jueves, 25 de febrero de 2021

The Landing is bringing shoppable social and collaboration to interior design

Monetizable mood boards might sound like the moonshot idea that no one asked for, but when you think about it, the vision is already informally happening in various corners of the internet. A young generation of users shops with community in mind, whether that’s buying merchandise from your favorite influencers or giving into those Instagram advertisements after spending way too much time on the grid.

As more users think of shopping as a social, digital-first activity, The Landing, a seed-stage startup coming out of stealth, is hoping to win over those who have an affinity for designing homes and spaces. On The Landing, users can create, and shop from, room designs to help furnish their homes.

Image Credits: The Landing

“There’s no contextually rich, visual shopping destination, where you could curate and discover and share and shop all in one place,” co-founder Miri Buckland said. The Landing hopes to be that destination.

Started by Buckland and Ellie Buckingham, The Landing is launching with $2.5 million in financing, in a round led by Aileen Lee at Cowboy Ventures. Lee will be taking a board seat. Other investors include Dara Treseder, the CMO of Peloton, Manish Chandra and Tracy Sun, the founders of Poshmark, Unshackled, Designer Fund, and Progression Fund.

The Landing began as a pandemic pivot. Buckland and Buckingham were always interested in solving the pain point of contextual furnishing for users, but began by physically moving people into apartments and helping them set up different furniture. Then, the pandemic hit and limited the ability to do high-touch services. Buckingham says that this was “potentially the best forcing function” to focus on what kind of business The Landing wanted to be.

“I don’t need to be the person moving into your apartment with a couch,” she said. “It was about the importance of empowering creativity and empowering individuals to create digital and physical spaces.” That’s when they dropped the moving service business, and instead used furnishing as a vector to solve the problem of contextual and social e-commerce.

It’s a smart idea that has not gone unnoticed. Houzz, a Sequoia-backed home improvement startup, connects users to products from third-party retailers as well as services from architects, designers, or contractors. There’s also Modsy, which has raised north of $70 million to date, which helps users virtually redesign their homes.

Buckingham worked for Modsy when she was at business school, where she first started noticing that she disagreed with the startups’ main thesis.

“Their motto was basically a digital rendition of an existing human service,” she said. “And I came away from the experience not super convinced that the service model was the scalable, future answer to consumerization of access to design.” She noticed that the younger generation was looking for a self-serve, customizable answer, instead.

Miri Buckland and Ellie Buckingham, the co-founders of The Landing.

The Landing is launching with creative tooling capabilities, which allow users to build and design spaces within its platform. In the coming months, the team is focused on adding a social layer atop the design tool, with features like profiles, discovery, fede, and commenting.

The Landing’s Slack channel is currently being used to discuss these features and what is most in-demand from early users.

The founders aren’t worried about a lack of demand, or only being a platform for the few times that people furnish their homes throughout their lifespan. As Buckland pointed out, people browse Zillow all the time, and have Reddit channels about dream homes, creating designs, and more. The startup is aiming to serve that population as well — the dreamers and not just the realists.



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jueves, 11 de febrero de 2021

TikTok emerges as a political battleground in Navalny-stirred Russia

TikTok has crafted a number of policies over the years to distance itself from the often-messy political fray, but its users continue to have other agendas in mind.

In Russia, a tug-of-war has emerged on the social network.

On one side are young people using the app to create videos in support of free speech, rallying the public against the government and its treatment of Alexander Navalny, the anti-Putin, anti-corruption politician and activist.

On the other is a government that has quickly versed itself in the art of video messaging — tapping and allegedly paying influencers to dissuade the masses from joining them.

Navalny’s long-term battle with Putin’s government has included political run-ins, imprisonments and a poisoning (with an evacuation to Germany to heal), followed by a return to Russia, subsequent arrest and conviction for violating a previous parole.

Through all of that, Navalny has taken on the mantle of anti-authoritarian hero. With many already unhappy about how the government is handling a weak economy and COVID-19 — a situation that has shaken (but, apparently, not completely toppled) government approval ratings — Navalny’s call for mass protests has been met with a strong response.

And as those protests unfold, TikTok is shaping up to be the scrappy social media analogue of that activity — not unlike the prominent role that Twitter took on during the Arab Spring.

“Political content is not typical for Russian TikTok,’’ said food blogger Egor Khodasevich, whose @kushat_hochu account has 1.2 million followers on the app. “Before Navalny’s return, Russian TikTok was all about dancing, pranks and post-Soviet trash aesthetics. All of a sudden, political videos have started to appear across all categories — humour, beauty, sport.’’

