Jun
17

There's a beach separating the US and Mexico where families meet on either side of towering border walls — see what it looks like

With revenues of $320 million beating consensus estimates of $307.4 million, Snap surpassed analyst expectations in the first quarter of 2019 — briefly sending its stock soaring.

Read more: Snap beat Wall Street's expectations for Q1 2019 but its user growth is still stalled

Evan Spiegel, Snap's CEO and cofounder, also touted the company's reach with young people during the earnings call, saying that Snap has now reached 75% of all 13- to 34-year-olds in the US.

Snap's user growth remained stalled in the first quarter, highlighting one of the top problems that Spiegel needs to fix as he tries win back investors' trust.

But when it comes to Snap's relationship with advertisers, its first-quarter report card is the latest of numerous encouraging signs, according to the ad-sales-intelligence platform MediaRadar.

MediaRadar analyzed buying patterns, size of ad buys, and product categories on Snap during the quarter.

Among its key findings:

The number of brands placing ads on premium Snapchat Discover channels is up 15% year-over-year this quarter. 58% of first-quarter advertisers are renewing their spend, signaling long-term adoption. 42% of first-quarter advertisers are entirely new to the platform. Brands in the media, entertainment, tech, retail, and apparel categories spend the most. The platform's top 10 advertisers continue to increase their investment. More than 200 brands ran a one-day campaign on Snapchat in the first quarter of 2019.

"The company has a healthy mix of both new and returning clients, and the loyalty of major advertisers like Comcast, Adidas, and Disney," MediaRadar CEO Todd Krizelman said.

One of Snap's biggest hurdles has been that advertisers have long considered it to be a part of their experimental bucket, rather than a must-buy. But that seems to be changing, according to data crunched by MediaRadar.

Fifty-eight percent of advertisers who spent on Snapchat in the first quarter of 2019 are renewing their spend, which indicates that Snapchat is increasingly becoming a part of the recurring spend consideration set. This is a marked improvement from 2018, when only 17% of the advertisers spent on the platform for more than two quarters.

The growth in recurring advertisers can be attributed to the company's shift to programmatic starting to stabilize, as well as investments Snap has made to improve its ads manager, with advanced features such as target-cost bidding and new bulk-uploading capabilities. The fact that Snap now allows advertisers to optimize against important brand goals such as efficient reach and targeting is also drawing in more brand buyers.

"Snap is reducing the friction, making it easier to place ads and also introducing new functionality to target audiences," Krizelman said. "Our numbers show these efforts are paying off."

Snap also seems to be broadening its advertiser base, with MediaRadar estimating that 42% of its first-quarter advertisers are entirely new to the platform. This could be the result of more flexibility, as the platform has started to allow for one-day buys (the previous minimum was three). By reducing the hurdles to buy, Snap is giving advertisers more choice — and hence attracting more brands.

"These shorter buys allow advertisers to advertise at very specific moments if they want to, and the early results are that advertisers are interested," Krizelman said. "In Q1, we saw over 200 brands run a one-day campaign, including brands like Reebok, Monster.com and Dunkin."

Expect that number to swell more, with Jeremi Gorman, Snap's chief business officer, installing a whole new "Scaled Services" sales team focused on bringing more advertisers to the platform.

Original author: Tanya Dua

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Apr
23

Fintech startup SoFi is reportedly in talks to raise $500 million from Qatar, but won't gain any value from 2017

Online lending platform Social Finance is in talks to raise $500 million in funding from the Qatar Investment Authority and others, according to Bloomberg.

The new round would value SoFi around $4.3 billion, the same valuation of its 2017 financing round led by Silver Lake, according to Bloomberg.

Investors have sought protective clauses in the terms of the deal which would safeguard them them in case the company raises money or gets acquired below that price down the road, according to the report.

SoFi declined to comment.

Read more: The 10 people transforming how the world interacts with technology

Though the round is large by venture capital standards, it's just half the size of SoftBank's $1 billion investment in SoFi back in 2015, which valued the company at $2.6 billion. The company also raised money from G Squared in December 2018, according to PitchBook.

SoFi, which offers personal loans, student loans as well as other tools like checking and stock trading, is run by Anthony Noto, the former chief operating officer of Twitter and former managing director at Goldman Sachs.

Noto took on the role in 2018 after SoFi's founding CEO Mike Cagney stepped down amid a sexual harassment scandal at the company, kicked off by a New York Times investigation which characterized the company as "a frat house."

