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Flipkart doubles down on rewards program, partners with 5,000 retail outlets in India - techcrunch

Flipkart doubles down on rewards program, partners with 5,000 retail outlets in India

Flipkart on Monday launched SuperCoin Pay that its customers will be able to use across thousands of retail stores across the country as Walmart-owned e-commerce giant bets on its loyalty program to win and sustain its user base in the world’s second largest internet market. The Bangalore-headquartered e-commerce giant said it had partnered with over […]
techcrunch - 27 minutes ago
Personio raises $125M on a $1.7B valuation for an HR platform targeting SMEs - techcrunch

Personio raises $125M on a $1.7B valuation for an HR platform targeting SMEs

With the last year changing how (and where) many of us work, organizations have started to rethink how well they manage their employees, and what tools they use to do that. Today, one of the startups that is building technology to address this challenge is announcing a major round of funding that underscores its traction […]
techcrunch - 28 minutes ago
Signal and Telegram are also growing in China – for now - techcrunch

Signal and Telegram are also growing in China – for now

As fears over WhatsApp’s privacy policies send millions of users in the West to Signal and Telegram, the two encrypted apps are also seeing a slight user uptick in China, where WeChat has long dominated and the government has a tight grip on online communication. Following WhatsApp’s pop-up notification reminding users that it shares their […]
techcrunch - 1 hour ago
Virgin Orbit reaches orbit for the first time - techcrunch

Virgin Orbit reaches orbit for the first time

Virgin Orbit launched its LauncherOne rocket to orbit for the first time today, with a successful demonstration mission that carried a handful of satellites and will attempt to deliver them to low Earth orbit on behalf of NASA. It’s a crucial milestone for the small satellite launch company, and the first time the company has […]
techcrunch - 11 hours ago
GitHub’s head of HR resigns in light of termination of Jewish employee - techcrunch

GitHub’s head of HR resigns in light of termination of Jewish employee

A GitHub internal investigation has revealed the company made “significant errors of judgment and procedure” in the firing of the Jewish employee who cautioned his coworkers about the presence of Nazis in the DC area on the day of insurrection at the U.S. Capitol. In a blog post today, GitHub COO Erica Brescia said the […]
techcrunch - 12 hours ago
Original Content podcast: Martin Scorsese and Fran Lebowitz have a good time in ‘Pretend It’s A City’ - techcrunch

Original Content podcast: Martin Scorsese and Fran Lebowitz have a good time in ‘Pretend It’s A City’

The concept behind the new Netflix documentary series “Pretend It’s A City” is pretty straightforward: Author Fran Lebowitz talks, while Martin Scorsese (who’s both director and an on-camera presence) listens and laughs. Lebowitz’s musings across seven episodes are organized by loose themes, such as “Metropolitan Transit” and “Library Services,” with the more recent footage interspersed […]
techcrunch - 15 hours ago
Checkout wants to be Rapyd and Fast - techcrunch

Checkout wants to be Rapyd and Fast

Hello and welcome back to Equity, TechCrunch’s venture-capital-focused podcast, where we unpack the numbers behind the headlines. We’re back on this lovely Saturday with a bonus episode! Again! There is enough going on that to avoid failing to bring you stuff that we think matters, we are back yet again for more. This time around we […]
techcrunch - 1 day ago
Facebook blocks new events around DC and state capitols - techcrunch

Facebook blocks new events around DC and state capitols

As a precaution against coordinated violence as the US approaches President-elect Joe Biden’s inauguration, Facebook announced a few new measures it’s putting in place. In a blog post and tweets from Facebook Policy Communications Director Andy Stone, the company explained that it would block any events slated to happen near the White House, the U.S. […]
techcrunch - 2 days ago
GitLab raises $195M in secondary funding on $6B valuation - techcrunch

GitLab raises $195M in secondary funding on $6B valuation

GitLab has confirmed with TechCrunch that it raised a $195 million secondary round on a $6 billion valuation. CNBC broke the story earlier today. The company’s impressive valuation comes after its most recent 2019 Series E in which it raised $268 million on a 2.75 billion valuation, an increase of $3.25 billion in under 18 […]
techcrunch - 2 days ago
The pandemic was top of mind in the tech of CES 2021 - techcrunch

The pandemic was top of mind in the tech of CES 2021

Of course COVID-19 was bound to be an unavoidable topic during the first-ever all-virtual CES. After all, the topic is at front of mind regardless of the topic these days. Close to a year into the pandemic, presenters still understandably feel obligated to address the always-present elephant in the room. Sometimes it was as simple […]
techcrunch - 2 days ago
Daily Crunch: WhatsApp responds to privacy backlash - techcrunch

Daily Crunch: WhatsApp responds to privacy backlash

WhatsApp delays enforcement of a controversial privacy change, Apple may get rid of the Touch Bar in future MacBooks and Bumble files to go public. This is your Daily Crunch for January 15, 2021. The big story: WhatsApp responds to privacy backlash Earlier this month, WhatsApp sent users a notification asking them to consent to […]
techcrunch - 2 days ago
Marc Lore leaves Walmart a little over four years after selling Jet.com for $3B - techcrunch

Marc Lore leaves Walmart a little over four years after selling Jet.com for $3B

Marc Lore, the executive vice president, president and CEO of U.S. e-commerce for Walmart, is stepping down a little over four years after selling his e-commerce company Jet.com to the country’s largest retailer for $3 billion. Lore’s tenure at the company was a mixed bag. Walmart instituted several new technology initiatives under Lore’s tenure, but […]
techcrunch - 2 days ago
Coinbase commits to a “better customer experience” following complaints - techcrunch

