Author: azeeadmin

Game publisher Tilting Point announced today that it has made its third acquisition in eight months, buying games, key employees and “most of the assets” from FTX Games and Plamee Studios — both previously owned Playtech, which will be focusing on its gaming and sports betting software moving forward.

Plamee previously developed Narcos: Cartel Wars, which has supposedly made $60 million in revenue since launch. FTX published Cartel Wars, as well as The Walking Dead: Free Casino Slots and Criminal Minds: The Mobile Game. Tilting Point has taken over operations for all three FTX titles, as well as a fourth that’s currently in development.

The financial terms of the acquisition were not disclosed.

Last fall, Tilting Point acquired Gondola, a startup that optimizes in-game offers and ads. Then it purchased the mobile game Star Trek Timelines earlier this year, hiring the development team to form a new gaming studio called Wicked Realm Games in the process.

CEO Kevin Segalla said this he’s always seen acquisitions as a big part of the company’s “progressive publishing” model, in which the company is first hired to help developers with user acquisition and then develops a deeper business relationship over time.

“We were built to ultimately be in a position where we could acquire some of the studios that we’re working with,” Segalla said.

He added that the expects “more acquisitions down the pike for sure,” with Tilting Point particularly interested in acquiring games have previously been “constrained in marketing spend” and “clearly are going to have longer legs.”

It sounds like studios acquired by Tilting Point continue to operate with a degree of independence while drawing on the larger company’s resources to grow and monetize their games.

“We truly value the developers’ independence,” Segalla said. “We specifically want to work to continue operating their business and help them accelerate their growth. A lot of development studios are recognizing that scale is becoming more and more important.”

Amazon is giving livestreamers a new way to earn commissions on purchases of products showcased in their streams. The company is today adding livestreaming to its existing Amazon Influencer Program which before today, allowed social media influencers to earn money by pointing fans to their favorite Amazon products through posts on Facebook, Twitter, Instagram and YouTube.

The Influencer Program quietly debuted in 2017 as a way for Amazon to capitalize on the growing trend of influencer marketing as a way to drive sales. The program itself is a step up from the Amazon Associates program, as it requires approval to join and gives influencers their own page with an Amazon URL to showcase their recommendations.

Though Amazon already catered to video creators through the program, the new livestreaming option is focused on its own Amazon Live service. A sort of modern-day version of QVC that streams directly on Amazon’s shopping site, Amazon Live launched last year as the retailer’s latest effort to attract consumers by way of live video.

On Amazon Live shows, hosts talk about and demonstrate products, much like they would do on home shopping networks. Underneath the video, a carousel guides consumers purchase the items featured.

This service wasn’t Amazon’s first attempt at live content — the retailer pulled the plug on its earlier effort in live content, a short-lived “show” called Style Code Live that featured hosts with TV and broadcast backgrounds who brought in experts to talk beauty and style tips.

Amazon Live, however, isn’t narrowly focused on fashion and beauty. Instead, its content can cover a range of categories — like cooking, fitness, baby, home, auto, electronics, toys, pets, moves and TV, industrial and much more. There are also multiple live channels to flip through, unlike on cable TV shopping networks.

To broadcast to Amazon Live, video creators and now, influencers use the Amazon Live Creator app to livestream and chat with viewers as they show off the products to be shopped. On the Amazon Live homepage, fans can also chat with the host and one another in a Twitch-like side panel next to the live video.

You can see a few influencers’ streams in action, with early adopters Mirror & Thread, Beauty by Carla, The Deal Guy, and BrickinNick already available on Amazon Live.

In addition, influencers who livestream on Amazon Live as a part of the new program will have their videos not only streamed on the Amazon Live homepage itself, but also on their own dedicated Amazon storefront. As they grow their fanbase, they can move up levels from “Rising Star” to “Insider” to “A-List.”

These tiers have various rewards and features. Rising Star, for example, offers paid commission on qualifying purchases through Amazon’s Onsite Associates program, while higher levels get to have their videos showcased on product detail pages in addition to their own storefront and Amazon Live. A-List’ers also receive priority support and special access to Amazon Live events and opportunities, says Amazon.

“We’re focused on bringing customers fun and interactive shopping experiences, while also helping influencers grow their businesses on Amazon,” said Amazon Live Director, Munira Rahemtulla, in a statement. “Livestreaming enables creativity, connection, and inspiration, and the opportunities are endless – we’re excited to introduce the Amazon Live Creator app to influencers and can’t wait to see what they’ll create for Amazon customers,” she added.

