Daily Crunch: WeWork delays its IPO
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1. WeWork withdraws its S-1 filing, will delay its IPO
The move was widely expected, but The We Company (which owns WeWork) made it official yesterday, with new co-CEOs Artie Minson and Sebastian Gunningham declaring that they’ve “decided to postpone our IPO to focus on our core business.”
Since the company’s S-1 became public, it has faced intense scrutiny over the general state of its finances, and more specifically over the power and behavior of Adam Neumann, who stepped down as CEO last week.
2. Europe’s top court says active consent is needed for tracking cookies
It’s a decision that plunges many websites into legal hot water in Europe. The Court says consent must be obtained prior to storing or accessing non-essential cookies, such as tracking cookies for targeted advertising.
3. Twitter launches its anti-abuse filter for Direct Messages
Twitter is rolling out its spam and abuse filter for Direct Messages, a month and a half after the company announced it had started testing the feature. This should be useful for people who want to keep their DMs open without having to see abusive content.
4. Microsoft OneDrive Personal Vault rolls out worldwide, launches expandable storage
Earlier this summer, Microsoft introduced an extra layer of security for its OneDrive product, allowing users to protect their files with two-step verification. Now it’s rolling this feature out worldwide.
5. Pandora puts its personalization powers to work in a revamped app
The company’s new mobile experience includes a dedicated “For You” tab where a continually updated feed of content is presented to users, including music and podcast recommendations.
6. Rapyd raises $100M for its ‘fintech as a service’ API, now valued at nearly a $1B valuation
Currently, Rapyd lets customers use its API to enable checkout, funds collection, fund disbursements, compliance as a service, foreign exchange, card issuing and integration.
7. SmartNews’ head of product on how the news discovery app wants to free readers from filter bubbles
SmartNews’ Jeannie Yang talks about the app’s place in the media ecosystem, creating recommendation algorithms that don’t reinforce biases, the difference between its Japanese and American users and the challenges of presenting political news in a highly polarized environment. (Extra Crunch membership required.)
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