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Grab hires Peter Oey as its chief financial officer - techcrunch

Grab hires Peter Oey as its chief financial officer

Grab announced today that it has hired Peter Oey as its new chief financial officer. Prior to joining Grab, Oey was the chief financial officer at LegalZoom, an online legal services company based near Los Angeles. Before that, he served the same role at Mylife.com, an online platform that aggregates information about people based on […]
techcrunch - 32 minutes ago
Investors tell Indian startups to ‘prepare for the worst’ as Covid-19 uncertainty continues - techcrunch

Investors tell Indian startups to ‘prepare for the worst’ as Covid-19 uncertainty continues

Just three months after capping what was the best year for Indian startups, having raised a record $14.5 billion in 2019, they are beginning to struggle to raise new capital as prominent investors urge them to “prepare for the worst”, cut spending and warn that it could be challenging to secure additional money for the […]
techcrunch - 3 hours ago
Vericool raises $19.1 million for its plant-based packaging replacement for plastic coolers - techcrunch

Vericool raises $19.1 million for its plant-based packaging replacement for plastic coolers

Vericool, a Livermore, Calif.-based startup that’s replacing plastic coolers and packaging with plant-based products, has raised $19.1 million in a new round of financing. The company’s stated goal is to replace traditional packaging materials like polystyrene with plant-based insulating packaging materials. Its technology uses 100% recycled paper fibers and other plant-based materials, according to the […]
techcrunch - 8 hours ago
Xerox drops $34B HP take-over bid amid COVID-19 uncertainty - techcrunch

Xerox drops $34B HP take-over bid amid COVID-19 uncertainty

Xerox announced today that it would be dropping its hostile takeover bid of HP. The drama began last fall with a flurry of increasingly angry letters between the two companies, and confrontational actions from Xerox including an attempt to take over the HP board that had rejected its takeover overtures. All that came crashing to […]
techcrunch - 9 hours ago
Marriott says 5.2 million guest records stolen in another data breach - techcrunch

Marriott says 5.2 million guest records stolen in another data breach

Marriott has confirmed a second data breach in three years — this time involving the personal information on 5.2 million guests. The hotel giant said Tuesday it discovered the breach of an unspecified property system at a franchise hotel in late February. The hackers obtained the login details of two employees, a hotel statement said, […]
techcrunch - 10 hours ago
FDA introduces a new program to expedite deployment of potential coronavirus treatments - techcrunch

FDA introduces a new program to expedite deployment of potential coronavirus treatments

The U.S. Food and Drug Administration (FDA) announced a new program today that’s designed to foster close collaboration between public and private organizations in order to “bring coronavirus treatments to market as fast as possible,” according to U.S. Department of Health & Human Services Secretary Alex Azar in a press release. The program, dubbed the […]
techcrunch - 10 hours ago
Stocks post worst quarter since 2008 financial crisis - techcrunch

Stocks post worst quarter since 2008 financial crisis

The first quarter of 2020 ended with a whimper  — with the Dow Jones Industrial Average, S&P 500 and NASDAQ posting their worst quarter in decades — as the COVID-19 pandemic continues to cause uncertainty and volatility across all major stock market indices. At the beginning of the quarter, we were still basking in a […]
techcrunch - 11 hours ago
OrbitFab secures National Science Foundation funding to propel its satellite refueling tech to space - techcrunch

OrbitFab secures National Science Foundation funding to propel its satellite refueling tech to space

On-orbit satellite refueling technology is closer than ever to a practical reality, which could help immensely with the cost and sustainability of orbital businesses. Startup OrbitFab, a 2019 TechCrunch Battlefield finalist, is one of the companies working to make orbital refueling a reality, and it just secured a new contract from the National Science Foundation’s […]
techcrunch - 11 hours ago
FCC mandates strict caller ID authentication to beat back robocalls - techcrunch

FCC mandates strict caller ID authentication to beat back robocalls

The FCC unanimously passed a new set of rules today that will require wireless carriers to implement an tech framework to combat robocalls. Called STIR/SHAKEN, and dithered over for years by the carriers, the protocol will be required to be put in place by summer of 2021.
techcrunch - 11 hours ago
Maybe we shouldn’t use Zoom after all - techcrunch

Maybe we shouldn’t use Zoom after all

Now that we’re all stuck at home thanks to the coronavirus pandemic, video calls have gone from a novelty to a necessity. Zoom, the popular videoconferencing service, seems to be doing better than most and has quickly become one of, if not the most, popular option going. But should it be? Zoom’s recent popularity has […]
techcrunch - 11 hours ago
No proof of a Houseparty breach, but its privacy policy is still gatecrashing your data - techcrunch

No proof of a Houseparty breach, but its privacy policy is still gatecrashing your data

Houseparty has been a smashing success with people staying home during the coronavirus pandemic who still want to connect with friends. The group video chat app, interspersed with games and other bells and whistles, raises it above the more mundane Zooms and Hangouts (fun only in their names, otherwise pretty serious tools used by companies, […]
techcrunch - 12 hours ago
Facebook launches a global version of its Community Help feature in response to the COVID-19 pandemic - techcrunch

Facebook launches a global version of its Community Help feature in response to the COVID-19 pandemic

Facebook first launched its Community Help feature in 2017, to give users a way to offer assistance, search for and receive help in the wake of a crisis. The feature has since been used to connect Facebook users after man-made, accidental, and natural disasters, like terrorist attacks or weather events, for example. Today, Facebook is […]
techcrunch - 12 hours ago
On-demand shuttle startup Via hits $2.25 billion valuation on latest funding round led by Exor - techcrunch

