Jun
28

Bootstrapping to $13 Million from the UK: David Lloyd, CEO of The Intern Group (Part 3) - Sramana Mitra

Sramana Mitra: The under-21 World Cup became a client of yours and they were offering internships on your platform. You started finding those interns through your platform. David Lloyd: Exactly....

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Original author: Sramana Mitra

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Sep
30

How Bentley Systems’ 3DFT could conquer the infrastructure metaverse

The challenges faced by parents of kids with special needs are always unique, but in one way they are surely much alike: making sure the kids are getting what they need from schools is way harder than it ought to be. ExceptionAlly is a new startup that aims to help parents understand, organize and communicate all the info they need to make sure their child is getting the help they require.

“There are millions of parents out there trying to navigate special education. And parents with special needs should have access to more information than what one school tells them,” said ExceptionAlly co-founder and CEO Rayford Davis. “Those with the means actually hire special education attorneys, but those are few and far between. We thought, how can we democratize this? So we’re trying to do what TurboTax did for CPAs: deliver a large percentage of the value for a small percentage of the cost.”

The company just emerged from Y Combinator and is pursuing full deployment ahead of this school year, with a visibility push during the usual back-to-school dates. It’s still early days, but Davis tells me they already have thousands of users who are taking advantage of the free and paid aspects of the service.

Just because a parent has a kid with dyslexia, or a hearing impairment, or a physical disability, doesn’t mean they suddenly become an expert in what resources are out there for those kids — what’s required by law, what a school offers voluntarily and so on. Achieving fluency in these complex issues is a big ask on top of all the usual parental duties — and on top of that, parents and schools are often put in adversarial positions.

There are resources out there for parents, certainly, but they’re scattered and often require a great deal of effort on the parents’ part. So the first goal of the service is to educate and structure the parents’ information on the systems they’re dealing with.

Based on information provided by the parent, such as their kid’s conditions or needs, and other information like school district, state and so on, the platform assists the parent in understanding both the condition itself, what they can expect from a school and what their rights are. It could be something as simple as moving a kid to the front row of a classroom to knowing how frequently the school is required to share reports on that kid’s progress.

Parents rarely know the range of accommodations a school can offer, Davis said, and even the schools themselves might not know or properly explain what they can or must provide if asked.

For instance, an IEP, or individual education plan, and yearly goals are required for every student with special needs, along with meetings and progress reports. These are often skipped or, if not, done in a rote way that isn’t personalized.

Davis said that by helping parents collaborate with the school and teacher on IEPs and other facets of the process, they accomplish several things. First, the parent feels more confident and involved in their kid’s education, having brought something to the table. Second, less pressure is put on overworked teachers to produce these things in addition to everything else they have to do. And third, it either allows or compels schools to provide all the resources they have available.

Naturally, this whole process produces reams of documents: evaluations, draft plans, lesson lists, observations, reports and so on. “If you talk to any parent of a child with special needs, they’ll tell you how they have file cabinets full of paperwork,” Davis said.

ExceptionAlly will let you scan or send it all these docs, which it helps you organize into the various categories and find again should you need them. A search feature based on OCR processing of the text is in development and should be in place for the latter half of the coming school year, which Davis pointed out is really when it starts being necessary.

That, he said, is when parents need to keep schools accountable. Being informed both on the kid’s progress and what the school is supposed to be doing lets the resulting process be collaborative rather than combative. But if the latter comes to pass, the platform has resources for parents to deploy to make sure the schools don’t dominate the power equation.

“If things progress that way, there’s a ‘take action toolkit’ to develop communications with the school,” Davis said. Ideally you don’t want to be the parent threatening legal action or calling the principal at home. A timely reminder of what was agreed upon and a nudge to keep things on track keeps it positive. “It’s sort of a reminder that we should all be on ‘team kid,’ if you will,” he added.

Schools, unfortunately, have not shown themselves to be highly willing to collaborate.

“We spent about six months talking to over a hundred schools and districts. What we found was not a lot of energy to provide parents with any more information than what the school was already providing,” Davis explained.

