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Financial Technology

Venmo Stash: New Cashback Rewards Program to Lure Gen Z Users

Venmo has launched Venmo Stash, a new rewards program offering cashback to customers who use their Venmo Debit Mastercard and engage with Venmo's products. The program aims to incentivize continued use of Venmo by bringing more funds into the ecosystem.

The rewards, which can be up to 5%, are returned to Venmo's Mastercard Debit Card. This initiative targets younger users who prefer debit cards over credit cards, with studies indicating that a significant percentage of Gen Z favors debit cards.

Customers initially earn 1% cashback for spending their Venmo balance, which increases to 2% with auto-reloads and 5% with monthly Direct Deposits. Instead of category-based rewards, Venmo offers curated bundles of favorite brands like McDonald’s, TikTok Shop, Uber, and Amazon.

Next year, Venmo Stash will expand to offer rewards for payments made with Venmo at merchants within its nationwide network. This move competes with similar cashback incentives offered by rivals like Cash App.

Artificial Intelligence and Mapping Technology

Google Maps Enhances Developer Capabilities with New AI-Powered Tools

Google Maps is introducing new AI features, including a builder agent and MCP server, to empower developers in creating interactive projects using Maps data and code. These tools are powered by Gemini models. The builder agent allows users to describe their desired map-based prototype in text, generating code for tasks like creating Street View tours or visualizing real-time weather. Additionally, a styling agent enables customized map designs to match specific themes. Google is also introducing Grounding Lite, allowing developers to ground their own AI models using Model Context Protocol (MCP), enabling AI assistants to answer location-based questions. Contextual View, a low-code Google Maps component, provides visual understanding for such queries. Furthermore, a code assistant toolkit, the MCP server, connects with Google Maps' documentation to aid developers in utilizing the Google Maps API and data. On the consumer side, Google is adding Gemini-powered features for hands-free navigation and, in India, incident alerts and speed limit data.

Venture Capital

Sapphire Sport Rebrands as 359 Capital, Focuses on Series A and B Startups

Sapphire Sport, a venture fund focused on sports, media, and entertainment, is spinning out from Sapphire Ventures and rebranding as 359 Capital. The firm will continue to focus primarily on Series A and Series B startups, writing checks between $2 million to $10 million. 359 Capital's portfolio includes companies like Beehiiv, Betty Labs, Overtime, Perplexity, and Tonal. The transition includes key personnel such as Michael Spirito, David Hartwig, Doug Higgins, and Rico Mallozzi.

Cybersecurity

The Pervasive Threat of Government Spyware: Abuse Beyond Criminals and Terrorists

Government spyware, intended for serious criminals and terrorists, is increasingly used against journalists, activists, and politicians. The ease of targeting and lack of transparency contribute to widespread abuse. Companies like NSO Group and Paragon provide sophisticated surveillance tools, leading to a multi-billion dollar market with governments spying on a broad range of individuals. While some efforts are underway to curb the market, the problem persists globally.

Autonomous Vehicles

Vay Secures Potential $410M Investment from Grab to Expand Remote Driving Technology

Vay, a German startup specializing in remote-controlled rental cars, is set to receive $60 million from Grab, with a potential for an additional $350 million upon achieving joint milestones. The investment will help Vay scale its operations in the U.S., where it currently operates in Las Vegas. Vay's technology uses human operators to remotely drive rental cars to customers. Grab's investment aims to tap into the growing market of consumers who prefer not to own cars. The two companies also plan to explore synergies in Southeast Asia, with Grab potentially using Vay's driving data to improve AI models for autonomous driving.

Artificial Intelligence

1Mind Secures $30 Million to Revolutionize Sales with AI Agents

1Mind, founded by Amanda Kahlow, has raised a $30 million Series A round to further develop its AI sales agent, Mindy. Unlike other sales agents that focus on outbound communication, Mindy handles inbound sales, augments self-service websites, and replaces sales engineers on calls. 1Mind's AI agents are designed to replicate the human experience, providing comprehensive knowledge and deterministic AI to limit deviations. Currently used by over 30 companies, including HubSpot and LinkedIn, 1Mind aims to replace roles such as sales engineers and potentially higher-end account executives in the future, envisioning agent-to-agent transactions.

Artificial Intelligence & Automation

Scribe's $1.3B Valuation Fuels AI-Driven Workflow Optimization

Scribe, a workflow documentation platform, has raised $75 million in a Series C round, valuing the company at $1.3 billion. The funding will be used to launch Scribe Optimize, a platform designed to identify where automation and AI can provide the most significant returns for enterprises. Scribe's existing product, Scribe Capture, automatically documents workflows, creating step-by-step guides with text and screenshots.

According to Scribe, customers using Capture have reported saving 35 to 42 hours per person per month and reducing new hire onboarding time by 40%. The company currently serves teams within 94% of Fortune 500 companies and has over 5 million users across 78,000 organizations. Scribe plans to double its headcount in the next 12 months and expand its presence in markets like the U.K., Canada, Australia, and Europe.

The company has documented over 10 million workflows across 40,000 software applications.

Streaming Services

YouTube TV Offers $20 Credit to Subscribers Amidst Disney Channel Dispute

YouTube TV is providing a $20 credit to subscribers affected by the week-long absence of Disney-owned networks like ESPN and ABC. The credit will be applied to their next billing statement.

Disney channels were removed from the service on October 31 due to a pricing dispute between YouTube and Disney. YouTube criticizes Disney's price hike, while Disney claims YouTube is unwilling to pay fair rates.

Subscribers will receive emailed instructions on how to apply the credit. YouTube aims to restore the channels quickly if a deal is reached.