The $1 billion acquisition of rent-to-own startup Divvy Homes, which was announced Wednesday, is expected to leave some shareholders without a payout, according to sources familiar with the deal.The terms and Divvys journey from buzzy startup to acquisition target reflects the rollercoaster ride the proptech industry has endured over the past decade.The San Francisco-based startup, founded in 2016, had raised more than $700 million in debt and equity from well-known investors such as Tiger Global Management, GGV Capital, and Andreessen Horowitz (a16z), among others. By 2021, the company was valued at $2.3 billion.And while the Brookfield Properties purchase of Divvy for $1 billion was at half of its peak valuation, the acquisition could still be considered a win in an industry that has had a string of shutdowns and bankruptcies.However, its a loss for some shareholders, according to a letter from Divvy CEO and co-founder Adena Hefets, which was viewed by TechCrunch.If the transaction closes, Divvy will sell substantially all of its assets, namely its home portfolio and brand, to Brookfield for approximately $1 billion. However, after repaying its outstanding indebtedness, transaction costs, and liquidation preference to preferred shareholders, we unfortunately estimate that neither common shareholders nor holders of the Series FF preferred stock will receive any consideration, according to the letter, which was sent to shareholders, former employees, and Divvy supporters.FF preferred stock, also known as Founders Preferred Stock, is a type of stock that is issued to founders of a company. The law firm Cooley defines the shares as being issued to founders at the time of incorporation in order to facilitate sales of stock by founders in connection with future equity financings. TechCrunch has reached out to Hefets and Divvy Homes for comment and will update the article with any response.Another source told TechCrunch that equity holders got zerod so founders, employees and VCs will get nothing from the sale. The identity of the source, who asked to remain anonymous, has been verified by TechCrunch.Divvy operated a rent-to-own model in which it worked with renters who wanted to become homeowners by buying the home they wanted and renting it back to them for three years while they built the savings needed to own it themselves, it said.The company ran into some hiccups when mortgage interest rates began to surge in 2022, leading it to conduct three known rounds of layoffs in a years time. Divvys last known funding occurred in August 2021 a $200 million Series D funding led by Tiger Global Management and Caffeinated Capital. The Series D round was announced just six months after a $110 million Series C.Hefets also shared in the letter the decision to sell wasnt easy and came after a thorough review of Divvys strategic alternatives and with significant deliberation around our options.She said the move followed years of fighting difficult market conditions, including rising interest rates, and making as many cost cuts as possible.As the company looked into what lay ahead in 2025, it decided the best way forward was to sell its portfolio of homes now and return as much capital as possible to shareholders.With almost a decade of pouring myself into this company, and believing in this mission, this was not the ending I had hoped forWhile I am not proud of the financial outcome, I am proud of the impact we had on our customers lives, Hefets added.Want more fintech news in your inbox? Sign up for TechCrunch Fintechhere.Want to reach out with a tip? Email me atmaryann@techcrunch.comor send me a message on Signal at 408.204.3036. You can also send a note to the whole TechCrunch crew attips@techcrunch.com. For more secure communications,click here to contact us, which includes SecureDrop and links to encrypted messaging apps.

