Month: September 2020

When it comes to smartwatches, it’s Apple against the world. It’s not that there aren’t plenty of other products to choose from — it’s more that the company has just utterly dominated the space to such a point that any other device is relegated to the realm of “Apple Watch alternatives.”

The company has been successful in the space for the usual Apple reasons: premium hardware with deeply integrated software, third-party support, a large cross-device ecosystem play and, of, course, simplicity. Taken as a whole, the Watch just works, right out of the box.

Five years after launch, the line is fairly mature. As such, it’s no surprise, really, that recent updates have largely amounted to refinements. As with most updates, the watch has gotten a processor boost up to the A14 processor, which the company claims is 20% faster than the last version. Perhaps the biggest hardware upgrade, however, is the addition of a blood oxygen sensor, an important piece in the company’s quest to offer as complete an image of wearer health as is possible from the wrist.

I wrote a pretty lengthy piece about the watch last week after wearing it for a few days. As I mentioned at the time, it was an odd kind of writeup, somewhere between hands-on and review. A week or so later, however, I’m more comfortable calling this a review — even if not too many of my initial impressions have changed much in the past several days. After all, a mature product largely means most of the foundations remain unchanged.

The Series 6 certainly looks the part. The Watch is tough to distinguish from other recent models — and for that matter, the new and significantly cheaper SE. The biggest visual change is the addition of new colors. In addition to the standard Gray and Gold, Apple’s added new Blue and (Product)Red cases. The latter seems to be the more ostentatious of the pair. The company sent me a blue model, and honestly, it’s a lot more subtle than I expected. It’s more of a deep blue hue, really, that reads more as black a lot of the time.

It’s tough to imagine the product undergoing any sort of radical rethink of the device’s design language at this point. We may see slight tweaks, including larger screen area going forward, but on the whole, Apple is very much committed to a form factor that has worked very well for it. I will probably always prefer Samsung’s spinning bezel as a quick way to interface with the operating system, but the crown does the job well and scrolling through menus even feels a bit zippier this time, perhaps owing to that faster silicon.

The new Solo Loop bands hit a bit of a hiccup out of the gate. I’ve detailed that a bit more here, but I suspect that much of the problem came down to the difficulty of selling a specifically sized product during a strange period in history where in-person try-ons aren’t really an option. In other words, just really bad timing on that front.

Personally, I quite like the braided model. I’ve been using it as my day to day band. It’s nice and blends in a lot better than the silicone model (I’ve frankly never been much of a fan of Apple’s silicone bands). But I do need to mention that Apple sent me a couple different sizes, which made it much easier to find the right fit. I recognize that. Especially when the braided Solo Loop costs a fairly exorbitant $99. The silicone version is significantly cheaper at $49, but either way, you’re not getting off cheap there. So you definitely want to make sure you get the right fit.

Image Credits: Brian Heater

This is doubly important given the fact that the Series 6’s biggest new feature — blood oxygen monitoring — is highly dependent on you getting a good fit. The sensor utilizes a series of LEDs on the bottom of the watch to shine infrared and red light through the wearer’s skin and into their blood vessels. The color of light that reflects back gives the watch a picture of the oxygen levels in the blood. The whole thing takes about 15 seconds, but only works if your fit is right. Even with the right Solo Loop on, I found myself having to retake it a few times when I first started wearing the watch.

Beyond the on-demand measurements, the watch will also take readings throughout the day and night, mapping these trends over time and incorporating them into sleep readings. The overall readings will give you a good picture of your numbers over time. Honestly though, I get the sense that this is really just the tip of the iceberg of future functionality.

For now, there’s really no specific guidance — or context — given as far as what the numbers mean. Mine are generally between 90-100%. The Mayo Clinic tells me that’s good, but obviously there are a lot of different factors and variations that can’t properly be contextualized in a single paragraph — or on a watch. And Apple certainly doesn’t want to be accused of attempting to diagnose a condition or offer specific medical guidance. That’s going to be an increasingly difficult line for the company to walk as it gets more serious about these sorts of health tools.

