Months after Zendesk rejected a $17 billion offer, it’s selling it to a private equity group – TechCrunch – for $10.2 billion


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Hey folks and welcome to Friday’s Daily Crunch. As you may have seen, the Supreme Court made a key decision on abortion today, effectively effectively Roe v. Wade overthrown by declaring that the Constitution does not guarantee the right to an abortion. While the outcome was expected – a draft of the decision was leaked months ago – the implications for the tech industry are only just beginning to become clearer. Stay tuned as my colleagues and I analyze developments.

Also, last night’s TechCrunch summer party was a huge hit – thanks to everyone who came! Not to sound like a broken record, but on the event front, don’t forget the upcoming TC Sessions: Robotics in July. And on the distant horizon, TechCrunch Disrupt returns to San Francisco on October 18th. I can’t wait to see your smiling faces there.

In the meantime, do you need reading or listening material? Consider checking out TechCrunch’s podcast and newsletter library. I bet the backlog is big enough to keep you busy – and more importantly, updated! — kyle

The TechCrunch Top 3

  • Move over, there’s a new co-pilot in town: As proof that GitHub isn’t the only platform that has what it takes to launch an AI-powered pair programmer, Amazon this week unveiled CodeWhisperer, a tool that can auto-complete entire functions based on just one comment or a few keystrokes of code. As Frederick writes, Amazon trained the system – which currently supports Java, JavaScript, and Python – on billions of lines of publicly available open source code and its own code base, as well as publicly available documentation and code on public forums.
  • During the acquisition of your company, please keep: Zendesk has had a tough time of late, which has to do with activist investors hounding the customer service software maker over changes and misguided attempts to boost its valuation. Still, the news of today’s Zendesk acquisition came as a bit of a surprise, if only because of its suddenness. Ron notes that the $10.2 billion transaction — led by Permira and Hellman & Friedman — opened a path for investors some Return on investment, albeit below the $17 billion offer they received in February.
  • Who needs megapixels when you’ve got Benjamins? Leica makes great digital cameras. But for the limited special edition Leica MA Titan, the German imaging company decided to go the analog route. The titanium-clad MA Titan records film and, if that weren’t outrageous enough, costs a staggering $20,000. hey reports on the matter, noting that Leica only sells about 100,000 cameras a year. Perhaps it can be awarded for collecting a bounty.

Startups and VCs

In drug-related news, a startup called Wondermed raised $4.6 million to offer patients ketamine-assisted treatments at home. Now you might be wondering: is this safe? Wondermed claims this is the case, as do its competitors flower of thought and excursion health. But of course they would. hey is not skeptical about how easy it is to get approval for ketamine treatment, but points to clinical studies demonstrating the drug’s effectiveness as a therapeutic option for anxiety and depression.

Elsewhere in the technique:

  • Delivery of the goods — at the price: Proving that the instant delivery market isn’t yet in full swing, Zomato this week acquired Blinkit, a struggling 10-minute grocery delivery startup, for $568.1 million. Manic reports that investors have questioned Zomato’s expansion into the space given its punitively high costs and low margins.
  • Hold my battery: Package transporting drones are cool. What’s not cool is that they have to swap out their batteries and payloads once they land. Luckily there is a startup for that. Airrow makes a device that works similar to a CNC machine or 3D printer. brian Reportedly with a gantry that moves along the X and Y axes to get the battery pack from the charger to the drone and back again. How nifty is that?
  • The fight is real: It never looks good when a startup, fresh from raising capital, cuts a significant chunk of its staff. That’s what happened this week at Ro, who laid off 18% of his full-time job to “manage costs and increase efficiency [its] better map the organization and our resources [its] current strategy.” Natasha notes that former and current employees have previously spoken out about the health technology company’s inability to generate meaningful revenue from newer products.
  • Looking for a long-term partner: Communication is important in any relationship, but it’s not always instant. That’s why Hinge this week rolled out “Dating Intentions,” a new profile feature designed to encourage users to be open about their expectations. acc aishainclude curated choices of life partner, long-term, long-term, open to short-term, short-term, open to long-term, short-term, and find out. my dating goals.”
  • When life gives you lemons, turn to crypto: Solana, a startup founded by former Essential engineers and designers, is shifting its focus to cryptocurrency. CEO Anatoly Yakovenko announced this week that its first product, the Osom OV1, will be an Android smartphone supporting decentralized apps built on the Solana blockchain. reactions were mixed Jaquelyn reports.
  • Do not eat lentils: Daily Harvest blames lentils for the health issues experienced by some of its customers — leeks and lentils in particular. According to a Wall Street Journal article, the company recalled its product French Lentil and Leek Crumbles, which reportedly led some people to have surgery to remove their gallbladder and may have contributed to liver damage and fever. Daily Harvest is valued at over $1 billion and has been endorsed by a number of celebrities. aisha Notes including Bobby Flay, Gwyneth Paltrow and Serena Williams.

