Author: azeeadmin

22 Mar 2019

Pinterest drops its IPO filing

Pinterest, the nearly decade-old visual search engine, has unveiled its S-1 as it prepares for an initial public offering expected in April.

The paperwork emerged just hours after another tech unicorn, Zoom, filed to go public, too.

Pinterest, valued at $12.3 billion in 2017, took its first official step toward a 2019 IPO, hiring Goldman Sachs and JPMorgan Chase as lead underwriters for its big offering.

Pinterest has raised around $1.5 billion in venture capital funding, listing both early- and late-stage investors on its cap table. 

Other investors include Valiant Capital Partners, Wellington Management and SV Angel.

Pinterest counts 250 million monthly active users and brought in some $700 million in ad revenue in 2018, per reports, a 50 percent increase year-over-year. The business employs 1,600 people across 13 cities, including Chicago, London, Paris, São Paulo, Berlin and Tokyo.

Several billion-dollar tech companies have made the choice to go public in 2019, even after a weeks-long government shutdown caused a significant delay in IPOs. Pinterest follows Lyft, which unveiled its S-1 and nearly $1 billion in 2018 losses just three weeks ago. Uber and Slack are both expected to make their IPO paperwork available to the public soon.

Pinterest may be looking to benefit of the IPO hype spearheaded by Uber and Lyft though The Information has previously reported the offering could suffer because it’s a social media business, which means it is often compared to the likes of Facebook and Twitter, a pair of companies that have repeatedly raised concerns about user privacy.

This story is updating.

22 Mar 2019

Zoom, a profitable unicorn, files to go public

Zoom, the video conferencing startup valued at $1 billion in early 2017, has filed to go public on the Nasdaq as soon as next month.

The company joins a growing list of tech unicorns making the leap to the public markets in 2019, but it stands out for one very important reason: It’s actually profitable.

Zoom was founded in 2011 by Eric Yuan, a co-founder of WebEx, which sold to Oracle for $3.2 billion in 2007. Before launching Zoom, he spent four years at Cisco as its vice president of engineering. In a conversation with TechCrunch last month, he said he would never sell another company again, hinting at his dissatisfaction at WebEx’s post-acquisition treatment being his motivation for taking Zoom public as opposed to selling.

Zoom, which raised a total of $145 million to date, posted $330 million in revenue in the year ending January 31, 2019, a remarkable 2x increase year-over-year, with a gross profit of $269.5 million. The company similarly more than doubled revenues from 2017 to 2018, wrapping fiscal year 2017 with $60.8 million in revenue and 2018 with $151.5 million.

The company’s losses are shrinking, from $14 million in 2017, $8.2 million in 2018 and just $7.5 million in the year ending January 2019.

Zoom is backed by Emergence Capital, which owns a 12.5 percent pre-IPO stake, according to the IPO filing. Other investors in the business include Sequoia Capital (11.4 percent pre-IPO stake); Digital Mobile Venture (9.8 percent), a fund affiliated with former Zoom board member Samuel Chen; and Bucantini Enterprises Limited (6.1 percent), a fund owned by Li Ka-shing, a Chinese billionaire and among the richest people in the world.

Morgan Stanley, JP Morgan and Goldman Sachs have been recruited to lead the offering.

22 Mar 2019

What to expect from Apple’s ‘Show Time’ event

The biggest surprise about next week’s Apple event may be the fact that the company has anything left to announce. This week, several core pieces of Apple hardware received upgrades, including the iPad Air and Mini, iMac and AirPods. Given the company’s rush to get all of that out the door, we don’t expect to see much in the way of new devices at Monday’s event.

Apple sent invites announcing that March 25 will be “Show Time.” The wording was a subtle nod the the “It’s Showtime” invites the company sent for its 2006 Special Event, which saw the announcement of, among other things iTV — an early peek at the product that would launch as Apple TV the following year.

