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1/7/21: What’s Going On

Struum, General Motors and more from around the business world.
(Jonathan Weiss)
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“U.K. officials said they are preparing an antitrust investigation of Nvidia Corp.’s $40 billion deal to acquire British chip designer Arm from SoftBank Group Corp., raising one of what is likely to be several regulatory hurdles around the world for a proposed merger that could reshape the semiconductor industry. Britain’s Competition and Markets Authority said Wednesday it was inviting third parties to comment on the merger, ahead of a formal antitrust probe later this year.”

“Struum, a streaming service co-founded by former Discovery Inc. and Walt Disney Co. executives, won’t offer its own slate of original programming when it launches this spring. Instead, it will aim to give customers à-la-carte access to all content from hundreds of niche streaming services, offering users a way to stream individual shows and movies from various platforms without having to subscribe to each plan separately.”

“This morning Hopin, a quickly-growing startup that sells a technology platform for hosting digital events, announced that it has acquired StreamYard. The acquired company, which bootstrapped itself to material revenue scale, will retain its brand and in-market product. The deal is worth $250 million, paid in a mix of cash and stock.”

Companies Raising Capital
NameAmountDescription
Lacework$525 MillionCloud Security Startup
Mambu$135 MillionSaaS Platform That Powers Banking Services
Gila$78 MillionIntegrated, Hands-On, AI-Based Customer Service Platform
Too Good To Go$31 MillionFighting Food Waste
Pennylane$18.4 MillionAccounting Service Combining Automated Processes With Human Accountants

“The Trump administration made it easier for businesses to classify workers as independent contractors, a victory for gig-economy companies such as food-delivery and ride-sharing services and a counter to a California law that did the opposite.”

“General Motors Co. in 2020 dethroned rival Ford Motor Co. in Detroit’s closely watched “truck wars,” securing the top slot in the lucrative market for large pickup trucks.”

“President Trump’s latest executive order targeting Chinese tech platforms will fall to President-elect Joe Biden to enforce, or not, giving Mr. Biden a difficult political calculation to make in his first weeks in office.”

“A Dutch consumer advocacy group is suing the country’s privacy regulator over a two-year wait for action on a complaint against Google, arguing there are flaws in the European system for handling data privacy and security cases involving multinationals that operate in many countries.”

“The U.S. Justice Department has become the latest federal agency to say it was breached by hackers in the Russia-linked cyberattack that has ripped through government agencies and an unknown number of corporate networks.”

“Global food prices reached a six-year high in December and are likely to keep rising into 2021, adding to pressure on household budgets while hunger surges around the world.”

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