Category: UNCATEGORIZED

23 Nov 2020

Netflix says ‘The Queen’s Gambit’ is setting viewership records

“The Queen’s Gambit” is setting viewership records at Netflix, the streaming service said today.

Like all the viewership data that Netflix has released this year, these new numbers reflect how many people “chose to watch” — in other words, how many people watched at least two minutes of a given show or movie. In the case of “The Queen’s Gambit,” the number is 62 million households for the first 28 days of release, making it Netflix’s most popular scripted limited series ever.

You may have noticed some qualifiers there. “The Queen’s Gambit” beat out other limited series, like co-creator Scott Frank’s previous show “Godless,” but not Netflix’s biggest ongoing hits, such as “The Witcher” (76 million households watching season one). It also fell just a bit short of the limited-but-unscripted documentary series “Tiger King,” which reached 64 million households during its first four weeks.

The numbers are still pretty impressive for a series with what seems like a decidedly un-commercial promise — following a troubled young woman as she rises through the ranks of competitive chess, eventually challenging the Soviet Union’s world champion. But the series has benefited from excellent reviews (100% on Rotten Tomatoes) and the fact that it’s very, very good.

Indeed, its impact can be seen outside Netflix’s viewing numbers. The 37-year-old Walter Tevis novel on which it’s based has become a New York Times bestseller, while sales of chess sets have increased dramatically.

“Three years ago when Scott Frank … first approached us about adapting ‘The Queen’s Gambit’ — Walter Tevis’ 1983 book about a young chess prodigy — we felt it was a compelling tale,” Netflix’s vice president for original series Peter Friedlander wrote in a blog post. “Beth is an underdog who faces addiction, loss and abandonment. Her success — against the odds — speaks to the importance of perseverance, family, and finding, and staying true to, yourself.”

 

23 Nov 2020

Founders seeking their first check need a fundraising sales funnel

Milana Lewis, CEO and co-founder of music tech startup Stem, started the fundraising process long before she actually asked any investors for money (dig the well before you’re thirsty — it’s the best way). She recommends that other founders do the same.

Ten years ago, Milana started working at United Talent Agency (UTA), one of the world’s leading talent agencies. When tasked with finding the best tools and technologies that UTA’s clients could use to self-distribute their work, she discovered a glaring gap.

“There were all these tools built for the distribution of content, monetization of content and audience development,” she says. “The last piece missing was the financial aspect.” The entertainment industry desperately needed a platform that would help artists manage the financial side of their business — and that’s how the idea for Stem was born.

Because UTA had its own investment branch, called UTA Ventures, Milana’s job also introduced her to some brilliant investors. Years later, when it was time to fundraise for Stem, those connections played a pretty big role.

In an episode of How I Raised It, Milana shared how Stem has landed some superstar investors and raised a little under $22 million.

1. Bring investors along for the ride — from the very start

Milana’s involvement with UTA Ventures exposed her to the investor experience and put her in the same room as people like Gary Vaynerchuk, Jonathon Triest from Ludlow Ventures, Anthony Saleh from Wndrco and Scooter Braun.

After meeting them the first time, she made sure to nurture those relationships, and she was “honest and vulnerable” about the fact that she wanted to be an entrepreneur one day.

“It’s amazing how much people will help and support you along in that journey,” Milana says. Investors “get excited about making early-stage investments because they want to identify that person before anyone else does.”

As her idea for Stem came together, she shared that with them, too. Over the course of a year, she provided regular updates on her vision, like how she was building out her team, and she also called them for occasional advice.

By the time she approached some of them for funding, she didn’t even need to present a full pitch. By then, they already knew enough about Stem, and about Milana as a businesswoman. Her pitch meeting with Gary Vaynerchuk — the first person to invest — ended up being just 15 minutes long.

“I brought people on my entrepreneurial journey in the beginning,” Milana says. “The biggest piece of advice I could give is to start raising a year before you start raising. Start building relationships and data points.”

2. Become best friends with systems and deadlines

For each round, Milana put together a lead list — a list of potential investors who she either met socially or through business. Each time, she wanted to have at least 100 names on this list.