This time out, however, the company is all about the services. Taking center stage will be its long-awaited original content play. Apple couldn’t keep the news fully under wraps as it pumped around $1 billion into content, so we’ve been hearing dribs and drabs over the past year or so (more on that below), including hiring everyone from Oprah to Spielberg.

The service is set to compete with the biggest names in streaming, including Amazon, Netflix and Hulu, along with long-rumored newcomers like Disney. Among the more compelling reports we’ve seen surface so far involve the company helping to sell you other streaming services.

In a sense, it wouldn’t be entirely unlike the current Apple TV model. Reports have the company building a new content store focused on offering bundles with cable services like HBO, Showtime and Starz. Put more simply, Apple may be looking to disrupt cable TV by essentially becoming a cable TV provider. Its tremendous hardware outreach will play a major role in helping it gain a toehold — like Apple Music before it.

As for the original content, it’s not clear whether Apple plans to monetize these shows at all. Instead, reports suggest that it could make them available for free to viewers with an Apple device.

Here are all of the projects that have been revealed so far. Keep in mind that that they’re in various stages of development, and as such may change dramatically or never see the light of day.

  • “Amazing Stories” — a reboot of the science fiction anthology series executive produced (in both its old and new versions) by Steven Spielberg.
  • “Are You Sleeping?” — a crime show about true crime podcasts, executive produced by Reese Witherspoon and starring Octavia Spencer.
  • “Calls” — an adaptation of a French short-form series emphasizing audio storytelling.
  • “Central Park” — an animated musical comedy from Loren Bouchard (creator of “Bob’s Burger”), as well as Josh Gad and Nora Smith.
  • “Defending Jacob” — a thriller adapted from William Landay’s novel, starring Chris Evans.
  • “Dickinson” — a coming-of-age series about the poet Emily Dickinson, starring Hailee Steinfeld.
  • “For All Mankind” — a space race-themed science fiction series from Ronald D. Moore, who created the acclaimed reboot of “Battlestar Galactica.”
  • “Foundation” — an adaptation of the classic science fiction series by Isaac Asimov, with David S. Goyer and Josh Friedman as showrunners.
  • “Home” — a documentary series about extraordinary homes.
  • “Little America” — an immigrant-themed anthology series showrun by Lee Eisenberg (“The Office”) and Alan Yang (“Master of None”).
  • “Little Voice” — a romantic dramedy executive produced by J.J. Abrams and the creative team behind the “Waitress” musical, Sara Bareilles and Jessie Nelson.
  • “Losing Earth” — a series based on Nathaniel Rich’s New York Times magazine story and book about the history of climate activism.
  • “Magic Hour” — a mystery series inspired by the real-life story of Hilde Lysiak, executive produced and directed by Jon M. Chu (“Crazy Rich Asians”).
  • “My Glory Was I Had Such Friends” — a series that reunites J.J. Abrams and Jennifer Garner (Garner will star, and both will executive produced), based on the Amy Silverstein memoir of the same name.
  • “Pachinko” — a series based on the Min Jin Lee novel, a multi-generational saga about a Korean family.
  • “See” — a science fiction drama written by Steven Knight (“Peaky Blinders”) and directed by Francis Lawrence (multiple “Hunger Games” sequels).
  • “Shantaram” — A series based on the novel by Gregory David Robert, about a man who escapes from an Australian prison and ends up in Bombay.
  • “Swagger” — a scripted series inspired by basketball star Kevin Durant’s life.
  • “The Morning Show” — a drama about the world of morning TV, starring Jennifer Aniston, Reese Witherspoon and Steve Carell.
  • “Time Bandits” — a reboot of the cult classic Terry Gilliam film, co-written and directed by Taika Waititi.
  • Untitled Brie Larson series — a show featuring the “Captain Marvel” star, based on the real-life experiences of undercover CIA operative Amaryllis Fox.
  • Untitled Colleen McGuinness series — a comedy series inspired by Curtis Sittenfeld’s short story collection “You Think It, I’ll Say It.”
  • Untitled Damien Chazelle series — not much is known about the content of the series, but the “La La Land” director is expected to write and direct every episode of the first season.
  • Untitled M. Night Shyamalan series — a thriller written by Tony Basgallop, with Shyamalan directing the first episode and executive producing.
  • Untitled Oprah projects — Oprah Winfrey has signed a multi-year partnership to produce original content for Apple, though what kinds of content remains to be seen.
  • Untitled Snoopy series — a short-form series starring Snoopy and focused on STEM, which is part of a larger “Peanuts” deal between Apple and Canadian broadcaster DHX Media.
  • Untitled Richard Gere series — a drama based on the Israeli show “Nevelot.”
  • Untitled Rob McElhenny/Charlie Day series — a comedy from the team behind “It’s Always Sunny in Philadelphia,” with McElhenny playing an employee at a video game studio.
  • Untitled Simon Kinberg/David Weil series — a science fiction series co-written by Kinberg, a longtime writer and producer of “X-Men” movies.

