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News: Indivisible is training an army of volunteers to neutralize political misinformation

The grassroots Democratic organization Indivisible is launching its own team of stealth fact-checkers to push back against misinformation — an experiment in what it might look like to train up a political messaging infantry and send them out into the information trenches. Called the “Truth Brigade,” the corps of volunteers will learn best practices for

The grassroots Democratic organization Indivisible is launching its own team of stealth fact-checkers to push back against misinformation — an experiment in what it might look like to train up a political messaging infantry and send them out into the information trenches.

Called the “Truth Brigade,” the corps of volunteers will learn best practices for countering popular misleading narratives on the right. They’ll coordinate with the organization on a biweekly basis to unleash a wave of progressive messaging that aims to drown out political misinformation and boost Biden’s legislative agenda in the process.

Considering the scope of the misinformation that remains even after social media’s big January 6 cleanup, the project will certainly have its work cut out for it.

“This is an effort to empower volunteers to step into a gap that is being created by very irresponsible behavior by the social media platforms,” Indivisible co-founder and co-executive director Leah Greenberg told TechCrunch. “It is absolutely frustrating that we’re in this position of trying to combat something that they ultimately have a responsibility to address.”

Greenberg co-founded Indivisible with her husband following the 2016 election. The organization grew out of the viral success the pair had when they and two other former House staffers published a handbook to Congressional activism. The guide took off in the flurry of “resist”-era activism on the left calling on Americans to push back on Trump and his agenda.

Indivisible’s Truth Brigade project blossomed out of a pilot program in Colorado spearheaded by Jody Rein, a senior organizer concerned about what she was seeing in her state. Since that pilot began last fall, the program has grown into 2,500 volunteers across 45 states.

The messaging will largely center around Biden’s ambitious legislative packages: the American Rescue plan, the voting rights bill HR1 and the forthcoming infrastructure package. Rather than debunking political misinformation about those bills directly, the volunteer team will push back with personalized messages promoting the legislation and dispelling false claims within their existing social spheres on Facebook and Twitter.

The coordinated networks at Indivisible will cross-promote those pieces of semi-organic content using tactics parallel to what a lot of disinformation campaigns do to send their own content soaring (in the case of groups that make overt efforts to conceal their origins, Facebook calls this “coordinated inauthentic behavior.”) Since the posts are part of a volunteer push and not targeted advertising, they won’t be labeled, though some might contain hashtags that connect them back to the Truth Brigade campaign.

Volunteers are trained to serve up progressive narratives in a “truth sandwich” that’s careful to not amplify the misinformation it’s meant to push back against. For Indivisible, training volunteers to avoid giving political misinformation even more oxygen is a big part of the effort.

“What we know is that actually spreads disinformation and does the work of some of these bad actors for them,” Greenberg said. “We are trying to get folks to respond not by engaging in that fight — that’s really doing their work for them — but by trying to advance the kind of narrative that we actually want people to buy into.”

Truth Sandwich:
1. Start with the truth. The first frame gets the advantage.
2. Indicate the lie. Avoid amplifying the specific language if possible.
3. Return to the truth. Always repeat truths more than lies.
Hear more in Ep 14 of FrameLab w/@gilduran76https://t.co/cQNOqgRk0w

— George Lakoff (@GeorgeLakoff) December 1, 2018

She cites the social media outrage cycle perpetuated by Georgia Rep. Marjorie Taylor Greene as a harbinger of what Democrats will again be up against in 2022. Taylor Greene is best known for endorsing QAnon, getting yanked off of her Congressional committee assignments and comparing mask requirements to the Holocaust — comments that inspired some Republicans to call for her ouster from the party.

Political figures like Greene regularly rile up the left with outlandish claims and easily debunked conspiracies. Greenberg believes that political figures like Greene who regularly rile up the online left suck up a lot of energy that could be better spent resisting the urge to rage-retweet and spreading progressive political messages.

“It’s not enough to just fact check [and] it’s not enough to just respond, because then fundamentally we’re operating from a defensive place,” Greenberg said.

“We want to be proactively spreading positive messages that people can really believe in and grab onto and that will inoculate them from some of this.”