If I had to venture a guess, I would say that the combination of sleep tracking in watchOS 7 and the on-board oximeter opens the door pretty nicely for something like sleep apnea tracking (again, more focused on alerts of irregularity versus diagnosis). We’ve seen a small handful of companies like Withings tackle this, so it seems like a no-brainer for Apple, pending all of the regulatory requirements, et al. There are all sorts of other conditions that blood oxygen levels could potentially alert the wearer to, if not actually diagnose.

Sleep was probably the biggest addition with the latest version of watchOS. This was probably the biggest blind spot for the line, compared to the competition. At the moment, the sleep tracking is, admittedly, still pretty basic. Like much of the rest of the on-board tracking, it’s mostly compared with changes over time. The metrics include time in bed versus time asleep, as well as incorporating heart rate figures from the sensor’s regular check-ins. More specific breakdowns, including deep versus light versus REM sleep haven’t arrived yet, but will no doubt be coming sooner than later.

Image Credits: Brian Heater

The door is also wide open for Apple to really get mindfulness right. The company has incorporated a mindfulness reminder for a while now, but it’s easy to imagine how the addition of various sensors like heart rate could really improve the picture and find the company going all-in on meditation, et al. The company could partner with a big meditation name — or, more likely, disrupt things with its own offering. The forthcoming Fitness+ offering could play an important role in the growth of that category, as well.

The other issue that sleep brings to the front is battery life. I was banking on the company making big strides in the battery department — after all, a big part of sleep tracking is ensuring that you’ve got enough charge to get through the night. Apple really only briefly touched on battery — though a recent teardown has revealed some smallish improvements on battery capacity (perhaps owing, in part, to space freed up by the dropping of Force Touch).

The company has also made some improvements to energy efficiency, courtesy of the new silicon. Official literature puts it at a “full-day” of  battery life, up to 18 hours. I found I was able to get through a full day with juice to spare. That’s good, but the company’s still got some ground to make up on that front, compared to, say, the Fitbit Sense, which is capable of getting nearly a week on a charge. I think at this point, it’s fair to hold wearables to higher standards of battery life than, say, handsets. More than once, I’ve found myself intermittently charging the device — 20 minutes here and 20 minutes there — in order to have enough juice left by bedtime.

If you can spare more time than that, you should be able to get up to 80% in an hour or 100% in an hour and a half, courtesy of faster wireless charging. All told, the company has been able to shave significant time off of charging — a definite plus now that you’re not just leaving it overnight to charge. The latest version of watchOS will also handily let you know before if you don’t have enough charge to make it through a full night.

Other updates include the addition of the always-on Altimeter, which, along with the brighter screen doesn’t appear to have had a major impact on the battery. I’ll be honest, being stuck in the city for these last several months hasn’t given me much reason to need real-time elevation stats. Though the feature is a nice step toward taking the Watch a bit more seriously as an outdoor accessory in a realm that has largely been dominated by the likes of Garmin.

Image Credits: Brian Heater

Of course, the company now has three watches on the market — including the Series 3, which just keeps on ticking, and the lower-cost SE. The latter retains the design of the Series 6, but drops a number of the key sensors, which honestly should be perfectly sufficient for many users — and $170 cheaper than the 6’s $399 starting price ($499 with cellular).

Taken as a whole, the Series 6 isn’t a huge leap forward over the Series 5 — and not really worth the upgrade for those who already own that recent vintage. But there are nice improvements throughout, augmented by good upgrades to watchOS that make the best-selling smartwatch that much better, while clearly laying the groundwork for Apple Watches of the future.

Steve Girksy, the former GM vice chairman, consultant and investor whose special purpose acquisition company (SPAC) merged with hydrogen electric startup Nikola this summer, is in talks to back self-driving trucks startup TuSimple, according to four people familiar with the deal.

The capital would come from Girsky’s VectoIQ LLC, a consulting and investment company he runs with managing partner Mary Chan, and would be part of a consortium of investors, according to one unnamed source who requested anonymity because the deal had yet to be finalized. The deal could close as early as mid-October.

TuSimple as well as Girsky declined to comment.

It’s no secret that TuSimple has been seeking new capital. TechCrunch reported in June that TuSimple was in search of $250 million in fresh capital from investors. The company hired investment bank Morgan Stanley to help it raise funds, according to multiple sources familiar with the effort. Since then, TuSimple, which already has backing from Sina, UPS and Tier 1 supplier Mando Corp., has announced a partnership with Navistar and most recently, the Traton Group.

