Author: TechBrunch

Swiggy will sell more than 75 people as part of its $1.35 billion initial public offering, as Indian food delivery and quick commerce startups prepare for the country's second-largest public offering of the year next week. It has raised approximately $606 million from major investors. The Bangalore-based startup is seeking a $11.3 billion valuation in its IPO and received bids worth $15 billion for the $600 million portion. Indian institutional investors received about 56% of the total anchor allocation, sources said. Eight of the top 10 mutual funds in India have invested in anchor rounds. Major investors include BlackRock, Fidelity,…

Google has confirmed plans to require all Google Cloud customers to use multi-factor authentication (MFA). The process begins this month and will embed prompts and “helpful reminders” within the Google Cloud console before it goes into effect in stages starting in the new year. year. The internet and cloud giant quietly announced its MFA plans in a document published in October, but Mayank Upadhyay, the company's vice president of engineering, formally announced it in a blog post this week. “We plan to implement mandatory MFA in Google Cloud in a phased approach and roll it out to all users globally…

The tech layoff wave is still going strong in 2024. Following significant workforce reductions in 2022 and 2023, this year has more than 130,000 job cuts across 457 companies, according to independent layoffs tracker Layoffs.fyi. Companies like Tesla, Amazon, Google, TikTok, Snap and Microsoft have conducted sizable layoffs in the first months of 2024. Smaller-sized startups have also seen a fair amount of cuts, and in some cases, have shut down operations altogether. By tracking these layoffs, we’re able to understand the impact on innovation across companies large and small. We’re also able to see the potential impact of businesses…

A hacker suspected of being involved in a series of major Snowflake-related hacks has been arrested in Canada, according to local authorities. “At the request of the United States, Alexander Mouka (also known as Connor Mouka) was arrested on a preliminary arrest warrant on Wednesday, October 30, 2024,” Ian McLeod, a spokesperson for Canada's Department of Justice, told TechCrunch in an email. “It was done,” he said. Over several months, hackers stole internal data from dozens of companies, including AT&T, Ticketmaster, Advanced Auto Parts, and about 165 other business customers of Snowflake, which provides cloud services and data analytics to…

Two of Europe's oldest names in the world of print-on-demand are merging, but you may not even realize they're two different companies in the first place. Printful and Printify, both startups with roots in Latvia and offering custom printing services, will be combined as one company. They frame this move as a given to unlock greater economies of scale, efficiency, and profitability. But reading between the lines also highlights the struggles that on-demand manufacturing and creator economy startups face as a single company. Financing for late-stage startups has become particularly difficult in Europe in recent years, and 2025 looks set…

DeepRoute.ai, a Shenzhen-based self-driving technology startup, has raised $100 million from Great Wall Motors. Reuters reports that the company aims to install its self-driving system in as many vehicles as possible in China before Tesla's widespread adoption next year. Deeproot has not disclosed the names of the automakers it supports, but Chinese media reports, including press releases, have pointed to Great Wall Motors. The company is one of China's largest automakers, with sales of 970,612 new cars in the first 10 months of this year. GWM is collaborating with BMW to produce the next mini EV hatchback, and its presence…

VC Renata Quintini, co-founder of early-stage VC Renegade Partners, said on stage at TechCrunch Disrupt last week that 2025 funding will continue to be a “tale of two cities.” “While some companies do have the promise of going after large, rapidly growing markets, [will be] It's gaining a lot of funding and momentum. But on the other hand, Quintini warned that “companies that need to build real businesses and efficient businesses” will struggle to raise capital. She is referring to the tight funding market faced by startups in an era of high interest rates. In 2023, around 3,200 startups died…

Flash, a payment management service that tracks all your online purchases, announced its entry into the U.S. market on Tuesday, giving U.S. customers the ability to manage all their spending in one place while offering perks like gift cards and cashback. can now also be obtained. The US has many high-spending consumers, making it a strategic choice to launch the app here. The Department of Commerce's Census Bureau estimates that U.S. online shopping brought in approximately $291.6 billion in the second quarter of 2024. We estimate that total retail sales will reach approximately $1.8 trillion. Projections for the global e-commerce…

Most AI benchmarks don't tell you much. They ask questions that can be solved by rote memorization, or cover topics that are irrelevant to the majority of users. That's why some AI enthusiasts are turning to games as a way to test an AI's problem-solving skills. Freelance AI developer Paul Calcraft built an app that allows two AI models to play a Pictionary-like game with each other. One model doodles and the other model tries to guess what the doodle represents. “I thought this looked like a lot of fun and could be interesting from a model functionality standpoint,” Calcraft…

“Move carefully and be on the red team” is unfortunately not as catchy as “move fast and break things.” But three AI safety advocates made it clear to startup founders that moving too quickly could lead to ethical issues in the long run. “We're at a tipping point where a lot of resources are moving into this space,” said Sarah Myers West, co-executive director of the AI ​​Now Institute, on stage at TechCrunch Disrupt 2024. Rushing to bring certain products into the world without considering the traditional questions of what kind of world we really want to live in and…