In BriefPosted:5:48 PM PST January 22, 2025Image Credits:Getty ImagesRaymond Tonsings Caffeinated Capital seeks $400M for fifth fundCaffeinated Capital, a San Francisco venture firm started by a solo capitalist Raymond Tonsing, is raising a fifth fund of $400 million, according to a regulatory filing.The firm, an early investor in software company Airtable and defense startup Saronic, has already raised $160 million toward the fund. If Caffeinated hits its target, it will be the 15-year-old firms largest capital haul date. Although the outfit didnt announce its previous fund, PitchBook data estimates that Caffeinated closed its fund four with a total of $209 million in commitments.Although Tonsing was Caffeinateds only general partner until four years ago, Varun Gupta, who led data science and machine learning at Affirm, joined him as a second general partner in 2020.Tonsing was an early investor in Affirm, a buy-now-pay-later platform that went public in 2021. The firms other notable exits include A/B testing startup Optimizely, which PitchBook estimates was sold for $600 million in 2020.Topics

Cinesite and Frameless Creative, an immersive experiences company, has formed a long-term partnership with the National Portrait Gallery. Their collaboration, National Portrait Gallery Unframed will launch with Stories Brought to Life, will explore the lives of people who have shaped the UKs history and culture, from the Tudor period to the present day. The touring art experience will premiere at MediaCity, Salford, Greater Manchester in May ahead of a national and international tour.We are delighted to announce this new long-term partnership with the National Portrait Gallery, said Rich Storton, General Manager, Frameless Creative. We hope that by unleashing the power of digital storytelling we can help the Gallery to bring art to a whole new audience. Were living in a changing world and there is a real need for new experiences that help open up art and culture to new audiences and crucially help ensure that national institutions such as the National Portrait Gallery and their incredible collections continue to be accessible and have cultural significance for the next generation. MediaCity is a vibrant cultural hub attracting a hugely diverse audience. This combined with its proximity to major transport links and focus on technology made it an obvious choice for premiering our first experience.Stories Brought to Life will combine high quality digital projection, Hollywood-style visual effects, and the latest audio technology with music and creative narratives to tell the stories behind some of the Gallerys best-loved portraits. Cinesite acts as Frameless content production partner.The National Portrait Gallery aims to share our unique collection of portraits with as wide an audience as possible and explore the human stories that shape our history and culture, Rosie Wilson, Director of Programmes, Partnerships and Collections at the National Portrait Gallery. This exciting new partnership with Frameless, inspired by our Collection, will enable us to take these stories outside of the Gallery walls and bring them to life in new, innovative ways.We are honored that the National Portrait Gallery and Frameless have chosen MediaCity as the first stop on the tour of this unique immersive experience, concluded Caroline Aikman, Director of Marketing, Brand and Place at MediaCity. Weve hosted many arts and culture events, experiences, festivals and exhibitions over the last few years and we cant wait to welcome visitors to Salford when the experience opens its doors in May.Source: Frameless Creative Journalist, antique shop owner, aspiring gemologistL'Wrenbrings a diverse perspective to animation, where every frame reflects her varied passions.

Kerry Wan/ZDNETSamsung's Big Bad Galaxy phone has arrived, and it's almost everything I expected. The Galaxy S25 Ultra, which starts at a bold $1,299 price tag, remains the company's do-everything handset, with a more durable display than ever, an upgraded camera system with some useful editing tricks, and the infamous S Pen stylus. Oh, and yes, AI is everything, everywhere, all at once.Also:Everything announced at Samsung Unpacked 2025: Galaxy S25, Gemini AI, moreWhile last year's Galaxy S24 series ushered in Samsung's Galaxy AI era, this year feels more like the company cementing itself as the leader in the space, besting Apple and even Google (for now) on features and capabilities. Of course, how decorative that honor is ultimately depends on how invested you are in using AI.I spent an intimate afternoon with the new Galaxy S25 phones, with a particular focus on the flagship Galaxy S25 Ultra, and wasn't too surprised to find myself equal parts fascinated, equal parts bored. After all, this is now Samsung's fifth iteration of the S-series Ultra model, and the changes year-over-year have been modest, to be generous. But if even a part of you is considering upgrading to the latest Galaxy flagship, here are the changes you should know about.1. A slimmer, more durable design Kerry Wan/ZDNETThe Galaxy S Ultra has always been a big-phone, two-handed affair, and that holds true this