Feb
06

I, for one, welcome our robotic waffle-stacking overlords

Tonsser, the Copenhagen-based startup that offers a “football performance app” aimed at youth soccer players who want to build their own online profile and potentially get discovered by a bigger club, has raised €5.5 million in Series A funding. The round is led by Alven Capital, with participation from existing investors SEED Capital and Wellington Partners

Currently launched in eight European countries — including France, Germany, Denmark, Sweden, and Norway — and claiming more than 800,000 football players registered on the app, Tonsser could well be described as akin to a LinkedIn for youth soccer players, perhaps with a bit of Instagram thrown in, but actually the company’s mission is a lot more defined than that.

As reiterated in a call this week with Peter Holm, the soccer app’s co-founder and CEO, Tonsser wants to make it easier for young soccer talent to become better players by learning and being inspired by each other and through sponsored competitions and soccer skills content. And, perhaps more lofty, the Danish startup wants to make the beautiful game more meritocratic by enabling unsigned talent to be discovered by professional football clubs through the app, and in turn help the soccer industry become more accountable. Impressively, he says this has already started happening.

At the heart of this mission is Tonsser’s increasing emphasis on using technology and data — namely, sporting metrics — to help bubble up undiscovered players. The iOS and Android app’s features include the ability to create your own soccer profile, upload and share photo and videos of match highlights, add various match and team stats, and follow other clubs and players. Tapping into some of this data is Tonsser’s algorithm that gives every player registered on the app a dynamic score.

“After a match the Tonsser algorithm computes a rating for each player based on the individual performance, the performance of the team and ‘Man of the Match’ votes from teammates,” explained Holm in a follow-up email.

“The rating system has been developed and tested over the past 3 years with pro licensed coaches and academies to provide the most accurate calculation for each player. Match after match and season after season the rating becomes the reference point for each player and the gateway for leaderboards, awards like Team of the Week and Player of the Season and also for pro trials, scout reports and the chance of getting discovered by clubs and scouts”.

It’s this data — or discovery engine — along with brand partnerships, and sponsored content, competitions and trials (see video below), that forms Tonsser’s business model. The app is free for players and coaches, but scouts pay for special access. Related to this, I’m told that premier League clubs like Huddersfield are now using Tonsser to identify and scout youth talent.

To enhance this in 2019, Tonsser will add integrations with “automated video recordings” using computer vision, enabling players and teams to catch and share their match highlights in a simple way. It is also working on how to accommodate data from wearables to track physical performance and potentially feed this into the Tonsser score.

Meanwhile, Tonsser says the new investment will be used to support growth and to maintain the startup as the leading community for youth players. Holm says that 86 percent of French youth teams from 15-19 are now using Tonsser,. The app will launch in England in Spring 2019 and is preparing a global roll out that will include the U.S. and beyond.

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Mar
27

478th Roundtable Recording on March 26, 2020: With Shruti Gandhi, Array Ventures - Sramana Mitra

YouGov, the international data and analytics group, has acquired ‘social analytics’ startup Portent.IO, a company that it had previously invested in. Terms of the deal remain undisclosed, although I understand the acquisition includes Portent.IO‘s technology, clients and its team, including its data scientists.

“We’re all staying on and the entire team including myself have 3-year lock-ins,” Portent.IO co-founder and CEO Hamish Brocklebank tells me. “We are also going to be rebranded as ‘YouGov Signal’ and the existing team will continue to run the business — I’ll be MD & founder of YouGov Signal, for example — but with the added operational, administrative and technical support of the broader YouGov family”.

As well as YouGov providing financially backing for Portent.IO, the two firms had also been working together, with Portent.IO utilising YouGov data within its solution, which mainly focussed on the film and television industry. This includes using YouGov’s panel to survey consumers and using YouGov Profiles data to help media teams plan their marketing campaigns by “mining” audiences around movies, programmes, and actors.

Portent.IO’s customer base includes Paramount, Sony, Lionsgate, the BBC, along with other major film studios and a number of TV networks.

“Without trying to be too buzzwordy, we’re a data science-focused social listening and digital media analytics platform,” says Brocklebank. “In short, we track social, news, product reviews and digital data around movies, TV shows, sports teams and now brands across the web and across 40 countries. This data includes text analysis data, view counts of videos, comments, likes, retweets and more”.

Meanwhile, the acquisition is said to enable YouGov to increase the scope of its offering and provide clients with better social monitoring and data science analytics tools. And although Portent.IO’s tech is currently focussed on the entertainment industry, YouGov plans to extend its application across other sectors.

“The platform plugs into YouGov’s wider product suite – complementing its current services, including data products, data services, and custom research – to provide a 360 degree view of marketing campaigns,” says the two companies in a statement.