The sad truth here is that many schools are already neck-deep in administrative woes, the teachers are overworked and have new responsibilities every year and the idea of volunteering for new ones doesn’t strike even the most well-intentioned schools as attractive. So instead, ExceptionAlly has focused on going directly to parents, who, confidently and well-armed, can take their case to the school on their own.

“Listen, we’re not getting ready to solve all of education today with our solution. We’re going to find that one mom who says, ‘I know there’s more out there, can someone help me find it?’ Yes, we’re going to help you do that,” he said. “Could that put pressure on the system? As long as it does it legally and lawfully, I am perfectly okay with advocating for a child and parents’ legal rights and putting pressure on the system to give them what they by law deserve.”

After the official launch ahead of this school year, the company plans to continue adding features. Rich text search is among them, and deeper understanding of the documents could both help automate storage and retrieval and also lead to new insights. At some point there will also be an optional program to submit a child’s information (anonymously, of course) to help create a database of what accommodations in which places and cases led to what outcomes — essentially aggregating information direct from the source.

ExceptionAlly has some free content to peruse if you’re curious whether it might be helpful for you or someone you know, and there are a variety of paid options should it seem like a good fit.

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Jan
04

Shadow launches its cloud computer for gamers in California

June 27, 2018

Mahendra Ramsinghani, my friend and co-author of Startup Boards: Getting the Most Out of Your Board of Directors, is starting work on his third book to be titled Depression – A Founder’s Companion. If this is an important topic to you, please spend 10 minutes on the survey Mahendra is doing.

After the recent passing of Kate Spade and Anthony Bourdain, the conversation around depression and suicide has escalated in a generally constructive way. More people are talking openly about depression, especially among highly creative and successful people. While the stigma around depression and other mental health issues in our society is still extremely significant, the leadership from an increasing number of visible people around their struggles is starting to make a dent in the stigma.

Mahendra’s goal is to publish a book that tells stories, anecdotes, triggers, advice, poetry, and support of all kinds from people who have struggled with depression. It’ll be aimed at, but not limited to, entrepreneurs who have struggled with depression. By compiling and sharing this writing, the journey can become easier and the stigma may continue to be diminished.

While I am not writing the book, I am supporting the concept and have agreed to write the foreword. I believe now is the time for us to accelerate our awareness of depression and continue to build support systems to help founders. We should not wait for yet another star to burn-out prematurely.

The data Mahendra is collecting on the Google form-based survey is anonymized. If you want to connect with Mahendra to go deeper on this topic, there’s an optional field at the end of the survey for your email address.

For anyone who is willing to participate in this project, thanks in advance.

Also published on Medium.

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Original author: Brad Feld

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Jun
27

Bannersnack makes it easy to punch the monkey (and more)

An app like Bannersnack is something you never think you need — until you do. Designed by a digital marketer from Romania, Gabriel Ciordas, the app was originally called FlashEff and was used to create Flash banners for online marketers. Over time, however, HTML5 and graphics overtook Flash and the company pivoted to offering easy-to-use design tools for marketers and business owners.

The service is free to try and costs $7 a month 30 static images; $18 a month gets you embedded banners with full analytics. The company is completely bootstrapped and has been working in the space since 2008.

“Bannersnack has always been self-funded. We built our resources step by step, as our business grew together with our efforts. We think it’s fair to say that we worked for every penny we’ve ever gotten and further invested it back into growing our business,” said Ciordas.

The service has 100,000 monthly users who create 180,000 visuals a month. They offer standalone graphics as well as responsive HTML5 images. The most interesting tool, the Banner Generator, creates banners in multiple sizes instantly, freeing business owners up to do what they do best: sell stuff.

Again, it is rare to see a product so focused on a single, important niche, and Bannersnack fits the bill. While you could fire up Pixelmator and try to make your own banners, this tool is surprisingly pleasant to use and works quite well.

“Our main objective is to empower marketers, designers, and business owners, while reshaping the way agencies and businesses create visuals for their marketing purposes,” said Ciordas. After all, not everyone has the skills or talent to create flashing banners featuring exciting mortgage reduction opportunities and free iPad sweepstakes.

