KKR invests $500M into Box – TechCrunch


Box will get some monetary ammunition in opposition to an activist investor, Samsung launches the Galaxy SmartTag+ and we take a look at the historical past of CryptoPunks. This is your Daily Crunch for April 8, 2021.

The large story: KKR invests $500M into Box

Private fairness agency KKR is making an investment into Box that ought to assist the cloud content material administration firm purchase again shares from activist investor Starboard Value, which could in any other case have claimed a majority of board seats and compelled a sale.

After the funding, Aaron Levie will stay with Box as its CEO, however unbiased board member Bethany Mayer will develop into the chair, whereas KKR’s John Park is becoming a member of the board as nicely.

“The KKR move is probably the most important strategic move Box has made since it IPO’d,” said Alan Pelz-Sharpe of Deep Analysis. “KKR doesn’t just bring a lot of money to the deal, it gives Box the ability to shake off some naysayers and invest in further acquisitions.”

The tech giants

Samsung’s AirTags rival, the Galaxy SmartTag+, arrives to help you find lost items via AR — This is a model of Samsung’s lost-item finder that helps Bluetooth Low Energy and ultra-wideband technology.

Spotify stays quiet about launch of its voice command ‘Hey Spotify’ on mobile — Access to the “Hey Spotify” voice characteristic is rolling out extra broadly, however Spotify isn’t saying something formally.

Verizon and Honda want to use 5G and edge computing to make driving safer — The two corporations are piloting totally different security eventualities on the University of Michigan’s Mcity, a take a look at mattress for linked and autonomous automobiles.

Startups, funding and enterprise capital

Norway’s Kolonial rebrands as Oda, bags $265M on a $900M valuation to grow its online grocery delivery business in Europe — Oda’s goal is to offer “a weekly shop” for costs that compete in opposition to these of conventional supermarkets.

Tines raises $26M Series B for its no-code security automation platform — Tines co-founders Eoin Hinchy and Thomas Kinsella had been each in senior safety roles at DocuSign earlier than they left to begin their very own firm in 2018.

Yext co-founder unveils Dynascore, which dynamically synchronizes music and video — This is the primary product from Howard Lerman’s new startup Wonder Inventions.

Advice and evaluation from Extra Crunch

Four strategies for getting attention from investors — MaC Venture Capital founder Marlon Nichols joined us at TechCrunch Early Stage to debate his methods for early-stage investing, and the way these classes can translate into a profitable launch for budding entrepreneurs.

How to get into a startup accelerator —  Neal Sáles-Griffin, managing director of Techstars Chicago, explains when and the way to apply to a startup accelerator.

Understanding how fundraising terms can affect early-stage startups — Fenwick & West accomplice Dawn Belt breaks down a number of the phrases that journey up first-time entrepreneurs.

(Extra Crunch is our membership program, which helps founders and startup groups get forward. You can sign up here.)

Everything else

The Cult of CryptoPunks — Ethereum’s “oldest NFT project” could not truly be the primary, nevertheless it’s the wildest.

Biden proposes gun control reforms to go after ‘ghost guns’ and close loopholes — President Joe Biden has introduced a brand new set of initiatives by which he hopes to curb the gun violence he described as “an epidemic” and “an international embarrassment.”

Apply to Startup Battlefield at TechCrunch Disrupt 2021 — All you want is a killer pitch, an MVP, nerves of metal and the drive and willpower to tackle all comers to say the coveted Disrupt Cup.

The Daily Crunch is TechCrunch’s roundup of our greatest and most necessary tales. If you’d wish to get this delivered to your inbox each day at round 3pm Pacific, you possibly can subscribe here.



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