23 Nov 2020

Watch live as SpaceX tests the limits of Falcon 9 reusability with sixteenth Starlink satellite launch

SpaceX is set to launch its sixteenth Starlink mission on Monday at 9:34 PM EST (6:34 PM PST). This launch will carry 60 of the company’s broadband internet satellites to low-Earth orbit, where they’ll join the existing constellation and contribute to its growing network of eventually global coverage. The launch is also significant because it will potentially set a new record for Falcon 9 rocket reusability – this marks the seventh flight for the first stage booster flying tonight.

The booster SpaceX is using for this mission previously flew in August, June and January of this year, as well as May 2019, January 2019 and also September 2018. And that’s no the only way that this is SpaceX’s most reusable flights ever – the fairing covering the payload of satellites on top of the rocket includes one half that flew on one mission previously, and another half that supported not one, but two prior missions before being recovered and refurbished.

Of course, it’ll also be furthering SpaceX’s mission with Starlink, which is ultimately to provide fast, low-latency and relatively low-cost broadband internet access to hard-to-reach areas around the world. SpaceX has launched nearly 900 satellites for Starlink to date, and began operating its ‘Better Than Nothing’ early beta in parts of Canada last week, in addition to the areas in the U.S. where it’s offering this early access service.

The launch livestream will begin above at around 15 minutes prior to liftoff, or at around 9:19 PM EST (6:19 PM PST).

23 Nov 2020

Investors Lockheed Martin Ventures and SpaceFund are coming to TC Sessions: Space 2020

The space industry, once dominated by government-funded programs and a small handful of corporations, has seen a surge in startups in recent years. And with startups aplenty, the venture firms can never be far behind.

Venture capital has played an increasingly important role in rooting out the best and most promising of these startups. The stakes are even higher for the venture arms of corporations. Corporate venture firms are on the constant hunt for the technology that will keep their companies relevant for decades to come.

That’s why we’re excited to announce that Chris Moran, executive director and general manager at Lockheed Martin Ventures, and Meagan Crawford, managing partner at SpaceFund, will join us at our TC Sessions: Space event on December 16 & 17.

Moran leads Lockheed Martin Ventures efforts to invest in small technology businesses that support the company’s larger strategic business objectives. Prior to joining Lockheed Martin, Moran served in a variety of positions at Applied Materials Inc., most recently as the head of the business systems and analytics group.

More from the TC Sessions: Space agenda

Crawford isn’t just managing partner at SpaceFund . She’s an experienced space startup executive and founder. As the host of the Mission Eve podcast, she aims to increase the number of women in the space industry and is frequently featured as a thought leader on the industry’s development and investment potential. Crawford also chairs the board of the non-profit Center for Space Commerce and Finance.

She has more than a decade of experience helping educate entrepreneurs and investors through the NewSpace Business Plan Competition, which she started running in 2009. As a manager, coach and judge for the last decade, she has read over 1,000 space business executive summaries, coached hundreds of selected teams, and helped award cash prizes to dozens of NewSpace startups.

Crawford and Moran are tapped in and ready to share with the TechCrunch audience their insights and forecasts for our collective space future. We’ll dig into what their respective companies are paying attention to, the challenges and opportunities of COVID-19 and if a changing administration will change their investment strategy.

Starting today, we’re offering a BOGO deal. Buy one Late Registration ticket for $175 and get one free. You and a colleague pay just $87.50 each — that’s less than the early bird price. Booyah! We’re here all week folks…and this deal ends on Sunday, November 29, at 11:59 p.m. PST.

23 Nov 2020

Uber refused permission to dismiss 11 staff at its EMEA HQ

Uber has been refused permission to dismiss 11 people at its EMEA headquarters in Amsterdam by the Dutch Employee Insurance Agency (UWV), the ride hailing company has confirmed.

The affected individuals did not take up an earlier severance offer as part of wider Uber layoffs earlier this year.

Uber announced major global layoffs of around 15% of its workforce in May — which included around 200 staff based in Amsterdam — blaming the cuts on changes to demand caused by the coronavirus pandemic.

