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Saturday, November 16, 2019

This Week in Apps: Apple’s vaping app ban, Disney+ gets installed, apps gear up for Black Friday

{rss:content:encoded} This Week in Apps: Apple’s vaping app ban, Disney+ gets installed, apps gear up for Black Friday https://ift.tt/2Qr502u https://ift.tt/33PsjH8 November 16, 2019 at 04:41PM

Welcome back to This Week in Apps, the Extra Crunch series that recaps the latest OS news, the applications they support, and the money that flows through it all. What are developers talking about? What do app publishers and marketers need to know? How are politics impacting the App Store and app businesses? And which apps are everyone using?

As mid-November rolls around, we’re looking at a few big stories, including Apple’s decision to ban an entire category of apps due to health concerns, the launch of Disney+ from an app perspective, what Black Friday will mean for e-commerce apps, and more.

Fast Facts

With Disney+’s huge launch (10+ million users!) on everyone’s minds, it’s time to think about what these streaming newcomers mean for the overall landscape and the app stores. In this case, it seems that Disney+’s user base was highly mobile. The company itself announced more than 10 million users, while data on the Disney+ app’s first few days indicates it now has over 10 million downloads. It seems like consumers definitely want to take their new streaming service with them everywhere they go.

  • In 2020, App Annie forecasts consumers will spend more than 674 billion hours in the Entertainment and Video Player and Editor categories worldwide on Android phones, up from an expected 558 billion hours in 2019. Thanks to Disney+, Apple TV+ and soon, HBO Max, Peacock and Quibi, to making the landscape both richer and more complicated.
  • On its launch day, Disney+ hit #1 by iPhone Overall downloads at 8 AM in the U.S. and at 11 AM in Canada — an indication of the ability that strong IP has can really excite consumers to come out in droves. (Unfortunately, that led to some launch day glitches, too.)
  • Apptopia estimated Disney+ was downloaded 3.2 million times in its first 24 hours. The firm also estimated users collectively spent 1.3 million hours watching Disney+ on day one — ahead of Amazon Prime Video, but well behind Netflix.

  • Sensor Tower waited to collect a little more data instead. It found that the Disney+ app was installed approximately 9.6 million times in all available markets (the U.S., Canada, and the Netherlands), since its U.S. launch on Tuesday, Nov. 12. For comparison’s sake, HBO Now’s U.S. launch only saw 180,000 installs in its first three days — or 2% of the Disney+ total. Combined with the test period installs in the Netherlands, the app has now been installed over 10 million times.
  • The hype around Disney+ has had a halo effect. Hulu and ESPN, which were offered in a bundle with Disney+, also grew as a result of the Disney+ launch. Sensor Tower found combined users of the apps in the U.S. and Canada were up 30% in the past week over the week prior.

Headlines

Apple removed all vaping apps from the App Store, citing CDC health concerns

The CDC says 42 people have died due to vaping product use and thousands more cases of lung injuries have been reported from 49 states. Now, Apple has made the controversial decision to remove all 181 vaping-related apps from its App Store — including those with news and information about vaping and even vaping-related games, Axios reported this week.

Some say Apple is helping to protect kids and teens by limiting their exposure to e-cigarette and vaping products, which are being used to addict a younger generation to nicotine and cause serious disease. Others argue that Apple is over-reaching. After all, many of the lung illnesses involve people who were vaping illegally obtained THC, studies indicated.

This isn’t the first time Apple has banned a category of apps because of what appear to be moral concerns. The company in the past had booted apps that promoted weed or depicted gun violence, for example. In the case of vaping apps, Apple cited the public health crisis and youth epidemic as contributing factors, telling Axios that:

We take great care to curate the App Store as a trusted place for customers, particularly youth, to download apps. We’re constantly evaluating apps, and consulting the latest evidence, to determine risks to users’ health and well-being. Recently, experts ranging from the CDC to the American Heart Association have attributed a variety of lung injuries and fatalities to e-cigarette and vaping products, going so far as to call the spread of these devices a public health crisis and a youth epidemic. We agree, and we’ve updated our App Store Review Guidelines to reflect that apps encouraging or facilitating the use of these products are not permitted. As of today, these apps are no longer available to download.

Existing users will still be able to use their apps, but new users will not be able to download the banned apps going forward.

Minecraft Earth arrives 

Minecraft Earth launched early last week across 9 countries on both Android and iOS and now it’s come to the U.S., Canada, the U.K., and several other markets. Some expect the app will rival the success of the AR breakout hit, Pokémon Go, which was thought at the time to be the precursor to a new wave of massive AR gaming titles. But in reality, that didn’t happen. The highly anticipated follow-up from Niantic, Harry Potter: Wizards Unite didn’t come close to competing with its predecessor, generating $12 million in its first month, compared with Pokémon Go’s first-month earnings of $300 million. With Minecraft Earth now sitting at No. 2 (c’mon, you can’t unseat Disney+) on the U.S. App Store, it seems there’s potential for another AR kingpin.

App Annie releases a user acquisition playbook

A top name in App Store intelligence, App Annie this week released a new how-to handbook focused on user acquisition strategies on mobile. Sure the free download is just a bit of lead gen for App Annie, but the guide promises to fill you in on all you need to know to be successful in acquiring mobile users. The playbook’s arrival follows App Annie’s acquisition of adtech insights firm Libring this fall, as it expands to cover more aspects of running an app business. Just as important as rankings and downloads are the very real costs associated with running an app business — including the cost of acquiring users.

Friday, November 15, 2019

Facebook’s Libra code chugs along ignoring regulatory deadlock

“5 months and growing strong” the Libra Association announced today in an post about its technical infrastructure that completely omits the fierce regulatory backlash to its cryptocurrency.

40 wallets, tools, and block explorers plus 1,700 Github commits have how now been built on its blockchain testnet that’s seen 51,000 mock transactions in the past two months. Libra nodes that process transactions are now being run by Coinbase, Uber, BisonTrails, Iliad, Xapo, Anchorage, and Facebook’s Calibra. Six more nodes are being established, plus there are 8 more getting set up from members who lack technical teams, meaning all 21 members have nodes running or in the works.

But the update on the Libra backend doesn’t explain how the association plans to get all the way to its goal of 100 members and nodes by next year when it originally projected a launch. And it gives no nod to the fact that even if Libra is technically ready to deploy its mainnet in 2020, government regulators in the US and around the world still won’t necessarily let it launch.

Facebook itself seems to be hedging its bets on fintech in the face of pushback against Libra. This week it began the launch of Facebook Pay, which will let users pay friends, merchants, and charities with a single payment method across Facebook, Messenger, WhatsApp, and Instagram.

