Daily Crunch: Under Armour is selling MyFitnessPal

Under Armour quits on one of its huge acquisitions, Uber Eats deals with problems over its complimentary delivery policy for Black restaurants and Facebook takes another action to restrict QAnon-related material. This is your Daily Crunch for October 30, 2020.
The huge story: Under Armour is offering MyFitnessPal
Five years after Under Armour acquired MyFitnessPal for $475 million, its selling the diet plan- and exercise-tracking app to investment firm Francisco Partners for $345 million. Its likewise closing down the Endomondo platform, which it obtained at the same time.
Under Armour says its making these relocations so that it can focus its brand name on its “target customer– the Focused Performer.” Nevertheless, the lessened price suggested there may be more going on here, possibly the company likely suffering as business like Peloton and Apple (with its upcoming Fitness+ service) hog the spotlight in the casual fitness category.
Its also worth noting that Under Armour isnt entirely quiting on digital products– it will continue running the MapMyFitness platform, consisting of MapMyRun and MapMyRide.
The tech giants
Uber Eats deals with discrimination accusations over free delivery from Black-owned dining establishments– Uber states it has actually gotten more than 8,500 demands for arbitration as a result of it dropping delivery fees for some Black-owned restaurants through Uber Eats.
Facebook is limiting distribution of conserve our kids hashtag over QAnon ties– Over the previous numerous months, these terms have offered a sort of harmless cover for the popular online conspiracy theory.
Reliance Jio Platforms tops 400M subscribers, checks out expanding services beyond India– The Facebook- and Google-backed telecom operator stated its finances have actually enhanced, in spite of the pandemic.
Startups, financing and venture capital
Daimler purchases lidar business Luminar in push to bring autonomous trucks to highways– Luminar will also end up being an openly traded company through its merger with special function acquisition business Gores Metropoulos.
NestlĂ© acquires healthier meal startup Freshly for up to $1.5 B– Founded in 2015, Freshly is a New York City-based start-up that delivers healthy meals to your home in weekly orders, which can then be prepared in a couple of minutes by means of microwave or oven.
B8ta stays bullish on IRL shopping with new acquisition– B8ta uses shelf area to special digital items.
Suggestions and analysis from Extra Crunch
New GV partner Terri Burns has an easy investment thesis: Gen Z– Burns is the companys youngest partner and the first Black lady to hold the function.
Is the Great 2020 Tech Rally slowing?– What happens if COVID-19, unrest and hyped assessments clash?
( Reminder: Extra Crunch is our subscription program, which aims to democratize information about startups. You can sign up here.).
Everything else.
Teachers are leaving schools. Will they pertain to startups next?– Teacher departures are a loss for public schools, however a chance for startups racing to win a share of the changing instructor economy.
Huge techs blackbox algorithms face regulatory oversight under EU strategy– Major web platforms will be required to open up their algorithms to regulative oversight under propositions European legislators are set to present next month.
AOL creator Steve Case, included early in Section 230, states its time to change it–” Having more of a dialogue between the innovators and the policymakers is actually going to be critical in this internet third wave,” Case told us.
The Daily Crunch is TechCrunchs roundup of our biggest and essential stories. You can subscribe here if you d like to get this provided to your inbox every day at around 3pm Pacific.

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