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Nuro, the autonomous vehicle delivery startup backed by Softbank, Google and Tiger Global Management, is laying off about 300 people, or 20% of its workforce in an effort to preserve cash amid a stormy economic outlook, according to an email sent to employees this morning. Several Nuro employees also posted on Twitter and LinkedIn this […]

Autonomous delivery startup Nuro lays off 20% of workforce by Kirsten Korosec originally published on TechCrunch

Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. This week, Alex and Natasha discussed the latest and greatest of this consuming news cycle. Our goal with the episode, as always, is to go beyond what you may see in a 140 […]

Pick your poison: recruitment or retention? by Natasha Mascarenhas originally published on TechCrunch

Last Monday, Jumia co-founders Sacha Poignonnec and Jeremy Hodara resigned from their roles as co-CEOs, just ten days before the company’s third-quarter 2022 financial report. The end of their tenure, therefore, marked the first time a new face — Francis Dufay, the ex-chief at Jumia Ivory Coast and now acting CEO of Jumia — took […]

Jumia to cut products and overheads as new management chase profits by Tage Kene-Okafor originally published on TechCrunch

Despite legacy venture capital firms continuing to raise bigger and bigger funds, LPs may have more luck focusing on the small stuff. Amit Kurz, a general partner at Israel-based fund of funds Sweetwood Ventures, thinks so. He told TechCrunch that last year he started to notice more and more tiny funds he wasn’t familiar with […]

Fund of funds Sweetwood Ventures bets big on VC’s smallest funds by Rebecca Szkutak originally published on TechCrunch

Google is requiring loan apps in Kenya to submit proof of license to operate in the country, failure to which they risk removal from Play Store, its digital distribution service. Those that have applied for licensing from Central Bank of Kenya, and can produce evidence of the same, may also be spared. Google’s action has, […]

Google clamps down on illegal loan apps in Kenya, Nigeria by Annie Njanja originally published on TechCrunch

Electric vehicle startup Nio is accelerating its expansion in Europe. The premium EV maker just launched its first power-swapping station in Varberg, Sweden, the company said in a LinkedIn post. When it comes to charging, Nio differentiates itself from its rivals by offering swappable batteries, which are upgradable and charge a monthly subscription fee, on […]

China’s EV upstart Nio switches on power swap station in Sweden by Rita Liao originally published on TechCrunch