Daily Crunch: Uber might lose out on acquiring Grubhub

Anthony Ha

Uber stocks tumble after reports that it will lose out on acquiring Grubhub, Reddit appoints a new board member and Republican senators question the legal protections of large social media platforms.

Here's your Daily Crunch for June 10, 2020.

1. Uber shares tumble 5% as reports indicate it will lose Grubhub deal to European rival

Reports this morning indicate that Uber, the American ride-hailing giant with a global footprint, will lose out on its attempt to buy Grubhub, an American food ordering and delivery service.

Instead, Grubhub might be acquired by European-rival Just Eat Takeaway. The Wall Street Journal broke the difficult news for Uber. The company's shares are off nearly 5% today after the news, while Lyft, its local rival in ride-hailing, is off a more modest 2.5%.

2. Reddit names YC’s Michael Seibel to board, following co-founder Alexis Ohanian’s exit

In his resignation letter, co-founder Alexis Ohanian asked Reddit to replace his role with a black board member. Today, the site announced the appointment of Y Combinator CEO Michael Seibel to its board. Seibel became YC's first black partner in 2014, before ascending to chief executive.

3. Republican senators ask FCC to examine Section 230, following Trump order

A recent executive order from the Trump administration seeks to strip away key protections under Section 230 of the Communications Decency Act. Yesterday, four Republican senators sent an open letter to the FCC, urging chairman Ajit Pai to examine the “special status” afforded to social media sites under the statute.

4. NS8 raises $123M led by Lightspeed for its suite of online fraud prevention tools

NS8 is a Las Vegas-based startup that provides tools to prevent fraud within e-commerce marketplaces, online merchants, payments gateways and ticketing services.

5. What to consider before publishing your diversity memo

Over the past few weeks, several venture capital firms have published different variations of the same pledge: we’ll do a better job supporting the Black community. My colleague Natasha Mascarenhas argues that there's no need to applaud firms for taking long overdue steps to treat others equally. What is more important is how we’re going to hold these firms accountable going forward, after a history of inaction. (Extra Crunch membership required.)

6. Nikola Motor to open pre-orders for fuel cell pickup truck to compete with Ford, Tesla

Nikola Motor Company, the Arizona startup that made its debut as a publicly traded company June 4, will open reservations later this month for a hydrogen fuel cell electric pickup truck that was designed to compete with the Ford F-150.

7. IBM Cloud suffers prolonged outage

The IBM Cloud suffered a major outage yesterday. And with that, multiple services that are hosted on the platform are also down, including everybody’s favorite tech news aggregator, Techmeme.

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.

More From

  • ClassPass co-founder Sanjiv Sanghavi joins Arcadia, bringing consumer marketing savvy to clean energy

    "Helping navigate the elusiveness of product market fit" is how Sanjiv Sanghavi, the co-founder of ClassPass and itinerant startup executive describes his roles at different companies. From ClassPass through Knotel, Sanghavi has shepherded several businesses to growth and over a billion dollar valuations, now he's looking to bring that branding and marketing savvy to the world of renewable energy as the new chief product officer at Arcadia. The company encourages renewable energy development by offsetting its customers' electricity usage by buying an equivalent amount of renewable power or investing in renewable energy projects that provide renewable credits to offset fossil fuel usage.

  • OpenCV AI Kit aims to do for computer vision what Raspberry Pi did for hobbyist hardware

    A new gadget called the OpenCV AI Kit, or OAK, looks to replicate the success of Raspberry Pi and other minimal computing solutions, but for the growing fields of computer vision and 3D perception. The OAK devices use their cameras and onboard AI chip to perform a number of computer vision tasks, like identifying objects, counting people, finding distances to and between things in frame, and more. Having a reliable, low cost, low power draw computer vision unit like this is a great boon for anyone looking to build a smart device or robot that might have otherwise required several and discrete cameras and other chips (not to mention quite a bit of fiddling with software).

  • Announcing The TechCrunch List, a founder-friendly directory of first check and lead VCs

    Nothing is more important for founders than finding their first check or the investor who will lead their round, and yet, finding the right VCs to invest in their startups is an arduous and agonizing prospect. Who really is willing to lead a round before any other investors commit? Here at TechCrunch, it’s one of the most common questions founders ask us, and also one of the most challenging questions to answer.

  • Identity platform Auth0 raises $120M Series F funding round at $1.92B valuation

    Developer-centric identity platform Auth0 today announced that it has raised a $120 million Series F round led by Salesforce Ventures. Existing investors Bessemer Venture Partners, Sapphire Ventures, Meritech Capital, World Innovation Lab, Trinity Ventures, Telstra Ventures and K9 Ventures also participated in this round, as well as new investor DTCP. Auth0's marquee customers include the likes of Atlassian, AMD and Autotrader.