Girsky has most recently captured headlines because of Nikola, where he is now the executive chairman. Girsky took over as chairman in September after Nikola’s founder Trevor Milton stepped down following fallout from a scathing report by short-seller firm Hindenburg Research that accused the company of fraud. VectoIQ Acquisition Corp., the SPAC that Girsky formed in 2018, announced a merger with Nikola in March, and Girsky oversaw its public listing this past June. He shepherded an introduction between Nikola and his former boss, GM CEO and chairwoman Mary Barra, according to one source familiar with the deal. By mid-September the automaker had announced a partnership valued at $2 billion with Nikola.

Girsky may be Nikola’s new chairman and certainly has executive experience, but his focus in recent years has been as an advisor, investor and matchmaker. Girsky has long had an interest in mobility-related companies. His firm VectoIQ LLC specializes in advising companies and connecting large companies with startups working on autonomous vehicle technology, electrification, connected, cybersecurity and mobility-as-a-service.

VectoIQ invested in lidar startup Luminar, which recently announced it was going public through a SPAC merger with Gores Metropoulos Inc., at a post-deal market valuation of $3.4 billion. Girsky also sat on the board of autonomous vehicle startup Drive.ai, which was acquired by Apple as the company prepared to shutdown.

Girsky’s investment in TuSimple is separate from his interests in Nikola, which has yet to begin production of its Class 8 trucks, according to sources.

TuSimple, which launched in 2015 and has operations in China, San Diego and Tucson, Arizona, is focused on the autonomous vehicle technology stack that will allow Class 8 trucks to operate without a human driver. TuSimple operates a fleet of 40 self-driving trucks in the U.S. that are used for testing and to carry freight between Arizona and Texas.

TuSimple announced in July plans to develop and begin producing autonomous semi trucks by 2024 in partnership with Navistar. In September, Volkswagen AG’s heavy-truck business Traton Group said it took a minority stake in TuSimple as part of an agreement between the two companies to develop self-driving trucks. Neither company disclosed the financial terms of the partnership or the percentage of the minority stake. Traton did make a direct capital investment into TuSimple, according to one unnamed source familiar with the deal. It’s unclear if it also included in-kind contributions.

Privacy data mismanagement is a lurking liability within every commercial enterprise. The very definition of privacy data is evolving over time and has been broadened to include information concerning an individual’s health, wealth, college grades, geolocation and web surfing behaviors. Regulations are proliferating at state, national and international levels that seek to define privacy data and establish controls governing its maintenance and use.

Existing regulations are relatively new and are being translated into operational business practices through a series of judicial challenges that are currently in progress, adding to the confusion regarding proper data handling procedures. In this confusing and sometimes chaotic environment, the privacy risks faced by almost every corporation are frequently ambiguous, constantly changing and continually expanding.

Conventional information security (infosec) tools are designed to prevent the inadvertent loss or intentional theft of sensitive information. They are not sufficient to prevent the mismanagement of privacy data. Privacy safeguards not only need to prevent loss or theft but they must also prevent the inappropriate exposure or unauthorized usage of such data, even when no loss or breach has occurred. A new generation of infosec tools is needed to address the unique risks associated with the management of privacy data.

The first wave of innovation

A variety of privacy-focused security tools emerged over the past few years, triggered in part by the introduction of GDPR (General Data Protection Regulation) within the European Union in 2018. New capabilities introduced by this first wave of innovation were focused in the following three areas:

Data discovery, classification and cataloging. Modern enterprises collect a wide variety of personal information from customers, business partners and employees at different times for different purposes with different IT systems. This data is frequently disseminated throughout a company’s application portfolio via APIs, collaboration tools, automation bots and wholesale replication. Maintaining an accurate catalog of the location of such data is a major challenge and a perpetual activity. BigID, DataGuise and Integris Software have gained prominence as popular solutions for data discovery. Collibra and Alation are leaders in providing complementary capabilities for data cataloging.

Consent management. Individuals are commonly presented with privacy statements describing the intended use and safeguards that will be employed in handling the personal data they supply to corporations. They consent to these statements — either explicitly or implicitly — at the time such data is initially collected. Osano, Transcend.io and DataGrail.io specialize in the management of consent agreements and the enforcement of their terms. These tools enable individuals to exercise their consensual data rights, such as the right to view, edit or delete personal information they’ve provided in the past.