Late last week, Dutch newspaper NRC reported that Uber had been refused permission to fire the staff as the UWV had found there were no grounds for dismissal.

Per its report, affected Uber employees had faced pressure to accept Uber’s severance offer — saying they were disconnected from its internal systems the day after being informed of termination via Zoom video call and were then sent daily reminders to accept dismissal with Uber telling them ‘their position was ceasing to exist’.

Dutch law requires employers to obtain approval from the UWV for planned redundancies. But the majority of the affected staff in this instance accepted its severance offer before the agency had made a decision. Local press reports suggest many of those affected were expats — who may have been unaware of their labor rights under Dutch law.

We reached out to Uber with questions — and a company spokesperson sent us this statement:

Earlier this year we made the difficult decision to reduce our global headcount due to the dramatic impact of the pandemic, and the unpredictable nature of any eventual recovery. The headcount reductions in our EMEA Headquarters in Amsterdam are part of those efforts.

Uber also told us it does not agree with the UWV’s decision to refuse permission for it to dismiss the 11 employees who had not accepted severance, adding that it will review the decision before determining how to proceed.

It said the severance packages offered to the ~200 affected employees included at least 2.5 months of salary, health benefits to the end of the year, outplacement/recruitment support and additional support for Uber-sponsored visa holders.

23 Nov 2020

Relativity Space raises $500 million as its sets sights on the industrialization of Mars

3D-printed rocket startup Relativity Space has closed $500 million in Series D funding (making official the earlier reported raise), the company announced today. This funding was led by Tiger Global Management, and included participation by a host of new investors including Fidelity Management & Research Company, Baillie Gifford, Iconiq Capital, General Catalist and more. This brings the company’s total raised so far to nearly $700 million, as the startup is poised to launch its first ever fully 3D-printed orbital rocket next year.

LA-based Relativity had a big 2020, completing work on a new 120,000 square-foot manufacturing facility in Long Beach. Its rocket construction technology, which is grounded in its development and use of the largest metal 3D printers in existence, suffered relatively few setbacks due to COVID-19-related shutdowns and work stoppages since it involves relatively few actual people on the factory floor managing the 3D printing process, which is handled in large part by autonomous robotic systems and software developed by the company.

Relativity also locked in a first official contract from the U.S. government this year, to launch a new experimental cryogenic fluid management system on behalf of client Lockheed Martin, as part of NASA’s suite of Tipping Point contracts to fund the development of new technologies for space exploration. It also put into service its third-generation Stargate 3D metal printers – the largest on Earth, as mentioned.

The company’s ambitions are big, so this new large funding round should provide it with fuel to grow even more aggressively in 2021. It’s got new planned initiatives underway, both terrestrial and space-related, but CEO and founder Tim Ellis specifically referred to Mars and sustainable operations on the red planet as one possible application of Relativity’s tech down the road.

In prior conversations, Ellis has alluded to the potential for Relativity’s printers when applied to other large-scale metal manufacturing – noting that the cost curve as it stands makes most sense for rocketry, but could apply to other industries easily as the technology matures. Whether on Mars or on Earth, large-scale 3D printing definitely has a promising future, and it looks like Relativity is well-positioned to take advantage.

We’ll be talking to Ellis at our forthcoming TC Sessions: Space event, so we’ll ask him more about this round and his company’s aspirations live there, too.

23 Nov 2020

The EPA says the Ford Mustang Mach-E’s electric range is a lackluster 211-300 miles

The EPA just released its findings on the Mustang Mach-E, and it’s a mixture of good news and bad news. Depending on the model, the EPA says the Mach-E is good for just 211 miles to 300 miles on a charge. On the one hand, the Mach-E matched Ford’s range target, with the EPA agreeing with Ford’s range. On the other hand, the range is well under that found in competing vehicles, which puts the Mach-E on its backfoot as it enters the competitive electric vehicle market. Ford dropped the price of the Mach-E in September.

The Mach-E will come in two powertrain variants: standard-range and extended-range, with both options available in a dual-motor, AWD setup. The extended-range option nets buyers an additional 60-70 miles of range, with this option delivering 270 miles for the AWD version and 300 for the RWD version. The standard range Mach-E comes in at 211 miles for AWD and 230 miles for RWD.