TechCrunch asked Amazon to clarify how influencers are compensated for their streams, given that today’s social media personalities have a number of way to work with brands for profit — including through YouTube BrandConnect, Facebook’s Brand Collaborations, and other programs, for example. The company has so far declined to provide further context, but we’ll update if that changes.

 

 

 

 

 

Google is launching a major update to its G Suite productivity tools today that will see a deep integration of Gmail, Chat, Meet and Rooms on the web and on mobile, as well as other tools like Calendar, Docs, Sheets and Slides. This integration will become available in the G Suite early adopter program, with a wider roll-out coming at a later time.

The G Suite team has been working on this project for about a year, though it fast-tracked the Gmail/Meet integration, which was originally scheduled to be part of today’s release, as part of its response to the COVID-19 pandemic.

At the core of today’s update is the idea that we’re all constantly switching between different modes of communication, be that email, chat, voice or video. So with this update, the company is bringing all of this together, with Gmail being the focal point for the time being, given that this is where most users already find themselves for hours on end anyway.

Google is branding this initiative as a ‘better home for work’ and in practice, it means that you’ll not just see deeper integrations between products, like a fill calendaring and file management experience in Gmail, but also the ability to have a video chat open on one side of the window while collaboratively editing a document in real-time on the other.

According to G Suite VP and GM Javier Soltero, the overall idea here is not just to bring all of these tools closer together to reduce the task-switching that users have to do.

“We’re announcing something we’ve been working on since a little bit before I even joined Google last year: a new integrated workspace designed to bring together all the core components of communication and collaboration into a single surface that is not just about bringing these ingredients into the same pane of glass, but also realizes something that’s greater than the sum of its parts,” he told me ahead of today’s announcement. “The degree of integration across the different modes of communication, specifically email, chat, and video calling and voice video calling along with our existing physical existing strength in collaboration.”

Just like on the web, Google also revealed some of its plans when it first announced its latest major update to Gmail for mobile in May, with its Meet integration in the form of a new bar at the bottom of the screen for moving between Mail and Meet. With this, it’s expanding this to include native Chat and Rooms support as well. Soltero noted that Google things of these four products as the “four pillars of the integrated workspace.” Having them all integrated into a single app means you can manage the notification behavior of all of them in a single place, for example, and without the often cumbersome task-switching experience on mobile.

For now, these updates are specific to G Suite, though similar to Google’s work around bringing Meet to consumers, the company plans to bring this workspace experience to consumers as well, but what exactly that will look like still remains to be seen. “Right now we’re really focused. The people who urgently need this are those involved in productivity scenarios. This idea of ‘the new home for work’ is much more about collaboration that is specific to professional settings, productivity and workplace settings,” Soltero said.

But there is more…

Google is also announcing a few other feature updates to its G Suite line today. Chat rooms, for example, are now getting shared files and tasks, with the ability to assign tasks and to invite users from outside your company into rooms. These rooms now also let you have chats open on one side and edit a document on the other, all without switching to a completely different web app.

Also new is the ability in Gmail to search not just for emails but also chats, as well as new tools to pin important rooms and new ‘do not disturb’ and ‘out of office’ settings.

One nifty new feature of these new integrated workspaces is that Google is also working with some of its partners to bring their apps into the experience. The company specifically mentions DocuSign, Salesforce and Trello. These companies already offer some deep Gmail integrations, including integrations with the Gmail sidebar, so we’ll likely see this list expand over time.

Meet itself, too, is getting some updates in the coming weeks with ‘knocking controls’ to make sure that once you throw somebody out of a meeting, that person can’t come back, and safety locks that help meeting hosts decide who can chat or present in a meeting.

Snap debuted its developer platform two years ago, and though it’s amassed several hundred integrations inside third-party apps, the company is still looking to scale deeper relationships with the developers on Snap Kit.

Today, the social media company announced Yellow Collabs. The remote 13-week program allows companies to dive deeper into integrating their apps with Snap Kit with a number of instruction paths based on their interests in specific elements of the platform. Companies can choose to work with Snap around integrating with their apps with the entire Snap Kit platform, or dive deeper into Snap Minis, Dynamic Lenses, Scan or Snap ML feature verticals.

The company opened up applications for the new program today, which kicks off September 21 and runs through December 18 of this year.

