Year: 2019

16 Jan 2019

Niantic finalizes its Series C at $245M with a valuation of nearly $4B

We’ve known since around December that Niantic (the company behind Pokémon GO and the soon to be released Harry Potter Wizards Unite) was in the middle of raising a ton of money for its Series C round. At the time, it looked like it’d come in around $200M dollars.

The company has just officially announced the round, disclosing the final amount: $245 million.

Niantic says that the round was led by IVP, and backed by aXiomatic Gaming, Battery Ventures, Causeway Media Partners, CRV, and Samsung Ventures. They also confirmed that the company’s current valuation is “nearly” $4 billion, as rumored when word of the round was first floating around.

This raise comes just as Niantic is plotting out its next steps post overwhelming Pokémon success. It’s just about to launch another game based on massively nostalgic IP with Wizards Unite, all while working on slowly opening up its armory of AR frameworks (and its massive database of locational points of interest) for third-party developers to build upon.

16 Jan 2019

Get a TechCrunch Sessions: Robotics + AI demo table while you can

Innovation’s leading-edge lives at the intersection of robotics and AI. What could possibly be more exciting than attending TechCrunch Sessions: Robotics + AI on April 18 — where you’ll spend a full day immersed in these world-changing technologies?

Well, you could showcase your early-stage startup to nearly 1,000 of the best minds in robotics and AI. Yeah, that’s pretty awesome, too. All you need to do is buy a demo table before they sell out, so don’t delay. Oh, and the $1,500 price tag also includes three attendee tickets, so you can bring your tribe.

We’re not hyperbolizing about the titanic talent at TC Sessions: Robotics + AI. Speakers at our previous events at Berkeley and MIT have included technologists, founders and investors, including the likes of Ayanna Howard (Georgia Tech), Rob Coneybeer (Shasta Ventures), Helen Greiner (CyPhyWorks), Tye Brady (Amazon Robotics), Ken Goldberg (UC Berkeley) and so many others.

These are just some of the doers, movers and shakers that can make an early-stage startup founder’s dream come true. This event provides an exceptional opportunity to demo your product in front of a very smart, very large and very targeted audience. This year’s lineup (a work in progress) will not disappoint.

Here’s what else you can expect at TC Sessions: Robotics + AI. TechCrunch editors will host a full day of interviews and demos (like this one) on the main stage. And we’ll have workshops and other demos running in parallel. Want to know more? Check out the full coverage from last year. And, as always, there will be plenty of opportunity for world-class networking.

Here are essential housekeeping details you need to know. TechCrunch Sessions: Robotics + AI takes place at UC Berkeley’s Zellerbach Hall on April 18, 2019. Right now, early-bird tickets cost $249, and if you’re a student, you get in for $45.

Don’t miss a spectacular day-long event focused exclusively on robotics and AI. Come learn, teach, demo and network. And buy your tickets and a demo table now before it’s too late. We can’t wait to see you there!

16 Jan 2019

Infor lands $1.5 billion investment ahead of possible IPO

Infor, a NYC-based enterprise software company, announced a massive $1.5 billion investment today that could be the precursor to an IPO down the road. One analyst is estimating that the valuation could be at least $60 billion.

The investment is being led by Koch Industries’ investment arm, Koch Equity Development, and Golden Gate Capital. Today’s investment comes on top of a $2 billion+ cash infusion from Koch in 2017, bringing the total raised to at least more than $3.5 billion. That’s a lot of cash.

Infor may be the largest company you never heard of with over 17,000 employees and over 9500 customers in more than 100 countries worldwide. All of those customers generated $3 billion in revenue in 2018. That’s a significant presence.

Ray Wang, founder and principal analyst at Constellation Research, told TechCrunch that based on that revenue, he believes the valuation could be in the neighborhood of $60 billion. He based that on $3 billion in revenue, while using Oracle and SAP as similar industry comparisons. These companies have 20X price/earnings ratio. He adds, that would make it the largest tech IPO ever for NYC tech company if that comes to pass. Infor would not confirm this number with a spokesperson telling TechCrunch, “We cannot comment on value at this time.”

What does this company do to achieve this size and scope? It’s not unlike many other large enterprise companies, says Wang. It produces cloud software solutions around typical enterprise needs such CRM, ERP and Supply Chain Asset Management.