Now, in a significant turnaround, Russian content on the app is being flooded with catchy videos of teenagers cutting their passports in half and throwing them away, pupils taking down portraits of Putin and swapping them with those of Navalny, and others creating how-to’s for would-be protestors — advising them to wear warm clothes, to equip themselves with water and power banks and, if arrested, to pretend they are foreign.

@almorozova#навальный #свободунавальному быть против власти – не значит быть против Родины♬ оригинальный звук – новый год кончился…

These are pooling around hashtags like #23января (January 23, the date of one of the biggest protests so far) and #занавального (“For Navalny”).

The wave of videos even got shout-outs from Navalny himself — fittingly, not on TikTok, but Instagram, where he praised the TikTok activists for helping get the word and the crowds out.

“Respect to the schoolchildren who, according to my lawyer, caused a frenzy on TikTok,” he noted on one post. Later he poked fun at how the TikTok protest videos were described as “fakes” planted by dastardly Americans.

Russia as a country has a small but fast-growing and vocal group of TikTok users.

Figures provided to us from SensorTower estimate that of the more than 2.66 billion times to date globally that TikTok has been downloaded (a figure that includes its Chinese version Douyin), it has been installed about 93.6 million times in Russia (figures that don’t count third-party Android stores, direct downloads or sideloads).

A report in the Moscow Times from the end of December estimates that there are around 20 million active users in the country, more than double the 8 million it had at the end of 2019. TikTok itself does not disclose current MAUs in Russia or globally, but analysts have projected that the company is on track to pass 1 billion MAUs sometime in the early part of this year.

Even with those sub-100 million numbers, videos with the Navalny hashtag have passed 1 billion views on the platform (as of the time of publishing, the number of views has passed 1.6 billion).

The Empire Strikes Back…

But Russia is nothing if not persistent when it comes to being ahead of the game in tech, and it has been harnessing the media world in a couple of ways in aid of its own ends.

State television and other state media outlets strongly encouraged people to stay away from protests, citing issues like public safety, the spread of Covid-19, and the threat of arrest (one they followed through on: authorities have carried out controversial mass arrests of hundreds of people at these gatherings).

At the same time, attention turned to social media, and in particular TikTok.

Roskomnadzor first confirmed that it would fine all major social media platforms up to 4 million rubles ($54,000) over protest-related content, citing that “these Internet platforms failed to remove a total of 170 illegal appeals in a timely manner.”

It then followed that up with an order to the management teams of TikTok, Facebook, Telegram and Vkontakte to appear at the regulators’ offices to explain why they have not yet removed offending videos, reminding them that failure to comply will mean that fines will be increased to 10% of a company’s annual revenues, dangling the threat that non-compliance could mean services get blocked.

With TikTokers claiming they were being called in by the police after their videos were taken down, TikTok more directly started to get threatened with fines by the regulator in the wake of all this.

As with previous moves to censor online platforms, investigators explained their actions as a response to societal impact. In this case, regulators described protest videos as a coordinated criminal attempt to get minors to commit illegal acts that could endanger their safety.

In addition to all that, the state appeared to take on a guerilla approach, too.

Small accounts, newly created accounts and popular bloggers slowly all started posting videos persuading people away from the protests. These videos, in Russian, warn of the dangers of protesting.

It turns out that at least some of the people posting videos were quietly getting paid. Sums ranged from 2,000 rubles, or about $25, through to 5,000 rubles, according to one TikToker who declined the offer and posted the proposal on TikTok instead.

(Those figures may not sound very high, but they can still be welcome sums for young people in a country where the average salary as of 2019 is around $718 per month.)

It hasn’t taken long for the situation to get unmasked. Several videos criticizing protests have been removed in the last week. It’s unclear whether TikTok — which declined to comment for this article — or the original creators removed them.

But in one case, a TikToker who goes by the name @golyakov_ (741,000 followers) initially posted a stream of reasons why protesting was dangerous. He then later admitted to getting paid but claimed to believe in what he was saying (perhaps one reason why the video has stayed up?).

Startok, one of the agencies that represents social media influencers, confirmed to us that it has cut ties with two of the creators who had taken payments to make videos in support of the state.

TikTok’s immediate connection and current popularity with younger adults has made  it unique in the social media pantheon. However, it wasn’t the only social media platform seeing anti-Navalny activity — both in terms of messaging, and entities soliciting posts for payments.

A Navalny assistant posted this thread on Twitter of Stories from Instagram casting doubt on Navalny’s decision to return to Russia as a publicity stunt, knowing he would be arrested.

Meanwhile, Boris Kantorovich, a sales director of social media agency Avtorskiye Media who has used Twitter to post about people getting detained, noted that he also came across briefs on Telegram chat ADvizer.me, as well as in a Facebook group that required bloggers to create a video with one or two talking points. He said included “protesters provoked the police at the rally,” “we are tired of Navalny” and “we want peace and quiet.”

