Jan
20

1Mby1M Virtual Accelerator Investor Forum: With Anand Rajaraman of rocketship.vc (Part 1) - Sramana Mitra

Everyone loves a tale of a bootstrapped startup founder’s journey to an eight-figure exit.

The team at Toronto-based Cluep have a good one.

The founders of the adtech startup raised less than $500,000 from angel investors before selling their company to Impact Group for $40 million ($53 million CAD) this week.

Founded in 2012, Karan Walia, Sobi Walia and Anton Mamonov were just 21, 17 and 16 years old, respectively, when they started the digital advertising platform, which uses artificial intelligence to help brands connect and engage with people based on what they are sharing, how they are feeling and the places they’ve been.

They, being so young, struggled initially to get the company off the ground. At one point, the trio hacked into computers at a university in Toronto to train the neural networks on large amounts of data sets because they didn’t have enough money to buy their own tech. On a shoe-string budget, they would split meals at Popeyes to get by.

“No one wanted to give us money at that time so we had to live off of my student loans,” Walia told TechCrunch. “We did pretty much everything, whether it was programming and building the product, or going out and selling. I was our first sales rep and I was pretty bad early on but I learned.”

Ultimately, Cluep was able to raise enough from angels to pay themselves a salary, hire a few engineers and sales representatives and move into an actual office. From that point, their revenue began growing significantly YoY.

2015: $2 million CAD in revenue2016: $6 million CAD in revenue2017: $14.5 million CAD in revenue2018: On track to bring in ~$30 million CAD

They fielded offers from VCs toward the end of 2015 and considered raising a proper Series A round of capital, but ultimately decided staying independent would lead to the best exit.

“This way allowed us to basically maintain control and exit on our terms,” Walia said.

Impact Group, a Boise, Idaho-based grocery sales and marketing agency, will operate Cluep independently.

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Jan
26

Shadow launches its cloud computer for gamers in the UK

Sramana Mitra: You have already cited some of your highlights. Can you talk about other companies that were really interesting companies out of your portfolio that are really emblematic of how...

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Original author: Sramana Mitra

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Sep
20

Meet the startups in the latest Alchemist class

Alchemist is the Valley’s premiere enterprise accelerator and every season they feature a group of promising startups. They are also trying something new this year: they’re putting a reserve button next to each company, allowing angels to express their interest in investing immediately. It’s a clever addition to the demo day model.

You can watch the live stream at 3pm PST here.

Videoflow – Videoflow allows broadcasters to personalize live TV. The founding team is a duo of brothers — one from the creative side of TV as a designer, the other a computer scientist. Their SaaS product delivers personalized and targeted content on top of live video streams to viewers. Completely bootstrapped to date, they’ve landed NBC, ABC, and CBS Sports as paying customers and appear to be growing fast, having booked over $300k in revenue this year.

Redbird Health Tech – Redbird is a lab-in-a-box for convenient health monitoring in emerging market pharmacies, starting with Africa. Africa has the fastest growing middle class in the world — but also the fastest growing rate of diabetes (double North America’s). Redbird supplies local pharmacies with software and rapid tests to transform them into health monitoring points – for anything from blood sugar to malaria to cholesterol. The founding team includes a Princeton Chemical Engineer, 2 Peace Corps alums, and a Pharmacist from Ghana’s top engineering school. They have 20 customers, and are growing 36% week over week.

Shuttle – Shuttle is getting a head start on the future of space travel by building a commercial spaceflight booking platform. Space tourism may be coming sooner than you think. Shuttle wants to democratize access to the heavens above. Founded by a Stanford Computer Science alum active in Stanford’s Student Space Society, Shuttle has partnerships with the leading spaceflight operators, including Virgin Galactic, Space Adventures, and Zero-G. Tickets to space today will set you back a cool $250K, but Shuttle believes that prices will drop exponentially as reusable rockets and landing pads become pervasive. They have $1.6m in reservations and growing.

Birdnest – Threading the needle between communal and private, Birdnest is the Goldilocks of office space for startups. Communal coworking spaces are accessible but have too many distractions. Traditional office spaces are private but inflexible on their terms. Birdnest brings the best of each without the drawbacks: finding, leasing, and operating a network of underutilized spaces inside of private offices. The cofounders, a duo of Duke and Kellogg MBA grads, are at $300K ARR with a fast-growing 50+ client waitlist.

