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In Today’s Edition
How immi's Founders Built a Strong Brand
SpaceX Tender Offer Said to Value Company at Record $210 Billion
TikTok Shop is holding a 'Deals For You Days
Apple developing new way to make iPhone batteries easier to replace
Researchers grow 3D brain models using cells from different people
German firm Synhelion opens ‘world's 1st' industrial solar fuel plant
Make your money rise and grind while you sit and chill, with the automated investing and savings app that makes it easy to be invested.
🚀Startups Nuts
A startup called immi used creative marketing strategies to generate leads and build a loyal community before launching its product. It experimented with various organic and paid efforts, such as engaging with potential customers on Reddit, creating authentic email flows, and running a private Facebook group. By focusing on one marketing channel at a time and constantly iterating, it was able to drive significant revenue and organic traffic.
Other News
Rohlik, a Czech grocery delivery company, raised $170m
Hebbia, a New York-based document search AI startup, raised nearly $100m in Series B funding
Clay, a New York sales and marketing AI startup, raised $46m in Series B funding at a $500m valuation
Clearstory, a Walnut Creek, Calif., change order management platform for construction, raised $16m in Series B funding
MagicSchool AI, a Boulder, Colo.-based K12 tech platform focused on preventing teacher burnout, raised $15m in Series A funding
Libattion, a Swiss provider of energy storage solutions from upcycled EV batteries, raised €14m
Bling, a German family fintech app, raised $12m in Series A funding
🏭Business Nuts
SpaceX will sell insider shares at $112 each in a tender offer that values the company at close to $210 billion. The company was valued at $180 billion in December. The new valuation is a record for an American private company. It puts SpaceX on par with some of the world's largest publicly traded companies by market capitalization. Terms on the tender offer haven't been finalized - the size of the offer could change depending on interest from both insider sellers and buyers.
Other News
TikTok Shop is holding a 'Deals For You Days' sales event in the US starting on July 9.
Amazon became the fifth US company to hit a $2T valuation this week, joining Apple, Alphabet, Microsoft, and Nvidia.
Uber will give 175 people in select US and Canadian cities $1k to spend on Uber, public transit, and other modes of transit if they give up their car for five weeks.
NASA has awarded SpaceX $843M to develop and build a space vehicle to safely remove the International Space Station from orbit around 2030. Launch costs for the vehicle, which NASA will own and operate, will be procured separately.
Webtoon Entertainment's shares surged nearly 10% on their first trading day after a successful IPO, raising $315 million and valuing the company at approximately $2.67 billion. The platform, known for its vertical scroll format, boasts 170 million monthly active users globally.
Alumis, a South SF-based precision immunology company, raised $210m in its IPO. It priced 13.1m shares at $16, versus plans to sell 17.7m shares at $16-$18. It will list on the Nasdaq (ALMS), and had raised over $630m.
Andretti Acquisition II, a SPAC whose management team included racecar driver Michael Andretti, filed for a $200m IPO. The first Andretti SPAC merged with Zapata AI, and is down 94% from its $10 offer price.
LandBridge, a Delaware Basin-focused oil property acquirer formed by Five Point Energy, raised $247m in its IPO. It priced at $17 (below $19-$22 range), and will list on the NYSE (LB).
Nokia (NYSE: NOK) agreed to buy Infinera (Nasdaq: INFN), a San Jose, Calif., optical telecom equipment maker, for $2.3b in cash and stock, or $6.65 per share (28% premium to Wednesday's closing price).
📱Tech Nuts
Apple is reportedly investigating 'electrically induced adhesive debonding' technology to make iPhone batteries more replaceable. The technology would allow a battery to be dislodged from its chassis with a small jolt of electricity to the battery. It could debut with at least one of the iPhone 16 models this year.
Other News
The Meta Large Language Model Compiler is a suite of models designed to emulate the compiler, predict optimal passes for code size, and disassemble code.
Google Translate added 110 new languages, including Cantonese and Punjabi, with the help of its PaLM 2 language model.
NBC will have sportscaster Al Michaels host daily recaps of the Paris Olympics on Peacock — kinda. The network is using AI to recreate Michaels’ voice and generate his narration of the 10-minute recaps.
Bag brand Baggu is facing backlash after customers discovered that a special-edition collaboration with the brand Collina Strada used Midjourney to create some of the colorful prints.
Researchers grow 3D brain models using cells from different people in a single organoid for the first time; approach may lead to methods to test new drugs without needing human patients.
OpenAI strikes multiyear licensing deal with Time magazine; deal gives OpenAI access to 101 years of Time content to train its models, allows Time to use OpenAI's technology to develop new products.
🎁Miscellaneous
DAWN is a project from Synhelion that aims to remove the dependency on fossil fuels from the transport sector, particularly in aviation. It uses a 65-foot-high solar tower surrounded by a mirror field that concentrates solar rays to produce synthetic fuels using solar heat. The tower has an energy storage system that allows it to generate solar fuel even when there's no sunlight. DAWN is scheduled to begin production in the latter half of the year. Synhelion says DAWN will produce several thousand liters of fuel per year.
💡What else are we reading and seeing?
Learning from popup villages
On Claude 3.5 Sonnet
The Nvidia spell has been broken
Are coding jobs at risk with the rise of AI?
Is this the Tesla robotaxi killer? Meet the 'Verne’
Private debt is trouncing private equity so far this year
AI pictures are like if dreams could take photographs
OpenAI's new “CriticGPT” model is trained to criticize GPT-4 outputs
Inside the players and politics of the modern AI industry
I've gone back to my thinking about the long-term consequences of Altman's coup
We'd all get a hell of a lot more done if humans had a natural mating season
😎Fun Fact
On this day: In 1971, Elon Musk born
🔥 Few tools many people are finding useful
Eureka Health - The world’s first AI doctor (currently specializes in thyroid and diabetes)
Retrieve API by MultiOn - The best-in-class autonomous web information retrieval API
Character Calls by C.AI - Talk with AI characters, just like you would talk on the phone
Manifest AI - Deploy an AI shopping assistant on your ecommerce store
Lume - Automate data mappings using AI
Quill AI - Use LLMs to speed up the equity research
🐦Joke of the Day
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