When Kantorovich posed as one of the TikTokers that he represents, he received a brief for a 15-second video. “After a quick negotiation I hiked the price up from 2,000 rubles to 3,500 rubles,” he said.

Further creative briefs came with the guidance that they needed to condemn protests on 31 January and 2 February, the second being the date of Navalny’s trial.

“Bloggers should say that ‘Navalny will go to jail 100%’, he is ‘funded from the West’ and ‘his recent imprisonment is legal,” Kantorovich said.

Kantorovich added that authorities didn’t reach out to his agency Avtorskiye Media to advertise with the bloggers it works with: “We clearly mark all ads but authorities don’t like it, because they are trying to create an illusion of a public opinion,” he said.

Similar information was shared by Anatoly Kapustin with the “Picture” advertising agency.

Kapustin, speaking in an interview on non-State-owned Russian TV station Rain, named the “public organization for youth affairs” as an advertiser.

“Talking points on offer were: ‘criminal charges could be brought against protesters,’ ‘you might end up in jail and then not find well-paid jobs,’ and ‘Navalny’s children are studying in America,’” he said in the interview.

In some cases, the virality tricks that TikTok is known for have been used by protestors to turn some of those pro-government campaigns around.

After a wave of people created videos based on the same clip of music that repeats in a deep voice that TikTok is not a place for politics, it’s a place for [fill in a fun and non-political activity/video here] — the audio and hashtag were hijacked by protestors seeking to encourage people to embrace free speech and not silence their voices.

TikTok declined to comment for this story, but in general the company has made it a policy not to wade into partisan politics, or to make a space for political advertising, turning its platform into a commercial opportunity to get political points across.

It declined to comment on whether it was taking down videos that might be reported as possible paid advertising by viewers, nor would it comment on whether it had responded to any government requests to remove videos. It periodically publishes transparency reports where some of that detail, and its subsequent actions, can be found, after the fact. (It judges each request individually.)

One thing that the Navalny situation has exposed is that there is a strong appetite among younger people to be more politically engaged, and for the moment, TikTok is emerging as their preferred place to do that.

Khodasevich, the food blogger, thinks TikTok can replace Twitter as a platform of choice for the opposition in Russia.

“Thanks to its clever algorithms, TikTok can show your video to a bigger audience than YouTube or Instagram, even if you don’t pay for promotion,” he said in an interview. “TikTok representatives told me political videos without direct calls for protests will not get banned.’’

It means that, with a bit of creativity — and a very heavy dose of opportunism and cynicism — both sides might still be able push forward with their political agenda. Boris Kantorovitch agrees.

“Authorities will change their strategy and become more subtle,” he said. “They acted in haste. Probably they thought of TikTok as a good breeding ground for loyalists. Now, the only way to stop people talking about politics on TikTok is by banning access to this platform.’’

Or, if you can’t beat them, join them? The last few days have seen government organizations the Ministry of Foreign Affairs and the Ministry of Emergency Situations joining the platform to give the public a glimpse into how they, too, can roll with it.

@mchs.russiaВы только посмотрите, что могут наши сотрудники! Отправляйте свою реакцию в комментариях!Спасибо за предоставленное видео @@anatoly.doletsky♬ оригинальный звук – МЧС России

Some of the content is not exactly subtle — the Foreign Affairs almost immediately used its new account to post a TikTok discrediting Navaly — but more generally, these are signs that the government is all too aware of the impact the platform is having to galvanize people against it, and it’s trying various things to fight that.

So did TikTok really manage to bring a considerable number of young people to rallies? Are we witnessing a birth of a new protest movement or yet another example of one click activism?

According to a poll conducted on 23 January by TV Rain in Moscow, 44% percent of protesters took to the streets for the first time ever. Only 10% of respondents were under the age of 18, with an average age of protesters hovering around 31 years old, showing an overlap with the audience using TikTok in the country.

Other major movements (such as last year’s run of BLM activism) point to 18-34 being the biggest age demographic among protestors (albeit, worth noting strong participation among other ages, too). With that in mind, it seems that both authorities and opposition in Russia will try to use the social media platforms most popular among that age group to recruit their new foot soldiers.

Of course, as with everything on social media, Khodasevich added, it’s sometimes hard to figure out everyone’s actual agenda. Some political posts are genuine, some could be attributed to “news jacking.” But ultimately, they are sparking a lot of attention that the government is now mobilizing to counteract.

And with another critical Navalny hearing coming up on February 15th, as well as the September 2021 state Duma elections being only months away, the stakes are high for whatever political battles come next.



