Saturday, June 8, 2019

FAQ on how Sign In with Apple works based on information at WWDC, including details about two-factor authentication support and private email relay service (Sarah Perez/TechCrunch)

Sarah Perez / TechCrunch:
FAQ on how Sign In with Apple works based on information at WWDC, including details about two-factor authentication support and private email relay service  —  One of the bigger security announcements from Apple's Worldwide Developer Conference this week is Apple's new requirement …



from Techmeme http://bit.ly/2Is2HXr

Geek Trivia: Which Animal Carries Its Favorite Tools With It?

Which Animal Carries Its Favorite Tools With It?

  1. Gorillas
  2. Kangaroos
  3. Sea Otters
  4. Ants

Think you know the answer?



from How-To Geek http://bit.ly/2wTtG97

Apple's sign-in button, built for a post-Cambridge Analytica world, is a sign of how much tech infrastructure needs to be rebuilt as privacy expectations change (Russell Brandom/The Verge)

Russell Brandom / The Verge:
Apple's sign-in button, built for a post-Cambridge Analytica world, is a sign of how much tech infrastructure needs to be rebuilt as privacy expectations change  —  Protection against developers, not hackers  —  In 2019, Facebook isn't just a homepage; it's a passport.



from Techmeme http://bit.ly/31iVFwL

Carbon Health, which provides video and message-based virtual care through an app in addition to in-person care at seven Bay Area clinics, raises $30M Series B (MedCity News)

MedCity News:
Carbon Health, which provides video and message-based virtual care through an app in addition to in-person care at seven Bay Area clinics, raises $30M Series B  —  In addition to its seven Bay Area clinics that offer in-person care, the startup has a mobile app through which patients …



from Techmeme http://bit.ly/2KBKKIt

Former Unity VP Anne Evans has filed a lawsuit against the company for retaliation and wrongful termination, alleging CEO John Riccitiello sexually harassed her (Megan Rose Dickey/TechCrunch)

Megan Rose Dickey / TechCrunch:
Former Unity VP Anne Evans has filed a lawsuit against the company for retaliation and wrongful termination, alleging CEO John Riccitiello sexually harassed her  —  Unity Technologies, the multibillion-dollar gaming engine, is facing a lawsuit from its former VP of global talent acquisition …



from Techmeme http://bit.ly/2KBqiHL

In a communique, G20 finance ministers agreed on Saturday to compile common rules to close loopholes global tech companies use to reduce their corporate taxes (Reuters)

Reuters:
In a communique, G20 finance ministers agreed on Saturday to compile common rules to close loopholes global tech companies use to reduce their corporate taxes  —  FUKUOKA, Japan (Reuters) - Group of 20 finance ministers agreed on Saturday to compile common rules to close loopholes used …



from Techmeme http://bit.ly/2KBoVsB

Equity transcribed: What happens to late-stage VC if the Vision Fund goes away?

Welcome back to the transcribed edition of the wildly popular TechCrunch podcast, Equity. This week Kate Clark and Alex Wilhelm convened in the new studio to discuss the biggest venture capital news of the week.

There was a lot of news to get to so they started with some quick hits about Thumbtack, Bird, Scoot, Mirror and Looker. Then they got down to business and went in-depth on SoftBank’s Vision Fund and whether the money has dried up.

And folks from Social Capital are back with a new firm called Tribe Capital that looks a lot like … Social Capital.

Kate: I think the TLDR here is, if the Vision Fund doesn’t raise a Vision Fund Two, we will feel changes in the market. I think we will see deal sizes come back to earth a little bit, and I think we may see at least not increasingly large valuations, because I think that people may, especially now that it’s been a couple of years, people may underestimate the force that is a Vision Fund. We don’t have the Vision Fund, you know that obvious force that dark cloud is gone.

Alex: You’ll feel the lack. Yes. Couple of quick notes about why this might be. It isn’t just that people like Kate and I think this way. I mean, there’s been structural problems with the Vision Fund. There’s been some discussions about opacity and how it operates. How its decisions are made, and I would throw in there, there’s probably some questions about the prices it has paid. Uber managed to claw back above it’s IPO price for a hot second, and is back under it today.

Kate: And didn’t last long.

