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Chinese cybersecurity probe validates Didi’s pre-IPO warning to investors

Regulators ordered the ride-hailing company to stop signing up new customers Alex Wilhelm 7 hours Shares of Chinese ride-hailing provider Didi are sharply lower this morning after news broke that its domestic regulators are investigating the newly public company. A loose translation of the probe’s official notice indicates that the cybersecurity review is “in order...

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California has no water and lots of liquidity

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. Danny, Natasha, and Alex were on-deck this week, with Grace on the recording and edit. But, if you want to hear more about Robinhood, this is not the episode for you. If you want to learn more about the consumer fintech company’s...

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GM is investing in a California lithium extraction project

General Motors is investing in domestically sourced lithium. The company said Friday it became the first investor in an Australian company’s project to extract the mineral, a critical component of electric vehicle batteries, from the Salton Sea Geothermal Field near Los Angeles. The automaker will have first rights on lithium produced by Controlled Thermal Resources’...

Microsoft warns of Windows ‘PrintNightmare’ vulnerability that’s being actively exploited
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Microsoft warns of Windows ‘PrintNightmare’ vulnerability that’s being actively exploited

Microsoft is warning Windows users about an unpatched critical flaw in the Windows Print Spooler service. The vulnerability, dubbed PrintNightmare, was uncovered earlier this week after security researchers accidentally published a proof-of-concept (PoC) exploit. While Microsoft hasn’t rated the vulnerability, it allows attackers to remotely execute code with system-level privileges, which is as critical and...

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India’s Licious raises $192 million for international expansion

Licious, a Bangalore-based startup that sells fresh meat and seafood online, has raised $192 million in a new financing round as it looks to expand its footprint beyond the South Asian market. The new round — a Series F — was led by Singapore’s investment firm Temasek and Multiples Private Equity. The round, which brings...

Facebook confirms tests of a new anti-extremism warning prompt
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Facebook confirms tests of a new anti-extremism warning prompt

Facebook is testing prompts that will link users to anti-extremism support and resources if the company believes the user knows someone who could be on the path to extremism, or if the user has been exposed to extremist content themselves, according to a report by CNN Business. In a statement to The Verge, a Facebook...

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Swedish gaming giant acquires India’s PlaySimple for $360 million

Swedish gaming giant Modern Times Group (MTG) has acquired Indian startup PlaySimple for $360 million, the two firms said Friday. MTG said it will pay 77% of the acquisition sum to Indian game developer and publisher in cash and the rest in company shares. There’s also another $150 million reward put aside if certain undisclosed...

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Tiger Global leads $42M Series B in Nigerian credit-led neobank FairMoney

Neobanks have led the charge as regards venture capital funding for consumer fintech startups. But while they have collectively dominated the fintech space, they don’t operate a monolithic model. There are five distinct models, and the one adopted by Nubank, the $30 billion behemoth, is the credit-led model. Neobanks operating this model start by offering...