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Chaim Gartenberg / The Verge:
What to expect from Apple on Sep. 10: 3 new iPhones, Apple Watch Series 5, new Apple TV, release info for OSes, pricing and launch date for Apple Arcade, more — iPhone 11, Apple Watch Series 5, software updates, and more — It's almost iPhone time (or, as other people call it …
In 2009, Which Company’s Ill-Fated Advertising Campaign Had People Trading Facebook Friends For Coupons? |
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Think you know the answer? |
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Sean O'Neill / Skift:
Denver-based Hotel Engine, an online hotel booking and management service for business travel, raises $16M Series A at a $150M+ valuation — The funding of business travel management startup Hotel Engine underscores how there's a lot of money and energy pouring into the sector.
Catalin Cimpanu / ZDNet:
Exim servers running v4.92.1 and before are vulnerable to a security bug, patched in v4.92.2, which could allow attackers to run malicious code with root access — The internet's most popular email server impacted by second major bug this summer. — Millions of Exim servers are vulnerable …
Chance Miller / 9to5Mac:
Twitch launches a public beta of its app for Apple TV through Apple's TestFlight app testing program — Popular live game streaming service Twitch has launched a public beta of its upcoming Apple TV app through TestFlight. This marks the first time Twitch itself has launched an Apple TV application …
Wikipedia was forced offline in several countries Friday after a cyber attack hit the global encyclopedia.
Users across Europe and parts of the Middle East experienced outages shortly before 7pm, BST, according to downdetector.com.
Wikimedia’s German Twitter account posted: “The Wikimedia server…is currently being paralysed by a massive and very broad DDOS [distributed denial of service] attack.”
The site issued the following statement:
Today, Wikipedia was hit with a malicious attack that has taken it offline in several countries for intermittent periods. The attack is ongoing and our Site Reliability Engineering team is working hard to stop it and restore access to the site.
As one of the world’s most popular sites, Wikipedia sometimes attracts “bad faith” actors. Along with the rest of the web, we operate in an increasingly sophisticated and complex environment where threats are continuously evolving. Because of this, the Wikimedia communities and Wikimedia Foundation have created dedicated systems and staff to regularly monitor and address risks. If a problem occurs, we learn, we improve, and we prepare to be better for next time.
We condemn these sorts of attacks. They’re not just about taking Wikipedia offline. Takedown attacks threaten everyone’s fundamental rights to freely access and share information. We in the Wikimedia movement and Foundation are committed to protecting these rights for everyone.
Right now, we’re continuing to work to restore access wherever you might be reading Wikipedia in the world. We’ll keep you posted.”
The site was reported to be down in large parts of the UK as well as Poland, France, Germany and Italy.
TechCrunch had our debut confab for enterprise types this week at Yerba Buena Center in SF, where we heard from Aaron Levie, CEO of Box, Apple VP Susan Prescott of Apple, and Microsoft Azure CTO Mark Russinovich. We were sold out, which perhaps isn’t all that surprising given the amount of interest in enterprise these days. Expect more events to come.
Our Silicon Valley editor Connie Loizos hosted a panel with leading enterprise VCs, and she selected the most interesting points from that conversation and from her calls with them for Extra Crunch members. Hear a bit from Jason Green of Emergence Capital, Rebecca Lynn of Canvas Ventures and Maha Ibrahim of Canaan Partners and what they are investing in these days.
And if you want to hear even more from Jason Green and yours truly, head over to TechCrunch’s VC podcast Equity, where we shot live from Yerba Buena along with host Kate Clark with a special focus on enterprise startups.
Maha Ibrahim: I feel like people are focusing too much on metrics and not as much on [the total addressable market]. We make money [when a startup strikes on a] huge, huge market.
But there’s [also] so much correlation between consumer and enterprise startups in that we want customers that love the product. We want customers that come back and come back and come back to us, without us having to pay for them to come back. So the equivalent in a consumer company would be me having to spend advertising dollars to acquire that customer again, as opposed to that customer just coming back because he or she loves what I’m doing. The same goes for the enterprise.
