Monthly Archives: May 2019

Announcing TechCrunch Sessions: Enterprise this September in San Francisco

Posted by on 13 May, 2019

This post was originally published on this site

Of the many categories in the tech world, none is more ferociously competitive than enterprise. For decades, SAP, Oracle, Adobe, Microsoft, IBM and Salesforce, to name a few of the giants, have battled to deliver the tools businesses want to become more productive and competitive. That market is closing in on $500 billion in sales per year, which explains why hundreds of new enterprise startups launch every year and dozens are acquired by the big incumbents trying to maintain their edge.

Last year alone, the top 10 enterprise acquisitions were worth $87 billion and included IBM’s acquiring Red Hat for $34 billion, SAP paying $8 billion for Qualtrics, Microsoft landing GitHub for $7.5 billion, Salesforce acquiring MuleSoft for $6.5 billion and Adobe grabbing Marketo for $4.75 billion. No startup category has made more VCs and founders wildly wealthy, and none has seen more mighty companies rise faster or fall harder. That technology and business thrill ride makes enterprise a category TechCrunch has long wanted to tackle head on.

TC Sessions: Enterprise (September 5 at San Francisco’s Yerba Buena Center) will take on the big challenges and promise facing enterprise companies today. TechCrunch’s editors, notably Frederic Lardinois, Ron Miller and Connie Loizos, will bring to the stage founders and leaders from established and emerging companies to address rising questions like the promised revolution from machine learning and AI, intelligent marketing automation and the inevitability of the cloud, as well as the outer reaches of technology, like quantum and blockchain.

We’ll enlist proven enterprise-focused VCs to reveal where they are directing their early, middle and late-stage investments. And we’ll ask the most proven serial entrepreneurs to tell us what it really took to build that company, and which company they would like to create next. All throughout the show, TechCrunch’s editors will zero in on emerging enterprise technologies to sort the hype from the reality. Whether you are a founder, an investor, enterprise-minded engineer or a corporate CTO / CIO, TC Sessions: Enterprise will provide a valuable day of new insights and great networking.

Tickets are now available for purchase on our website at the early-bird rate of $395. Want to bring a group of people from your company? Get an automatic 15% savings when you purchase four or more tickets at once. Are you an early-stage startup? We have a limited number of Startup Demo Packages available for $2,000, which includes four tickets to attend the event. Students are invited to apply for a reduced-price student ticket at just $245. Additionally, for each ticket purchased for TC Sessions: Enterprise, you will also be registered for a complimentary Expo Only pass to TechCrunch Disrupt SF on October 2-4.

Interested in sponsoring TC Sessions: Enterprise? Fill out this form and a member of our sales team will contact you.

Posted Under: Tech News
Market map: the 200+ innovative startups transforming affordable housing

Posted by on 13 May, 2019

This post was originally published on this site

In this section of my exploration into innovation in inclusive housing, I am digging into the 200+ companies impacting the key phases of developing and managing housing.

Innovations have reduced costs in the most expensive phases of the housing development and management process. I explore innovations in each of these phases, including construction, land, regulatory, financing, and operational costs.

Reducing Construction Costs

This is one of the top three challenges developers face, exacerbated by rising building material costs and labor shortages.

Posted Under: Tech News
Innovations in inclusive housing

Posted by on 13 May, 2019

This post was originally published on this site

Housing is big money. The industry has trillions under management and hundreds of billions under development.

And investors have noticed the potential. Opendoor raised nearly $1.3 billion to help homeowners buy and sell houses more quickly. Katerra raised $1.2 billion to optimize building development and construction, and Compass raised the same amount to help brokers sell real estate better. Even Amazon and Airbnb have entered the fray with high-profile investments.

Amidst this frenetic growth is the seed of the next wave of innovation in the sector. The housing industry — and its affordability problem — is only likely to balloon. By 2030, 84% of the population of developed countries will live in cities.

Yet innovation in housing lags compared to other industries. In construction, a major aspect of housing development, players spend less than 1% of their revenues on research and development. Technology companies, like the Amazons of the world, spend nearly 10% on average.

Innovations in older, highly regulated industries, like housing and real estate, are part of what Steve Case calls the “third wave” of technology. VCs like Case’s Revolution Fund and the SoftBank Vision Fund are investing billions into what they believe is the future.