Tag.bio – Tag.bio wants to make data science actionable in healthtech. The founding team is comprised of a former Ayasdi bioinformatician and a former Honda Racing engineer with a Stanford MBA. They’ve developed a next-generation data science platform that makes it easy and fast to build data apps for end users, or as they say, “WordPress for data science.” The result they claim is lightning-fast analysis apps that can be run by end users, dramatically accelerating insight discovery. They count the UCSF Medical Center and a “large Swiss pharma company” as early customers.

nCorium – They’ve built a new server architecture to handle the onslaught of AI to come with what they claim is the world’s first AI accelerator on memory to deliver 30x greater performance than the status quo. The quad founding team is intimidatingly technical — including a UCSD Professor, and former engineers from Qualcomm and Intel with 40 patents among them. They have $300K in pilots.

Spiio – Software eats landscaping with Spiio, which combines cloud-driven AI with physical sensors to monitor watering and landscaping for big companies. Their smart system knows when to water and when not to. This reduces water consumption by 50%, which means their system pays for itself in less than 30 days for big companies. They want to connect every plant to the internet, and look like they are off to a good start — $100K in orders from brand name Valley tech firms, and they are doubling monthly.

Element42 – Fraud is a major problem — For example, if you buy a Rolex on eBay, you run the risk of winding up with a counterfeit. Started by ex-VPs from Citibank, the founders are using risk models and technologies that banks use to help brands combat fraud and counterfeiting. Designed with token economics, they also incentivize customers to buy genuine products by serving exclusive content and promotions only to genuine product holders. Built on blockchain at the core, they claim to be the world’s first peer-to-peer authentication platform for physical assets. They have 45 customers across two industry verticals, 800K in ARR and are a member of World Economic Forum’s global initiatives against corruption.

My90 – Distrust between the public and the police has rarely been more strained than it is today. My90 wants to solve that by collecting data about interactions between the police and the public—think traffic stops, service calls, etc.—and turn these into actionable intelligence via an online analytics dashboard. Users text My90 anonymously about their interactions, and My90’s dashboard analyzes the results using natural language processing. Customers include major city police departments like the San Jose Police Department and the world’s largest community policing program. They have booked $150K in pilots and are expanding aggressively across the US.

Nunetz – A Stanford Computer Science grad and UCSF Neurosurgeon have come together to try to build a single unifying interface to replace the deluge of monitors and data sources in today’s clinical health environment. The goal is to prepare a daily “battle map” for physicians, nurses, and other providers, with an initial focus on the Intensive Care Unit (ICU). They have closed 3 paid pilots with hospitals through grants.

When Labs – If you hate managing people, When Labs wants to unburden you. Using an AI-powered assistant that texts with employees to negotiate assignments for hourly work, WhenLabs is trying to free customers like Hilton from spending money on managers who would normally do this manually. As the system gets smarter, they claim employees will prefer interfacing with their AI bot more than a human. AI and HR is a crowded space, but this might be the team to separate from the pack: the founding team’s previous company had a 9 figure exit to IBM.

FirstCut – FirstCut helps businesses put video content out at scale. Video dominates social media — it creates 10x more comments than text — and is emerging as a necessity for B2B media. But putting video out if you are a B2B marketer normally requires using agencies that charge hefty fees. FirstCut wants to disrupt the agencies with software and marketplaces. They use software automation and an on-demand talent marketplace to offer a fixed price product for video content. They are at $180k revenue, and most of it is moving to recurring subscriptions.

LynxCare – LynxCare claims that 90% of healthcare data goes untapped when doctors make critical decisions about your life. Further, they claim the average person’s life could be extended by 4 years if that data can be converted into insights. Their team of clinicians and data scientists aims to do just that — building a data platform that aggregates disparate data sets and drive insight for better clinical outcomes. And it looks like their platform has fans: they are active in 9 hospitals, count Pharma companies like Pfizer as Partners, and grew 4x over the past year and now are at $800K ARR.