For Indivisible, the project is a long-term experiment that could pave the way for a new kind of online grassroots political campaign beyond targeted advertising — one that hopes to boost the signal in a sea of noise.

News: Kudos, with its cotton-based, eco-friendly diaper, soaks up $2.4 million in seed funding

If you’ve experienced parenthood, you’re well versed in the surprisingly small world of disposable diapers. Help may be on the way. Kudos, a startup that is looking to reinvent the disposable diaper with sustainability in mind, announced the close of a $2.4 million seed round of financing today. Investors include Foundation Capital, XFund, PJC, Precursor

If you’ve experienced parenthood, you’re well versed in the surprisingly small world of disposable diapers. Help may be on the way.

Kudos, a startup that is looking to reinvent the disposable diaper with sustainability in mind, announced the close of a $2.4 million seed round of financing today. Investors include Foundation Capital, XFund, PJC, Precursor Ventures, Liquid 2 Ventures,  SV Angel, Underscore VC, Alpha Bridge Ventures, April Underwood and more.

Cofounder and CEO Amrita Saigal says that Kudos is the first and only disposable baby diaper to earn the cotton natural seal from Cotton Inc. for having 100 percent cotton touching the baby’s skin instead of plastic. They’re also made with four times more plant-based materials than the top disposable diaper out there.

Disposable diapers are made up of many layers. Your average disposable diaper from brands like Huggies, Pampers, etc. employ petrochemicals, fabrics like polyester, and a whole lot of plastic. In fact, despite how soft it feels, most disposable diapers’ top sheet (the part that touches your baby’s skin) are made of plastic.

Kudos uses organic cotton in place of that, and focuses on using green materials, with the absorbent core of the diaper made of wood fluff pulp that is totally chlorine free and harvested through the Forest Stewardship Council.

All that said, Saigal explained that performance is just as important as the composition of the diaper, saying that most parents feel that going to a more eco-friendly product sometimes means trading on performance. She explained how parents often have a much higher standard for products for their babies than they do for their own products.

“When I’m thinking about feminine care products, I might go to an eco-friendly product and it’ll be a pain if it has a little bit less performance but I can handle that for myself,” said Saigal. “But with parents, if their kid gets a rash it affects their life and their sleep. When it comes to diapers, parents aren’t willing to give that same leeway for a sustainable product.”

You might be wondering, as I did, about the defensibility of a product like this. What’s to stop the big players from developing a more sustainable, cotton-based diaper.

According to Saigal, the big brands would need to overhaul their entire manufacturing process to switch from plastic to cotton. Saigal actually left a career at P&G, which is where she met Kudos’ diaper engineering advisor Jim Keighley (her former boss at P&G).

Here’s what he had to say about it, in a prepared statement:

Big brands would need to do a complete overhaul of their bonding equipment, since the pressure technology they and everyone else uses for bonding only works with plastic-based materials. It just won’t work with natural materials. That would take a big investment of time and money, while detracting from their flexibility to run current products, which are market leaders.

Kudos operates on a D2C subscription model, offering a monthly box based on your baby’s changing size and weight, for $78/month. Folks can also purchase a box (with a three to five day supply) a la carte for $14.

News: Goldman Sachs leads $202M investment in project44, doubling its valuation to $1.2B in a matter of months

The COVID-19 pandemic disrupted a lot in the world, and supply chains are no exception.  A number of applications that aim to solve workflow challenges across the supply chain exist. But getting real-time access to information from transportation providers has remained somewhat elusive for shippers and logistics companies alike.  Enter Project44. The 7-year-old Chicago-based company

The COVID-19 pandemic disrupted a lot in the world, and supply chains are no exception. 

A number of applications that aim to solve workflow challenges across the supply chain exist. But getting real-time access to information from transportation providers has remained somewhat elusive for shippers and logistics companies alike. 

Enter Project44. The 7-year-old Chicago-based company has built an API-based platform that it  says acts as “the connective tissue” between transportation providers, third-party logistics companies, shippers and the systems. Using predictive analytics, the platform provides crucial real-time information such as estimated time of arrivals (ETAs).