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miércoles, 10 de febrero de 2021

Insight launches a customizable iOS browser with support for extensions

A new startup called Insight is bringing web browser extensions to the iPhone, with the goal of delivering a better web browsing experience by blocking ads and trackers, flagging fake reviews on Amazon, offering SEO-free search experiences, or even calling out media bias and misinformation, among other things.

These features are made available by way of Insight’s extensions, some of which are suggested during the app’s first launch. Others, meanwhile, can be browsed inside the app, where they’re organized into categories like Search, Shopping, Cooking & Dining, News, Health, and Reading. The browser can also make suggestions of extensions to try, based on your browsing behavior, if you opt into that experience.

One extension, for example, can block ads on Google, Amazon and in your social media feeds, like Twitter, Facebook, and Reddit. Another works with ReviewMeta to detect fake reviews on Amazon.com and lets you set price alerts with help from CamelCamelCamel’s price tracker. Others let you do things like enable dark mode experiences on sites that don’t offer the feature, check for bias in news via Media Bias Fact Check, or watch videos in picture-in-picture mode on YouTube and other video sites.

Image Credits: Insight

In total, the company has around one hundred extensions already created, but it offers tools that allow anyone — even non-developers — to create their own, too.

Using a simple interface similar to something like the iOS Shortcuts app, users can define the conditions for their extension using basic “if, then” logic. For example, “if I’m is on a page that matches this URL” or “is on this list of domains,” “then also show this other page.”

To make these sorts of features work on mobile took some creativity. Apple restricts what developers are able to do with WKWebView — which means a mobile browser can’t offer the same sort of extensions as you can find on the desktop web.

To work around this problem, Insight created a sort of “sub-tab” workflow where you navigate using swiping gestures. For example, when online shopping, you could view the product you’re interested in, then swipe over to see the available coupons, the trusted product reviews, or to comparison shop across other sites.

When looking for a recipe, you could limit searches to only a list of your favorite food blogs. And because you can use extensions together, you could also block the ads on the food blogs and then swipe over to view the site in a “reader mode.”

Image Credits: Insight

How this all works is up to you. It’s dependent on what extensions you have installed and enabled, and how they’re configured.

The idea for Insight actually arose from an earlier effort from a startup focused on building a custom search engine for doctors. The team had participated in Y Combinator’s winter 2019 session, where they developed a search engine that would filter out the junk medical content and other pages aimed at consumers from the web, in order to direct doctors to sources they could trust.

But things changed when the COVID-19 pandemic hit.

“A lot of the users we had been working with, up to that point, were medical students. And when the pandemic came to the U.S., medical students and medical schools were shut down and a lot of the students were sent home,” explains Insight co-founder and CEO Archa Jain. “Our user base disappeared overnight,” she said.

The team decided to refocus their efforts on another idea they had been tossing around internally for some time.

“We realized that the problem we were solving isn’t medicine-specific. The fundamental problem was that the internet is just not one-size-fits-all. So we thought, what if everyone could have this lability to customize their browser experience the way we’re doing for this one population? They could really mould their browser their own needs,” Jain said.

That’s how Insight came to life.

Insight was built by a small team, including Jain, whose engineering background includes time at Google, Uber and Calico, and fellow co-founders Abhinav Sharma, previously of Quora, Mozilla Labs, and Facebook, and Shubhi Nigam, previously a PM at Newgen Software.

The company is backed by a seed round of $1.5 million from Y Combinator, Heartcore Capital and Altair Capital.

Longer-term, Insight intends to layer on a pro version of the service on top of the existing offering available today. It also aims to bring the browser to the desktop, where it will work as an extension itself.

Since launching into beta testing in December 2020, the app’s top 10% most active users have been averaging over 1,000 pageviews on Insight per day, which indicates some loyal customers have perhaps shifted to using the app as their preferred mobile browser. Pre-launch, the app had also become the No. 1 most popular download for a time on Airport, an app store for beta products.

Insight is available today as a free download on the App Store.



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Labster gets millions from a16z to bring virtual science lab software to the world

Andreessen Horowitz, a venture capital firm with $16.5 billion in assets under management, has poured millions into an edtech startup that sells virtual STEM lab simulations to institutions.

Copenhagen-based Labster, which sells virtual science laboratory simulations to schools, announced today that it has raised $60 million in a Series C round led by the prominent Silicon Valley firm, including participation from existing investors GGV Capital, Owl Ventures and Balderton Capital. Labster has now raised $100 million in total known venture capital to date.

Like many edtech companies, Labster has found itself centered and validated as the pandemic underscores the need for remote work. In April, Labster signed a contract to bring its services to the entire California Community College network, which includes more than 2.1 million students. Months later, the startup brought on $9 million in equity funding to bring GGV’s Jenny Lee onto the board and expand its Asia operations.