Facebook Pay could help the company drive more purchases on its platform, get more insights into transactions, and lead merchants to spend more on ads to lure in sales facilitated by quicker payments. That’s most of what Facebook was trying to get out of Libra in the first place, beyond better financial inclusion.

Last month’s congressional testimony from Facebook CEO Mark Zuckerberg was less contentious than Libra board member David Marcus’ appearances on Capitol Hill in July. Yet few of lawmakers’ core concerns about how Libra could facilitate money laundering, endanger users’ assets, and give Facebook even more power amidst ongoing anti-trust investigations were assuaged.

This set of announcements from the Libra Core summit of technical members was an opportunity for the project to show how it was focused on addressing fraud, security, and decentralization of power. Instead, the Libra Association took the easy route of focusing on what the Facebook-led development team knows best: writing code, not fixing policy. TechCrunch provided questions to the Libra Association and some members but the promised answers were not returned before press time.

For those organizations without a technical team to implement a node, the Libra Association is working on a strategy to support deployment in 2020, when the Libra Core feature set is complete” the Association’s Michael Engle writes. “The Libra Association intends to deploy 100 nodes on the mainnet, representing a mix of on-premises and cloud-hosted infrastructure.” It feels a bit like Libra is plugging its ears.

Having proper documentation, setting up CLAs to ease GitHub contributions, standardizing the Move code language, a Bug Bounty program, and a public technical roadmap are a good start. But until the Association can answers Congress’ questions directly, they’re likely to refuse Libra approval which Zuckerberg said the project won’t launch without.



from Social – TechCrunch https://ift.tt/2NUe7Y5 Facebook’s Libra code chugs along ignoring regulatory deadlock Josh Constine https://ift.tt/2CQUU2M
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Daily Crunch: TikTok starts experimenting with commerce

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here.

1. TikTok tests social commerce

The short-form video app said it’s allowing some users to add links to e-commerce sites (or any other destination) to their profile, while also offering creators the ability to easily send their viewers to shopping websites.

On their own, these changes might not sound that dramatic, and parent company ByteDance characterizes them as experiments. But it could eventually lead TikTok to become a major force in commerce — and to follow the lead of Instagram, where “link in bio” has become one of the most common promotional messages.

2. Despite bans, Giphy still hosts self-harm, hate speech and child sex abuse content

A new report from Israeli online child protection startup L1ght  has uncovered a host of toxic content hiding within the popular GIF-sharing community, including illegal child abuse content, depictions of rape and other toxic imagery associated with topics like white supremacy and hate speech.

3. Lyft is ceasing scooter operations in six cities and laying off 20 employees

Lyft notified employees today that it’s pulling its scooters from six markets: Nashville, San Antonio, Atlanta, the Phoenix area, Dallas and Columbus. A spokesperson told us, “We’re choosing to focus on the markets where we can have the biggest impact.”

4. Takeaways from Nvidia’s latest quarterly earnings

After yesterday’s earnings report, Wall Street seems to have barely budged on the stock price — everyone’s waiting for resolution on some of the key questions facing the company. (Extra Crunch membership required.)

5. Virgin Galactic begins ‘Astronaut Readiness Program’ for first paying customers

The program is being run out of the global headquarters of Under Armour, Virgin Galactic’s partner for its official astronaut uniforms. The training, with instruction from Chief Astronaut Instructor Beth Moses and Chief Pilot Dave Mackay, is required for all Virgin Galactic passengers.

6. AWS confirms reports it will challenge JEDI contract award to Microsoft

In a statement, an Amazon spokesperson suggested that there was possible bias in the selection process: “AWS is uniquely experienced and qualified to provide the critical technology the U.S. military needs, and remains committed to supporting the DoD’s modernization efforts.”

7. SoftBank Vision Fund’s Carolina Brochado is coming to Disrupt Berlin

At SoftBank’s Vision Fund, Brochado focuses on fintech, digital health and marketplace startups. Some of her past investments with both Atomico and SoftBank include LendInvest, Gympass, Hinge Health, Ontruck and Rekki.



from Social – TechCrunch https://ift.tt/2CoAoqu Daily Crunch: TikTok starts experimenting with commerce Anthony Ha https://ift.tt/2KpYPrL
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Daily Crunch: TikTok starts experimenting with commerce

{rss:content:encoded} Daily Crunch: TikTok starts experimenting with commerce https://ift.tt/2KpYPrL https://ift.tt/2CoAoqu November 15, 2019 at 09:20PM

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here.

1. TikTok tests social commerce

The short-form video app said it’s allowing some users to add links to e-commerce sites (or any other destination) to their profile, while also offering creators the ability to easily send their viewers to shopping websites.

On their own, these changes might not sound that dramatic, and parent company ByteDance characterizes them as experiments. But it could eventually lead TikTok to become a major force in commerce — and to follow the lead of Instagram, where “link in bio” has become one of the most common promotional messages.

2. Despite bans, Giphy still hosts self-harm, hate speech and child sex abuse content

A new report from Israeli online child protection startup L1ght  has uncovered a host of toxic content hiding within the popular GIF-sharing community, including illegal child abuse content, depictions of rape and other toxic imagery associated with topics like white supremacy and hate speech.

3. Lyft is ceasing scooter operations in six cities and laying off 20 employees

Lyft notified employees today that it’s pulling its scooters from six markets: Nashville, San Antonio, Atlanta, the Phoenix area, Dallas and Columbus. A spokesperson told us, “We’re choosing to focus on the markets where we can have the biggest impact.”

4. Takeaways from Nvidia’s latest quarterly earnings

After yesterday’s earnings report, Wall Street seems to have barely budged on the stock price — everyone’s waiting for resolution on some of the key questions facing the company. (Extra Crunch membership required.)

5. Virgin Galactic begins ‘Astronaut Readiness Program’ for first paying customers

The program is being run out of the global headquarters of Under Armour, Virgin Galactic’s partner for its official astronaut uniforms. The training, with instruction from Chief Astronaut Instructor Beth Moses and Chief Pilot Dave Mackay, is required for all Virgin Galactic passengers.

6. AWS confirms reports it will challenge JEDI contract award to Microsoft

In a statement, an Amazon spokesperson suggested that there was possible bias in the selection process: “AWS is uniquely experienced and qualified to provide the critical technology the U.S. military needs, and remains committed to supporting the DoD’s modernization efforts.”

7. SoftBank Vision Fund’s Carolina Brochado is coming to Disrupt Berlin

At SoftBank’s Vision Fund, Brochado focuses on fintech, digital health and marketplace startups. Some of her past investments with both Atomico and SoftBank include LendInvest, Gympass, Hinge Health, Ontruck and Rekki.

Three of Apple and Google’s former star chip designers launch NUVIA with $53M in series A funding

Silicon is apparently the new gold these days, or so VCs hope.