ADIAN – Adian is a B2B SaaS product that digitizes the complex agrochemical supply chain in order to improve the sales process between manufacturers and distributors. The company claims manufacturers reduce costs by 20% and increase sales by 4% by using their online framework. $1.5 Billion and 70,000 orders have gone through the platform to date.

Hardin Scientific – Hardin is building IoT-enabled, Smart Lab Equipment. The hardware becomes a gateway to become the hub for monitoring, controlling, and sharing scientific data across teams. They’ve closed over $1.5m in revenue, and raised $15m in equity and debt financing. One of their smart devices is being used to 3D print bio-tissues and human organs in space.

ZaiNar – This team of 5 Stanford grads — 3 PhD’s and 2 MBAs — joined up with the Co-Founder of BlueKai to build the world’s best time synchronization technology. ZaiNar claims their ability to wirelessly synchronize and distribute time between networked devices is a thousand times better than existing technologies. This enables them to locate RF-emitting devices (i.e. phones, cars, drones, & RFID) at long distances with sub-meter accuracy. Beyond location, this technology has applications across data transmission, 5G communications, and energy grids. ZaiNar has raised a $1.7 million seed from AME Cloud and Softbank, and has built an extensive patent portfolio.

SMART Brain Aging – This startup claims to reduce the onset of dementia by 2.25 years with software. They are the only company approved by Medicare to get reimbursed on a preventative basis for the treatment of dementia. In conjunction with Harvard University, they have developed 20,000 exercises that are clinically proven to reduce the onset of dementia and, they claim, help build neurotransmitters. The company works with 300 patients per week ($2.2 million annual revenue) and is building to a goal of helping 22,000 people in 24 months.

Phoneic – Phoneic believes the data trapped in voice calls from cellphones is a gold mine waiting to be unleashed. Their app records and transcribes cell phones conversations, and the company has built an integration layer to enterprise AI and CRM systems that traditionally didn’t have access to voice data. The team is led by the co-founder of 3jam, one of the first group SMS and virtual number companies, which was acquired by Skype in 2011. He is keenly aware of the power of virality — and like Skype, the use of Phoneic spreads its adoption. The company has already raised $800,000 in seed funding.

Arkose Labs – Whether or not you think Russia interfered with the 2016 election, it’s no secret that bots are having significant impact on society. Arkose Labs wants to fight fraud, without adding friction to legit users. Most fraud prevention platforms today focus on gathering info from the user and providing a probability score that the traffic is good or bad. This leaves companies with a difficult decision where they may be blocking revenue generating users. Arkose has a different approach, and uses a bilateral approach that doesn’t force this tradeoff. They claim to be the only solution to offer a 100% SLA on fraud prevention. Big companies like Singapore Airlines and Electronic Arts are customers. USVP led a $6 million investment into the company.

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Jan
11

Glassdoor’s best cybersecurity companies for job hunters in 2023

In case you missed it, you can listen to the recording here:

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Original author: Maureen Kelly

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Jan
10

How AI-powered conversational commerce will transform shopping in 2023

Sramana Mitra: In terms of segment besides real estate tech, what else do you particularly like to invest in? Is healthcare It one of your sectors? Patricia Nakache: Broadly, I spend a lot of my time...

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Original author: Sramana Mitra

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May
21

1Mby1M Virtual Accelerator Investor Forum: With Brian Jacobs of Emergence Capital (Part 1) - Sramana Mitra

Bird just announced 10 million scooter rides since launching about one year ago. If this story sounds familiar to you, it’s probably because Bird competitor Lime earlier today announced it surpassed 11.5 million rides across its shared bikes and scooters.

Bird, which launched last September in Santa Monica, Calif., currently operates in 100 cities and has over two million unique riders, Bird founder and CEO Travis VanderZanden told TechCrunch. But Bird’s first year of operations has been full of ups and downs.

Many of the downs have been around regulatory issues. Bird faced, and overcame them, in Santa Monica but failed in San Francisco.

“I think anytime you’re doing something new that the cities haven’t contemplated before, there always seems to be gray area on where you fit in in the regulatory environment,” VanderZanden said. “Cities hadn’t thought about electric scooters and electric scooter sharing. We collaborated very closely with the cities we’re in now.”

Although San Francisco did not grant an operating permit to Bird — the city gave them to Scoot and Skip — VanderZanden stressed that “San Francisco is one city. We’re in 100 cities.”

