Federal Payroll Loans Unevenly Distributed to Tech Startups

According to a Treasury Department report, a number of tech startups have received funds from the federal government’s Paycheck Protection Program, forgivable loans intended to pay workers’ salaries. Cloud software company C3.ai, for example, valued at $3.3 billion, got a $5 million Paycheck Protection Program loan. Other startups have been denied loans, however, when the federal authorities deemed their venture capital partners an “affiliated business.” Meanwhile, almost 70,000 employees of tech startups recently lost their jobs. Continue reading Federal Payroll Loans Unevenly Distributed to Tech Startups

Luminary Launches With Plan to Be the Netflix of Podcasts

Luminary is a podcast startup that has debuted with more than 40 exclusive shows and no ads. The company also has almost $100 million in funding and, for $8 per month, subscribers will get full access to the content lineup, which includes a new show from Lena Dunham and series from Conan O’Brien, Malcolm Gladwell and Trevor Noah. Co-founder/chief executive Matt Sacks stated that Luminary aims to be “synonymous with podcasting in the same way Netflix has become synonymous with streaming.” Continue reading Luminary Launches With Plan to Be the Netflix of Podcasts

Philo, Mobile Cable TV Startup, Expands to More Universities

Philo, which brings live TV and DVR use to mobile devices, was launched to entice young audiences that are not interested in traditional cable television. The company, backed by New Enterprise Associates (NEA) and HBO, just expanded to an additional 15 U.S. universities, bringing its total presence on campuses to 40. The expansion comes in the wake of an additional $10 million raised in venture funding. Among the new campuses to sign on are University of Houston, University of Utah and Virginia Commonwealth University. Continue reading Philo, Mobile Cable TV Startup, Expands to More Universities