“A16z is very excited about investing in technology companies that have a big impact and potential to become massive global successes’,” CEO and co-founder Michael Bodekaer Jensen said. “The fact that Labster is a platform innovating learning at scale is really what attracted them.”

The new capital will help Labster increase its staff, grow into new regions that include Latin America and Africa, as well as invest in new product development to better support teachers.

Jensen says that today’s raise, which is singularly larger than any capital Labster has raised prior, “dramatically increased” the valuation of the company. Jensen did confirm that Labster has not yet hit the $1 billion mark in terms of valuation, nor did he comment on whether the startup had hit profitability or not.

What Jensen did share, though, is that he thinks Labster’s new capital brings the startup one step closer to two big goals: serve 100 million students in the next few years, and become a platform to “enable anyone in the world to customize and build their own simulations on their platform.”

“We’re not a content company,” the co-founder said. “We’re a platform for immersive learning.”

Currently, Labster sells its e-learning solution to support and enhance in-person courses. Based on the subscription an institution chooses, participants can get differing degrees of access to a virtual laboratory. Imagine a range of experiments, from understanding bacterial growth and isolation to exploring the biodiversity of an exoplanet. Along with each simulation, Labster offers 3D animations for certain concepts, re-plays of simulations, quiz questions and a virtual learning assistant.

Image Credits: Labster

Jensen is hinting that the startup might finally be able to move past pre-determined learning tracks and into the world of customizable immersive learning. Other startups, including Inspirit, are also aiming to bring the creativity associated with games such as Minecraft or Roblox to the day-to-day schoolwork of students around the world.

With platform ambition, Labster is pausing its virtual reality efforts, which requires acquiring headsets at scale.

“VR is good for learning, but we need to make sure that we understand and provide services and solutions that work with the hardware that institutions already have and are available,” he said, adding that many institutions have been unable to afford headsets for all students. The fact that Labster is stepping away from virtual reality and framing itself as an immersive learning environment is more than a branding decision, but suggests that the future of scalable edtech might look less like goggles and more like a customizable web page.

“In the early days there was definitely a little naïve entrepreneurial mindset to build it and suddenly all teachers will come,” Jensen said. “[VR] was in no way as revolutionary as we hopped and thought of.”

New investments for the startup include Labster Portal, which is a dashboard for teachers to understand how individual students are using the immersive simulations and what lessons make sense to embed together. The company is also focused on landing partnerships with institutions, on either a country or state-wide level or district-level. Jensen says that the bigger the contract, the bigger the discount because it saves them money on onboarding costs. Labster recently signed a deal to bring its technology to the entire country of Denmark.

Labster currently has more than 2,000 colleges, universities and high schools on its platform.

“Post-COVID, the growth will slow,” Jensen said. “When we have conversations with institutions we are increasingly talking about post-COVID and continuing how we can further use Labster in new and innovative ways.”



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martes, 9 de febrero de 2021

New York’s David Energy has raised $4.1 million to ‘build the Standard Oil of renewable energy’

“We intend to build the Standard Oil of renewable energy,” said James McGinniss, the co-founder and chief executive of David Energy, in a statement announcing the company’s new $19 million seed round of debt and equity funding. 

McGinniss’ company is aiming to boost renewable energy adoption and slash energy usage in the built environment by creating a service that operates on both sides of the energy marketplace.

The company combines energy management services for commercial buildings through the software it has developed with the ability to sell energy directly to customers in an effort to reduce the energy consumption and the attendant carbon footprint of the built environment.

The company’s software, Mycor, leverages building demand data and the assets that the building has at its disposal to shift user energy consumption to the times when renewable power is most available, and cheapest. 

It’s a novel approach to an old idea of creating environmental benefits by reducing energy consumption. Using its technology, David Energy tracks both the market price of energy and the energy usage by the buildings it manages. The company sells energy to customers at a fixed price and then uses its windows into energy markets and energy demand to make money off of the difference in power pricing.

That’s why the company needed to raise $15 million in a monthly revolving credit facility from Hartree Partners. So it could pay for the power its customers have bought upfront.

Image Credit: Getty Images

There are a number of tailwinds supporting the growth of a business like David Energy right now. Given the massive amounts of money that are being earmarked for energy conservation and energy efficiency upgrades, companies like David, which promise to manage energy consumption to reduce demand, are going to be huge beneficiaries.

“Looking at the macro shift and the attention being paid to things like battery storage and micro grids we do feel like we’re launching this at the perfect time,” said McGinniss. “We’re offering [customers] market rates and then rebating the savings back to them. They’re getting the software with a market energy supply contract and they are getting the savings back. It’s is bringing that whole bundled package together really brings it all together.”