He also said Bird is not looking to appeal the decision in San Francisco. Lime, however, is in engaging in the appeals process.

As Bird enters its second year of operations, the name of the game is to double down on its efforts with cities and building out its government tech platform. Bird is also looking into manufacturing its own scooters to provide more durability to its customers and differentiate itself from other scooters on the market.

“We’ve been investing heavily in that area,” VanderZanden said. “You’ll start to see new vehicles coming from us soon.”

He added, “we want to keep building vehicles that are more ruggedized but also vehicles that have new features for the riders as well.”

And Bird definitely has the funds to do that. To date, Bird has raised $415 million in funding for shared electric scooters.

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Jan
11

India’s Giga Fun Studios raises $2.4M for casual games

Smart speaker player Sonos went public this year. But in the few months that the stock has listed, it has had a rocky start. The company recently announced its first results since the IPO. The...

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Original author: MitraSramana

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Sep
20

MariaDB acquires Clustrix

MariaDB, the company behind the eponymous MySQL drop-in replacement database, today announced that it has acquired Clustrix, which itself is a MySQL drop-in replacement database, but with a focus on scalability. MariaDB will integrate Clustrix’s technology into its own database, which will allow it to offer its users a more scalable database service in the long run.

That by itself would be an interesting development for the popular open source database company. But there’s another angle to this story, too. In addition to the acquisition, MariaDB also today announced that cloud computing company ServiceNow is investing in MariaDB, an investment that helped it get to today’s acquisition. ServiceNow doesn’t typically make investments, though it has made a few acquisitions. It is a very large MariaDB user, though, and it’s exactly the kind of customer that will benefit from the Clustrix acquisition.

MariaDB CEO Michael Howard tells me that ServiceNow current supports about 80,000 instances of MariaDB. With this investment (which is actually an add-on to MariaDB’s 2017 Series C round), ServiceNow’s SVP of Development and Operations Pat Casey will join MariaDB’s board.

Why would MariaDB acquire a company like Clustrix, though? When I asked Howard about the motivation, he noted that he’s now seeing more companies like ServiceNow that are looking at a more scalable way to run MariaDB. Howard noted that it would take years to build a new database engine from the ground up.

“You can hire a lot of smart people individually, but not necessarily have that experience built into their profile,” he said. “So that was important and then to have a jumpstart in relation to this market opportunity — this mandate from our market. It typically takes about nine years, to get a brand new, thorough database technology off the ground. It’s not like a SaaS application where you can get a front-end going in about a year or so.

Howard also stressed that the fact that the teams at Clustrix and MariaDB share the same vocabulary, given that they both work on similar problems and aim to be compatible with MySQL, made this a good fit.

While integrating the Clustrix database technology into MariaDB won’t be trivial, Howard stressed that the database was always built to accommodate external database storage engines. MariaDB will have to make some changes to its APIs to be ready for the clustering features of Clustrix. “It’s not going to be a 1-2-3 effort,” he said. “It’s going to be a heavy-duty effort for us to do this right. But everyone on the team wants to do it because it’s good for the company and our customers.

MariaDB did not disclose the price of the acquisition. Since it was founded in 2006, though, the Y Combinator-incubated Clustrix had raised just under $72 million, though. MariaDB has raised just under $100 million so far, so it’s probably a fair guess that Clustrix didn’t necessarily sell for a large multiple of that.

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Jan
08

One year later: Apple’s rules on data privacy force a rethink on customer engagement

Responding to a popular request, we are now sharing transcripts of our investor podcast interviews in this new series. The following interview with Nilanjana Bhowmik was recorded in March 2018....

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Original author: Sramana Mitra

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Jan
23

France Digitale wants to teach French parliament members about tech

Omobola Johnson (Image: Flickr/World Economic Forum under a CC BY-NC-SA 2.0

TechCrunch Startup Battlefield is returning to Africa in December, this time in Lagos, Nigeria. We will have a day-long program full of our flagship Battlefield competition highlighting the best startups that Africa has to offer.

Not only that, we’ll have panel discussions designed to explore the continent’s rapidly developing technological infrastructure on the continent. To wit, I’m excited to announce the first two speakers who will don our stage with direct knowledge about investing Silicon Valley money in the local ecosystem.

