Home News China postpones Ant Group IPO – TechCrunch

China postpones Ant Group IPO – TechCrunch

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Sure, there’s a high-stakes presidential election underway, however tech information doesn’t cease fully: Chinese language regulators pull the brakes on Ant Group’s IPO, Spotify provides standalone streaming help on Apple Watch and PayPal outlines its plans for 2021. That is your Every day Crunch for November 3, 2020.

The large story: China postpones Ant Group IPO

The Shanghai inventory alternate has postponed Ant Group’s IPO a day after Chinese language regulators held a closed-door assembly with Jack Ma and different firm executives. The corporate has additionally halted plans for its public itemizing in Hong Kong.

Ant Group, a monetary know-how big that spun out of Alibaba, was beforehand on observe to boost $34.5 billion on the planet’s largest IPO. It’s not precisely clear why the providing was referred to as off, however Alibaba’s founder Ma not too long ago gave a speech criticizing China’s monetary regulation.

“We’re sincerely sorry for any inconvenience dropped at traders,” the corporate stated in an announcement. “We’ll correctly deal with follow-up issues following compliance laws of the 2 exchanges.”

The tech giants

Spotify adds standalone streaming support to its Apple Watch app — The function was noticed in testing again in September, and it arrives roughly two years after Spotify first debuted its devoted Apple Watch app.

Twitter hides Trump tweet attacking Supreme Court’s decision on Pennsylvania ballots — In a preview of what to anticipate within the coming days, President Trump pushed the bounds on Twitter’s election-specific insurance policies Monday night time.

PayPal details its digital wallet plans for 2021, including crypto, Honey integration and more — The corporate stated it plans to roll out substantial adjustments to its cellular apps over the subsequent yr, together with help for enhanced direct deposit, crypto and all of Honey’s purchasing instruments.

Startups, funding and enterprise capital

REEF Technology raises $700M from SoftBank and others to remake parking lots — REEF started its life as Miami-based ParkJockey, offering {hardware}, software program and administration providers for parking tons.

Udacity raises $75M in debt, says its tech education business is profitable after enterprise pivot — The net studying firm is now centered on profitable over enterprise prospects.

Walmart reportedly ends contract with inventory robotics startup Bossa Nova — Walmart has reportedly pulled the plug on considered one of its highest-profile partnerships.

Recommendation and evaluation from Additional Crunch

Four takeaways from fintech VC in Q3 2020 — The newest on insurtech, banking, wealth administration and funds startups.

Gaming rules the entertainment industry, so why aren’t investors showing up? — Enterprise exercise doesn’t appear to match the scale of the video games market.

How startups can shake up their first idea and still crush the market — Some ideas on the ol’ startup pivot.

(Reminder: Additional Crunch is our membership program, which goals to democratize details about startups. You can sign up here.)

Every thing else

Tech stocks rip higher on Election Day — The positive factors got here lengthy earlier than any outcomes that will point out the election’s winner.

NBC News launches an iOS 14 widget that puts election results on your home screen — NBC Information permits customers to customise a sequence of widgets with info associated to early voting stats, polls, present election outcomes and extra.

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