Under Armour Sells MyFitnessPal for $345M to Refocus on Core Brand

In a significant move, Under Armour is offloading MyFitnessPal after five years of ownership. The fitness tracking app, originally acquired for $475 million, is now being sold to Francisco Partners for $345 million. Alongside this sale, Under Armour is also shutting down the Endomondo platform. The company claims this decision allows them to focus on their core brand, targeting the 'Focused Performer'. However, the reduced sale price hints at possible struggles in the competitive fitness market, where giants like Peloton and Apple's Fitness+ are making strong strides.

Uber Eats is under scrutiny after allegations of discrimination surfaced regarding its free delivery policy for Black-owned restaurants. The company has received over 8,500 demands for arbitration following the implementation of free delivery for some Black-owned businesses. Uber claims its intentions were to support these restaurants, but critics argue it has inadvertently created confusion and inconsistency in its policies. This controversy highlights the challenges tech companies face in ensuring equitable treatment across their services.

Facebook is taking steps to limit the spread of QAnon-related content on its platform. The social media giant has restricted the distribution of the 'save our children' hashtag, which has been used to propagate the popular conspiracy theory. By tightening these controls, Facebook aims to reduce the visibility of harmful misinformation. This move is part of broader efforts to regulate content and prevent the spread of extremist ideologies online.

Reliance Jio Platforms has surpassed 400 million subscribers, marking a significant milestone for the telecom operator. Backed by Facebook and Google, Jio has seen robust growth despite the challenges posed by the global pandemic. The company is now exploring opportunities to expand its services beyond India, aiming to capture a larger share of the international market. This achievement underscores Jio's strong position in the competitive telecommunications landscape.

The startup ecosystem continues to buzz with exciting developments. Daimler has invested in lidar company Luminar, signaling a push towards autonomous trucking on highways. Luminar is set to become a publicly traded company through a merger with Gores Metropoulos. Meanwhile, Nestlé has acquired healthy meal startup Freshly for up to $1.5 billion, enhancing its foothold in the home-delivered meal market. Additionally, B8ta remains optimistic about in-person shopping trends by making a new acquisition, offering unique shelf space for digital products.

Extra Crunch provides insightful analysis on current tech trends. New GV partner Terri Burns introduces her investment focus on Generation Z, bringing fresh perspectives as the firm's youngest and first Black female partner. There's also ongoing debate about whether the tech rally of 2020 is slowing down, especially with factors like COVID-19, social unrest, and inflated valuations coming into play. Extra Crunch continues to democratize startup information, encouraging readers to join their membership program for more in-depth insights.

Today's tech landscape is marked by strategic shifts, regulatory challenges, and dynamic growth in startups. From Under Armour's strategic divestments to Facebook's content regulation efforts, companies are navigating a complex environment to stay competitive and responsible. The impressive subscriber growth of Reliance Jio Platforms and significant investments in startups highlight the ongoing innovation and investment in the tech sector. As the industry evolves, staying informed through reliable sources like Daily Crunch ensures you stay ahead of the curve.