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FUJIFILM BECOMES THE LATEST VICTIM OF A NETWORK-CRIPPLING Japanese multinational conglomerate Fujifilm has been forced to shut down parts of its global network after falling victim to a suspected ransomware attack. The company, which is UBS INVESTMENT MAKES BYJU’S THE MOST VALUABLE STARTUP IN 8 hours ago · Edtech giant Byju’s has become the most valuable startup in India after raising about $350 million in a new tranche of investment from UBS Group and NETWORK SECURITY STARTUP EXTRAHOP SKIPS AND JUMPS TO $900M A win for Seattle, though the final price is a head-scratcher. Last year, Seattle-based network security startup ExtraHop was riding high, quickly approaching $100 million in ARR and even making ROCKET LAB CLEARED BY THE FAA TO RESUME LAUNCHES AFTER Rocket Lab didn’t reference an earlier mission failure from last July in this update. It ultimately concluded that anomaly was the result of a bad electrical connection, but which had similar MOTIONAL CEO HINTS AT AN AUTONOMOUS FUTURE IN LOGISTICS Motional, the $4 billion joint venture between Aptiv and Hyundai, is exploring the company’s potential involvement in autonomous trucking or logistics, its CEO said today during a live session APPLE UNVEILS IOS 15 WITH NEW FEATURES FOR FACETIME AND During the virtual keynote of WWDC, Apple shared the first details about iOS 15, the next major version of iOS that is going to be released later this year. There are four pillars with this year APPLE UNVEILS NEW IOS 15 PRIVACY FEATURES AT WWDC Apple kicked off its global annual developer conference, WWDC, with a ton of new features and technologies. TechCrunch has all the coveragehere from the
NEXFORD UNIVERSITY LANDS $10.8M PRE-SERIES A TO SCALE ITS Two profound problems face the higher education sector globally — affordability and relevance. Whether you live in Africa, Europe, or the U.S., a major reason why people don’t go TECHCRUNCH – STARTUP AND TECHNOLOGY NEWS TechCrunch - Reporting on the business of technology, startups, venture capital funding, and Silicon Valley ENDUA CREATES HYDROGEN-POWERED CLEAN ENERGY STORAGE, USING Hydrogen-based generators are an environmentally friendly alternative to ones powered by diesel fuel. But many rely on solar, hydro or wind power, which aren’t available all the time. Brisbane TWITCH, PINTEREST, REDDIT AND MORE GO DOWN IN FASTLY CDN Countless popular websites including Reddit, Spotify, Twitch, Stack Overflow, GitHub, gov.uk, Hulu, HBO Max, Quora, PayPal, Vimeo, Shopify, Stripe, and news outlets FUJIFILM BECOMES THE LATEST VICTIM OF A NETWORK-CRIPPLING Japanese multinational conglomerate Fujifilm has been forced to shut down parts of its global network after falling victim to a suspected ransomware attack. The company, which is TIKTOK JUST GAVE ITSELF PERMISSION TO COLLECT BIOMETRIC A change to TikTok’s U.S. privacy policy on Wednesday introduced a new section that says the social video app “may collect biometric identifiers and biometric information” from its users SOFTBANK-BACKED CONSTRUCTION GIANT KATERRA SAID TO BE After burning through more than $2 billion in funding, SoftBank-backed construction startup Katerra has told employees that it will be shutting down operations, according to a report in The WALMART ACCIDENTALLY UNVEILED ITS OWN BARGAIN-PRICED FHD Walmart accidentally scooped itself by publishing product listings for its own, onn-branded, low-cost Android TV streaming stick to the Walmart.com website ahead of its formal launch, where it INDOOR FARMING COMPANY BOWERY RAISES $300M New York City-based vertical farming startup Bowery Farming this week has announced a $300 million Series C. 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Apple has hired the former co-founder and CEO of electric vehicle company Canoo to help with the development of the Apple Car, Bloomberg first reported, citing MOTIONAL CEO HINTS AT AN AUTONOMOUS FUTURE IN LOGISTICS Motional, the $4 billion joint venture between Aptiv and Hyundai, is exploring the company’s potential involvement in autonomous trucking or logistics, its CEO said today during a live session APPLE ANNOUNCES ICLOUD+ WITH PRIVACY-FOCUSED FEATURES Apple is rolling out some updates to iCloud under the name iCloud+. The company is announcing those features at its developer conference. Existing paid iCloud users are APPLE UNVEILS IOS 15 WITH NEW FEATURES FOR FACETIME AND During the virtual keynote of WWDC, Apple shared the first details about iOS 15, the next major version of iOS that is going to be released later this year. There are four pillars with this year ELON MUSK OFFICIALLY HITS THE BRAKES ON TESLA MODEL S The Tesla Model S Plaid powertrain can go from 0 to 60 mph in 1.99 seconds, has a top speed of 200 miles per hour and an estimated rangeof 390