“Supply chains have undergone an incredible amount of change – there has never been a greater need for agility, resiliency, and the ability to rapidly respond to changes across the supply chain,” said Jason Duboe, the company’s Chief Growth Officer.

And now, project44 announced it has raised $202 million in a Series E funding round led by Goldman Sachs Asset Management and Emergence Capital. Girteka and Lineage Logistics also participated in the financing, which gives project44 a post-money valuation of $1.2 billion. That doubles the company’s valuation at the time of its Insight Partners-led $100 million Series D in December.

The raise is quite possibly the largest investment in the supply chain visibility space to date.

Project44 is one of those refreshingly transparent private companies that gives insight into its financials. This month, the company says it crossed $50 million in annual recurring revenue (ARR), which is up 100% year over year. It has more than 600 customers including some of the world’s largest brands such as Amazon, Walmart, Nestle, Starbucks, Unilever, Lenovo and P&G. Customers hail from a variety of industries including CPG, retail, e-commerce, manufacturing, pharma, and chemical.

Over the last year, the pandemic created a number of supply chain disruptions, underscoring the importance of technologies that help provide visibility into supply chain operations. Project44 said it worked hard to help customers to mitigate “relentless volatility, bottlenecks, and logistics breakdowns,” including during the Suez Canal incident where a cargo ship got stuck for days.

Looking ahead, Project44 plans to use its new capital in part to continue its global expansion. Project44 recently announced its expansion into China and has plans to grow in the Asia-Pacific, Australia/New Zealand and Latin American markets, according to Duboe.

We are also going to continue to invest heavily in our carrier products to enable more participation and engagement from the transportation community that desires a stronger digital experience to improve efficiency and experience for their customers,” he told TechCrunch. The company also aims to expand its artificial intelligence (AI) and data science capabilities and broaden sales and marketing reach globally.

Last week, project44 announced its acquisition of ClearMetal, a San Francisco-based supply chain planning software company that focuses on international freight visibility, predictive planning and overall customer experience. WIth the buy, Duboe said  project44 will now have two contracts with Amazon: road and ocean. 

“Project44 will power what they are chasing,” he added.

And in March, the company also acquired Ocean Insights to expand its ocean offerings.

Will Chen, a managing director of Goldman Sachs Asset Management, believes that project44 is unique in its scope of network coverage across geographies and modes of transport.  

“Most competitors predominantly focus on over-the-road visibility and primarily serve one region, whereas project44 is a truly global business that provides end-to-end visibility across their customers’ entire supply chain,” he said.

Goldman Sachs Asset Management, noted project44 CEO and founder Jett McCandless, will help the company grow not only by providing capital but through its network and resources.

News: Max Q: Selling space

Max Q is a weekly newsletter from TechCrunch all about space. Sign up here to receive it weekly on Mondays in your inbox. This week actually includes two, since I was out last week for a Canadian national holiday (and back today for the U.S. one, ironically). There’s plenty to cover, including Blue Origin’s bidding

Max Q is a weekly newsletter from TechCrunch all about space. Sign up here to receive it weekly on Mondays in your inbox.

This week actually includes two, since I was out last week for a Canadian national holiday (and back today for the U.S. one, ironically). There’s plenty to cover, including Blue Origin’s bidding process, lunar landers, spaceships launching at sea and the return of our very own space event.

Blue Origin’s big bid

Blue Origin is auctioning off one seat on its first ever human spaceflight, and the bidding got started at $1.4 million — or at least, the public bidding started there. Before last week, people had been submitting blind bids, but now Blue Origin is posting the top current bid to its website whenever it hits a new high. It’s currently set at $2.8 million, meaning it’s doubled since the bids opened up to public scrutiny, and presumably FOMO.

Everything’s building up to June 12, when the auction will conclude with a live, real-time online competitive bidding round. Seems likely it’ll at least cross the $3 million mark before all’s said and done, which is good news for Blue Origin, since run-of-the-mill tickets for the few minutes in suborbital space going forward will probably end up more in the hundreds of thousands of dollars range.

The winning bidder will be flying on July 20, if all goes to the current plan, and will be accompanied by other passengers selected by Blue Origin through some other mechanism. We don’t yet know who else will be on the ride. Bezos maybe?