Silicon Valley may be obsessed with using data to improve startup outcomes, but the reality is quite a bit more nuanced. Koen Bok, co-founder of interactive design tool Framer, has put together an extensive guide here on how to to use data — and when not to.
Justin Sherman / Wired:
When Cold War analogies are misapplied to emerging technologies like AI, the debate about how such technologies should be regulated gets distorted — Opinion: Politicians and pundits' fixation with flawed Cold War metaphors have produced overly combative policies on emerging tech.
Back in June Uber went on a hiring spree in New York, hiring at least 100 fintech-oriented tech workers to ostensibly look at creating products to increase loyalty and engagement among users and drivers, including things like banking. Cue a flurry of speculation. It now looks like Uber is taking baby-steps towards building such a raft of products out, potentially by offering loans directly to drivers, according to a report from Recode/Vox.
The story is based on the emergence of an in-app survey which was sent to some drivers talking about a “new financial product” aimed at drivers “in a time of need.” The survey then went on to question drivers’ use of financing loans of $1,000 or less in the last three years. It asked “what amount are you most likely to request?” It then gave them options top pick from “Less than $100,” “Between $100 and $250,” “Between $250 and $500” and “More than $500.”
At this time there’s no indication of timing on a small loans product offering to drivers, and Uber has not publicly commented on the emergence of the survey’s existence.
However, Uber already has form in this space. It has offered cash advance programs to drivers in California and Michigan, although the company was criticised for what some called “pay-day loans”. It’s also offered leases on new cars to drivers in the past and currently offers a co-branded credit card with Visa and an Uber Cash digital wallet for riders.
Uber would not be alone in rolling out small cash loans to its workers, given given that large companies such as Walmart and others already offer lucrative payroll advances and loans to employees.
But the fact that it now has a very large FinTech team suggests this won’t the end of us hearing about Uber’s tentative moves into this space.
Hello and welcome back to Startups Weekly, a weekend newsletter that dives into the week’s noteworthy startups and venture capital news. Before I jump into today’s topic, let’s catch up a bit. Last week, I noted Peloton’s secret weapons. Before that, I wrote about a new e-commerce startup, Pietra.
Remember, you can send me tips, suggestions and feedback to kate.clark@techcrunch.com or on Twitter @KateClarkTweets. If you don’t subscribe to Startups Weekly yet, you can do that here.
In one fell swoop, Stripe may disrupt the entire financial services ecosystem.
The $22 billion payments behemoth announced Stripe Capital this week, a provider of quick and easy to obtain loans for internet businesses. The company is expected to launch a card as well, according to TechCrunch’s Ingrid Lunden. What does that mean for recent upstarts like Clearbanc, a business that provides revenue-share agreements to help startups forgo selling equity to VCs, or Brex, which has created a credit card tailored for startups? Stiff competition ahead.
Led by brothers Patrick and John Collison, Stripe is known for developing payment processing software to facilitate online purchases. Doubling down on financial services, the company seeks to become the go-to capital provider to its millions of customers. In a vacuum, it’s no threat to Brex, which has quickly become a fintech darling (with a multibillion-dollar valuation to prove it) — but coupled with Stripe’s massive network, resources and the soon-to-be-announced card, it’s worth concern.
I reached out to both Brex and Clearbanc. Here’s what they had to say.
Clearbanc: “Stripe is one of our close partners because we’re both deeply committed to empowering founders. There’s a huge demand amongst founders for flexible funding that allow them to grow while retaining equity in their company, so it’s encouraging to see the growth of alternative funding options. We’re seeing this first hand — we’re investing an average of $100,000 of growth capital per brand, with other companies taking up to $10 million. New funding alternatives not only open more doors for more businesses, but data-driven platforms can also help to reduce bias and promote entrepreneurship outside of VC capitals like Silicon Valley and New York.”
Brex CEO Henrique Dubugras: “We have created a new financial stack for tech companies, and this has resulted in a very innovative product experience with lots of adoption, so it makes sense that Stripe would also pursue this fast-growing opportunity.”
We’ll share more details on the card as soon as possible.
