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Harley-Davidson is getting into the electric bicycle business - techcrunch

Harley-Davidson is getting into the electric bicycle business

Harley-Davidson has spun out a new business dedicated to electric bicycles and plans to bring its first line of products to market in spring 2021. The new business called Serial 1 Cycle Company started as a project within the motorcycle manufacturer’s product development center. The name comes from “Serial Number One,” the nickname for Harley-Davidson’s oldest […]
techcrunch - 3 hours ago
Watch Facebook, Google, and Twitter’s CEOs defend the law that created social media to Congress - techcrunch

Watch Facebook, Google, and Twitter’s CEOs defend the law that created social media to Congress

The CEOs of Twitter, Facebook and Google will appear before the Senate Commerce Committee on Wednesday in big tech’s latest showdown with Congress. The Senate hearing will have a narrower, more policy-centric scope than other recent high profile tech hearings, focusing specifically on Section 230 of the Communications Decency Act. That short law might sound […]
techcrunch - 3 hours ago
Fab founder Jason Goldberg is back with Moxie, a new live-streaming fitness marketplace - techcrunch

Fab founder Jason Goldberg is back with Moxie, a new live-streaming fitness marketplace

Amid a pandemic that has closed down fitness centers worldwide, a spate of companies has muscled their way into the booming at-home fitness market. In just the last two weeks, three-year Future, which promises at-home customers access to elite training, closed on $24 million in Series B funding; and Playbook, a nearly five-year-old fitness platform […]
techcrunch - 6 hours ago
Trump’s campaign website hacked by cryptocurrency scammers - techcrunch

Trump’s campaign website hacked by cryptocurrency scammers

President Trump’s campaign website was briefly and partially hacked Tuesday afternoon as unknown adversaries took over the “About” page and replaced it with what appeared to be a scam to collect cryptocurrency. There is no indication, despite the hackers’ claims, that “full access to trump and relatives” was achieved or “most internal and secret conversations […]
techcrunch - 8 hours ago
Via and Hyundai-Aptiv joint venture to offer shared robotaxi rides next year - techcrunch

Via and Hyundai-Aptiv joint venture to offer shared robotaxi rides next year

Motional, the Hyundai-Aptiv joint venture, and on-demand shuttle startup Via plan to launch a shared robotaxi service for the public in a U.S. city in the first half of 2021. The companies said the aim is to develop a “blueprint” for on-demand shared robotaxis and learn how these driverless vehicles can be integrated into mass transit. […]
techcrunch - 8 hours ago
Intel Geospatial is a cloud platform for AI-powered imagery analytics - venture beat

Intel Geospatial is a cloud platform for AI-powered imagery analytics

Intel Geospatial is a platform that provides customers access to satellite imagery and more, as well as analytics tools.
venture beat - 8 hours ago
Daily Crunch: Zoom adds end-to-end encryption to free calls - techcrunch

Daily Crunch: Zoom adds end-to-end encryption to free calls

Zoom adds a much-requested feature (but with a catch), TikTok partners with Shopify and Jack Dorsey lays out his argument for tomorrow’s Senate hearing. This is your Daily Crunch for October 27, 2020. The big story: Zoom adds end-to-end encryption to free calls Zoom was criticized earlier this year for saying it would only offer […]
techcrunch - 9 hours ago
Mophie introduces a modular wireless charging module - techcrunch

Mophie introduces a modular wireless charging module

Here’s a clever addition for Mophie, one of the longstanding battery case makers, which is now a part of the same smartphone accessory conglomerate as Zagg, Braven, iFrogz and InvisibleShield. The Juice Pack Connect is a modular take on the category, with a battery pack that slides on and off. For $80, a 5,400mAh battery […]
techcrunch - 9 hours ago
Armenian email campaign asks SpaceX not to aid Turkish regime with satellite launch - techcrunch

Armenian email campaign asks SpaceX not to aid Turkish regime with satellite launch

SpaceX staff and members of the media have been inundated this morning with emails ostensibly from concerned Armenians around the world, asking the company to cancel a launch contract with the Turkish government. The concerns are valid — and the mass-email method surprisingly effective. In the form email, received by TechCrunch staff hundreds of times […]
techcrunch - 10 hours ago
Launch next-level networking with CrunchMatch at our TC Sessions: Space event - techcrunch

Launch next-level networking with CrunchMatch at our TC Sessions: Space event

TC Sessions: Space 2020, our first space technology event, launches December 16-17 and you won’t want to miss our virtual conference focused on this fast-emerging startup category. You’ll hear from the space industry’s top movers, shakers and decision makers including Space Command’s General John W. Raymond, NASA Administrator Jim Bridenstine and Tess Hatch of Bessemer […]
techcrunch - 10 hours ago
T-Mobile launches new TVision streaming bundles, pricing starts at $10 per month - techcrunch

T-Mobile launches new TVision streaming bundles, pricing starts at $10 per month

T-Mobile is launching new skinny bundles of live TV and streaming services to compete with expensive cable subscriptions. The carrier has already been moving into the TV market with the acquisition of Layer3 and the subsequent launch of TVision Home last year. However, that was closer to traditional cable, with a price tag starting at […]
techcrunch - 11 hours ago
Microsoft stock flat despite better-than-expected earnings, strong Azure growth - techcrunch

Microsoft stock flat despite better-than-expected earnings, strong Azure growth

Today after the bell, Microsoft reported its calendar Q3 2020 earnings, the period of that time corresponds to its Q1 fiscal 2021 period. In the three months ending September 30, Microsoft had revenues of $37.2 billion and per-share profit of $1.82. Analysts had anticipated the company to report $1.54 in earnings per share, generated from […]
techcrunch - 11 hours ago
Reddit will allow employees to work from anywhere, going forward - techcrunch