“Our data science team and advance machine learning NLP tools will be assisting with YouGov’s ongoing data science efforts and a lot of our text classification tools can be applied to their broader market research efforts,” adds Brocklebank. “Our expertise in the film and TV space will [also] help YouGov expand further into that market”.

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Nov
07

1Mby1M Virtual Accelerator Investor Forum: With Biplab Adhya and Venu Pemmaraju of Wipro Ventures (Part 3) - Sramana Mitra

Federico Antoni Contributor
Federico Antoni is managing partner at ALLVP, an early-stage VC based in Mexico. He is a lecturer in management at the Stanford Graduate School of Business.

Every year I teach an MBA course at Stanford about the exciting opportunities for tech investors and entrepreneurs in developing economies. When we designed the syllabus back in 2013, Rocket Internet was still firing on all cylinders on four continents. The unapologetic machine built to copy big American internet companies created billions of dollars for the Samwer brothers and its backers. During Rocket’s golden years, the best startups in the developing economies seemed to inevitably have an original reference in Silicon Valley.

Accordingly, we added a class about the opportunity of replicating business models to seize this information arbitrage. Call it the second-mover advantage.

Despite my conviction about the model, the copycat word  —  short for replicating startups and attached to these ventures  —  annoyed me from the start. More than a term to describe a straightforward recipe to launch, I see it as an unconscious way to belittle an entire group of hard-charging founders and investors.

Indeed, while in foreign eyes, we have been building a Mexican Kickstarter, a Middle Eastern Uber, an Indian Amazon or a Colombian Postmates, I argue visionary founders are taking a simple idea that already exists and creating new worlds.

On the internet, there are Einsteins and there are Bob the Builders. I’m Bob the Builder. Oliver Samwer, founder of Rocket Internet

Gateway to entrepreneurship

While impact is the final goal, founders can approach the journey in different ways. The most common approach in the startup world is to use the business method, or more pompously, the design thinking methodology. “Fall in love with the problem, not the solution,” mentors keep telling a succession of startup clusters in acceleration programs. The best and “leanest” way to product market fit is by starting small then keep iterating the solution until you nail it.

A second way to start is favored by engineers and scientists: Take a new promising technology or a forgotten molecule, then find a big problem. Keep iterating until you find a problem worth solving, like a hammer looking for a nail.

A third way is starting like painters create, building skills by copying classics, or like a new chef cooks by starting with iconic recipes: replicate a proven idea and iterate until you find traction.

Until a few years ago it was ostensibly the only way to scale in developing economies. The model helped raise local capital from risk-averse investors who needed reassurance. The playbook to scale was unfolding a couple of years ahead and served as a guide to founders without previous startup experience and no local role models. The potential acquirer was identified and sometimes contacted in advance. Founders weren’t crazy and investors weren’t dumb.

Replicating a business model has served in emerging ecosystems as the gateway to entrepreneurship and venture investing.

Photo courtesy of Flickr/A_Marga

Riding the next wave

According to conventional wisdom, new ecosystems around the world grow through the following three stages, be them in developing economies or more developed countries. First, local and foreign entrepreneurs replicate successful models focused on local markets. Then as the ecosystem evolves, founders start applying existing technologies to solve local problems. Finally, as the tech space matures, new technologies begin to flourish.

In my opinion, those stages never happen sequentially as stated by ecosystem observers. Successful startups that started with a foreign inspiration can outgrow the master. If they are not bought into submission by the first mover, some of the most famous copycats reinvented the original and made it better: Mercado Libre is much more relevant in the e-commerce space than eBay . Flipkart is hardly an Amazon, not to mention WeChat. These companies are in turn some of the most prolific tech innovators on the globe. Truly ecosystems evolve organically in unique ways reflecting their history, geopolitical environment, economic structure and cultural features.

Two ways to defend the status quo: “It’s been done before” and “It’s never been done before.” –Thibault @Kpaxs

In defense of talent

Recently, it’s hard to hear American observers use the word copycat to describe any American company. After all, Guilt replicated VentesPrivees and Lime, Chinese dockless bike sharing and many more examples. All American startups are treated as innovators while the rest as mere followers.

Recently, Chinese or Indian startups seem to be given the benefit of the doubt regarding their originality. Is it because these regions have become more innovative? Maybe. But it’s also because these ecosystems have gained the respect of Silicon Valley. Indeed, Chinese consumer tech surpassed decisively the U.S. as the most important country in terms of investments.

So here’s my humble suggestion to our wealthier and more accomplished colleagues: stop using the c-word with founders. It’s offensive. Most probably, these founders are facing more challenges to build their companies and lower odds for success that the first mover. If anything, they have more merit than the originals.