SpaceX’s Deimos spaceport is under construction

ENSCO offshore oil rig like the one SpaceX is converting

ENSCO offshore oil rig like the one SpaceX is converting.

SpaceX is really flexing its sci-fi-made-real muscle with its latest move: The company is turning two offshore oil rig platforms into floating spaceports, and one of the two, codenamed ‘Deimos’ after one of Mars’ moons, is already being worked on. SpaceX CEO Elon Musk shared that the company is hoping to have it ready for operations next year, meaning it could host actual launches in 2022.

Eventually, Deimos and its twin, Phobos, will provide launch and landing services to SpaceX’s first fully reusable launch vehicle — Starship. Starship only just managed to land successfully after a high, but still very much atmospheric flight test, however, so it has a way to go before it’s making amphibious departures and arrivals using the converted oil platforms.

Putting these in the ocean presumably helps solve some key issues, not least of which is being mindful of the impact of launching absolutely massive rockets on land anywhere near people. Ditto the landings, which at least early on, are bound to be risky affairs better carried out with a buffer of surrounding ocean.

Landers; lunar ones

Lander Rover

Concept graphic depicting ispace’s HAKUTO-R lander and rover.

There’s quite a bit of lunar lander news this week, including Japan’s ispace revealing that it’ll provide commercial lunar lander service to both Canada and Japan, with a ride for both provided by SpaceX and its Falcon 9 rocket. These will be two separate missions, with the first one set for next year, and the second one set to take place in 2023.

Both will use ispace’s Hakuto-R lander, which it originally developed to take part in the Google-backed Lunar XPRIZE competition. That ended without a winner, but some companies, including ispace, continued to work on their landers with an eye to commercialization. The Hakuto-R being sent on behalf of JAXA will carry an adorable ball-shaped Moon robot which looks like a very novel take on a rover.

Meanwhile, GM announced this past week that it’s working with space industry veteran Lockheed Martin to develop a next-gen Moon rover that will provide future lunar astronauts with more speed and greater range. GM and Lockheed will still have to win a NASA contract in order to actually make the thing, but they’re clearly excited about the prospect.

TC Sessions: Space is back in December

Last year we held our first dedicated space event, and it went so well that we decided to host it again in 2021. This year, it’s happening December 14 and 15, and it’s once again going to be an entirely virtual conference, so people from all over the world will be able to join.

We had an amazing line-up of guests and speakers at last year’s event, including Rocket Lab’s Peter Beck, NASA’s Kathy Lueders and more, and we’re already working on a fantastic follow-up agenda that’s sure to thrill all kinds of space fans.

You can already get tickets, and if you get in early, you save $100.

News: Equity Tuesday: Everyone is raising money at the same time

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines. This is Equity Monday Tuesday, our weekly kickoff that tracks the latest private market news, talks about the coming week, digs into some recent funding rounds and mulls over a larger theme or narrative from the private markets.

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines.

This is Equity Monday Tuesday, our weekly kickoff that tracks the latest private market news, talks about the coming week, digs into some recent funding rounds and mulls over a larger theme or narrative from the private markets. You can follow the show on Twitter here and myself here.

We are back from a long weekend here in America. But not break here in the States can stop the flow of global tech news. So, here’s the rundown:

Welcome back, America, to the week. It’s nice to see you, everyone else. Maybe Robinhood will file this week.

Equity drops every Monday at 7:00 a.m. PST, Wednesday, and Friday at 6:00 AM PST, so subscribe to us on Apple PodcastsOvercastSpotify and all the casts!

News: Hackers are targeting employees returning to the post-COVID office

With COVID-19 restrictions lifting and employees starting to make their way back into offices, hackers are being forced to change tack. While remote workers have been scammers’ main target for the past 18 months due to the mass shift to home working necessitated by the pandemic, a new phishing campaign is attempting to exploit those

With COVID-19 restrictions lifting and employees starting to make their way back into offices, hackers are being forced to change tack. While remote workers have been scammers’ main target for the past 18 months due to the mass shift to home working necessitated by the pandemic, a new phishing campaign is attempting to exploit those who have started to return to the physical workplace.