What was once a no-go zone for venture investors, who feared the long development lead times and high technical risk required for new entrants in the semiconductor field, has now turned into one of the hottest investment areas for enterprise and data VCs. Startups like Graphcore have reached unicorn status (after its $200 million series D a year ago) while Groq closed $52M from the likes of Chamath Palihapitiya of Social Capital fame and Cerebras raised $112 million in investment from Benchmark and others while announcing that it had produced the first trillion transistor chip (and who I profiled a bit this summer).

Today, we have another entrant with another great technical team at the helm, this time with a Santa Clara, CA-based startup called NUVIA. The company announced this morning that it has raised a $53 million series A venture round co-led by Capricorn Investment Group, Dell Technologies Capital, Mayfield, and WRVI Capital, with participation from Nepenthe LLC.

Despite only getting started earlier this year, the company currently has roughly 60 employees, 30 more at various stages of accepted offers, and the company may even crack 100 employees before the end of the year.

What’s happening here is a combination of trends in the compute industry. There has been an explosion in data and by extension, the data centers required to store all of that information, just as we have exponentially expanded our appetite for complex machine learning algorithms to crunch through all of those bits. Unfortunately, the growth in computation power is not keeping pace with our demands as Moore’s Law slows. Companies like Intel are hitting the limits of physics and our current know-how to continue to improve computational densities, opening the ground for new entrants and new approaches to the field.

Finding and building a dream team with a “chip” on their shoulder

There are two halves to the NUVIA story. First is the story of the company’s founders, which include John Bruno, Manu Gulati, and Gerard Williams III, who will be CEO. The three overlapped for a number of years at Apple, where they brought their diverse chip skillsets together to lead a variety of initiatives including Apple’s A-series of chips that power the iPhone and iPad. According to a press statement from the company, the founders have worked on a combined 20 chips across their careers and have received more than 100 patents for their work in silicon.

Gulati joined Apple in 2009 as a micro architect (or SoC architect) after a career at Broadcom, and a few months later, Williams joined the team as well. Gulati explained to me in an interview that, “So my job was kind of putting the chip together; his job was delivering the most important piece of IT that went into it, which is the CPU.” A few years later in around 2012, Bruno was poached from AMD and brought to Apple as well.

Gulati said that when Bruno joined, it was expected he would be a “silicon person” but his role quickly broadened to think more strategically about what the chipset of the iPhone and iPad should deliver to end users. “He really got into this realm of system-level stuff and competitive analysis and how do we stack up against other people and what’s happening in the industry,” he said. “So three very different technical backgrounds, but all three of us are very, very hands-on and, you know, just engineers at heart.”

Gulati would take an opportunity at Google in 2017 aimed broadly around the company’s mobile hardware, and he eventually pulled over Bruno from Apple to join him. The two eventually left Google earlier this year in a report first covered by The Information in May. For his part, Williams stayed at Apple for nearly a decade before leaving earlier this year in March.

The company is being stealthy about exactly what it is working on, which is typical in the silicon space because it can take years to design, manufacture, and get a product into market. That said, what’s interesting is that while the troika of founders all have a background in mobile chipsets, they are indeed focused on the data center broadly conceived (i.e. cloud computing), and specifically reading between the lines, to finding more energy-efficient ways that can combat the rising climate cost of machine learning workflows and computation-intensive processing.

Gulati told me that “for us, energy efficiency is kind of built into the way we think.”

The company’s CMO did tell me that the startup is building “a custom clean sheet designed from the ground up” and isn’t encumbered by legacy designs. In other words, the company isn’t building on top of ARM or other existing chip architectures.

Building an investor syndicate that’s willing to “chip” in

Outside of the founders, the other half of this NUVIA story is the collective of investors sitting around the table, all of whom not only have deep technical backgrounds, but also deep pockets who can handle the technical risk that comes with new silicon startups.

Capricorn specifically invested out of what it calls its Technology Impact Fund, which focuses on funding startups that use technology to make a positive impact on the world. Its portfolio according to a statement includes Tesla, Planet Labs, and Helion Energy.

Meanwhile, DTC is the venture wing of Dell Technologies and its associated companies, and brings a deep background in enterprise and data centers, particularly from the group’s server business like Dell EMC. Scott Darling, who leads DTC, is joining NUVIA’s board, although the company is not disclosing the board composition at this time. Navin Chaddha, an electrical engineer by training who leads Mayfield, has invested in companies like HashiCorp, Akamai, and SolarCity. Finally, WRVI has a long background in enterprise and semiconductor companies.

I chatted a bit with Darling of DTC about what he saw in this particular team and their vision for the data center. In addition to liking each founder individually, Darling felt the team as a whole was just very strong. “What’s most impressive is that if you look at them collectively, they have a skillset and breadth that’s also stunning,” he said.

He confirmed that the company is broadly working on data center products, but said the company is going to lie low on its specific strategy during product development. “No point in being specific, it just engenders immune reactions from other players so we’re just going to be a little quiet for a while,” he said.

He apologized for “sounding incredibly cryptic” but said that the investment thesis from his perspective for the product was that “the data center market is going to be receptive to technology evolutions that have occurred in places outside of the data center that’s going to allow us to deliver great products to the data center.”

Interpolating that statement a bit with the mobile chip backgrounds of the founders at Google and Apple, it seems evident that the extreme energy-to-performance constraints of mobile might find some use in the data center, particularly given the heightened concerns about power consumption and climate change among data center owners.

DTC has been a frequent investor in next-generation silicon, including joining the series A investment of Graphcore back in 2016. I asked Darling whether the firm was investing aggressively in the space or sort of taking a wait-and-see attitude, and he explained that the firm tries to keep a consistent volume of investments at the silicon level. “My philosophy on that is, it’s kind of an inverted pyramid. No, I’m not gonna do a ton of silicon plays. If you look at it, I’ve got five or six. I think of them as the foundations on which a bunch of other stuff gets built on top,” he explained. He noted that each investment in the space is “expensive” given the work required to design and field a product, and so these investments have to be carefully made with the intention of supporting the companies for the long haul.

That explanation was echoed by Gulati when I asked how he and his co-founders came to closing on this investor syndicate. Given the reputations of the three, they would have had easy access to any VC in the Valley. He said about the final investors:

They understood that putting something together like this is not going to be easy and it’s not for everybody … I think everybody understands that there’s an opportunity here. Actually capitalizing upon it and then building a team and executing on it is not something that just anybody could possibly take on. And similarly, it is not something that every investor could just possibly take on in my opinion. They themselves need to have a vision on their side and not just believe our story. And they need to strategically be willing to help and put in the money and be there for the long haul.