ATOMIC-BACKED JUMPCUT USES DATA TO ADVANCE DIVERSITY IN 1 day ago · Jumpcut founder Kartik Hosanagar is a professor at the Wharton School, but about ten years ago, he spent his summer in an unlikely way: he wrote a screenplay. Set in India, his script garnered EXTRA CRUNCH ROUNDUP: INSIDE SPRINKLR’S IPO FILING, HOW Despite a recent history of uneven cash flow and moderate growth, SaaS customer experience management platform Sprinklr has filed to gopublic. In
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WALMART SHUTS DOWN ITS EXPERIMENTAL PERSONAL SHOPPING SERVICE, JETBLACK
Sarah Perez @sarahintampa / 7:22 pm GMT • February 13, 2020comment Comment
Walmart is shutting down its personal shopping service, Jet black, on February 21, after struggling to find adoption or additional investment. The service had allowed New York-area customers to text message orders for home delivery. According to its website, Jet black will now no longer accept new orders and will refund its customers their most recent $50 monthly membership fee. The retailer is trying to spin the shutdown as a learning experience, noting that part of the initiative was to test and build technology that could eventually be applied to other parts of Walmart’s business. In Jet black’s case, Walmart learned about conversational commerce and how customers could use textmessages to shop.
But according to an earlier report from The Wall Street Journal, Walmart had discussed investment with several potential partners, including Microsoft and VC firm NEA. Those talks didn’t pan out. Jet black, the report said, had gained fewer than 1,000 customers and remained a money-losing business. To be fair, a high-end shopping service was largely an experimental concept for Walmart to dabble in, and it’s not surprising that it didn’t take off. After all, the Walmart brand today is aligned with cost savings and mainstream America, not necessarily the well-to-do, time-strapped urban parents to whom Jet black aimed to cater. It also overlapped with Walmart’s own home delivery options, including its successful Walmart Grocery service, which could deliver the fresh food Jet black could not. Jet black received more attention than it likely warranted, given its concept and limited reach, for a few reasons. The service, whicharrived in May 2018
,
was the first project to debut from Walmart’s tech incubator, Store No. 8, which drew interest. In addition, Jet black’s co-founder and CEO Jenny Fleiss previously co-founded Rent the Runway , a popular clothing rental startup catering to a similar upwardly mobile demographic. Jet black also arrived at a time when a few startups had been trying text-based shopping, including Hello Alfred, Magic, GoButler, Operator, Fetch, Scratch and others. (Most have since failed or pivoted.) Walmart’s entry into this market, at the time, was thenconsidered notable.
Walmart claimed last July Jet black’s customers were spending $1,500per month
,
on average. But there weren’t enough customers — or efficiency in the business model — to make Jet black profitable. In addition, Fleiss left the business last year, signaling Jet black’s struggles. She was replaced by Nate Faust, Walmart senior vice president of e-commerce logistics. The Journal reported Jet black was losing as much as $15,000 per year per member, as of last summer. Today it says 293 Jet black employees will be laid off as a result of the shutdown. A Walmart spokesperson confirmed this figure to TechCrunch, as well, noting that 58 other employees are being retained to help apply Jet black’s learning to other areas, including Walmart Grocery. “We’ve learned a lot through Jet black, including how customers respond to the ability of ordering by text as well as the type of items they purchase through texting,” said Scott Eckert, SVP, Next Generation Retail and Principal, Store No 8, in an announcement.
“We’re eager to apply these learnings from Jet black and leverage its core capabilities within Walmart,” he added.Conversation
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WALMART SHUTS DOWN ITS EXPERIMENTAL PERSONAL SHOPPING SERVICE, JETBLACK
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