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Thursday, August 29, 2019

Former Google X ecec Mo Gawdat wants to reinvent consumerism

Mo Gawdat, the former Google and Google X executive, is probably best known for his book Solve for Happy: Engineer Your Path to Joy. He left Google X last year. Quite a bit has been written about the events that led to him leaving Google, including the tragic death of his son. While happiness is still very much at the forefront of what he’s doing, he’s also now thinking about his next startup: T0day.

To talk about T0day, I sat down with the Egypt-born Gawdat at the Digital Frontrunners event in Copenhagen, where he gave one of the keynote presentations. Gawdat is currently based in London. He has adopted a minimalist lifestyle, with no more than a suitcase and a carry-on full of things. Unlike many of the Silicon Valley elite that have recently adopted a kind of performative aestheticism, Gawdat’s commitment to minimalism feels genuine — and it also informs his new startup.

07 28 19 Frontrunner 38“In my current business, I’m building a startup that is all about reinventing consumerism,” he told me. “The problem with retail and consumerism is it’s never been disrupted. E-commerce, even though we think is a massive revolution, it’s just an evolution and it’s still tiny as a fraction of all we buy. It was built for the Silicon Valley mentality of disruption, if you want, while actually, what you need is cooperation. There are so many successful players out there, so many efficient supply chains. We want the traditional retailers to be successful and continue to make money — even make more money.”

What T0day wants to be is a platform that integrates all of the players in the retail ecosystem. That kind of platform, Gawdat argues, never existed before, “because there was never a platform player.”

That sounds like an efficient marketplace for moving goods, but in Gawdat’s imagination, it is also a way to do good for the planet. Most of the fuel burned today isn’t for moving people, he argues, but goods. A lot of the food we buy goes to waste (together with all of the resources it took to grow and ship it) and single-use plastic remains a scourge.

How does T0day fix that? Gawdat argues that today’s e-commerce is nothing but a digital rendering of the same window shopping people have done for ages. “You have to reimagine what it’s like to consume,” he said.

The reimagined way to consume is essentially just-in-time shipping for food and other consumer goods, based on efficient supply chains that outsmart today’s hub and spoke distribution centers and can deliver anything to you in half an hour. If everything you need to cook a meal arrives 15 minutes before you want to start cooking, you only need to order the items you need at that given time and instead of a plastic container, it could come a paper bag. “If I have the right robotics and the right autonomous movements — not just self-driving cars, because self-driving cars are a bit far away — but the right autonomous movements within the enterprise space of the warehouse, I could literally give it to you with the predictability of five minutes within half an hour,” he explained. “If you get everything you need within half an hour, why would you need to buy seven apples? You would buy three.”

Some companies, including the likes of Uber, are obviously building some of the logistics networks that will enable this kind of immediate drop shipping, but Gawdat doesn’t think Uber is the right company for this. “This is going to sound a little spiritual. There is what you do and there is the intention behind why you do it,” he said. “You can do the exact same thing with a different intention and get a very different result.”

That’s an ambitious project, but Gawdat argues that it can be done without using massive amounts of resources. Indeed, he argues that one of the problems with Google X, and especially big moonshot projects like Loon and self-driving cars, was that they weren’t really resource-constrained. “Some things took longer than they should have,” he said. “But I don’t criticize what they did at all. Take the example of Loon and Facebook. Loon took longer than it should have. In my view, it was basically because of an abundance of resources and sometimes innovation requires a shoestring. That’s my only criticism.”

T0day, which Gawdat hasn’t really talked about publicly in the past, is currently self-funded. A lot of people are advising him to raise money for it. “We’re getting a lot of advice that we shouldn’t self-fund,” he said, but he also believes that the company will need some strategic powerhouses on its side, maybe retailers or companies that have already invested in other components of the overall platform.