These innovations are far from silver bullets, especially if they lack involvement from underrepresented communities, avoid policy and ignore distributive questions about who gets to benefit from more housing.

Yet there are hundreds of interventions reworking housing that cannot be ignored. To help entrepreneurs, investors and job seekers interested in creating better housing, I mapped these innovations in this package of articles.

To make sense of this broad field, I categorize innovations into two main groups, which I detail in two separate pieces on Extra Crunch. The first (Part 1) identifies the key phases of developing and managing housing. The second (Part 2) section identifies interventions that contribute to housing inclusion more generally, such as efforts to pair housing with transit, small business creation and mental rehabilitation.

Unfortunately, many of these tools don’t guarantee more affordability. Lowering acquisition costs, for instance, doesn’t mean that renters or homeowners will necessarily benefit from those savings. As a result, some tools likely need to be paired with others to ensure cost savings that benefit end users — and promote long-term affordability. I detail efforts here so that mission-driven advocates as well as startup founders can adopt them for their own efforts.


Topics We Explore

Today:

Coming Tomorrow:

  • Part 2. Other contributions to housing affordability

    • Social Impact Innovations
    • Landlord-Tenant Tools
    • Innovations that Increase Income
    • Innovations that Increase Transit Accessibility and Reduce Parking
    • Innovations that Improve the Ability to Regulate Housing
    • Organizations that Support the Housing Innovation Ecosystem
    • This Is Just the Beginning
    • I’m Personally Closely Watching the Following Initiatives
    • The Limitations of Technology
    • Move Fast and Protect People


Please feel free to let me know what else is exciting by adding a note to your LinkedIn invite here.

If you’re excited about this topic, feel free to subscribe to my future of inclusive housing newsletter by viewing a past issue here.

Posted Under: Tech News
Slack aims to be the most important software company in the world, says CEO

Posted by on 13 May, 2019

This post was originally published on this site

Slack this morning disclosed estimated preliminary financial results for the first quarter of 2019 ahead of a direct listing planned for June 20.

Citing an addition of paid customers, the workplace messaging service posted revenues of about $134 million, up 66 percent from $81 million in the first quarter of 2018. Losses from operations increased from $26 million in Q1 2018 to roughly $39 million this year.

In addition to filing updated paperwork, the Slack executive team gathered on Monday to make a final pitch to potential shareholders, emphasizing its goal of replacing email within enterprises across the world.

“People deserve to do the best work of their lives,” Slack co-founder and chief executive officer Stewart Butterfield said in a video released alongside a livestream of its investor day event. “This desire of feeling aligned with your team, of removing confusion, of getting clarity; the desire for support in doing the best work of your life, that’s universal, that’s deeply human. It appeals to people with all kinds of roles, in all kinds of industries, at all scales of organization and all cultures.”

“We believe that whoever is able to unlock that potential for people … is going to be the most important software company in the world. We aim to be that company,” he added.”

Slack, valued at more than $7 billion with its last round of venture capital funding, plans to list on the NYSE under the ticker symbol “SK.”

The business filed to go public in April as other well-known tech companies were finalizing their initial public offerings. Following Uber’s disastrous IPO last week, public and private market investors alike will be keeping a close-eye on Slack’s stock market performance, which may determine Wall Street’s future appetite for Silicon Valley’s unicorns.

Though some of the recent tech IPOs performed famously, like Zoom, Uber and Lyft’s performance has served as a cautionary tale for going out in poor market conditions with lofty valuations. Uber began trading last week at below its IPO price of $45 and is today down significantly at just $36 per share. Lyft, for its part, is selling for $47.5 apiece today after pricing at $72 per share in March.

Slack isn’t losing billions per year like Uber but it’s also not as close to profitability as expected. In the year ending January 31, 2019, Slack posted a net loss of $138.9 million and revenue of $400.6 million. That’s compared to a loss of $140.1 million on revenue of $220.5 million for the year ending January 31, 2018. In its S-1, the company attributed its losses to scaling the business and capitalizing on its market opportunity.

Workplace messaging startup Slack said Monday, February 4, 2019 it had filed a confidential registration for an initial public offering, becoming the latest of a group of richly valued tech enterprises to look to Wall Street. (Photo by Eric BARADAT / AFP) (Photo credit should read ERIC BARADAT/AFP/Getty Images)

Slack currently boasts more than 10 million daily active users across more than 600,000 organizations — 88,000 on the paid plan and 550,000 on the free plan.

