Daily Crunch: Lululemon is acquiring Mirror


Lululemon is paying $500 million to acquire a home fitness startup, India bans TikTok and Amazon Prime Video is the latest streaming service to add a co-viewing experience.

Here's your Daily Crunch for June 30, 2020.

1. Lululemon set to acquire home fitness startup Mirror for $500M

The deal comes at a time when home workout solutions are in high demand thanks to the COVID-19 pandemic. Even when gyms begin to reopen in different locales, many will likely be wary of returning to a potentially high-risk enclosed space, at least for as long as the virus continues to spread.

Although there's stiff competition in the category of connected fitness slabs, including Tonal and Tempo, Mirror continues to be the biggest name of the bunch. And the two companies have a relationship dating back to late last year, when Lululemon become an investor in Mirror.

2. TikTok goes down in India, its biggest overseas market

A growing number of internet service providers in India have started to block their subscribers from accessing TikTok a day after the Indian government banned the popular short-video app and 58 other services over security and privacy concerns.

3. Amazon Prime Video introduces 'Watch Party,' a social co-viewing experience included with Prime

Amazon is the latest streaming service to roll out built-in support for co-viewing. While the U.S. was sheltering in place under coronavirus lockdowns, a browser extension called Netflix Party went viral. So HBO partnered with the browser extension maker Scener to offer a "virtual theater" experience for co-watching, while Hulu launched its own native Watch Party feature for its "No Ads" subscribers on Hulu.com.

4. After losing Grubhub, Uber reportedly hails Postmates

Uber has reportedly made an offer to buy food delivery service Postmates, according to The New York Times. (The talks are still ongoing and the deal could fall through.)

5. 13 Boston-focused venture capitalists talk green shoots and startup recovery

This is the second half of our Boston investor survey. Looking to the future, we asked: Are investors seeing green shoots? When is a recovery likely to begin? What's making them feel hopeful in this tenuous era? (Extra Crunch membership required.)

6. Facebook says it will prioritize original reporting and 'transparent authorship' in the News Feed

The change comes as a number of high-profile companies have said that they will pull their advertising from Facebook as part of the #StopHateforProfit campaign, organized by civil rights groups as a way to pressure the social network to take stronger steps against hate speech and misinformation.

7. In a significant expansion, Spotify to launch real-time lyrics in 26 markets

Last November, Spotify confirmed it was testing real-time lyrics synced to music in select markets. Today, the company is announcing the launch of its new lyrics feature in 26 worldwide markets across Southeast Asia, India and Latin America.

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.


More Related News

New York City to seek assessment on internet providers to fund low-income service
New York City to seek assessment on internet providers to fund low-income service
  • US
  • 2020-07-07 17:47:07Z

New York City Mayor Bill de Blasio said on Tuesday the city would invest $157 million to expand high-speed internet service to low-income residents as part of a plan to offer universal broadband services to New Yorkers. The service would target 600,000 low-income residents, and to pay for it, de Blasio said the city would charge internet services providers for using the city's infrastructure. Over the next 18 months, the financially strapped city would fund the expansion of broadband service in part by diverting $87 million from the police budget, which is being cut, de Blasio said.

China trying to force Chinese nationals living in US to return home - FBI chief
China trying to force Chinese nationals living in US to return home - FBI chief
  • World
  • 2020-07-07 17:29:04Z

* Christopher Wray condemns Operation Fox Hunt campaign * 'A sweeping bid to target Chinese nationals Xi sees as threats'Chinese agents have been pursuing hundreds of Chinese nationals living in the US in an effort to force their return, as part of a global campaign against the country's diaspora, known as Operation Fox Hunt, the FBI director has said.In a speech about the security threat posed by China, Christopher Wray gave the example of one Fox Hunt target who was given a choice of going back to China or killing themselves.Fox Hunt was launched six years ago by President Xi Jinping, ostensibly to pursue corrupt officials and business executives who had fled abroad. Beijing has...

TikTok to exit Hong Kong
TikTok to exit Hong Kong 'within days'

The move by the short-form video app comes after China imposed its new security law on the city.

Pompeo says U.S. looking at banning Chinese social media apps, including TikTok
Pompeo says U.S. looking at banning Chinese social media apps, including TikTok

"I don't want to get out in front of the President (Donald Trump), but it's something we're looking at," Pompeo said in an interview with Fox News. U.S. lawmakers have raised national security concerns over TikTok's handling of user data, saying they were worried about Chinese laws requiring domestic companies "to support and cooperate with intelligence work controlled by the Chinese Communist Party." Pompeo's remarks also come amid increasing U.S.-China tensions over the handling of the coronavirus outbreak, China's actions in Hong Kong and a nearly two-year trade war.

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply


Top News: Economy