It may be a long haul, but Gulati noted that “on a day-to-day basis, it’s really awesome to have mostly friends you work with.” With perhaps 100 employees by the end of the year and tens of millions of dollars already in the bank, they have their war chest and their army ready to go. Now comes the fun (and hard) part as we learn how the chips fall.



https://ift.tt/eA8V8J Three of Apple and Google’s former star chip designers launch NUVIA with $53M in series A funding https://ift.tt/2Od0ZvU

Twitter makes its political ad ban official

The ban on political ads announced by Twitter two weeks ago has come into effect, and the rules are surprisingly simple — perhaps too simple. No political content as they define it may be promoted; Candidates, parties, governments or officials, PACs, and certain political nonprofit groups are banned from promoting content altogether.

The idea intended to be made manifest in these policies is that “political message reach should be earned, not bought,” as the company puts it. It’s hard to argue with that (but Facebook will anyway). The new rules apply globally and to all ad types.

It’s important to make clear at the outset that Twitter is not banning political content, it is banning the paid promotion of that content. Every topic is fair game and every person or organization on Twitter can pursue their cause as before — they just can’t pay to get their message in front of more eyeballs.

In its briefly stated rules, the company explains what it means by “political content”:

We define political content as content that references a candidate, political party, elected or appointed government official, election, referendum, ballot measure, legislation, regulation, directive, or judicial outcome.

Also banned are:

Ads that contain references to political content, including appeals for votes, solicitations of financial support, and advocacy for or against any of the above-listed types of political content.

That seems pretty straightforward. Banning political ads is controversial to begin with, but unclear or complicated definitions would really make things difficult.

A blanket ban on many politically-motivated organizations will also help clear the decks. Political action committees, or PACs, and their deep-pocketed cousins the SuperPACs, are banned from advertising at all. That makes sense, since what content would they be promoting other than attempts to influence the political process? 501(c)4 nonprofit organizations, not as publicly notorious as PACs but huge spenders on political causes, are also banned.

There are of course exemptions, both for news organizations that want to promote coverage of political issues, and “cause-based” content deemed non-political.

The first exemption is pretty natural — although many news organizations do have a political outlook or ideological bent, it’s a far cry from the practice of donating millions directly to candidates or parties. But not just any site can take advantage — you’ll have to have 200,000 monthly unique visitors, make your own content with your own people, and not be primarily focused on a single issue.

The “cause-based” exemption may be where Twitter takes the most heat. As Twitter’s policy states, it will allow “ads that educate, raise awareness, and/or call for people to take action in connection with civic engagement, economic growth, environmental stewardship, or social equity causes.”

These come with some restrictions: They can only be targeted to the state, province, or region level — no zip codes, so hyper-local influence is out. And politically-charged interests may not be targeted, so you can’t send your cause-based ads just to “socialists,” for example. And they can’t reference or be run on behalf of any of the banned entities above.

But it’s the play in the definition that may come back to bite Twitter. What exactly constitutes “civic engagement” and “social equity causes”? Perhaps these concepts were only vaguely defined by design to be accommodating rather than prescriptive, but if you leave an inch for interpretation, you’d better believe bad actors are going to take a mile.

Clearly this is meant to allow promotion of content like voter registration drives, disaster relief work, and so on. But it’s more than possible someone will try to qualify, say, an anti-immigrant rally as “public conversation around important topics.”

I asked Twitter whether additional guidance on the cause-based content rules would be forthcoming, but a representative simply pointed me to the very language I quoted.

That said, policy lead at Twitter Vijaya Gadde said that the company will attempt to be transparent with its decisions on individual issues and clear about changes to the rules going forward.

“This is new territory,” she tweeted. “As with every policy we put into practice, it will evolve and we’ll be listening to your feedback.”

And no doubt they shall receive it — in abundance.



from Social – TechCrunch https://ift.tt/eA8V8J Twitter makes its political ad ban official Devin Coldewey https://ift.tt/2rGPaGD
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More layoffs at pivoting London edtech startup pi-top

London edtech startup pi-top has gone through another round of layoffs, TechCrunch has learned.

pi-top confirmed that eight jobs have been cut in the London office, saying the job losses resulted from a “restructuring our business to focus on the U.S. education market”.

In August we broke the news that the STEM hardware focused company had cut 12 staff after losing out on a major contract. pi-top told us then that its headcount had been reduced from 72 to 60.

The latest cuts suggest the workforce has been reduced to around 50 — although we have also heard that company headcount is now considerably lower than that.

One source told us that 12 jobs have gone in the London office this week, as well as additional cuts in the China office where the company’s hardware team is based — but pi-top denied there have been any changes to its China team.

pi-top said in August that the layoffs were related to implementing a new strategy.

Commenting on the latest cuts, it told us: “We have made changes within the company that reflect our business focus on the U.S. education market and our increasingly important SaaS learning platform.”

“The core of our business remains unchanged and we are happy with progress and the fantastic feedback we have received on pitop 4 from our school partners,” pi-top added.

Additionally, we have heard that a further eight roles at the UK office have been informed to staff as at risk of redundancy. Affected jobs at risk include roles in product, marketing, creative services, customer support and finance.

We also understand that a number of employees have left the company of their own accord in recent months, following an earlier round of layoffs.

pi-top did not provide comment on jobs at risk of redundancy but told us that it has hired three new staff “to accelerate the SaaS side of our education offering and will be increasing our numbers in the U.S. to service our growth in the region”.

We understand that the latest round of cuts have been communicated to staff as a cost reduction exercise and also linked to implementing a new strategy. Staff have also been told that the business focus has shifted to the U.S schools market.

As we reported earlier this year, pi-top appointed a new executive chairman of its board who has a strong U.S. focus: Stanley Buchesky served in the Trump administration as an interim CFO for the US department for education under secretary of state, Betsy DeVos. He is also the founder of a U.S. edtech seed fund.

Sources familiar with pi-top say the company is seeking to pivot away from making proprietary edtech hardware to focus on a SaaS learning platform for teaching STEM, called pi-top Further.

At the start of this year it crowdfunded a fourth gen STEM device, the pi-top 4, with an estimated shipping date of this month. The crowdfunder attracted 521 backers, pledging close to $200k to fund the project.

In the pi-top 4 Kickstarter pitch the device is slated as being supported by a software platform called Further — which is described as a “free social making platform” that “teaches you how to use all the pi-top components through completing challenges and contributing projects to the community”, as well as offering social sharing features.

The plan now is for pi-top to monetize that software platform by charging subscription fees for elements of the service — with the ultimate goal of SaaS revenues making up the bulk of its business as hardware sales are de-emphasized. (Hardware is hard; and pi-top’s current STEM learning flagship has faced some challenges with reliability, as we reported in August.)

