We are watching Rackspace finance, a Facebook code change causes many application problems and the electric vehicle company Rivian raises $ 2.5 billion. Here is your daily crisis of July 10, 2020.
The big story: Rackspace becomes public again
The cloud computing company went public in 2008, before accepting an offer of $ 4.3 billion to become private from Apollo Global Management. Rackspace says it will use the proceeds from the IPO to reduce debt.
Alex Wilhelm delved deep into Rackspace’s finances, concluding that proper valuation is a “headache”:
The company is tech savvy, which means it will find some interest. But its slow growth rate, its high debts and its gloomy margins make it difficult to set an equitable multiple.
The tech giants
New report describes potential roadmap for Apple’s ARM-based MacBook – Analyst Ming-Chi Kuo said 13.3-inch MacBook powered by Apple’s new processors will arrive in the fourth quarter of this year.
The Facebook code change caused the Spotify, Pinterest and Waze apps to crash – It seems Facebook is responsible for some of the apps that crashed this morning.
California to launch Google antitrust investigation – This makes California the 49th state to launch an antitrust investigation of the search giant, according to Politico.
Startups, financing and venture capital
Rivian raises $ 2.5 billion as it pushes to market its RT1 electric pickup, R1S SUV – The company plans to market its electric pickup and SUV, as well as its delivery vans for Amazon, in 2021 .
A glimmer of hope for the food delivery market in India as Zomato forecasts monthly spending of less than $ 1 million – “We will only lose $ 1 million this month” doesn’t seem like a huge deal success, but at least things seem to be going in the right direction 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. We talk to Fridriksson about how he did it.
Pivot COVID-19: Klook travel unicorn sees the jump in stays – With reservations for freefall overseas experiences, Klook has started to offer DIY kits for stay at home projects and is associated with emblematic sites to offer virtual tours.
Operator Collective brings diversity and inclusion to business investment – The company, founded last year, said it currently has 130 operator LPs, 90% of whom are women and 40% are people of color.
(Reminder: Extra Crunch is our subscription subscription program, which aims to democratize information on startups. You can register here.)
NASA signs agreement with Japan to cooperate between space station projects, Artemis and Lunar Gateway – Japan first expressed its intention to participate in the Lunar Gateway program in October 2019, making it one of the first countries to do so.
Equity: Silicon Valley is built on immigrant innovation – The latest episode of Equity explains how recent visa changes will affect Silicon Valley.
Five reasons to participate in TC Early Stage online – July 21 and 22! I will be there!
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