Snap’s Yellow division had previously only been home to its small startup accelerator that invests in early-stage companies. The division, headed up by Mike Su and Alexandra Levitt, has debuted three batches of startups thus far and is currently readying timelines for their fourth batch.

While the Yellow accelerator hasn’t mandated that admitted founders integrate Snap Kit into their platforms, getting onsite assistance in doing so has been a sell for some startups in the program. Levitt tells TechCrunch that the accelerator was having to turn away applications from growth-stage startups, larger companies and non-profits who had interesting pitches for Snap integrations but weren’t ideal fits for the accelerator format. Levitt hopes this new program can help ambitious developer get assistance in getting the most out of the platform, while “offering a closer relationship with the Snap team.”

“We hope this program can help bring in applications from companies that might not have been able to execute in a self-service manner,” Levitt says.

While program sits inside Yellow, Snap won’t be making any investments or receiving equity in the companies. Collabs aligns on the education element of the startup accelerator even it the goals are a bit different.  It’s an interesting marriage, and also a sign of Snap getting more serious about driving deeper partnerships and forming earlier bonds with the companies on its developer platform.

What are the most important things to get right about remote work? What needs to be prioritized?

With more and more teams being thrown headfirst into remote work, I spent a few weeks talking with some of the people who know the topic better than just about anyone: the founders and execs who’ve put countless hours into making remote work … work.

Some of these companies — like GitLab, Doist, Zapier, Mattermost, FlexJobs and YouNeedABudget — have been working fully remote since their earliest days. Others, like Twilio, had been partly remote for years but found themselves shifting gears to expand remote work to a team of nearly three thousand people.

Looking for the highlights? I’ve pulled out some of their tips and collated them below for easy reading. Want the full interviews? You can find those here:

• Zapier CEO Wade Foster
• Mattermost CEO Ian Tien
• Doist founder Amir Salihefendic
• YouNeedABudget co-founder Jesse Mecham
• GitLab head of Remote Darren Murph, Part 1 | Part 2
• FlexJobs CEO Sara Sutton
• Twilio CEO Jeff Lawson

Write down everything

It was probably the thing I heard most from all of these teams: Write. Things. Down. Make it a habit.

Outline your company values. Document decisions — and how decisions are made. Take meeting notes. Track project progress publicly, and keep roadmaps transparent.

Arvind Gupta, the founder and head of IndieBio, is leaving the accelerator whose portfolio he helped build into a $3.2 billion life sciences powerhouse, to join the venture capital fund Mayfield.

The move is a signal both of Mayfield’s increasing commitment to invest in a thesis around human and planetary health, and of the growing importance of bio-engineering in the world of emerging technologies.

“This goes with the focus at Mayfield on conscious capitalism and mending the planet and the development of solutions to address these human and planetary health issues,” said Ursheet Parikh, a partner at Mayfield who leads the firm’s initiatives around bio-engineering. 

As part of the move, Mayfield has committed to invest in SOSV, the holding company for a clutch of accelerators and venture funds that included IndieBio, and to collaborate with the SOSV on the creation of the Genesis Consortium, an alliance of investment funds and corporate investors designed to back companies focused on bio-engineering for planetary and human health.

“This is a good time to expand the movement beyond the pre-seed level,” said Gupta in an interview.

From the accelerator to the A round

As part of the agreement, Mayfield has committed to invest $100,000 in all of the companies graduating from the IndieBio San Francisco accelerator. Po Bronson is taking over the leadership position at IndieBio although Gupta will continue to act as an advisor to the accelerator, according to a statement.

For IndieBio and Gupta, the partnership with Mayfield is an affirmation of the six years of work that Gupta and his team have put in to accelerating companies focused on commercializing the technologies that have been developed to shape and reshape the basic building blocks of life.

In that time, he’s created a portfolio that’s worth, by some estimates, $3.2 billion and includes companies like Memphis Meats (developing cultured meat from animal cells), Geltor (developing novel proteins), Synthex (manufacturing new peptide therapeutics), Endless West (distilling alcohol from microbes), Prellis (developing organ tissue cultivation), NotCo (creating a new plant based food brand), Catalog (using organisms for data storage), Tinctorium (recreating the dyeing process for blue jeans), Mycoworks (using plants to make a leather replacement). 

Parikh said that the partnership between the two firms is another example of the ways new information technology advancements dovetail with the revolution in engineering biology. “All this cloud and artificial intelligence becomes a catalyst,” said Parikh. “It becomes about building the next generation of companies and [technology] platforms.”