year. In the hand, the S25 Ultra feels like the fanciest calculator ever (and I say that in a nice way), with its squared-off edges and tall stature.Fortunately, the device is not as top-heavy as I remember previous models being. In fact, the S25 Ultra is lighter than its predecessor by 16 grams, and Samsung says it's the company's thinnest-ever S-series device. That is, until the Galaxy S25 Edgereleases.Also:I went hands-on with the Samsung Galaxy S25 - and the AI features were surprisingly polishedThe other notable design upgrade is the Corning Gorilla Armor 2 layered over the front display. It doesn't take away from the anti-reflection surface treatment that made headlines on last year's S24 Ultra, yet promises improved drop protection and scratch resistance. I remember my S24 Ultra having numerous micro-scratches after just a week of usage, so I'm hopeful that the S25 Ultra will hold up better this time around.Now if only Samsung could bring back the glory days of psychedelic Aura Glow finishes. These S25 Ultra colors are not it.2. The best AI phone by Samsung (and Google) Kerry Wan/ZDNETUnder the hood is a new Qualcomm Snapdragon 8 Elite chip, the same processor powering competing Android phones like the OnePlus 13 and Honor Magic 7 Pro. The most notable benefit of the chipset comes in the form of AI experiences -- specifically, a 40% increase in NPU performance compared to last year's Snapdragon 8 Gen 3.In layman's terms, on-device AI features should take up less bandwidth and power to operate while also functioning quickly. I saw the results in person, placebo effect or not, as my S25 Ultra demo unit swiftly removed subjects (along with their shadows) from the background of photos via Generative Edit and pulled up Gemini search results in a matter of seconds.Also: I may finally ditch my Google Pixel for a Samsung Galaxy phone in 2025. Here's whyYou can also chalk up the performance to the enhanced Gemini app, which can now be fired up with a long press of the power button. Previously, Samsung phones were limited to Bixby -- or Google Assistant, if you made some higher-level, backend modifications.The new Gemini app can handle natural-sounding, conversational chains of actions, like telling the AI assistant to look up the upcoming schedule of your favorite sports team and adding the date(s) to your calendar. While the agent-like capability mainly works across Google and Samsung apps, some third-party services like Spotify are supported, too.Considering last year's S24 series introduced Google's Circle to Search feature, and this year's S25 series is doing the same for the enhanced Gemini experience, it wouldn't be farfetched to say that Samsung, not Google, makes the best AI phone for Android users right now.3. Camera features fit for professionals Kerry Wan/ZDNETOne of the key reasons to buy a Galaxy Ultra phone is still the camera, though Samsung hasn't improved the specifications much this year -- at least on paper. The only hardware change this year is with the 50-megapixel ultrawide lens (up from 12MP), which yields greater detail and vividness, especially when capturing macro photos. The rest of the lenses, such as the 200MP wide, 50MP 5x telephoto, and 10MP 3x telephoto, are identical to last year's S24 Ultra. Boo.Also:The best Android phones to buy in 2025There's a bigger focus on the software side of things, with Samsung introducing helpful photo and video features like 10-bit HDR video recording by default to capture a wider dynamic range, a new Audio Eraser feature that lets you adjust the volumes of various frequencies (classified as audio subjects like voices, wind, and noises), and the ability to record in Galaxy Log mode.The latter feature allows you to better spot overexposed areas and adjust the dynamic range as you're recording videos, while also applying LUTs in post for better color and light control. How all of these new features fare in the real world is what I'm most interested in seeing. I'll test the S25 Ultra over the next few weeks, so stay tuned for the updates. The reason to skip the Galaxy S25 UltraThis one's fairly obvious, but with how enticing Samsung and other major retailer's offers can be, let this be a reminder that you don't have to upgrade your phone every year or two. When I first tried the S25 Ultra, I was quite surprised by how similar it felt overall to older flagships like the S22 and S23 Ultra.Samsung has also confirmed that most of the new AI features, especially the ones embedded into One UI 7, will eventually trickle down to older Galaxy phones, so if the latest software is part of the reason why you're considering upgrading, you should reconsider.The Samsung Galaxy S25 Ultra is available for preorder today with a starting price of $1,299 for the 12GB of RAM and 256GB of storage variant. You'll have a choice of Titanium SIlverblue, Titanium Whitesilver, Titanium Gray, and Titanium Black if you're shopping through a major retailer or carrier, and have more colorful options if you buy directly from Samsung.Samsung Unpacked

The Samsung Galaxy S25 and Galaxy S25 Plus won't break new ground, but the refinements and polish make them easy to recommend.

