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Daily Crunch: Uber reports big losses and slowing growth

by Arpit Maheshwari on August 09, 2019 • View comments

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The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here.

1. Uber lost more than $5B last quarter

Uber reported earnings for the second time as a public company, posting its largest-ever quarterly loss. And while revenue grew 14% year-over-year, that also sparked concerns over (relatively) slow growth.

The company’s stock took a nose-dive of 11% in after-hours trading following the news.

2. HarmonyOS is Huawei’s Android alternative for smartphones and smart home devices

After months of conflicting statements from executives, Huawei has officially unveiled HarmonyOS, a distributed operating system developed to power smartphones, laptops and smart home devices as the company attempts to reduce its reliance on American firms.

3. Apple expands its bug bounty, increases maximum payout to $1M

Apple is finally giving security researchers something they’ve wanted for years: a macOS bug bounty.

Hustle and bustle of Indian roads around monument of Charminar in Hyderabad, India.

4. India’s Lendingkart raises $30M to help small businesses access working capital

Lendingkart Finance has issued over 60,000 loans to more than 55,000 small and medium-sized enterprises in 1,300 cities across India. The startup says it will use the fresh capital to widen its lending range and find new clients.

5. This startup is helping food app delivery workers start their own damn delivery companies

Dumpling’s goal is to turn today’s delivery workers into “solopreneurs” who build their own book of clients and keep much more of the money.

6. The smartwatch category is growing, as Apple remains dominant

The good news for smartwatches is that the category continues to grow — but the numbers start to look less rosy when you take Apple out of the equation. (Extra Crunch membership required.)

7. Quantum computing is coming to TC Sessions: Enterprise on Sept. 5

Joining us onstage will be Microsoft’s Krysta Svore, who leads the company’s quantum efforts; IBM’s Jay Gambetta, the principal theoretical scientist behind IBM’s quantum computing effort; and Jim Clarke, the director of quantum hardware at Intel Labs.

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Arpit
Arpit Maheshwari
Software Engineer by Profession. Machine Learning enthusiast. I like to visit new places and watch movies. When I’m not doing all of those, I love to build software and tools.

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