CesiumAstro alleges in a newly filed lawsuit that a former executive disclosed trade secrets and confidential information about sensitive tech, investors, and customers to a competing startup.
Austin-based Cesium develops active phased array and software-defined radio systems for spacecraft, missiles, and drones.
But the suit says that Luther maintained “personal connections” with AnySignal’s cofounders, having worked with AnySignal CEO John Malsbury previously at a different company.
This resulted in AnySignal “recruiting and inducing Luther … to improperly disclose” the confidential and trade secret information, the suit says.
The suit was filed in Western District of Texas under no.
Shares are not continuing to climb in early trading, but are holding steady above its IPO price, at around $100 at the time of writing.
Its successful debut marks the third major tech IPO in the United States this year, and is the third in a row to price well and immediately trade higher.
Investor eagerness for Ibotta indicates that “there is an increasing appetite for IPOs again” Smith said, “particularly in the tech space.”Don’t pop the champagne yet for the tech IPO market coming roaring back, however.
Classic tech IPOs tend to feature tech companies still in growth mode and deeply in the red.
Smith agrees, calling the upcoming Rubrik IPO “an even bigger test” for tech debuts “given its weaker current financial picture.”We’ll find out next week.
Now, we’re headed to Washington, D.C., for another night of top-notch interviews and unparalleled networking, all at the cozy Woolly Mammoth Theatre on Tuesday, June 11.
Lina Khan – Chair, Federal Trade CommissionAs Chair of the Federal Trade Commission, Lina Khan brings a wealth of experience and expertise to the table.
With a background in business reporting and antitrust research, Khan has dedicated her career to addressing consolidation across various markets.
Steve Case – Chairman & CEO, RevolutionSteve Case is known for his pioneering efforts, such as founding AOL, and integrating the internet into everyday life.
Secure Your Spot:Tickets for StrictlyVC Washington, D.C., are priced at $159, offering exceptional value for an evening packed with exclusive content and networking opportunities.
Tesla’s layoffs and executive departures took a bite out its share price this week.
The well-known electric vehicle company shed around 10% of its staff, impacting an estimated 14,000 staff or more.
It missed delivery estimates for the first quarter, has reportedly reduced hours for the production-line of its Cybertruck, and is seeing rivals in China stack market share with low-priced EVs.
Tesla, in other words, helped foster the global electric vehicle market, but is losing some of its primacy in that same market.
In human terms, for every dollar of car that Tesla sells, it generates far more company worth than its rivals.
Rails, a decentralized crypto exchange, has raised $6.2 million in attempts to fill the void FTX left behind after crashing in 2022, the startup’s co-founder and CEO Satraj Bambra exclusively told TechCrunch.
The crypto community is watching Rails because it’s attempting to straddle the divide in crypto exchanges by building out both centralized and decentralized underlying technology.
The capital is earmarked for engineering team hiring and expanding its licensing and regulatory strategy to make the exchange “fully compliant,” Bambra said.
That centralized computing was something Rails saw with FTX as “being really, really good,” but when it came to decentralized exchanges like dYdX that exist today it wasn’t as solid, Bambra thinks.
But being a hybrid of decentralized and centralized is better than being fully one side or another, he added.
TipTop, the new app from Postmates’ founder and CEO, now lets you buy devices with trade-ins and cashTipTop, the startup that offers instant cash for electronics, is launching TipTop Shop: a way for users to purchase and trade in devices.
TipTop Shop builds on the success of TipTop Cash, which was released late last year.
It lets people get instant payouts for electronic devices like smartphones, iPads, cameras, game systems and more.
People can buy new, open-box and refurbished devices through cash and trade-ins.
Unlike on platforms like eBay and Facebook Marketplace, consumers aren’t buying products on TipTop from other consumers, as the devices are owned by the startup itself.
That gap introduces a fantastic opportunity for arbitrage — and a lively second-hand and refurbished market.
Getmobil’s growth trajectory has been remarkable, driven by a combination of strategic foresight, operational excellence and a deep understanding of the Turkish electronics — and regulatory — market.
The company’s rise is characterized by its ability to offer consumers high-quality, refurbished electronics at competitive prices, thereby filling a critical market gap.
Before the regulations, the refurbished electronics market in Turkey was chaotic and fragmented, and the quality and warranty coverage of second-hand devices was highly variable.
Navigating the intricacies of Turkey’s electronics market presents a unique set of challenges and opportunities for Getmobil.
In a role reversal, Xalts, a Singapore fintech startup founded 18 months ago, has acquired Contour Network, a digital trade platform set up by eight major banks including HSBC, Standard Chartered and BNP.
Backed by Accel and Citi Ventures, Xalts enables financial institutions to build and manage blockchain-based apps.
The startup plans to turn Contour into a rail connecting banks, corporations and other institutions, and integrate it with Xalts’ platform.
Kaur says this will enable Xalts’ clients to not only build apps, but also connect with each other in a secure and compliant way.
It will focus first on enabling banks and logistics companies to offer embedded trade and supply chain apps on a single platform to their customers.
Claim, a platform that is both a rewards app and a social network, has raised $4 million in a seed funding round led by Sequoia Capital.
With Claim, users and their friends can earn cash back, exchange rewards and even redeem them together.
The platform is a social network that aims to focus on real-world value and communal experiences rather than manufactured content and reposts.
“We started Claim because we were really interested in what it meant to own something online,” Stephenson told TechCrunch in an interview.
They then decided that users should be able to use the rewards with their friends or exchange them.
Apple will be halting sales of its Series 9 smartwatch, TechCrunch has confirmed.
The news, shared by 9to5Mac, follows an October ruling by the International Trade Commission (ITC), owing to a patent dispute with California-based med tech firm, Masimo.
This includes pausing sales of Apple Watch Series 9 and Apple Watch Ultra 2 from Apple.com starting December 21, and from Apple retail locations after December 24.
Apple strongly disagrees with the order and is pursuing a range of legal and technical options to ensure that Apple Watch is available to customers.
Should the order stand, Apple will continue to take all measures to return Apple Watch Series 9 and Apple Watch Ultra 2 to customers in the U.S. as soon as possible.