Slack has been able to bypass the traditional roadshow process expected of an IPO-ready business, opting for a path to Wall Street popularized by Spotify in 2018. The company plans to complete a direct listing, which allows companies to forgo issuing new shares and instead sell existing shares held by insiders, employees and investors directly to the market, in mid-June. The date, however, is subject to change.

Slack has previously raised a total of $1.2 billion in funding from investors, including Accel, Andreessen Horowitz, Social Capital, SoftBank, Google Ventures and Kleiner Perkins.

Posted Under: Tech News
Mailchimp expands from email to full marketing platform, says it will make $700M in 2019

Posted by on 13 May, 2019

This post was originally published on this site

Mailchimp, a bootstrapped startup out of Atlanta, Georgia, is known best as a popular tool for organizations to manage their customer-facing email activities — a profitable business that its CEO told TechCrunch has now grown to around 11 million customers and is on track for $700 million in revenue in 2019.

To help hit that number, Mailchimp is taking the wraps off a significant update aimed at catapulting it into the next level of business services. Beginning later this week, Mailchimp will start to offer a full marketing platform aimed at smaller organizations.

Going beyond email, the new platform will feature technology to record and track customer leads, the ability to purchase domains and build sites, ad retargeting on Facebook and Instagram, social media management and business intelligence that leverages a new move in the artificial intelligence to provide recommendations to users on how and when to market to whom.

When the service goes live on Wednesday, Mailchimp also plans a pretty significant shift of its pricing into four tiers of free, $9.99/month, $14.99/month or $299/month (up from the current pricing of free, $10/month, $199/month) — with those fees scaling depending on usage and features.

(Existing paid customers maintain current pricing structure and features for the time being and can move to the new packages at any time, the company said. New customers will sign up to the new pricing starting May 15.)

The expansion is part of a longer-term strategic play to widen Mailchimp’s scope by building more services for the typically-underserved but collectively large small business segment. Even as multinationals like Amazon and other large companies continue to feel like they are eating up the mom-and-pop independent business model, SMBs continue to make up 48 percent of the GDP in the US.

And within that, marketing is one of those areas that small businesses might not have invested in much traditionally but are increasingly turning to as so much transactional activity has moved to digital platforms — be it smartphones, computers, or just the tech that powers the TV you watch or music you listen to.

In March, we reported that Mailchimp quietly acquired a small Shopify competitor called LemonStand to start to build more e-commerce tools for its users. And the new marketing platform is the next step in that strategy.

“We still see a big need for small businesses to have something like this,” Ben Chestnut, Mailchimp’s co-founder and CEO, said in an interview. Enterprises have a range of options when it comes to marketing tools, he added, “but small businesses don’t.” The mantra for many building tech for the SMB sector has traditionally been “dumbed down and cheap,” in his words. “We agreed that cheap was good, but not dumbed down. We want to empower them.”

The new services launch also comes at a time when an increasing number of companies are closing in on the small business opportunity, with e-commerce companies like Square, Shopify and PayPal also widening their portfolio of products. (These days, Square is a Mailchimp partner, Shopify is not.)

Marketing is something that Mailchimp had already been dabbling with over the last two years — indeed, customer-facing email services is essentially a form of marketing, too. Other launches have included a Postcards service, offering companies very simple landing pages online (about 10 percent of Mailchimp’s customers do not have their own web sites, Chestnut said), and a tool for companies to create Google, Facebook and Instagram ads.

Mailchimp itself has a big marketing presence already: it says that daily, more than 1.25 million e-commerce orders are generated through Mailchimp campaigns; over 450 million e-commerce orders were made through Mailchimp campaigns in 2018; and its customers have sold over $250 million in goods through multivariate + A/B campaigns run through Mailchimp.

There are clearly a lot of others vying to be the go-to platform for small businesses to do their business — “Google, Facebook, a lot of the big players see the magic and are moving to the space more and more,” Chestnut said — but Mailchimp’s unique selling point — or so it hopes — is that it’s the platform that has no vested interests in other business areas, and will therefore be as focused as the small businesses themselves are. That includes, for example, no upcharging regardless of the platform where you choose to run a campaign.

