OpenAI closes its monster $10B funding round at $27B-29B valuation

OpenAI, the startup behind the widely used conversational AI model ChatGPT, has closed its new funding round of over $10.3 billion, TechCrunch has learned. VC firms including Tiger Global, Sequoia Capital, Andreessen Horowitz, Thrive and K2 Global are in the round, according to documents seen by TechCrunch. A source tells us Founders Fund is also […]

OpenAI closes its monster $10B funding round at $27B-29B valuation by Jagmeet Singh originally published on TechCrunch

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EV owners in Texas face $200 annual fee

States have taxed motorists at the pump for more than a century. Yet, as electric cars gain ground, what happens when folks stop refueling altogether? State lawmakers are increasingly imposing annual fees on EV owners, arguing they should pay up because they still rely on public infrastructure to get around. Texas is on track to […]

EV owners in Texas face $200 annual fee by Harri Weber originally published on TechCrunch

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Daily Crunch: First Republic Bank stock reaches record low as feds discuss rescue plan

Hello, friends, and welcome to Daily Crunch, bringing you the most important startup, tech and venture capital news in a single package.

Daily Crunch: First Republic Bank stock reaches record low as feds discuss rescue plan by Christine Hall originally published on TechCrunch

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TechCrunch+ roundup: Customer personas, content that resonates, efficiency metrics VCs love

Reducing CAC Payback and following the Rule of 40 is proof that a founding team knows how to move directionally. Investors love that.

TechCrunch+ roundup: Customer personas, content that resonates, efficiency metrics VCs love by Walter Thompson originally published on TechCrunch

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After initially defying the global slowdown, African startups’ first quarter venture results fall

Let’s talk venture results, unique issues to the African startup scene, and look ahead to see if we can spy any good news on the horizon.

After initially defying the global slowdown, African startups’ first quarter venture results fall by Anna Heim originally published on TechCrunch

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Shares of First Republic are off 40% on reports that the government may step in

There is no clear indication yet that that is new de facto policy, or that First Republic customers will enjoy similar protections.

Shares of First Republic are off 40% on reports that the government may step in by Alex Wilhelm originally published on TechCrunch

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How Jack Dorsey’s Bitcoin Legal Defense Fund is fighting for the future of open source software

A crypto wallet theft lawsuit brought about by a man who claims to be Bitcoin creator Satoshi Nakamoto could jeopardise the future of open source software development. That’s according to the Jack Dorsey-backed Bitcoin Legal Defense Fund which is taking on a case to defend 11 Bitcoin developers named in a lawsuit filed by Craig […]

How Jack Dorsey’s Bitcoin Legal Defense Fund is fighting for the future of open source software by Paul Sawers originally published on TechCrunch

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Critical-rated security flaw in Illumina DNA sequencing tech exposes patient data

The U.S. government has sounded the alarm about a critical software vulnerability found in genomics giant Illumina’s DNA sequencing devices, which hackers can exploit to modify or steal patients’ sensitive medical data. In separate advisories released on Thursday, U.S. cybersecurity agency CISA and the U.S. Food and Drug Administration warned that the security flaw — […]

Critical-rated security flaw in Illumina DNA sequencing tech exposes patient data by Carly Page originally published on TechCrunch

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Brett Harrison ‘never lost faith in the business’ while at now-shuttered FTX

At Consensus 2023, Anthony Scaramucci and Brett Harrison shared their experiences during FTX’s downfall and what life has been like since. Brett Harrison ‘never lost faith in the business’ while at now-shuttered FTX by Jacquelyn Melinek originally published on TechCrunch
http://dlvr.it/SnC7Y1

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Muslims come into the frame in Southeast Asia’s fintech boom

Founded in 2014, Blossom Finance was first intended for Muslim entrepreneurs in the United States. The microfinancing platform connects investors with small businesses using mudarabah, a shariah-compliant profit-sharing agreement. But founder Matthew Joseph Martin soon realized that the startup, backed by investors like Boost VC and Tim Draper, was serving a relatively niche market in […]

Muslims come into the frame in Southeast Asia’s fintech boom by Catherine Shu originally published on TechCrunch

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Snap stock down 24% on weak earnings, ad revenue slump

Snap, the parent company of Snapchat, has seen its stock tumble 20% in after-hours trading after reporting first-quarter earnings Thursday. The company missed Wall Street revenue estimates of $1 billion, closing out the quarter with $989 million. That’s down 7% from the same period last year, and it represents the first time since Snap went […]

Snap stock down 24% on weak earnings, ad revenue slump by Rebecca Bellan originally published on TechCrunch

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Clubhouse needs to fix things, and today it cut more than half of staff

Clubhouse, a once skyrocketing social audio app built by Paul Davison and Rohan Seth, has laid off more than half of its staff. The startup’s co-founders made the decision in response to customer habits changing in a post-COVID world and remote work complexities, according to a blog post. Those who were impacted will receive severance […]

Clubhouse needs to fix things, and today it cut more than half of staff by Natasha Mascarenhas originally published on TechCrunch

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Daily Crunch: Citing slow growth and desire to be ‘at the forefront of the AI era,’ Dropbox CEO lays off 500

Hello, friends, and welcome to Daily Crunch, bringing you the most important startup, tech and venture capital news in a single package.

Daily Crunch: Citing slow growth and desire to be ‘at the forefront of the AI era,’ Dropbox CEO lays off 500 by Christine Hall originally published on TechCrunch

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Researchers develop tiny hydraulic haptics for touchscreen notifications you can physically feel

If you find smartphone notifications annoying enough already thanks to their skill at exploiting the full range of distraction options available, whether dropping a banner from above or sprinkling pox-like red balls over your homescreen icons so as to lodge like grit in the eye, you should prepare yourself for even less subtle demands bubbling […]

Researchers develop tiny hydraulic haptics for touchscreen notifications you can physically feel by Natasha Lomas originally published on TechCrunch

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Meta updates its avatars with new body shapes, hair and clothing

Meta announced today that it’s introducing new body shapes, improved hair and clothing textures to its avatars. The company also announced that more than one billion avatars have been created across its platforms. Starting this month, users will be able to choose from a wider range of body shape options, including two curvier body shapes. […]

Meta updates its avatars with new body shapes, hair and clothing by Aisha Malik originally published on TechCrunch

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