News app Artifact will be more like a relic

Welcome back to TechCrunch PM! Today, we have a look at what happened to Artifact, Solana Mobile’s second phone, some fintech venture rounds, espionage and how to be friends with your fitness tracker. And if you weren’t tired of all the Apple news from this morning, we’ve got you covered. Now, let’s dive in.

— Christine

TechCrunch PM Top 3

What went wrong at Artifact: Last week, we reported that Artifact, Instagram’s news app, was shutting down. Now we have some new data that points to why. In short, it was not able to keep up with competition. This is despite having a solid core audience and a techy side that was useful. Unfortunately, that wasn’t enough.

Solana Mobile Chapter 2: It’s good to see people getting excited about shopping again. In this case, Solana Mobile saw 30,000 preorders in the first 30 hours for the second installation of its phone, dubbed “Chapter 2.” Its first phone sold out, but not as fast as predicted for Chapter 2.

A customer relationship you can bank on: Digital Onboarding, a SaaS company focused on helping banks and credit unions adopt digital engagement techniques for its customers, grabs $58 million in new funding. This could mean the end of those paper packets as we know it.

More top reads

Briq gets a big valuation: Briq, a startup that uses AI to automate finances in construction, is now valued at $150 million after bringing in an $8 million extension round. Looks like its “wait out the market” plan worked.

Credit by way of your company: With so many people not having enough savings to weather an unexpected purchase, offering affordable credit should be a top priority for employee retention. Lucky for companies, fintech company Kashable, now with $25.6 million in new funding, is here to offer employment-based lending.

Microsoft makes its AI-powered reading tutor free: Anyone with a Microsoft account can now use Reader Coach for free. The program assists teachers in helping their students read with more fluency.

Why do hackers have cool names? Google says a Russian espionage crew is behind a new malware campaign that has evolved beyond the typical phishing. The group is called Cold River but is also known as “Callisto Group” and “Star Blizzard.” The crew is known for conducting long-running espionage campaigns against NATO countries, particularly the United States and the United Kingdom.

Reddit plans an IPO: Could it be . . . another IPO? Reddit isn’t commenting, but we have on good authority that a filing is coming in the next month or so. Now pop on over to TechCrunch+ and see what Alex has to say on the matter.

Apple has some new App Store rules: Apple excludes video and news partners from new App Store rules around external payments. The updated App Store rules comply with a court order after the Supreme Court declined to hear the Epic Games–initiated antitrust case against Apple over commissions. There are some things developers can do and some things they can’t.

Taking the pulse of fitness trackers: The world of fitness and wellness trackers continues to grow. Monitors are getting better, but there is still an issue with what medical claims they can make. Natasha helps us weed through this with six rules to get the most out of fitness and wellness tracking.

Consumer tech is bound for a comeback among unicorns, but maybe not just yet: In this TechCrunch+ piece, Anna plays off the 10th anniversary of the term “unicorn” with a look at the shift to enterprise and what could happen next. (TC+)

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On the pods

For this week’s Chain Reaction, Jacquelyn interviewed Monica Long, the president of Ripple, a blockchain-based digital payment network and protocol. Monica has spent the last 10 years at Ripple, working her way up from the director of communications to president.

They discuss Monica’s career growth, cross-border payments, traditional finance and the need for regulatory clarity.

We also dove into Ripple’s suit with the SEC, the XRP Ledger, its focus for 2024 and advice for the community. Listen here.

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