“We are Switzerland,” Chestnut said.

Posted Under: Tech News
India’s Locus raises $22 million to expand its logistics management business

Posted by on 13 May, 2019

This post was originally published on this site

Locus, an Indian startup that uses AI to help businesses map out their logistics, has raised $22 million in Series B funding to expand its operations in international markets.

The financing round for the four-year-old startup was led by Falcon Edge Capital and Tiger Global Management . Existing investors Exfinity Venture Partners and Blume Ventures also participated in the round. The startup has raised $29 million to date, Nishith Rastogi, co-founder and CEO of Locus, told TechCrunch in an interview.

Locus works with companies that operate in FMCG, logistics, and e-commerce spaces. Some of its clients include Tata Group companies, Myntra, BigBasket, Lenskart, and Bluedart. It helps these clients automate their logistics workload — tasks such as planning, organizing, transporting and tracking of inventories, and finding the best path to reach a destination — that have traditionally required intensive human labor.

“Say a Lenskart representative is visiting a house or an office to offer an eye checkup, and suddenly two more people there are interested in getting their eyes checked. The representative could attend these two new potential clients, or wrap things up with the first client and take care of his or her next appointment,” said Rastogi.

Locus looks at a client’s past data, identifies patterns, and automates these kind of decisions on a large scale. In an example shared earlier with TechCrunch, Rastogi talked about how Locus had built a scanner for ecommerce companies for measuring products.

Rastogi said he will use the fresh capital to develop products and expand Locus in Southeast Asian and North American markets. The startup says half of its 110 people workforce is outside of India. Half of the IP it has built and the revenue it generates comes from its team outside of India.

He said the startup has spent the recent quarters studying these international markets, and has secured some anchor clients to expand the business. Locus is operationally profitable already and any additional capital goes into expanding its business, he added.

The logistics market in India has long been riddled with challenges. A growing number of startups, including BlackBuck — which raised $150 million last week — have emerged in recent years to tackle these problems.

The new funding also illustrates Tiger Global Management’s new strategy for the Indian market. The VC fund, which has invested in B2C businesses Flipkart and Ola in India, has made a number of investments in B2B startups in recent months. Last month, it invested $90 million in agri-tech supply chain startup Ninjacart, and weeks later, it gave cloud-based solutions provider Zenoti $50 million.

Posted Under: Tech News
Cisco open sources MindMeld conversational AI platform

Posted by on 9 May, 2019

This post was originally published on this site

Cisco announced today that it was open-sourcing the MindMeld conversation AI platform, making it available to anyone who wants to use it under the Apache 2.0 license.

MindMeld is the conversational AI company that Cisco bought in 2017. The company put the technology to use in Cisco Spark Assistant later that year to help bring voice commands to meeting hardware, which was just beginning to emerge at the time.

Today, there is a concerted effort to bring voice to enterprise use cases, and Cisco is offering the means for developers to do that with the MindMeld tool set. “Today, Cisco is taking a big step towards empowering developers with more comprehensive and practical tools for building conversational applications by open-sourcing the MindMeld Conversational AI Platform,” Cisco’s head of machine learning Karthik Raghunathan wrote in a blog post.

The company also wants to make it easier for developers to get going with the platform, so it is releasing the Conversational AI Playbook, a step-by-step guide book to help developers get started with conversation-driven applications. Cisco says this is about empowering developers, and that’s probably a big part of the reason.

But it would also be in Cisco’s best interest to have developers outside of Cisco working with and on this set of tools. By open-sourcing them, the hope is that a community of developers, whether Cisco customers or others, will begin using, testing and improving the tools; helping it to develop the platform faster and more broadly than it could, even inside an organization as large as Cisco.

Of course, just because they offer it doesn’t necessarily automatically mean the community of interested developers will emerge, but given the growing popularity of voice-enabled used cases, chances are some will give it a look. It will be up to Cisco to keep them engaged.

Cisco is making all of this available on its own DevNet platform starting today.

Posted Under: Tech News
AWS remains in firm control of the cloud infrastructure market

Posted by on 9 May, 2019

This post was originally published on this site

It has to be a bit depressing to be in the cloud infrastructure business if your name isn’t Amazon. Sure, there’s a huge, growing market, and the companies behind Amazon are growing even faster. Yet it seems no matter how fast they grow, Amazon remains a dot on the horizon.

