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Robinhood’s Big Funding Streak: The Information’s Tech Briefing

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Online trading startup Robinhood said Monday it had raised $200 million, a month after raising $320 million, which in turn was two months after it raised $280 million. With the latest funding round, Robinhood’s valuation has risen to $11.2 billion from $8.6 billion last month.

If nothing else, the company’s astonishing ability to amass so much money so fast is a testament to the current venture capital environment: The best-known startups are raising money at a rapid clip—particularly those whose businesses are doing better from Covid, as we noted in this story in June.

Source: https://www.theinformation.com/articles/robinhoods-big-funding-streak-the-informations-tech-briefing

Venture Capital

Facebook’s Oversight Board for Content Won’t Play Role in November Election

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After significant delays, the independent group Facebook created to officiate disputes about content posted by its users is ready to start hearing cases. But the group, called the Oversight Board, is launching too late to meaningfully evaluate controversial posts related to the U.S. elections on Nov. 3.

And while Facebook is giving considerable power to the entity in certain cases, the board will have a limited scope of authority to start—a far cry from CEO Mark Zuckerberg’s initial vision of creating a kind of Supreme Court to arbitrate the most contentious situations. Facebook still has wide discretion to determine which cases the board could hear, including for content that Facebook chooses not to remove. Users initially only have the ability to appeal decisions involving content that Facebook’s own moderators have already removed.

Source: https://www.theinformation.com/articles/facebooks-oversight-board-for-content-wont-play-role-in-november-election

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Private Equity

Venture Capital: T-Mobile Ventures Launches To Fund 5G Startups

T-Mobile Ventures is a venture capital fund floated by T-Mobile (NASDAQ: TMUS) to focus on early-to-mid stage startups using 5G technology for developing core technologies, products, and services around the areas of edge computing, future of work, security, and industrial IoT.

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Venture Capital: T-Mobile Ventures Launches To Fund 5G Startups

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The fund will invest in early and emerging growth companies developing transformative 5G products and services.

T-Mobile Ventures is a venture capital fund floated by T-Mobile (NASDAQ: TMUS) to focus on early-to-mid stage startups using 5G technology for developing core technologies, products, and services around the areas of edge computing, future of work, security, and industrial IoT.

T-Mobile 5G

T-Mobile’s is the first and only Standalone 5G network with a multi-band 5G strategy. The company is therefore looking for entrepreneurs developing the “next big thing” in 5G that can leverage its network and technology.

According to Barron’s, T-Mobile (TMUS) CEO Mike Sievert said at the Goldman Sachs Communacopia conference last month that the recently completed acquisition of Sprint would unleash spectrum benefits and efficiencies of scale for his company.

He also went on to give the message that the company was building the best 5G network ever. He said the competition would, effectively, be left in the dust.

He said that the 5G “experience is markedly different from what’s out there on 4G LTE today, with eight to 10 times the speed going to be available for customers with 5G phones this year.”

“That’s our opportunity in the 5G era,” he added. “We’re way out in front.”

T-Mobile is now the second-largest wireless provider in the U.S. and has 98.3 million customers including Sprint.

The venture fund

With the specific brief to fuel 5G innovation, T-Mobile Ventures will make multi-year investments in promising startups focussed on this wireless technology.

Founders will receive T-Mobile’s network and engineering expertise, go-to-market infrastructure, and investment backing.

T-Mobile Ventures has roped in corporate venture capital firm Touchdown Ventures to help manage the fund.

T-Mobile collaborates with universities and standards bodies for 5G research and development and runs the T-Mobile Accelerator. It is the co-founder of the 5G Open Innovation Lab.

“With our 5G network at the foundation, we see massive opportunity across both business and consumer segments, and we’re excited to help fuel the wave of 5G applications coming to market in the years ahead,” said Jason Young, Senior Vice President of Partnerships and T-Mobile Ventures.

“Compelling 5G use cases span the range of spectrum bands from low, mid to high, and only TMobile has these assets giving it a 5G network that can support all use cases across every industry,” said Neville Ray, President of Technology at T-Mobile. “Now is the time for the developers, entrepreneurs, and creators to make the magic happen with products and services that will unleash the potential of our 5G network.”

Related Story: Apple Invites Applications From Black Founders and Developers For Its Entrepreneur Camp

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Source: https://dailyalts.com/venture-capital-t-mobile-ventures-launches-to-fund-5g-startups/

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Venture Capital

This Year’s Biggest Tech Stock Winners

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This has been a tumultuous year for tech stocks, which as a sector have lifted the overall market’s recovery from the pandemic swoon in March. The tech stocks that have gained the most haven’t been the big companies such as Amazon, but the smaller ones in the niche businesses that are benefiting the most from the pandemic—most obviously Zoom Video, which is up a stunning 689% since the start of the year.

The list, shown in the above chart, also includes Fiverr, which connects freelancers with businesses. Fiverr is up 653%, according to FactSet. Fastly, which sells cloud-based software that speeds the loading of video and image content, is up 315%. The stock of Cloudflare, which is in a similar field, is up 234%. Most of the firms on the list offer cloud-based enterprise software, products that have gained appeal  as work has largely shifted online during the pandemic.

Source: https://www.theinformation.com/articles/this-years-biggest-tech-stock-winners

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