Companies send out conflicting messages about the TikTok deal, Microsoft acquires a gaming giant and the WeChat ban is temporarily blocked. This is your Daily Crunch for September 21, 2020.
\nThe big story: This TikTok deal is pretty confusing
\nThis keeps getting more confusing. Apparently TikTok\u2019s parent company ByteDance has reached a deal with Walmart and Oracle that will allow the Chinese social media app to continue operating in the United States, and the deal has been approved by Donald Trump. But it\u2019s hard to tell exactly what this agreement entails.<\/p>\n
ByteDance said it would retain 80% control of TikTok, while selling 20% of the company to Walmart and Oracle as \u201ccommercial partner\u201d and \u201ctrusted technology partner,\u201d respectively. However, Oracle released a seemingly conflicting statement, claiming that Americans will have majority ownership and \u201cByteDance will have no ownership in TikTok Global.\u201d
\nSo what\u2019s going on here? We\u2019re trying to figure it out.
\nThe tech giants
\nMicrosoft set to acquire Bethesda parent ZeniMax for $7.5B \u2014 ZeniMax owns some of the biggest publishers in gaming, including Bethesda Game Studios, id Software, ZeniMax Online Studios, Arkane, MachineGames, Tango Gameworks, Alpha Dog and Roundhouse Studios.
\nTrump administration\u2019s WeChat ban is blocked by US district court \u2014 More news about the Trump administration\u2019s efforts to ban some high-profile Chinese apps: A district court judge in San Francisco has temporarily stayed the nationwide ban on WeChat.
\nNikola\u2019s chairman steps down, stock crashes following allegations of fraud \u2014 This comes in the wake of a report from a noted short-seller accusing the electric truck company of fraud.
\nStartups, funding and venture capital
\nWith $100M in funding, Playco is already a mobile gaming unicorn \u2014\u00a0Playco is a new mobile gaming startup created by Game Closure co-founder Michael Carter and Zynga co-founder Justin Waldron.
\nIndian mobile gaming platform Mobile Premier League raises $90 million \u2014 Mobile Premier League operates a pure-play gaming platform that hosts a range of tournaments.
\nA meeting room of one\u2019s own: Three VCs discuss breaking out of big firms to start their own gigs \u2014 We talked to Construct Capital\u2019s Dayna Grayson, Renegade Partners\u2019 Renata Quintini and Plexo Capital\u2019s Lo Toney.
\nAdvice and analysis from Extra Crunch
\nEdtech investors are panning for gold \u2014 At Disrupt, investors told us how they separate the gold from the dust.
\nDespite slowdowns, pandemic accelerates shifts in hardware manufacturing \u2014 China continues to be the dominant global force, but the price of labor and political uncertainty has led many companies to begin looking elsewhere.
\nThe Peloton effect \u2014 Alex Wilhelm examines the latest VC activity in connected fitness.
\n(Reminder: Extra Crunch is our subscription membership program, which aims to democratize information about startups. You can sign up here.)
\nEverything else
\nIreland\u2019s data watchdog slammed for letting adtech carry on \u2018biggest breach of all time\u2019 \u2014\u00a0The Irish Council for Civil Liberties is putting more pressure on the country\u2019s data watchdog to take enforcement action.
\nPandemic accelerated cord cutting, making 2020 the worst-ever year for pay TV \u2014 According to new research from eMarketer, the cable, satellite and telecom TV industry is on track to lose the most subscribers ever.
\nOriginal Content podcast: \u2018Wireless\u2019 shows off Quibi\u2019s Turnstyle technology \u2014 I interviewed the director of the new Quibi series.
\nThe Daily Crunch is TechCrunch\u2019s roundup of our biggest and most important stories. If you\u2019d like to get this delivered to your inbox every day at around 3pm Pacific, you can subscribe here.<\/p>\n