We understand that the strategic change to Further — from free to a subscription service — was communicated to staff internally in September.

Asked about progress on the pi-top 4, the company told us the device began shipping to backers this week. 

“We are pleased to announce the release of pi-top 4 and pi-top Further, our new learning and robotics coding platform,” it said. “This new product suite provides educators the ability to teach coding, robotics and AI with step-by-step curriculum and an integrated coding window that powers the projects students build. With pi-top, teachers can effectively use Project Based Learning and students can learn by doing and apply what they learn to the real world.”

Last month pi-top announced it had taken in $4M in additional investment to fund the planned pivot to SaaS — and “bridge towards profitability”, as it put it today.

“The changes you see are a fast growing start-up shifting from revenue focus to a right-sized profit generating company,” it also told us.



https://ift.tt/eA8V8J More layoffs at pivoting London edtech startup pi-top https://ift.tt/2NO6MJj

VoltServer adds a data layer to electricity distribution in a move that could help smart grid rollout

Stephen Eaves, the chief executive of a new startup that promises to overlay data on electricity distribution, has spent years developing data management technologies.

Eaves’ first company, the eponymous Eaves Devices, focused on energy systems in aerospace and defense — they converted the military’s fleet of B2 bombers to use lithium ion batteries.

The second company he was involved in was developing modular array devices to install in central offices and cell towers and conducted early work on electric vehicle development.

His goal, Eaves says, was to “make electricity inherently safe.”

VoltServer is the latest company from Eaves to pursue that goal. Eaves makes transmission safer by breaking electrical distribution into packets; those packets are sent down transmission lines to ensure that there are not faults. If there’s a break in the line, the equipment stops transmitting energy.

“We take either AC or DC electricity into a transmitter and the transmitter breaks the electricity into packets and the receiver takes the packets and puts them back together and distributes it as regular AC/DC current,” Eaves explains.

The architecture is akin to a router. There’s digital signal processing in the transmitter powered by a semiconductor that’s a gateway for the electricity. “It’s like the devices you find in solar power converters,” says Eaves.

Already roughly 700 stadiums, large offices and indoor grow facilities have deployed the company’s technology. And the traction was enough to attract the attention of Alphabet subsidiary Sidewalk Labs, which led a recent $7.4 million financing into the company. To date, the company has raised $18 million from a clutch of investors, including: Marker Hill Capital, Slater Technology Fund, Natural Resources Capital Management, Clean Energy Venture Group, Angel Street Capital and Coniston Capital.  

“We’re kind of a combined hardware and software company,” says Eaves. “[Customers] buy the boxes and the company has third parties that install it. There are software applications to track energy usage to assign processes for what to do in an outage.”

Typical installations can be anywhere from $30,000 to $1 million and the company is targeting three core markets — intelligent building infrastructure, communications and indoor agriculture, according to Eaves. In fact, the company’s largest installation is a lettuce farm in Florida. “You’re in a very constrained environment and you want a very safe transmission technology. And we’ve developed a lighting product. It removes a lot of the conversion electronics that would normally be in the growth space,” says Eaves.

The technology certainly slashes the cost for power transmission in a stadium. Traditional power transmission can cost roughly $36 per linear foot, while VoltServer can cut that cost to less than $10 per foot, according to the company.

VoltServer isn’t the only startup that’s looking to add data controls to electricity distribution. Companies like Blueprint PowerBlue Pillar and monitoring companies like Enertiv and Aquicore are all looking at ways to monitor and manage distribution. At the grid scale, there’s Camus Energy, which looks to provide energy “orchestration” services.

“Electricity powers our world, but the fundamental danger inherent in AC or DC electricity makes today’s electrical systems expensive to install or change,” said Sidewalk Labs chairman and chief executive, Dan Doctoroff in a statement. “[This technology] is a breakthrough, offering a less expensive, safer and more efficient way to distribute electricity that can make buildings more affordable and flexible. Over time, that can make cities more affordable, sustainable, and adaptable as our needs change.”

For some investors in the energy sector, these kinds of distribution and transmission technologies are a critical component of the next generation of grid technologies needed to bring the world closer to 100% renewable transmission.

“What is relevant is internet-connected, controllable energy assets that you can control from some centralized dispatch,” says one investor active in energy investing. 



https://ift.tt/eA8V8J VoltServer adds a data layer to electricity distribution in a move that could help smart grid rollout https://ift.tt/33OLukt

Despite bans, Giphy still hosts self-harm, hate speech, and child sex abuse content

Image search engine Giphy bills itself as providing “fun and safe way” to search and create animated GIFs. But despite its ban on illicit content, the site is littered with self-harm and child sex abuse imagery, TechCrunch has learned.

A new report from Israeli online child protection startup L1ght — previously AntiToxin Technologies — has uncovered a host of toxic content hiding within the popular GIF-sharing community, including illegal child abuse content, depictions of rape, and other toxic imagery associated with topics like white supremacy and hate speech. The report, shared exclusively with TechCrunch, also showed content encouraging viewers into unhealthy weight loss and glamorizing eating disorders.

TechCrunch verified some of the company’s findings by searching the site using certain keywords. (We did not search for terms that may have returned child sex abuse content as doing so would be illegal.) Although Giphy blocks many hashtags and search terms from returning results, search engines like Google and Bing still cache images with certain keywords.

When we tested using several words associated with illicit content, Giphy sometimes showed content from its own results. When it didn’t return any banned materials, search engines often returned a stream of would-be banned results.

L1ght develops advanced solutions to combat online toxicity. Through its tests, one search of illicit material returned 195 pictures on the first search page alone. L1ght’s team then followed tags from one item to the next, uncovering networks of illegal or toxic content along the way. The tags themselves were often innocuous in order help users escape detection, but they served as a gateway to the toxic material.

Despite a ban on self-harm content, researchers found numerous keywords and search terms to find the banned content. We have blurred this graphic image. (Image: TechCrunch)

Many of the more extreme content — including images of child sex abuse — are said to have been tagged using keywords associated with known child exploitation sites.

We are not publishing the hashtags, search terms, or sites used to access the content, but we passed on the information to the National Center for Missing and Exploited Children, a national non-profit established by Congress to fight child exploitation.

Simon Gibson, Giphy’s head of audience, told TechCrunch that content safety was of the “utmost importance” to the company and that it employs “extensive moderation protocols.” He said that when illegal content is identified, the company works with the authorities to report and remove it.

He also expressed frustration that L1ght had not contacted Giphy with the allegations first. L1ght said that Giphy is already aware of its content moderation problems.

Gibson said Giphy’s moderation system “leverages a combination of imaging technologies and human validation,” which involves users having to “apply for verification in order for their content to appear in our searchable index.” Content is “then reviewed by a crowdsourced group of human moderators,” he said. “If a consensus for rating among moderators is not met, or if there is low confidence in the moderator’s decision, the content is escalated to Giphy’s internal trust and safety team for additional review,” he said.