The email-based campaign, observed by Cofense, is targeting employees with emails purporting to come from their CIO welcoming them back into offices.

The email looks legitimate enough, sporting the company’s official logo in the header, as well as being signed spoofing the CIO. The bulk of the message outlines the new precautions and changes to business operations the company is taking relative to the pandemic.

If an employee were to be fooled by the email, they would be redirected to what appears to be a Microsoft SharePoint page hosting two company-branded documents. “When interacting with these documents, it becomes apparent that they are not authentic and instead are phishing mechanisms to garner account credentials,” explains Dylan Main, threat analyst at Cofense’s Phishing Defense Center.

However, if a victim decides to interact with either document, a login panel appears and prompts the recipient to provide login credentials to access the files.

“This is uncommon among most Microsoft phishing pages where the tactic of spoofing the Microsoft login screen opens an authenticator panel,” Main continued. “By giving the files the appearance of being real and not redirecting to another login page, the user may be more likely to supply their credentials in order to view the updates.”

Another technique the hackers are employing is the use of fake validated credentials. The first few times login information is entered into the panel, the result will be the error message that states: “Your account or password is incorrect.”

“After entering login information a few times, the employee will be redirected to an actual Microsoft page,” Main says. “This gives the appearance that the login information was correct, and the employee now has access to the OneDrive documents. In reality, the threat actor now has full access to the account owner’s information.”

While this is one of the first campaigns that’s been observed targeting employees returning to the workplace (Check Point researchers uncovered another last year), it’s unlikely to be the last. Both Google and Microsoft, for example, have started welcoming staff back to office cubicles, and the majority of executives expect that at least 50% of employees will be back working in the office by July, according to a recent PwC study.

“We saw threat actors follow the trends throughout the pandemic, and we expect they are likely to leverage themes of returning to work in their attacks in the coming months,” Tonia Dudley, a strategic advisor at Cofense, told TechCrunch. “We can expect remote workers to continue to be targeted as well. While employers begin to bring staff back to the office, it’s likely we’ll see a hybrid model of work moving forward. Both groups will be targets for phishing attacks.”

Threat actors typically adapt to exploit the global environment. Just as the shift to mass working over remote connections led to an increase in the number of attacks attempting to exploit remote login credentials, it’s likely the number of attacks targeting on-premise networks and office-based workers will continue to grow over the coming months.

News: Redacted comes out of stealth with $60M in funding and a new take on fighting cybercrime

The cybersecurity industry has no shortage of technology to fight against network intruders, app corrupters, email hackers and other cyber criminals. Today a startup called Redacted is coming out of stealth with a different approach to tackling malicious activity — it applies threat intelligence, and then proactively goes after the hackers to recover data loss

The cybersecurity industry has no shortage of technology to fight against network intruders, app corrupters, email hackers and other cyber criminals. Today a startup called Redacted is coming out of stealth with a different approach to tackling malicious activity — it applies threat intelligence, and then proactively goes after the hackers to recover data loss and disrupt their activities announcing some funding to build out its business — and announcing $35 million in funding to fuel its growth.

The Series B is being led by Ten Eleven Ventures, with participation from Valor Equity Partners and SVB Capital. (Ten Eleven is a VC specializing on cybersecurity that has backed a number of other startups.) It brings the total raised by Redacted — which it specifically styles “[redacted]”…with brackets — to $60 million.

It’s always interesting when a startup comes out of nowhere with a substantial about of VC backing, but it’s almost always because that startup has some interesting pedigree, and that is the case here. The company is led by Max Kelly, who was previously the chief security officer at Facebook and before that held roles at the National Security Agency and U.S. Cyber Command. His co-founder, John Hering, was the founder and CEO of cybersecurity firm Lookout. The startup is populated out with a bigger team that the startup likes to say has “more than 300 years of combined experience” in cyber defense with experience at Facebook, Amazon, NASA JPL, Symantec, Cisco, FBI, CIA, NSA, DIA, Army, Air Force, Navy, US Marine Corps, US Cyber Command, the UK’s GCHQ.

