Daily Crunch: Pinterest files to go public
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1. Pinterest files confidentially to go public
The business has confidentially submitted paperwork to the Securities and Exchange Commission for an initial public offering slated for later this year, according to a report from The Wall Street Journal.
Earlier reports indicated the company was planning to debut on the stock market in April. In late January, Pinterest took its first official step toward a 2019 IPO, hiring Goldman Sachs and JPMorgan Chase as lead underwriters for its offering.
2. Google ends forced arbitration for employees
This is a direct response to a group of outspoken Google employees protesting the company’s arbitration practices. Forced arbitration ensures that workplace disputes are settled behind closed doors and without any right to an appeal, effectively preventing employees from suing companies.
3. Facebook will shut down its spyware VPN app Onavo
Facebook will end its unpaid market research programs and proactively take its Onavo VPN app off the Google Play store in the wake of backlash following TechCrunch’s investigation about Onavo code being used in a Facebook Research app that sucked up data about teens.
In this photo taken on February 6, 2019, Indian delivery men working with the food delivery apps Uber Eats and Swiggy wait to pick up an order outside a restaurant in Mumbai.
4. Uber is reportedly close to making a tactical exit from India’s food delivery industry
India’s Economic Times is reporting that Uber is in the final stages of a deal that would see Swiggy eat up Uber Eats in India in exchange for giving the U.S. ride-hailing firm a 10 percent share of its business.
5. Google’s ‘Digital Wellbeing’ features hit more devices, including Samsung Galaxy S10
Initially available exclusively to Pixel and Android One device owners, Digital Wellbeing’s feature set is now rolling out to Nokia 6 and Nokia 8 devices with Android Pie, as well as on the new Samsung Galaxy S10.
6. DoorDash raises $400M round, now valued at $7.1B
Recent data from Second Measure shows that DoorDash has overtaken Uber Eats in U.S. market share — for online food delivery, it now comes in second to Grubhub.
7. Venmo launches a ‘limited edition’ rainbow debit card for its payment app users
The new rainbow card will be offered until supplies last, Venmo says. And existing card holders can request this card as a replacement for their current card, if they choose.