LAS VEGAS, NEVADA - NOVEMBER 21: UFC commentator Daniel Cormier looks on during the UFC 255 event ... [+] at UFC APEX on November 21, 2020 in Las Vegas, Nevada. (Photo by Jeff Bottari/Zuffa LLC)Zuffa LLC via Getty ImagesDaniel Cormier is online.Recently, the former UFC heavyweight and light heavyweight champion took to X to reply to a post from MMA Uncensored. Cormier took umbrage with the account posting an old quote seemingly out of the blue.In the post, the account featured a quote from Cormier about his rival Jon Jones on an infographic. The quote is from an episode of the Pound 4 Pound podcast when Cormier was a guest of Henry Cejudo and Kamaru Usman.It reads: There will be a person that comes along that people will replace Jon Jones as the greatest of all time. He has not left such a legacy that it doesnt feel like it will be toppled.Cormier replied to the post: This is a take from 3 years ago?MORE FOR YOUThe post isnt exactly fresh, but its not three years old. It came from Cormiers appearance on the podcast in an episode that was posted on September 26. Cormiers words came in response to a comment from Usman.The former UFC welterweight champion called Jones the Michael Jordan, LeBron James, or Tom Brady of MMA. Cormier scoffed at that lofty comparison, citing Jones suspensions for the use of banned substances and other struggles.The post does seem to be a strange one considering neither Cormier nor Jones were figuring prominently in MMA news, but the account didnt specify when the quote was used. Perhaps they should have, to eliminate any confusion.The Cormier-Jones rivalry is the best in the history of the sport. The bad bloodespecially on Cormiers sideseems to run deep. They are quite possibly the two greatest light heavyweights and among the greatest heavyweights of all time.LAS VEGAS, NV - JANUARY 03: Light heavyweight champion Jon Jones (R) punches Daniel Comier during ... [+] the UFC 182 event at the MGM Grand Garden Arena on January 3, 2015 in Las Vegas, Nevada. Jones retained his title by unanimous decision. (Photo by Steve Marcus/Getty Images)Getty ImagesWhile Cormier lost two fights to Stipe Miocic at the end of his career, you could argue that, in his prime, the only man capable of beating him was Joneswho got the better of him twice, though the last one was turned into a no contest.Jones is seemingly moving toward an epic defense of his UFC heavyweight championship against reigning interim champ Tom Aspinall. No date has been set, but most expect the fight to happen at some point late in the spring or early in the summer.The fight seems like a strong possibility to happen at International Fight Week.Whats Next for the UFC?There is no UFC event this weekend, which might also explain the post. The promotion gets back to action on February 1 with a card from Riyadh, Saudi Arabia.Here is a look at the lineup of fights, headlined by Israel Adesanya vs. Nassourdine Imavov.Israel Adesanya vs. Nassourdine Imavov - Middleweight (185 lbs)Sharabutdin Magomedov vs. Michael Page - Middleweight (185 lbs)Sergei Pavlovich vs. Jairzinho Rozenstruik - Heavyweight (265 lbs)Said Nurmagomedov vs. Vinicius Oliveira - Bantamweight (135 lbs)Ikram Aliskerov vs. Andr Muniz - Middleweight (185 lbs)Muhammad Naimov vs. Kaan Ofli - Featherweight (145 lbs)Shamil Gaziev vs. Thomas Petersen - Heavyweight (265 lbs)Terrance McKinney vs. Damir Hadovi - Lightweight (155 lbs)Fares Ziam vs. Mike Davis - Lightweight (155 lbs)Jasmine Jasudavicius vs. Mayra Bueno Silva - Flyweight (125 lbs)Bogdan Grad vs. L. Alexander - Featherweight (145 lbs)Hamdy Abdelwahab vs. Jamal Pogues - Heavyweight (265 lbs)Abdul-Kareem Al-Selwady vs. Bolaji Oki - Lightweight (155 lbs)

Apple is the target of a class action lawsuit alleging that the tech giant has been selling Apple Watch bands containing high levels of PFAS commonly known as forever chemicals without properly informing customers of their presence or associated health risks. Forever chemicals are so called due to their extreme persistence in the environment and inability to break down naturally. They can also build up in the body over time and have been linked to increased cancer risk, immune system suppression, and potential harm to unborn children. Studies are ongoing to determine the level of risk attached to such chemicals.The lawsuit, which was first spotted by The Register after it was filed this week in the Northern District of California, singles out three Apple Watch bands: the Sport Band, Ocean Band, and Nike Sport Band, each of which is made from fluoroelastomer, a