“Giphy also conducts proactive keyword searches, within and outside of our search index, in order to find and remove content that is against our policies,” said Gibson.

L1ght researchers used their proprietary artificial intelligence engine to uncover illegal and other offensive content. Using that platform, the researchers can find other related content, allowing them to find vast caches of illegal or banned content that would otherwise and for the most part go unseen.

This sort of toxic content plagues online platforms but algorithms only play a part. More tech companies are finding human moderation is critical to keeping their sites clean. But much of the focus to date has been on the larger players in the space, like Facebook, Instagram, YouTube, and Twitter.

Facebook, for example, has been routinely criticized for outsourcing moderation to teams of lowly paid contractors who often struggle to cope with the sorts of things they have to watch, even experiencing post-traumatic-like symptoms as a result of their work. Meanwhile, Google’s YouTube this year was found to have become a haven for online sex abuse rings, where criminals had used the comments section to guide one another to other videos to watch while making predatory remarks.

Giphy and other smaller platforms have largely stayed out of the limelight, during the past several years. But L1ght’s new findings indicate that no platform is immune to these sorts of problems.

L1ght says the Giphy users sharing this sort of content would make their accounts private so they wouldn’t be easily searchable by outsiders or the company itself. But even in the case of private accounts, the abusive content was being indexed by some search engines, like Google, Bing and Yandex, which made it easy to find. The firm also discovered that pedophiles were using Giphy as the means of spreading their materials online, including communicating with each other and exchanging materials. And they weren’t just using Giphy’s tagging system to communicate — they were also using more advanced techniques like tags placed on images through text overlays.

This same process was utilized in other communities, including those associated with white supremacy, bullying, child abuse and more.

This isn’t the first time Giphy has faced criticism for content on its site. Last year a report by The Verge described the company’s struggles to fend off illegal and banned content. Last year the company was booted from Instagram for letting through racist content.

Giphy is far from alone, but it is the latest example of companies not getting it right. Earlier this year and following a tip, TechCrunch commissioned then-AntiToxin to investigate the child sex abuse imagery problem on Microsoft’s search engine Bing. Under close supervision by the Israeli authorities, the company found dozens of illegal images in the results from searching certain keywords. When The New York Times followed up on TechCrunch’s report last week, its reporters found Bing had done little in the months that had passed to prevent child sex abuse content appearing in its search results.

It was a damning rebuke on the company’s efforts to combat child abuse in its search results, despite pioneering its PhotoDNA photo detection tool, which the software giant built a decade ago to identify illegal images based off a huge database of hashes of known child abuse content.

Giphy’s Gibson said the company was “recently approved” to use Microsoft’s PhotoDNA but did not say if it was currently in use.

Where some of the richest, largest and most-resourced tech companies are failing to preemptively limit their platforms’ exposure to illegal content, startups are filling in the content moderation gaps.

L1ght, which has a commercial interest in this space, was founded a year ago to help combat online predators, bullying, hate speech, scams, and more.

The company was started by former Amobee chief executive Zohar Levkovitz and cybersecurity expert Ron Porat, previously the founder of ad-blocker Shine, after Porat’s own son experienced online abuse in online game Minecraft. The company realized the problem with these platforms was something that had outgrown users’ own ability to protect themselves, and that technology needed to come to their aid.

L1ght’s business involves deploying its technology in similar ways as it has done here with Giphy— in order to identify, analyze, and predict online toxicity with near real-time accuracy.



from Social – TechCrunch https://ift.tt/2qfXBbG Despite bans, Giphy still hosts self-harm, hate speech, and child sex abuse content Sarah Perez https://ift.tt/379ejKs
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Despite bans, Giphy still hosts self-harm, hate speech, and child sex abuse content

Image search engine Giphy bills itself as providing “fun and safe way” to search and create animated GIFs. But despite its ban on illicit content, the site is littered with self-harm and child sex abuse imagery, TechCrunch has learned.

A new report from Israeli online child protection startup L1ght — previously AntiToxin Technologies — has uncovered a host of toxic content hiding within the popular GIF-sharing community, including illegal child abuse content, depictions of rape, and other toxic imagery associated with topics like white supremacy and hate speech. The report, shared exclusively with TechCrunch, also showed content encouraging viewers into unhealthy weight loss and glamorizing eating disorders.

TechCrunch verified some of the company’s findings by searching the site using certain keywords. (We did not search for terms that may have returned child sex abuse content as doing so would be illegal.) Although Giphy blocks many hashtags and search terms from returning results, search engines like Google and Bing still cache images with certain keywords.

When we tested using several words associated with illicit content, Giphy sometimes showed content from its own results. When it didn’t return any banned materials, search engines often returned a stream of would-be banned results.

L1ght develops advanced solutions to combat online toxicity. Through its tests, one search of illicit material returned 195 pictures on the first search page alone. L1ght’s team then followed tags from one item to the next, uncovering networks of illegal or toxic content along the way. The tags themselves were often innocuous in order help users escape detection, but they served as a gateway to the toxic material.

Despite a ban on self-harm content, researchers found numerous keywords and search terms to find the banned content. We have blurred this graphic image. (Image: TechCrunch)

Many of the more extreme content — including images of child sex abuse — are said to have been tagged using keywords associated with known child exploitation sites.

We are not publishing the hashtags, search terms, or sites used to access the content, but we passed on the information to the National Center for Missing and Exploited Children, a national non-profit established by Congress to fight child exploitation.

Simon Gibson, Giphy’s head of audience, told TechCrunch that content safety was of the “utmost importance” to the company and that it employs “extensive moderation protocols.” He said that when illegal content is identified, the company works with the authorities to report and remove it.

He also expressed frustration that L1ght had not contacted Giphy with the allegations first. L1ght said that Giphy is already aware of its content moderation problems.

Gibson said Giphy’s moderation system “leverages a combination of imaging technologies and human validation,” which involves users having to “apply for verification in order for their content to appear in our searchable index.” Content is “then reviewed by a crowdsourced group of human moderators,” he said. “If a consensus for rating among moderators is not met, or if there is low confidence in the moderator’s decision, the content is escalated to Giphy’s internal trust and safety team for additional review,” he said.

“Giphy also conducts proactive keyword searches, within and outside of our search index, in order to find and remove content that is against our policies,” said Gibson.

L1ght researchers used their proprietary artificial intelligence engine to uncover illegal and other offensive content. Using that platform, the researchers can find other related content, allowing them to find vast caches of illegal or banned content that would otherwise and for the most part go unseen.

