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Tencent wants to take full control of long-time search ally Sogou – TechCrunch

It’s been seven years since Tencent picked up a 36.5% stake in Sogou to fend off rival Baidu in the online search market. The social and gaming giant is now offering to buy out and take private its long-time ally.

NYSE-listed Sogou said this week it has received a preliminary non-binding proposal from Tencent to acquire its remaining shares for $9 each American depositary share (ADS) it doesn’t already own. That means Sohu, a leading web portal in the Chinese desktop era and the controlling shareholder in Sogou, will no longer hold an interest in the search firm.

Sohu’s board of directors has not yet had an opportunity to review the proposal or determine whether or not to take the offer, the company stated. Sogou’s shares leaped 48% on the news to $8.51 on Monday, yet still far below its all-time high at $13.85 at the time of its

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SAP will spin out its $8B spin-in Qualtrics acquisition – TechCrunch

Well, this isn’t a story you see every day.

Less than two years after German software giant SAP snatched experience management platform Qualtrics for $8 billion days before the startup’s IPO debut, it has now decided to spin out the company in a brand new IPO.

https://techcrunch.com/2018/11/11/sap-agrees-to-buy-qualtrics-for-8b-in-cash-just-before-the-survey-software-companys-ipo/

In a press statement released Sunday, SAP said that Qualtrics had seen cloud growth “in excess of 40 percent” in a quote attributed to SAP CEO Christian Klein. The company will continue to be run by founder and former CEO Ryan Smith, who joined SAP with Qualtrics and led the organization within the German conglomerate.

SAP will retain majority ownership of the new spin out. Interestingly, the statement noted that “Ryan Smith intends to be Qualtrics’ largest individual shareholder.”

SAP’s press statement is vague, but the implication is that the move will offer Qualtrics more flexibility to engage with customers and partners

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What education do you need to build a great tech company? – TechCrunch

Editor’s note: Get this free weekly recap of TechCrunch news that any startup can use by email every Saturday morning (7am PT). Subscribe here.

The easy startup ideas have all been done — the ones that just required some homebrew hardware hacking or PHP dorm-room coding to get off the ground. These days, you might need multiple advanced technical degrees to accomplish something significant. At least that’s what Danny Crichton muses grimly this week, in an essay entitled “The two PhD problem of startups today.” Here’s one newsy example:

Take synthetic biology and the future of pharmaceuticals. There is a popular and now well-funded thesis on crossing machine learning and biology/medicine together to create the next generation of pharma and clinical treatment. The datasets are there, the patients are ready to buy, and the old ways of discovering new candidates to treat diseases look positively ancient against

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Black gig workers speak out, Uber’s commitment to being anti-racist and Facebook’s diversity report – TechCrunch

Welcome back to Tech at Work, a bi-weekly roundup and analysis of labor, and diversity and inclusion in tech. 

This week, we’re looking at Uber’s anti-racism commitment, Shipt shoppers walking off the job, Facebook’s diversity report and Black gig workers organizing against tech companies. Also, hear from CODE2040 CEO Karla Monterroso on tech’s response to the recent racial justice uprising in the U.S.

“There are a lot of really well-intentioned people, but they’re like, ‘Hey, put me in touch with all your Black and Latinx people,” Monterroso told me. “We have definitely gotten requests for free access to our talent pool. What we are talking through with people is even if you had access to that, your ability to make something of that is incredibly limited because the competencies needed to get people into the workforce, promote and retain them are not had by tech companies at this moment.”


Stay

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The Not Company, a maker of plant-based meat and dairy substitutes in Chile, will soon be worth $250M – TechCrunch

The Not Company, Latin America’s leading contender in the plant-based meat and dairy substitute market, is about to close on an $85 million round of funding that would value it at $250 million, according to sources familiar with the company’s plans.

The latest round of funding comes on the heels of a series of successes for the Santiago-based business. In the two years since NotCo launched on the global stage, the company has expanded beyond its mayonnaise product into milk, ice cream and hamburgers. Other products, including a chicken meat substitute, are also on the product roadmap, according to people familiar with the company.

NotCo is already selling several products in Chile, Argentina and Latin America’s largest market — Brazil — and has signed a blockbuster deal with Burger King to be the chain’s supplier of plant-based burgers. It’s in this Burger King deal that NotCo’s approach to

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Singaporean startup Partipost gets $3.5 million to let anyone become an influencer – TechCrunch

Partipost, a Singapore-based marketing startup that lets anyone with a social media profile sign up for influencer campaigns, has raised $3.5 million in new funding. The round was led by SPH Ventures, the investment arm of publisher Singapore Press Holdings, with participation from Quest Ventures and other investors.

The funding will be used to grow Partipost’s current operations in Singapore, Indonesia and Taiwan, and expand into Vietnam, the Philippines and Malaysia, other Southeast Asian markets with heavy social media usage. Since launching its mobile app in 2018, Partipost says it has added about 200,000 influencers to its platform, and that over the past 12 months, it has helped conduct 2,500 social media marketing campaigns for more than 850 brands, including Adidas, Arnott’s, Red Bull, Chope and Gojek.

According to benchmark report released in March by Influencer Marketing Hub, the influencer marketing industry is expected to be worth about

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