Coinbase CEO lays off 950 employees, citing ‘dishonest actors’ and market trends • TechCrunch

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Haje is still reeling from spending a week in the bowels of Las Vegas for CES 2023, but she’s grateful to be back in the Daily Crunch saddle. Let’s see what’s happening in tech land! – Christine And came

TechCrunch’s Top 3

• More layoffs at Coinbase: Coinbase said this time it will cut 20% or 950 employees and leave several projects. Manish Reports. This is the second round of layoffs at the crypto exchange in seven months after it cut nearly 1,100 jobs in June.
• First and readyAmazon is set to expand its Shop with Prime service to the US on January 31st. Sarah He wrote. Shipping with Prime is similar to Prime, but includes “seamless checkout and easy returns, allowing merchants to connect directly with customers.”
• Discussion, but in BotEveryone is chatting. How do we know? Suspicious ChatGPT apps are flooding the Apple App Store and Google Play Store. Ivan It has more.

Startups and VCs

Germany-based biotech company Biotech – one of the biggest makers of Covid-19 vaccines among others – is set to buy InstaDeep, a Tunisian-born and UK-based AI startup for £562 million (~$680 million). Biggest deal ever, take on Reports. The German vaccine maker plans to use the InstaDeep machine to “improve the drug discovery process, including personalized treatments for a patient’s cancer.”

Supermom, a parenting platform with 20 million users in six Southeast Asian countries, offers parents the opportunity to earn money by comparing prices, communities and completing surveys. Catherine Reports. It gives brands a way to conduct market research and gather first-party data, which is essential as marketers prepare for a post-cookie world.

And we have many more stories for you:

• Pay attention – on the cheap: Frederick Wise has announced the launch of its new $34 pan-and-tilt security camera.
• Like tea, but practicalRyl Co., a new “functional” tea brand, has been cashed in on $6.7 million in new funding and is making its debut at Wegmans and Whole Foods. Christine Reports.
• Heat recycling: Servers get hot, so why not put them to good use? Qarnot creates green data centers by placing servers in central heating boilers; Roman Reports. The company has raised $13 million to continue its mission.
• Like Etsy but KoreanHandmade goods marketplace Backpacker is preparing to expand to Southeast Asia, according to reports Kate.
• Better conversation with certain waysAnthropic Cloud improves on ChatGPT, but still has limitations; Kyle Reports.

Timeline of Startup M&A Processes: Key Steps and Considerations

“Not all companies are better off going it alone, and that’s okay,” writes Vishal Lugani, general partner and co-founder of Acrew Capital.

In his detailed guide to the M&A process, Lugani offers a week-by-week deal timeline that breaks down each step between finding deals and post-closer integration.

A lot can happen in the months it takes to close a deal, so this article includes strategies for selecting a receiver, maintaining production momentum, and managing your team (and investors!).

Three more from the TC+ team:

TechCrunch+ Our membership program helps founders and startup teams stay ahead of the pack. You can register here.. Use code “DC” for 15% off annual subscription!

Big Tech Inc.

Some sources said. Manish That OpenAI startup fund is in talks to invest in silicon chip bigwigs Sam Zeloff and Jim Keller, who started Atomic Semi to make the chips. And get this: the proposed $15 million investment will cost the company $100 million. Not too rough, er, let’s say silicone-y.

And we have five more for you:

• Related manufacturer, application typeCheating happens especially when love is involved. It’s not a good look for Tinder and other related dating apps, so they’re offering in-app tips to avoid dating scams. Lauren He wrote.
• Even more dismissalData software company Scale AI is cutting 20% ​​of its workforce. Kirsten Reports. In a blog post, CEO Alexander Wang pointed to aggressive hiring in good times but added that “the macro environment has changed dramatically in recent quarters, which is something I failed to predict.”
• In privacy news: Natasha L Europe is questioning TikTok on a range of topics, including data security, disinformation and compliance with digital services laws, while writing the Facebook data fraud breach that led to an enforcement action in Ireland.
• Windows 7 security is in the rearview mirror.Microsoft ends Windows 7 security updates Zach Reports.
• Youth screen timeInstagram and Facebook are looking at advertising to younger users and introducing more restrictions on targeting teenagers with ads. Taylor Reports.