Fintech / Startup News April 7 – 2020

Fintech / Startup News for April 7, 2020

A weekly update of some of the news that I found to be relevant to the Fintech and Startup world.

The News:

The COVID-19 Pandemic has brought to a halt many investments. Fintechs and startups are facing layoffs and a long recession seems unavoidable. But eventually, we will come out of it. In the meantime, here’s a recap of some of the most important news of the week.

• Coronavirus Throws Deal Making Into Disarray:
  • Corporate deal-making, prone to unexpected twists and turns in the best of times, has been upended by the coronavirus pandemic.
• Fintechs have a role to play in helping users stay home
• Xerox is dropping its $30 billion hostile takeover bid for HP
• The future of remote work in Latin America
• ZipRecruiter just laid off hundreds only days after the CEO said the economy was headed for a steep increase in hiring after the end of the coronavirus
• There is one great equalizer for challenger and neo-banks in Mexico
• Apple’s Dark Sky acquisition could be bad news for indie weather apps
  • With its purchase of Dark Sky, Apple is cutting off a major source of inexpensive, hyperlocal weather data for other apps.
• A software school wants to hack Latam’s educational system
• A Slack investor predicts that any productivity startup that doesn’t become a ‘daily use tool’ won’t have the ‘engagement’ to survive whatever comes next in the market
• Need groceries delivered? This ride-hailing app can help
• SoftBank Withdraws $3B Tender Offer For WeWork Shares 
• Grow Mobility conflict with laid-off Grin workers, negotiations collapse
• Thumbtack Lays Off 250 Amid ‘Dramatically’ Declining Revenue Due To COVID-19 Pandemic
• Laid-off workers occupy Grin’s scooter warehouse in Mexico City, Covid-19 to blame says Grow
• Via Raises $200M In EXOR-Led Series E, Reaches $2.25B Valuation
• Closing The Gap Between Classrooms And Students, ClassDojo Sees Skyrocketing Usage
• Insight Partners Closes $9.5B Growth Equity Fund XI, Its Biggest To Date
• Forgivable Loan Apps Start Today And Will Be Big For Startups Facing COVID-19 Disruptions
• Airbnb raises $1B from private equity
• 11 fintech investors share advice they are giving startups to help them get through a market downturn and funding drought. ‘This doesn’t measure 10 times and cut once. This just makes the cut.’
• Quibi launches its mobile streaming service in the middle of the quarantine era – TechCrunch
• Zoom’s Encryption Is “Not Suited for Secrets” and Has Surprising Links to China, Researchers Discover

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