Omobola Johnson is a senior partner at TLcom Capital and the former minister of communication technology for Nigeria. Her vast knowledge about the startup investing landscape comes from her 25-year tenure at Accenture where she served as the managing director.

As ICT minister, she focused on the execution of the National Broadband Plan, as well as promoting government interest in local venture capital through the development of a fund and a network of startup incubators. And at Accenture, she advised numerous startups in various industries on how to become competitive and help to strengthen the tech landscape.

Lexi Novitske

Lexi Novitske is the principal investment officer for Singularity Investments where she is responsible for managing investments in the firm’s Africa portfolio.

Novitske moved to Africa from the United States, having identified a unique approach to providing African startups with the capital necessary to thrive. Big surprise: It’s not just about writing a check and hoping for returns. It’s about understanding the complexities of the environment, modifying Western attitudes about business and working hard with your companies to ensure the best outcomes.

Johnson and Novitske are just the beginning of what we have to offer at Battlefield Africa technology. Stay tuned for more announcements of great speakers and get your tickets before they sell out.

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Sep
20

Lime hits 11.5 million bike and scooter rides

Bike and scooter company Lime recently hit 11.5 million rides, a couple of months after it surpassed six million rides. This milestone comes just 14 months after Lime deployed its first bikes.

Today, Lime is in more than 100 markets throughout the U.S. and Europe. Last December, Lime brought its bikes to a number of European cities and in June, Lime brought its scooters to Paris. By the end of this year, Lime plans to launch in an additional 50 cities.

The rise of shared personal electric vehicles has also led to a new type of side hustle for some people. Through Lime’s Juicer program, which enables anyone to make money from charging scooters overnight, the company has paid out millions of dollars to those workers.

Lime has raised $467 million in funding, with its most recent round coming in at $335 million. The round, led by GV, included participation from Uber.

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Jan
22

Catching Up On Readings: Top 10 Strategic Tech Trends 2018 - Sramana Mitra

Curve, the London fintech that lets you consolidate all of your bank cards into a single Curve card and app to make it easier to manage your spending, has always faced a slight awareness problem. Even though nobody else does what Curve does — the product is innovative on a multiple fronts, such as its “financial time travel” feature — it is also the kind of proposition that not everybody gets until they’ve signed up and started using it. Once they do, however, they tend to stick around. I’m told retention rates are way above industry average at 70 percent.

Three years since launch and much further along in the roadmap, the sum of its parts is beginning to make Curve a much easier sell. Not least because any company that wants to create “one card to rule them all” needs to have multiple bases covered if it is going to convince you to leave your other debit and credit cards at home. One of those, of course, is low FX fees when spending abroad. Or, better still, zero fees.

Enter the latest update from Curve, which introduces the “real exchange rate, with no hidden fees”. Up until now, Curve offered a better exchange rate and fee structure than most high street banks (around 1-2 percent on top of MasterCard’s competitive exchange rate), but it wasn’t up there with the very best on the market, such as the likes of Revolut, Starling, TransferWise, Monzo or Tandem, depending on use case and your penchant for convenience over price.

To that end, the fintech startup has spent the last six months re-engineering the platform’s money exchange piping to be able to compete much harder in currency conversion and at the point of purchase.

“Our zero FX proposition is built on the foundations of the innovative technology at the heart of Curve, enabling us to perform FX swaps on top of any card that you have loaded into your Curve wallet without the user needing to do anything special and with the transaction showing in the underlying cards native currency,” Curve CTO Matt Collinge tells me. “We are essentially adding a wrapper of convenient ‘fintechness’ to existing bank and credit cards”.

The new “zero fee” pricing is fairly straight-forward but there are some caps and different limitations depending on if you have the blue free Curve card or the black paid-for one. The pricing changes slightly from November, too.

The company broke down the terms as follows:

Blue Curve card users:

– Spend Abroad: 0% fee and access to the Real Exchange Rate on spend in over 150+ supported foreign currencies worldwide. Initial cap of up to £500 per rolling month, and 1% fee thereafter (in November this will become 2% thereafter).
– ATM Extractions Abroad: £200 at 0% fee, 2% or £2 per transaction thereafter (whichever is greater).
– Weekend Spend Abroad: as the currency market is closed, we need to charge a 0.5% markup on Euros and US Dollars and 1% markup for all other supported currencies (in November this becomes 0.5% fee for Euros and US dollars, 1.5% fee for all other currencies).

