Core Insights - Snap is restructuring into small "startup squads" of 10 to 15 people to enhance competitiveness against larger rivals [1] - The company is facing challenges with advertising revenue growth stagnating at 4% in Q2 and a 2% decline in North American daily active users to 98 million [1] Revenue and Growth Opportunities - Snapchat+ subscriptions are generating over $700 million in annual recurring revenue from more than 15 million paying subscribers, marking it as one of Snap's fastest-growing revenue streams [2] - Snap is investing in AR glasses, referred to as Specs, which are envisioned to replace smartphones, indicating a significant shift towards human-centered computing [2] Market Valuation and Stock Performance - The current stock price reflects skepticism, but there is potential for "startup-style return" at Snap's valuation of approximately $12 billion, which is a 90% decrease from its peak market cap of $116 billion in September 2021 [2]

Core Insights - The cybersecurity sector is experiencing a trend where startups are more likely to be acquired rather than going public, as evidenced by Wiz's decision to sell to Google instead of pursuing an IPO [1] - Netskope, a cloud cybersecurity platform, is set to become a public company, aiming for a valuation of up to $6.5 billion [2][3] Company Overview - Netskope is recognized as a Secure Access Service Edge (SASE) provider, offering cybersecurity solutions for cloud infrastructure, including secure web gateways and firewall as a service [6] - The company has major competitors such as Zscaler and Palo Alto Networks [6] Investment and Valuation - Lightspeed Venture Partners, a significant investor in Netskope, owns 19.3% of the company and previously held a 23.9% stake in Rubrik when it went public at a valuation of $6.6 billion [2][3] - Netskope's last valuation was $7.5 billion following a $300 million Series H funding round in 2021, and it also raised a $401 million convertible note in 2023 [6] Financial Performance - For the first half of the year, Netskope's revenue increased to $328.5 million from $251.3 million year-over-year, while its net loss narrowed to $169.5 million from $206.7 million [7] - If Netskope goes public at a valuation of $6.5 billion, it would join other VC-backed companies that debuted below their last private market valuations [7][8]

Two current and two former Meta employees disclosed documents to Congress alleging that the company may have suppressed research on children’s safety, according to a report from The Washington Post.According to their claims, Meta changed its policies around researching sensitive topics — like politics, children, gender, race, and harassment — six weeks after whistleblower Frances Haugen leaked internal documents that showed how Meta’s own research found that Instagram can damage teen girls’ mental health. T ...

Apple is hosting its “Awe dropping” hardware event tomorrow at 10 a.m. PT. The company is expected to announce its iPhone 17 lineup, which could include a slimmer version, as well as updates for the Apple Watch and AirPods. The keynote will take place at Apple Park in Cupertino. Viewers can tune in to the livestream here or watch it on Apple’s website. As usual, TechCrunch will be covering the event, so stay tuned for news.There have been numerous rumors surrounding the upcoming iPhone lineup. Taking center ...

YouTube announced on Monday that its first-ever exclusive global broadcast of an NFL game broke a record for the company, achieving the most concurrent viewers of a live stream on the platform. Over 17.3 million viewers from more than 230 countries and territories worldwide tuned in for the game between the Kansas City Chiefs and the Los Angeles Chargers in São Paulo.This figure represents the average minute audience (AMA) that watched the game last Friday. In the U.S., there were 16.2 million AMA across Yo ...

In Brief Advertising exchange PubMatic has filed a lawsuit against Google, accusing the tech giant of illegally monopolizing the ad technology market. PubMatic is seeking billions of dollars in damages, according a report from Bloomberg.The lawsuit marks the second time that an advertising exchange has sued Google since a federal judge ruled in April that the search giant had illegally monopolized ad exchanges and ad servers. The judge has set another trial for this month to determine whether Google should ...

