Daily Crunch: Coinbase goes public

Coinbase makes an impressive public debut, Dell spins out VMware and Ford announces a new hands-free driving system. This is your Daily Crunch for April 14, 2021.

The big story: Coinbase goes public

Cryptocurrency exchange Coinbase went public today via direct listing at an opening price of $381 per share, climbing to nearly $430 before closing at $328.28 (giving the company a market capitalization of $85.8 billion).

The listing is a major milestone for the cryptocurrency world (with various crypto prices soaring today as well), though there’s at least a tiny bit of irony in the fact that this success comes via the traditional stock market.

The tech giants

Dell is spinning out VMware in a deal expected to generate over $9B for the company — Dell acquired VMware as part of the massive $58 billion EMC acquisition in 2015.

Google’s FeedBurner moves to a new infrastructure but loses its email subscription service — Since its acquisition in 2007, FeedBurner lingered in an odd kind of limbo.

Instagram’s new test lets you choose if you want to hide ‘Likes,’ Facebook test to follow — The app has been experimenting with hiding Likes since 2019.

Startups, funding and venture capital

Astranis raises $250M at a $1.4B valuation for smaller, cheaper geostationary communications satellites — While a lot of other companies are looking to build satellite constellations in low-Earth orbit, Astranis is focused on the GEO band, where the large legacy communications satellites currently operate.

MIT startup Pickle raises $5.75M for its package-picking (Read more...)