Want more Extra Crunch? Need to read this entire transcript? Then become a member. You can learn more and try it for free. 



from TechCrunch https://tcrn.ch/2Zktiwx

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London-based Realeyes, which uses AI to let brands like AT&T and Mars gauge emotions of consumers through their facial expressions, raises $12.4M Series B (Paul Sawers/VentureBeat)

Paul Sawers / VentureBeat:
London-based Realeyes, which uses AI to let brands like AT&T and Mars gauge emotions of consumers through their facial expressions, raises $12.4M Series B  —  Artificial emotional intelligence, or “emotion AI,” is emerging as a key component of the broader AI movement.



from Techmeme http://bit.ly/2K4CVfd

Luminous Computing, which aims to build a photonic chip, raises $9M seed round led by Bill Gates, with Dara Khosrowshahi, Travis Kalanick, others participating (Kirsten Korosec/TechCrunch)

Kirsten Korosec / TechCrunch:
Luminous Computing, which aims to build a photonic chip, raises $9M seed round led by Bill Gates, with Dara Khosrowshahi, Travis Kalanick, others participating  —  Luminous Computing, a one-year-old startup, is aiming to build a photonics chip that will handle workloads needed for AI at the speed of light.



from Techmeme http://bit.ly/2Wv9RUB

Everyone loves pizza, including VCs

Sometimes a person (I’m not naming names here) tires of staring at startup funding data, and her hungry mind wanders to pizza.

But ordering a pizza in real life isn’t always the best choice for such people/reporters. So instead, we’ll pivot to the next best (not really) thing: Looking at what startup investors are doing vis-à-vis the pizza industry.

Turns out, VCs and growth investors are finding lots of ways to toss money at the space. A query of Crunchbase data rolled out more than 50 companies funded in the past couple of years that mention pizza in their business descriptions. In the chart below, we slice into 10 of the most heavily funded and intriguing pizza-preneurs.

Taken together, what does this assimilation of funding data portend about the future of pizza? We’re not experts in much but consuming the stuff, but nonetheless, a few trends stand out. We outline them below.

Convenience versus quality

Many top-funded startups appear to be tackling what’s long been the Achilles heel of the pizza-industrial complex: The inverse correlation between convenience and quality.

It is a persistent conundrum. You can have pizza right away that costs very little, but it tastes like microwaved cardboard. Or you can pay the going rate and wait for a fresh pie, but that involves…well, paying and waiting.

Of course, there are all manner of variations in-between: the upscale frozen pizza, the merely adequate chain pizza, the quick, greasy slice — the list goes on. Consumers seemingly have no shortage of options. And yet we long for more.

The most heavily funded pizza startups appear to target a similar consumer desire. We want a cheap, fast, custom, fresh pizza that tastes good. MOD Pizza and LeBron James-backed Blaze Pizza are two fast-growing chains with this approach. Both serve fast-cooking thin-crust pies with a wide choice of toppings for a flat price.

Meanwhile, Silicon Valley-based Zume has raised more than $400 million to scale up a model that relies on robot-equipped mobile kitchens to bake fresh pies and deliver them to hungry customers. By cutting the cost of a retail space and automating much of the baking process, Zume is betting it can provide a tasty, fresh pie more cheaply than the competition.

Healthier choices

Most of us do not consume pizza for its health benefits. Nonetheless, there are ways to make pies less fattening, more nutrient-dense or vegan-friendly.

Startups and their backers are on to this. Case in point: Caulipower, an Encino, Calif.-based startup that makes cauliflower-based pizzas and other snacks. The two-year-old company has raised just over $10 million in early-stage funding to date.

For the vegan crowd, there’s Mooliss Vegan Cheese, a startup that sells plant-based mozzarella exclusively to pizzerias and restaurants. The New York company raised $6 million in May to get more people hooked on its coconut oil- and cashew-based cheeses.

Boosting local pizzerias

For those who prefer to patronize a beloved local pizzeria, startups have tackled that angle as well, with tools aimed at making existing pie shops thrive in the digital, on-demand age.

On this front, MyPizza Technologies, best known as the developer of the app Slice, has raised around $16 million in funding to date. Its app helps local pizza shops and their customers submit and fulfill mobile orders and payments.

Another upstart, HotBox, is focused on the hot-delivery side. The Modena, Italy company has developed a delivery box that keeps pizza hot and crunchy for the journey from shop to customer.