I’d actually heard about the company before — it works with another cyber startup I’ve covered called Cado, which provides cyber forensics tools to Redacted (among others) — but when I mentioned I’d heard of the company previously, they suggested it was because I’d covered Ocado and its move into the U.S. market, so while Redacted is not particularly forthcoming about its customers, I guess that this grocery giant might be one of them.

The core of what Redacted does comes out of direct experience that Kelly said he had while working at Facebook, where he both built in-house threat response tools but also worked with third-party vendors to secure the social networking giant’s systems, employees and users.

“A big focus of the industry in last 10 years was preventing the breach,” Kelly said. “But that was always a lie. There is nothing you can do to prevent a breach. The point is not to prevent the breach but the damage from it. Make sure people can’t get data out, and if they do, make sure you can get it back.”

There was also the issue of the size of Facebook itself.

“We couldn’t buy any security tools that worked because of the scale of the company,” he said. “So we thought about it and decided that the best approach would be to ask who is doing this, get them to stop.”

In an environment where cybercrime has taken on the profile of some of the most advanced innovations in technology, with both bad actors and security apps and services leaning on artificial intelligence and automation to do their work, it sounds almost too human an approach. But from how Kelly describes it, it sounds like there is a very human face to cybercrime, and the mere fact of identifying bad actors can get them to retreat.

It’s also a highly technical operation: the startup has also built tools, with some of its own tech and leaning on tech built by others, to find patterns in the work that cybercriminals do and eventually track them to where they are.

“If they’re in a place where they can be touched by law enforcement, that can be used to get them to stop,” he said. “But if not, then it’s just the awareness that they’d been seen and that generally causes them to retreat.”

The mix of what Redacted has built to date, he says, is being aimed at smaller, mid-sized and slightly larger corporates, particularly those that are not capable of building tools like this themselves.

The name, meanwhile, in my opinion says something about the nimble, but also very focused, approach the startup is taking. It comes from a period when the company hadn’t yet come up with a name for itself but was already operating commercially while in stealth mode (which actually is very standard among cybersecurity startups, I’ve found, who don’t really want a lot of attention for obvious reasons).

“We used it as a placeholder, but I realized, as I talked to people, that they were using the name “Redacted” when referring to us,” Kelly said. He looked up redacted.com and saw it was available. “It was the universe telling me to use the name,” he said with a little smile.

“With the industry’s most advanced pursuit capabilities, Redacted has the power to teach attackers that companies will hold them accountable for attacks,” said Alex Doll, founder and managing general partner at Ten Eleven Ventures, in a statement. “Redacted’s cloud-native security platform also enables them to protect and defend companies that run their operations within a modern cloud architecture. Together, these features enable [redacted] to offer the most holistic and proactive security solution for companies in today’s elevated threat environment.” Doll is joining the board with this round.

News: Cloudera to go private as KKR & CD&R grab it for $5.3B

Cloudera was once one of the hottest Hadoop startups, but over time the shine has come off that market, and today it went private as KKR and Clayton, Dubilier & Rice, a pair of private equity firms announced they intended to purchase Cloudera for $5.3 billion. The company has a market cap of around $3.7

Cloudera was once one of the hottest Hadoop startups, but over time the shine has come off that market, and today it went private as KKR and Clayton, Dubilier & Rice, a pair of private equity firms announced they intended to purchase Cloudera for $5.3 billion. The company has a market cap of around $3.7 billion.

Cloudera and Hortonworks, two key startups in the Hadoop space, merged in 2018 for $5.2 billion.Cloudera was likely under pressure from activist investor Carl Icahn, who took an 18% stake in the company in 2019 and now stands to gain from the sale, which the company stated represented a 24% premium for shareholders at $16 a share. Prior to the market opening this morning, the stock was sitting at $12.86.

Back in the day, about a decade ago, when Hadoop was the way to process big data, venture money was pouring into the space. Over time it lost some of its glow. That’s because it was highly labor intensive, and companies began moving to the cloud and looking at software services that did more of the work for them. More modern technologies like data lakes began replacing it and the company recognized that it must change its approach to survive in the modern data processing marketplace.

Cloudera CEO Rob Bearden sees the transaction as a way to do just that. “We believe that as a private company with the expertise and support of experienced investors such as CD&R and KKR, Cloudera will have the resources and flexibility to drive product-led growth and expand our addressable market opportunity,” Bearden said in a statement.