Twitter Space: Karl Alomar, Managing Partner of M13, discusses fundraising during a recession

Close up stork billed kingfisher in tropical garden Singapore.

Photo credit: Getty Images/dblight

On Monday, June 27 at 11:30 a.m. PT/2:30 p.m. ET, M13 Managing Partner Karl Alomar will meet with Senior Editor Walter Thompson in a Twitter Space to share tactics and strategies for founders moving into want to raise funds during this downturn.

Alomar guided startups through the dot-com bust of 2000 and the Great Recession of 2008 and will discuss whether investors still prioritize growth over profits and how to identify the evidence founding teams need to define before their next raise.

We’re taking questions, so please Follow @techcrunch on Twitter and Set a reminder for chat on Monday.

(TechCrunch+ is our membership program that helps founders and startup teams get ahead. Here you can sign up.)

BigTech Inc.

The future has arrived. Type of. San Francisco residents can now pay for a ride in an autonomous cab thanks to Cruise’s ride-hailing service. darrell writes that Cruise’s offering will initially only operate between 10 p.m. and 6 a.m. and on designated city streets, but that those limits could change in the future. It depends on how smoothly the service is running.

Meanwhile, the central bank in India is reportedly cracking down on fintech startups Manic. The Reserve Bank of India (RBI) has informed dozens of providers that it is banning the reloading of “non-bank prepaid payment instruments” – such as prepaid cards – using lines of credit. Some concerned founders are pushing the narrative that incumbent banks have pushed RBI to make a decision favorable to them.

In other news:

  • Fresh paint: As part of a broader update to Chrome, Google has announced a handful of new features for the latest version of Chrome for iOS. One of the key innovations is that the Chrome app gets access to Google’s enhanced Safe Browsing feature, which proactively warns you about dangerous websites. Lauren writes. Other updates include UI changes and the ability to set Google’s password manager as an autofill provider.
  • The slow pace of electro: What’s not to like about electric vehicles? The wait. acc jaclyn, rising demand for this year’s most anticipated electric vehicles is smashing order books and lengthening waiting lists. Rising supply chain costs mean customers of the Lyriq and other electric vehicles may be paying hundreds or thousands of dollars more for a vehicle that arrives months later than expected. Too bad.
  • Streaming still has problems: Ivan reports that Netflix laid off 300 employees this week, the company’s second wave of layoffs in two months. Headwinds the company is facing include the Russian invasion of Ukraine, the COVID pandemic and password sharing. Netflix lost more than 200,000 subscribers in the first quarter and expects to lose 2 million in the second quarter.
  • Almost as good as the original: Frederick writes that at its re:MARS conference, Amazon announced Synthetics in SageMaker Ground Truth, a new feature for creating a virtually unlimited number of images of a given object in different positions and under different lighting conditions. It aims to help create synthetic data for training AI models in situations where real-world data is not abundant.
  • Spyware reaches Android: Outlook security researchers recently linked a previously unassigned Android mobile spyware called Hermit to Italian software house RCS Lab. Zack reports. Now, Google threat researchers have confirmed many of Lookout’s findings and are notifying Android users whose devices have been compromised by the spyware.


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