Black Curve card users:

– Spend Abroad: 0% fee and access to the Real Exchange Rate on spend in over 150+ supported foreign currencies worldwide, for an unlimited amount per rolling year – subject to a generous Fair Use Policy of £15,000 and 1% fee thereafter (in November this will become 2% thereafter).
– ATM Extractions Abroad: £400 ATM at 0 fee, 2% or £2 per transaction thereafter (whichever is greater).
– Weekend Spend Abroad: as the currency market is closed, we need to charge a 0.5% markup on Euros and US Dollars and 1% markup for all other supported currencies (in November this becomes 0.5% fee for Euros and US dollars, 1.5% fee for all other currencies).

In a call, Curve founder and CEO Shachar Bialick explained that the £500 per month zero fee cap for blue Curve card users is informed by research the startup did that showed that over 80 percent of traveling customers spend less than £500 abroad per month. The extra fees also kick in after to ensure Curve doesn’t lose money — there is in-built currency risk when attempting to give customers the real exchange rate in real-time — and is able to build a sustainable business in the long run. Likewise, the weekend bump is pretty standard and is a strategy also employed by Revolut, for example. With that said, for more frequent travellers, Bialick’s advice was that they should apply for the paid-for black Curve card, which also brings increased cash-back.

Aside from “zero fees,” there are other advantages to using Curve when spending abroad or in a foreign currency, according to the Curve founder. Since the Curve card acts as a conduit to your other bank cards (similar to the way mobile wallets like Apple Pay work), you are effectively turning all of your debit and credit cards into zero fee currency exchange. And you don’t need to top up or decide in advance how much foreign currency to convert or worry about transferring it back if you under spend on your trip. In addition, Curve supports 150 global currencies (as a comparison, Revolut supports 24 currencies).

But more than anything, Bialick hopes the headline of “zero fees” will shut down one potential reason not to go ‘full Curve’ for all of your everyday spending. His feeling is that once prospective users realise it competes very aggressively on FX, which is how a lot of challenger banks have attracted customers, they’ll want to give Curve a try and ditch their other cards in the process. Only then will they appreciate Curve’s fintech convergence proposition.

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Feb
15

Scaling to a $700M Exit: Zain Jaffer, CEO of Vungle (Part 4) - Sramana Mitra

I enjoyed Bradley Tusk’s new book, The Fixer: My Adventures Saving Startups from Death by Politics. It’s another memoir, a category which seems to be ending up on the top of my reading list a lot these days. It also was in the pile of books I get sent regularly by publishers hoping I’ll read and review them (as in “Dear Brad Feld, here is a form letter about my book, I hope you like it.”)

While I don’t know Bradley Tusk, I know of him, have heard him speak once, and like his first name. When I started reading The Fixer, I had no idea whether I’d end up engrossed, or end up turning the pages every 15 seconds as I skimmed through it looking for the good bits.

I was engrossed, at least for the first half. I started it on Monday night after dinner and got halfway through before I noticed my eyes closing as sleep beckoned. It was about 9:15 pm, which is a typical call it quits time for me on a weekday, especially since I’m still sleeping 10 or so hours a night as I recover from my two weeks of misery.

Last night Amy and I watched Sicario: Day of the Soldado. It was exactly what we were looking for, so I took a night off from reading.

Tonight, I got home at about 7 pm, ate dinner, and finished up The Fixer. The second half had a bunch of startup stories, which were shorter, but also less interesting to me in the context of a memoir. It also shifted from “here’s my story” to “here’s what my business is doing to help startups” which, while better than most memoirs that try to walk the line of self-promotion, still was less stimulating (at least to me) than the first half. Well, except for the chapter about Bloomberg almost running for president, which I loved.

Overall, it’s a winner of a book. And, if you are an entrepreneur who is doing anything that touches on any heavily regulated industry (which is a lot of you), I’d put it in the must-read category to get more context and ideas about what you are up against and how to think about it.

Also published on Medium.