Software developers are some of the most in-demand workers on the planet. Not only that, they’re complex creatures with unique demands in terms of how they define job fulfillment. With demand for developers on the rise (the number of jobs in the field is expected to grow by 22% over the next decade), companies are under pressure to do everything they can to attract and retain talent.

First and foremost — above salary — employers must ensure that product teams are made up of developers who feel creatively stimulated and intellectually challenged. Without work that they feel passionate about, high-quality programmers won’t just become bored and potentially seek opportunities elsewhere, the standard of work will inevitably drop. In one survey, 68% of developers said learning new things is the most important element of a job.

Yet with only 32% of developers feeling “very satisfied” with their jobs, there’s scope for you to position yourself as a company that prioritizes the development of its developers, and attract and retain top talent. So, how exactly can you ensure that your team stays stimulated and creatively engaged?

Allow time for personal projects

78% of developers see coding as a hobby — and the best developers are the ones who have a true passion for software development, in and out of the workplace. This means they often have their own personal passions within the space, be it working with specific languages or platforms, or building certain kinds of applications.

Back in their 2004 IPO letter, Google founders Sergey Brin and Larry Page wrote:

We encourage our employees, in addition to their regular projects, to spend 20% of their time working on what they think will most benefit Google. [This] empowers them to be more creative and innovative. Many of our significant advances have happened in this manner.

At DevSquad, we’ve adopted a similar approach. We have an “open Friday” policy where developers are able to learn and enhance their skills through personal projects. As long as the skills being gained contribute to work we are doing in other areas, the developers can devote that time to whatever they please, whether that’s contributing to open-source projects or building a personal product. In fact, 65% of professional developers on Stack Overflow contribute to open-source projects once a year or more, so it’s likely that this is a keen interest within your development team too.

Not only does this provide a creative outlet for developers, the company also gains from the continuously expanding skillset that comes as a result.

Provide opportunities to learn and teach

One of the most demotivating things for software developers is work that’s either too difficult or too easy. Too easy, and developers get bored; too hard, and morale can dip as a project seems insurmountable. Within our team, we remain hyperaware of the difficulty levels of the project or task at hand and the level of experience of the developers involved.

UK-based startup HumanForest has suspended its nascent ‘free’ e-bike service in London this week, after experiencing “mechanical” issues and after a user had an accident on one of its bikes, TechCrunch has learned. The suspension has also seen the company make a number of layoffs with plans to re-launch next spring using a different e-bike.

The service suspension comes only a few months after HumanForest started the trial in North London — and just a couple of weeks after announcing a $2.3M seed round of funding backed by the founders of Cabify and others.

We were tipped to the closure by an anonymous source who said they were employed by the startup. They told us the company’s e-bike had been found to have a defect and there had been an accident involving a user, after which the service was suspended. They also told us HumanForest fired a bunch of staff this week with little warning and minimal severance.

Asked about the source’s allegations, HumanForest confirmed it had suspended its service in London following a “minor accident” on Sunday, saying also that it had identified “problems of a similar nature” prior to the accident but had put down those down to “tampering or minor mechanical issues”.

Here’s its statement in full: “We were not aware that the bike was defective. There had been problems of a similar nature which were suspected to be tampering or minor mechanical issues. We undertook extra mechanical checks which we believed had resolved the issue and informed the supplier. We immediately suspended operations following the minor accident on Sunday. The supplier is now investigating whether there is a more serious problem with the e-bike.”

In an earlier statement the startup also told us: “There was an accident last week. Fortunately, the customer was not hurt. We immediately withdrew all e-bikes from the street and we have informed the supplier who is investigating. Our customers’ safety is our priority. We have, therefore, decided to re-launch with a new e-bike in Spring 2021.”

HumanForest declined to offer any details about the nature of the defect that caused it to suspend service but a spokeswoman confirmed all its e-bikes were withdrawn from London streets the same day as the accident, raising questions as to why it did not do so sooner — having, by its own admission, already identified “similar problems”.

The spokeswoman also confirmed HumanForest made a number of job cuts in the wake of the service suspension.