fluorocarbon-based synthetic rubber noted for its resilience against skin oils and sweat.Recommended VideosThe class action suit, which includes anyone who has purchased one of the listed bands with or without an Apple Watch, cites a study carried out by University of Notre Dame scientistslast year, which found elevated PFAS levels in several fitness tracker and smartwatch bands, including some manufactured by Apple. The study tested 22 different bands and found high concentrations of perfluorohexanoic acid (PFHxA), a type of PFAS, in some samples.Please enable Javascript to view this contentThe plaintiffs allege that Apple is aware of the presence of PFAS in its products and of their potential dangers. It also accuses Apple of violating Californias consumer protection laws, fraud, negligence, and of unjust enrichment. The action is seeking an injunction to stop the sale of the alleged offending watch bands, as well as monetary penalties.[Apple] could have avoided the unreasonable safety and environmental hazard with available manufacturing alternatives, and its failure to do so while continuing to promise consumers health, wellness, and sustainability is unlawful, unfair, and fraudulent under consumer protection laws, the lawsuit claims.The University of Notre Dames research points out how multiple watch bands are marketed toward sports and fitness enthusiasts. Wearing one during exercise would mean increased sweat contact and open skin pores, offering an easy route for the harmful chemicals to seep into the skin and bloodstream. The researchers dont say which specific bands were tested, but they do mention Apple and Apple/Nike products. It should also be noted that its not currently clear if the three bands mentioned in the lawsuit were part of the study.Digital Trends has contacted Apple for comment on the class action lawsuit and we will update this article when we hear back.Editors Recommendations

Table of ContentsTable of ContentsGalaxy S25 vs. S25 Plus: specsGalaxy S25 vs. S25 Plus: design and displayGalaxy S25 vs. S25 Plus: performance and softwareGalaxy S25 vs. S25 Plus: camerasGalaxy S25 vs. S25 Plus: battery and chargingGalaxy S25 vs. S25 Plus: verdictLike previous years, the early 2025 Samsung flagship phone series contains three models, the Galaxy S25, Galaxy S25 Plus, and the Galaxy S25 Ultra the main differentiator being size. While the Ultra goes all out with specs and extra features like the S Pen and Gorilla Armor 2 glass, the difference is minimized when comparing the more affordable duo.You might think the differences between these two comes down to different display and battery sizes. But as you go into the details, youll notice there are more differences than those immediately visible on the spec sheet. Heres what you need to know about the two devices.Recommended VideosSamsung Galaxy S25Samsung Galaxy S25 PlusDisplay6.2-inch FHD+1080 x 2340 resolutionDynamic AMOLED 2x6.7-inch QHD+1440 x 3120 resolutionDynamic AMOLED 2xRefresh rateAdaptive 1-120HzAdaptive 1-120HzDimensions and weight5.78 x 2.78 x 0.28 inches5.71 ounces6.24 x 2.98 x 0.29 inches6.70ouncesProcessorQualcomm Snapdragon 8 Elite for GalaxyQualcomm Snapdragon 8 Elite for GalaxyMemory and storage12GB/128GB12GB/256GB12GB/256GB12GB/512GBColorsIcyblueNavyMintSilver ShadowIcyblueNavyMintSilver ShadowCameraRear facing:50-megapixel main12MP ultrawide10MP telephotoFront facing:12MP selfieRear facing:50MP main12MP ultrawide10MP telephotoFront facing:12MP selfieBattery4,000mAh4,900mAhCharging25W wired15W wireless4.5W reverse wireless45W wired15W wireless4.5W reverse wirelessPriceStarting from $800Starting from $1,000RelatedPrakhar Khanna / Digital TrendsThe Samsung Galaxy S25 and S25 Plus feature a similar design language as their respective predecessors. You get three vertically aligned cameras on the back, rounded corners, and flat sides. These might look the same as before but theyre slimmer and lighter this year. The Galaxy S25 sheds four grams of weight to measure 162 grams this year, while the Galaxy S25 Plus weighs 190 grams.Both of them feel good in the hand but the Galaxy S25 has the best in-hand feel of any compact phone, including the Pixel 9 and iPhone 16. The smaller flagship sits more comfortably in the hand, as compared to the Galaxy S25 Plus.Coming to the front, the base Galaxy S25 comes equipped with a 6.2-inch FHD+ AMOLED display at 1080 x 2340 pixel resolution and 416 pixels per inch (ppi). The Galaxy S25 Plus sports a sharper and bigger 6.7-inch QHD+ AMOLED display with 1440 x 3120 resolution and 513 ppi.Other than