running out of cash, actually increased in the second half of 2023. Now it’s a staggering 12.5 months, which is significantly higher than 9-10 months. Typically expected after an average funding round.

Source: techcrunch.com