This sort of toxic content plagues online platforms but algorithms only play a part. More tech companies are finding human moderation is critical to keeping their sites clean. But much of the focus to date has been on the larger players in the space, like Facebook, Instagram, YouTube, and Twitter.

Facebook, for example, has been routinely criticized for outsourcing moderation to teams of lowly paid contractors who often struggle to cope with the sorts of things they have to watch, even experiencing post-traumatic-like symptoms as a result of their work. Meanwhile, Google’s YouTube this year was found to have become a haven for online sex abuse rings, where criminals had used the comments section to guide one another to other videos to watch while making predatory remarks.

Giphy and other smaller platforms have largely stayed out of the limelight, during the past several years. But L1ght’s new findings indicate that no platform is immune to these sorts of problems.

L1ght says the Giphy users sharing this sort of content would make their accounts private so they wouldn’t be easily searchable by outsiders or the company itself. But even in the case of private accounts, the abusive content was being indexed by some search engines, like Google, Bing and Yandex, which made it easy to find. The firm also discovered that pedophiles were using Giphy as the means of spreading their materials online, including communicating with each other and exchanging materials. And they weren’t just using Giphy’s tagging system to communicate — they were also using more advanced techniques like tags placed on images through text overlays.

This same process was utilized in other communities, including those associated with white supremacy, bullying, child abuse and more.

This isn’t the first time Giphy has faced criticism for content on its site. Last year a report by The Verge described the company’s struggles to fend off illegal and banned content. Last year the company was booted from Instagram for letting through racist content.

Giphy is far from alone, but it is the latest example of companies not getting it right. Earlier this year and following a tip, TechCrunch commissioned then-AntiToxin to investigate the child sex abuse imagery problem on Microsoft’s search engine Bing. Under close supervision by the Israeli authorities, the company found dozens of illegal images in the results from searching certain keywords. When The New York Times followed up on TechCrunch’s report last week, its reporters found Bing had done little in the months that had passed to prevent child sex abuse content appearing in its search results.

It was a damning rebuke on the company’s efforts to combat child abuse in its search results, despite pioneering its PhotoDNA photo detection tool, which the software giant built a decade ago to identify illegal images based off a huge database of hashes of known child abuse content.

Giphy’s Gibson said the company was “recently approved” to use Microsoft’s PhotoDNA but did not say if it was currently in use.

Where some of the richest, largest and most-resourced tech companies are failing to preemptively limit their platforms’ exposure to illegal content, startups are filling in the content moderation gaps.

L1ght, which has a commercial interest in this space, was founded a year ago to help combat online predators, bullying, hate speech, scams, and more.

The company was started by former Amobee chief executive Zohar Levkovitz and cybersecurity expert Ron Porat, previously the founder of ad-blocker Shine, after Porat’s own son experienced online abuse in online game Minecraft. The company realized the problem with these platforms was something that had outgrown users’ own ability to protect themselves, and that technology needed to come to their aid.

L1ght’s business involves deploying its technology in similar ways as it has done here with Giphy— in order to identify, analyze, and predict online toxicity with near real-time accuracy.



https://ift.tt/2qfXBbG Despite bans, Giphy still hosts self-harm, hate speech, and child sex abuse content https://ift.tt/379ejKs

Last chance for early-bird pricing on passes to Disrupt Berlin 2019

Trite as it may sound, all good things must come to an end. And the good thing that’s about to come to a grinding halt is early-bird pricing on passes to Disrupt Berlin 2019. You have mere hours to save — the deadline strikes tonight at 11:59 p.m. (CEST).

You can save up to €500, but only if you beat the clock. Buy your early bird pass right now, otherwise you’ll pay more than necessary — how sad.

Need more inspiration than saving significant euros? Okay, let’s talk speakers. Disrupt conferences always offers an awesome lineup of speakers, and this year Disrupt Berlin is no exception. We’re going to mix it up a bit in this post and feature just some of the impressive women who will hold forth on the various Disrupt stages.

Unnatural Language Processing with Emily Foges (CEO at Luminance) and Sofie Quidenus-Wahlforss (founder & CEO at omni:us). Legal contracts and insurance policies can be difficult even for experts to decipher. Hear from the founders how Luminance and omni:us use AI to take on jargon and save everyone time.

The New New Shop with Maria Raga (CEO of Depop). As shopping has moved from the web to apps, Depop has caught the Gen-Z wave. We’ll hear from Raga, the CEO nurturing this “eBay for the 21st Century.”

What does it take to raise a Series A? with Jessica Holzbach (co-founder & CCO at Penta), Louise Dahlborn Samet (partner at Blossom Capital) and Hannah Seal (principal at Index Ventures). Venture capital funds have boomed this decade, but raising money is still hard for young companies. What are investors today looking for in teams, metrics and products?

Up, Up and Away with Jen Rubio (co-founder & chief brand officer at Away). The D2C space is awfully crowded, but luggage brand Away has managed to rise above the noise to build one of the most successful consumer brands of this decade with a valuation of $1.4 billion as of earlier this year. Hear from CEO Jen Rubio about how the company got its start, grew, and became the household name it is today.

Like we said, those are but a few of the amazing women you’ll hear at Disrupt Berlin. And the guys aren’t half bad either. Check out the full agenda here.

There’s more to explore at Disrupt Berlin — Q&A Sessions, the Startup Battlefield, the Hackathon finalists pitching on the Extra Crunch Stage and hundreds of startups in Startup Alley, including our recently announced TC Top Picks.

See and do it all at Disrupt Berlin 2019 on 11-12 December. You’ll see and do it all for less if you act now and buy an early-bird pass to Disrupt Berlin before early-bird pricing disappears tonight at 11:59 p.m. (CEST).

Is your company interested in sponsoring or exhibiting at Disrupt Berlin 2019? Contact our sponsorship sales team by filling out this form.



https://ift.tt/eA8V8J Last chance for early-bird pricing on passes to Disrupt Berlin 2019 https://ift.tt/37hFdQu

TikTok tests social commerce

TikTok is beginning to dabble in social commerce. The short-form video app said it has started to allow some users to add links to e-commerce sites (or any other destination) to their profile biography as well as offer creators the ability to easily send their viewers to shopping websites.

The company said the roll-out of these two features are part of its usual “experimentation” to improve app experience for users. Though, this particular experimentation could significantly change how lucrative influencers find TikTok.

A spokesperson of ByteDance, one of the world’s most valuable startups that also owns TikTok, said, “We’re always experimenting with new ways to improve the app experience for our users. Ultimately, we’re focused on ways to inspire creativity, bring joy, and add value for our community.”

These features were first spotted and shared by Fabian Bern, founder of influencer Chinese startup Uplab. In a video he tweeted on Thursday, Bern showed how it was possible for the first time for creators to give their viewers the ability to visit a third-party website.