Original author: Becky Peterson

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Jun
17

How to use Zelle, the lightning-fast payments app that's more popular than Venmo in the US

At a recent policy review meeting at YouTube's headquarters in San Bruno, California, the company's chief exec, Susan Wojcicki, weighed-in on a certain set of "challenge" videos that had become wildly popular on the platform, according to a New York Times report last week.

The videos — which make up a phenomenon called the "Condom Challenge" — show a water-filled contraceptive falling onto a person's head in slow motion. Nothing is particularly raunchy about the videos (besides knowing that condoms are being used), and they are, admittedly, fascinating to watch.

The act, however, could potentially be harmful.

But just how harmful was up for debate in the meeting described by The Times and in the complicated world of content moderation, that distinction makes all the difference.

One employee, according to The Times, considered the videos to be "dangerous" — which, if no minors are involved, would allow them to stay on YouTube per the company's policy for challenge and prank specific content.

Wojcicki disagreed, however, and considered them to be "ultrahazardous," — a classification that would force all condom challenge videos to be taken down from the site.

"There's no reason we want people putting any kind of plastic over their head," Wojcicki said in the meeting, according to The Times.

The back-and-forth between YouTube's chief exec and the unnamed staffer highlights just how seemingly arbitrary these distinctions — which can mean all the difference between whether a video stays or goes — seem to be. And while these internal debates may be the most critical part of YouTube's business for it to get right, its ability to produce clear and repeatable results at the company's massive scale may ultimately be its toughest battle yet.

Read more: YouTube's algorithm is under fire for boosting a sexist conspiracy theory about black-hole researcher Katie Bouman

The Times report did describe an internal structure YouTube created to handle controversial cases. According to The Times, an "incident commander" is assigned to each case and oversees the company's response. Alongside senior executives, these incident commanders will hold "content reviews" to decide on whether a video, or group of common videos, should remain.

But can a structure like this — that requires the coordination of senior executives — be applied to every escalation that YouTube faces?

The Times reporter who wrote the original piece, Daisuke Wakabayashi, tweeted last Wednesday that from what he observed during his time in San Bruno, the YouTube's head exec was more likely to handle content questions with a "scalpel" than a "chainsaw" — meaning Wojcicki prefers moving slow to be more precise, rather than dealing with a tough problem in one fell swoop.

"If we're here just being reactive and making arbitrary decisions, it's no longer a fair and just platform for everyone," Wojcicki told The Times reporter. "We want to do it in a way that is carefully thought out and systematic and nuanced so that we understand what are the changes that we're making."

But can YouTube seriously be "systematic and nuanced" in every problematic scenario it faces? How — across the seemingly endless amount of content uploaded onto the platform each day — can that scale?

As Marc S. Pritchard, brand officer of Procter & Gamble, put it in The Times report, YouTube has moved well beyond Wocicski's description of the platform, growing from a small city to a metropolis. Instead, he told Wojcicki, "You grew into a galaxy [and] that has implications beyond anything you would have ever known."

Ultimately, condom challenge videos — the ones that didn't include minors in them — remained.

When asked why YouTube made the decision, a company spokesperson referred Business Insider to its company policy on challenges and pranks.

Apparently, at some point along the way, Wojcicki decided that the videos were merely "dangerous."

Read the full New York Times story on Wojcicki here.

Do you work at Google or Youtube? Got a tip? Contact this reporter via Signal or WhatsApp at +1 (209) 730-3387 using a non-work phone, email atThis email address is being protected from spambots. You need JavaScript enabled to view it., Telegram at nickbastone, or Twitter DM at@nickbastone.

Original author: Nick Bastone

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Jun
17

The glorious history of the best plane Boeing has ever built (BA)

The phrase "mass extinction" typically conjures images of the asteroid crash that led to the twilight of the dinosaurs.

Upon impact, that 6-mile-wide space rock caused a tsunami in the Atlantic Ocean, along with earthquakes and landslides up and down what is now the Americas. A heat pulse baked the Earth, and the Tyrannosaurus rex and its compatriots died out, along with 75% of the planet's species.

Although it may not be obvious, another devastating mass extinction event is taking place today — the sixth of its kind in Earth's history. The trend is hitting global fauna on multiple fronts, as hotter oceans, deforestation, and climate change drive animal populations to extinction in unprecedented numbers.