T0day’s ambitions are massive, but Gawdat thinks that his team can get the basic elements right, be that the fulfillment center design or the routing algorithms and the optimization engines that power it all. He isn’t ready to talk about those, though. What he does think is that T0day won’t be the interface for these services. It’ll be the back end and allow others to build on top. And because his previous jobs have allowed him to live a comfortable life, he isn’t all that worried about margins either, and would actually be happy if others adopted his idea, thereby reducing waste.



https://ift.tt/2L5JwFm Former Google X ecec Mo Gawdat wants to reinvent consumerism https://ift.tt/2ZAJ3Pw

48 hours left: Buy your early-bird passes to Disrupt SF 2019

We dedicate this post to all the busy, overworked startuppers — the last-minute mamas, procrastinating papas and everyone in between. We empathize and gently offer this swift boot in the booty. You have only 48 hours left to save a bundle on your pass to Disrupt San Francisco 2019.

Beat the deadline — 11:59 p.m. (PST) on August 30 — and you can save up to $1,300. Get moving and buy your tickets right here, right now.

Don’t miss out on our flagship Disrupt, which takes place October 2-4. It’s the quintessential tech conference for anyone focused on early-stage startups. Join more than 10,000 attendees — including over 1,200 exhibiting startups — for three jam-packed days of programming. We’re talking four different stages with interactive workshops, Q&A sessions and interviews with some of the industry’s top tech titans, founders, investors, movers and shakers. Check out our list of speakers and the Disrupt agenda.

Disrupt is a breeding ground of opportunity, networking and collaboration. It’s a place where ideas are born, and partnerships are made. Don’t take our (admittedly very biased) word for it. Your peers happen to agree. Here’s what Sage Wohns, co-founder of Agolo, an artificial intelligence startup, had to say about his Disrupt experience:

Disrupt helps you connect more with the startup community in very tangible ways. You can meet investors and bigger players in your industry to see if there’s an opportunity to work together. Disrupt is unique in how it brings everyone — all the industry touch points — together under one roof. It’s incredibly valuable.

We haven’t even mentioned the Startup Battlefield pitch competition, the TC Top Picks who will set up camp in Startup Alley or the TC Hackathon!

So much to see, hear and do at Disrupt San Francisco 2019. And yet, so little time left — 48 tiny little hours — to save money on your pass. What are you waiting for? Get your early-bird tickets now before the clock strikes 11:59 p.m. (PST) on August 30.

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



https://ift.tt/eA8V8J 48 hours left: Buy your early-bird passes to Disrupt SF 2019 https://ift.tt/2zxBsqp

India’s Vedantu raises $42M to expand its live and interactive online tutoring platform

Vedantu, a Bangalore-based startup that operates an online tutoring service, today announced it has raised $42 million as it races to expand its reach in the nation where tens of millions of students enter formal education and prepare for undergraduate-level competitive exams each year.

The Series C financing round for the five-year-old startup was led by Tiger Global and WestBridge Capital, with existing investors Accel, Omidyar India and TAL Education and Vedantu co-founders also participating in it. The startup has raised $58 million to date.

Vedantu offers a mix of recorded and live and interactive courses. Students who have enrolled for the interactive sessions are required to answer questions every few minutes by tapping on their smartphone screen. They can also raise their doubts at the end of the session.

The startup, which serves students aged between 12 to 18 (serving students in grade 6 to 12), offers a large catalog of recorded sessions at no charge to users. It generates revenue from selling subscription to live and interactive sessions, Vamsi Krishna, co-founder and CEO of the startup, told TechCrunch in an interview.

vlcsnap 2019 08 29 16h15m14s925

The cost of these subscriptions can vary from Rs 100 ($1.4), for students looking for sessions around a particular topic, to Rs 50,000 ($700) for long-term courses that focus on training students for under-graduate level courses, Krishna explained.

More than 1.5 million students consume educational videos on Vedantu each month, of which 30,000 are paying subscribers. The platform has amassed users from more than 30 nations, mostly those of Indian diaspora.

As part of the offering, Vedantu also tracks how much time a student takes in answering questions to determine the topics that they might be struggling to grasp. It then challenges students to solve more problems from those topics and alerts the teachers and their assistants to follow up, Krishna said.

Additionally, teachers take frequent breaks to check with students if they understood the topic. If a substantial number of students say they have doubts, teachers share more examples to explain the subject again.

Students also get to interact with teachers throughout the session via chat and their microphones. Krishna said these offerings are necessary to better coach students. It also differentiates Vedantu from other edtech startups in India.

Before starting Vedantu, Krishna, who is a teacher himself, ran Lakshya Institute that helped students prepare for under-graduate level courses until early 2014, before selling majority stake to Mumbai-based K-12 tutoring and test preparation firm MT Educare.