Daniel Newman, principal analyst at Futurum Research says that Infor, has grown rapidly through a series of acquisitions and an unusual approach to enterprise software. “What makes its approach to enterprise software unique is that rather than building software and then attempting to customize it for the unique [customer] needs, Infor takes an industry-based approach that incorporates both subtle and material capabilities to address specific industry needs that more generic ERP tools aren’t capable of out of the box,” Newman told TechCrunch.

He adds that this difference is attractive to many companies seeking ERP and Enterprise Asset Management tools that are built with their business in mind rather than completely customizing a software designed for any business in any industry.

As it turns out, Koch isn’t just an investor, it’s an Infor customer. “Koch was a customer of Infor before we became an investor in the company, and Koch Industries’ companies continue to move their most mission critical applications to Infor CloudSuites,” Jim Hannan, Executive Vice President and CEO for Enterprises at Koch Industries said in a statement.

The company, which was founded way back in 2002, has been shifting to the cloud over the last five years. It reports that over 70 percent of its revenue is now derived from cloud products, fueled in part by an aggressive acquisition strategy.

Note: There is an investor call shortly. We will update the story with any pertinent information after the call.

16 Jan 2019

China accounted for nearly half of app downloads in 2018, 40% of consumer spend

Global app downloads topped 194 billion in 2018, up 35 percent from 2016, according to App Annie’s annual “State of Mobile 2019” report released today. Consumer spending across app stores was up 75 percent to reach $101 billion. The report, which analyzes trends across iOS, Android and the third-party Android stores in China combined, follows the company’s earlier report released at year-end, which looked at downloads and spending across just iOS and Google Play.

It also shows how significant China’s role has become in terms of the global app market.

Based on data from the beginning of the year through December 15, 2018, App Annie’s earlier year-end report estimated that global app downloads in 2018 would surpass 113 billion, across iOS and Google Play, and consumer spending would surpass $76 billion.

While the addition of the third-party Android app stores boosted these numbers in the new report, China’s contribution to the app market goes far beyond just the bump those stores provided.

According to the “State of Mobile” report, China accounted for nearly 50 percent of total downloads in 2018 across iOS and the third-party stores, despite the slowdown related to a nine-month long game license freeze in the country. China also accounted for nearly 40 percent of consumer spending in 2018.

Emerging markets played a role in fueling downloads, as well, accounting for three out of the top five markets for downloads (India, Brazil, and Indonesia). Download growth in the U.S., meanwhile, has slowed.

Developing markets played little role in consumer spend, however. Instead the countries contributing the most on that front were (in order): China, the U.S., Japan, South Korea, and the U.K.

However, despite China’s outsized contributions to both downloads and spending, Chinese users don’t have the most apps installed on their phone compared with other countries. Because of the prevalence of low-cost Android devices with limited storage, users in China have just over 50 apps installed, on average. But those in the U.S., South Korea, Japan and Australia, have over 100.

China’s influence on the market can also be seen in the 2018 year-end report released by Sensor Tower today.

It found that Chinese mobile gaming giant Tencent was the global leader for overall revenue across iOS and Android, not counting the third-party Android app stores. It was also the leader in game revenue.

Tencent topped the non-game app chart for 2018, too, with its Tencent Video app clocking in at No. 3.

Other Chinese apps made the year-end charts, too, including online video platform iQIYI which was the No. 4 non-game app, in terms of overall revenue; and ByteDance’s TikTok, which was the No. 4 non-game for 2018. Other high-ranking apps included UC Browser, QQ, Youku, and Tencent’s PUBG Mobile.

TikTok is still growing rapidly, too, having had its best quarter ever in Q4 2018, where it was the No. 3 app by downloads across both iOS and Google Play, and the most-downloaded app on iOS.

 

16 Jan 2019

EVs and online marketplaces thrive despite slump in Chinese car sales

China’s massive auto market hit the brakes last year as trade tensions and a softening economy dampened consumer confidence, but one segment soared on account of increasing internet penetration — used car sales.

New passenger car sales fell to 23.7 million last year, representing a 4.1 year-over-year drop according to a new report by China’s Association of Automobile Manufacturers, the country’s top auto association. That marks the very first annual decline in the world’s biggest car market since the 1990s.

A few factors were at play. For one, the tit-for-tat U.S.-China trade war has led to a slew of tariffs on U.S. car imports and weighed on consumers. The standoff prompted Tesla to cut prices for Model 3 in China and Jaguar Land Rover to temporarily close a factory after sales plummeted in the country. Internally, China is coping with a cooling economy that has undermined consumer demand across a spectrum of sectors. Regulators have also rolled back a tax-cut scheme on smaller cars that began in 2017.