The United Nations is set to release an 1,800-page assessment of scientific literature on the state of nature on May 6, 2019. Early news of the report from AFP reveals that up to 1 million species will be threatened with extinction within decades, mostly due to human actions.

"The pace of loss is already tens to hundreds of times higher than it has been, on average, over the last 10 million years," according to the report.

Read more: Insects are dying off at record rates — an ominous sign we're in the middle of a 6th mass extinction

Similarly, a 2017 study found that animal species around the world are experiencing a "biological annihilation" and that our current "mass extinction episode has proceeded further than most assume."

Here are 16 signs that the planet is in the midst of a sixth mass extinction, and why human activity is primarily to blame.

Original author: Aylin Woodward

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Apr
23

'Avengers: Endgame' is a mix of a heist movie and revenge tale that is even better than 'Infinity War'

Directors Anthony and Joe Russo have pulled off a rare feat in today's franchise-heavy Hollywood. The brothers didn't just make a stellar movie to close a franchise (or "phase," as it pertains to the Marvel Cinematic Universe), but made a better movie than the penultimate entry.

"Avengers: Infinity War," also directed by the Russos, is great because it gives the movie that follows incredible stakes. I mean, the villain turns some of the biggest stars in the franchise into dust. Can't wait to see the next movie!

But in the past, that formula has often led to audience anticipation the creatives can't live up to. Look at "Return of the Jedi" after "Empire Strikes Back," "The Godfather Part III" after "Part II," or any "Terminator" movie after "Judgment Day." And even if the closing movie has good qualities, you often say to yourself, "Yeah, but the one before, that was great!"

And that's what's so amazing about "Avengers: Endgame" (in theaters Friday): It fulfills everything that was set up in "Infinity War."

One of the biggest surprises about "Endgame" is its tone. Coming off the seriousness of "Infinity War," you would think the movie would be a harsh revenge tale, as the existing Avengers try to avenge not only the friends they lost, but also half the population wiped out by Thanos. But in fact, there's a lightheartedness that flows through the movie and never feels out of place. That is a big help since "Endgame" is three hours long.

Disney And that fun factor comes from how the Avengers think they can win: through time travel.

I'm not going to give a lot away about the movie, but as you've probably seen Scott Lang (Paul Rudd) in the trailers, you know he's returned from the quantum realm — which is where we saw him last in "Ant-Man and the Wasp" — which means you know from that movie the time-travel angle is out there.

It's hard to not have fun with a time-travel plot. That includes figuring out how the time travel works as well as putting a spin on it that makes fun of classic time-travel movies. (Sorry, in the MCU time travel doesn't work like "Back to the Future.") Add a heist aspect — again, not going to get into details — and you have gold.

But that doesn't means there isn't drama. Getting back at Thanos has led some of the Avengers to take things pretty hard in their own ways. How it has affected Thor (Chris Hemsworth) leads to some of the funniest moments in the movie. But what Hawkeye (Jeremy Renner) has gone through is quite dark.

Read more: "Avengers: Endgame" is poised to shatter the opening-weekend box-office record

What's hugely satisfying about "Endgame" is there is closure. Nothing is open ended. Outside of laying the groundwork for how some of the characters will move forward after phase one of the MCU, the movie answers all questions.

And you don't get cheated on the action either. The movie has one of the most fulfilling, all-out battle sequences that I've seen in a long time.

Now, a few tips as you prepare to go see the movie:

If you can, go back and watch the "Captain America"-focused movies and "Infinity War." Pack some extra tissues. And (this may be the most important) go to the bathroom before the movie starts.
Original author: Jason Guerrasio

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Apr
23

Twitter CEO Jack Dorsey and Trump met behind closed doors to discuss social media ahead of the 2020 election

Twitter executives met with President Donald Trump on Tuesday to discuss the health of conversation on the platform ahead of the 2020 presidential election.

Trump shared a picture on Twitter of the meeting that showed CEO Jack Dorsey and a number of other Twitter executives in the Oval Office.

During the meeting, Trump and Twitter execs discussed the social platform's "commitment to protecting the health of the public conversation ahead of the 2020 U.S. elections," a Twitter spokesperson told Business Insider.

In an internal email circulated among Twitter employees that was leaked to Motherboard, Dorsey said he believed such conversation with Trump "bridges gaps and drives towards solutions."

"I have met with every world leader who has extended an invitation to me, and I believe the discussions have been productive, and the outcomes meaningful," Dorsey wrote in the email. "Some of you will be very supportive of our meeting [with] the president, and some of you might feel we shouldn't take this meeting at all. In the end, I believe it's important to meet heads of state in order to listen, share our principles and our ideas."

