Daily Crunch: Stripe now valued at $36B

Stripe develops new funding, Uber accepts business indecision and a contentious facial recognition startup inadvertently exposes its root code.

Here’s your Daily Crunch for April 17, 2020.

1. Stripe promotes $600 M at $36 B valuation in Series G extension, says it has$ 2B on its balance sheet

The economy may be contracting as a result of the COVID-1 9 pandemic, but predicting startups are still continuing to raise money to shore up investments for whatever may lie ahead.

The latest development: Stripe, a well-known fees unicorn, announced that it had raised another $600 million in brand-new asset, money that it plans to use to continue investing in product development, further global swelling and strategic initiatives.

2. Uber withdraws 2020 guidance

“Given the evolving nature of COVID-1 9 and the uncertainty it has caused for every industry in every part of the world, it is impossible to predict with precision the pandemic’s cumulative impact on our future financial results, ” Uber said in a statement.

3. Security lapse uncovered Clearview AI source code

The controversial facial recognition startup allows its law enforcement users to take a picture of a person, upload it and match it against its alleged database of 3 billion portraits, which the company scraped from public social media sketches. And for a day, a misconfigured server disclosed the company’s internal enters, apps and source code for anyone on the internet to find.

4. Changing policy, Y Combinator chips its pro rata stake and offsets financings case-by-case

Under its new programme, the accelerator is reducing its pro rata investment size from 7% to 4% and is only investing on a case-by-case basis going forward. Apparently the portfolio has gone too big for rug assets, and some of the limitations of partners who back the accelerator’s operations are balking at reaching commitments to the pro rata program.

5. Announcing the Extra Crunch Live event line

First up: We’ll be chit-chat with Aileen Lee( former KPCB partner, founder and managing director at Cowboy.vc and coiner of the expression “Unicorn”) and Ted Wang( Cowboy.vc spouse, onetime collaborator at Fenwick& West, and onetime outside guidance to Facebook, Twitter, Dropbox, Square and more) on Monday, April 20. And yes, you’ll need to be an Extra Crunch member to tune in.

6. NASA discovers daring multi-spacecraft plan to bring a piece of Mars back to Earth

NASA has said many times that it intends to collect a test from Mars and return it to Earth. But how will the organization go about scooping up clay from the surface area of a remote planet and get it back here? With a newly-revealed plan that resounds straight out of sci-fi.

7. Facebook’s annual virtual reality consultation vanishes virtual-only

Facebook announced that it will be shelving the in-person component of its virtual reality-focused Oculus Connect 7 seminar due to COVID-1 9 concerns and focusing on a digital form. Although the company hadn’t announced years for the incident, the conference is typically held in late September or early October.

The Daily Crunch is TechCrunch’s roundup of our biggest and most important legends. If you’d like to come this delivered to your inbox every day at around 9am Pacific, you can subscribe here.

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