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Daily Crunch: Apple and Google block banned apps in India


Daily Crunch: Apple and Google block banned apps in India – TechCrunch

Banned Chinese apps are beginning to disappear from India’s app stores, Palantir is raising more funding and Venmo starts testing Business Profiles.

Here’s your Daily Crunch for July 2, 2020.

1. Apple and Google block dozens of Chinese apps in India

Two days after India blocked 59 apps developed by Chinese firms, Google and Apple have started to comply with the government’s order and are preventing users in the world’s second-largest internet market from accessing those apps.

UC Browser, Shareit, Club Factory and other apps are no longer listed on Apple’s App Store and Google Play Store. In a statement, a Google spokesperson said that the company had “temporarily blocked access to the apps”on Google Play Store as it reviews the order.

2. SEC filing indicates big data provider Palantir is raising $961M, $550M of it already secured

Palantir, the controversial and secretive big data and analytics provider, has reportedly been eyeing up a public listing this autumn. But in the meantime it’s also continuing to push ahead in the private markets.

3. Venmo begins piloting ‘Business Profiles’ for small sellers

Business Profiles offer small sellers and other sole proprietors the opportunity to have a more professional profile page on its platform. Sellers can share key business details like address, phone number, email, website and more.

4. Tesla delivered 90,650 vehicles in second quarter, a smaller than expected decline

Tesla said Thursday that it delivered 90,650 vehicles in the second quarter, a 4.8% decline from the same period last year, prompted by challenges caused by the COVID-19 pandemic — like suspending production for weeks at its main U.S. factory. But the company still managed to beat expectations despite the headwinds.

5. Top LA investors discuss the city’s post-COVID-19 prospects

From larger fund investors like Mark Suster and Kara Nortman at Upfront Ventures to Dana Settle at Greycroft Partners; to early-stage investors like Will Hsu at Mucker Capital; TX Zhuo at Fika Ventures, the responses were generally upbeat about the future opportunities for Los Angeles startups. (Extra Crunch membership required.)

6. Dish closes Boost Mobile purchase, following T-Mobile/Sprint merger

T-Mobile today announced that it has closed a deal that divests Sprint’s pre-paid businesses, including Boost and Virgin Mobile. The whole thing was a key part of T-Mobile’s bid to merge with Sprint.

7. AR 1.0 is dead: Here’s what it got wrong

Many AR startups made huge promises and raised huge amounts of capital before flaring out in a similarly dramatic fashion. Lucas Matney argues that a key error was thinking that an AR glasses company should be hardware-first, when the reality is that the missing value is almost entirely centered on first-party software experiences. (Extra Crunch membership required.)

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here.

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do investors bidding up tech shares know that the rest of us don’t?”,”content”:{“rendered”:”

The biggest story to come out of the post-March stock market boom has been explosive growth in the value of technology shares. Software companies in particular have seen their fortunes recover; since March lows, public software companies’ valuations have more than doubled, according to one basket of SaaS and cloud stocks compiled by a Silicon Valley venture capital firm.n

Such gains are good news for startups of all sizes. For later-stage upstarts, software share appreciation helps provide a welcoming public market for exits. And, strong public valuations can help guide private dollars into related startups, keeping the capital flowing.n


n

The Exchange explores startups, markets and money. You can read it every morning on Extra Crunch, and now you can receive it in your inbox. Sign up for The Exchange newsletter, which drops every Friday starting July 24.n


n

For software-focused startup companies, especially those pursuing recurring revenue models like SaaS, it’s a surprisingly good time to be alive.n

""Indeed, after COVID-19 hit the United States, layoffs and rising software sales churn were key, worrying indicators coming out of startup-land. Since then, the data has turned around.n

As TechCrunch reported in June, startup layoffs have declined and software churn has recovered to the point that business and enterprise-focused SaaS companies are on the bounce.n

But instead of merely recovering to near pre-COVID levels, software stocks have continued to rise. Indeed, the Bessemer Cloud Index (EMCLOUD), which tracks SaaS firms, has set an array of all-time highs in recent weeks.n

There’s some logic to the rally. After speaking to venture capitalists over the past few weeks, notes from EQT Ventures‘ Alastair Mitchell, Sapphire’s Jai Das, and Shomik Ghosh from Boldstart Ventures paint the picture of a possibly accelerating digital transformation for some software companies, nudged forward by COVID-19 and its related impacts.n

The result of the trend may be that the total addressable market (TAM) for software itself is larger than previously anticipated. Larger TAM could mean bigger future sales for and more substantial future cash flows for some software companies. This argument helps explain part of the market’s present-day enthusiasm for public tech equities, and especially the shares of software companies.n

We won’t be able explain every point that Nasdaq has gained. But the TAM argument is worth understanding if we want to grok a good portion of the optimism that is helping drive tech valuations, both private and public.



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