Daily Crunch: Impossible Foods raises $300M

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The company behind the Impossible Burger gets a big infusion of capital, a major WhatsApp exploit is revealed and Uber stock has a rough day. Here’s your Daily Crunch for May 14, 2019.

1. Crowned by Burger King, meat replacement company Impossible Foods raises $300M

After being crowned by Burger King as the first meat replacement patty to roll out nationally with one of the largest fast food chains, Impossible Foods has raised $300 million in capital.

The financing brings the company’s total equity raise to $750 million — and provides a sizable pool of funds to draw from as it continues to compete with its newly publicly traded rival, Beyond Meat.

2. WhatsApp exploit let attackers install government-grade spyware on phones

WhatsApp just fixed a vulnerability that allowed malicious actors to remotely install spyware on affected phones, and an unknown number reportedly did so with a commercial-grade snooping package usually sold to nation-states.

3. Uber had an abysmal second day of trading

Yesterday, Uber closed its second day of trading down more than 18.8% from its IPO price, at $37.25 per share, with a market cap of $62.2 billion.

4. Supreme Court rules against Apple, allows an App Store antitrust case to proceed

The iPhone owners suing Apple allege that the company’s 30% commission on App Store sales is passed along to users, representing an unlawful and unfair use of Apple’s monopoly power.

5. Amazon rolls out Alexa Guard, to help protect your home while you’re out

The feature lets the company’s line of smart home products double as home security devices while the user is out. Say “Alexa, I’m leaving” on your way out the door, and the Echo device will start listening.

6. Spotify-owned Soundtrap launches a podcast studio in the cloud

Like Anchor (which Spotify also acquired), Soundtrap is focused on making it easier to podcast. But unlike Anchor, which is free, Soundtrap is available by subscription, starting at $14.99 per month.

7. Market map: the 200+ innovative startups transforming affordable housing

Immuta’s Daniel Wu has been looking at innovation in inclusive housing, and in this article, he breaks down more than 200 companies doing notable work in the space. (Extra Crunch membership required.)