You're listening to Tech Beat, and here's what's moving in tech today.
The co-founders of shopping startup Phia are facing serious questions tonight. Phoebe Gates and Sophia Kianni reportedly knew for months that their platform was engaged in cookie stuffing — a deceptive affiliate marketing practice that fraudulently claims sales commissions. If the reporting holds, this isn't a case of oversight. It's a governance failure at the top.
Shifting to venture capital, Accel has closed a five hundred fifty million dollar India fund, and it filled up fast — oversubscribed in just a matter of weeks. What makes this notable is the timing. The firm still has more than half of its previous six hundred fifty million dollar India fund left to deploy. That's a lot of capital chasing the same market, which raises real questions about valuation pressure ahead.
And in crypto, Bitcoin is stuck in a holding pattern. Weeks of sideways trading have essentially crushed volatility, with ETF inflows and selling pressure canceling each other out. Analysts are pointing to Wednesday's inflation data as the next thing likely to shake the market loose — in either direction. For traders, it's a waiting game with real stakes.
Keep surfing. Tech Beat out.
