Rackspace is going public again – ProWellTech
Let’s take a look at Rackspace finances, a modification of the Facebook code causes numerous problems with the apps and the electric vehicle company Rivian raises $ 2.5 billion. Here is your Daily Crunch for July 10, 2020.
The big story: Rackspace is back in public
The cloud computing company went public in 2008, before accepting a $ 4.3 billion offer to go private with Apollo Global Management. Rackspace says it will use IPO proceeds to reduce the debt load.
Alex Wilhelm took a dip in Rackspace’s finances, concluding that the correct assessment is a “puzzle”:
Society is technological, which means it will find some interest. But its slow growth rate, heavy debts and poor margins make it difficult to find a fair multiple.
The giants of technology
The new report outlines a potential roadmap for Apple’s ARM-based MacBooks: analyst Ming-Chi Kuo said that a 13.3-inch MacBook powered by new Apple processors will arrive in the fourth quarter of this year.
Changing the Facebook code caused the Spotify, Pinterest and Waze apps to cease – Facebook appears to have been responsible for some apps that crashed this morning.
As reported by Politico, California launches an antitrust investigation on Google – This makes California the 49th state to launch an antitrust investigation into the search giant.
Startups, financing and venture capital
Rivian raises $ 2.5 billion as it pushes to bring its RT1, SUV R1S electric pickup to market – The company plans to bring its electric and SUV pickup, as well as delivery vans to Amazon, to market in 2021 .
A glimmer of hope for the Indian food delivery market, as Zomato projects a monthly cash burn of less than $ 1 million – “We will only lose $ 1 million this month” doesn’t seem like a big achievement, but at least things seem to be headed the right direction.
Extra Crunch tips and analysis
How Thor Fridriksson’s ‘Trivia Royale’ gained 2.5 million downloads in 3 weeks – The latest game from the founder of QuizUp was (briefly) the best app in the App Store. Let’s talk to Fridriksson about how he did it.
Pin COVID-19: travel unicorn Klook sees a leap in permanence – With the collapse of bookings for experiences abroad, Klook has started offering DIY kits for home stay projects and has collaborated with reference sites to offer virtual tours.
Operator Collective brings diversity and inclusion in business investment – The company, founded last year, said it currently has 130 LPs for operators, 90% of whom are women and 40% of black people.
(Reminder: Extra Crunch is our subscription program, which aims to democratize startup information. You can sign up here.)
All the rest
NASA signs an agreement with Japan to cooperate through the Space Station, Artemis and Lunar Gateway projects – Japan first expressed its intention to participate in the Lunar Gateway program in October 2019, making it one of the first countries to to do it.
Fairness: Silicon Valley builds on immigrant innovation – The latest episode of Equity discusses how recent visa changes will affect Silicon Valley.
Five reasons to participate in the TC Early Stage online: 21 and 22 July! I will be there!
The Daily Crunch is ProWellTech’s collection of our biggest and most important stories. If you would like this to be delivered to your inbox every day around 3:00 PM Pacific, you can sign up here.