In addition to the credit facility, the company also raised $4.1 million in venture financing from investors led by Equal Ventures and including Operator Partners, Box Group, Greycroft, Sandeep Jain and Xuan Yong of RigUp, returning angel investor Kiran Bhatraju of Arcadia, and Jason Jacobs’ recently launched My Climate Journey Collective, an early-stage climate tech fund. 

“Renewable energy generators are fundamentally different in their variable, distributed, and digitally-native nature compared to their fossil fuel predecessors while customer loads like heating and driving are shifting to electricity consumption from gas. The sands of market power are shifting and incumbents are poorly-positioned to adapt to evolving customer needs, so there’s a massive opportunity for us to capitalize.” 

Founded by McGinniss, Brian Maxwell and Ahmed Salman, David Energy raised $1.5 million in pre-seed financing back in March 2020.

As the company expands, its relationship with Hartree, an energy and commodities trading desk, will become even more important. As the startup noted, Hartree is the gateway that David needs to transact with energy markets. The trader provides a balance sheet for working capital to purchase energy on behalf of David’s customers.

 

“Renewables are causing fundamental shifts in energy markets, and new models and tools need to emerge,” said Dinkar Bhatia, Co-Head of North American Power at Hartree Partners. “James and the team have identified a significant opportunity in the market and have the right strategy to execute. Hartree is excited to be a commodity partner with David Energy on the launch of the new smart retail platform and is looking forward to helping make DE Supply the premier retailer in the market.”

David now has retail electricity licenses in New York, New Jersey, and Massachusetts and is looking to expand around the country.

“David energy stands to reinvent the way that hundreds of billions of dollars a year in energy are consumed,” said Equal Ventures investor Rick Zullo. “Business model creativity and finding ways to change user behavior with new models is just as important if not more important than the technology innovation itself.”

Zullo said his firm pitched David Energy on leading the round after years of looking for a commercial renewable energy startup. The core insight was finding a service that could appeal not to the new construction that already is working with top-of-the-line energy management systems, but with the millions of square feet that aren’t adopting the latest and greatest energy management systems.

“Finding something that will go and bring this to the mass market was something we had been on the hunt for really since the inception of Equal Ventures,” said Zullo.

The innovation that made David attractive was the business model. “There is a landscape of hundreds of dead companies,” Zullo said. “What they did was find a way to subsidize the service. They give away at low or no cost and move that in with line items. The partnership with Partree gives them the opportunity to be the cheapest and also the best for you and the highest margin regional energy provider in the market.”



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viernes, 5 de febrero de 2021

Extra Crunch roundup: 500 Startups’ demo day, smart SaaS pricing and much more

Demo days at startup accelerators are a pretty big deal around here.

These events aren’t just a chance to review the latest cohort of hopeful entrepreneurs — they also showcase the technology, products and services that will compete for VC and consumer attention over the next few years.

You never know where a hit will come from, which is why these events capture our attention. Here’s just one example from Y Combinator’s Summer 2013 Demo Day:

Positioning itself as the “FedEx of today,” it hopes to provide a logistics framework that goes beyond food and can be used for any type of on-demand order.

That startup was DoorDash, by the way.


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Full disclosure: In 2016, I was 500 Startups’ Journalist-in-residence. I covered one demo day in person, spending most of my time backstage where founder teams practiced their pitches.

It was quite a scene: Several people literally jumped up and down to shake off their nervous energy, but I also recall one who calmly recited their lines while gazing through a window.

Yesterday, Jon Shieber and Alex Wilhelm covered 500 Startups’ 27th virtual demo day and selected eight companies as their favorites:

  • Stack
  • Adapty
  • MightyFly
  • Omnitron Sensors
  • AWSM
  • Memechat
  • Ryu Games
  • Apothecary

Thank you very much for reading Extra Crunch this week! I hope you have a safe, relaxing weekend.

Walter Thompson
Senior Editor, TechCrunch
@yourprotagonist

TechCrunch’s favorite companies from 500 Startups’ latest demo day

Chick hatching from egg on egg tray

Image Credits: David Malan (opens in a new window) / Getty Images

How the GameStop stonkathon helped Robinhood raise $3.4B last week

I’ve never used “stonkathon” in a headline before, but it’s been that kind of week.

The war between hedge funds and day traders over GameStop vaulted discount trader Robinhood into the headlines for days.

But how did it affect the company’s financial health?

This morning, Alex Wilhelm examined why Robinhood’s investors were willing to inject $3.4 billion more into the company in just one week.

“More trades means more PFOF (payment for order flow) revenue,” says Alex. “And Robinhood effectively doubled in size.”