Read more: Trump blasts Twitter as 'very discriminatory,' says the social-media company removes his followers

The Tuesday meeting with Twitter executives came hours after Trump took to his personal Twitter account to blast the social-media platform for what he called "very discriminatory" behavior against him, which he said included lowering his follower count. He also said Twitter was playing "political games" and that he'd heard "big complaints from many people."

Trump has a history of leveling accusations of political bias at big tech companies, such as Facebook and Google. However, he's called out Twitter in particular. In November, Trump tweeted that the social-media platform was removing followers of his Twitter account.

But big names have seen their follower counts decrease in the past as Twitter clamps down on bots and inactive accounts. In July 2018, for example, Twitter removed inactive accounts that may have been taken over by bots, and Dorsey himself lost 200,000 followers.

Twitter is often criticized by both liberals and conservatives. Some critics say that the social-media company hasn't done enough to monitor Trump's presence on the platform. Some have criticized Twitter for letting Trump stay on the platform even after his actions and tweets have appeared to violate Twitter's rules.

However, Twitter has said that blocking a "world leader" such as Trump from the platform would "hide important information people should be able to see and debate."

During Tuesday's meeting, Trump and Twitter executives also discussed "efforts underway to respond to the opioid crisis," the Twitter spokesperson said.

A new post on Twitter's blog details the platform's efforts to "help prevent drug misuse, curb illegal online drug sales, and promote public health information." This includes reviving an awareness campaign on Twitter in partnership with the US government to encourage people to bring their leftover prescription-drug bottles to designated drop-off locations to prevent drug misuse.

Original author: Paige Leskin

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Apr
23

Postmates has launched in 1,000 new cities since December

Postmates is expanding like crazy ahead of an initial public offering expected later this year. The food delivery business has launched in 1,000 new cities since December, the company announced today.

San Francisco-based Postmates now operates its on-demand delivery platform, powered by a network of local gig economy workers, in 3,500 cities across all 50 states. Postmates does not yet operate in any international markets aside from Mexico City.

“We want to enable anyone to have anything delivered on demand and this latest expansion allows us to deliver on that promise across all 50 states in the US,” Postmates co-founder and chief executive officer Bastian Lehmann said in a statement.

The company says it now reaches 70 percent of U.S. households and delivers food from some 500,000 restaurants, helping it to compete with food-delivery powerhouses Uber Eats and DoorDash. Additionally, Postmates recently launched Postmates Party, a new feature that lets customers within the same neighborhood pool their orders.

Postmates is poised to follow Uber into the public markets. The company — which has raised more than $670 million in venture capital funding, including a $100 million pre-IPO financing in January that valued the business at $1.85 billion — filed confidentially for a U.S. IPO in February.

The company completes 5 million deliveries per month and was reportedly expected to record $400 million in revenue in 2018 on food sales of $1.2 billion. Uber Eats, for its part, was expected to begin reaching 70 percent of the U.S. households by the end of 2018 and reportedly has plans in the works to use drones to deliver food by 2021.

DoorDash, meanwhile, is a rocketship. The food delivery company is active in 3,300 cities and claims to be growing 325 percent year-over-year. The company recently closed a $400 million Series F financing at a $7.1 billion valuation. It’s likely to go public in the next year, too.

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Jun
28

Apple's departed: Here's everyone who's left Apple recently (AAPL)

Saleswhale, a Singapore-based startup that uses AI to help marketers and salespeople close deals, has announced a Series A round worth $5.3 million.

The investment is led by Monk’s Hill Ventures — the Southeast Asia-focused firm that took part in Saleswhale’s seed round in 2017 — with participation from existing backers GREE Ventures, Wavemaker Partners and Y Combinator. That’s right, Saleswhale is one a select few Southeast Asian startups to have been through YC, it graduated back in summer 2016.

Saleswhale — which calls itself “a conversational email marketing platform” — uses AI-powered “bots” to handle email. In this case, its digital workforce is trained for sales leads. That means both covering the menial parts of arranging meetings and coordination, and the more proactive side of engaging existing leads.