From Right to Left Vamsi Krishna CEO Co founder Anand Prakash Co founder Pulkit Jain Co Founder and Head Product

From right to left: Vamsi Krishna, CEO and co-founder, Anand Prakash, co-founder, with Pulkit Jain, co-founder and head of product.

He said he will use the fresh capital to broaden the startup’s engineering team and product offerings, and find more customers. Because Vedantu does not rely on previously recorded footage, scaling it could prove challenging.

The startup is not looking to aggressively expand its courses and its current live format will enable it to allocate more students in a session, Krishna said.

Vedantu competes with a number of local players including unicorn Byju’s, which is widely believed to be the largest edtech startup in the world with its valuation ballooning close to $6 billion. Byju’s, which has more than 2.4 million paid subscribers (and over 30 million users), offers courses for students in kindergarten to year 12, in addition to those preparing for competitive under graduation level courses.

Unacademy, another edtech startup in India, has amassed over 10,000 registered educators and 13 million learners. It recently raised a $50 million round.

India has the largest population in the world in the age bracket of 5 to 24 years. The education space in the nation is estimated to grow to $35 billion in the next six years.



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Google to pay security researchers who find Android apps and Chrome extensions misusing user data

{rss:content:encoded} Google to pay security researchers who find Android apps and Chrome extensions misusing user data https://ift.tt/32ia3VT https://ift.tt/2HrYrHN August 29, 2019 at 06:30PM

Google said it will pay security researchers who find “verifiably and unambiguous evidence” of data abuse using its platforms.

It’s part of the company’s efforts to catch those who misuse user data collected through Android apps or Chrome extensions — and to avoid its own version of a scandal like Cambridge Analytica, which saw millions of Facebook profiles scraped and used to identify undecided voters during the U.S. presidential election in 2016.

Google said anyone who identifies “situations where user data is being used or sold unexpectedly, or repurposed in an illegitimate way without user consent” is eligible for its expanded data abuse bug bounty.

“If data abuse is identified related to an app or Chrome extension, that app or extension will accordingly be removed from Google Play or Google Chrome Web Store,” read a blog post. “In the case of an app developer abusing access to Gmail restricted scopes, their API access will be removed.” The company said abuse of its developer APIs would also fall under the scope of the bug bounty.

Google said it isn’t providing a reward table yet but a single report of data misuse could net $50,000 in bounties.

News of the expanded bounty comes in the wake of the DataSpii scandal, which saw browser extensions scrape and share data from millions of users. These Chrome extensions uploaded web addresses and webpage titles of every site a user visited, exposing sensitive data like tax returns, patient data, and travel itineraries.

Google was forced to step in and suspend the offending Chrome extensions.

Instagram recently expanded its own bug bounty to include misused user data following a spate of data incidents,

Instagram may allow creators to syndicate IGTV videos to Facebook

Following the departure of Instagram’s founders, Facebook is working to more closely integrate the photo-sharing app with its flagship social network. It’s already added its brand name next to Instagram’s, and is working to make both platforms’ messaging products interoperable. Now, Facebook is prototyping a means of syndicating Instagram’s IGTV video to Facebook’s video site, Facebook Watch.

In another find from noted reverse engineer, Jane Manchun Wong, Instagram was found to have under development a feature that would allow Instagram users to post their IGTV content to both Instagram as a preview, as well as to Facebook and Watch — the latter by toggling an additional switch labeled “make visible on Facebook.”

Wong says the feature is still in the prototype stage, as the buttons themselves aren’t functional.

This move, should it come to pass, could prompt more video creators to use IGTV, given that it would boost their videos’ distribution by also including Facebook as a destination for their content. The videos could also be part of an ongoing, episodic series, Wong had found.

This, in turn, could help IGTV — an app which hasn’t quite taken off as a standalone video platform. Today, IGTV takes inspiration from TikTok and Snapchat’s vertical video. It’s meant to engage Instagram users with longer-form, portrait mode video content but within Instagram and in a separate IGTV app. But IGTV has often been filled with poorly cropped and imported web video, rather than content designed specifically for the platform.

