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Daily Crunch: Y Combinator heads north

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1. The Silicon Valley exodus continues
Many of the investors that touted the exclusivity of “The Valley” have moved north to San Francisco, where they have better access to top entrepreneurs. Y Combinator, a Silicon Valley institution and to many the lifeblood of the startups and venture capital ecosystem, is the latest to pack up shop.
YC is currently searching for a space in SF to operate its accelerator program, sources close to YC confirm to TechCrunch, because the majority of YC’s employees and its portfolio founders reside in the city.
2. Grab confirms $1.46B investment from SoftBank’s Vision Fund
The Southeast Asian ridesharing company said the new money will be used to further its super app strategy, which is aimed at making its service a daily app for consumers, but it is also likely to be used to battle rival Go-Jek.
3. Fitbit announces a $160 stripped-down version of the Versa smartwatch
Last year’s Versa was at the center of Fitbit’s reversing fortunes. After two years in the wilderness, the smartwatch helped turn the tide for the flailing company.
Daily Crunch: Y Combinator heads north
Image: OstapenkoOlena/iStock
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