Back when we last wrote about the startup in 2017, it had just half a dozen staff. Fast-forward two years and that number has grown to 28, CEO Gabriel Lim explained in an interview. The company is going after more growth with this Series A money, and Lim expects headcount to jump past 70; Saleswhale is deliberating opening an office in California. That location would be primarily to encourage new business and increase communication and support for existing clients, most of whom are located in the U.S., according to Lim. Other hires will be tasked with increasing integration with third-party platforms, and particularly sales and enterprise services.

The past two years have also seen Saleswhale switch gears and go from targeting startups as customers, to working with mid-market and enterprise firms. Saleswhale has over one hundred customers that include recruiter Randstad, educational company General Assembly and enterprise service business Unit4. As it has added greater complexity to its service, so the income has jumped from an initial $39-$99 per seat all those years ago to more than $1,000 per month for enterprise customers.

SalesWhale’s founding team (left to right): Venus Wong, Ethan Le and Gabriel Lim

While AI is a (genuine) threat to many human jobs, SalesWhale sits on the opposite side of that problem in that it actually helps human employees get more work done. That’s to say that SalesWhale’s service can get stuck into a pile (or spreadsheet) of leads that human staff don’t have time for, begin reaching out, qualifying leads and sending them on to living and breathing colleagues to take forward.

“A lot of potential leads aren’t touched” by existing human teams, Lim reflected.

But when SalesWhale reps do get involved, they are often not recognized as the bots they are.

“Customers are often so convinced they are chatting with a human — who is sending collateral, PDFs and arranging meetings — that they’ll say things like ‘I’d love to come by and visit someday,’ ” Lim joked in an interview.

“Indeed, a lot of times, sales team refer to [Saleswhale-powered] sales assistant like they are a real human colleague,” he added.

Note: The original version of this article has been corrected to reflect that Monk’s Hill Ventures participated in Saleswhale’s seed round, it didn’t lead it. While we have adjusted that the startup has over one hundred customers rather than “hundreds.”

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Apr
23

The master list of PR DON’Ts (or how not to piss off the writer covering your startup)

When it comes to working with journalists, so many people are, frankly, idiots. I have seen reporters yank stories because founders are assholes, play unfairly, or have PR firms that use ridiculous pressure tactics when they have already committed to a story.

There is so much bad behavior that I thought that it might be time to write up a list of “DON’Ts” on how not to work with journalists.

I compiled this list by polling TechCrunch’s entire writing staff for their pet peeves when it comes to working with PR folks and founders around startup pitches. The result was this list of 16 obnoxious annoyances.

The interesting thread that connects all of them is that these DON’Ts are almost universal across the staff — few of these annoyances seemed to be merely personal preference. Avoiding these behaviors won’t guarantee coverage of your startup, but they certainly will help you avoid killing your news story before it even gets considered for publication.

DON’T change the capitalization of your startup multiple times

SEO is important, and so there are rules about how to capitalize things to maximize your exposure on Google and DDG. That’s important to get right, but for the love of god, figure out what the hell you want your startup’s name to be before you reach out to the press.

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Apr
23

Squarespace makes its first acquisition with Acuity Scheduling

Squarespace is announcing its first acquisition today, a 13-year-old company called Acuity Scheduling that allows businesses to manage their online appointments.

Squarespace CEO Anthony Casalena noted that the company has been expanding beyond website building already — he said he now wants to provide tools around online presence (i.e. building a website), commerce and marketing.

To do that, Squarespace has been building its own products, but in this case, Casalena said it made more sense to just bring Acuity on-board, particularly because there’s already an integration between Acuity’s scheduling software and Squarespace’s page-building tools.

“What [CEO Gavin Zuchlinski] had built at Acuity is a great business,” he said. “It’s been growing pretty organically up until this point, with 45 employees who really understand the space and a very customer-centric culture. They have a great product. That would just be faster for us [to acquire them], versus building our own product.”

The plan is to build more integrations over time, while also continuing to support Acuity as a standalone product. The entire Acuity team is joining Squarespace, with Zuchlinski become vice president of Acuity within the larger company.

Asked whether this means we can expect Squarespace to make more acquisitions in the future, Casalena said, “I think we just are able to look at things that are going to be a little more meaningful right now … Our size kind of opened our perspective to what’s possible.”

This also comes as the email marketing product that Squarespace launched last year is coming out of beta with new features like campaign scheduling and improved analytics.

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Nov
14

The CEO of Amazon Web Services told employees its cloud was '24 months ahead of Microsoft in functionality and maturity' (MSFT, AMZN)

Group Nine Media has hired Brian Lee as its first executive vice president of commerce.