“We are very sorry that we had to let people go at this difficult time but, with operations suspended, we could only continue as a business with a significantly reduced team,” she said. “We tried very hard to find a way to keep people on board and we looked at the possibility of alternative contractual arrangements or employment but unfortunately, there are no guarantees of when we can re-launch.”

“Employees who had been with the company for less than three months were on their probation period which, as outlined in their contract, had one week’s notice. We will be paying their salaries until the end of the month,” she said, reiterating that it’s a difficult time for the startup.

The e-bikes HumanForest was using for the service appear to be manufactured by the Chinese firm Hongji — but are supplied by a German startup, called Wunder Mobility, which offers both b2c and b2b mobility services.

We contacted both companies to ask about the e-bike defect reported by HumanForest.

At the time of writing only Wunder Mobility had responded — confirming it acts as “an intermediary” for HumanForest but not offering any details about the nature of the technical problem.

Instead, it sent us this statement, attributed to its CCO Lukas Loers: “HumanForest stands for reliable quality and works continuously to improve its services. In order to offer its customers the best possible range of services in the sharing business, HumanForest will use the winter break to evaluate its findings from the pilot project in order to provide the best and most sustainable solution for its customers together with Wunder Mobility in the spring.”

“Unfortunately, we cannot provide any information about specific defects on the vehicles, as we have only acted as an intermediary. Only the manufacturer or the operator HumanForest can comment on this,” it added.

In a further development this week, which points to the competitive and highly dynamic nature of the nascent micromobility market, another e-bike sharing startup, Bolt — which industry sources suggest uses the same model of e-bike as HumanForest (its e-bike is visually identical, just painted a more lurid shade of green) — closed its e-bike sharing service in Paris, a few months after launching in the French capital.

When we contacted Bolt to ask whether it had withdrawn any e-bikes because of technical issues it flat denied doing so — saying the Paris closure was a business decision, and was not related to problems with its e-bike hardware.

“We understand some other companies have had issues with their providers. Bolt hasn’t withdrawn any electric bikes from suppliers due to defects,” a spokesperson told us, going on to note it has “recently” launched in Barcelona and trailing “more announcements about future expansion soon”.

In follow up emails the spokesperson further confirmed it hasn’t identified any defects with any e-bikes it’s tested, nor withdrawn any bikes from its supplier.

Bolt’s UK country manager, Matt Barrie, had a little more to say in a response to chatter about the various micromobility market moves on Twitter — tweeting the claim that: “Hardware at Bolt is fine, all good, the issues that HumanForest have had are with their bespoke components.”

“The Paris-Prague move is a commercial decision to support our wider business in Prague. Paris a good market and we hope to be back soon,” he added.

We asked HumanForest about Barrie’s claim that the technical issues with its hardware are related to “bespoke components” — but its spokeswoman declined to comment.

HumanForest’s twist on the e-bike sharing model is the idea of offering free trips with in-app ads subsidizing the rides. Its marketing has also been geared towards pushing a ‘greener commute’ message — touting that the e-bike batteries and service vehicles are charged with certified renewable energy sources.

Last month, Facebook introduced support for paid online events — and since many of the businesses offering those events have struggled during the coronavirus pandemic, the company also said it would not collect fees for the next year. At the same time, it complained that Apple had “dismissed” its requests to waive the App Store’s customary 30% fee on in-app purchases.

Today, Facebook is announcing a reversal on Apple’s part: Online event fees will be processed through Facebook Pay, without Apple collecting its 30% cut, meaning businesses will receive all of the earnings from their online events, minus taxes. This arrangement will last until December 31 and will not apply to gaming creators.

The news comes after Facebook publicly pressured Apple to change its stance. It even submitted an iOS app update stating that “Apple takes 30% of this purchase” in the events payments flow. (Facebook said Apple rejected the update for including information that’s “irrelevant” to users.)

And while the two companies appear to have come to an agreement, today’s statements from Facebook are still a bit barbed.

“This is a difficult time for small businesses and creators, which is why we are not collecting any fees from paid online events while communities remain closed for the pandemic,” said Facebook spokesperson Joe Osborne. “Apple has agreed to provide a brief, three-month respite after which struggling businesses will have to, yet again, pay Apple the full 30% App Store tax.”