As for founders, when they call you a me-too, remember all teams started somewhere, somehow. In fact, most started like Bob the Builder before turning into Einsteins. The truth is, it doesn’t matter where you start. You can start by applying a new technology or protocol. You can start with a problem you feel passionate about. You can start by replicating a business model. It doesn’t really matter if you take a big swing at the future and trust you will figure out how to make it happen. It doesn’t matter what label they use while you change the world for the better.

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Feb
06

Patreon Lens is Snapchat for creators’ paid fans only

Moonbug, a kid-focused media business founded by a pair of entertainment executives, has brought in a $145 million Series A investment led by The Raine Group, a merchant bank that supports technology, media and telecom efforts.

Venture capital firms Felix Capital and Fertitta Capital also participated in the financing.

Moonbug, headquartered in London, acquires and distributes media content made for kids. Recently, the company completed its first IP acquisition of Little Baby Bum, a children’s sing-along show popular on YouTube, Amazon and Netflix. According to a Los Angeles Times report, one of the show’s videos is the 20th most popular video in YouTube history, boasting 2.1 billion views. In total, Moonbug says Little Baby Bum has clocked in 23 billion views across multiple platforms.

With its Series A investment, Moonbug will amp up its M&A activity to expand its portfolio of content that “helps children build essential life skills.” Moonbug chief executive officer René Rechtman, who spent the last three years as the head of digital studios at The Walt Disney Co., says they plan to acquire eight media businesses.

Rechtman and John Robson, a former senior vice president of digital distribution at Paramount Pictures and vice president of global content at HTC, launched Moonbug earlier this year.

“I see an independent creator and I put them in very simple brackets: one is high viewership and engagement and one is quality of IP,” Rechtman told TechCrunch. “If they have both of those, I am very interested.”

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Mar
27

Not all entrepreneurs are 30-year-old guys

Lightspeed China Partners, the China-focused affiliate of Silicon Valley-based Lightspeed Venture Partners, has set a $360 million target for its fourth flagship venture fund, according to a document filed with the U.S. Securities and Exchange Commission today.

If the target is reached, the fund will be Lightspeed China’s largest yet, per PitchBook. Lightspeed China’s previous two funds each closed on $260 million. The VC raised $168 million for its debut fund in 2013.

Lightspeed China is led by David Mi (pictured). Mi, an investor in multiple billion-dollar Chinese companies, was previously the director of corporate development at Google, where he helped lead the search giant’s investment in Baidu. He joined Lightspeed in 2008 and established the firm’s China presence in 2011. Yan Han, a long-time Lightspeed investor and a founding partner of the firm’s Chinese branch, is also listed on the filing.

Lightspeed China has backed e-commerce platform Pingduoduo and loan provider Rong360, a pair of Chinese “unicorns” that both completed U.S. initial public offerings since 2017. Typically, the firm makes early-stage investments in the internet, mobile and enterprise spaces. 

Earlier this year, Lightspeed Venture Partners filed to raise a record $1.8 billion in new capital commitments. This month, it tacked five new partners onto its consumer and enterprise investment teams, including Slack’s former head of growth and Twitter’s former vice president of global business development.

Lightspeed didn’t immediately respond to a request for comment.

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Dec
17

N26 launches its premium offering in the UK

Fintech startup N26 recently launched in the U.K. with a single product offering. You could sign up to a free account that gives you free payments around the world, but no insurance and no free withdrawals in foreign currencies.

The company just added a second tier to its lineup in the U.K. And N26 is choosing to focus on N26 Metal in the U.K. You can now sign up to a Metal account for £14.90 per month (€16.59).

In other N26 markets, people can currently subscribe to N26 Black for €9.90 per month or N26 Metal for €16.90 per month. It’s interesting to see that N26 is using its fresh start in the U.K. to simplify its offering and target premium customers. The startup can still change its mind and launch N26 Black later down the road.

Basic customers can pay anywhere in the world without any foreign fee. The company uses Mastercard’s foreign exchange rates and doesn’t add anything on top. But ATM withdrawals in a foreign currency still cost 1.7 percent of the total amount.

Metal customers get the same perks in the U.K. and other European countries, such as foreign ATM withdrawals with no fee, a travel insurance package from Allianz and dedicated customer support.

N26 also provides partner offerings for N26 Metal subscribers. For instance, you can work from a WeWork office for free one day per month. Deals vary from one country to another; British customers get airport lounge access thanks to LoungeKey.

Your mileage may vary depending on your favorite airport, as LoungeKey doesn’t have a lounge in all terminals in all airports around the world. Now let’s see if N26 users outside of the U.K. will get a similar service in the future.