Lee held a similar role at Maker Studios before its acquisition by Disney, and he also founded the New York-based accelerator SKIG. Group Nine — which was created by the merger of Thrillist, NowThis Media, The Dodo and Discovery-owned Seeker — says Lee’s job will include licensing, merchandising, affiliate advertising and direct-to-consumer products.

“Group Nine has some of the most loved and impactful brands, coupled with the ability to leverage a host of deeply powerful insights,” Lee said in a statement. “I believe we are uniquely positioned to make huge strides in this space and can’t wait to get started.”

When I met with Group Nine CEO Ben Lerer earlier this year, he laid out his vision for the company moving forward.

“We’re successfully building brands — not to be distributed over a paid TV pipe, not to sit back and watch on your TV passively,” Lerer said. “Instead, we’re building brands for the kind of content consumption that someone who’s grown up with a smartphone in their pocket patronizes. What we’re doing is shows and characters and telling stories that are meant to be delivered via Facebook, via YouTube, via Snapchat, via Twitter.”

That kind of strategy, where a publisher relies on third-party platforms to reach their audience, has been disastrous for other digital media companies, but Lerer sounded pretty confident, particularly as the company gets smarter about which shows to invest in: “We’re making less and less content that is disposable every month than we did the month before.”

That approach seems to tie into Group Nine’s commerce strategy. In today’s announcement, Lerer said, “We have some of the most engaging brands on mobile, built around deeply dedicated communities of loyal fans so it’s imperative that we make the most of the opportunities that presents.”

Citing Nielsen, Group Nine says its content reaches nearly 45 million Americans every day. Business Insider also reported recently that the company is in talks to merge with women’s lifestyle media company Refinery29.

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Jun
17

The PlayStation 4 is getting 4 incredible-looking exclusive games starting this September — take a look

The RealReal, an online retailer for authenticated luxury consignment, has authorized the sale of up to $70 million in new shares, per a Delaware stock authorization filing discovered by the Prime Unicorn Index. If the company raises the entire amount, it would reach a valuation of $1.06 billion, cementing its status as the newest e-commerce unicorn.

The filing doesn’t guarantee The RealReal will sell the full amount of authorized shares. The company declined to comment on its fundraising plans.

The RealReal is led by founder and chief executive officer Julie Wainwright (pictured), the former CEO of Pets.com, a company now synonymous with the dot-com bust. It has raised quite a bit of capital to date — a total of $288 million from venture capital and private equity backers, including Great Hill Partners, Sandbridge Capital, PWP Growth Equity, Industry Ventures, Greycroft Partners and Canaan Partners. Most recently, The RealReal closed a Series G financing of $115 million in July 2018 that valued the business at $745 million, per PitchBook.

The RealReal has recently expanded its brick-and-mortar footprint and added additional e-commerce fulfillment centers as demand increased for its supply of second-hand luxury items. Founded in 2011, the company operates eight luxury consignment offices, where customers can receive free valuations of their luxury items. The RealReal is headquartered in San Francisco.

In a conversation with TechCrunch in 2017, Wainwright confirmed the company’s intent to go public at some point. With this upcoming round, The RealReal would be well placed for a 2020 initial public offering.

“That’s the goal,” Wainwright said during the interview. “We really aren’t in the mood to sell the business, we’re in the mood to go public at some point in the future.”

The RealReal competes with fellow second-hand e-tailers ThredUp and Poshmark . The latter is gearing up for a fall IPO, according to The Wall Street Journal. The online marketplace has tapped Morgan Stanley and Goldman Sachs to lead its offering after closing in on $150 million in revenue in 2018. ThredUp, another major player in the fashion retail market, hasn’t raised capital since 2015, but did begin opening physical stores in 2017 as part of its greater effort to compete with fellow venture-backed second-hand e-tailers.

The RealReal would also be the latest in a series of high-profile female-founded companies to gain unicorn status. Glossier tripled its valuation to $1.2 billion with a $100 million round earlier this year, followed by Rent the Runway, which attracted a $125 million investment at a $1 billion valuation, to name a few.

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Apr
23

Defy Colorado Graduation and Coaching Events

Defy Colorado is growing nicely after some overall challenges with the national organization in 2018. Defy Colorado is now a separate 501c(3) and my partner Jason Mendelson and his wife Jenn Mendelson have been playing a huge leadership role with the Defy Colorado team.

