Facebook acquires a preferred GIF search engine, online game gross sales see main progress and Sorrentino stories promising outcomes for a COVID-19 therapy.

Right here’s your Each day Crunch for Could 15, 2020.

1. Fb to accumulate Giphy in a deal reportedly value $400 million

Fb will purchase Giphy, the web-based animated GIF search engine and platform supplier. The corporate confirmed the deal however isn’t disclosing the phrases; Axios reports that it’s value round $400 million.

Giphy has grown to be a central supply for shareable, high-engagement content material, and its animated response GIFs can be found throughout Fb’s platforms, in addition to via different social apps and companies. Most notably, Giphy supplies built-in search and sticker capabilities for Fb’s Instagram, and it’ll proceed to function in that capability.

2. US online game gross sales have document quarter, as shoppers keep at residence

New numbers from NPD affirm what we’ve identified for some time: The primary quarter of 2020 was an excellent one for gaming corporations. The brand new report notes that gross sales hit a document $10.86 billion within the U.S. between January and March of this 12 months, marking a 9% improve over a 12 months prior.

3. Sorrento finds a coronavirus antibody that blocks viral an infection 100% in preclinical lab experiments

Therapeutics firm Sorrento has made what it says might be a breakthrough in potential therapy of SARS-CoV-2, the virus that results in COVID-19. The corporate launched particulars of its preclinical analysis on Friday, saying that it has discovered an antibody that gives “100% inhibition of SARS-CoV-2 virus an infection of wholesome cells after 4 days incubation.”

4. Indian meals supply startup Zomato cuts 13% of workforce

The 11-year-old agency didn’t disclose the precise variety of folks it was letting go, however the quantity is above 500. A Zomato spokesperson advised TechCrunch that the startup employs about 4,000 folks and the layoff impacts its workforce globally.

5. Large VCs stacked billions in Q1 whereas smaller corporations noticed their haul shrink

New information out immediately particulars how U.S.-based VCs fared in Q1 2020, giving us a window into how flush the monetary class of startup land was because it headed into the COVID-19 period. The quick reply is that large funds raised lots of money, whereas smaller funds seem to have put in a considerably lackluster quarter. (Additional Crunch membership required.)

6. Why did Apple purchase NextVR?

At face worth, this acquisition appears somewhat unusual for Apple — the corporate has been pushing full-throttle on cell AR, largely eschewing public exercise or curiosity within the VR world. However digital actuality may really feel like a safer funding in the intervening time.

7. WeWork and SoftBank unveil the primary 14 startups of their Emerge accelerator for underrepresented founders

It’s an equity-free, eight-week program that features workshops, entry to mentors from SoftBank and the WeWork group and periods with SoftBank executives. All of it culminates in a showcase occasion for buyers and SoftBank companions.

The Each day Crunch is TechCrunch’s roundup of our greatest and most essential tales. For those who’d prefer to get this delivered to your inbox day by day at round 9am Pacific, you’ll be able to subscribe right here.

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