These were the 10 biggest European tech stories this week

These were the 10 biggest European tech stories this week


Happy Friday!

This week, tracked 77 tech funding deals totalling about €1.3 billion, as well as 13 M&A transactions, 2 IPOs, and 1 ICO across Europe, Israel, and Turkey.

Like every week, we listed every single one of them in our free weekly newsletter, along with interesting news regarding fledgling European startups, tech investors old and new, a number of good reads published elsewhere, government and policy news, as well as an overview of interesting lists, facts and figures from a wide variety of sources.

You can subscribe to our newsletter below to receive all this information in your inbox every Friday afternoon for free, but here’s an overview of the 10 biggest European tech news items for this week:

1) Google will create a standalone unit for its shopping service and require it to bid against rivals for ads shown on the top of its search page, in an effort to satisfy European Union concerns over the display of product results, three people familiar with the investigation told Bloomberg. Later in the week, Google started rolling out changes already.

2) Private trades in Spotify shares are valuing the music streaming company at about $16 billion, reported Reuters this week.

3) The European Commission presented guidelines and principles for online platforms to increase the proactive prevention, detection and removal of illegal content inciting hatred, violence and terrorism online.

4) Rovio, the maker of hit mobile game “Angry Birds”, has gone public and will look to buy up other players in the gaming industry following its IPO on Friday.

5) Revenues at startup factory Rocket Internet grew in the first six months of 2017 with losses narrowing at a number of its companies. Rocket Internet also announced it has sold off a large chunk of its shares in food delivery marketplace Delivery Hero to investment giant Naspers, which increased its stake to 23.6% with the investment reportedly worth $775 million.

6) Venture capital firm SPiCE VC is launching an initial coin offering (ICO) for a new VC fund that it hopes will raise up to $100 million.

7) Russia has said it will block access to Facebook next year unless the social network complies with a law that requires websites which store the personal data of Russian citizens to do so on Russian servers.

8) Japanese e-commerce giant Rakuten, alongside other investors, have pumped more than 25 million euros into Barcelona-based on-demand pickup and delivery startup Glovo.

9) German food delivery marketplace Delivery Hero has announced a 66% boost in revenue for the first half of 2017 in its latest revenue report, despite a slowdown in growth in recent months.

10) Onfido, a company developing digital identification tools, has raised $30 million led by Crane Venture Partners with participation from Microsoft Ventures and Salesforce Ventures.

Bonus link: Fintech startups and banks face off on new rules over European payments and data access

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