the size and pixel resolution, the displays are similar. Both of them use an LTPO panel so you get an adaptive refresh rate. These displays can go from 1Hz to 120Hz refresh rate when needed.Prakhar Khanna / Digital TrendsThe Galaxy S25 and Galaxy S25 Plus are powered by the Snapdragon 8 Elite for Galaxy chipset. Samsung says that the Qualcomm SoC is tuned to offer better performance on the Galaxy S25 series.While well get more clarity on how they perform in our review later, most of the new features are part of Android 15-based One UI 7. Moreover, Samsung has upgraded the base RAM on the Galaxy S25 from 8GB to 12GB this year. As a result, all three flagship smartphones have the same RAM capacity but differ in storage variants. Like last year, the Galaxy S25 starts at 128GB base storage, whereas the Galaxy S25 Plus comes with 256 gigs of onboard storage in the base variant.There are a slew of new features in One UI 7 that are part of both phones. Theres a new Now Bar thats like Dynamic Island but sits at the bottom of the lock screen. It houses active apps as cards, so when you have things like navigation, stopwatch, and workout going on, theyll be stacked as cards on the lock screen. You can interact with them and switch between the active cards with swipes.Prakhar Khanna / Digital TrendsBoth the Galaxy S25 and Galaxy S25 are said to get better as you use them, thanks to the AI Brief feature. It sends you a brief at 6am and 9pm every day based on data from your Calendar, Samsung Health, and more. For instance, if you havent slept well, itll suggest you go lighter on yourself for the day. These briefs will also include weather information and things like scores and fixtures of your favorite teams.Samsung is also offering an Audio Eraser feature that can detect up to six types of sound in a video to select, separate, and tune the sound to your liking. It works like Apples Audio Mix feature. For example, if you record a person playing an instrument in a noisy environment, you can select the wind disturbance and the public chatter, tone them down, and get better clarity of the instruments sound.There are a bunch of other AI features like AI Select, Circle to Search and more that can potentially make your experience better.Prakhar Khanna / Digital TrendsNot much has changed in terms of optics on the Galaxy S25 and Galaxy S25 Plus. They sport identical cameras and Samsung is relying on Snapdragon 8 Elites prowess to improve details and clarity on these images.Both of these phones have a 50-megapixel main camera with an f/1.8 aperture and 85-degree field of view with optical image stabilization (OIS), a 12MP ultrawide camera with an f/2.2 aperture and a 120-degree field of view, and a 10MP telephoto camera with an f/2.4 aperture, and 3x optical zoom. The selfie shooter is a 12MP sensor with an f/2.2 aperture and an 80-degree field of view.Samsung has improved its color science over the years for better quality photos with each flagship. This year, the company says it has also worked on achieving better shutter speeds, so you can capture moving subjects with ease.Prakhar Khanna / Digital TrendsThe Galaxy S25 and Galaxy S25 Plus battery capacity and charging is unchanged from last year. However, Samsung claims theyll offer better battery life than before.The Galaxy S25 packs a 4,000mAh battery, while the Galaxy S25 Plus houses a 4,900mAh cell, which is very close to the 5,000mAh battery capacity of the Galaxy S25 Ultra. The bigger phone also charges faster at 45 watts, while the Galaxy S25 can only go up to 25W charging speeds. Both the S25 and S25 Plus are still capped at 15W wireless charging and 4.5W reverse wireless charging.Prakhar Khanna / Digital TrendsThe Samsung Galaxy S25 and Galaxy S25 Plus are almost identical. The choice comes down to mostly size preference. If you want a compact phone, the Galaxy S25 should be your choice. Fortunately, you dont lose out on the optics since it features the same camera setup as its bigger sibling. However, youll get a lower-resolution display and slower charging speed.By contrast, if you opt for the Galaxy S25 Plus, you also get a QHD+ display resolution, double the storage in base variant, and faster charging speed. The overall software experience is likely to remain the same on both devices.Editors Recommendations

The South Korean memory-chip maker reported record quarterly and annual results after stronger-than-expected earnings for the final quarter of 2024 on robust chip demand.

The leading technology investment banker would return to the bank at a later date.