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Jun
27

1Mby1M Virtual Accelerator Investor Forum: With Ira Weiss of Hyde Park Venture Partners (Part 1) - Sramana Mitra

Responding to a popular request, we are now sharing transcripts of our investor podcast interviews in this new series. The following interview with Ira Weiss of Hyde Park Venture Partners was...

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Original author: Sramana Mitra

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Jun
27

Warby Parker’s Dave Gilboa is coming to Disrupt SF

In 2010, the eyewear industry got its long-awaited new player. Warby Parker entered the market with a simple offering: stylish Rx glasses, bought online, for a reasonable price.

While this sounds like a pretty obvious concept in 2018, the world of e-commerce was just beginning its insane growth streak back in 2010. And glasses, of all things, weren’t something that many people thought could be purchased online.

But through a simple try-before-you-buy system, Warby Parker made it possible.

Flash-forward eight years and Warby Parker has become a household name, with more than 50 stores across the United States and Canada, and more than $290 million raised. The brand has evolved beyond a simple set of glasses to become an example for many startups, particularly where social good is concerned.

For each pair of glasses sold, Warby Parker donates a pair to someone who needs glasses but doesn’t have access to them.

All that said, we’re obviously thrilled to have Warby Parker co-founder and co-CEO Dave Gilboa join us onstage at Disrupt SF.

Gilboa has helped Warby Parker grow from a small e-commerce startup to a massive brand, and has helped evolve the company beyond an e-commerce brand, providing vision tests alongside the product.

At Disrupt SF, we’ll discuss how Warby grew its e-commerce presence, the company’s approach to offline retail versus online and what’s next in store for Warby Parker.

Gilboa joins other notable speakers, such as Drew Houston, Priscilla Chan, Ashton Kutcher, Reid Hoffman and many more.

Tickets to the conference, which runs September 5 to September 7, are available here.

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May
14

RANKED: Britain's millionaire entrepreneurs under the age of 30

French startup Taster, formerly known as Mission Food, is building restaurants around big cities specifically for Deliveroo, UberEats and Glovo. These restaurants don’t have any tables, they’re all about serving food on online platforms.

The startup just raised a $4 million funding round led by Sunstone Capital, with Global Founders Capital, Thierry Gillier and LocalGlobe also participating. Kima Ventures and Marc Menasé participated in the previous round.

If you look at food startups, it all started with Just Eat, Grubhub and Seamless listing restaurants with delivery fleets. This way, instead of keeping a pile of flyers with phone numbers, you can find all the pizza and sushi places on one site.

But Deliveroo, UberEats, Glovo and Postmates introduced a new chunk of restaurants to deliveries. For the first time, regular restaurants could start accepting online orders. Startups could take care of the orders and deliveries.

And some restaurants have become instant hits on those platforms. But it doesn’t necessarily scale as much as they would want. They’re still constrained by the size of their kitchens, and opening a new restaurant is a big deal.

That’s why Deliveroo started investing in satellite kitchens for the most popular restaurants — these kitchens are basically containers on car parks.

Taster doesn’t want to work with existing restaurants. The company wants to create new restaurant chains instead and control the menu and the kitchens.

The name Taster might not be familiar, but you may have already ordered from a Taster virtual restaurant. The company has set up three Mission Saigon restaurants in Paris, one in Madrid and one in Lille.

You may have also ordered from O Ke Kai’s two restaurants in Paris. More recently, Taster launched Out Fry.

As you can see, Taster has been quite aggressive when it comes to rolling out new restaurants. When you find those “restaurants” on Deliveroo or another platform, nothing tells you that it isn’t actually a restaurant but just a kitchen.

This is a smart approach, as Taster can keep the costs down. It doesn’t need to rent big spaces, it doesn’t need as much staff and it doesn’t handle deliveries. By listing its restaurants on third-party platforms, Taster can also more easily compete with full-stack startups, such as Frichti, Nestor, FoodChéri and others.