Reddit will allow employees to work from anywhere, going forward

Spurred on by the seemingly endless COVID-19 pandemic — and no doubt inspired by similar moves from companies like Twitter — Reddit today announced plans to offer its staff the opportunity to work remotely, going forward. The company announced the move in a blog post today, noting some practical exceptions to the rule, including those […]
techcrunch - 12 hours ago
How Jack Dorsey will defend Twitter in tomorrow’s Senate hearing on Section 230 - techcrunch

How Jack Dorsey will defend Twitter in tomorrow’s Senate hearing on Section 230

Three of tech’s most prominent CEOs tomorrow will face the Senate Commerce Committee during a virtual hearing tomorrow and their opening statements are beginning to trickle out. The hearing, scheduled for 10 AM ET Wednesday, will see Twitter’s Jack Dorsey, Facebook’s Mark Zuckerberg and Sundar Pichai of Alphabet in the hot seat for what’s sure […]
techcrunch - 13 hours ago
Instagram extends time limits on live streams to 4 hours, will soon support archiving - techcrunch

Instagram extends time limits on live streams to 4 hours, will soon support archiving

Instagram is adapting to the way creators have been using its service during the coronavirus pandemic. With individuals and businesses now limited from hosting in-person events — like concerts, classes, meetups, and more — users have turned to Instagram to live stream instead. Today, the company says it’s significantly expanding the time limit for these […]
techcrunch - 13 hours ago
Let’s move beyond 2020 and start thinking about the 2020s - techcrunch

Let’s move beyond 2020 and start thinking about the 2020s

Seasonality is critical for the media. End-of-year wrap-ups, best books for the summer, things to do this weekend — they’re all methods to note not only the passage of time, but also to begin to set the tone for what is about to come. Everyone covered the end of the 2010s with aplomb, a decade […]
techcrunch - 13 hours ago
Stark raises $1.5M for a toolkit that helps developers and others create more inclusive design - techcrunch

Stark raises $1.5M for a toolkit that helps developers and others create more inclusive design

Diversity and inclusion are slowly, slowly moving away from being an afterthought (or worse, a no-thought) in the tech world. And to underscore the new attention the area is getting — in every aspect of the concept — today a startup that’s building tools to help designers and developers make their end products more accessible […]
techcrunch - 14 hours ago
Wyze launches version 3 of its $20 security camera - techcrunch

Wyze launches version 3 of its $20 security camera

Wyze first made a name for itself when it launched its $20 indoor security camera a few years ago. Since then, the company branched out into other smart home products, ranging from doorbells to scales. Today, it’s going back to its origins with the launch of the Wyze Cam V3, the third generation of its […]
techcrunch - 14 hours ago
Ex-Blizzard dev Chris Metzen unveils Warchief Gaming tabletop game company - venture beat

Ex-Blizzard dev Chris Metzen unveils Warchief Gaming tabletop game company

Chris Metzen was the primary visionary at Blizzard Entertainment on games such as Warcraft, Diablo, StarCraft, and Overwatch. But toiling on games took a toll, and after 22 years, he left it all behind in 2016. Now, four years later, Metzen has recharged and is diving into tabletop games with Warchief Gaming. The former Blizzard […]
venture beat - 14 hours ago
Ubisoft’s subscription service comes to Stadia and Luna - techcrunch

Ubisoft’s subscription service comes to Stadia and Luna

Ubisoft originally announced its subscription service back in June. Today, the company is rebranding the service from UPlay+ to Ubisoft+. The service is also on its way to Amazon’s Luna and Google’s Stadia. Ubisoft is betting on a multi-platform subscription, which means that you’ll be able to subscribe once and play Ubisoft+ games on PC, […]
techcrunch - 15 hours ago
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techcrunch
Postmates cuts losses in Q2 as it heads towards tie-up with Uber

Postmates cuts losses in Q2 as it heads towards tie-up with Uber

techcrunch - 1 month ago

Popular food delivery service Postmates is in the process of merging with Uber in a blockbuster $2.65 billion deal that would see it join forces with its food delivery competitor, Uber Eats. The deal remains under antitrust scrutiny, and has not yet been approved for closing. The deal is expected to close in the first half of 2021.

However, a new SEC filing posted after hours this Friday gives us a glimpse into how Postmates is faring in the new world of global pandemics and sit-in dining closures across the United States.

Postmates posted a loss of just $32.2 million in Q2, compared to a loss of $73 million in Q1, nearly cutting its cash burning in half. That compares to Uber Eats results, which showed a loss of $286 million in the first quarter of 2020 and a loss of $232 million in the second quarter an improvement of roughly 20%, according to Ubers most recent financial reports.

Altogether, Postmates lost $105.2 million in the first half of 2020, compared to a loss of $239 million in the same period of 2019.

Uber through its filing today also disclosed the cap table for Postmates in full detail for the first time. On a fully-diluted basis, the largest shareholder in Postmates is Tiger Global, which owns 27.2% of the company. Following up is Founders Fund with 11.4%, Spark Capital with 6.9%, and GPI capital with 5.3%. At Ubers $2.65 billion all-stock deal, that nets Tiger Global roughly $720 million and Founders Fund roughly $302 million, not including some stock preferences and dividends that certain owners of the company hold.

While Postmates and Uber continue to go through the antitrust review process at the federal level, the companies also face legal pressure in their own backyards. Uber noted in its filing today that it and Postmates face headwinds due to Californias AB5 bill, which is designed to give additional employment protections to freelance workers. However, the company notes that such litigation may not, in and of itself, give rise to a right of either party to terminate the transaction.

sauce: techcrunch
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