Month: May 2020
Walmart is shutting down Jet after spending $3 billion on it in 2016
Walmart is shutting down Jet.com, the online shopping site it bought in 2016 for $3 billion as part of its attempts to better compete with rival Amazon online, an area that Amazon excels at compared to Walmart, via TechCrunch. According to Walmart’s Q1 earnings release, the decision to shut down…
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Jaguar’s I-Pace racing series will end because of COVID-19
The Jaguar I-Pace racing series, which launched in 2018, will come to an end this year after just two seasons due to the economic fallout of the COVID-19 pandemic. Jaguar I-Pace eTrophy, as it’s officially called, will finish out whatever races it can this year alongside electric racing series Formula…
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Daily Crunch: Disney’s streaming chief departs for TikTok
TikTok enlists a big name from Disney as its new CEO, Walmart is shuttering its Jet e-commerce brand and EasyJet admits to a major data breach. Here’s your Daily Crunch for May 19, 2020. 1. Disney streaming exec Kevin Mayer becomes TikTok’s new CEO Mayer’s role involved overseeing Disney’s streaming…
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Byte projects $100 million in 2020 revenue without increasing marketing spend
One usual characteristic of a bootstrapped company is that its growth is slower than its VC-backed competitors. Bootstrapped marketing spend relies on revenue, revenue often relies on marketing spend, and the tension between the two can force slower growth. VC-backed companies, in contrast, can afford to spend ahead of revenue,…
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Please, stop putting game names on otherwise good merch
Sony is selling a limited edition PlayStation 4 Pro bundle in honor of The Last of Us Part II’s upcoming release. The $399.99 package includes a console engraved with a replica of Ellie’s tattoo design, matching controller, copy of the game, and a code for digital themes. It’s also been…
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Autonomous retail startup Standard Cognition acquires competitor Checkout Technologies
As cashiers across the country take precautions to limit interactions with customers in the midst of the COVID-19 pandemic, it’s hard to think of a better time for the rollout of an Amazon Go vision of autonomous retail. Standard Cognition CEO Jordan Fisher has been building towards that future for…
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