That will no doubt monopolize the majority of the event, but Apple could well have some surprises up its sleeve. The leading contender for a second announcement is the company’s long-rumored subscription news service. As with its movie/TV plans, Apple’s reportedly been talking to a number of different publishers to launch what some are referring to as a “Netflix for News,” which would expand on its acquisition of digital magazine app Texture.

Reports have noted, however, that many outlets are less than thrilled about revenue share that would come with the services paid tier. Still, some big publishers, including The Wall Street Journal, are said to already be on-board for launch.

A third major rumor finds the company launching a consumer credit card through a partnership with Goldman Sachs. The investment giant’s CEO is reportedly planning to attend the event in order to launch a co-branded card.

Everything kicks off at 10am Pacific on Monday, March 25. TechCrunch will be on-hand to bring you the news as it breaks.

22 Mar 2019

Clark, a venture-backed tutoring platform, will now help tutors build their own sites

A couple of years ago, Clark, a New York-based startup, appeared on the scene with tutoring software that aimed to both make it easier for educators to start and manage a tutoring business by handling on its platform all the work that tutors struggle to find time to do, from drumming up students, to managing scheduling and payments, to making it far simpler to communicate with parents.

Today the company is announcing a bit of a shift, moving away from simply selling access to its business software for a monthly subscription fee and helping tutors set up their very own storefronts, replete with websites, certifications, marketing materials, and even clients who Clark is helping them to find.

How it will work, from a dollars standpoint: Clark will charge an upfront fee for setting up the business and getting it off the ground, then charge a smaller monthly fee for use of the its software, which is 15 percent of sessions fees for students who are referred by Clark for the initial year, and then 15 percent of all sessions after that.

Called its “business in a box” product, it’s an interesting twist and part of a broader wave of startups that are capitalizing on the growing number of people who are self employed, or who want to be, or who simply want to supplement their income with a ‘side hustle.’ Bird’s recent decision to partner with local entrepreneurs in other parts of the world who will manage their own fleets of its electric scooters (and pay Bird a cut of their revenue), is another recent example. Clark may also have drawn inspiration from Wonderschool, a venture-backed startup that’s empowering early childhood educators to open their own in-home preschools or day cares while it handles the administration and logistics.

What teachers get with this new product, specifically, is support in building their business from the ground up, including website creation and branding, building a presence on review sites, marketing the business and search engine optimization, and a hands-on bootcamp for managing a business that covers things like setting rates and managing clients, according to cofounder and CEO Megan O’Connor. She also tells us that once a business is off the ground, customers will get access to the company’s software, which should allow them to schedule tutoring sessions, manage payments and invoices, give session feedback to parents through a communications tool, and match with new students. Not last, Clark has a dedicated customer success team based in New York, says O’Connor, so clients have somewhere to turn.