Takeaway: we will eat more pizza

Throwing money at the pizza space could be seen as a source of disruption — displacing existing players and supply and delivery chains.

However, the disruption should be contained if something that seems both impossible and inevitable does come to pass: We all eat more pizza.

Personally, I see a strong likelihood for increased consumption, as pizza becomes something to fill more niches. In addition to serving as a greasy, cheesy treat, pizza now also works as a semi-healthy fast casual meal option, a decadent gourmet indulgence or even a vegan snack.

Most of this does not bode well for our waistlines. But it might work out profitably for pizza-preneurs and their backers.



from TechCrunch https://tcrn.ch/2WTNMyu

How 12,000+ videos watched by a young man on YouTube since 2015 first pulled him into a far-right rabbit hole and more recently into a left-wing universe (Kevin Roose/New York Times)

Kevin Roose / New York Times:
How 12,000+ videos watched by a young man on YouTube since 2015 first pulled him into a far-right rabbit hole and more recently into a left-wing universe  —  Over years of reporting on internet culture, I've heard countless versions of Mr. Cain's story: an aimless young man — usually white …



from Techmeme http://bit.ly/2Ir2V0U

Google details the root cause behind the recent outage that caused Google Cloud to lose a third of its traffic, which affected Snapchat and YouTube among others (Brian Barrett/Wired)

Brian Barrett / Wired:
Google details the root cause behind the recent outage that caused Google Cloud to lose a third of its traffic, which affected Snapchat and YouTube among others  —  FIVE DAYS AGO, the internet had a conniption.  In broad patches around the globe, YouTube sputtered.  Shopify stores shut down.



from Techmeme http://bit.ly/2IwxodW

I like the way they've visualised a viewing history in this piece about YouTube radicalisation https://nyti.ms/14JUXsL... https://twitter.com/... (Martin Bryant/@martinsfp)

Martin Bryant / @martinsfp:
I like the way they've visualised a viewing history in this piece about YouTube radicalisation https://nyti.ms/14JUXsL... https://twitter.com/...



from Techmeme http://bit.ly/2I1oNkq

Startups Weekly: The Peloton IPO (bull vs. bear)

Hello and welcome back to Startups Weekly, a newsletter published every Saturday that dives into the week’s noteworthy venture capital deals, funds and trends. Before I dive into this week’s topic, let’s catch up a bit. Last week, I wrote about the proliferation of billion-dollar companies. Before that, I noted the uptick in beverage startup rounds. Remember, you can send me tips, suggestions and feedback to kate.clark@techcrunch.com or on Twitter @KateClarkTweets.

Now, time for some quick notes on Peloton’s confirmed initial public offering. The fitness unicorn, which sells a high-tech exercise bike and affiliated subscription to original fitness content, confidentially filed to go public earlier this week. Unfortunately, there’s no S-1 to pore through yet; all I can do for now is speculate a bit about Peloton’s long-term potential.

What I know: 

  • Peloton is profitable. Founder and chief executive John Foley said at one point that he expected 2018 revenues of $700 million, more than double 2017’s revenues of $400 million.
  • There is strong investor demand for Peloton stock. Javier Avolos, vice president at the secondary marketplace Forge, tells TechCrunch’s Darrell Etherington that “investor interest [in Peloton] has been consistently strong from both institutional and retail investors. Our view is that this is a result of perceived strong performance by the company, a clear path to a liquidity event, and historically low availability of supply in the market due to restrictions around selling or transferring shares in the secondary market.”
  • Peloton, despite initially struggling to raise venture capital, has accrued nearly $1 billion in funding to date. Most recently, it raised a $550 million Series F at a $4.25 billion valuation. It’s backed by Tiger Global Management, TCV, Kleiner Perkins and others.

 

A bullish perspective: Peloton, an early player in the fitness tech space, has garnered a cult following since its founding in 2012. There is something to be said about being an early-player in a burgeoning industry — tech-enabled personal fitness equipment, that is — and Peloton has certainly proven its bike to be genre-defining technology. Plus, Peloton is actually profitable and we all know that’s rare for a Silicon Valley company. (Peloton is actually New York-based but you get the idea.)