The Wall Street Journal reported this week that the company formerly known as WeWork is considering slashing its valuation as it looks to woo public market investors. The co-working biz may hit the public markets at a valuation of somewhere in the $20 billion range for its initial public offering, a figure that’s far less than the $47 billion valuation it received when it raised its last round of private funding. Yikes…
We are just weeks away from our flagship conference, TechCrunch Disrupt San Francisco. We have dozens of amazing speakers lined up. In addition to taking in the great line-up of speakers, ticket holders can roam around Startup Alley to catch the more than 1,000 companies showcasing their products and technologies. And, of course, you’ll get the opportunity to watch the Startup Battlefield competition live. Past competitors include Dropbox, Cloudflare and Mint… You never know which future unicorn will compete next.
You can take a look at the full agenda here. Here’s a look at the panels I personally will be onstage moderating.
This week, we recorded Equity on location at TechCrunch Sessions: Enterprise in San Francisco. Our special guest was Emergence Capital founder Jason Green, who joined us to talk about the firm’s specialty: enterprise investments! Danny Crichton, the esteemed leader of TechCrunch’s Extra Crunch, was on hand to co-lead the episode with me. Listen here. And remember, Equity drops every Friday at 6:00 am PT, so subscribe to us on Apple Podcasts, Overcast, Spotify, Pocket Casts, Downcast and all the casts.
Portable Bluetooth speakers have become ubiquitous, and none are more recognizable than the popular Ultimate Ears (UE) Boom range.
The UE Wonderboom 2 is an upgrade on the original Wonderboom we thoroughly reviewed in 2018. The older version has excellent sound, battery life, and is nigh on indestructible.
This ruggedness seems to be front and center on the upgraded model. It retains its IP67 dustproof/waterproof rating even when the flap protecting the charging port is left open.
The Wonderboom 2 might seem like a great case of “if it ain’t broke, don’t fix it.” The $99.99 price hasn’t changed and it looks very similar to the original Wonderboom.
Despite this, there are a few notable upgrades. The Wonderboom 2 is slightly larger than the original measuring 10.4 cm high with a 9.5 cm diameter. This is to house an upgraded battery claiming up to 13 hours playtime—30% more than it’s predecessor.
Another reason given for the larger frame was an upgrade to the speaker for better bass response. The punchy 360 sound of the original remains, with no distortion until you reach close to max volume.
A new addition is the Outdoor Boost mode, triggered using a button on the bottom. More than just a volume boost, it also equalizes the sound to take into account the lack of reflections from indoor walls.
UE Wonderboom 2 speakers can be paired to give true stereo. If you have an original Wonderboom, they can chain together—though you won’t get an actual stereo experience.
A notable omission for some might be the charging port. The Wonderboom 2 retains its microUSB port, and in the age where USB-C is king, this might be a mild annoyance.
In use, the Wonderboom 2 sounds excellent and feels as rugged as it looks. The IFA 2019 show floor had several models, along with a tank of water to dunk them in, and a dust tank to bury them in. We were also encouraged to drop them on the show floor while in use—in short, they were confident!
This speaker isn’t going toe-to-toe with any piece of home hi-fi gear, but then again it’s not designed for that. In our review of the original Wonderboom it survived being parked on by a car. The upgraded model looks every bit as tough.
If you are looking for a near unbreakable portable speaker under $100, the UE Wonderboom 2 is going to be tough to beat.
Read the full article: Ultimate Ears Wonderboom 2: A Bombproof Bluetooth Speaker
Miele’s push towards total kitchen dominance is just getting started. The luxury appliances manufacturer recently demonstrated a trio of intelligent, connected appliances, through which it aims to take the stress out of cooking.
Miele’s latest induction hob works in conjunction with the app (available on both Android and iOS devices). This app issues instructions to the stovetop, which works in conjunction with you, the cook, and the on-board physical controls.
The premise is simple: recipes are provided through the app. There are only fifteen right now, but more are coming. When you’re ready to start cooking, the app turns the stovetop on. It heats the pan to the exact temperature required (so no more over or under cooking). It uses two temperature sensors to achieve this. The app knows how long to maintain the heat for. By following the instructions to season the dish and rotate the food, you end up with perfectly cooked, restaurant-quality food every time.
