If you enjoyed the newsletter, please share it with a friend who’d find it useful.
Jeff Bezos’ Earth Fund Doles Out Millions to Groups Fighting Off Climate Change
Jeff Bezos’ Earth Fund is worth $10 billion. In the latest installment, the fund has decided to disburse $203.7 million in new grants.
Of this installment, the largest chunk of disbursement will happen in collaboration with the Biden administration.
Following up a prior announcement, dating back to January this year, this chunk of $130 million will go into backing a Biden administration initiative known as Justice40 and organizations that support it.
More than $53 million from the rest will go into augmenting communication channels that work on climate change and efforts to cut business emissions.
Another $20 million will go into funding groups that focus on climate justice. Climate justice efforts aim to stop the negative impact climate change has on marginalized communities.
The allocation announcement this time came after Bezos received criticism from climate change activists for not disbursing enough funds for communities who work on the frontlines of this global crisis.
Last year’s allocation of $791 million went into backing big green groups, namely the World Wildlife Fund and Environmental Defense Fund.
SEC-Coinbase Feud Over Lend Feature
As reported by Coinbase’s Chief Legal Officer, the Security and Exchange Commission of the United States has threatened to sue the globally popular crypto exchange if it launches its lend feature.
The feature lets people lend cryptocurrency from the exchange.
According to Coinbase CEO Brian Armstrong, the exchange had only informed the SEC about its feature as a courtesy.
It was taken aback by the resistance it received from the regulatory body, especially in a market where many exchanges already have a similar feature.
The SEC said that it would consider the lending feature to be a security and regulate it as it does to an investment.
Coinbase has disputed the classification and awaits a clearer explanation from the SEC on how and why it is judging lend to be a security.
Android 12’s Final Beta Comes With Makeovers and Widgets
Google has released the final Android 12 Beta. Among new things introduced in this Beta version are a beautiful geometric clock widget, a redesigned calculator and a new shortcut to the screen lock.
The clock app has an updated design, new animations and colours responsive to the phone’s theme.
The lock screen feature, newly introduced, comes with a new device control shortcut. It would have the capacity to control smart home devices with the tap of a button.
Owners of Pixel, who are running the beta now, reportedly have access to an improved search bar. With the search string typed on the search bar, you get to see matching settings, contacts and more.
Printify Raises $45 Million
Printify is a Latvia-based on-demand custom printing startup. The venture raised $45 million in its series A round.
The funding was led by Index Ventures. Other investors that participated in the round included H&M Group, Virgin Group, the founders of Transferwise, Vinted, Squarespace, RedHat, and Will Smith’s Dreamers VC.
According to estimates, Printify has a valuation of more than $300 Million at present.
At present, Printify connects nearly two million merchants with print providers across the world. With an employee base of almost 500 people, Printify is shipping a million units per month.
While it plans to add another 200 people by the end of this year, the vision of the company remains to grow its global marketplace of print shops.
At present, Printify’s target audiences are creators and entrepreneurs who want to build a side-business and earn money, parallel to their primary revenue stream.
However, the company is growing in its scope as several creators and entrepreneurs are leveraging Printify to serve the core of their business.
AROUND THE WEB
? Rocket Lab’s First Revenue Report Since Going Public: U.S.-New Zealand company Rocket Lab reported revenues of $29.5 million for the first six months of 2021.
? Khosla Ventures Backs PolyAI: London-based conversational AI startup PolyAI has raised $14 million in a funding round led by Silicon Valley’s Khosla Ventures.