Core Insights - Uber and Momenta plan to test robotaxis in Munich, Germany starting in 2026, marking the first continental European city for this initiative [1][6] - The partnership was first announced in May 2025, with initial operations involving human safety operators onboard [1][2] - Momenta is a significant player in China's autonomous vehicle market, having tested self-driving cars since 2018 [2] Company Developments - Momenta has been involved in the autonomous vehicle sector since its founding in 2016 and is recognized for its competitive position in China [2] - Uber's entry into the European AV market puts it in competition with other ride-hailing companies, such as Lyft, which has partnered with Baidu for robotaxi deployment [2] - Uber has established partnerships with 20 global AV companies, generating an annualized rate of 1.5 million mobility and delivery trips [3] Market Expansion - Uber's international strategy includes partnerships with Chinese AV startups like WeRide and Pony.ai for robotaxi services in the Middle East [4] - Current AV services are offered in Abu Dhabi and Riyadh, with plans to expand to Dubai [4] - Uber and Wayve are also planning public road trials of Level 4 AVs in London [4] Technical and Regulatory Aspects - Munich was chosen for its engineering heritage and strong automotive ecosystem, with Uber's CEO highlighting Germany's historical significance in the automotive industry [6] - Momenta's robotaxi deployment in Europe will require certification from German regulators, including safety standards and geo-fenced area approvals [7][8] - Momenta is also developing advanced driver assistance systems (ADAS) in collaboration with major German automakers, with ADAS already installed on 400,000 vehicles [9]

Core Insights - Supernal, Hyundai's electric air taxi startup, has paused its aircraft program following significant leadership changes and staff reductions [1][3][5] - The company had recently conducted its first test flight but was still working towards its first untethered test flight before the pause [2][4] - The departure of CEO Jaiwon Shin and CTO David McBride has raised concerns about the startup's future and its planned commercial service launch in 2028 [3][4][8] Company Developments - Supernal's leadership transition includes David Rottblatt, who is currently overseeing business operations as Interim COO [6] - The company plans to appoint new leadership with expertise in business operations to advance Urban Air Mobility (UAM) solutions [6] - The startup had previously laid off dozens of employees and closed its Washington, D.C. headquarters, indicating ongoing operational challenges [5] Industry Context - The electric air taxi industry is experiencing significant upheaval, with some startups like Joby making progress while others, such as Lillium, have ceased operations [4] - Supernal's struggles mirror those of other Hyundai-backed ventures, such as Motional, which faced major restructuring and layoffs after losing funding from a partner [9][10]

Core Insights - Microsoft reported that clients using its Azure cloud platform may face increased latency due to multiple undersea cables being cut in the Red Sea [1] - The affected traffic primarily involves routes through the Middle East or those ending in Asia or Europe [1] Company Response - Microsoft stated that undersea fiber cuts can take time to repair and that they will continuously monitor, rebalance, and optimize routing to minimize customer impact during this period [2] - By Saturday evening, Microsoft indicated that it was no longer detecting any issues with Azure services [2]

Group 1: Antitrust Fine and Violations - The European Commission has fined Google €2.95 billion (approximately $3.5 billion) for violating EU antitrust rules by favoring its own advertising services [1] - The commission found that Google "abused" its "dominant positions" by prioritizing its ad exchange AdX in both its publisher ad server and ad-buying tools [1][2] - This fine is the second largest antitrust fine in the EU's history, following a $5 billion fine against Google in 2018 [3] Group 2: Response and Future Actions - Google has 60 days to end its self-preferencing practices and implement measures to address conflicts of interest in the adtech supply chain [2] - A Google spokesperson stated that the company would appeal the commission's decision, arguing that there is nothing anticompetitive about its services [2] - U.S. President Donald Trump criticized the fine, highlighting concerns over penalties against American tech companies [3][4] Group 3: Related Developments in the U.S. - In a separate development, Google achieved an antitrust victory in the U.S., where a federal judge's ruling on its monopoly in online search did not align with the Justice Department's proposals for more severe remedies [6]