While there is a lot of executive jargon in that statement, it basically means that the company hopes that these private equity firms can give it some additional financial resources to move towards a more modern approach for processing large amounts of data.

While it was at it, Cloudera also announced a couple of acquisitions of its own to help it move towards that modernization goal. For starters it grabbed Datacoral, a startup that abstracts away the infrastructure needed to build a data pipeline without using code. It also acquired Cazena, a startup that helps customers build cloud data lakes, giving the company a more modern approach to processing big data.  Bearden sees both of these services helping Cloudera reposition itself in the big data self-service market

“Both businesses will enable our combined customers to enjoy a reduction in complexity and faster time to value for their data initiatives, leading to improved insights, faster innovation, and stronger engagements with their customers and partners,” Bearden said in a statement.

Cloudera went public in 2018, closing at $18.09 a share after raising a $1 billion. The vast majority of that was a $740 million investment from Intel Capital in 2014.

Hortonworks raised another $248 million. A third Hadoop startup, MapR raised $280 million. The company’s assets were sold rather unceremoniously to HPE in 2019 for a price pegged at under $50 million, showing just how far the market has fallen since its earlier glory days.

The Cloudera deal includes a brief “go shop” provision that allows it continue to look for a better deal. It’s doubtful it will find one, and if it doesn’t the transaction with KKR and CD&R is expected to close in the second half of this year subject to typical regulatory review. The company will announce earnings later today.

News: Kushki, an Ecuador-based fintech, raises $86M to build financial infrastructure in Latam

Just about every week there’s a blockbuster round coming out of South America, but in certain countries such as Ecuador, things have been more hush hush. However, Kushki, a Quito-based fintech, is bringing attention to the region with today’s announcement of a $86 million Series B and a $600 million valuation. “We never thought that

Just about every week there’s a blockbuster round coming out of South America, but in certain countries such as Ecuador, things have been more hush hush. However, Kushki, a Quito-based fintech, is bringing attention to the region with today’s announcement of a $86 million Series B and a $600 million valuation.

“We never thought that we would return home [from the U.S.] and build a company that was more valuable in Ecuador than we had built in the U.S.,” said Aron Schwarzkopf, CEO and co-founder of Kushki.

Schwarzkopf and his business partner, Sebastián Castro, had previously built and sold a fintech called Leaf in the U.S. in 2014. The two are originally from Ecuador but moved to Boston for college, where they met watching soccer.

Unlike many other fintechs in Latam that are out to help the unbanked, Kushki works behind the scenes building the tech infrastructure that companies like Nubank use to transfer money. Some of the functionalities they build enable both local and cross-border payment players in credit and debit cards, bank transfers, digital cash, mobile wallets, and other alternative payment methods.

“We realized there was a gigantic opportunity to democratize and create infrastructure to move money,” Schwarzkopf told TechCrunch.

The company, which was founded in 2017, already has operations in Mexico, Colombia, Ecuador, Peru, and Chile. The Series B will be used to accelerate growth and expand to Brazil and nine other markets in Central America.

Generally, expanding to Brazil is an expensive proposition, and therefore not a path that all companies can take, even though it can be an extremely profitable move if done right. Some of the challenges include the need to translate everything into Portuguese followed by the varying financial regulations.

That’s why Kushki’s approach has to be somewhat custom in each country.

“We focus on going into the markets and we basically rebuild an entire infrastructure, so we put everything into one API,” said Schwarzkopf.

Products similar to Kushki have been successful in other regions around the world, such as in India with Pine Labs, Africa with Flutterwave, and Checkout.com that now has 15 international offices.

To build all this infrastructure, Kushki, which means “cash” in a native Andes dialect, has raised a total of $100 million from SoftBank, an undisclosed global growth equity firm, as well as previous investors including DILA Capital, Kaszek Ventures, Clocktower Ventures, and Magma Partners.

“From now until 2060, people will need servers and ways to move money, and we knew that the existing payment infrastructure couldn’t support that,” said Schwarzkopf.