Previous Post
Original author: Brad Feld

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Jan
24

Mo’Nique calls for a boycott of Netflix

Lime is waging a war against the San Francisco Municipal Transporation Agency (SFMTA), claiming the organization acted with “unlawful bias” and “sought to punish Lime” when it chose not to award the e-scooter and dockless bike startup a permit to operate in San Francisco last month.

Lime has sent an appeal to the SFMTA, requesting an “unbiased hearing officer” reevaluate its application to participate in the city’s 12-month pilot program for e-scooter providers. The SFMTA, however, says they are “confident” they picked the right companies in Scoot and Skip.

“After a thorough, fair and transparent review process, we are confident we selected the strongest applicants to participate in the one-year scooter pilot,” a spokesperson for SFMTA said in a statement provided to TechCrunch. “Scoot and Skip demonstrated the highest level of commitment to our city’s values of prioritizing public safety, promoting equity and ensuring accountability. Lime’s appeal will go to an independent hearing officer for further consideration.”

San Francisco’s permit process came as a result of Lime and its competitors, Bird and Spin, deploying their scooters without permission in the city this March. As part of a new city law, which went into effect in June, scooter startups are not able to operate in San Francisco without a permit.

Lyft, Skip, Spin, Lime, Scoot, ofo, Razor, CycleHop, USSCooter and Ridecell all applied for permits.

Now, Lime is arguing the selection process was unfair and that because it deployed scooters in the city without asking permission — the Uber model of expansion — the SFMTA intentionally rejected its application despite its qualifications.

“The SFMTA ignored the fact that Scoot’s price is twice that of other applicants, including Lime, and that Scoot declined to offer any discounted cash payment option to low-income users, as required by law,” Lime wrote in a statement today. “SFMTA inexplicably avoided inclusion of these factors as evaluation criteria and instead deemed Scoot ‘satisfactory’ because they ‘agreed to comply.'”

When Lime learned of its rejection on Aug. 30, CEO Toby Sun said he was disappointed and planned to appeal the decision.

“San Franciscans deserve an equitable and transparent process when it comes to transportation and mobility. Instead, the SFMTA has selected inexperienced scooter operators that plan to learn on the job, at the expense of the public good … The SFMTA’s handling of the dockless bike and scooter share programs has lacked transparency from the beginning. We call on the Mayor’s Office and Board of Supervisors to hold the SFMTA accountable for a flawed permitting process. As a San Francisco-based company, this is where we live and work. We want to serve this community.”

Though Lime wasn’t able to successfully sway San Francisco authorities, it was given permission to operate in Santa Monica last month alongside Bird, Lyft and JUMP Bikes.

E-scooters are expected to return to the streets of San Francisco on Oct. 15.

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Sep
19

Roundtable Recap: September 19 – Startup Opportunities in Blockchain - Sramana Mitra

During this week’s roundtable, we had as our guest Brock Pierce, CoFounder at Blockchain Capital, who discussed his worldview of the Blockchain investment opportunity. Brock is one of the pioneers of...

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Original author: Sramana Mitra

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  40 Hits
Sep
19

1Mby1M Virtual Accelerator Investor Forum: With Tim Guleri of Sierra Ventures (Part 3) - Sramana Mitra

Sramana Mitra: In a lot of cases, businesses that are selling into the enterprise have the structure of a big deal. When you have larger ASPs, often, it is easier to build companies for less money...

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Original author: Sramana Mitra

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Sep
19

Wove raises $9M to help companies form strategic marketing partnerships

After rebranding earlier this year and scrapping pretty much their whole mobile ads business, Wove, formerly known as TapFwd, has a fresh plan to disrupt the marketing industry.

Co-founders Eddie Siegel and Alex Wasserman have built what they call a brand collaboration network, a new way for companies to form marketing partnerships with similar brands. They say sourcing and closing a deal with another company on Wove is as easy as sending a Facebook friend request.

“Marketers don’t want to sell data with each other and they don’t want to share data with each other,” Siegel told TechCrunch. “They want to grow their core business and leverage their data assets without having to share it with another company, and they need a third-party network to form these partnerships.”