Defy is in the business of building restorative communities and that community begins with us. On Wednesday, April 24th at noon at the Dairy Center they are celebrating the graduation of two special EITs who were released before they had the chance to officially graduate from the CEO of Your New Life Program. The afternoon will feature a primer on Defy Colorado and its work in Colorado prisons, a panel discussing transformative change, and the opportunity to hear energizing pitches from our graduates. Don’t miss it – register now.

Defy Colorado also has a business coaching session coming up on May 16th at the Arkansas Valley Correctional Facility in Ordway, Colorado. There will be up to 40 volunteers and 40 Entrepreneurs-in-Training at the event for the day. If you are interested in joining, reach out by email to This email address is being protected from spambots. You need JavaScript enabled to view it.

Original author: Brad Feld

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Apr
23

Locus Robotics raises $26 million for warehouse automation

Warehouse automation is all the rage in robotics these days. No surprise then, that another emerging player just got a healthy slice of venture funding. Massachusetts-based Locus Robotics this week announced that it has secured a $26 million Series C. The round, led by Zebra Ventures and Scale Venture Partners, brings the startup’s total funding to around $66 million.

The five-year-old company produces robotic shelving designed to transfer bins inside of warehouses. Founder Bruce E. Welty was onstage at our robotics event back in 2017 demonstrating the technology.

It’s a similar principle to many other players in the space, including Amazon’s Kiva and Bay Area-based Fetch. And like those companies, Locus has garnered interest from some big players — most notably delivery giant, DHL.

The robotics automation space has heated up quite a bit in 2019. Colorado-based Canvas, which makes autonomous warehouse delivery carts, was acquired by Amazon last week. Even Boston Dynamics is looking at the category as a way forward for its own impressive technologies, putting its robot Handle to work in a fulfillment center.

“We have seen a massive uptick in demand for the flexible automation incorporated into Locus’s multi-bot solution, which is uniquely suited to address these challenges,” CEO Rick Faulk says in a release tied to the news. “Not only is our solution proven to dramatically improve productivity and drive down costs, but it is also a source of scalable labor that can be adapted to meet the demands of numerous product and customer profiles. This new funding will enable us to scale to meet growing demand for our revolutionary solution worldwide.”

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Apr
23

Canoo, the electric vehicle startup formed from Faraday Future’s ashes, seeks $200 million

Less than a month after rebranding as Canoo, the startup electric vehicle company formerly known as Evelozcity is on the hunt for $200 million in new capital.

The startup, which is backed by a clutch of private individuals and family offices hailing from China, Germany and Taiwan, is hoping to line up the new capital from some more recognizable names as it finalizes supply deals with vendors, according to a person with knowledge of the company’s plans.

Canoo is locking in final contracts with its vendors and is going to be in production with prototypes before the end of the year. The company, which will make its vehicles available through a subscription-based model, already has 400 employees and just announced new key hires along with its rebranding.

It’s a quick ramp for a company that only two years ago was struggling to extricate itself from the morass that was Faraday Future.

Canoo began life as Evelozcity back in 2017. It was formed after Stefan Krause, a former executive at BMW and Deutsche Bank, and another former BMW executive, Ulrich Kranz, absconded from Faraday Future amid that company’s struggles.

Reportedly, Krause and Kranz left over repeated clashes with Faraday’s founding team of Jia Yueting, the main investor and shareholder, and Chaoying Deng, according to the Verge.

The situation at Evelozcity became so toxic that after the two men left, Jia accused them of “malfeasance and dereliction of duty.”

The company was launched in secret, but news of its existence came to light after Faraday Future filed a lawsuit accusing the new company of the theft of trade secrets.

Now, Canoo is rounding out its executive team and pushing forward with plans to bring prototype vehicles to market by the end of the year.

Olivier Bellin joined the company as its head of operations from STMicroelectronics, a Geneva-based semiconductor company where he served as chief financial officer of the company’s U.S. operations.

Former president of BMW manufacturing Clemens Schmitz-Justen also joined the company as its head of manufacturing — overseeing the contract manufacturing strategy, which will see the company outsource production of vehicles in the U.S. and China.

Canoo said that it intends to use a modular “skateboard” approach to its vehicle design where different form factors can rest atop its chassis. The company touts that its different cabins can be tailored to suit the needs of different customers — ranging from commuter vehicles, public or group transportation, delivery vehicles and private cars.