According to Clark, the startup has so far facilitated roughly 20,000 tutoring sessions and it has hundreds of businesses across the country using its existing service. It’s because many of these clients weren’t sure how to get their businesses of the ground that Clark adopted this new model, which will also strive to connect parents with educators that match their children’s needs (parents have final say over who ultimately hire)

Clark has raised just $1 million to date, including from Lightspeed Venture Partners, Rethink Education, Flatworld Partners and Winklevoss Capital —  money it has using to grow its business along with the revenue it has brought in from the outset by charging for its services.

Whether its new direction speeds up its momentum remains an open question, but the company is operating in a huge market. According to some new market research on the global private tutoring opportunity, the market was valued at $96 billion in 2017, and it’s expected to generate more than $177 billion by 2026.

22 Mar 2019

Gates-backed Lumotive upends lidar conventions using metamaterials

Pretty much every self-driving car on the road, not to mention many a robot and drone, uses lidar to sense its surroundings. But useful as lidar is, it also involves physical compromises that limit its capabilities. Lumotive is a new company with funding from Bill Gates and Intellectual Ventures that uses metamaterials to exceed those limits, perhaps setting a new standard for the industry.

The company is just now coming out of stealth, but it’s been in the works for a long time. I actually met with them back in 2017 when the project was very hush-hush and operating under a different name at IV’s startup incubator. If the terms “metamaterials” and “Intellectual Ventures” tickle something in your brain, it’s because the company has spawned several startups that use intellectual property developed there, building on the work of materials scientist David Smith.

Metamaterials are essentially specially engineered surfaces with microscopic structures — in this case, tunable antennas — embedded in them, working as a single device.

Echodyne is another company that used metamaterials to great effect, shrinking radar arrays to pocket size by engineering a radar transceiver that’s essentially 2D and can have its beam steered electronically rather than mechanically.

The principle works for pretty much any wavelength of electromagnetic radiation — i.e. you could use X-rays instead of radio waves — but until now no one has made it work with visible light. That’s Lumotive’s advance, and the reason it works so well.

Flash, 2D, and 1D lidar

Lidar basically works by bouncing light off the environment and measuring how and when it returns; This can be accomplished in several ways.

Flash lidar basically sends out a pulse that illuminates the whole scene with near-infrared light (905 nanometers, most likely) at once. This provides a quick measurement of the whole scene, but limited distance as the power of the light being emitted is limited.

2D or raster scan lidar takes a NIR laser and plays it over the scene incredibly quickly, left to right, down a bit, then do it again, again, and again… scores or hundreds of times. Focusing the power into a beam gives these systems excellent range, but similar to a CRT TV with an electron beam tracing out the image, it takes rather a long time to complete the whole scene. Turnaround time is naturally of major importance in driving situations.

1D or line scan lidar strikes a balance between the two, using a vertical line of laser light that only has to go from one side to the other to complete the scene. This sacrifices some range and resolution but significantly improves responsiveness.

Lumotive offered the following diagram, which helps visualize the systems, although obviously “suitability” and “too short” and “too slow” are somewhat subjective:

The main problem with the latter two is that they rely on a mechanical platform to actually move the laser emitter or mirror from place to place. It works fine for the most part, but there are inherent limitations. For instance, it’s difficult to stop, slow, or reverse a beam that’s being moved by a high speed mechanism. If your 2D lidar system sweeps over something that could be worth further inspection, it has to go through the rest of its motions before coming back to it… over and over.

This is the primary advantage offered by a metamaterial system over existing ones: electronic beam steering. In Echodyne’s case the radar could quickly sweep over its whole range like normal, and upon detecting an object could immediately switch over and focus 90 percent of its cycles tracking it in higher spatial and temporal resolution. The same thing is now possible with lidar.

