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Zero finally raised $20 million from NEA so that it can work on a credit card which will work like a debit card in real life

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Zero finally raised $20 million from NEA so that it can work on a credit card which will work like a debit card in real life

Just before the official Apple launched the Apple Card, a company called Zero announced that they have successfully closed their Series A round investment at $20 million. This round of funding for Zero was led by New Enterprise Association is also known as the NES. With this investment, the company Zero has raised a total of $20 million in funding since the beginning of time. They have tried bot equity funding and debt funding to run this company.

Some of the other investors who were there in this round of investment were Nyca Partners, Eniac Ventures, and SignalFire. There is some other unnamed school endowment. In the year of 2017, Zero has raised a total of $8.5 million along with raising $7 million in venture debt from the popular Silicon Valley Bank.

The idea of Zero is very simple. To increase their customer base, they are planning to target it to the millennial group because they are the only people who are always accepting of new things in their life. Another reason they are targeting is that they end up falling in a vicious debt cycle. Most of the students are caring a debit card and this is one of the reasons they miss out on the credit card benefits like cash back, rewards and points.

Only 33 percent of the millennials have credit cards and there is a huge market which needs to be catered now. The card from Zero will be a MasterCard so you can earn cashback points from the card. The card is also combined with FDIC, which is backed by checking account which is called the Zero Checking.

Bryce Galen, the co-founder said:

“People spend 10 to 15% more on average just because they’re putting it on a credit card, and not seeing where they stand all the time.”

“Spending 10 to 15% more to chase 1 to 2% in rewards doesn’t make sense.”

The co-founder and Chief Executing Officer of Zero have always had an interest in optimizing their personal finances. He did not see any kind of value in overspending money.

Hans Morris, managing partner of Nyca Partners and former president of Visa, Inc., in a statement said:

“Zero creates an innovative debit-style experience, with an elegant design, and truly compelling rewards. It’s a fabulous banking experience.”

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Startups

According to the CEO of Apple Tim Cook, Silicon Valley has created a lot of chaos

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The Chief Executing Officer Tim Cook was there at Stanford University to give a speech last weekend. Along with all the motivational stuff, he ended up attacking all the big technology companies for creating chaos in the Silicon Valley.

Cook said:

“Today we gather at a moment that demands some reflections. Fueled by caffeine and code, optimism and idealism, conviction and creativity, generations of Stanford graduates and dropouts have used technology to remake our society.”

“But I think you would agree that lately the results haven’t been neat or straightforward. In just the four years that you’ve been here, things feel like they’ve taken a sharp turn. The crisis has tempered optimism. Consequences have challenged idealism. And reality has shaken blind faith.”

Tim also made sure that he names a few of the great inventions that happened in Silicon Valley so that he was able to counterbalance them. He talked about everything which included iPhones, Hewlett Packard, social media and Snapchat.

He continued:

“But lately it seems this industry is becoming better known for a less noble innovation — the belief that you can claim the credit without accepting responsibility. We see it every day now with every data breach, every privacy violation, every blind eye turned to hate speech, fake news poisoning our national conversation, the false miracles in exchange for a single drop of your blood.”

He added later:

“It feels a bit crazy that anyone has to say this, but if you built a chaos factory, you can’t dodge responsibility for the chaos. Taking responsibility means having the courage to think things through.”

Cook then ended up focused on the topic of privacy, a topic that is dear to his heart.

“If we accept as normal and unavoidable that anything in our lives can be aggregated, sold or even leaked in the event of a hack, then we lose so much more than data. We lose the freedom to be human,” he said. “The chilling effect of digital surveillance is profound and it touches everything.”

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Danke China’s housing unicorn appoints ex Baidu executive as their new Chief executing officer

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Danke China’s housing unicorn appoints ex Baidu executive as their new Chief executing officer

Danke Apartments post getting an investment of $500 million in their last funding round has been able to boost up the confidence of the company. This Monday, Danke announced that they will be appointing Gu Guodong as their new Chief Executive Officer to ramp up the companies offline operational crew.

Gu has stepped down from his previous company after working there for five years. He was one of the key members of the company Baidu. He has worked with a company like Baidu and this is the reason he will easily manage all the sales and money which has been generated by the company through funding and revenue.

Gu has joined the company just after Danke has expanded so there was no better person to take care of the company than him. The main focus of the company is to rent out well-furnished flats or apartments to working professionals so that it is easy and convenient for the people who stay there. After the last funding round of the company in the month of February, the company is valued at $2 billion.

Gu, the chief executive officer was one of the top level executives in Baidu and this is the reason he is one of the biggest assets for the company like Danke. For Gu, joining Danke would almost feel like returning home.

Danke chief executive Gao Jing said:

“We welcome our comrade and good friend Michael.”

Gu has previously worked with other executives of Danko and this is why it totally feels like home for the Chief Executive Officer. Derek Shen, the current chairman of Danke, co-founded Nuomi in 2010 is also part of the team making it very strong and efficient.

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Startups

Binance starts to restrict United States users ahead of the regulatory compliant exchange launch

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Binance starts to restrict United States users ahead of the regulatory compliant exchange launch

Finally, the largest cryptocurrency exchange is going legit. Binance is known to process a total of $1 billion on a day to day basis and for a long period of time has embodied the Wild West culture of crypto. It still implements all types of restrictions for the United States of America passport holders on a worldwide basis.

The company has grown drastically and has become one of the biggest names in the crypto industry, which basically allows everyone to use all its services so that they can trade myriad tokens. In the past year, the company has become more professional and has started to offer services in a more organized manner.

Just this week, the company announced that they will soon be pairing up with BAM Trading Services. This will surely be a level of disruption for all the customers of the United States of America. People from the United States of America cannot sign up for the Binance.com service.

“Binance is unable to provide services to any U.S. person.”

-which were confirmed to TechCrunch by a spokesperson.

All the people who are using the service will be given a period of 90 days before the company will stop receiving payments. The company has not yet mentioned that if the ban will be with the help of the geolocation or with the help of the IP address.

The 90-day period, which will be given to the customers will end on the 12th of September 2019. According to experts, people from the United States can simply browse through the website only when they will be using some kind of VPN which will show their location outside of United States of America because of their servers present outside the country.

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