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Mar
27

Notarize to add 1,000 online notaries to address demand for remote transactions

RightHand Robotics announced a $23 million Series B this week. That brings the pick and place robotic arm manufacturer’s total funding up to around $34 million, including last year’s $8 million Series A.

The robotics startup has impressed investors with the dexterity and speed of its robotic picking system, having recruited some big VC names along the way. This latest round is led by Menlo Ventures, along with investments from GV (nee Google Ventures) joining the likes of existing investors Playground Global, Dream Incubator and Matrix partners.

Picking and placing has been a difficult robotics problem and one that’s only become more pronounced with the growth of fulfillment centers from the likes of Amazon. The online mega-retailer purchased logistics robotics company Kiva Systems for $775 million back in 2012, and has been rumored to be working on its own pick and place system.

As part of this round, former Kiva CEO Mick Mountz will be joining RightHand’s board of directors. “RightHand is picking up where we left off,” he said in a press release tied to the news. “Customers saw products coming directly to operators for picking and packing and would ask: ‘Why don’t you also automate this step with a robotic arm and gripper?’ But that was a difficult problem that we knew would require years of research and technical breakthroughs.”

RightHand will be using the funding to build out its technical and business teams.

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Dec
17

Thought Leaders in Artificial Intelligence: Matthew Sappern, CEO of PeriGen (Part 5) - Sramana Mitra

Matthew Sappern: There are a lot of people who feel that artificial intelligence and machine learning is much further along than it really is. There is so much data out there right now. I think...

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Original author: Sramana Mitra

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Dec
17

Ramping Up For A March 2019 Marathon

My running is going well so I’ve decided to do the Knoxville Marathon on 3/31/19.

I’m putting a running team together for this, so if you are interested in being part of it, the only requirement is that you commit to doing the Knoxville Marathon. If you are interested, This email address is being protected from spambots. You need JavaScript enabled to view it..

2018 was a tough running year for me. I was injured in the spring (calf injury) and then again in the summer through the fall (bone bruise). I’ve only managed 290 miles for the year (I’ll break 300, but that’s less than 30% of my norm for a year.)

However, the last four weeks of running have been solid:

miles / week: 11.5, 11.5, 12.4, 17.6TSS / week 147, 154, 203 478

Distance is improving and pace is improving.

I love running at the time of the year, especially when it’s 50 degrees and sunny in Boulder.

Also published on Medium.

Original author: Brad Feld

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Jul
04

Starling CEO Anne Boden is coming to Disrupt Berlin

B-Social, a London fintech that currently offers a “social finance” app and beta debit Mastercard, has raised £3.2 million in seed-round funding from undisclosed high-net-worth individuals. However, the fundraise is just the first step in a journey in which B-Social wants to eventually become a fully licensed bank that reimagines banking around everyday social interactions.

As it exists today, the B-Social app and accompanying card enables users to have control over everyday spending, track expenditures and create groups between friends to split bills and record settlements. It’s currently in the hands of a limited number of beta testers, spanning employees, investors, friends and family, with plans for a wider U.K. launch in February next year.

“We recognise that almost all financial transactions are inherently social,” B-Social co-founder and CEO Nazim Valimahomed tells me. “We want to change the relationship people have with money by helping them overcome the anxiety, awkwardness and wasted time when they engage with their social finances. We are doing that by building a digital bank that truly accommodates the way people live their lives and is dedicated to connecting a person’s finances to their social world.”

The idea was born in part out of Valimahomed’s own frustrations and is informed by his belief that individuals are often a bank themselves, lending and borrowing to friends and family by making shared purchases and then getting paid back.

“A simple example might be that you pay for flights for two or more people and then get paid back individually,” he says. “For multiple transactions, this becomes complex, often resulting in the trip organiser having to create a spreadsheet to work out what people owe across multiple transactions.”

To simplify this problem, B-Social wants to let you to make purchases with your card, which are flagged as an expense on behalf of a group of individuals. From here the bank to be will enable all members of a group — and where groups can be ad hoc and temporary or more long-term — to continuously see who is owed how much and to get paid back easily within the app and record settlements.

Dubbing this future proposition as the seeds of a “social bank,” the B-Social CEO cites competitors as traditional high-street banks that currently dominate the U.K. consumer market (the so-called big 5 have around 87 percent market share in the U.K.).

“We are aiming at winning a part of their market share by targeting customers looking for a bank as social as they are that offers a unique digital experience in order to help change the banking ecosystem forever,” Valimahomed tells me, although he also concedes that challengers such as Monzo, N26, Starling and Revolut have also built some basic social features into their apps.

“Our entire technology and product focus is to build a bank from scratch through a social lens,” he says.

