Daily Crunch - GameStop becomes a meme stock

TechCrunch Newsletter [TechCrunch logo]( [The Daily Crunch logo]( Wednesday, January 27, 2021 • By [Anthony Ha]( Reddit users have some fun with the stock market, Facebook predicts advertising challenges and ByteDance is cutting jobs in India. This is your Daily Crunch for January 27, 2021. [The big story: GameStop becomes a meme stock]( GameStop’s stock continued to climb today, along with Blockbuster and AMC — all stocks shorted by institutional investors. These gains were [apparently driven by users in the r/WallStreetBets subreddit](. We’ve rounded up the fairly non-committal [statements from various trading apps]( like Robinhood about how they’re responding to this volatility. And Lucas Matney [asks how this might affect cryptocurrencies](: “For investors looking to have a good time or shoot the moon, meme stocks are a more fun place to be than crypto is.” [Read more]( [The big story: GameStop becomes a meme stock image] Image Credits: champc / Getty Images [Do business smarter with intelligent contracts]( Sponsored by [Conga]( [Contracts govern over 80% of transactions and value in an average organization. Ditch manual contract processes and opt for an end-to-end solution that streamlines, automates, and increases visibility. Learn more in the Ultimate Guide to Contract Management.]( [Read more]( The tech giants [Facebook predicts ‘significant’ obstacles to ad targeting and revenue in 2021]( — While Facebook’s fourth quarter earnings report included solid user and revenue numbers, the company sounded a note of caution for 2021. [SAP launches ‘RISE with SAP,’ a concierge service for digital transformation]( — RISE is a subscription service that combines a set of services and product offerings. [ByteDance is cutting jobs in India amid prolonged TikTok ban]( — The company employs more than 2,000 people in India. [The tech giants image] Image Credits: Graeme Jennings-Pool / Getty Images Startups, funding and venture capital [SoftBank teams with home goods maker Iris Ohyama for new robotics venture]( — The newly formed Iris Robotics has set an extremely aggressive goal of $965 million in sales by 2025. [Literati raises $40M for its book club platform]( — CEO Jessica Ewing told me that she’s trying to build the first “new, innovative bookseller” since Amazon launched 25 years ago. [Renewable investment wave continues as solar lending company Loanpal raises $800M]( — The $800 million commitment to Loanpal arrives alongside a flurry of climate commitments from some of the world’s largest investors. [Startups, funding and venture capital image] Image Credits: SoftBank Robotics Advice and analysis from Extra Crunch [How two startups scaled to $50M ARR and beyond]( — The Exchange examines OwnBackup and Assembly. [Dear Sophie: How can I sponsor my mom and stepdad for green cards?]( — The latest “Dear Sophie,” the advice column that answers immigration-related questions about working at technology companies. [Check out the amazing speakers joining us on Extra Crunch Live in February]( — We’ll take a look at funding deals through the eyes of the founders and investors who made them happen. (Extra Crunch is our membership program, which helps founders and startup teams get ahead. [You can sign up here](.) [Advice and analysis from Extra Crunch image] Image Credits: Nigel Sussman Everything else [Battling algorithmic bias at TC Sessions: Justice]( — At TC Sessions: Justice on March 3, we’re going to dive head-first into data discrimination, algorithmic bias and how to ensure a more just future. [Everything else image] Image Credits: TechCrunch [Read more stories on TechCrunch.com]( Newest Jobs from Crunchboard - [Sr. Rails Developer - HealPay (Remote, USA) at HealPay (Web Applications) (Ann Arbor, MI, USA)]( - [Sr. Software Engineer (US - Remote) at Hip eCommerce (USA)]( - [Sr. QA Engineer - (Remote) at Hip eCommerce (Raleigh, NC, USA)]( - [Digital Ad Operations Manager at SEBPO (Marlton, New Jersey 08053, USA)]( - [Software Developer at ESKER INC (Madison, WI, USA)]( [See more jobs on CrunchBoard]( [Post your tech jobs]( and reach millions of TechCrunch readers for only $200 per month. [Facebook]( [Twitter]( [Youtube]( [Instagram]( [Flipboard]( [View this email online in your browser]( [Privacy Policy]( | [Terms of Service]( | [Unsubscribe]( © 2021 Verizon Media. All rights reserved. 110 5th St, San Francisco, CA 94103