Udemy’s new president discusses the reskilling company’s future

Electronic signature on laptop. Business Esignature technology, digital form attached to electronically transmitted document, verification of intent to sign agreement, legal deal. Vector illustration

Image Credits: Andrew_Rybalko / Getty Images

Reporter Natasha Mascarenhas interviewed Greg Brown, new president of digital learning platform Udemy, after his company announced that it surpassed $100 million ARR.

A new arm of the company, Udemy for Business, just secured a 100,000-employee contract with Cisco Systems to offer software, business and technology courses.

“The opportunity that the company sees has really forced us to reallocate resources and strategy,” said Brown.

Why one Databricks investor thinks the company may be undervalued

After scaling its ARR to $425 million and reaching a valuation of $28 billion, data analytics company Databricks is clearly IPO-ready.

Battery Ventures has backed Databricks since 2017, so Alex Wilhelm interviewed General Partner Dharmesh Thakker to understand why he thinks the company may be undervalued.

“Whether it’s digital transformation, whether it’s analytics, data is everywhere,” said Thakker. “So the TAM is massive.”

4 strategies for deep tech founders who are fundraising

Laser Light Interrupted by Unfolded Book Shape of Paper.

Image Credits: MirageC (opens in a new window) / Getty Images

Deep tech founders face special challenges when pitching investors: they usually don’t have a product, customers or revenue.

It’s difficult enough to ask a stranger for a check when there’s a beta product, but how do you drum up interest in an unproven idea that may exist largely in your imagination?

“Early-stage investors are in the business of funding dreams,” says angel investor Jessica Li.

“Investors are less interested in the intricacies of your technology and more interested in what impact it can create.”

Step one: use storytelling to highlight your big vision.

Edtech valuations aren’t skyrocketing, but investors see more exit opportunities

Above view of mom working on the laptop computer while her daughter reading the e-learning resources on the digital tablet in the workspace at home

Image Credits: Images by Tang Ming Tung (opens in a new window) / Getty Images

Investors funded edtech startups with $10 billion last year as the pandemic forced widespread adoption of remote learning.

The valuations of these companies aren’t rising at the same rate as SaaS or fintech startups, but “where edtech lacks in impressive valuations, investors see it gaining in exit opportunities,” writes Natasha Mascarenhas.

For this edtech investor survey, she interviewed:

  • Deborah Quazzo, managing partner, GSV Ventures (an education fund backing ClassDojo, Degreed and Clever)
  • Ashley Bittner, founding partner, Firework Ventures (a future-of-work fund with portfolio companies LearnIn and TransfrVR)
  • Jomayra Herrera, principal, Cowboy Ventures (a generalist fund with portfolio companies Hone and Guild Education)
  • John Danner, managing partner, Dunce Capital (an edtech and future-of-work fund with portfolio companies Lambda School and Outschool)
  • Mercedes Bent and Bradley Twohig, partners, Lightspeed Venture Partners (a multistage generalist fund with investments including Forage, Clever and Outschool)
  • Ian Chiu, managing director, Owl Ventures (a large edtech-focused fund backing highly valued companies including BYJU’s, Newsela and MasterClass)
  • Jan Lynn-Matern, founder and partner, Emerge Education (a leading edtech seed fund in Europe with portfolio companies like Aula, Unibuddy and BibliU)
  • Benoit Wirz, partner, Brighteye Ventures (an active edtech-focused venture capital fund in Europe that backs YouSchool, Lightneer and Aula)
  • Charles Birnbaum, partner, Bessemer Venture Partners (a generalist fund with portfolio companies including Guild Education and Brightwheel)
  • Daniel Pianko, co-founder and managing director, University Ventures (a higher-ed and future-of-work fund that is backing Imbellus and AdmitHub)
  • Rebecca Kaden, managing partner, Union Square Ventures (a generalist fund with portfolio companies including TopHat, Quizlet and Duolingo)
  • Andreata Muforo, partner, TLcom Capital (a generalist fund backing uLesson)

Deep Science: AIs with high class and higher altitudes

Artificial Intelligence digital concept

Image Credits: MF3d (opens in a new window) / Getty Images

In his latest recap of recent breakthroughs in applied science, Devin Coldewey looked at how researchers are using AI to:

  • Categorize thousands of pieces of classical music
  • Read MRIs to spot patients with schizophrenia
  • Track elephant herds via satellite
  • Improve accessibility on mobile phones

Spotify Group Session UX teardown: the fails and their fixes

London, UK - July 31, 2018: The buttons of the music streaming app Spotify, surrounded by Podcasts, Apple Music, Facebook and other apps on the screen of an iPhone.

Image Credits: Getty Images

In the latest of a series of articles that examines user experiences for consumer apps, UX expert Peter Ramsey and TechCrunch reporter Steve O’Hear studied Spotify Group Session, the shared-queue feature that permits users to create playlists collaboratively.

