Introduction
Welcome to this week’s episode of TechCrunch’s Equity podcast, where we dive into the latest news and trends in startup land. In this episode, Mary Ann Azevedo and Rebecca Bellan discuss Robinhood’s plans to buy European crypto exchange Bitstamp for $200 million in cash, and why they weren’t really surprised by the news.
Robinhood’s Crypto Bet
Robinhood has been making waves in the cryptocurrency space with its recent announcement of acquiring European crypto exchange Bitstamp. The deal is valued at $200 million in cash, and it marks a significant expansion for Robinhood into the European market. Mary Ann and Rebecca discuss the implications of this move and why they weren’t surprised by the news.
- Why Robinhood made the move: With the rise of cryptocurrencies, Robinhood saw an opportunity to expand its services and offer its users a more comprehensive platform.
- Competition in the crypto space: The acquisition is part of a larger trend in the cryptocurrency space, where companies are looking to consolidate and grow their user bases.
AI-Powered Healthcare
The duo then delves into two exciting healthcare-related deals. Rebecca highlights Sword Health’s innovative AI-powered virtual physical therapy tech and its recent fundraise, which resulted in a cool valuation bump. Mary Ann brings up Eko Health, which just raised $41 million after getting FDA clearance to help detect the first signs of heart failure during a routine medical exam.
- Sword Health’s innovative approach: Sword Health’s AI-powered virtual physical therapy tech is an example of how healthcare is being revolutionized by technology.
- Eko Health’s significant milestone: Eko Health’s recent fundraise and FDA clearance mark a significant milestone in the development of healthcare technology.
Fisker’s Fall
The conversation takes a turn as Sean O’Kane joins the discussion to talk about his in-depth investigation into the mess at electric vehicle manufacturer Fisker. The company has been plagued by issues, including hoods flying off and pinching parts from the production line.
- Fisker’s struggles: Fisker’s struggles are a reminder that even with significant investment and hype, companies can still face significant challenges.
- The importance of quality control: Fisker’s issues highlight the importance of quality control in manufacturing, particularly in the automotive industry.
LoanSnap Drama
Mary Ann and Rebecca then discuss the drama at AI mortgage startup LoanSnap, which is being sued left and right. The company has faced significant challenges, including regulatory issues and allegations of misconduct.
- The implications for AI startups: LoanSnap’s struggles serve as a cautionary tale for AI startups, highlighting the importance of regulatory compliance and ethics.
- The need for transparency: The drama surrounding LoanSnap highlights the need for transparency in business practices, particularly in the fintech industry.
Fintech Startups Focused on Gen Z
To close out the episode, Mary Ann and Rebecca discuss two very interesting fintech startups focused on Gen Z: Frich (which stands for ‘effin rich) and Fizz, a YC alum that just raised $14.4 million in a seed round led by Kleiner Perkins.
- Frich’s innovative approach: Frich’s focus on financial education and literacy is an example of how fintech startups are looking to engage with younger generations.
- Fizz’s significant milestone: Fizz’s recent fundraise marks a significant milestone for the company, which is now well-positioned to take on the challenges of the fintech space.
Conclusion
That’s it for this week’s episode of TechCrunch’s Equity podcast. We’ll be back bright and early Monday with more tech and startup news. Thanks for tuning in!
About the Authors
Mary Ann Azevedo is a Senior Reporter at TechCrunch, covering business and technology news. She has over 20 years of experience in journalism and holds a Master’s degree in journalism from the University of Texas in Austin.
Rebecca Bellan is a Senior Reporter at TechCrunch, covering transportation and AI. She previously covered social media for Forbes.com and has written for Bloomberg CityLab, The Atlantic, and more.
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