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Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.

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SEC proposes paying gig workers in equity

The U.S. Securities and Exchange Commission has a pilot program to allow tech companies like and to pay gig workers a portion of their annual compensation in equity rather than cash.

The agency says the proposal is intended to modernize the system for compensation, in an effort to provide workers an opportunity to share in the growth of the business. Until now, SEC rules have not allowed companies to pay gig workers in equity.

Under the proposed rules, equity pay for gig workers would be capped at 15 percent of annual compensation or $75,000 in three years.

Funding rounds

• India’s Unacademy raises round at $2B valuation:聽India-based online learning platform has a funding round of between $75 million and $100 million at a valuation of $2 billion, with backing from .
• RevLifter secures 3.3 million euros for e-commerce platform: raised 3.3 million euros in a Series A round led by and . The London-based company is developing an e-commerce deals personalization platform that is poised for global scale.

Public offerings

• Metromile to go public via SPAC:聽, the pay-per-mile auto insurer, that it plans to go public on Nasdaq through a merger with INSU Acquisition Corp. II, a publicly-traded special purpose acquisition company, or SPAC.

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