Meanwhile, the IGTV app has struggled to rise to the top of the App Store’s charts the way its parent, Instagram has. Today, it’s ranked No. 159 in the Photo & Video category on the App Store, and unranked in the Overall top charts.

To address some of the issues that creators have complained about, Instagram this week rolled out a few changes to the upload experience. This included the new ability to select the 1:1 crop of an IGTV thumbnail for the creator’s Profile Cover as well as the ability to edit which 5:4 section of the IGTV video shows in the Feed.

IGTV will also now auto-populate Instagram handles and tags on IGTV titles and descriptions, and will now support the ability to longer video from mobile. With the latter change, IGTV has increased the minimum threshold to upload on mobile to one minute, and is allowing mobile uploads up to 15 minutes.

Instagram declined to comment on the possible syndication of IGTV content to Facebook and Facebook Watch.



from Social – TechCrunch https://ift.tt/eA8V8J Instagram may allow creators to syndicate IGTV videos to Facebook Sarah Perez https://ift.tt/2zwzAOt
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Instagram may allow creators to syndicate IGTV videos to Facebook

{rss:content:encoded} Instagram may allow creators to syndicate IGTV videos to Facebook https://ift.tt/2zwzAOt https://ift.tt/2Hu3nMc August 29, 2019 at 06:22PM

Following the departure of Instagram’s founders, Facebook is working to more closely integrate the photo-sharing app with its flagship social network. It’s already added its brand name next to Instagram’s, and is working to make both platforms’ messaging products interoperable. Now, Facebook is prototyping a means of syndicating Instagram’s IGTV video to Facebook’s video site, Facebook Watch.

In another find from noted reverse engineer, Jane Manchun Wong, Instagram was found to have under development a feature that would allow Instagram users to post their IGTV content to both Instagram as a preview, as well as to Facebook and Watch — the latter by toggling an additional switch labeled “make visible on Facebook.”

Wong says the feature is still in the prototype stage, as the buttons themselves aren’t functional.

This move, should it come to pass, could prompt more video creators to use IGTV, given that it would boost their videos’ distribution by also including Facebook as a destination for their content. The videos could also be part of an ongoing, episodic series, Wong had found.

This, in turn, could help IGTV — an app which hasn’t quite taken off as a standalone video platform. Today, IGTV takes inspiration from TikTok and Snapchat’s vertical video. It’s meant to engage Instagram users with longer-form, portrait mode video content but within Instagram and in a separate IGTV app. But IGTV has often been filled with poorly cropped and imported web video, rather than content designed specifically for the platform.

Meanwhile, the IGTV app has struggled to rise to the top of the App Store’s charts the way its parent, Instagram has. Today, it’s ranked No. 159 in the Photo & Video category on the App Store, and unranked in the Overall top charts.

To address some of the issues that creators have complained about, Instagram this week rolled out a few changes to the upload experience. This included the new ability to select the 1:1 crop of an IGTV thumbnail for the creator’s Profile Cover as well as the ability to edit which 5:4 section of the IGTV video shows in the Feed.

IGTV will also now auto-populate Instagram handles and tags on IGTV titles and descriptions, and will now support the ability to longer video from mobile. With the latter change, IGTV has increased the minimum threshold to upload on mobile to one minute, and is allowing mobile uploads up to 15 minutes.

Instagram declined to comment on the possible syndication of IGTV content to Facebook and Facebook Watch.

Female founders: All Raise AMA applications @ Disrupt SF 2019 close tomorrow

The future is female and all you fierce female founders have one last shot at receiving 30 minutes of face time with some of the industry’s leading female funders. Say what now? We’re talking the All Raise “ask me anything” (AMA) sessions at Disrupt SF 2019 — and applications close tomorrow, August 30.

All Raise, a startup nonprofit focused on accelerating female founder success, will host a day-long AMA event on October 3 at Disrupt SF 2019. It’s a match-up of early-stage startup founders and top VCs — and more than 100 female founders will take part in at least 30 sessions scheduled throughout the day.

Each session lasts 30 minutes, and three founders will use that time to ask a their female funder well, anything. What business issues keep you up at night? How do you prep for your next round of funding? What do you need to consider when making key hires? This is not a pitching event — it’s a rare networking opportunity to connect with and learn from the very best.

You might be paired with one of these leading VCs.