It seems inconceivable that AWS can continue to hold sway over such a large market for so long, but as we’ve pointed out before, it has been able to maintain its position through true first-mover advantage. The other players didn’t even show up until several years after Amazon launched its first service in 2006, and they are paying the price for their failure to see the way computing would change the way Amazon did.

They certainly see it now, whether it’s IBM, Microsoft or Google, or Tencent and Alibaba, both of which are growing fast in the China/Asia markets. All of these companies are trying to find the formula to help differentiate themselves from AWS and give them some additional market traction.

Cloud market growth

Interestingly, even though companies have begun to move with increasing urgency to the cloud, the pace of growth slowed a bit in the first quarter to a 42 percent rate, according to data from Synergy Research, but that doesn’t mean the end of this growth cycle is anywhere close.

Posted Under: Tech News
Against the Slacklash

Posted by on 9 May, 2019

This post was originally published on this site

Such hate. Such dismay. “How Slack is ruining work.” “Actually, Slack really sucks.” “Slack may actually be hurting your workplace productivity.” “Slack is awful.” Slack destroys teams’ ability to think, plan & get complex work out the door.” “Slack is a terrible collaboration tool.” “Face it, Slack is ruining your life.”

Contrarian view: Slack is not inherently bad. Rather, the particular way in which you are misusing it epitomizes your company’s deeper problems. I’m the CTO of a company which uses Slack extensively, successfully, and happily — but because we’re a consultancy, I have also been the sometime member of dozens of others’ Slack workspaces, where I have witnessed all the various flavors of flaws recounted above. In my experience, those are not actually caused by Slack.

Please note that I am not saying “Slack is just a tool, you have to use it correctly.” Even if that were so, a tool which lends itself so easily to being used so badly would be a bad tool. What I’m saying is something more subtle, and far more damning: that Slack is a mirror which reflects the pathologies inherent in your workplace. The fault, dear Brutus, is not in our Slacks, but in ourselves.

Posted Under: Tech News
Docpack offers a simple, enterprise-friendly way to share documents

Posted by on 9 May, 2019

This post was originally published on this site

Docpack is offering businesses a simple way to share their documents — particularly with customers at large enterprises that may block services like Dropbox or Google Drive.

Founder and CEO Rurik Bradbury said he encountered this issue while serving as the head of conversational strategy at LivePerson (he’s also been as an executive and/or co-founder at Trustev and Unison Technologies, and he oeprates operating the beloved Prof Jeff Jarviss parody account). Many of the largest companies that LivePerson was working with just wouldn’t accept file-sharing links, so “we had to print out things and FedEx things” — and in at least one case, ship Android tablets pre-loaded with documents.

Apparently this is a broader issue, with research suggesting that services like Box, Dropbox and Google Drive remain among the most blacklisted apps by enterprise IT departments.

In particular, Bradbury said companies are worried about “full, two-way file sharing,” so he found a way around it by “building these microsites for each company,” where someone could download documents. From the IT perspective, they just regular websites, with no capabilities for employees to share documents back, so they stayed off the blacklists.

The problem with microsites, however, is that they’re “not scalable.” So with Docpack, Bradbury aims to make it quick and easy to create them for a wide range of clients. He compared his approach to website builders like Wix and Squarespace, “Where you can make a website even if you’re not technical.”

Docpack Screenshot

Similarly, it should only take Docpack users a few clicks to create a new microsite, add customized branding and upload documents. These documents can be protected with security that limits access to users with a specific company email domain, and the publisher can also track which documents are actually getting downloaded.

Docpack has raised less than $500,000 in funding from Asian accelerator Zeroth, Trustev founder Pat Phelan and other individuals.

The startup’s standard plan costs $10 per seat. Bradbury suggested that the service could be useful across sales, business development and marketing: “There’s a huge amount of business transacted via document-sharing.” He also suggested that PR professionals and journalists could use it to share documents, and he’s offering free accounts for credentialed journalists.

As for competition from the big file-sharing services, Bradbury suggested that as they try to accommodate enterprise needs, they’re creating “a product that’s stretched out, that was not really designed at all for cross-company sharing.”

“This is a big enough space … that it deserves its own thing,” he added.

Posted Under: Tech News
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