Imagine a deer jumping out around a blind curve. Every millisecond counts because the earlier a self-driving system knows the situation, the more options it has to accommodate it. All other things being equal, an electronically-steered lidar system would detect the deer at the same time as the mechanically-steered ones, or perhaps a bit sooner; Upon noticing this movement, could not just make more time for evaluating it on the next “pass,” but a microsecond later be backing up the beam and specifically targeting just the deer with the majority of its resolution.

Just for illustration. The beam isn’t some big red thing that comes out.

Targeted illumination would also improve the estimation of direction and speed, further improving the driving system’s knowledge and options — meanwhile the beam can still dedicate a portion of its cycles to watching the road, requiring no complicated mechanical hijinks to do so. Meanwhile it has an enormous aperture, allowing high sensitivity.

In terms of specs, it depends on many things, but if the beam is just sweeping normally across its 120×25 degree field of view, the standard unit will have about a 20Hz frame rate, with a 1000×256 resolution. That’s comparable to competitors, but keep in mind that the advantage is in the ability to change that field of view and frame rate on the fly. In the example of the deer, it may maintain a 20Hz refresh for the scene at large but concentrate more beam time on a 5×5 degree area, giving it a much faster rate.

Meta doesn’t mean mega-expensive

Naturally one would assume that such a system would be considerably more expensive than existing ones. Pricing is still a ways out — Lumotive just wanted to show that its tech exists for now — but this is far from exotic tech.

CG render of a lidar metamaterial chip.The team told me in an interview that their engineering process was tricky specifically because they designed it for fabrication using existing methods. It’s silicon-based, meaning it can use cheap and ubiquitous 905nm lasers rather than the rarer 1550nm, and its fabrication isn’t much more complex than making an ordinary display panel.

CTO and co-founder Gleb Akselrod explained: “Essentially it’s a reflective semiconductor chip, and on the surface we fabricate these tiny antennas to manipulate the light. It’s made using a standard semiconductor process, then we add liquid crystal, then the coating. It’s a lot like an LCD.”

An additional bonus of the metamaterial basis is that it works the same regardless of the size or shape of the chip. While an inch-wide rectangular chip is best for automotive purposes, Akselrod said, they could just as easily make one a quarter the size for robots that don’t need the wider field of view, or an larger or custom-shape one for a specialty vehicle or aircraft.

The details, as I said, are still being worked out. Lumotive has been working on this for years and decided it was time to just get the basic information out there. “We spend an inordinate amount of time explaining the technology to investors,” noted CEO and co-founder Bill Colleran. He, it should be noted, is a veteran innovator in this field, having headed Impinj most recently, and before that was at Broadcom, but is perhaps he is best known for being CEO of Innovent when it created the first CMOS Bluetooth chip.

Right now the company is seeking investment after running on a 2017 seed round funded by Bill Gates and IV, which (as with other metamaterial-based startups it has spun out) is granting Lumotive an exclusive license to the tech. There are partnerships and other things in the offing but the company wasn’t ready to talk about them; the product is currently in prototype but very showable form for the inevitable meetings with automotive and tech firms.

22 Mar 2019

Mailchimp and Shopify break up

Shopify today announced that the Mailchimp app, which let its users use their Shopify data to create targeted email campaigns, for example, is no longer available in its marketplace. The reason for this, Shopify says, is that it “had growing concerns about Mailchimp’s app because of the poor merchant experience and their refusal to respect our Partner Program Agreement.”

Clearly, this isn’t the most amicable divorce.

“It’s critical for our merchants to have accurate, complete insight into their businesses and customers, and this isn’t possible when Mailchimp locks in their data,” Shopify explains. “Specifically, Mailchimp refuses to synchronize customer information captured on merchants’ online stores and email opt-out preferences. As a result, our merchants, other apps, and partner ecosystem can’t reliably serve their customers or comply with privacy legislation.”