Those figures are nearly identical to what Ford targeted with the Mach-E, signaling the automaker’s improving engineering quality.

With a max range of 400 miles on a two-wheel-drive model, the Mach-E range falls well short of the Tesla Model 3 or Polestar 2, available in 400 mile-range variants for similar prices as the Mustang Mach-E.

The Mustang Mach-E is Ford’s first major electric vehicle. Customers will start taking delivery of pre-orders this December. The vehicle is launching in a space that’s increasingly becoming more competitive. Along with Tesla, the Mustang Mach-E must sell against the fantastic Polestar 2, Audi’s growing line of electric vehicles, and Kia/Hyundai’s affordable electric crossovers. Some have longer range, and others are less expensive than Ford’s first EV.

The Mustang Mach-E is just the start of Ford’s electric offering, and the automaker likely understood the range would fall short of the market leaders. The goal is seemingly to kick off Ford’s EV stable with an exciting, affordable vehicle, and the Mach-E seems to fit that role despite the short range.

23 Nov 2020

Mental health startups are raising spirits and venture capital

A spate of startups focused on mental health recently made enough noise as a group that they caught the eye of the Equity podcast crew. Sadly, the segment we’d planned to discuss this topic was swept away by a blizzard of IPO filings that piled up like fresh snow.

But in preparation, I reached out to CB Insights for new data on the mental health startup space that they were kind enough to supply. So this morning we’re going to dig into it.

Regular readers of The Exchange will recall that we last dug into overall wellness venture capital investment in August, noting that it was mental health startups inside the vertical that were seeing the most impressive results.


The Exchange explores startups, markets and money. Read it every morning on Extra Crunch, or get The Exchange newsletter every Saturday.


I wanted to know what had happened even more recently.

After all, Spring Health recently raised $76 million for its service that helps companies offer their workers mental health benefits, Mantra Health disclosed that it has raised $3.2 million to help with college-age mental health issues and Joon Care announced $3.5 million in new capital to “grow its remote therapy service for teens and young adults,” per GeekWire.

Sticking to theme, Headway just raised $32 million to build a platform that “helps people search for and engage therapists who accept insurance for payments,” according to our own reporting, and online therapy provider Talkspace is pursuing a sale — it looks like an active time in the mental health startup realm.

So, let’s shovel into the latest data and see if the signals that we are seeing really do reflect more total investment into mental health startups, or if we’re over-indexing off a few news items.

The state of mental health venture investing

To prepare the ground, let’s talk about the general state of healthcare investing in the venture capital world. Per CB Insights’ Q3 healthcare VC report, venture capital deal volume and venture capital dollar volume reached new record highs in the sector during Q3 2020.

The quarter’s 1,539 rounds and $21.8 billion in invested capital were each comfortably ahead of prior records set in Q2 2018 for round volume (1,431) and Q2 2020 for dollar volume ($18.4 billion) for healthcare startups.

23 Nov 2020

Video mentoring platform Superpeer raises $8M and launches paid channels

Superpeer, a startup that helps experts share and monetize their knowledge online, is announcing that it has raised $8 million in additional funding.

As I wrote in March, the Superpeer platform allows experts to promote, schedule and charge for one-on-one video calls with anyone who might want to ask for their advice.

In addition to announcing funding, the startup is also moving beyond one-on-one sessions by launching paid channels, where experts can charge a subscription fee for access to larger group sessions with video and chat. Co-founder and CEO Devrim Yasar suggested that channels allow Superpeer experts to be more accessible, hosting sessions that cost less money to watch and reach a larger audience.

“It can be hard to say, ‘Hi I’m Anthony Ha, if you want to talk to me,
my hourly rate is $500,'” Yasar said. (To be clear: I would never say that.) “But if you have a channel where anyone can subscribe for $1 or $5, that makes you feel better that you are accessible.”

Plus, you can still offer (and charge more for) one-on-one meetings, say for subscribers who still have “burning questions” after a channel session.