On-demand shuttle startup Via hits $2.25 billion valuation on latest funding round led by Exor

On-demand shuttle startup Via has hit a $2.25 billion valuation following a Series E funding round led by Exor, the Agnelli family holding company that owns stakes in PartnerRe, Ferrari and Fiat Chrysler Automobiles. The Series E funding round, which included other investors, totaled $400 million, according to a source familiar with the deal. Exor invested […]
techcrunch - 13 hours ago
General Catalyst just announced $2.3 billion in new capital commitments across three funds - techcrunch

General Catalyst just announced $2.3 billion in new capital commitments across three funds

General Catalyst, the 20-year-old venture firm that has been bulking up in recent years, announced this morning that it has secured $2.3 billion in capital commitments across three funds: a $600 million early-stage fund, a $1 billion growth fund for companies with $10 million-plus in annual revenue, and a $700 million “endurance fund” to back […]
techcrunch - 13 hours ago
Join the FirstMark Capital squad for a live Q&A on Zoom tomorrow at 9am PDT - techcrunch

Join the FirstMark Capital squad for a live Q&A on Zoom tomorrow at 9am PDT

Stuck at home? JK! I know you are! You’re not alone. FirstMark Capital partners Rick Heitzmann, Amish Jani, Matt Turck and Beth Ferreira are also working from home. But neither distance nor virus can truly keep us all apart. That’s why I’m thrilled to announce that tomorrow at 12pm EDT/9am PDT, we will be joined […]
techcrunch - 13 hours ago
How to value a startup in a downturn - techcrunch

How to value a startup in a downturn

The value of technology companies has fallen as the broader public markets have repriced themselves in light of COVID-19-related market and economic disruptions. And as the public markets sort out the new value of a huge piece of global business, private companies are being shaken as well. What happens in the public markets trickles into […]
techcrunch - 13 hours ago
Apple acquires Dark Sky, Android version shutting down in July - techcrunch

Apple acquires Dark Sky, Android version shutting down in July

Dark Sky, the popular weather app, has been acquired by Apple . News of the acquisition comes by way of Dark Sky’s own blog. The company says that there will be “no changes” for users on iOS right now — but for DarkSky users on Android, the forecast isn’t so good. The company says it’ll […]
techcrunch - 13 hours ago
Wasteland 3 delayed to August 28 - venture beat

Wasteland 3 delayed to August 28

InXile Entertainment announced today that Wasteland 3 is now coming out on August 28. The postapocalyptic role-playing game was supposed to release for PC, PlayStation 4, and Xbox One on May 19. InXile studio head Brian Fargo noted in a statement released on Twitter that remote working because of the coronavirus is one of the […]
venture beat - 14 hours ago
Call of Duty: Modern Warfare 2 remaster launches on PS4 - venture beat

Call of Duty: Modern Warfare 2 remaster launches on PS4

Activision confirmed one of its worst-kept secrets: Call of Duty: Modern Warfare 2 Campaign Remastered is now out on the PlayStation 4. The move surprised no one, as the trailer leaked via a PlayStation Store listing, and other details of the remaster were exposed by a data miner over the weekend. The remaster includes the […]
venture beat - 14 hours ago
Brandless founder Tina Sharkey joins the board of PBS - techcrunch

Brandless founder Tina Sharkey joins the board of PBS

Tina Sharkey, the founder and former CEO of the recently closed D2C brand Brandless, has today been appointed to the board of directors of PBS. Sharkey is an independent board member. Before her time at Brandless, Sharkey spent years in the media world. She scaled Johnson & Johnson’s platform for new and expecting moms called […]
techcrunch - 14 hours ago
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techcrunch
Leafly lays off 91 employees with funding on pause

Leafly lays off 91 employees with funding on pause

techcrunch - 5 days ago

Cannabis giant Leafly cut 91 staffers this week in response to the coronavirus outbreak. The company said in a released statement that the workforce reduction allows the company to be financially self-sufficient while still being able to operate during the global pandemic.

The 91 employees represented 39% of the company’s workforce and came from all departments within the company. In January, the company cut 54 employees (18% of its workforce at the time). Then in February, the company closed its operation in Germany.

Since its launch in 2010, Leafly has become a leading source of cannabis information for consumers, retailers, and brands alike. The company is a wholly independent company after spinning out from Privateer Holdings in 2019. The company is lead by Tim Leslie, a former Amazon executive. The three founders, Cy Scott, Scott Vickers, Brian Wansolich, left to start Headset, a startup focused on providing the cannabis industry with advanced analytics.

“We’re heartbroken to have to let so many talented people go in such an uncertain time,” said CEO Tim Leslie in a released statement. “Although Leafly continues to grow and rapidly deploy pickup and delivery services for retailers and brands across North America, COVID-19 has rocked global financial markets and put further capital investments we were expecting on pause. This workforce reduction will allow us to be financially self-sufficient so we can continue to help consumers and patients learn about and order cannabis online while providing cannabis retailers and brands the services they need during this global crisis.

The company says that the financial crisis caused by Covid-19 put committed investments into Leafly on hold; thus, the company turned to job cuts to ensure the company can operate without outside investments.

After the cuts, Leafly Holdings employs 143 employees, with half focusing on the company’s online ordering technology. The company says it will continue to focus on content and building tools for retailers and brands.

sauce: techcrunch
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