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The company is also crafting its user interface and subscription services around its passengers and renters. To that end, Canoo has brought on James Cox, a former Uber executive in charge of product operations for the ride-hailing business’ rider application, who will be developing digital products for the company’s initial customers, according to a March statement.

Initially, Canoo will target customers in Los Angeles and the Bay Area, with additional plans to expand to San Diego and Seattle when the company brings its commercial vehicles to market in 2021.

Canoo plans to use blockchain technology to secure its subscription services and ensure an asset-light approach to development by outsourcing its manufacturing in the U.S. and China, according to one person with knowledge of the company’s plans.

With the development of that subscription model, the car company is taking a page from the playbook other automakers are beginning to toy with. Despite the fact that Cadillac cancelled its Book subscription service late last year, companies like BMW, Volvo and Porsche have all pressed on with their experiments with subscriptions.

As it rolls out its subscription service, Canoo is targeting a lower price point than its competitors for its fully electric and “autonomous-ready” vehicles.

At the end of the day the company believes that there are more than 35 cities around the world that are suitable for its offering.

And now that the lawsuits are over and Faraday Future continues to wobble, it seems that plans for Canoo are gathering steam.

The rebranding effort, and the company’s new name itself, is indicative of its goals.

“We picked Canoo because it sounds distinctive, looks cool and creates a feeling of both relaxation and movement,” said Krause, in a statement. “For thousands of years, a canoe has been a simple, sustainable transportation device used all over the world.”

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23

Digging into key takeaways from our 2019 Robotics + AI Sessions event

Extra Crunch offers members the opportunity to tune into conference calls led and moderated by the TechCrunch writers you read every day. This week, TechCrunch’s Brian Heater and Lucas Matney shared their key takeaways from our Robotics + AI Sessions event at UC Berkeley last week.

The event was filled with panels, demos and intimate discussions with key robotics and deep learning founders, executives and technologists. Brian and Lucas discuss which companies excited them most, as well as which verticals have the most exciting growth prospects in the robotics world.

“This is the second [robotics event] in a row that was done at Berkeley where people really know the events; they respect it, they trust it and we’re able to get really, I would say far and away the top names in robotics. It was honestly a room full of all-stars.

I think our Disrupt events are definitely skewed towards investors and entrepreneurs that may be fresh off getting some seed or Series A cash so they can drop some money on a big-ticket item. But here it’s cool because there are so many students. robotics founders and a lot of wide-eyed people wandering from the student union grabbing a pass and coming in. So it’s a cool different level of energy that I think we’re used to.

And I’ll say that this is the key way in which we’ve been able to recruit some of the really big people like why we keep getting Boston Dynamics back to the event, who generally are very secretive.”

Brian and Lucas dive deeper into how several of the major robotics companies and technologies have evolved over time, and also dig into the key patterns and best practices seen in successful robotics startups.

For access to the full transcription and the call audio, and for the opportunity to participate in future conference calls, become a member of Extra Crunch. Learn more and try it for free. 

 

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Apr
23

1Mby1M Virtual Accelerator Investor Forum: With Harald Nieder of Redalpine Venture Partners (Part 5) - Sramana Mitra

Sramana Mitra: In the other two parts of the portfolio where things are coming by referral, is there anything specific that’s interesting that you would like to discuss? Harald Nieder:...

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Original author: Sramana Mitra

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Apr
23

441st Roundtable For Entrepreneurs Starting NOW: Live Tweeting By @1Mby1M - Sramana Mitra

Today’s 441st FREE online 1Mby1M Roundtable For Entrepreneurs is starting NOW, on Tuesday, April 23, at 8 a.m. PDT/11 a.m. EDT/5 p.m. CEST/8:30 p.m. India IST. Click here to join. All are...

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Original author: Maureen Kelly

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Apr
23

441st Roundtable For Entrepreneurs Starting In 30 Minutes: Live Tweeting By @1Mby1M - Sramana Mitra

Today’s 441st FREE online 1Mby1M Roundtable For Entrepreneurs is starting in 30 minutes, on Tuesday, April 23, at 8 a.m. PDT/11 a.m. EDT/5 p.m. CEST/8:30 p.m. India IST. Click here to join. All...

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Original author: Maureen Kelly

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Apr
23

Atlassian Acquires From its PaaS Marketplace - Sramana Mitra

Enterprise collaboration software provider Atlassian (Nasdaq: TEAM) has been steadily building up its portfolio through acquisitions. This last quarter was no different as the company continued to...

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Original author: MitraSramana

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