Under Armour provides up on certainly one of its massive acquisitions, Uber Eats faces complaints over its free supply coverage for Black eating places and Fb takes one other step to restrict QAnon-related content material. That is your Day by day Crunch for October 30, 2020.
The large story: Underneath Armour is promoting MyFitnessPal
5 years after Underneath Armour acquired MyFitnessPal for $475 million, it’s selling the diet- and exercise-tracking app to funding agency Francisco Companions for $345 million. It’s additionally shutting down the Endomondo platform, which it acquired on the identical time.
Underneath Armour says it’s making these strikes in order that it could actually focus its model on its “goal client – the Targeted Performer.” Nevertheless, the diminished value instructed there could also be extra occurring right here, maybe the enterprise doubtless struggling as corporations like Peloton and Apple (with its upcoming Health+ service) hog the highlight within the informal health class.
It’s additionally value noting that Underneath Armour isn’t utterly giving up on digital merchandise — it’s going to proceed working the MapMyFitness platform, together with MapMyRun and MapMyRide.
The tech giants
Uber Eats faces discrimination allegations over free delivery from Black-owned restaurants — Uber says it has acquired greater than 8,500 calls for for arbitration because of it ditching supply charges for some Black-owned eating places by way of Uber Eats.
Facebook is limiting distribution of ‘save our children’ hashtag over QAnon ties — Over the previous a number of months, these phrases have supplied a sort of innocuous cowl for the favored on-line conspiracy concept.
Reliance Jio Platforms tops 400M subscribers, explores expanding services outside of India — The Fb- and Google-backed telecom operator mentioned its funds have improved, regardless of the pandemic.
Startups, funding and enterprise capital
Daimler invests in lidar company Luminar in push to bring autonomous trucks to highways — Luminar can even turn into a publicly traded firm via its merger with particular objective acquisition firm Gores Metropoulos.
Nestlé acquires healthy meal startup Freshly for up to $1.5B — Based in 2015, Freshly is a New York Metropolis-based startup that delivers wholesome meals to your house in weekly orders, which may then be ready in a couple of minutes by way of microwave or oven.
B8ta remains bullish on IRL shopping with new acquisition — B8ta affords shelf house to distinctive digital merchandise.
Recommendation and evaluation from Further Crunch
New GV partner Terri Burns has a simple investment thesis: Gen Z — Burns is the agency’s youngest associate and the primary Black girl to carry the function.
Is the Great 2020 Tech Rally slowing? — What occurs if COVID-19, unrest and hyped valuations collide?
(Reminder: Further Crunch is our membership program, which goals to democratize details about startups. You can sign up here.)
All the pieces else
Teachers are leaving schools. Will they come to startups next? — Trainer departures are a loss for public colleges, however a possibility for startups racing to win a share of the altering trainer economic system.
Big tech’s ‘blackbox’ algorithms face regulatory oversight under EU plan — Main web platforms might be required to open up their algorithms to regulatory oversight below proposals European lawmakers are set to introduce subsequent month.
AOL founder Steve Case, involved early in Section 230, says it’s time to change it — “Having extra of a dialogue between the innovators and the policymakers is definitely going to be important on this web third wave,” Case instructed us.
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