At Mayfield that’s meant investing in companies like Mammoth Biosciences, a pioneer in the use of CRISPR gene editing technologies across a number of industries with an early focus on healthcare and life sciences. It has also meant investing in some IndieBio graduates like Serenity Bioworks and New Culture

Bioengineering is experiencing a bit of boom these days among venture investors. Companies using the new technology have attracted investments from leading funds including Kleiner Perkins, Mayfield, DCVC, Khosla Ventures, Sequoia, SoftBank, Andreessen Horowitz and others. According to data from the research firm, SynBioBeta, startups focused on bioengineering have raised over $12.6 billion in funding as of 2018.

Both Gupta and Parikh think those numbers are nowhere near enough if the companies developing these technologies are to live up to their potential and have the desired impact on industries as diverse as manufacturing, agriculture and food production, packaging and material sciences, and clothing and consumer goods.

Behind all of this, for Gupta, is the looming threat of a climate catastrophe. Reversing course on global climate change — or even just limiting the planet’s disturbing warming trend — will require a shift in consumer behavior that can be made through the development and commercialization of these bio-based technologies, Gupta said.

The Genesis Consortium 

It may sound like a Bond-villain scheme for global domination, but ideally, the Genesis Consortium will bring together a number of corporate partners and investment funds that focus on bio-engineering to collaborate on investments at a scale that’s needed to make the changes that Gupta thinks are necessary for industry.

“The idea, to take a step back, is really about extending this movement,” says Gupta. “If you look at the amount of capital being deployed in human and planetary health it is a small part of investments compared to all of IT.”

What needs to happen is that investors need to realize that these are multi-billion industries that can be transformed using these technology platforms, Gupta said. They are also solutions for the existential health and planetary crises that the global population is confronting.

That’s why the firms are creating the Genesis Consortium. “We want this to be the announcement where we can go and have that conversation with strategic partners,” said Gupta. “I also want to make sure that corporates are involved… this is not just about money but strategic involvement.”

Already, some of the biggest food companies in the U.S. are turning their attention to the industry thanks to shifting consumer tastes and are responding accordingly. “The Tyson’s of the world have seen that shift,” Gupta said. As consumers shift their minds and their dollars… all of the big corporates are thinking about how they stay ahead of this.”

SpaceX’s Starlink service appears to be getting very close, as the company sent out requests for specific address information to anyone who has registered interest in its beta program this week. Now, a leak initially discovered via the Starlink subreddit (via Business Insider) has provided an early look at how the beta program will operate, and what is expected of by SpaceX of anyone who takes part.

The hardware

Starlink service will require use of specialized hardware for reception and transmission of data to and from the Starlink constellation, as well as “a clear view of the Northern sky” to function. The hardware, pictured above, is a small satellite dish that SpaceX CEO and founder Elon Musk has previously described as a “UFO on a stick.” You can see it pictured above, and it doesn’t look at that different from a typical satellite dish, though it’s hard to judge at scale from the images found on the Starlink servers.

Starlink will be providing this hardware to beta testers free of charge, and they’ll be responsible for installing it themselves. The kits include a power supply for the dish, along with mounting hardware designed to work with a person’s specific needs based on their dwelling. The website specifically instructs beta testers not to employ outside help when mounting their kit. Without a clear view of the sky, the FAQ notes, users won’t be able to get a good connection.

Many existing satellite internet service providers use dishes at point-of-use to enable the connection, but they typically work with installers to set it up for users. SpaceX might also go that route following the beta period, but it clearly wants to limit access during this pre-launch testing period.

The service

Starlink service quality should be “high” when properly connected, but it also “will not be consistent” according to the company in the FAQ. That’s because SpaceX will be performing remote software updates and other network optimizations throughout the testing program, meaning it won’t be suitably as a solution for “gaming or work purposes,” according to the site text.

Starlink also notes that it will be monitoring all activity on the network during the testing period and forbids specifically “illegal activities” such as downloading or storing pirated materials, and that it reservers the right to “suspend or terminate” beta tester participation based on any such activity.

Users are allowed to cancel their participation at any time, and are encouraged to only install the hardware if they’re able to safely access an area suitable for doing so (so, if you’re in a shared dwelling like an apartment, that may limit your ability to take part).