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Dec
17

Careem launches delivery service as it nears closing a massive round

The ride-hailing giant Careem is now in the delivery business as the company seeks new verticals in its ever-increasing fight against other services in the Middle East, including Uber. Starting with food delivery in Dhabi and Jeddah, the company sees the delivery service, called Careem Now, expanding to pharmaceuticals. according to a report by Reuters. Careem is investing more than $150 million into the service.

“We believe the opportunity for deliveries in the region is even bigger than ride-hailing,” chief executive and co-founder Mudassir Sheikha told Reuters. “It is going to become a very significant part of Careem over time.”

Careem Now will operate independently from its ride-hailing business. It will have its own app and Careem is building the service as a dedicated call center.

This comes as the company is trying to close a $500 million funding round. Back in October, it announced it had already raised $200 million from existing investors. Prior to this announcement, rumors were swirling that several companies, including Didi Chuxing, could acquire Careem.

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Dec
17

Billion Dollar Unicorns: Ola at Crossroads - Sramana Mitra

The constant strikes at both Ola and Uber following a cut in driver incentives have taken a toll on their growth. Ola and Uber together grew just 20% to 3.5 million rides per day in 2018 across all...

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Original author: Sramana_Mitra

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Jul
04

Revolut's backer Draper Esprit has entered Germany by investing in local VC firm Earlybird

K Health, the startup providing consumers with an AI-powered primary care platform, has raised $25 million in Series B funding. The round was led by 14W, Comcast Ventures and Mangrove Capital Partners, with participation from Lerer HippeauBoxGroup and Max Ventures — all previous investors from the company’s seed or Series A rounds. Other previous investors include Primary Ventures and Bessemer Venture Partners.

Co-founded and led by former Vroom CEO and Wix co-CEO Allon Bloch, K Health (previously Kang Health) looks to equip consumers with a free and easy-to-use application that can provide accurate, personalized, data-driven information about their symptoms and health.

“When your child says their head hurts, you can play doctor for the first two questions or so — where does it hurt? How does it hurt?” Bloch explained in a conversation with TechCrunch. “Then it gets complex really quickly. Are they nauseous or vomiting? Did anything unusual happen? Did you come back from a trip somewhere? Doctors then use differential diagnosis to prove that it’s a tension headache versus other things by ruling out a whole list of chronic or unusual conditions based on their deep knowledge sets.”

K Health’s platform, which currently focuses on primary care, effectively looks to perform a simulation and data-driven version of the differential diagnosis process. On the company’s free mobile app, users spend three-to-four minutes answering an average of 21 questions about their background and the symptoms they’re experiencing.

Using a data set of two billion historical health events over the past 20 years — compiled from doctors’ notes, lab results, hospitalizations, drug statistics and outcome data — K Health is able to compare users to those with similar symptoms and medical histories before zeroing in on a diagnosis. 

With its expansive comparative approach, the platform hopes to offer vastly more thorough, precise and user-specific diagnostic information relative to existing consumer alternatives, like WebMD or, what Bloch calls “Dr. Google,” which often produce broad, downright frightening and inaccurate diagnoses. 

Ease and efficiency for both consumers and physicians

Users are able to see cases and diagnoses that had symptoms similar to their own, with K Health notifying users with serious conditions when to consider seeking immediate care. (K Health Press Image / K Health / https://www.khealth.ai)

In addition to pure peace of mind, the utility provided to consumers is clear. With more accurate at-home diagnostic information, users are able to make better preventative health decisions, avoid costly and unnecessary trips to in-person care centers or appointments with telehealth providers and engage in constructive conversations with physicians when they do opt for in-person consultations.

K Health isn’t looking to replace doctors, and, in fact, believes its platform can unlock tremendous value for physicians and the broader healthcare system by enabling better resource allocation. 

Without access to quality, personalized medical information at home, many defer to in-person doctor visits even when it may not be necessary. And with around one primary care physician per 1,000 people in the U.S., primary care practitioners are subsequently faced with an overwhelming number of patients and are unable to focus on more complex cases that may require more time and resources. The high volume of patients also forces physicians to allocate budgets for support staff to help interact with patients, collect initial background information and perform less-demanding tasks.

K Health believes that by providing an accurate alternative for those with lighter or more trivial symptoms, it can help lower unnecessary in-person visits, reduce costs for practices and allow physicians to focus on complicated, rare or resource-intensive cases, where their expertise can be most useful and where brute machine processing power is less valuable.

The startup is looking to enhance the platform’s symbiotic patient-doctor benefits further in early-2019, when it plans to launch in-app capabilities that allow users to share their AI-driven health conversations directly with physicians, hopefully reducing time spent on information gathering and enabling more-informed treatment.