Despite the overall industry slowdown, electric and hybrid vehicles continued to enjoy a healthy growth rate at 61.7 percent to clock sales of 1.26 million new units. That comes as expected as China is aiming to cut carbon footprints and lead in the global alternative energy revolution by splurging on subsidies for both consumers and manufacturers. But stumbling blocks remain for the budding industry, such as a lack of charging stations. Beijing is also mulling subsidy cuts on EVs to temper overcapacity in the long term.

As consumers tighten their purse strings amid the economic downturn, cheaper secondhand cars become more appealing. China’s Automobile Dealers Association shows that secondhand car sales reached 12.6 million for the first 11 months of 2018, marking a 13 percent growth.

The sector is only half the size of new cars, but a string of e-commerce channels are fueling the industry in a country where in-person transactions were still the norm just a few years ago. For one thing, online marketplaces inject honesty to the car-buying process by claiming to provide more price transparency for customers. A major turning point came in 2017 when China lifted constraints on cross-provincial used car deals, which means customers in less developed regions — many of whom never owned a car before — now have access to a greater variety of models compared to what’s available in their hinterland homelands.

Some of the top players in the space include Didi Chuxing-backed Renrenche, Tencent-backed Guazi and Uxin, which floated on the Nasdaq last year and recently entered a strategic partnership with Alibaba. In 2017, e-commerce transactions accounted for 17.6 percent of overall car sales in the country, a study from Uxin’s research institute found.

“Over the past few years, consumers have become increasingly receptive to buying used cars as a cost-effective alternative to new vehicles. This is particularly the case for consumers in lower-tier cities,” said Kun Dai, founder and chief executive officer of Uxin . “With extremely limited used car selection in most cities, there is a rapidly growing demand for an online platform that expands access to used cars from across the country.”

16 Jan 2019

HyperScience, the machine learning startup tackling data entry, raises $30 million Series B

HyperScience, the machine learning company that turns human readable data into machine readable data, has today announced the close of a $30 million Series B funding round led by Stripes Group, with participation from existing investors FirstMark Capital and Felicis Ventures, as well as new investors Battery Ventures, Global Founders Fund, TD Ameritrade and QBE.

HyperScience launched out of stealth in 2016 with a suite of enterprise products focused on the healthcare, insurance, finance and government industries. The original products were HSForms (which handled data-entry by converting hand-written forms to digital), HSFreeForm (which did a similar function for hand-written emails or other non-form content) and HSEvaluate (which could parse through complex data on a form to help insurance companies approve or deny claims by pulling out all the relevant info).

Now, the company has combined all three of those products into a single product called HyperScience. The product is meant to help companies and organizations reduce their data-entry backlog and better serve their customers, saving money and resources.

The idea is that many of the forms we use in life or in the workplace are in an arbitrary format. My bank statements don’t look the same as your bank statements, and invoices from your company might look different than invoices from my company.

HyperScience is able to take those forms and pipe them into the system quickly and easily, without help from humans.

Instead of charging by seat, HyperScience charges by documents, as the mere use of HyperScience should mean that fewer humans are actually “using” the product.

The latest round brings HyperScience’s total funding to $50 million, and the company plans to use a good deal of that funding to grow the team.

“We have a product that works and a phenomenally good product market fit,” said CEO Peter Brodsky. “What will determine our success is our ability to build and scale the team.”

16 Jan 2019

Techstars will build and launch startups with new venture studio

Similar to Y Combinator, early-stage technology startup accelerator Techstars has spent much of the last decade supporting and seeding innovative projects, including Plated, ClassPass, SendGrid and PillPack. Now, it wants to take its service a step further.

Today, Techstars is announcing the launch of Techstars Studio, a new venture that will have the accelerator developing and launching venture-scale businesses with the support of several corporate partners. Leveraging its large network of entrepreneurs, Techstars has invited large companies to co-create startups targeting specific challenges within their industry. Techstars says it has signed on 25 corporate partners so far, each of which will pay an annual membership fee to access an early look at the Techstars Studio projects, as well as updates from the team, as concepts transition into prototypes then to full-fledged companies.

Techstars Studio plans to complete four full spin-outs per year and will identify talent from within its network to lead each venture. The companies will be seeded with a varying amount of capital depending on the business’s needs.