But Taster’s success might be an issue. If the startup manages to take over Deliveroo and UberEats, traditional restaurants might complain. Deliveroo and UberEats could also change their rules and delist them overnight.

Taster is highly dependent on those third-party platforms. But it shouldn’t be an issue for now, as more restaurants bring more customers for delivery companies.

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Jun
27

Hoodline launches a content recommendation widget that’s all about local news

Hoodline continues to serve as a reliable source of neighborhood news for San Francisco and Oakland, but it’s also been building tools that help other publications supplement their local coverage.

Earlier this year, the company launched a news wire that automates the creation of local news stories using online data sources like Yelp and Zumper. Now it’s also releasing a content recommendation widget that’s similarly focused on local news.

We’ve all seen widgets from companies like Outbrain and Taboola, usually with celebrity-focused, gimmicky or otherwise sensationalistic headlines. COO Jes Wolfe said the Hoodline module was built in response to requests from the “hundreds” of publishers and broadcasters that the company works with — they wanted to provide content recommendations that were genuinely relevant to readers, not just “generic clickbait.”

The stories being recommended come from several different sources — the individual publisher (in fact, they can limit the recommendations to their own articles if they want), the Hoodline Local Data Wire and the broader network of publishers.

Whatever the source, CTO Shwetank Kumar said Hoodline’s Atlas platform can automatically tag articles with things like geolocation and sentiment. So when the module shows up next to an article, it can recommend other stories that are locally relevant and have a similar topic and tone.

By limiting recommendations to local news from the Hoodline network, the company should be able to avoid most of the clickbait filling up other content widgets. In addition, Head of Product Melissa Mazman said Hoodline is trying to “strike a balance” by surfacing content that people actually want to read without prioritizing clicks at the cost of quality or other engagement metrics.

Kumar added that the location-focused approach also means that Hoodline can provide these recommendations without tracking your online behavior. Or as he put it, “We try to do personalization through localization rather than through privacy violation.”

Of course, not every neighborhood will have a rich supply of relevant stories, but Mazman said the module “keeps zooming out” to the city or even state level until it finds relevant content. (Not that going statewide is generally necessary — Mazman said pulling back to the metropolitan area is usually enough.)

Hoodline says that in the initial tests, the module resulted in an average clickthrough rate that was more than double those of existing products.You can actually judge the recommendations side-by-side with Outbrain on the websites of local ABC TV stations (Hoodline participated in the startup accelerator run by ABC’s parent company Disney). For example in this story about a taqueria fire in Houston, Outbrain’s recommendations appear on top, while Hoodline powers the “More from Houston” headlines.

By the way, I should note that Hoodline’s editorial team is led by former TechCrunch co-editor (and my longtime friend) Eric Eldon. The startup was acquired by Ripple News (now known as Pixel Labs) in 2016, and since then, Hoodline has become the brand for all of the company’s consumer-facing products.

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Jun
27

1Mby1M Virtual Accelerator Investor Forum: With William Hsu of Mucker Capital (Part 2) - Sramana Mitra

Sramana Mitra: Can you take us through a couple of case studies. Let’s say Trunk Club and Task Rabbit. At what stage did they come to you? Did they have to pivot out of their original hypothesis? How...

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Original author: Sramana Mitra

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Sep
30

Neal Stephenson’s Lamina1 launches Open Metaverse Conference

Cordial, a San Diego startup building what CEO Jeremy Swift described as a “truly next-generation platform” for email marketing, has raised $15 million in Series B funding.

Swift and his co-founders come from email marketing company BlueHornet/Mapp Digital, which he said gave them the background to see “the market was really screaming: There needs to be a better way.”

We’ve written about plenty of other email marketing products. For example, last week I covered Stensul, which focuses on the email creation process. But Swift argued that most startups are building “point solutions” that sit on top of existing email platforms, whereas Cordial is “unequivocally” taking on the big marketing clouds offered by Oracle, Adobe, IBM and Salesforce.

Cordial has gone to market to say you don’t need a legacy solution, plus a whole host of other point solutions, to try and do real-time messaging in a better way,” he said.

