Box gets financial ammunition against activist investor, Samsung launches Galaxy SmartTag + and we look at the story of CryptoPunks. This is your Daily Crunch for April 8, 2021.
The big story: KKR invests $ 500 million in Box
Private equity firm KKR to invest in Box which is expected to help cloud content management firm buy back shares of activist investor Starboard Value, which could otherwise have claimed the majority of board seats and forced a sale .
After the investment, Aaron Levie will remain with Box as CEO, but Bethany Mayer, an independent board member, will become its chair, while KKR’s John Park will also join the board.
“KKR’s move is possibly the most important strategic move Box has made since its IPO,” said Alan Pelz-Sharpe of Deep Analysis. “KKR isn’t just bringing a lot of money to the deal, it gives Box the ability to get rid of some naysayers and invest in new acquisitions.”
The giants of technology
Samsung’s AirTags rival, the Galaxy SmartTag +, arrives to help you find lost items via AR – This is a version of Samsung’s lost item finder that supports technology Bluetooth Low Energy and ultra-wideband.
Spotify remains silent on the launch of its “Hey Spotify” voice command on mobile – Access to the “Hey Spotify” voice function is being rolled out more widely, but Spotify is officially silent.
Verizon and Honda aim to use 5G and advanced computing to make driving safer – The two companies are testing different safety scenarios at the University of Michigan at Mcity, a test bed for connected and autonomous vehicles.
Startups, financing and venture capital
Norwegian Kolonial renamed Oda, pockets $ 265 million on a valuation of $ 900 million to expand its online grocery delivery business in Europe – Oda’s goal is to provide “a weekly shop” at great prices that rival those of traditional supermarkets.
Tines Raises $ 26 Million Series B For Its Codeless Security Automation Platform – Tines co-founders Eoin Hinchy and Thomas Kinsella both held security positions at DocuSign before leaving to create their own business in 2018.
Yext co-founder unveils Dynascore, which dynamically synchronizes music and video – the first product from Howard Lerman’s new startup, Wonder Inventions.
Advice and analysis from Extra Crunch
Four Strategies to Get Investor’s Attention – MaC Venture Capital Founder Marlon Nichols joined us at TechCrunch Early Stage to discuss his early-stage investing strategies and how these lessons can translate into a successful launch for budding entrepreneurs.
How to Get Into a Startup Accelerator – Neal Sáles-Griffin, Managing Director of Techstars Chicago, explains when and how to apply for a Startup Accelerator.
Understand how fundraising conditions can affect start-ups – Fenwick & West partner Dawn Belt breaks down some of the conditions that stumble new entrepreneurs.
(Extra Crunch is our membership program, which helps founders and startup teams grow. You can sign up here.)
Cult of CryptoPunks – Ethereum’s “Oldest NFT Project” may not be the first, but it is the craziest.
Biden proposes gun control reforms to tackle ‘ghost guns’ and close loopholes – President Joe Biden has announced a new set of initiatives through which he hopes to reduce gun violence he has referred to as an “epidemic” and “international embarrassment”.
Apply for Startup Battlefield at TechCrunch Disrupt 2021 – All you need is a killer pitch, an MVP, nerves of steel and the will and determination to take on all comers to win the coveted Disrupt Cup.
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