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Tesla wows on latest numbers - techcrunch

Tesla wows on latest numbers

Tesla’s latest quarterly numbers beat analyst expectations on both revenue and earnings per share, bringing in $8.77 billion in revenues for the third quarter. With the report that Tesla had already beaten Wall Street’s expectations for deliveries earlier this month, the question for today’s earnings call was how much efficiency (and by extension profit) the […]
techcrunch - 19 minutes ago
Quibi is dead, reports say - techcrunch

Quibi is dead, reports say

Plagued with growth issues, Quibi, a short-form mobile-native video platform, is shutting down, according to multiple reports. The startup, co-founded by Jeffrey Katzenberg and Meg Whitman, had raised nearly $2 billion in its lifetime as a private company. Quibi did not respond to requests for comment from TechCrunch. The company’s prolific fundraising efforts spanned prominent […]
techcrunch - 40 minutes ago
Datto trades modestly higher after pricing IPO at top of range - techcrunch

Datto trades modestly higher after pricing IPO at top of range

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techcrunch - 1 hour ago
Founders don’t need to be full-time to start raising venture capital - techcrunch

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Prop 22 opponents say Yes on 22 should not be able to mail flyers as nonprofit - techcrunch

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Secureframe raises $4.5M to help businesses speed up their compliance audits - techcrunch

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While certifications for security management practices like SOC 2 and ISO 27001 have been around for a while, the number of companies that now request that their software vendors go through (and pass) the audits to be in compliance with these continues to increase. For a lot of companies, that’s a harrowing process, so it’s […]
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Contrast, a developer-centric application security company with customers that include Liberty Mutual Insurance, NTT Data, AXA and Bandwidth, today announced the launch of its security observability platform. The idea here is to offer developers a single pane of glass to manage an application’s security across its lifecycle, combined with real-time analysis and reporting, as well […]
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Bob Iger goes from managing Mickey to directing a milk replacement startup as new Perfect Day boardmember - techcrunch

Bob Iger goes from managing Mickey to directing a milk replacement startup as new Perfect Day boardmember

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Lessons from Datto’s IPO pricing and revenue multiple

Last night Datto priced its IPO at $27 per share, the top end of its range that TechCrunch covered last week. The data and security-focused software company had targeted a $24 to $27 per-share IPO price range, meaning that its final per-share value was at the top of its estimates. The Exchange explores startups, markets […]
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TechCrunch readers probably know that privacy regulations like Europe’s GDPR and California’s CCPA give them additional rights around their personal data — like the ability to request that companies delete your data. But how many of you have actually exercised that right? An Israeli startup called Mine is working to make that process much simpler, […]
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Join Extra Crunch Live on October 27 for a conversation on early stage and storytelling success with GV’s M.G. Siegler

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Sam’s Club will deploy autonomous floor-scrubbing robots in all of its U.S. locations - techcrunch

Sam’s Club will deploy autonomous floor-scrubbing robots in all of its U.S. locations

The past six months have seen a fairly aggressive acceleration in the option of robotics and automation as companies look for ways to augment (and, likely, replace in some instances) human workers. The appeal is certainly clear during massive pandemic-fueled shut downs. Sam’s Club has been on the robotic floor cleaning chain for a bit […]
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Amazon is now offering Prime members one-hour grocery pickup at all Whole Foods Market locations across the U.S., the company announced this morning. Prime members can use the Amazon app or website to place orders from the Whole Foods Market tab to shop, then select their one-hour pickup window at checkout on orders of $35 […]
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TikTok details how it’s taking further action against hateful ideologies

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techcrunch
Indonesian cloud kitchen startup Yummy gets $12 million Series B led by SoftBank Ventures Asia

Indonesian cloud kitchen startup Yummy gets $12 million Series B led by SoftBank Ventures Asia

techcrunch - 3 weeks ago

Yummy Corporation, which claims to be the largest cloud kitchen management company in Indonesia, has raised $12 million in Series B funding, led by SoftBank Ventures Asia. Co-founder and chief executive officer Mario Suntanu told TechCrunch that the capital will be used to expand into more major cities and on developing its tech platform, including data analytics.

Other participants in the round included returning investors Intudo Ventures and Sovereigns Capital, and new backers Vectr Ventures, AppWorks, Quest Ventures, Coca Cola Amatil X and Palm Drive Capital. The Series B brings Yummy Corporation’s total raised so far to $19.5 million.

Launched in June 2019, Yummy Corporations network of cloud kitchens, called Yummykitchen, now includes more than 70 HACCP-certified facilities in Jakarta, Bandung and Medan. It partners with more than 50 food and beverage (F&B) companies, including major brands like Ismaya Group and Sour Sally Group.

During COVID-19 movement restrictions, Suntanu said Yummykitchen’s business showed “healthy growth” as people, confined mostly to their homes, ordered food for delivery. Funding will be used to get more partners, especially brands that want to digitize their operations and expand deliveries to cope with the continuing impact of COVID-19.

The number of cloud kitchens in Southeast Asia has grown quickly over the past year, driven by demand for food deliveries that began increasing even before the pandemic. But for F&B brands that rely on deliveries for a good part of their revenue, running their own kitchens and staff can be cost-prohibitive. Sharing cloud kitchens with other businesses can help increase their margins.

Other cloud kitchen startups serving Indonesia include Hangry and Everplate, but these companies and Yummy Corporation are all up against two major players: “super apps” Grab and Gojek, which both operate large networks of cloud kitchens that have the advantage of being integrated with their on-demand delivery services.

Suntanu said Yummy’s main edge compared to other cloud kitchens is that it also offers fully-managed location and kitchen operation services, in addition to kitchen facilities. This means Yummy’s partners, including restaurants and and F&B brands, dont need to hire their own teams. Instead, food preparation and delivery is handled by Yummy’s workers. The company also provides its clients with a data analytics platform to help them with targeted ad campaigns and making their listings more visible on food delivery apps.

In a statement, Harris Yang, Souteast Asia associate at SoftBank Ventures Asia, said the firm invested in Yummy because “given the companys strong expertise in the F&B industry and unique value proposition to brands, we believe that Yummy will continue to be the leader in this space. We are excited to support the team and help them scale their business in this emerging sector.”

sauce: techcrunch
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