Luckin Coffee has replaced co-founder and (now ex-) chairman Charles Zhengyao Lu, despite his efforts to maintain control over the troubled Beijing-based coffee chain. The company disclosed in an SEC filing on Monday that Jinyi Guo, another co-founder, board member and former acting chief executive of Luckin, has been appointed as its new chairman and […]
Google said on Monday that it plans to invest $10 billion in India in the next five to seven years as the search giant looks to expand its presence in the key overseas market. Sundar Pichai, the chief executive of Google, today unveiled Google for India Digitization Fund through which it will be making the […]
As scores of startups look to cash in on the video content void that ban on TikTok and other Chinese apps has created in India, a big challenger is ready to try its hand. Instagram said on Wednesday it is rolling out Reels — a feature that allows users to create short-form videos (up to […]
LeanIX, the enterprise architecture software company founded out of Bonn in Germany, has closed $80 million in Series D funding. The round is led by new investor Goldman Sachs Growth. Previous investors Insight Partners and DTCP also followed on. The Series D brings LeanIX’s total funding to over $120 million. The company says it will […]
Scott Salandy-Defour used to make frequent stops at a battery manufacturer in southern China for his energy startup based in Hong Kong. The appeal of Hong Kong, he said, is its adjacency to the plentiful electronics suppliers in the Pearl River Delta, as well as the city’s amenities for foreign entrepreneurs, be it its well-established […]
Last year Qualcomm announced the Snapdragon 765, promising to usher in an era of low-cost 5G devices. Motorola, naturally, was more than happy to take advantage of the technology. While the company has been flirting with premium devices (with mixed results), budget devices will almost certainly be the company’s bread and butter for the foreseeable […]
Maintaining satellites on orbit and ensuring they make full use of their operational lifespan has never been more important, given concerns around sustainable operations in an increasingly crowded orbital environment. As companies tighten their belts financially to deal with the ongoing economic impact of COVID-19, too, it’s more important than ever for in-s […]
A few years back, startups focusing on artificial intelligence had a whiff of bullshit about them; venture capitalists became inured to young tech companies claiming that their new AI-powered product was going to change the world as hype exceeded product reality. But in the time since, AI-powered startups have matured into real companies, with investors […] […]
Since the killing of George Floyd at the hands of four police officers heightened awareness about racial justice, the experiences of Black people in tech — and the industry’s lack of racial diversity — are getting new attention. In the tech ecosystem at large, the industry is still predominantly white and male, and venture capital […]
Competition continues to heat up in the food delivery wars. In the latest development, Uber today announced that it has acquired Postmates in a $2.65 billion, all-stock deal. It plans to run the business alongside its own food delivery business, Uber Eats, keeping the Postmates app running while merging some of the tech and delivery […]
Indonesia is not only Southeast Asia’s most populated country, but also one of the world’s fastest-growing economies. But many people, especially outside of major cities, still lack access to basic financial services like bank accounts. Payfazz is one of several tech startups focused on solving that problem by finding innovative ways to give more Indonesians […]
Facebook, which reaches more users than any other international firm in India, has identified a new area of opportunity to further spread its tentacles in the world’s second largest internet market. On Sunday, the social juggernaut announced it had partnered with the Central Board of Secondary Education, a government body that oversees education in private [ […]
Computer vision summit CVPR has just (virtually) taken place, and like other CV-focused conferences, there are quite a few interesting papers. More than I could possibly write up individually, in fact, so I’ve collected the most promising ones from major companies here. Facebook, Google, Amazon and Microsoft all shared papers at the conference — and […] […]
Earlier this week, GGV Capital’s Jeff Richards and Hans Tung joined TechCrunch for an Extra Crunch Live session. During our hour-long chat, we touched on startup profitability, the global venture capital scene, why GGV doesn’t have an office in Europe, how the venture industry is responding to its stark lack of diversity and other issues. […]
Welcome back to This Week in Apps, the Extra Crunch series that recaps the latest OS news, the applications they support and the money that flows through it all. The app industry is as hot as ever, with a record 204 billion downloads and $120 billion in consumer spending in 2019. People are now spending three hours and 40 minutes per […]
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