Unsurprisingly, Mailchimp’s side of the story is a bit different. “Yesterday, we asked Shopify to remove the Mailchimp for Shopify integration from their marketplace,” the company wrote. “We made this decision because Shopify released updated terms that would negatively impact our business and put our users at risk.”

Mailchimp says it refused to provide Shopify with all the customer data it asked for because Shopify’s terms simply weren’t fair or practical. “We have been negotiating for months with Shopify on trying to get terms that were very fair and equitable to both of our businesses — and there were several points that we just weren’t willing to compromise on,” Christina Scavone, director of corporate communications told me. “Anything that hurts our customers’ privacy was a non-starter for us.” She also told me that Shopify specifically asked for pretty much any data Mailchimp collects about its users, including data it collected in the past since the app was installed. “We had no data of getting that consent from our users retroactively,” Scavone noted.

There may be another wrinkle to this story, too. In recent months, Mailchimp partnered with Square to launch its shoppable landing pages. That puts Mailchimp deeper into the e-commerce business and into competition with Shopify.

In its statement, Mailchimp argues that it integrates with more than 150 different apps and platforms. “We won’t compromise on that just because Shopify sees it as a competitive threat,” the company wrote. “We want people to have choices,” Scavone added. “The marketplace is starting to collide and people are starting to compete with each other and many of our other partners are also in our space and we would never limit a competitor from what they were willing to do for their business.”

In the end, we’ve got two companies that both argue they are putting their customers’ privacy first. This doesn’t strike me as a conflict where there was no reasonable compromise to be had, though, so in the end, it’s now on both companies’ customers to figure out what to do next.

For users, there are still plenty of other options, including the use of third-party integrations that link the two services together, including Zapier, Automate.io and ShopSync. Indeed, using those is Mailchimp’s recommendation for its current users.

22 Mar 2019

Firefox is now a better iPad browser

Mozilla today announced a new iOS version of Firefox that has been specifically optimized for Apple’s iPad. Given the launch of the new iPad mini this week, that’s impeccable timing. It’s also an admission that building a browser for tablets is different from building a browser for phones, which is what Mozilla mostly focused on in recent years.

“We know that iPads aren’t just bigger versions of iPhones,” Mozilla writes in today’s announcement. “You use them differently, you need them for different things. So rather than just make a bigger version of our browser for iOS, we made Firefox for iPad look and feel like it was custom made for a tablet.”

So with this new version, Firefox for iPad gets support for iOS features like split screen and the ability to set Firefox as the default browser in Outlook for iOS. The team also optimized tab management for these larger screens, including the option to see tabs as large tiles, “making it easy to see what they are, see if they spark joy and close with a tap if not.” And if you have a few tabs you want to share, then you can do so with the Send Tabs feature Mozilla introduced earlier this year.

Starting a private browsing session on iOS always took a few extra tabs. The iPad version makes this a one-tap affair as it prominently highlights this feature in the tab bar.

Because quite a few iPad users also use a keyboard, it’s no surprise that this version of Firefox also supports keyboard shortcuts.

If you are an iPad user in search of an alternative browser, Firefox may now be a viable option for you. Give it a try and let us know what you think in the comments (just don’t remind us how you work from home for only a few hours a day and make good money… believe me, we’re aware).

22 Mar 2019

Talk about the big news from GDC with TechCrunch writers

The Game Developers Conference concludes today in San Francisco but that doesn’t mean our coverage is over.

TechCrunch writer Lucas Matney and Extra Crunch contributor Eric Peckham were at the Moscone Center and got a first-hand glimpse into what is coming up for gamers and developers alike. And at noon PT today they’ll be sharing what they saw with Extra Crunch members on a conference call.

First, there can be no discussion about gaming news this week without mentioning Google’s new game-streaming service Stadia. As Lucas wrote this week, the service will let gamers leave their hefty GPUs and expensive systems behind … and the service can be used on devices with a Chrome browser and an internet connection.

They’ll also be discussing the latest about game engines, VR and voice-based gaming.