  • Dayna Grayson, NEA
  • Susan Lyne, BBG
  • Shauntel Garvey, Reach Capital
  • Eurie Kim, Forerunner
  • Jess Lee, Sequoia
  • Kara Nortman, Upfront
  • Sarah Guo, Greylock,
  • Anarghya Vardhana, Maveron
  • Eva Ho, Fika Ventures
  • Sarah Smith, Bain Capital Ventures
  • Jess Lin, Work-Bench

Apply for an All Raise AMA session if you meet the following criteria:

  • You’re a U.S.-based woman founder
  • You’ve raised at least $250,000 in a seed, A or B round.

Note: All Raise gives special consideration to founders from underrepresented groups (e.g. Black, Latinx or LGBTQIA women).

All Raise will review the applications and notify the founders. Acceptance is based on availability for session spots, investor fit with industry sector and company stage, as well as demand for certain categories.

Bonus: After All Raise chooses the participants, we’ll randomly select 30 founders to receive a free Expo-only pass.

If you’re selected, you’ll need to buy any pass to Disrupt SF (unless you win one of the Expo Only passes). You’ll receive an email from All Raise with your session time.

Female funders helping female founders. Don’t squander this chance to learn from the women who know funding best. Apply for an All Raise AMA session by tomorrow, August 30, and get ready to move your business forward.

If you are interested in sponsoring this event or exhibiting at Disrupt San Francisco 2019, fill out this form to get in contact with our sales team.



https://ift.tt/eA8V8J Female founders: All Raise AMA applications @ Disrupt SF 2019 close tomorrow https://ift.tt/2MGpHq9

Urbvan raises $9 million for its private shuttle service in Mexico

As cities in emerging markets grapple with increasingly traffic-clogged and dangerous streets, Urbvan, a startup providing private, high-end transportation shuttles in Mexico, has raised $9 million in a new round of financing.

Co-founded by Joao Matos Albino and Renato Picard, Urbvan is taking the reins from startups like the now-defunct Chariot and tailoring the business for the needs of emerging market ecosystems.

Hailing from Portugal, Albino arrived in Mexico City as a hire for the Rocket Internet startup Linio. Although Linio didn’t last, Albino stayed on in Mexico eventually landing a job working for the startup Mercadoni, which is where he met Picard.

The two men saw the initial success of Chariot as it launched from Y Combinator, but were also tracking companies like the Indian startup Shuttl.

“We wanted to make shared mobility more accessible and a little bit more efficient,” says Albino. “We studied the economics and we studied the market and we knew there was a huge urgency in the congested cities of  Latin America.”

Unlike the U.S. — and especially major cities like San Francisco and New York — where public transportation is viewed as relatively safe and efficient, the urban environment of Mexico City is seen as not safe by the white collar workers that comprise Urbvan’s principle clientele.

The company started operating back in 2016. At the time it had five vans that it leased and retrofitted to include amenities like wi-fi and plenty of space for a limited number of passengers. Since those early days the company has expanded significantly. It now claims over 15,000 monthly users and a fleet of 180 vans.

Urbvan optimized for safety as well as comfort, according to Albino. The company has deals with WeWork, Walmart and other retailers in Mexico City so that all . of the stops on t he route are protected and safe. The company also vets its drivers and provides them with additional training because of the expanded capacity of the vans.

Each van is also equipped with a panic button and cameras inside and outside of the van for additional monitoring.

Customers either pay $3 per ticket or sign up for a monthly pass that ranges from $100 to $130.

Financing for the company came from Kaszek Ventures and Angel Ventures with previous investor Mountain Nazca also participating.

For Albino, who went to India to observe Shuttl’s operations, the global market for these kinds of services is so large that there will be many winners in each geography.

“Each city is different and you need to adapt. The technology needs to be adaptable to the city’s concerns . and where it can . add more value,” says Albino. “The Indian market is super different from Latin America.. It’s a huge market with a lot of congestion… But the value proposition is a bit more basic [for Shuttl].”

