Thursday, June 12, 2025

Welcome to TC PM! Today we dive into fintech Chime's public debut; we learn of all the new capabilities Apple's iPads will have when iOS 26 comes out; and we have the details on an exciting new feature on Instagram.

TechCrunch Top 3

Image Credits: Nasdaq

🔔 The opening bell chimes: Fintech Chime finally went public today. The company has had a long road since it was founded in 2012 that included initial rejections from VCs and later fighting with financial regulators on whether it could be called a bank.

🫡 OK, iPad: Apple's iPads will see a big change in functionality with the upcoming iPadOS 26 software update. Amanda Silberling argues this new operating system will allow iPads to function more like computers and become the work tool they've long aspired to be. Inspirational!

🛍️ Automattic acquires: Automattic, the parent company of WordPress, announced it acquired relationship-management app Clay. While terms of the deal weren't disclosed, Clay had previously raised $9 million in venture capital, including from General Catalyst and Forerunner Ventures.

Afternoon must-reads

Image Credits: Tesla

🤖 Tesla takes action: Tesla filed a lawsuit against one of its former engineers, Zhongjie Li, yesterday, alleging that Li stole trade secrets about the company's Optimus humanoid robot technology and used them to launch his YC-backed startup.

✅ Time to get creative: Instagram will let users rearrange their grids in addition to testing a feature that would allow people to post to their grid without the posts showing up in users' feeds. The company said the ability to rearrange the grid has been one of its most-requested features.

🧸 An unlikely collab: Mattel, the toy maker behind Barbie, and OpenAI have teamed up. The terms of this partnership are sparse, but they expect to release their first AI-powered product, whatever that means, later this year.

📞 New phone, who dis? Smartphone maker Nothing plans to sell its Nothing Phone (3) in the U.S. through its website and Amazon. The new phone will be unveiled early next month and will support both AT&T and T-Mobile.

🛴 Scooter time: Micromobility startup Infinite Machine revealed a seated scooter called Olto that costs $3,495 and will start shipping later this year. The scooters feature 40 miles of range and are designed to be modular and allow users to attach things like a child carrier if they choose.

Around the web

👀 Big Tech, big government: Donald Trump plans to host his controversial military parade this Saturday. Nonprofit America250 Foundation is helping support some of the festivities along the route. That foundation has quite a few sponsors in Big Tech.

🚨 ICE alert: As Immigration and Customs Enforcement carries out raids in compliance with an order from the Trump administration, people are turning to social media networks to alert others of ICE raids, checkpoints, and other information about the group's whereabouts.