Coinbase commits to a “better customer experience” following complaints

Coinbase has a problem. As interest in bitcoin has soared along with its price, the popular cryptocurrency exchange has found itself the target of a growing spate of angry customers who haven’t been able to access customer service. A quick look at Twitter tells the story. As ranted one upset user of the service just […]
techcrunch - 2 days ago
15 steps to fundraising a new VC or private equity fund - techcrunch

15 steps to fundraising a new VC or private equity fund

Based on my experience, taking the 15 steps below will help build the core of a high-performing fundraising and investor relations function.
techcrunch - 2 days ago
Lessons from Top Hat’s acquisition spree - techcrunch

Lessons from Top Hat’s acquisition spree

Top Hat, a startup that digitizes textbooks and turns them into an interactive experience for college students, announced on Wednesday that it has acquired yet another business: Fountainhead Press. The acquisition marks Top Hat’s third scoop of a publishing company in the past 12 months. Top Hat’s whole business proposition is a subtweet to Zoom […]
techcrunch - 2 days ago
Group Nine’s SPAC goes public - techcrunch

Group Nine’s SPAC goes public

Group Nine Media revealed last month that it was forming a SPAC (short for special purpose acquisition corporation) in order to raise money for acquisitions. The company has now moved forward with those plans, announcing last night that it had priced the SPAC’s IPO at $10 per unit, to raise a total of $200 million. […]
techcrunch - 2 days ago
Apple is extending Apple TV+ trials again - techcrunch

Apple is extending Apple TV+ trials again

If you’ve got an Apple TV+ trial that’s set to expire sometime between now and June, good news: you’re getting some free bonus time. Apple TV+ first launched in November of 2019, alongside a one-year free trial for anyone buying a new iPhone, iPad, iPod touch, Apple TV, or Mac. As those initial trials approached […]
techcrunch - 2 days ago
Desktop Metal buys fellow 3D printing company EnvisionTEC for $300M - techcrunch

Desktop Metal buys fellow 3D printing company EnvisionTEC for $300M

Desktop Metal this morning announced its intention to purchase fellow 3D printing company EnvisionTEC. Founded in Germany in 2002, EnvisionTEC specializes in photopolymer additive manufacturing, putting its technology in more direct competition with the likes of 3D printing darling Carbon than Desktop Metal’s own existing portfolio. The deal follows Desktop Metal’s push to go public […]
techcrunch - 2 days ago
WhatsApp delays enforcement of privacy terms by 3 months, following backlash - techcrunch

WhatsApp delays enforcement of privacy terms by 3 months, following backlash

WhatsApp said on Friday that it won’t enforce its new data-sharing policy until May 15, weeks after news about the new terms created confusion among its users, exposed the Facebook-app to a potential lawsuit, launched a nationwide investigation, and drove a lot of its loyal fans to explore alternative messaging apps. “We’re now moving back […]
techcrunch - 2 days ago
Twilio CEO Jeff Lawson says wisdom lies with your developers - techcrunch

Twilio CEO Jeff Lawson says wisdom lies with your developers

Twilio CEO Jeff Lawson knows a thing or two about unleashing developers. His company has garnered a market cap of almost $60 billion by creating a set of tools to make it easy for programmers to insert a whole host of communications functionality into an application with a couple of lines of code. Given that […]
techcrunch - 2 days ago
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techcrunch
The UK government to acquire satellite company OneWeb in deal funded in part by India’s Bharti Global

The UK government to acquire satellite company OneWeb in deal funded in part by India’s Bharti Global

techcrunch - 6 months ago

Distressed satellite constellation operator OneWeb, which had entered bankruptcy protection proceedings at the end of March, has completed a sale process, with a consortium led by the UK Government as the winner. The group, which includes funding from India’s Bharti Global part of business magnate Sunila Mittal’s Bharti Enterprises plan to pursue OneWeb’s plans of building out a broadband internets satellite network, while the UK would also like to potentially use the constellation for Positioning, Navigation and Timing (PNT) services in order to replace the EU’s sat-nav resource, which the UK lost access to in January as a result of Brexit.

The deal involves both Bharti Global and the UK government putting up around $500 million each, respectively, with the UK taking a 20 percent equity stake in OneWeb, and Bharti supplying the business management and commercial operations for the satellite firm.

OneWeb, which has launched a total of 74 of its planned 650 satellite constellation to date, suffered lay-offs and the subsequent bankruptcy filing after an attempt to raise additional funding to support continued launches and operations fell through. That was reportedly due in large part to majority private investor SoftBank backing out of commitments to invest additional funds.

The BBC reports that while OneWeb plans to essentially scale back up its existing operations, including reversing lay-offs, should the deal pass regulatory scrutiny, there’s a possibility that down the road it could relocate some of its existing manufacturing capacity to the UK. Currently, OneWeb does its spacecraft manufacturing out of Florida in a partnership with Airbus.

OneWeb is a London-based company already, and its constellation can provide access to low latency, high-speed broadband via low Earth orbit small satellites, which could potentially be a great resource for connecting UK citizens to affordable, quality connections. The PNT navigation services extension would be an extension of OneWeb’s existing mission, but theoretically, it’s a relatively inexpensive way to leverage planned in-space assets to serve a second purpose.

Also, while the UK currently lacks its own native launch capabilities, the country is working towards developing a number of spaceports for both vertical and horizontal take-off which could enable companies like Virgin Orbit, and other newcomers like Skyrora, to establish small-sat launch capabilities from UK soil, which would make maintaining and extending in-space assets like OneWeb’s constellation much more accessible as a domestic resource.

sauce: techcrunch
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