Urbvan is currently operating in Mexico City and Monterrey, but has plans to expand into Guadalajara later this year.



https://ift.tt/eA8V8J Urbvan raises $9 million for its private shuttle service in Mexico https://ift.tt/32drZAY

‘The Operators’: Finance in startups with Duda CFO Stephanie Hsiung and Zeus Living’s Head of Finance Mark Kang

Facebook rolls out new business tools for Messenger, kills the ‘Discover’ tab

Facebook today is formally rolling out a new suite of tools for its 40 million active businesses on Messenger, including appointment booking, lead generation, and others announced earlier this year at its F8 developer conference. As a part of these changes, Facebook will also begin to phase out the Discover tab in Messenger — a feature that became home to both games and businesses following last fall’s redesign.

Today, Facebook says the Discover tab will be pulled from the Messenger app over the next several months. Instead, it will invest in making sure Facebook users are directed to interact with businesses via Messenger in other ways.

“We want to make it more seamless for people to reach out to businesses on Messenger in places where they’re already looking to connect,” explains Facebook, of its decision to kill off the Discover feature. “We will put more investment into tools to connect people and businesses – including updates to m.me linksweb plugins, various entry points across our family of apps, as well as ad products – that lead to Messenger,” the company says.

In terms of its new business tools, the lead generation product will launch as a Messenger template within Facebook Ads Manager this week. The template lets businesses create automated experiences to help qualify their leads in Messenger, then continue conversations in the app or integrate with existing CRM tools to track the leads further.

The feature has been in beta following F8, but will now be publicly available.

Appointment booking was announced at F8, too, but is only now launching into beta with select developers and businesses. This feature allows businesses to accept appointment requests and make bookings in real-time through Messenger. It also integrates with existing calendar booking software, and can help Messenger conversations be turned into in-store traffic, as well as online and phone appointments, the company says.

The feature will be launched globally to all developers later in the year.

Another update mentioned today involves plans to launch improved event reporting in Messenger later this year, which will allow businesses to report and track their Messenger conversations.

Plus, Facebook says it’s updating the Standard Messaging window for businesses to 24 hours (which is how long they have to respond to inquiries from customers.) This brings it in-line with WhatsApp’s window.

messenger biz 2

After 24 hours, businesses can still use sponsored messages to re-engage customers, and message tags (e.g. updates on purchases, event reminders, changes to their account, and now in closed beta, “human agent,” which will let agents respond to issues that need resolution after the standard messaging window closes.)

Messenger’s Subscription Messaging beta program, meanwhile, is changing today as well.

It’s now going to be limited to “vetted news organizations.” This came about because some businesses were using the feature in violation of Facebook’s guidelines, the company admitted. The feature is designed to send regular news updates to subscribers. The timing of this change is somewhat interesting, as Facebook is preparing to relaunch efforts to feature top news stories on its social network, this time vetted by journalists and featuring content Facebook pays for. There’s room for some interoperability here between the news product and subscriptions/updates, but it’s not clear if or how that will come to pass.

Of course, the biggest Messenger consumer news from F8 — a desktop app for Mac and PC — hasn’t yet come to pass, but is expected sometime this year.

 

 



from Social – TechCrunch https://ift.tt/2HwwNth Facebook rolls out new business tools for Messenger, kills the ‘Discover’ tab Sarah Perez https://ift.tt/2NENtCM
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Launching from beta, ProGuides is making money ensuring that gamers never play alone

When ProGuides pulled the covers off of its service earlier this year, the young Los Angeles-based startup intended to give gamers a way to train with professional and semi-pro esports players from around the world.

But as users signed on to the service, it became clear that they weren’t looking for training necessarily… Instead what players wanted was a ringer.

“After we launched the beta, we found some interesting user behavior,” says Sam Wang. “We found that gamers who were experienced already and wanted experienced players who are better than [the matches] the game can provide… At the end of the day you do get to play with someone pretty awesome and is something that i think  can make games better.

That’s right, ProGuides is pitching a marketplace for experienced gamers so that its customers aren’t randomly matched with some noob if they can’t game with their usual partners.

“Our tagline is ‘Play with pros’ now,” says Wang. “We already have over 5,000 sessions that were played in the last two months.”

The professional gamers who list their services on the site charge an average of $10 per session and ProGuides takes about a 25% cut. The company lowers its rates for popular gamers or gamers who are willing to spend more time on the platform either selling their services or actually coaching esports players.

Wang says that that pros on the platform are making anywhere from $750 to $2500 per month and that there are currently 250 coaches on the platform.