When Swift and Sales Engineering Manager Justin Soni gave me a quick demo of the Cordial platform, one of the big distinctions they pointed to was the way it uses customer data. Rather than targeting and customizing emails based on broad customer segments, they showed me how a Cordial email can incorporate dynamic elements that are updated with real-time, personal data — as Soni clicked around on different products on the merchant website, the email he was creating changed based on that behavior.

In addition, Cordial applies machine learning technology to optimize the emails — not just testing out variations on one element, but every part of the email, from the subject line to the call-to-action button.

And while Cordial started out with email, Swift said it’s expanded to include other messaging channels like push notifications and SMS. All of that can be coordinated from within a tool called Podium, where a marketer uses a visual interface to build different communication flows based on customer actions.

Cordial previously raised $6 million in Series A funding. Companies using the platform include Freshly, La Quinta and 1-800-Contacts.

The new funding was led by PeakSpan, with participation from Upfront Ventures and High Alpha. Swift said this will allow Cordial to continue adding new marketing channels (the goal is one per quarter) and to continue investing in the technology.

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Sep
28

What the zero-trust security market looks like beyond 2022

Peloton, the unicorn spin (and now treadmill) business that lets users work out via live-streamed classes, has today announced its first acquisition. The company acquired Neurotic Media, a B2B music aggregation and streaming service.

Atlanta-based Neurotic Media was founded in 2001 by Shachar “Shac” Oren, who will become a VP at Peloton serving under Peloton’s Head of Music Paul DeGooyer. The entire Neurotic Media team and offices will remain in Atlanta, continuing operations as a standalone subsidiary serving third-party clients.

Neurotic Media is a white-label distribution and marketing platform, helping brands influence and engage customers via popular music. Essentially, the company connects a brand with a certain popular song or songs that align with their brand mission.

The idea here is that music is integral to working out. Given Peloton’s focus on bringing a high-quality workout to the comfort of a user’s home (or one of their studios), music plays a big role. But one doesn’t often dabble in the music industry without either 1) experience or 2) loads of money. While Peloton has plenty of cash to go around, Neurotic brings nearly two decades of experience to the Peloton portfolio.

Here’s what DeGooyer had to say in a prepared statement:

Our Members have embraced music as central to the Peloton experience and consistently rank it as one of the top aspects of the brand. The addition of Shac and his amazing team to the Peloton family will help us rapidly deploy new music features we know our Members want, along with some unique innovations we think they’ll love.

Peloton has been making moves as of late. The company launched an expanded iOS app called Peloton Digital, and has announced plans to expand into the U.K. and Canada starting in the Fall. Plus, Peloton opened a new Tread studio in NYC, with plans to open a massive multi-studio space on the West Side of Manhattan next year.

Peloton was founded in 2012 and has raised a total of $444.7 million. The terms of the deal were not disclosed.

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Jun
27

Puppet raises $42M led by Cisco as its DevOps automation platform passes 40,000 businesses

DevOps — the branch of enterprise IT that involves both products and best-practices for developers to build, test and run apps and other software — is on track to be worth nearly $13 billion by 2025. Now, a startup that is building DevOps tools is announcing a significant funding round to capitalize on that opportunity. Portland, Oregon-based Puppet (formerly Puppet Labs) has raised $42 million in funding in a venture round with a number of strategic and key financial investors.

The funding was led by Cisco, with Kleiner Perkins, True Ventures, Singapore’s EDBI and VMware also participating.

The company isn’t readily disclosing its valuation — although we are trying to find out — but according to PitchBook, its last disclosed valuation was in 2014, when it raised $40 million and was valued at $652 million post-money.

But Puppet has grown more than two-fold in the last four years: back then, it had 18,000 customers, including the likes of Google, Twitter, Salesforce and AT&T. Now, it says it has more than 40,000 companies as customers, “including more than 75 percent of the Fortune 100” using both its open source and commercial products — and it’s expanded internationally and has made a couple of acquisitions (including the startup Reflect earlier this month).