With K Health’s AI and machine learning capabilities, the platform also gets smarter with every conversation as it captures more outcomes, hopefully enriching the system and becoming more valuable to all parties over time. Initial results seem promising, with K Health currently boasting around 500,000 users, most having joined since this past July.

Using access and affordability to improve global health outcomes

With the latest round, the company has raised a total of $37.5 million since its late-2016 founding. K Health plans to use the capital to ramp up marketing efforts, further refine its product and technology and perform additional research to identify methods for earlier detection and areas outside of primary care where the platform may be valuable.

Longer term, the platform has much broader aspirations of driving better health outcomes, normalizing better preventative health behavior and creating more efficient and affordable global healthcare systems.

The high costs of the American healthcare system and the impacts they have on health behavior has been well-documented. With heavy co-pays, premiums and treatment cost, many avoid primary care altogether or opt for more reactionary treatment, leading to worse health outcomes overall.

Issues seen in the American healthcare system are also observable in many emerging market countries with less medical infrastructure. According to the World Health Organization, the international standard for the number of citizens per primary care physician is one for every 1,500 to 2,000 people, with some countries facing much steeper gaps — such as China, where there is only one primary care doctor for every 6,666.

The startup hopes it can help limit the immense costs associated with emerging countries educating millions of doctors for eight-to-10 years and help provide more efficient and accessible healthcare systems much more quickly.

By reducing primary care costs for consumers and operating costs for medical practices, while creating a more convenient diagnostic experience, K Health believes it can improve access to information, ultimately driving earlier detection and better health outcomes for consumers everywhere.

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Dec
17

Thought Leaders in Online Education: Dror Ben Naim, CEO of Smart Sparrow (Part 1) - Sramana Mitra

This conversation delves into the personalized learning design system space. Sramana Mitra: Let’s start by having you introduce yourself and Smart Sparrow to our readership. Dror Ben Naim: I’m the...

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Original author: Sramana Mitra

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Jul
07

The most iconic TV show of every year since 2000

They say imitation is the highest form of flattery, but in the increasingly competitive world of banking, perhaps poaching your best people also counts. In a move that is bound to raise eyebrows in London’s fintech ecosystem and beyond, Megan Caywood, who up until this week was Starling Bank’s chief platform officer, is joining banking incumbent Barclays.

According to sources, Caywood, who led Starling’s marketplace banking efforts — a key pillar of the challenger bank — handed in her notice two weeks ago, whilst Starling Marketplace partners were informed last week. I understand she is currently on “gardening leave” and will officially become managing director, head of Barclays Consumer Strategy early next year.

With an academic background in cognitive science research, and a Silicon Valley import — having worked at Xero and Intuit in the U.S. — Caywood joined Starling in June 2016, where she soon became an important lieutenant to Starling CEO and founder Anne Boden, often appearing publicly as the second face of the challenger bank. I understand, however, that the pair remain good friends and that Starling threw a leaving party for Caywood last week.

Megan Caywood speaking at a Startup Grind event in London moderated by TechCrunch’s Steve O’Hear

Meanwhile, the move to Barclays is thought to be primarily motivated by the impact Caywood believes she can have at a large bank compared to an upstart, according to a source familiar with her thinking. Caywood has always talked passionately about making financial services work better for consumers and has long-argued that banks working with fintech startups is the best way to achieve this.

Related to this, Caywood’s new title at Barclays makes no reference to marketplaces, even though my fintech sources tell me Barclays is rumoured to be working on more third-party integrations. As a pointer, the incumbent bank has a number of existing partnerships, including with London startup Flux to offer itemised digital receipts and loyalty within the Barclays Launchpad app.

It is also noteworthy that Caywood’s title doesn’t include “UK,” and I understand that her remit is going to be international, perhaps expanding across the pond based on her Silicon Valley roots and the fact that she is American.

During her two and a half years at Starling, Caywood helped design and rapidly roll out the Starling Marketplace, which includes an open API and a marketplace of third-party financial services that sit inside of the Starling app. Marketplace partners include Flux, mortgage broker Habito, travel insurance provider Kasko, and investment products Wealthify and Wealthsimple, amongst others.

I’ve reached out to Caywood, who declined to comment, instead referring me to Barclays’ PR.

A Barclays spokesperson said:

“We can confirm that Megan Caywood is joining Barclays as our new Head of Consumer Strategy. Megan brings significant talent and expertise, and we look forward to welcoming her to the bank.”

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Dec
17

HQ Trivia replaced its regular show with a tribute to cofounder Colin Kroll, who died aged 34

Gameshow app HQ Trivia ditched its usual game on Sunday night and paid tribute to its cofounder Colin Kroll, who died at age 34 over the weekend.

