Phoenix Labs is laying off majority of employees, 2 years after Forte deal

Phoenix Labs is spinning out Sea's Garena.
Phoenix Labs, the maker of Dauntless and Fae Farm, has laid off a majority of its staff two years after it was quietly acquired by blockchain gaming firm Forte.Read More

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Nigerian fintech Abeg faces its biggest test yet after blitzscaling to millions of users

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On October 3, “ Big Brother Naija ,” a reality show sponsored by Nigerian social payments company Abeg, came to a rapturous close after 72 days on air . The show, which commenced on July 24, is the most popular and most-watched reality show in Africa, raking in impressive numbers in terms of money and viewership . The “Big Brother” franchise, started in the Netherlands, has been duplicated worldwide, including Nigeria, where pay-TV company MultiChoice Nigeria organizes it . It features a group of people who live together in a huge house, detached from the outside world but watched via television cameras . The recent season of “Big Brother Naija” was the sixth since launching in 2006. In its fifth season, the show’s organizers claimed that viewers cast a whopping 900 million votes. With millions of eyeballs tuned in to watch the show daily, it is only fitting that companies looking to appear before viewers have to pay a premium . According to some sources, it costs $2 million...
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Lydia adds stock and crypto trading to its payment app

French startup Lydia is entering a whole new category by adding trading to its financial super app later this year. The company is partnering with Bitpanda for this feature. Lydia users will be able to buy, hold and sell American and European shares, precious metals, cryptocurrencies and ETFs. Lydia started as a peer-to-peer payment app that lets you send and receive money instantly from a mobile app. It has added more features over time, such as debit cards, IBANs, money pools, cashback, donations, personal loans, etc. Like Venmo or Cash App in the U.S., the company attracts new users with peer-to-peer payments and then exposes them to more features and financial products that they can access directly from the app. And it’s been working well as Lydia now has 5.5 million users. A few months ago, Lydia introduced savings accounts powered by Cashbee. It’s a good old fixed-rate savings account that offers 0.6% in interests. It’s not much, but it’s better than leaving it on your mai...
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The Station: Inside the infrastructure bill, Canoo makes a move and EVs in LA

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The Station is a weekly newsletter dedicated to all things transportation.  Sign up here — just click The Station — to receive it every weekend in your inbox . Hello readers: Welcome to The Station, your central hub for all past, present and future means of moving people and packages from Point A to Point B. I’ve been in Los Angeles this past week to meet up with startups, investors and of course, check out the LA Auto Show . So considering my busy schedule, I’ve handed the reins to Aria Alamalhodaei. See you next week. As always, you can email me at kirsten.korosec@techcrunch.com to share thoughts, criticisms, opinions or tips. You also can send a direct message to me at Twitter — @kirstenkorosec . Micromobbin’ Let’s start the day off with a chortle. Last week’s Saturday Night Live featured an e-bike shout-out during the show’s “Weekend Update” news anchor skit.  “A new report shows that the fastest growing form of electric vehicle is the e-bike, which is particularl...
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