In the video, we also see TikTok is permitting users to add a URL in their profile bio. Instagram has long allowed this functionality, which is used by a large number of accounts for a variety of reasons. While influencers usually direct their fans to merchandise stores, some news publishers use it to drive people to news articles, for instance. The current set of restrictions on Instagram, however, leave a lot to be desired.

If TikTok, which has amassed over a billion users, retains these features it could disrupt what many industry figures call “social commerce.” Social media companies and messaging apps in recent years have lured customers through their core services and introduced shopping features.

In many markets such as China, Southeast Asia and India, which happens to be one of TikTok’s biggest markets, social commerce is increasingly becoming popular and beginning to pose a challenge to “traditional” e-commerce players such as Amazon.

And major giants are beginning to see an opportunity in this space. Facebook, which offers a marketplace, this year backed Meesho, an Indian social commerce startup.

Meesho connects buyers and sellers on WhatsApp and other social media platforms, enables them to showcase and sell their goods, and works with a range of logistics companies to service their orders.

“This is big!” said Nameet Potnis, head of business growth and marketing for the India unit of Naspers’ global payments firm PayU, of TikTok’s new features.

“Excited to see how this is going to reshape commerce in tier 2/3 India where TikTok rules over Instagram. As Indians get comfortable with buying and paying online, local influencers will change the game.”

TikTok’s experimentation comes at a time when rival Instagram is beginning to expand a test in which it hides “likes” from public view. The move has caused concerns for influencers, who count on likes to inform advertisers of their reach.

TikTok, which has amassed over 180 million users in India and thousands of influencers in the country, last month expanded to education category in India.



from Social – TechCrunch https://ift.tt/eA8V8J TikTok tests social commerce Manish Singh https://ift.tt/33PBQhl
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SoftBank Vision Fund’s Carolina Brochado is coming to Disrupt Berlin

SoftBank’s Vision Fund has single-handedly changed the game when it comes to tech startup investment. And that’s why I’m excited to announce that SoftBank Vision Fund investment director Carolina Brochado is joining us at TechCrunch Disrupt Berlin.

Carolina Brochado isn’t a newcomer when it comes to VC investment. She’s worked for years at Atomico in London. Originally from Brazil, she first joined Atomico as an intern in 2012 while studying her MBA at Columbia Business School.

After her MBA, she joined an e-commerce startup as head of operations. Unfortunately, that startup is now defunct. But she used that opportunity to join Atomico once again, as a principle. She became a partner at Atomico in 2016 and left the firm late last year.

At SoftBank’s Vision Fund, she focuses on fintech, digital health and marketplace startups. Just to give you an idea, some of her past investments with both Atomico and SoftBank include LendInvest, Gympass, Hinge Health, Ontruck and Rekki.

More generally, given the size of SoftBank’s Vision Fund ($100 billion), it has had a huge impact on the growth trajectory of some companies. I’m personally curious to know SoftBank’s approach as board members, whether they get involved in the strategy of those companies or let the executive teams make decisions on their own.

Buy your ticket to Disrupt Berlin to listen to this discussion and many others. The conference will take place on December 11-12.

In addition to panels and fireside chats, like this one, new startups will participate in the Startup Battlefield to compete for the highly coveted Battlefield Cup.


Carolina focuses on fintech, digital health and marketplaces. Prior to joining Softbank, Carolina was a Partner at Atomico, where she sourced and collaborated with portfolio companies for almost five years. Some of her investments included Lendinvest, Gympass, Hinge Health, Ontruck and Rekki.

Previously Carolina has worked as Head of Ops to a now defunct gifting e-commerce start-up, as an investor at Chicago-based private equity firm Madison Dearborn Partners and within Consumer/Retail Investment Banking at Merrill Lynch in New York.

Carolina has a Bachelor of Science degree in Foreign Service from Georgetown University and an MBA from Columbia Business School. She is originally from Brazil.



https://ift.tt/eA8V8J SoftBank Vision Fund’s Carolina Brochado is coming to Disrupt Berlin https://ift.tt/32NH6kg

Investment bank Lazard has quietly recruited a ‘Venture and Growth’ team to focus on European scale-ups

Lazard, the global investment bank, has been quietly recruiting a ten-person team in London to head up its newly created “Venture and Growth Banking” division to match investors with European scale-ups.

Unlike some investment banks, the focus of Lazard Venture and Growth Banking will include Series B and C. That’s earlier than many startups typically engage the help of an investment bank when raising capital and speaks to the sheer number of European startups currently chasing a pool of venture capital that is increasingly global and fragmented.

The Lazard Venture and Growth Banking team will be headed up by ex-Numis employees Garri Jones and Nick James, with both serving as Managing Directors.

Noteworthy, according to his LinkedIn profile, Jones was previously Venture and Broking Lead at Numis. He was also a founding partner at Circle Health, helping to grow the company from seed to IPO. Jones is also a board member of stock photo startup Picfair.

James, who will take up the role of COO at Lazard Venture and Growth Banking, is a well-respected equity research analyst and also recently left Numis (his LinkenIn says he is on gardening leave). He was previously an investment manager at Nomura in its technology VC team.

The other eight members of the team are said to be a mix of experienced entrepreneurs, bankers, engineers and data scientists.

In particular, I understand the Lazard Venture and Growth Banking team see untapped growth-stage opportunities beyond more “classic” VC sectors, such as consumer, SaaS and fintech, to also include AI, life sciences and clean tech — areas that requite deep tech and engineering expertise to evaluate and understand properly.

In other words, Lazard believes that intermediation in the form of an investment bank with the right team and connections can make the difference at Series B, C and beyond — both for investors and companies seeking capital.

Specifically, Lazard Venture and Growth Banking will look to identify the top 100 fastest-growing startups in Europe and connect them to 400 or so investors. These investors will be a mix of institutional funding, including venture capital and private equity, along with sovereign wealth funds, and high net worth individuals.

A large proportion of investors will be made up of corporates, too. I understand the thinking within the new Lazard division is that there in an abundance of corporate venture that remains untapped, with some of Europe’s largest corporates hoping to play catch up after historically underinvesting in R&D.

However, it isn’t simply a case of matching corporates (or their venture arms) with fast-growing startups. It is equally important to match the right corporates to the right startups — and again this is where the Lazard Venture and Growth Banking team believe it can add value.

Meanwhile, Lazard is also planning to host a three-day conference in April 2020 where it will bring leading companies and global investors together through a series of panel discussions and “bespoke investor and company meetings”.



https://ift.tt/eA8V8J Investment bank Lazard has quietly recruited a ‘Venture and Growth’ team to focus on European scale-ups https://ift.tt/32PRNmt

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