All this would imply that Puppet, which now has raised $150 million to date, is likely valued at significantly more than $700 million, and may well be approaching the $1 billion-mark.

“Our rapid growth and international expansion is a testament to the rising demand for DevOps transformation, software automation and the pressing need for enterprises to navigate the new world of software delivery. That’s why we’ve been so focused on expanding our product portfolio—to empower customers to discover, deliver and operate software across their cloud and containerized environments,” said Sanjay Mirchandani, CEO, Puppet, in a statement. “I’m thrilled by the momentum we’re experiencing. It helps us better support our customers’ journey to pervasive automation.”

The growth of cloud services, and the ubiquity of digitization, have led to a wide slate of functions in a business falling under the category of developer-led operations.

This has, in turn, driven a bigger demand for better processes to run these operations and the infrastructure that they touch. Puppet is not the only company in this area: in addition to large players like Cisco and CA Technologies and EMC, there are startups like Docker, Chef and more.

Puppet’s solutions cover applications, cloud services, containerized services and networking devices, and that mix is part of what is attractive about the company, as many businesses today are not all-in on modern architectures, but are grappling with hybrids of old and new, cloud and on-premises, and so on. (Indeed, the “Puppet” name is a reference to how it works: developers can control the actions of the their applications over the network as puppeteers control puppets, without being seen).

“ServiceChannel has an aggressive technology roadmap. One that not only takes advantage of cloud native capabilities and containerized applications, but also requires modernization of existing, critical systems. Automation is necessary to help us deliver on that roadmap within the constraints of business—safely and at scale,” said Mark Trumpbour, VP of DevOps at ServiceChannel, in a statement.

Investors Cisco and VMware are themselves already key players in the area of DevOps (and Cisco and VMWare, both previous investors, already work with Puppet), while another backer, EDBI, holds investments in a number of companies that are potential customers for the startup.

“Businesses put increasingly massive pressure on enterprise IT—so, it’s important that those IT organizations partner with technology providers with compelling innovation, world-class support and a global community of experts. Puppet has a track record of empowering its customers with all of these critical elements,” said Rob Salvagno, VP of Corporate Development and Cisco Investments, in a statement. “We look forward to working even more with Puppet as the global demand for automation technology and innovation continues to accelerate.”

“In today’s digital age, companies face increasing complex IT challenges dealing with their dynamic and diverse IT infrastructure. Puppet’s automation and management platform transforms how companies manage and improve the efficiency of their IT assets and can help companies in Singapore realize productivity gains while ensuring compliance,” said Swee-Yeok CHU, CEO and president EDBI, in an additional statement. “Leveraging our network, we look forward to helping Puppet scale up its local talent pool to address the region’s opportunities through its APAC Regional HQ in Singapore and to augment Singapore’s digital transformation strategy.”

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Jun
27

Codefresh raises $8M Series B round for its container-centric CI/CD platform

Codefresh, a continuous integration and delivery platform built for the Kubernetes container ecosystem, today announced that it has raised an $8 million Series B round led by M12, Microsoft’s venture fund. Viola Ventures, Hillsven and CEIF also participated in this round, which brings the company’s total funding to $15.1 million.

In a market where there are seemingly more CI/CD platforms every day, Codefresh sets itself apart thanks to its focus on Kubernetes, which is now essentially the de facto standard for container orchestration services and which is seeing a rapid growth in adoption. The service promises it can help developers automate their application deployments to Kubernetes and that teams will see “up to 24X faster development times.” That number seems a bit optimistic, but the whole point of adopting Kubernetes and CI/CD is obviously to speed up the development and deployment process.

“The meteoric rise of Kubernetes is happening so fast that most toolchains haven’t kept up, and M12 knows it,” said Raziel Tabib, Codefresh co-founder and CEO. “With this latest round of funding we’re going to aggressively accelerate our roadmap and expand our customer base.”

The Codefresh platform hit general availability in 2017 and the company currently claims about 20,000 users, including the likes Giphy.