It’s possible to use the stove without the app at all, but both exist to complement each other. Buttons on the stove itself let you proceed to the next stage of the recipe, or start the timer.
The stove communicates with the hood. This hood looks like a device out of a science fiction movie. It contains a filter, extractor fan, and smart lighting. It’s also compatible with Alexa. The stove tells the hood what temperature it’s currently cooking at and the duration. The hood uses this information to intelligently enable or disable the extractor fan, along with periodically issuing bursts of fragrance.
The hood is also a work of art. It’s suspended from the ceiling through four attachment points, which also provide the mains power it needs to operate.
At IFA 2019 I experienced a live demonstration of Miele’s cook assist stove, app, and extractor hood, and it was remarkable. It all worked together seamlessly, and provided the experience we all think of when we consider technology. Of course the extractor fan should come on when you’re using the stove, yet few products actually exist to do this. Miele’s smart kitchen appliances are set to launch in April 2020, and we’re looking forward to a smart kitchen that is more than a gimmick.
Read the full article: Miele’s Smart Kitchen Appliances Work Far Better than You’d Imagine
Sean Gallagher / Ars Technica:
Internet Society-supported initiative MANRS has launched Observatory, a web tool for providing insight into how well ISPs comply with routing security standards — MANRS Observatory gives a peek inside security issues of Internet routing. — When my kids were younger …
PrimaryBid, a UK-regulated platform connecting publicly listed companies with everyday investors for discounted share issuances has previously raised $3M. It’s now upped those stakes with an $8.6M funding round, led by UK VCs Pentech and Outward VC with participation from new and existing investors. Craig Anderson, a partner at Pentech, will join the PrimaryBidBoard of Directors with Outward VC having a Board Observer seat.
This investment is representative of the trend towards unpacking complex financial investment products for the average person, especially in the UK.
The FCA-regulated platform recently made a long-term commercial agreement with Euronext, the leading pan-European exchange in the Eurozone. The partnership gives the company access to nine new geographies, with the first new site launching in France later this year.
Commenting, Anand Sambasivan, co-founder and CEO of PrimaryBid, said: “Everyday investors are a vital part of the stock market and yet unable to buy discounted share deals – a longstanding imbalance in the public markets. This is true whether it is a government selling down its holding in a large company or a quoted company is raising growth capital. Our platform addresses this challenge, giving small investors the same access as traditionally afforded to large institutional investors.”
Investors can tap into PrimaryBid’s centralizing infrastructure that allows access to everyday investors as part of a share issuance, including block sales. The inclusion of retail investors can improve pricing and liquidity outcomes for their clients. The company’s solution allows private investors to participate, at the same time and the same price, delivering open access regardless of the size of their investment. The service is free of charge for investors, from £100 upwards.
PrimaryBid doesn’t have competitors because Retail investors have not previously had access to discounted equity offerings run by investment banks. This is because the retail investment market is too fragmented, and these deals are highly time-sensitive. As a result, only clients of Investment Banks (i.e. institutional investors) could previously access these attractive deals.
So now, listed companies that want to raise more capital on the stock exchange by issuing new shares can now connect with retail investors and offer these retail investors these shares at the same discounted rates as those offered to institutional investors. “In the past, these retail investors just couldn’t access these attractive deals for these new shares,” explains Sambasivan.
Craig Anderson of Pentech said: “We believe equity capital markets infrastructure is dominated by an institutional focus and is not geared for retail investors, which unfairly restricts consumer access to the primary equity markets. PrimaryBid addresses this problem by using technology to democratize the equity capital markets to provide a new asset class to retail investors.”
Kevin Chong of Outward VC said: “By bringing publicly listed companies directly to ordinary investors, PrimaryBid addresses increasing frustrations felt by equity issuers and potentially expands global equity markets to the benefit of all players – investors, issuers and investment bank advisers.”
Pentech previously invested in Nutmeg (which recently closed a £45m funding round led by Goldman Sachs). Outward VC has previously backed Monese, Curve and Bud.