In the midst of the pandemic, we’re seeing a widespread embrace of online mentoring and content as new source of source. Last week, for example, Squarespace launched a new paywall feature called Member Areas, and I’ve also written about another video mentoring platform called Prox.

Yasar acknowledged that things are getting pretty competitive, but he said that Superpeer is trying to build the most attractive brand for public intellectuals and thought leaders — he described the vision (half-jokingly, half-proudly) as “OnlyFans for brains.”

“If you are an intellectual, if you have an audience, if you are a TED speaker with 30 million views on your video, you’ve never had a platform to really monetize that audience,” Yasar said. “All you could do is maybe write a book and sell that, you could be a guest at someone else’s event [but not much else]. Those people don’t want to go to YouTube or Instagram, that’s not the brand that they associate themselves with.”

Beyond branding, Yasar said that Superpeer has also worked hard on the technology side to create a lightweight video experience in the browser.

The new round comes from Acrew Capital, Audacious Ventures, Homebrew, Moxxie Ventures, Brianne Kimmel, Scott Belsky and OnDeck, and it brings Superpeer’s total funding to $10 million.

Yasar said the startup will be expanding its growth, partnership and revenue teams. It will also be offering financial support for experts through a brand ambassador program, though the company is still working out the details.

And if you’d like to see the platform in action, I’ll also be talking to Yasar and his investors at Eniac Ventures tomorrow in a free session at noon Eastern.

23 Nov 2020

Gatik’s self-driving box trucks to shuttle groceries for Loblaw in Canada

Gatik, the autonomous vehicle startup focused on the “middle mile,” is already using its self-driving box trucks to deliver customer online grocery orders for Walmart. Now, the company — freshly stocked with $25 million in Series A funding — is expanding up into Canada with a partnership with retail giant Loblaw.

Gatik said Monday that five autonomous box trucks in Toronto will be used to deliver goods for Loblaw starting in January 2021. The fleet will be used seven days a week on five routes along public roads. All vehicles will have a safety driver as a co-pilot. This deployment, which follows 10-month pilot in the Toronto area, marks the first autonomous delivery fleet in Canada.

“As more Canadians turn to online grocery shopping, we’ve looked at ways to make our supply chain more efficient. Middle-mile autonomous delivery is a great example,”Loblaw Digital senior vice president Lauren Steinberg said in a statement. “With this initial rollout in Toronto, we are able to move goods from our automated picking facility multiple times a day to keep pace with PC Express online grocery orders in stores around the city.”

Unlike other autonomous delivery companies, Gatik isn’t targeting consumers. Instead, the startup is using its autonomous trucks to shuttle groceries and other goods from large distribution centers to retail locations. For Loblaw, the company will equip Ford Transit 350 box trucks with refrigeration units, lift gates and its autonomous self-driving software.

“Retailers know the biggest inefficiencies in their logistics operations often exist in the middle-mile, typically between automated picking facilities and retail locations,” Gatik CEO and co-founder Gautam Narang said in a statement. “This is where Gatik lives and succeeds, and is the reason we’re able to offer immediate value to our customers. We are delighted to partner with Loblaw in addressing this critical piece of their supply chain.”

Gatik’s ‘middle mile’ B2B focus has attracted customers like Walmart as well as investors, including Wittington Ventures and Innovation Endeavors, which co-led the company’s Series A round. FM Capital and Intact Ventures along with existing investors lDynamo Ventures, Fontinalis Partners, AngelPad also participated in the round that was announced alongside the Loblaw partnership. Gatik has raised $29.5 million to date.

The company said it plans to use the funding to build out operations across North America and hire more employees at its Palo Alto, California and Toronto facilities. Narang said Gatik is also pushing to expand its retail partnerships and fleet deployments.

“Throughout the year we saw an increase of 30% to 35% in orders from our customer base, and we expect this trend to continue,” Narang said. “We will continue to bring autonomous delivery into the mainstream, driving substantial efficiencies in supply chain logistics for retailers across North America and beyond.”

Gatik said it has completed more than 30,000 revenue-generating autonomous orders for multiple customers across North America.