“Many of these lessons can be applied to other existing digital products or ones you are currently building,” such as the need to add context for important decisions and how to best use “react and explain” prompts.

Lightspeed’s Gaurav Gupta and Grafana’s Raj Dutt discuss pitch decks, pricing and how to nail the narrative

Gaurav Gupta, Lightspeed Venture Partners + Raj Dutt, Grafana Labs

Extra Crunch Live returned this week with two guests: Lightspeed Venture Partners’ Gaurav Gupta and Raj Dutt, co-founder and CEO of Grafana Labs.

In addition to walking us through the presentation that encouraged Lightspeed to invest in Grafana’s Series A, the duo also gave direct feedback to audience members about their pitch decks.

Watch a video with our complete episode, or read highlights from the chat to get Gupta and Dutt’s insights on what goes into a successful pitch deck.

New episodes of Extra Crunch Live drop each Wednesday at 12 p.m. PST/3 p.m. EST/8 p.m. GMT.

Here’s a breakdown of the complete episode with Gaurav Gupta and Raj Dutt:

  • How they met — 2:00
  • Grafana’s early pitch deck — 12:00
  • The enterprise ecosystem — 25:00
  • The pitch deck teardown — 32:00

Subscription-based pricing is dead: Smart SaaS companies are shifting to usage-based models

paper plane made from a ten dollar bill

Paper plane made from a ten-dollar bill. Image Credits: LockieCurrie (opens in a new window)/ Getty Images

Some IT managers may still be debating the merits of usage-based pricing versus subscription-based models, but SaaS investors have made up their minds.

Compared to their rivals, companies that employ usage-based pricing trade at a 50% revenue multiple premium. You can argue with success, but seven out of the nine IPOs since 2018 with the best net dollar retention offer usage-based models.

If you’re a founder who hopes to break into the $100M ARR club, this guest post can help you identify the right usage metrics for creating a sustainable customer journey.

For more actionable advice regarding SaaS pricing and sales, see these previously published Extra Crunch stories:

Bumble IPO could raise more than $1B for dating service

How many dating networks can the public market support?

In Tuesday’s column, Alex Wilhelm examined the latest IPO filing from relationship-finding service Bumble.

The company set a range of $28 – $30 per share, so Alex set out to find its simple and diluted valuations, how much it expects investors to pay and “how those stack up compared to Match Group’s own numbers.”

Robinhood’s Q4 2020 revenue shows a return to growth

Discount brokerage Robinhood stayed in the news last week as it became a proxy battlefield for institutional and retail investors, but its backers “put in another billion just last week,” says Alex Wilhelm.

Why were investors so bullish after days of screaming headlines?

In yesterday’s column, Alex unpacked Robinhood’s Q4 2020 numbers, “which shows a return to sequential-quarterly growth at the trading upstart.”

Trading app Public drops payment for order flow in favor of tips

close up of man hand with digital tablet analyzing stock market graph at night

Image Credits: Towfiqu Photography / Getty Images

Before Redditors came after GameStop, zero-cost trading service Public says it was seeing “steady ~30%” month-over-month growth.

Last week, however, “new user signups went up 20x,” founders Leif Abraham and Jannick Malling told TechCrunch.

After closing a $65 million Series C, Public announced yesterday that it would “stop participating in the practice of Payment for Order Flow,” replacing PFOF with an “optional tipping feature.”

Customer advisory boards are a gold mine for startup brand champions

People figures with comment clouds above their heads. Commenting on feedback, participation in discussion. Brainstorming, fresh new ideas. Communication in civil society. Cooperation and Collaboration (People figures with comment clouds above their he

Image Credits: Andrii Yalanskyi (opens in a new window) / Getty Images

Startups that don’t directly engage their earliest customers with purpose and intention are leaving money on the table.

Creating a Customer Advisory Board (CAB) is a proven method for soliciting product ideas, testing marketing plans and turning early users into loyal brand advocates.

Before you call a CAB, read this post to find out how to identify customers who’ll contribute real insights, establish goals and “pick members who play well together.”

Best practices as a service is a key investment theme to watch in 2021

Red and white stop sign on the wall. Image Credits: Karl Tapales (opens in a new window)/ Getty Images

Identity and access management company Okta announced in a study last week that its largest customers use an average of 175 different applications to manage their operations.

Managing Editor Danny Crichton says this “explosion of creativity and expressiveness and operational latitude” offers widespread benefits, but it’s “also a recipe for disaster,” since many end users aren’t well-trained when it comes to using these tools.

This enterprise version of the Tower of Babel creates an opening for companies that offer “best practices as a service,” says Danny. “The next generation of SaaS software has to take those abecedarian building blocks and forcibly guide users to using those tools in the best possible way.”



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