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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 - 16 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 - 2 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 - 7 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 - 12 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
Gig workers could get unemployment benefits under $2 trillion Senate stimulus bill

Gig workers could get unemployment benefits under $2 trillion Senate stimulus bill

techcrunch - 5 days ago

The Senate’s historic $2 trillion stimulus package will make history in one more way: by providing some financial assistance to gig workers.

Late last night, the Senate passed a $2 trillion stimulus bill in response to the COVID-19 pandemic. As part of the bill, which makes its way to the House of Representatives for a vote this week, gig workers would be eligible to apply for unemployment benefits. Additionally, the bill would provide $600 per week in federal assistance for unemployed workers for up to four months.

This is good news for gig workers, who have been fighting for companies like Uber, Lyft and DoorDash to provide them with benefits. In California, there is already a law that would give gig workers benefits, but companies have so far chosen not to adhere to it. Even more, companies like Uber, Lyft, DoorDash and Instacart are backing a ballot initiative that would enable them to keep their workers as independent contractors. These companies’ rationale is that the gig worker protections law in California, which outlines what makes someone an employee versus an independent contractor, does not apply to their businesses.

Earlier this week, Uber CEO Dara Khosrowshahi wrote a letter to President Donald Trump, asking him to include gig workers in the bill. Khosrowshahi also argued that there needs to be a third employment classification for gig workers that would update our labor laws to remove the forced choice between flexibility and protection for millions of American workers.

“I am thankful that the U.S. Senate has ensured that drivers and delivery peoplealong with all independent workerswill qualify for expanded unemployment insurance under the bipartisan COVID-19 relief package passed today,” Uber CEO Dara Khosrowshahi said in a statement. “The 1.3 million Americans who drive and deliver with Uber are facing extraordinary economic challenges. Many are on the front lines of this crisis, keeping their communities moving and getting food to people sheltering indoors. Those whove lost the opportunity to earn need and deserve this support.”

What Khosrowshahi is saying about workers facing extraordinary economic challenges and being on the frontlines of the crisis is true, but it doesn’t take into account the fact that Uber could offer drivers and delivery workers benefits without the help of the U.S. government. In addition to unemployment benefits, gig workers have organized around better pay, disability insurance and the right to unionize.

The stimulus bill passed in a 96-0 unanimous vote after days of deliberation on the Senate floor. The cooperative vote signals the country’s dire need for financial help, as political leaders from both parties worked toward a quick, imperfect bill that would provide Americans and the broader economy quick relief rather than getting mired in a protracted political back-and-forth over the package’s details.

While speed is key to the effort’s success, some of the bill’s critics are wary of repeating mistakes made during the 2008 financial crisis, when a massive federal bailout package rescued big business and finance while average Americans struggled to recover for the next decade. Presidential candidate Bernie Sanders pressed that comparison Wednesday night on the Senate floor, though ultimately voted to approve the measure and move it over to the House.

On Wednesday, Rep. Alexandria Ocasio-Cortez (D-NY) signaled her own objections to the stimulus package. If the House isn’t able to unanimously agree to pass the legislation, lawmakers currently in their home states during recess could return to Washington to cast a recorded vote and hash out the bill’s remaining details.

“With the health risks of travel, there is no easy choice here,” Ocasio-Cortez told CNN. “But essential workers are showing up and putting their health at risk every day, and if the final text of a bill is set up to hurt them, it may be something we have to do.”

sauce: techcrunch
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