 

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Jun
27

Billion Dollar Unicorns: Is Affirm Overvalued? - Sramana Mitra

According to the Federal Reserve Bank, there were nearly $1.38 trillion of consumer loans at all commercial banks in the US as of July 2017. The global consumer lending balances at the beginning of...

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Original author: MitraSramana

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Jun
27

Bootstrapping to $13 Million from the UK: David Lloyd, CEO of The Intern Group (Part 2) - Sramana Mitra

Sramana Mitra: 2011 was when you started? David Lloyd: January 2011. Sramana Mitra: What were the circumstances? What was going on in the industry? What was going on in your own personal life? What...

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Original author: Sramana Mitra

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Sep
28

Blankos Block Party leaves early access with Godzilla in tow

Rocket Lab, the New Zealand-based rocket company that is looking to further amplify the commercial space frenzy, is launching its first fully paid payload atop an Electron rocket tonight — technically tomorrow morning at the launch site. If successful, it will mark a significant new development in the highly competitive world of commercial launches.

Update: Sorry folks but not today. The company said it will announce a new target soon, while the launch window remains July 6.

Liftoff is planned for 2:10 in the morning local time in New Zealand, or 7:10 Pacific time in the U.S.; the live stream will start about 20 minutes before that.

The Electron rocket is a far smaller one than the Falcon 9s we see so frequently these days, with a nominal payload of 150 kilograms, just a fraction of the many tons that we see sent up by SpaceX. But that’s the whole point, Rocket Lab’s founder, CEO and chief engineer Peter Beck told me recently.

“You can go buy a spot on a big launch vehicle, but they’re not very frequent. With a small rocket you can choose your orbit and choose your schedule,” he said. “That’s what we’re driving at here: regular and reliable access to space.”

An Electron rocket launching during a previous test

Just like not every car on the road has to be a big rig, not every rocket needs to be a Saturn V; 150 kilos is more than enough to fill with paying customers and cover the cost of launch. And Beck told me there is no shortage whatsoever of paying customers.

“The most important part of the mission is the timing in which we manifested it,” he explained (manifesting meaning having a payload added to the manifest). “We went from nothing manifested to a full payload in about 12 weeks.”

For comparison, some missions or payloads will wait literally years before there’s an opportunity to get to the orbit they need. Loading up just a few weeks ahead of time is unusual, to say the least.

Today’s launch will carry satellites from Spire, Tyvak/GeoOptics, students at UC Irvine and High Performance Space Structure Systems; you can see the specifics of these on the manifest (PDF). It’s not the first time an Electron has taken a paid payload to orbit, but it is the first fully commercialized launch.

Rocket Lab has no ambitions for interplanetary travel, sending people to space or anything like that. It just wants to take 150 kilograms to orbit as often as it can, as inexpensively as it can.

“We’re not interested in building a bigger rocket, we’re interested in building more of this one,” Beck said. “The vehicle is fully dialed in; we started from day one with this vehicle designed from a production approach. We’re fully vertically integrated, we don’t have any contractors, we do everything in-house. We’ve been scaling up the factories enormously.”

“We’re looking for a one-a-month cadence this year, then next year one every two weeks,” he continued. “Frequency is the key — it’s the choke point in space right now.”

Ultimately the plan is to get a rocket lifting off every few days. And if you think that will be enough to meet demand, just wait a couple years.

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Jun
15

1Mby1M Virtual Accelerator Investor Forum: With Laurel Touby of Supernode Ventures (Part 3) - Sramana Mitra

Honk Technologies, a marketplace for towing services for consumers and insurance companies, has raised $18 million in a new round of funding a little over a year after inking a massive contract with the insurance company, Farmers.

The investment was led by Altpoint Ventures, with participation from existing investors Structure Capital and Venture 51.

The company said it would use the funds to build on its network of 75,000 tow truckers and roadside assisters, as well as add new services for insurers, fleet managers and manufacturers. 

Company chief executive Corey Brundage declined to comment on the company’s revenue, path to profitability or valuation in an interview.

Honk basically applies to the towing business the same technology ride-hailing uses, making trucks more responsive and slashing the time that a customer waits to get help when they need it, according to Brundage.