Beta tester responsibilities

Beta testers are required to keep the details of their participation confidential, including things like network speed and quality, according to Starlink. They’re also expected to dedicate between 30 minus and an hour per day to “testing the Starlink Services and providing feedback on a periodic basis,” with feedback delivered via “surveys, phone calls, emails and other means.”

Starlink also specifies that participants be ready to send back their Starlink kits at the end of the beta period (at Starlink’s shipping cost), or at any time that it’s requested. The company also says that it will require credit card or debit information and will charge a “nominal fee” (which doesn’t seem finalized, but would range from $1 to $3 at setup, and then recurring monthly) in order to “test SpaceX’s ordering and billing systems,” but it notes specifically that the actual Starlink service is provided free, as well as the loaner hardware, for the duration of the test.

Starlink emailed potential beta testers saying to expect the private beta to kick off this summer, so it’s not surprising to see they already have assets and content in place to get it up and running for those invited to participate. If all goes well, the company hopes to expand that to an open beta, with initial coverage in the northern U.S. and Canada, and expand that to more geographies next year after additional satellite launches.

TC Early Stage is kicking off on July 21 & 22 which is just a few short days and we’re excited to be able to gather the most prominent experts in marketing, contract building, hiring and funding to help early stage founders succeed. Consider it our version of a founder masterclass where you can arm yourself with the tools and perspective to keep your business growing. We are going to hit capacity soon and many of our most popular sessions are filling up. Register today to secure your seat and register for this one-of-a-kind event.

Just one of the sessions you might be able to attend as an early-stage founder is the Sequoia AMA, where you’ll hear firsthand from some of Sequoia’s partners who are on the front lines helping founders build legendary companies from idea to IPO and beyond. You’ll be able to ask partners Jess Lee, Konstantine Buhler, Mike Vernal and Stephanie Zhan your most pressing questions, from how to seek capital and create an enduring culture to how to develop a differentiated product and make your customers love you.

This session is only available to founders registered for TC Early Stage – once you register, you’ll be sent a link to apply to participate in this private session during the event. Session applications end this Friday, July 17 so don’t wait – Register now!

Apple News is getting a significant upgrade. The news aggregation app, which ships preinstalled on Apple devices, is introducing several new features for readers and premium subscribers, including audio stories, a daily audio briefing called “Apple News Today,” and expanded local coverage.

The audio briefing is somewhat of a competitor to Alexa’s Flash Briefing, which has become a popular way to catch up on the top news headlines. But in Apple’s case, the briefing is hosted by people, not a virtual assistant. Apple News editors and co-hosts, Shumita Basu and Duarte Geraldino, will guide listeners through the day’s headlines. They will then spend the remainder of the briefing discussing around three or four articles in a more in-depth fashion.

In total, the briefing will run for roughly seven to eight minutes in length and will be accessible to all Apple News readers in the U.S.

A new briefing will arrive every Monday through Friday, and can be played in the Apple News app in the U.S., in Apple Podcasts, or it can be launched using Siri voice commands across Apple devices, including Mac and HomePod.

Another new audio feature, audio stories, is only being made available to Apple News+ subscribers, however.

Starting today, Apple News will produce around 20 new audio stories per week across a range of topics, which are narrated by voice actors. These stories aren’t original content, but will instead be professionally-narrated versions of feature reporting and other long-form pieces published by Essence, Esquire, Fast Company, GQ, New York Magazine, Sports Illustrated, TIME, Vanity Fair, Vogue, Wired, and others, as well as newspapers like  The Wall Street Journal and the Los Angeles Times.

Apple several years ago had partnered with SpokenLayer to bring audio narration to the news, but that effort was focused on enhancing the Apple Podcasts experience. The company says it’s not partnered with SpokenLayer on the new feature for Apple News, but is instead working with voice talent itself and recording these audio stories in its own studios. Apple declined to say how many have been hired to work on audio programming for Apple News, but did confirm it expanded headcount specifically for audio.

The audio stories will be made available to subscribers in the U.S. only. Apple didn’t say if it’s planning to expand the offering to international markets.

To make room for the new audio features, the Apple News app navigation experience has been redesigned. There’s now an “Audio” tab directing users to the new content at the bottom of the news application, in between the “News+” and “Following” tabs at the bottom of the screen. When tapped, users will first see the latest episode of Apple News Today at the top of the screen, following by the new Audio Stories that you’ve added to your Up Next queue. Below that will be a set of personalized recommendations of what to listen to next.