The app did not air its regular show out of respect, and instead host Scott Rogowsky remembered Kroll with a small eulogy.

"Colin, or CK as we called him, was true visionary who changed the game twice. First with Vine, and then with this very app," Rogowsky said.

Rogowsky also announced that because Kroll was an animal lover — who would occasionally bring his dog Tater to the office — HQ donated what would have been Sunday night's $25,000 prize to The Humane Society in his memory.

Read more: Tech community reacts to death of HQ trivia and Vine founder Colin Kroll

Other HQ employees mourned his passing on social media, including hosts Sharon Carpenter and Lauren Gambino, as well as Kroll's HQ cofounder Rus Yusupov.

Original author: Isobel Asher Hamilton

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Dec
17

Barstool Sports is launching a 'premium service,' and Stoolies are already mocking it as 'officially dead'

Barstool Sports is joining the stampede of publishers trying to drum up more revenue from readers.

The 15-year-old company known for its bawdy take on sports and culture is launching a new premium service in January called Barstool Gold. The existing content will stay free, but for $50, people will get exclusive material like new podcasts and documentaries.

The service will kick off with a documentary about Barstool founder Dave Portnoy himself and how he started the company as a print newspaper in Boston, supported by gambling ads, before expanding to the web.

Barstool already has a diversified revenue model that many digital publishers likely envy. Majority owned by The Chernin Group, it has branched out to podcasts like "Fore Play" and "Chicks in the Office," video series, TV and radio shows like "Barstool Sports Advisors," and events. The company makes its money by selling advertising and directly from its rabid fan base of mainly young guys, who buy its branded hoodies and other merchandise and tune into pay-per-view events.

Read more: Brands are sticking with Barstool after sexual harassment claims

But Barstool's foray into a premium service isn't just motivated by the need to diversify its revenue further in a tough climate for digital advertising. Its no-holds-barred tone also has lately gotten it negative press including a scathing report by the Daily Beast that detailed incidents of harassment and cyberbullying by the company and called Portnoy a "misogynistic troll king."

Portnoy said Barstool didn't lose any existing advertisers as a result of the Daily Beast article, but that the controversies may make it harder to win new advertisers. He said controversy had also hurt the brand's TV ambitions. In 2017, ESPN canceled a Barstool Sports TV show after one episode when it became known that Barstool had published derogatory and critical reports on ESPN journalists. Portnoy said Barstool had three other shows lined up that backed out.

"We have a long history of our reputation speaking for itself," said Portnoy, who goes by the moniker El Presidente. "It's affected us in, will we end up with a TV show on a third-party network. Those guys will end up with cold feet. ESPN canceled; we had three other shows lined up."

Right now, advertising makes up around one fourth of Barstool's revenue and growing, Portnoy said. But, he said, he doesn't want to be in a position where he has to tone down Barstool to placate advertisers.

"The motto is, control our destiny, do new things, where we talk directly with our consumers and aren't dependent on ad revenue," he said. "Ad revenue is important, but we want to be self-sustaining. We just don't ever want to be in a situation where the next Daily Beast article comes out and advertisers are like, 'We can't do this, and we better apologize and change what we've done for 15 years.'"

Barstool enters the paid-content fray at a time when the market is getting crowded with lots of publishers trying to get consumers to pay for their content. But Barstool arguably has a better shot than most because it's built up such a devoted following.

Case in point: Barstool has gotten more than 400,000 downloads of a pizza review app, One Bite, that grew out of a video series of Portnoy reviewing local pizza joints. It had a Black Friday sale on its merchandise in 2017 that led to 35,000 orders totaling single-digit millions of dollars.

Still, if the 244 comments that followed Portnoy's announcement of Barstool Gold are any indication, the program might not exactly be a slam-dunk. Portnoy for his part dismissed those comments, saying they're just from trolls who don't represent how the site's true fans really think.

Barstool Sports

Original author: Lucia Moses

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Dec
17

Meeshkan raises €370K for its ‘ChatOps’ bot for training machine learning models

Meeshkan, a Finnish startup that made quite a splash at the recent Slush conference, has quietly raised €370,000 in pre-seed funding to continue developing its “ChatOps” product for machine learning developers.

Deployed on Slack, the bot allows developers to “rapidly stop, restart, fork, tweak, monitor, deploy and test machine learning models” without interrupting the collaborative workflows they are accustomed to or being forced to go back and forth between disparate developer tools.

Under the hood, Meeshkan says it uses patent-pending tech for speedy partitioning of data-flow across distributed infrastructure. Related to this, the burgeoning company is currently partnering with Northeastern University and CUDA to develop “zero-downtime” checkpointing of ML models in TensorFlow and PyTorch.