Similarly, in discussing the exception for gaming creators, Facebook Gaming Vice President Vivek Sharma said, “We unfortunately had to make this concession to get the temporary reprieve for other businesses.”

When asked about the change, Apple provided the following statement: “The App Store provides a great business opportunity for all developers, who use it to reach half a billion visitors visitors each week across 175 countries. To ensure every developer can create and grow a successful business, Apple maintains a clear, consistent set of guidelines that apply equally to everyone.”

More specifically, Apple said it’s giving Facebook until the end of the year to implement in-app payments for these events and bring them into compliance with App Store rules.

This also comes as Fortnite-maker Epic Games is waging a legal battle and publicity campaign against Apple’s App Store fees, with Fortnite removed Fortnite from the iOS App Store. Epic is also part of a just-announced group of publishers called the Coalition for App Fairness, which is pushing for app store changes or regulation.

It’s nearly October, startup fans and that means TC Sessions: Mobility 2020 is right around the corner. On October 6 & 7, you’ll experience an incredible two-day agenda packed with the top leaders, visionaries, makers and investors, and they’re ready to drop serious knowledge about crucial trends, issues and challenges related to mobility and transportation tech.

Attendees tell us there’s only one problem with all these great interviews and panel discussions. They generate a lot of follow-up questions and the desire for even more conversation. We hear you loud and clear, and that’s why we’re excited to offer several different Q&A breakout sessions featuring speakers who presented on the TC Sessions: Mobility main stage. They’re the perfect place to get answers to your burning questions.

And there’s nothing that prevents you from initiating a whole new conversation. You never know what opportunity might arise when you engage and interact with some of the top minds in the business.

Here’s the answer to burning question #1. Which top minds are heading up the Q&A breakout sessions? Here are just a few with more to come!

Fresh from their main stage discussion, Investing in Mobility, Reilly Brennan (Founding General Partner, Trucks Venture Capital), Amy Gu (Managing Partner, Hemi Ventures) and Olaf Sakkers (Partner, Maniv Mobility) will take your questions related to VC investment.

Do you have questions about micromobility? This is your moment. First, check out the main stage presentation, The Next Opportunities in Micromobility with Danielle Harris (Director of Mobility Innovation, Elemental Excelerator) and Dmitry Shevelenko (Co-founder & President, Tortoise). Second, head to their Q&A for a deeper understanding of this timely topic.

Finally, don’t miss Peter Rawlinson’s Q&A. It’s a chance to follow up on his main stage discussion, The Road to the All-Electric Air. How often do you get the opportunity to get answers to specific questions on this — dare we say it — electrifying topic?

There’s so much to do and experience — more than 40 early-stage startups exhibiting in our expo, networking made simple with CrunchMatch and live pitching from the main stage.

TC Sessions: Mobility 2020 takes place October 6-7. Buy your pass today — prices increase on October 5. Don’t miss your chance to learn, explore ideas and new trends, to meet and connect with the people who can help you build your business and launch your dreams.

Is your company interested in sponsoring or exhibiting at TC Sessions: Mobility 2020? Contact our sponsorship sales team by filling out this form.

Twitter has emailed developers warning of a bug that may have exposed their private app keys and account tokens.

In the email, obtained by TechCrunch, the social media giant said that the private keys and tokens may have been improperly stored in the browser’s cache by mistake.

“Prior to the fix, if you used a public or shared computer to view your developer app keys and tokens on developer.twitter.com, they may have been temporarily stored in the browser’s cache on that computer,” the email read. “If someone who used the same computer after you in that temporary timeframe knew how to access a browser’s cache, and knew what to look for, it is possible they could have accessed the keys and tokens that you viewed.”

The email said that in some cases the developer’s access token for their own Twitter account may have also been exposed.

These private keys and tokens are considered secrets, just like passwords, because they can be used to interact with Twitter on behalf of the developer. Access tokens are also highly sensitive, because if stolen they can give an attacker access to a user’s account without needing their password.

Twitter said that it has not yet seen any evidence that these keys were compromised, but alerted developers out of an abundance of caution. The email said users who may have used a shared computer should regenerate their app keys and tokens.

It is not immediately known how many developers were affected by the bug or exactly when the bug was fixed. A Twitter spokesperson did not immediately comment when reached by TechCrunch.