While the tab organizes the new audio programming, users will also be introduced to audio as they’re browsing elsewhere in the app. For example, as you’re scrolling through news stories in the Today tab or reading News+ feeds, a new audio News+ badge will appear next to stories that have narration. You can then click that story to begin the narration without having to change screens. The feature will also allow you to transition back and forth between reading and listening as it will remember where you left off in a longer piece, and begin there when you return.

Related to these efforts, CarPlay will support the News app so users can listen to these audio stories and the Apple News Today briefing while driving. Listening progress will also sync between devices, as you move from iPhone to car and back again.

While the big news today is the audio programming coming to Apple News, the app is also today introducing expanded local coverage.

In select markets — San Francisco and the wider Bay Area, New York, L.A., and Houston — Apple News will feature a curated local news experience headed by a local editor. These sections will include a wider range of stories across areas like local weather, politics, sports, dining and restaurants, and other news and will be personalized to each reader. Apple News rival Flipboard recently launched a similar feature to capitalize on the growing demand for local news, particularly amid the coronavirus pandemic where readers need access to their city and state’s reports of the impact of COVID-19 on their daily lives.

Apple News+ also today expanded its selection of local and regional newspapers to now offer access to The Charlotte Observer, The Idaho Statesman, The Kansas City Star, the Miami Herald, The News & Observer (Raleigh, NC), and The State (Columbia, SC), in the U.S. In Canada it added French-language newspaper Le Devoir and will bring on The Globe and Mail later this summer.

While the Apple News platform currently reaches over 125 million monthly active users in the U.S., U.K. Australia, and Canada, the uptake on the News+ subscription has reportedly seen struggles in terms of growing its paid subscriber base. Earlier this year, Apple’s News service business chief, Liz Schimel, who managed relationship with publishers and advertisers, stepped down after the subscription service’s slow start, Bloomberg reported.

Publishers participating in Apple News+ keep 100% of the revenue from ads they sell and can participate in backfill ads that Apple sells, keeping 70% of the revenue. They can also sell their own subscription and receive a cut of Apple News+ revenue, based on engagement.

But not all publishers believe Apple News+ is the best way to grow their business. The New York Times, for example, announced in June it will no longer distribute articles in the Apple News app.

Despite the reports, Apple says it’s pleased with Apple News+ traction. But today’s new features are clearly designed to spark growth for the $9.99 per month paid subscription.

The new Apple News features will come by way of software updates ( iOS 13.6, iPadOS 13.6, or macOS 10.15.6), arriving today.

 

Jason Green, co-founder and partner at Emergence, is one of the leading VCs investing in enterprise startups at the moment. But even with the focus on B2B, many of their companies have become household names — Zoom, Yammer, Box and Salesforce among them.

Now, we’re all living in a climate where everything has been turned upside down. Meetings are virtual, the future economy and collective health of the world are unknowns, and being an investor — or a founder — comes with completely new parameters and rules of engagement.

We sat down with Green for an enlightening hour to talk about the challenges of all that, plus making deals, running a business, and suddenly finding your quiet, B2B name being turned into a verb. It was an interesting conversation, worth a read for enterprise startups and investors, but — similar to how B2B can spill into consumer — equally insightful for many more.

Extra Crunch Live is our new virtual speaker series for Extra Crunch members. Folks can ask their own questions live during the chat, with guests that include Aileen Lee, Kirsten Green, Mark Cuban and many, many more. You can check out the schedule here.

Below, you’ll find a lightly edited transcript of our recent chat with Green.

How is sourcing impacted in the current climate?

Sourcing is not much different. We follow the same due diligence process, so when we make an investment, the whole team basically dives in and does due diligence. So we make manager references and customer calls and spend time with each of the management team having one-on-ones. In some ways, it was better. First of all, we could very easily do breakout rooms with each of the individual management team members and then come back. So there was this dynamism to the meeting that we hadn’t had before. We were able to basically record it and share it with folks that couldn’t participate. So all of us had all the information when we were making the decision together. That was pretty special, actually. So it took a little bit longer, it probably took about 50% longer than we would have done otherwise. But I think actually, now knowing what we’ve done, we could probably compress it back to our normal timeframe. So I think in a lot of ways, we’ve learned like a lot of folks that we can do things remotely that we probably didn’t think were possible before. Hopefully, we’ll see how the investment turns out, but we’re super excited about it.

Are you considering more startups outside the Valley, and how are they viewing their own place outside the Valley?