In an email exchange, Meeshkan founder Mike Solomon explained that training ML models is currently done through command line interfaces and web dashboards, which is not optimum for collaboration. This is because teams typically need to communicate about ML model training, make decisions about models, act on these decisions instantly and react to push notifications about a job’s status, none of which can conveniently happen through the command line or web dashboards.

“My generation writes less and less code, but we are iterating on it faster and faster with incremental changes,” he says. “In machine learning, this could be a small tweak in the learning rate of a model. In unit testing, this could be covering the corner case of an API that returns null values in certain circumstances. What unites these scenarios is that developers are dealing with externalities, like data or a third-party API, and trying to build fast on top of them. A world-class IDE, while it helps with lots of problems, does not provide much value for these small tweaks. We’ve found that what developers need is a frictionless environment to make the tweak/test/learn loop turn as fast as possible.”

To begin fixing this, Solomon tells me that Meeshkan set out to create a bot on Slack that helps teams monitor and tweak the training of their ML models in real time. “For ML engineers, we found that they spent hours on Slack discussing what to do with their models but had to resort to arcane and byzantine hacks to apply, document and archive these changes,” he says.

“We made a simple bot where teams can turn their discussions on Slack about things like changing a learning rate or a batch size into action, right from Slack. From this simple idea, the floodgates opened. Developers really quickly let us know what they wanted to control from Slack, some of which is trivial to implement, some of which is profoundly difficult and leads us to uncharted engineering territory.”

Meeshkan has several patent-pending algorithms from the resulting work. Solomon also explained that the same underlying problem exists in continuous integration and “data wrangling” as well, and that the team is developing a suite of products that address this concern.

This includes a second product called unmock.io, which brings the same idea to testing and continuous integration and has seen traction at AWS re:Invent. “We look to be releasing more tools along this line during Q1 of 2018,” he adds.

Meanwhile, Meeshkan’s pre-seed backers include Risto Siilasmaa and Kim Groop (First Fellow Partners), Finnish angel Ali Omar, Christian Jantzen’s Futuristic.vc and Neil Murray’s The Nordic Web Ventures.

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Feb
07

Captain401, now Human Interest, raises $11M to build a 401(k) for small businesses

Vine and HQ Trivia cofounder Colin Kroll has died. Bryan Steffy/Getty Images for Variety

Good morning! This is the tech news you need to know this Monday.

The cofounder of HQ Trivia and Vine Colin Kroll has died at the age of 34. Kroll was found dead in his Manhattan apartment on Saturday night. A report prepared for the Senate on Russian disinformation was leaked to the Washington Post. The Post obtained a draft of the report, which found that a Russian interference campaign, "sought to benefit the Republican Party — and specifically Donald Trump." The private Facebook photos of millions of users were accidentally shared with 1,500 apps. Facebook said on Friday it had found a bug that gave as many as 1,500 third-party apps access to the unposted Facebook photos of up to 6.8 million users. Livestreaming giant Twitch opened a new San Francisco headquarters. The nine-floor office is a gamer's paradise, with two six-person competitive gaming rooms, two live-streaming rooms, and a full arcade. Uber has been quietly settling big legal fights in the run-up to its IPO, Bloomberg reports. Uber's lawyers have been settling high-profile disputes as the company races rival Lyft to an IPO. Amazon reportedly wants to curb selling "CRaP" items it can't profit on, like bottled water and snacks. Amazon is rethinking its strategy around items it sells that it refers to internally as "CRaP", which stands for "Can't realize a profit," according to a report by the Wall Street Journal. Apple will release a software update for Chinese iPhones next week to comply with the Qualcomm ruling, Bloomberg reports. Apple said the update will affect features covered by patents, such as adjusting photographs. A woman is suing Apple because she didn't think the iPhone had a notch. Apple's iPhone XS and iPhone XS Max have a "notch" on the top of the device to make room for the front-facing camera. Google just announced it's shutting down its Allo messaging app for good. The smart chat app never gained the traction Google was hoping for, and it will be sunset in March 2019. Salesforce is hiring its first chief ethical and humane use officer to make sure its artificial intelligence isn't used for evil. Salesforce will hire Paula Goldman to the role and she will report to chief equality officer Tony Prophet.

Have an Amazon Alexa device? Now you can hear 10 Things in Tech each morning. Just search for "Business Insider" in your Alexa's flash briefing settings.

Original author: Isobel Asher Hamilton

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Dec
17

Catching Up On Readings: Holiday Gift Guide - Sramana Mitra

This feature from The New York Times provides a curated guide for gifts for this year’s holiday season. For this week’s posts, click on the paragraph links. Tech Posts Indian Music App...

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Original author: jyotsna popuri

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