Three digital media veterans are launching a new paid subscription media company with a multi-million dollar Series A funding round led by 40 North Media, a related investment business of Standard Industries, and private equity giant TPG Growth, Axios has learned.
Driving the news: The co-founders of the new company are Joe Purzycki, co-founder of the podcast company Luminary, Jon Kelly, a former New York Times editor and founder of Vanity Fair’s "The Hive," and longtime digital media executive and early Athletic employee Max Tcheyan.
Cryptocurrency exchange Coinbase opened trading on Wednesday at $381 per share, giving it a fully diluted market value of around $102 billion.
Why it matters: This is a slight premium to the most recent private trades for Coinbase stock, and more than 50% higher than the reference price set last night by the Nasdaq.
In the past year as the pandemic raged on, some of the world's most valuable companies continued to grow and compensate their workers well above national medians — interns included.
Co-Star, the maker of an astrology app, has raised $15 million in Series A funding led by Spark Capital, with Maveron, Female Founders Fund, and all existing investors also participating.
Why it matters: The company says it has more than 20 million app downloads without any real marketing efforts, and has been downloaded by a quarter of all young women ages 18-25 in the U.S.
Coinbase plans to go public on Wednesday, in a watershed moment for the cryptocurrency industry.
Axios Re:Cap speaks with Coinbase president and COO Emilie Choi about how she thinks about crypto, why Coinbase eschewed a traditional IPO and if we’re ever going to use bitcoin to buy a cup of coffee.
Apple sent out invitations to the media on Tuesday for an April 20 event where it is likely to debut new hardware.
Why it matters: Apple has yet to introduce a number of products that have been long anticipated, including updates to the iPad as well as AirTags — small devices that can help keep tabs on physical objects.
Facebook's independent Oversight Board said Tuesday that it will now begin accepting user appeals to remove other people's content from Facebook and Instagram.
Why it matters: Until this point, users could only appeal decisions for content they thought needed to be restored.
Professional political trolling is still a thriving underground industry around the world, despite crackdowns from the biggest tech firms.
Why it matters: Coordinated online disinformation efforts offer governments and political actors a fast, cheap way to get under rivals' skin. They also offer a paycheck to people who are eager for work, typically in developing countries.
