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Tech CEOs are facing the congress – TechCrunch



American technology giants are under antitrust review, Spotify has a mixed quarter, and home fitness startup Tempo is raising funds. This is your daily crisis for July 29th, 2020.

The big story: Tech CEOs are facing the congress

Amazon Jeff Bezos, Tim Cook from Apple, Facebook Mark Zuckerberg and Google’s Sundar Pichai appeared from afar this afternoon before the House’s Subcommittee on Antitrust.

Different representatives seemed to be focusing on very different issues: the Republicans repeatedly returned to the question of whether the major technology platforms were suppressing conservative positions, while the Democrats appeared to be more concerned about potentially anti-competitive behavior.

For example, citing the newly exposed email that Zuckerberg sent to other Facebook executives, Rep. Jerry Nadler said, “Facebook saw Instagram as a powerful threat that could distract Facebook̵

7;s business from buying it instead of Facebook to compete with him. ”And Rep. Val Demings (like Nadler, a Democrat) suggested that Google was responsible for” effectively destroying anonymity on the Internet. “

The technology giants

Spotify users are streaming again, but advertising revenue is still suffering from the COVID crisis. In its latest earnings report, Spotify said it increased active monthly users by 29% to 299 million.

Google One now offers free phone backups up to 15 GB for Android and iOS – Google One of them is Google’s subscription program for buying additional storage and live support. It is being updated.

Samsung is reportedly considering a Google deal that would disadvantage Bixby, according to Reuters.

Startups, funding and venture capital

Mirror competitor Tempo collects $ 60 million for Series B – The news comes almost exactly a month after Mirror, one of the San Francisco-based company’s main competitors, was acquired by fitness brand Lululemon for $ 500 million.

According to the money transfer business, the money transfer business has increased $ 85 million at a valuation of $ 1.5 billion – CEO Matt Oppenheimer told us that customer growth has increased by 200% compared to the previous year.

Joymode, the consumer goods rental service in LA, sells to investment firm XRC Labs in New York. Joymode founder Joe Fernandez will continue to act as a consultant to the startup to focus its business on retail partnerships.

Advice and analysis of extra crunch

How to plan your Series A fundraiser – At our early stage event last week, Jake Saper of Emergence Capital said that it requires a micro and macro level strategy to find the right time for the fundraiser.

Investments in AI startups fall to a three-year low – A new report from CB Insights shows historically strong but falling investment rates for AI startups.

Where is Voice Tech going? – One of the greatest stories in emerging technology is the growth of different types of voice assistants.

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

Everything else

Walmart starts its own language assistant “Ask Sam”, which is initially used for employees. This tool allows Walmart employees to look up prices, access business cards, find products, view sales information, check email, and more.

The Hummer EV is evolving from an electrical response from GM to the Ford Bronco and Tesla Cybertruck – GM has just taken its first look at the vehicle that was announced in the Super Bowl before COVID.

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