In June, Twitter said that business customers, such as those who advertise on the site, may have had their private information also improperly stored in the browser’s cache.

This year’s Bessemer Venture Partners’ annual Cloud 100 Benchmark report was published recently and my colleague Alex Wilhelm looked at some broad trends in the report, but digging into the data, I decided to concentrate on the Top 10 companies by valuation. I found that the top company has defied convention for a couple of reasons.

Bessemer looks at private companies. Once they go public, they lose interest, and that’s why certain startups go in and out of this list each year. As an example, Dropbox was the most highly valued company by far with a valuation in the $10 billion range for 2016 and 2017, the earliest data in the report. It went public in 2018 and therefore disappeared.

While that $10 billion benchmark remains a fairly good measure of a solidly valued cloud company, one company in particular blew away the field in terms of valuation, an outlier so huge, its value dwarfs even the mighty Snowflake, which was valued at over $12 billion before it went public earlier this month.

That company is Stripe, which has an other worldly valuation of $36 billion. Stripe began its ascent to the top of the charts in 2016 and 2017 when it sat behind Dropbox with a $6 billion valuation in 2016 and around $8 billion in 2017. By the time Dropbox left the chart in 2018, Stripe would have likely blown past it when its valuation soared to $20 billion. It zipped up to around $23 billion last year before taking another enormous leap to $36 billion this year.

Stripe remains an outlier not only for its enormous valuation, but also the fact that it hasn’t gone public yet. As TechCrunch’s Ingrid Lunden pointed out in article earlier this year, the company has remained quiet about its intentions, although there has been some speculation lately that an IPO could be coming.

What Stripe has done to earn that crazy valuation is to be the cloud payment API of choice for some of the largest companies on the Internet. Consider that Stripe’s customers include Amazon, Salesforce, Google and Shopify and it’s not hard to see why this company is valued as highly as it is.

Stripe came up with the idea of making it simple to incorporate a payments mechanism into your app or website, something that’s extremely time-consuming to do. Instead of building their own, developers tapped into Stripe’s ready-made variety and Stripe gets a little money every time someone bangs on the payment gateway.

When you’re talking about some of the biggest companies in the world being involved, and many others large and small, all of those payments running through Stripe’s systems add up to a hefty amount of revenue, and that revenue has led to this amazing valuation.

One other company, you might want to pay attention to here, is UIPath, the robotic process automation company, which was sitting just behind Snowflake with a valuation of over $10 billion. While it’s unclear if RPA, the technology that helps automate legacy workflows, will have the lasting power of a payments API, it certainly has come on strong the last couple of years.

Most of the companies in this report appear for a couple of years as they become unicorns, watch their values soar and eventually go public. Stripe up to this point has chosen not to do that, making it a highly unusual company.

TechCrunch is embarking on a major new project to survey the venture capital investors of Europe, and their cities.

Our <a href=”https://forms.gle/k4Ji2Ch7zdrn7o2p6”>survey of VCs in Helsinki will capture how the city is faring, and what changes are being wrought amongst investors by the coronavirus pandemic. (Please note, if you have filled the survey out already, there is no need to do it again).

We’d like to know how Helsinki’s startup scene is evolving, how the tech sector is being impacted by COVID-19, and, generally, how your thinking will evolve from here.

Our survey will only be about investors, and only the contributions of VC investors will be included. More than one partner is welcome to fill out the survey.

The shortlist of questions will require only brief responses, but the more you can add, the better.

You can fill out the survey here.

Obviously, investors who contribute will be featured in the final surveys, with links to their companies and profiles.

What kinds of things do we want to know? Questions include: Which trends are you most excited by? What startup do you wish someone would create? Where are the overlooked opportunities? What are you looking for in your next investment, in general? How is your local ecosystem going? And how has COVID-19 impacted your investment strategy?

This survey is part of a broader series of surveys we’re doing to help founders find the right investors.

For example, here is the recent survey of London.

You are not in Helsinki, but would like to take part? European VC investors can STILL fill out the survey, as we will be putting a call out to your city next anyway!

The survey is covering almost every European country on the continent of Europe (not just EU members, btw), so just look for your country and city on the survey and please participate (if you’re a venture capital investor).

Thank you for participating. If you have questions you can email mike@techcrunch.com