Quibi is closing – TechCrunch | Instant News

Coming to an end among them, PayPal added cryptocurrency support, and Netflix tested a new promotional strategy. This is your daily breakfast on October 21, 2020.

Big story: Quibi is closing

A streaming video application led by Jeffrey Katzenberg and Meg Whitman, the company raised nearly $2 billion in funding, Shutdown, According to reports Information with Wall Street Journal.

Longtime Hollywood executive Katzenberg (Katzenberg) Blaming the coronavirus pandemic It is planned to launch in May, but the market is flat-when people stay at home most of the time, an app designed for mobile viewing is not very attractive. Regardless of the reason, Quibi’s performance did not become a hit single.

Quibi executives confirmed the news In a post on Medium.

Tech giants

PayPal allows you to buy and sell cryptocurrencies in the United States —In cooperation with Paxos, PayPal plans to support Bitcoin, Ethereum, Bitcoin Cash and Litecoin first.

Facebook is developing neighborhood communities, which is a clone of Nextdoor based on local groups — Facebook said that “neighbors” currently only live in Calgary, Canada.

Netflix will test free one-week free access in India —The streaming service recently stopped providing one month of free access to new users in the United States.

Start-ups, capital and venture capital

E-commerce visual search platform Syte received US$30 million in Series C financing for expansion in the United States and Asia — Syte’s technology was launched in 2015, focusing on visual search for clothing, and now covers other vertical industries such as jewelry and home decoration.

Pre-orders for the third-generation smart oven in June start at $599 — Two years have passed since the last major update of the smart oven.

Mine raises $9.5 million to help people control their personal data — Mine scans users’ inboxes to help them understand who has access to their personal data.

Advice and analysis from Extra Crunch

Founders don’t need to start raising venture capital full-time — John Vrionis and Sarah Leary of Unusual Ventures told us that in the early days of the company’s establishment, lightweight investment was crucial.

Dear Sophie: What are the visa options for graduates to co-found a startup company? —The latest edition of the column by Sophie Alcorn, an immigration lawyer, answers immigration-related questions about working in a technology company.

Lessons from Datto IPO pricing and earnings multiples —What do you think of slower and more profitable software growth?

(Reminder: Extra Crunch is our membership program designed to democratize information about startups. You can register here)

Everything else

Sam Club will deploy automated floor scrubbing robots at all of its U.S. locations — Wal-Mart, the parent company of Sam’s Club, is already using robotics to store inventory in its own stores.

AOC’s “Audience Among Us” stream attracted 435,000 concurrent viewers simultaneously —The purpose of events that attract a large number of people is to stand out when we enter the general election.

App Fairness Alliance, a group striving for app store reform, adds 20 new partners —The alliance claims that both Apple and Google are engaged in anti-competitive behavior.

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