News: EU’s COVID-19 ‘digital pass’ gateway system goes live

A technical system underpinning the European Union’s plan for a pan-EU ‘digital pass’ for verifying COVID-19 vaccination or test status across the region has gone live today, with a handful of EU Member States connected to the gateway and more expected to follow ahead of a July 1 full launch. The idea for the EU’s

A technical system underpinning the European Union’s plan for a pan-EU ‘digital pass’ for verifying COVID-19 vaccination or test status across the region has gone live today, with a handful of EU Member States connected to the gateway and more expected to follow ahead of a July 1 full launch.

The idea for the EU’s COVID-19 digital certificate is to offer a single system for securely verifying EU citizens’ COVID-19 status — whether vaccination; a recent negative test; or proof of recovery from the virus — as they cross borders within the bloc to help facilitate safer travel.

The digital pass relies upon QR codes and digital signatures — verified using public key cryptography — to prevent falsification. Paper-based certificates can also be used by those who do have access to a device.

Member States that have passed technical tests and are ready to do so can start issuing and verifying certificates on a voluntary basis, the Commission said today — with seven countries (Bulgaria, Czechia, Denmark, Germany, Greece, Croatia and Poland) intending to do so at this point.

Other countries have decided to launch the EU Digital COVID Certificate only when all functions are deployed nationwide, it added. Further details about Member States’ status on activating the system are available via this webpage.

Since 10 May, 22 EU countries have tested the gateway successfully, according to the Commission, which wants maximum update of the system by 1 July — when the associated regulation will apply.

Although it’s allowed a “phasing-in period” of six weeks for the issuance of certificates for Member States that need additional time to get everything hooked up. That means it’s possible the tardiest implementations could happen when summer is all but over. (An earlier goal of EU lawmakers that everything would be up and running everywhere by June always looked ambitious.)

The Commission says no personal data is “exchanged or retained” during the COVID-19 digital certificate verification process, noting that the signature keys for the verification are stored on servers at a national level. These keys can be accessed — via the gateway — by national verification apps or systems all across the EU.

The Commission has also developed reference software and apps for the issuance, storage and verification of certificates — which it’s published on GitHub — to support the rollout by EU Member States. The Commission said 12 Member States have made use of this code so far.

National authorities in respective EU countries are in charge of issuing the COVID-19 digital certificate to individuals — with various potential routes for citizens to obtain one, such as from a COVID-19 test centre or from their local health authority or directly via a national eHealth portal.

Commenting on the gateway launch in a statement, Stella Kyriakides, the EU’s commissioner for health and food safety, urged Member States to get on and complete their implementations.

“The EU Digital COVID Certificate shows the value added of effective e-health solutions for our citizens,” she said. “It is important that during the coming weeks, all Member States fully finalise their national systems to issue, store and verify certificates, so the system is functioning in time for the holiday season. EU citizens are looking forward to travelling again, and they want to do so safely. Having an EU certificate is a crucial step on the way.”

Also touching on the COVID-19 digital certification launch today, Commission president, Ursula von der Leyen, said the system will only be in place for one year — presumably that’s assuming the pandemic is actually over by summer 2022.

“The EU certificate is a prime example of digital tools that represent our values,” she said, in a speech addressing the 2021 Digital Assembly. “The EU values privacy. No personal data will be exchanged or retained. The EU is inclusive. Whoever is not vaccinated, can get a digital certificate for test or recovery. Whoever does not have a smartphone, can get it on paper. With the certificate, we want to help people to move freely in times of pandemic. This is why it will only be in place for one year. Europe is a front-runner here and can set standards at the global level.”

In the speech, the Commission’s president also trailed another incoming digital proposal which she said would provide Europeans with a trusted online ID they could use to interact with regional governments and businesses without being forced to hand over more data than is strictly necessary.

“We want to offer to Europeans a new digital identity. An identity that ensures trust and protects users online. We are about to present our proposal,” she said. “It will allow everyone to control their identity online, and to interact with governments and businesses, across the EU. Nobody should be forced to give more data away, than is necessary for the purpose at hand. To book a hotel room online, no-one needs to know where I am from and who my friends are. With our proposal, we are offering an alternative to the models of big online platforms. We believe in a human-centred digital transition.”

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