The news is the latest in a series of developments from within Techstars that illustrate the accelerator’s bid to marry corporations and the startup ecosystem. On top of the startup studio, Techstars announced in September a Network Engagement Program, which offers concierge-style connections for corporations looking to build relationships with startups and a 54-hour Innovation Bootcamp, which teaches corporate employees “to rapidly identify and validate solutions for critical business problems.”

“We think of ourselves as the worldwide network that helps entrepreneurs succeed — this will help entrepreneurs in our world be successful,” Techstars co-founder and co-chief executive officer David Cohen told TechCrunch. “We have the history and the talent to do it but this is new for us, so we have to build that muscle.”

Cohen will lead the studio along with portfolio co-founder Isaac Saldana, who will serve as chief technology officer. Saldana co-founded Techstars-backed SendGrid, an email platform acquired by Twilio for $2 billion in October. Mike Rowan, SendGrid’s former vice president, and Sabrina Kelly, Techstars VP of talent, have also joined the new effort.

A slew of Techstars-backed founders have also signed on to advise the projects, including the founders of Remitly, Sphero and DataRobot.

Founded in 2006, Techstars now operates 44 programs in 14 countries with more than 1,600 companies in its portfolio.

16 Jan 2019

DoorDash is officially live in all 50 states

Hot off the heels of a $250 million funding round and a lofty $4 billion valuation, DoorDash is launching in an additional six markets. As of today, the service is live in Anchorage, Alaska; Billings, Bozeman and Missoula, Montana; Sioux Falls, South Dakota; Fargo, North Dakota; Morgantown and Huntington, West Virginia; and Cheyenne, Wyoming, making it the first on-demand food delivery startup to operate in all 50 U.S. states.

“In the past year alone we’ve more than quintupled our geographic footprint from 600 to 3,300 cities across North America, democratizing access to door-to-door delivery for hundreds of millions of Americans across the nation,” DoorDash co-founder and chief executive officer Tony Xu said in a statement.

Founded in 2013, San Francisco-based DoorDash has raised nearly $1 billion in venture capital funding from SoftBank, Sequoia, Coatue Management, DST Global, Kleiner Perkins, Khosla Ventures, CRV and several others.

16 Jan 2019

Most Facebook users still in the dark about its creepy ad practices, Pew finds

A study by the Pew Research Center suggests most Facebook users are still in the dark about how the company tracks and profiles them for ad-targeting purposes.

Pew found three-quarters (74%) of Facebook users did not know the social networking behemoth maintains a list of their interests and traits to target them with ads, only discovering this when researchers directed them to view their Facebook ad preferences page.

A majority (51%) of Facebook users also told Pew they were uncomfortable with Facebook compiling the information.

While more than a quarter (27%) said the ad preference listing Facebook had generated did not very or at all accurately represent them.

The researchers also found that 88% of polled users had some material generated for them on the ad preferences page. Pew’s findings come from a survey of a nationally representative sample of 963 U.S. Facebook users ages 18 and older which was conducted between September 4 to October 1, 2018, using GfK’s KnowledgePanel.

In a senate hearing last year Facebook founder Mark Zuckerberg claimed users have “complete control” over both information they actively choose to upload to Facebook and data about them the company collects in order to target ads.

But the key question remains how Facebook users can be in complete control when most of them they don’t know what the company is doing. This is something U.S. policymakers should have front of mind as they work on drafting a comprehensive federal privacy law.

Pew’s findings suggest Facebook’s greatest ‘defence’ against users exercising what little control it affords them over information its algorithms links to their identity is a lack of awareness about how the Facebook adtech business functions.

After all the company markets the platform as a social communications service for staying in touch with people you know, not a mass surveillance people-profiling ad-delivery machine. So unless you’re deep in the weeds of the adtech industry there’s little chance for the average Facebook user to understand what Mark Zuckerberg has described as “all the nuances of how these services work”.

Having a creepy feeling that ads are stalking you around the Internet hardly counts.

At the same time, users being in the dark about the information dossiers Facebook maintains on them, is not a bug but a feature for the company’s business — which directly benefits by being able to minimize the proportion of people who opt out of having their interests categorized for ad targeting because they have no idea it’s happening. (And relevant ads are likely more clickable and thus more lucrative for Facebook.)