With the launch of their latest product comes new money: Wove has raised $9 million in a round led by August Capital, with participation from new investors Origin Ventures, Walmart’s SVP of U.S. e-commerce Anthony Soohoo, Canaan Partners general partner Deepak Kamra and existing investors Partech Partners, AngelPad and Tekton Ventures. Partech previously led TapFwd’s $3 million seed round.

To develop a marketing partnership with Wove, a company has to sign up and pay an annual fee. Once you have an account, Wove will make recommendations of companies — other Wove users — to work with based on their market and/or customer demographic. When a pair of companies express mutual interest, Wove handles the execution and measures the effectiveness of the partnership with its suite of digital tools built into the platform.

Here’s an example of a hypothetical partnership born out of Wove: A dog-walking startup like Wag logs onto Wove and is matched with Ollie, a dog food startup. The pair agree to set up a short-term promotion, providing discounts to Ollie customers if they set up a Wag account and vice versa. Wove then negotiates the terms of the partnership, develops the promotional materials and ultimately determines how well that partnership bolstered the businesses. 

The idea for this marketing matchmaking service came, Siegel says, from TapFwd’s customers.

“We got here because our customers pulled us over here,” Siegel said. “This originally grew as a pretty organic side project and now we are catching up to the customer demand. We have a lot more demand than we can service.”

With the $9 million investment, the San Francisco-based startup, which counts HotelTonight, Turo and Winc as customers, plans to scale its engineering team.

August Capital’s Howard Hartenbaum has joined the startup’s board of directors as part of the round.

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Sep
19

415th Roundtable For Entrepreneurs Starting NOW: Live Tweeting By @1Mby1M - Sramana Mitra

Today’s 415th FREE online 1Mby1M roundtable for entrepreneurs is starting NOW, on Wednesday, September 19, at 8:00 a.m. PDT/11:00 a.m. EDT/8:30 p.m. India IST. Click here to join. All are...

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Original author: Maureen Kelly

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Jan
24

Fleet raises $10M Series A to make international logistics speedier and more transparent

Ghostery is launching new versions of its browsers for iOS and Android. In fact, Director of Product Jeremy Tillman said this is the first big update to Ghostery’s mobile browsers in several years.

It’s not that mobile wasn’t a priority for the team before this, but Tillman said, “In our previous company, we didn’t have a ton of resources — we always had to choose which thing to work on.” Apparently that changed last year with Ghostery’s acquisition by German browser company Cliqz.

The first big launch after the acquisition was Ghostery 8, the latest version of the team’s privacy-focused extension for desktop browsers. Next up: Bringing those features over to mobile.

Tillman said the goal was to create “a browser that can go toe-to-toe with Chrome” while also incorporating Ghostery’s privacy protection capabilities. Those capabilities include the ability to block different kinds of ad tracking by category (tracking for advertising, adult advertising and site analytics are turned on by default).

There’s also a built-in ad blocker, and Ghost Search, a privacy-focused search engine based on Cliqz technology that does not store any personally identifiable information. (If you’re not satisfied with the Ghost Search results, you can also see results from other search engines.) The presentation is different from a standard search engine, with three “dynamic result cards” that surface content as soon as you start entering search terms. And there’s Start Tab, a home screen that highlights your favorite or most visited sites, as well as the latest news stories.

The Android version includes additional features, including AI-powered anti-tracking and “smart blocking” that’s supposed to improve page performance.

Tillman described the result as “a cleaner, faster, safer mobile browsing experience.” He also said that moving forward, Ghostery will be working to provide “an ecosystem of products” that “protect our users wherever they’re interacting with the Internet.”

The launch comes as the big Internet platforms face growing scrutiny over how they handle user data. Tillman argued that by simply giving consumers a more privacy-friendly alternative, “We’re sort of collectively negotiating a better Internet for them” — and he’s hoping Ghostery can be more involved as publishers try to find alternatives to advertising.

“Our goal isn’t to, say, topple Google and Facebook, but to provide that alternative to those that want it — both for content creators but also for users themselves,” he said.

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Sep
19

1Mby1M Virtual Accelerator Investor Forum: With Patricia Nakache of Trinity Ventures (Part 3) - Sramana Mitra

Sramana Mitra: In terms of stage, you said you do seed, Series A, and Series B, your sweet spot being Series A. What is your definition of Series A? What do you like to see if you’re ready to do a...

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Original author: Sramana Mitra

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