Daily Crunch: Apple blames coronavirus for revenue miss
Apple says the coronavirus outbreak will hurt its manufacturing and sales, Jeff Bezos makes a big commitment to fighting climate change and SpaceX launches more Starlink satellites. Here's your Daily Crunch for February 18, 2020.
1. Apple will miss revenue forecast as coronavirus impacts its manufacturing and sales
In a letter to investors, Apple said that it "do[es] not expect to meet the revenue guidance we provided for the March quarter" due to impacts stemming from the coronavirus that has shuttered large parts of China, and is reverberating through the global economy.
As China's return to work has proved halting, and the coronavirus itself more intractable than some anticipated, the company's change in guidance is almost unsurprising - but that hasn't stopped Apple's stock price from falling this morning.
2. Jeff Bezos announced a $10 billion fund to fight climate change
Jeff Bezos announced on Instagram that he's creating a $10 billion fund to combat climate change. He said the Bezos Earth Fund will finance "scientists, activists, NGOs - any effort that offers a real possibility to help preserve and protect the natural world."
3. SpaceX successfully launches 60 more Starlink satellites but misses booster landing
SpaceX has launched a batch of 60 Starlink satellites into orbit, marking its fifth overall launch of a group of 60 of the small spacecraft, and its third this year alone. This launch brings the total Starlink constellation to 300 satellites in orbit, extending SpaceX's lead as the largest commercial satellite operator in the world.
4. Redbox enters the free, ad-supported streaming market
Oddly, Redbox Free Live TV isn't live at all - at least, not in the way that you'd get with a TV streaming service like YouTube TV or Hulu with Live TV. Instead, it offers a curated set of ad-supported movies and TV shows, similar to The Roku Channel, IMDb TV or TiVo Plus.
5. How TikTok decides who to make famous
The co-founders of video startup Trash take a deep dive into the TikTok ecosystem, particularly its extensive content moderation. (Extra Crunch membership required.)
6. Atomico raises new $820M fund to back 'mission-driven' European founders at Series A and beyond
The London-headquartered VC firm's previous fund closed at $765 million, so this is an increase over three years ago. However, the remit remains largely the same. Atomico says it plans to double down on its strategy of backing "mission-driven" European founders at Series A, but with the ability to invest in what it calls "breakout" companies at the Series B and C stage.
7. Black haircare startup Naza Beauty just raised $1 million from Alexis Ohanian's Initialized Capital
At its most basic level, it's like Drybar - with a menu of styles - but for women of color. On the tech side, Naza's software functions as a booking and payments platform, which also learns the styles of each customer and then makes product recommendations.
The Daily Crunch is TechCrunch's roundup of our biggest and most important stories. If you'd like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here.