Hence Zuckerberg’s plea to policymakers last April for “a simple and practical set of — of ways that you explain what you are doing with data… that’s not overly restrictive on — on providing the services”.

(Or, to put it another way: If you must regulate privacy let us simplify explanations using cartoon-y abstraction that allows for continued obfuscation of exactly how, where and why data flows.)

From the user point of view, even if you know Facebook offers ad management settings it’s still not simple to locate and understand them, requiring navigating through several menus that are not prominently sited on the platform, and which are also complex, with multiple interactions possible. (Such as having to delete every inferred interest individually.) 

The average Facebook user is unlikely to look past the latest few posts in their newsfeed let alone go proactively hunting for a boring sounding ‘ad management’ setting and spending time figuring out what each click and toggle does (in some cases users are required to hover over a interest in order to view a cross that indicates they can in fact remove it, so there’s plenty of dark pattern design at work here too).

And all the while Facebook is putting a heavy sell on, in the self-serving ad ‘explanations’ it does offer, spinning the line that ad targeting is useful for users. What’s not spelt out is the huge privacy trade off it entails — aka Facebook’s pervasive background surveillance of users and non-users.

Nor does it offer a complete opt-out of being tracked and profiled; rather its partial ad settings let users “influence what ads you see”. 

But influencing is not the same as controlling, whatever Zuckerberg claimed in Congress. So, as it stands, there is no simple way for Facebook users to understand their ad options because the company only lets them twiddle a few knobs rather than shut down the entire surveillance system.

The company’s algorithmic people profiling also extends to labelling users as having particular political views, and/or having racial and ethnic/multicultural affinities.

Pew researchers asked about these two specific classifications too — and found that around half (51%) of polled users had been assigned a political affinity by Facebook; and around a fifth (21%) were badged as having a “multicultural affinity”.

Of those users who Facebook had put into a particular political bucket, a majority (73%) said the platform’s categorization of their politics was very or somewhat accurate; but more than a quarter (27%) said it was not very or not at all an accurate description of them.

“Put differently, 37% of Facebook users are both assigned a political affinity and say that affinity describes them well, while 14% are both assigned a category and say it does not represent them accurately,” it writes.

Use of people’s personal data for political purposes has triggered some major scandals for Facebook’s business in recent years. Such as the Cambridge Analytica data misuse scandal — when user data was shown to have been extracted from the platform en masse, and without proper consents, for campaign purposes.

In other instances Facebook ads have also been used to circumvent campaign spending rules in elections. Such as during the UK’s 2016 EU referendum vote when large numbers of ads were non-transparently targeted with the help of social media platforms.

And indeed to target masses of political disinformation to carry out election interference. Such as the Kremlin-backed propaganda campaign during the 2016 US presidential election.

Last year the UK data watchdog called for an ethical pause on use of social media data for political campaigning, such is the scale of its concern about data practices uncovered during a lengthy investigation.

Yet the fact that Facebook’s own platform natively badges users’ political affinities frequently gets overlooked in the discussion around this issue.

For all the outrage generated by revelations that Cambridge Analytica had tried to use Facebook data to apply political labels on people to target ads, such labels remain a core feature of the Facebook platform — allowing any advertiser, large or small, to pay Facebook to target people based on where its algorithms have determined they sit on the political spectrum, and do so without obtaining their explicit consent. (Yet under European data protection law political beliefs are deemed sensitive information, and Facebook is facing increasing scrutiny in the region over how it processes this type of data.)

Of those users who Pew found had been badged by Facebook as having a “multicultural affinity” — another algorithmically inferred sensitive data category — 60% told it they do in fact have a very or somewhat strong affinity for the group to which they are assigned; while more than a third (37%) said their affinity for that group is not particularly strong.

“Some 57% of those who are assigned to this category say they do in fact consider themselves to be a member of the racial or ethnic group to which Facebook assigned them,” Pew adds.

It found that 43% of those given an affinity designation are said by Facebook’s algorithm to have an interest in African American culture; with the same share (43%) is assigned an affinity with
Hispanic culture. While one-in-ten are assigned an affinity with Asian American culture.

(Facebook’s targeting tool for ads does not offer affinity classifications for any other cultures in the U.S., including Caucasian or white culture, Pew also notes, thereby underlining one inherent bias of its system.)

In recent years the ethnic affinity label that Facebook’s algorithm sticks to users has caused specific controversy after it was revealed to have been enabling the delivery of discriminatory ads.

