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Thursday, March 2, 2017

Pop goes the Snap, Inc. It's The Daily Crunch.

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THE DAILY CRUNCH
THURSDAY, MARCH 2 2017 By Darrell Etherington

Snap pops, Amazon suns itself and Twitter targets the gaming teens. That and more in The Daily Crunch for March 3, 2017. And if you want to start a ride-sharing company, this could actually be a pretty good time to do it.

1. Snap opens strong

Snap popped at the open of its public trading on the NYSE, which means its founders and early investors left about $1 billion on the table since they priced at $17. Still it's better than faltering out of the gate, at least in terms of what it reflects for early investor confidence in the company.

The value of the company is not huge, given that its guidance in its S1 filing showed lots to be worried about in terms of growth and revenue potential and trends.

2. Snapchat's sales tactics on blast

Some leaked emails show that Snap bandied the NRA's interest in buying ads about in a conversation with Everytown for Gun Safety, a pro-gun control nonprofit. Sounds gross.

3. Amazon starts taking in the sun

Amazon has begun using the rooftops of its sprawling fulfilment and sorting facilities to harness the Sun's rays for energy. It's not going to be enough to power any individual facilities completely from what they can gather on their own, but it can help offset their footprint by a big margin.

4. Twitter to live stream 1,500 hours of e-sports

The video games, they are truly a sport, in case you've been sleeping. Now Twitter's getting in on the action, streaming a ton of e-sports competitions through a bunch of new partnerships, which builds on its existing efforts to stream actual sports, too.

5. The ride-hailing wars in China are far from over

Didi wrested Uber out of its market with a deal that let both walk away with decent upside – but now UCAR, another Chinese Didi rival, is looking to raise a lot of money from serious investors including UnionPay to take on the incumbent.

6. Lyft is looking for new funding amid Uber troubles

Lyft's bargaining position in terms of attracting new investment has never been better, with category-leading rival Uber facing a number of battles, any one of which could prove disastrous depending on how they shake out. So it's no surprise Lyft is carpe diem-ing itself all the way to the bank.

7. Sam Altman on tech activism

What role do startups have in politics? YC's Sam Altman has been among the most active voices in Silicon Valley regarding Trump administration practices that negatively impact civil liberties, and he spoke to Megan about that and a range of other topics for Bullish.

Get more stories at techcrunch.com 

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