To listen to the call and the opportunity to participate in future conference calls, become a member of Extra Crunch. Learn more and try it for free. 

22 Mar 2019

Crunchyroll raises its monthly subscription price to $7.99

Crunchyroll is announcing its first major price increase since the anime streaming service launched in 2006.

Prices for its premium subscription will go up in the United States, Great Britain, Australia and the Nordics — in the U.S. and Australia, the monthly price will increase from $6.95 to $7.99 (or $79.99 per year), while British subscribers will see their bill go up from £4.99 to £6.50 (or £64.99 per year).

You don’t need to pay to watch Crunchyroll content, but a subscription gives you access to an ad-free experience, simulcasts shortly after a program airs in Japan and full access to the Crunchyroll library.

The company says it has 12 million active monthly users and 2 million paying subscribers.

As for why it’s raising prices after so many years, a spokesperson suggested this is a natural part of Crunchyroll’s evolution, as it’s transformed from a site that depended on fans for (often-pirated) content, to one that works with all the major Japanese licensors, and claims to hold more than 90 percent of the world’s anime content in its library.

“Crunchyroll has the world’s largest collection of anime and we are grateful to have focused on building out such a robust library for over the last decade, without a price change in our company history,” the spokesperson said. “However, due to rising costs of content and infrastructure, now is the time to introduce new subscription pricing.”

Current monthly subscribers will be able to continue paying their current price for another three months, while annual subscribers be “grandfathered” at their current price for another year.

This also comes amidst broader corporate changes. Following AT&T’s acquisition of the company now called WarnerMedia, it also took full ownership of Otter Media. And WarnerMedia has clearly been rethinking the strategy behind its individual streaming sites as it plans to launch a more comprehensive service later this year.

22 Mar 2019

Daily Crunch: Facebook admits password security lapse

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here.

1. Facebook admits it stored ‘hundreds of millions’ of account passwords in plaintext

Prompted by a report by cybersecurity reporter Brian Krebs, Facebook confirmed that it stored “hundreds of millions” of account passwords in plaintext for years.

The discovery was made in January, said Facebook’s Pedro Canahuati, as part of a routine security review. None of the passwords were visible to anyone outside Facebook, he said. Facebook admitted the security lapse months later, after Krebs said logs were accessible to some 2,000 engineers and developers.

2. To fund Y Combinator’s top startups, VCs scoop them before Demo Day

What many don’t realize about the Demo Day tradition is that pitching isn’t a requirement; in fact, some YC graduates skip out on their stage opportunity altogether. Why? Because they’ve already raised capital or are in the final stages of closing a deal.

3. MoviePass parent’s CEO says its rebooted subscription service is already (sort of) profitable

We interviewed the CEO of Helios and Matheson Analytics to discuss the service’s tumultuous year and future plans.

4. Robotics process automation startup UiPath raising $400M at more than $7B valuation

UiPath develops automated software workflows meant to facilitate the tedious, everyday tasks within business operations.

5. Microsoft Defender comes to the Mac

Previously, this was a Windows solution for protecting the machines of Microsoft 365 subscribers, and the assets of the IT admins that try to keep them safe. It was previously called Windows Defender ATP, but launching on the Mac has prompted a name change.

6. Homeland Security warns of critical flaws in Medtronic defibrillators

The government-issued alert warned that Medtronic’s proprietary radio communications protocol, known as Conexus, wasn’t encrypted and did not require authentication, allowing a nearby attacker with radio-intercepting hardware to modify data on an affected defibrillator.

7. Nintendo’s Labo: VR Kit is not Virtual Boy 2.0

Like the first Labo kits, the VR Kit a friendly reminder that Nintendo’s chief job is to surprise and delight, and it delivers on both fronts. But just as the Labo piano shouldn’t be mistaken for a real musical instrument, Labo VR should not be viewed as “real” virtual reality.