As a result, in late 2016, Facebook said it would disable ad targeting using the ethnic affinity label for protected categories of housing, employment and credit-related ads. But a year later its ad review systems were found to be failing to block potentially discriminatory ads.

The act of Facebook sticking labels on people clearly creates plenty of risk — be that from election interference or discriminatory ads (or, indeed, both).

Risk that a majority of users don’t appear comfortable with once they realize it’s happening.

And therefore also future risk for Facebook’s business as more regulators turn their attention to crafting privacy laws that can effectively safeguard consumers from having their personal data exploited in ways they don’t like. (And which might disadvantage them or generate wider societal harms.)

Commenting about Facebook’s data practices, Michael Veale, a researcher in data rights and machine learning at University College London, told us: “Many of Facebook’s data processing practices appear to violate user expectations, and the way they interpret the law in Europe is indicative of their concern around this. If Facebook agreed with regulators that inferred political opinions or ‘ethnic affinities’ were just the same as collecting that information explicitly, they’d have to ask for separate, explicit consent to do so — and users would have to be able to say no to it.

“Similarly, Facebook argues it is ‘manifestly excessive’ for users to ask to see the extensive web and app tracking data they collect and hold next to your ID to generate these profiles — something I triggered a statutory investigation into with the Irish Data Protection Commissioner. You can’t help but suspect that it’s because they’re afraid of how creepy users would find seeing a glimpse of the the truth breadth of their invasive user and non-user data collection.”

In a second survey, conducted between May 29 and June 11, 2018 using Pew’s American Trends Panel and of a representative sample of all U.S. adults who use social media (including Facebook and other platforms like Twitter and Instagram), Pew researchers found social media users generally believe it would be relatively easy for social media platforms they use to determine key traits about them based on the data they have amassed about their behaviors.

“Majorities of social media users say it would be very or somewhat easy for these platforms to determine their race or ethnicity (84%), their hobbies and interests (79%), their political affiliation (71%) or their religious beliefs (65%),” Pew writes.

While less than a third (28%) believe it would be difficult for the platforms to figure out their political views, it adds.

So even while most people do not understand exactly what social media platforms are doing with information collected and inferred about them, once they’re asked to think about the issue most believe it would be easy for tech firms to join data dots around their social activity and make sensitive inferences about them.

Commenting generally on the research, Pew’s director of internet and technology research, Lee Rainie, said its aim was to try to bring some data to debates about consumer privacy, the role of micro-targeting of advertisements in commerce and political activity, and how algorithms are shaping news and information systems.

Update: Responding to Pew’s research in a statement, Facebook said:

We want people to see better ads — it’s a better outcome for people, businesses, and Facebook when people see ads that are more relevant to their actual interests. One way we do this is by giving people ways to manage the type of ads they see. Pew’s findings underscore the importance of transparency and control across the entire ad industry, and the need for more consumer education around the controls we place at people’s fingertips. This year we’re doing more to make our settings easier to use and hosting more in-person events on ads and privacy.

16 Jan 2019

The Motorola Razr could return as a $1,500 foldable smartphone

Motorola has revived the Razr name a few times over the years, but the once mighty brand has failed to regain the heights of its early days as an ultra-slim flip phone. But what better time for for the phone maker’s parent Lenovo to bring back the brand in earnest as the mobile world is readying itself for a wave of foldable smartphones?

Nostalgia’s a bit of a mixed bag in consumer electronics. Take the recent returns of Nokia (good), BlackBerry (okay) and Palm (yikes). Slapping a familiar brand on a new product is a fast track to prominence, but not necessarily success. What ultimately may hinder Razr’s rumored return, however, is price.

All of this stems from a new Wall Street Journal report noting Lenovo’s plan to revive the Razr as a foldable smartphone. The price point puts the handset north of even Apple and Samsung’s flagships, at $1,500. Of course, there isn’t really a standardized price point for the emerging foldables category yet.

The Royole FlexPai starts at around $1,300 — not cheap, especially for a product from a relative unknown. And Samsung, the next on the list to embrace the foldable, has never been afraid to hit a premium price point. Ultimately, $1,500 could well be standard for these sorts of products. Whether or not consumers are willing to pay that, however, is another question entirely.

The new Razr is apparently destined for Verizon this year. The carrier (which, as it happens, also owns TechCrunch) has had a longstanding relationship with Motorola. Success, however, is going to hinge on more than name recognition alone.