A bearish perspective: The market for fitness tech is heating up, largely as a result of Peloton’s own success. That means increased competition. Peloton has not proven itself to be a nimble business in the slightest. As Darrell noted in his piece, in its seven years of operation, “Peloton has put out exactly two pieces of hardware, and seems unlikely to ramp that pace. The cost of their equipment makes frequent upgrade cycles unlikely, and there’s a limited field in terms of other hardware types to even consider making. If hardware innovation is your measure for success, Peloton hasn’t really shown that it’s doing enough in this category to fend of legacy players or new entrants.”

TL;DR: Peloton, unlike any other company before it, sits evenly at the intersection of fitness, software, hardware and media. One wonders how Wall Street will value a company so varied. Will Peloton be yet another example of an over-valued venture-backed unicorn that flounders once public? Or will it mature in time to triumphantly navigate the uncertain public company waters? Let me know what you think. And If you want more Peloton deets, read Darrell’s full story: Weighing Peloton’s opportunity and risks ahead of IPO.

Anyways…

Public company corner

In addition to Peloton’s IPO announcement, CrowdStrike boosted its IPO expectations. Aside from those two updates, IPO land was pretty quiet this week. Let’s check in with some recently public businesses instead.

Uber: The ride-hailing giant has let go of two key managers: its chief operating officer and chief marketing officer. All of this comes just a few weeks after it went public. On the brightside, Uber traded above its IPO price for the first time this week. The bump didn’t last long but now that the investment banks behind its IPO are allowed to share their bullish perspective publicly, things may improve. Or not.

Zoom: The video communications business posted its first earnings report this week. As you might have guessed, things are looking great for Zoom. In short, it beat estimates with revenues of $122 million in the last quarter. That’s growth of 109% year-over-year. Not bad Zoom, not bad at all.

Must reads

We cover a lot of startup and big tech news here at TechCrunch. Sometimes, the really great features writers put a lot of time and energy into fall between the cracks. With that said, I just want to take a moment this week to highlight a few of the great stories published on our site recently:

A peek inside Sequoia Capital’s low-flying, wide-reaching scout program by Connie Loizos

On the road to self-driving trucks, Starsky Robotics built a traditional trucking business by Kirsten Korosec

The Stanford connection behind Latin America’s multi-billion dollar startup renaissance by Jon Shieber 

How to calculate your event ROI by Sarah Shewey

Why four security companies just sold for $1.5B by Ron Miller 

Scooters gonna scoot

In case you missed it, Bird is in negotiations to acquire Scoot, a smaller scooter upstart with licenses to operate in the coveted market of San Francisco. Scoot was last valued at around $71 million, having raised about $47 million in equity funding to date from Scout Ventures, Vision Ridge Partners, angel investor Joanne Wilson and more. Bird, of course, is a whole lot larger, valued at $2.3 billion recently.

On top of this deal, there was no shortage of scooter news this week. Bird, for example, unveiled the Bird Cruiser, an electric vehicle that is essentially a blend between a bicycle and a moped. Here’s more on the booming scooter industry.

Startup Capital

WorldRemit raises $175M at a $900M valuation to help users send money to contacts in emerging markets 

Thumbtack is raising up to $120M on a flat valuation

Depop, a shopping app for millennials, bags $62M

Fitness startup Mirror nears $300M valuation with fresh funding

Step raises $22.5M led by Stripe to build no-fee banking services for teens

Possible Finance lands $10.5M to provide kinder short-term loans

Voatz raises $7M for its mobile voting technology

Flexible housing startup raises $2.5M

Legacy, a sperm testing and freezing service, raises $1.5M

Equity

If you enjoy this newsletter, be sure to check out TechCrunch’s venture-focused podcast, Equity. In this week’s episode, available here, Crunchbase News editor-in-chief Alex Wilhelm and I discuss how a future without the SoftBank Vision Fund would look, Peloton’s IPO and data-driven investing.



from TechCrunch https://tcrn.ch/2ZitcFF

Amazon VP Sean Scott talks about how his team built the Scout delivery robot, which is currently in field testing, how Scout finds its way around, and more (Frederic Lardinois/TechCrunch)

Frederic Lardinois / TechCrunch:
Amazon VP Sean Scott talks about how his team built the Scout delivery robot, which is currently in field testing, how Scout finds its way around, and more  —  Earlier this year, Amazon announced its Scout sidewalk delivery robot.  At the time, details were sparse, except for the fact …



from Techmeme http://bit.ly/2WXS9s8