A typical session on ProGuides lasts around 45 minutes and players are available for Fortnite, League of Legends.  Super Smash Brothers, CS:GO and Hearthstone

ProGuides raised $1.9 million in pre-seed funding last June. The company is backed by Amplify, an LA-based early stage investor and company accelerator, Quest Venture Partners, Greycroft Tracker fund and the GFR Fund.

The LA-based company also has some venture-backed competition on the East Coast. Gamer Sensei, which has raised roughly $6 million (according to CrunchBase) has a similar proposition. It’s backed by Accomplice and Advancit Capital.

Screen Shot 2019 08 29 at 9.17.36 AM



https://ift.tt/2NDbaew Launching from beta, ProGuides is making money ensuring that gamers never play alone https://ift.tt/32dOAgI

Juul introduces a new POS system to restrict sales to minors

Juul Labs, the e-cigarette behemoth partially owned by Altria, has today announced a new POS age-verification system that it will require all Juul retailers to comply with by May 2021.

The Retail Access Control Standards program, or RACS for short, raises the standard for age-restricted POS systems, automatically locking the POS each time a Juul product is scanned until a valid, adult ID is scanned. The system also looks for bulk purchases (four four-count packs of Juul Pods is the legal limit for a single transaction) and locks when the fifth Juul Pod pack is scanned, automatically removing the fifth pack from the customer’s cart.

Thus far, more than 50 retail chains, which represents 40,000 outlets, have committed to switching over to RACS, with 7,000 stores in the process of switching now and 15,000 to have implemented the technology by 2019’s end. The deadline for switching over to the RACS system is May 2021, at which point Juul will only sell its products to RACS-compliant retailers.

The company recognizes that overhauling a POS can be costly and difficult, and is offering $100 million+ in incentives to retailers who switch over. For retailers with newer POS systems, the switch might only require a software update, while others may need to update their hardware, as well.

Now, the system isn’t foolproof. After an ID is scanned, all personal information is automatically deleted from the system, which means that bad actors/unauthorized resellers could amass a bulk amount of Juul products by visiting various stores or returning to the same store multiple times.

However, this is likely just the beginning for the RACS program, which for the first time gives Juul much more control around how their products move through the market, ultimately limiting the opportunity for Juul products to end up in the hands of minors.

Alongside the introduction of RACS, Juul is also expanding the Track & Trace program it piloted in April in the Houston area.

Track and Trace allows teachers, parents, law enforcement and otherwise responsible adults to log the serial number of confiscated Juul devices, giving Juul the information it needs to track that device through the supply chain and identify the store where it was sold.

Using Juul’s 2,000 shopper-strong secret shopper program, the company can then specifically target those stores and shut down the illegal sale of Juul devices to minors.

Today, Track and Trace is expanding nationwide in the U.S.

While these are major steps in combating underage use of Juul products, the company itself admits that it believes youth vaping numbers will continue to rise.

From the release:

It is our expectation that this year’s survey, unfortunately, will likely show continued growth in youth use of vapor products in the U.S. If this turns out to be the case, it will be due in part to the fact that:

  • When this year’s NYTS data was collected, T21 laws were being passed in a dozen states but had not been implemented
  • Little to no category-wide actions have been taken as FDA is finalizing its guidance that, once implemented, should impose additional restrictions on the sale and marketing of certain flavored vapor products — actions that we voluntarily imposed on ourselves last November

In November 2018, Juul announced its Youth Prevention Plan ahead of the FDA’s crackdown on e-cig products. It included the ban of flavored Juul pod sales in convenience stores and other Juul-approved retailers, limiting the sale of non-tobacco and non-menthol flavored pods to its online storefront. Juul says this represented 50 percent of its revenue at the time. The company also took down its Facebook and Instagram pages, and revamped its Twitter to ditch any promotional or marketing content from the platform.

Still, even with the many steps the company has taken to limit youth use of the product, one of Juul’s biggest obstacles is the sale of counterfeit and infringing products, which may include dangerous and/or unknown chemicals. The company hired former Apple employee Adrian Punderson to help lead the fight against counterfeits in February.

As of December 2018, Juul was reportedly valued at $38 billion, estimated to own more than 70 percent of the e-cig market.



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