As we wrote last year, roadside assistance is a huge, fragmented market. According to the market research firm, IBISWorld, customers spend roughly $6 billion on roadside assistance services.

Customers call for a tow directly from Honk via mobile web or the company’s app to find a nearby professional and track the location and estimated time of arrival of their tow truck in real time. Insurance companies, auto OEMs and fleets use the company’s transparent platform to reduce wait times by over 50 percent, improve customer satisfaction, harness their roadside assistance data and receive industry leading net promoter scores, according to a statement.

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Jun
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1Mby1M Virtual Accelerator Investor Forum: With Hussain Kanji of Hoxton Ventures (Part 6) - Sramana Mitra

Sramana Mitra: India is getting back into the more fundamentals-driven model which I thought was always going to be the case. There was just a period where people got sidetracked. I think India is...

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Original author: Sramana Mitra

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Jun
15

YC alum Modern Health, a startup focused on emotional wellbeing, gets $2.26M seed funding

Silicon Valley, for better and oftentimes worse, provides an uncanny valley view of the ups and downs of IRL Silicon Valley.

The HBO series has shown what it’s like to deal with an incumbent who steals an idea or IP, the humiliation of saving the day, only to be fired as CEO by your VC, or the fear and exhilaration of competing on the Startup Battlefield stage — a familiar spot for those who have been to Disrupt.

TechCrunch is helping create another Silicon Valley meta moment. Silicon Valley co-creator Mike Judge will join us on stage at TC Disrupt SF.

Interestingly, Judge joined a team from HBO at Disrupt well before Silicon Valley ever aired, doing research for the then-forthcoming series. And, of course, Season 1 ended with the Startup Battlefield stage.

The cycle continued in 2016, when Judge came on stage to discuss what it’s like to parody Silicon Valley culture.

And round and round we go.

Judge has been in the entertainment industry for a long time, creating Beavis and Butt-head, co-creating King of the Hill, and serving as writer and director for classic films like Office Space and Idiocracy.

As Silicon Valley heads into its sixth season, we’re excited to chat with Judge about the direction of the show and the evolution of the media industry as a whole.

And hey, maybe we’ll hear a few spoilers for the upcoming season.

Tickets to the Disrupt SF 2018 are available right here.

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Jun
26

b8ta raises $19 million Series B led by Macy’s

b8ta, the retail-as-a-service startup, has closed a $19 million Series B round led by Macy’s, with participation from Sound Ventures, Palm Drive Capital, Capitaland, Graphene Ventures, Khosla Ventures and Plug and Play Ventures. This round brings b8ta’s total funding to $39 million.

Macy’s decision to lead this round comes in light of its recent partnership with b8ta to enhance the retailer’s experiential-based concept called The Market. Macy’s is also expanding its partnership with b8ta to launch The Market in a larger space, entirely powered by Built by b8ta, which functions as a retail-as-a-service platform for brands that want a physical presence. b8ta’s software solution includes checkout, inventory, point of sale, inventory management, staff scheduling services and more.

“Testing a shop with them in their store and having really good success made us feel bullish that this model would work well for them,” b8ta CEO Vibhu Norby told TechCrunch.

To the outsider, there’s this idea that Macy’s is struggling — in light of a bunch of store closures. That was a conversation b8ta had internally, Norby said.

“As an example, our board was initially not certain we should do something with them, but I felt like it was worth a shot,” Norby told me. “For us to get comfortable, we spent a lot of time trying to understand their business. What we found was that perception in the media didn’t really meet the reality for us. The reality is Macy’s is one of the most important companies in the country.”

Macy’s, Norby said, is also one of the largest real estate companies in the world and owns “so much real estate in all of the best places.”

He added, “it’s not that retail itself is dying, it’s just that it’s changing. The way people want to shop is changing and we have a shared alignment on bringing that next generation of a company into the space.”

In addition to the expanded partnership with Macy’s, b8ta is opening new flagship stores in Chicago and Tysons Corner, Va. b8ta currently has more than 78 flagship stores across the country to let consumers experience tech gadgets in real life.

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