Category: UNCATEGORIZED

10 Oct 2019

Nexkey raises $6M Series A round to make your company’s doors smarter

Nexkey, a company that provides a mobile access control solution for commercial buildings and workspaces, today announced that it has raised a $6 million Series A round led by Upfront Ventures. K9 Ventures, Mark IV Capital and Anand Chandrasekaran, the former Head of Platform for Messenger at Facebook, also participated in the round. Upfront also led Nexkey’s $4.8 million seed round.

The company can turn your smartphone into your door key and replaces the badge you probably use at work to get in and out of buildings. Nexkey offers an end-to-end solution that includes the app, as well as hardware controllers and lock cylinders for your doors that can replace  There is also an API to allow its solutions to connect to other applications and devices inside a workspace.

Nexkey Send Keys

In many ways, Nexkey is similar to Openpath, which raised $7 million in a seed round that was also led by Upfront Ventures.

“We launched our platform into the market a little over 9 months ago and brought over 8,500 active users on the platform the first 6 months after launch,” Nexkey CEO Eric Trabold told me. “We wanted to continue this great momentum and therefore felt that the time is right to raise more capital to enable us to do so.”

Trabold says the company will use the new funding to expand its overall sales efforts from its current focus on California to the rest of the United States. He noted that the company wanted to better understand its users’ needs before expanding to other geographies.

The company also realized that it sat on a lot of data that was valuable to its customers. “We currently expose this via an audit trail right in our App and are going to build out other, more visual ways to expose this data to our customers,” Trabold said. “We’re going to have advanced reports that can be accessed or downloaded through our Web Portal. Those will help our customers to optimize how they operate their spaces, which means that they can now properly staff during peak times, analyze overall space utilization or look for anomalies that can trigger security events.”

The new funding, the company says, will also allow it to apply more resources to help it provide more value to its users based on this data.

Among the other things it learned from its early customers is that many of its users don’t always want to have their doors locked at all times and instead often want to keep them open for anybody during business hours. The company’s users that run co-working spaces and gyms also asked the company for an easier onboarding process and the ability to apply access rules to different user types, something it is currently beta testing in its iOS app.

Nexkey Smarter Access 2

10 Oct 2019

Getting more people to open your emails

We’ve aggregated the world’s best growth marketers into one community. Twice a month, we ask them to share their most effective growth tactics, and we compile them into this Growth Report.

This is how you’re going stay up-to-date on growth marketing tactics — with advice you can’t get elsewhere.

Our community consists of 600 startup founders paired with VP’s of growth from later-stage companies. We have 300 YC founders plus senior marketers from companies including Medium, Docker, Invision, Intuit, Pinterest, Discord, Webflow, Lambda School, Perfect Keto, Typeform, Modern Fertility, Segment, Udemy, Puma, Cameo, and Ritual.

You can participate in our community by joining Demand Curve’s marketing webinars, Slack group, or marketing training program. See past growth reports here, here, here and here.

Without further ado, onto the advice.


Improving engagement for drip emails

Based on insights from Matt Sornson of Clearbit. Lightly edited with permission.

Personalizing your marketing emails increases conversion. But doing so at scale takes a lot of effort. Here’s how to get around that:

  • Run lead generation ads to your blog posts and to other long-form content on your site. Then tag users based on the posts they’ve read. Plus, prompt them to fill out useful quizzes. Store their quiz answers.
  • Push their engagement data into an automated emailing platform like Customer.io. And enrich their contact details with Clearbit to discover their job title and the industry they work in.
  • Now you can send automated yet personalized drip emails based on a person’s role, company, and interests. This results in higher conversion rates. Show recipients you know who they are and what they care about, and you’ll seem a whole lot less like spam.

Improving cold email response rates

10 Oct 2019

Get ready to see more looping videos on Spotify, as Canvas launches into beta

Spotify is opening up its Canvas feature to more artists, the company announced this morning, which means you’ll see a lot more of those looping videos on the app starting soon. The feature has been in limited testing before today with select artists. When available, you don’t just see the album artwork behind the player controls — you see a moving, visual experience that plays in a short loop.

So far, Canvas has had mixed reviewers from Spotify users. Some find the looping imagery distracting while others simply prefer seeing the album art. Some people seem to like the feature. But others only like it with certain content and artists.

The challenge is in designing a video loop that works well. That means it shouldn’t be an attempt to try to lip sync to a part of a song. It shouldn’t include intense flashing graphics or text, nor should it distract people from being able to see the player controls and track information.

Screen Shot 2019 10 10 at 12.07.54 PM

Spotify also suggests trying to tell a full story in the loop rather than just drastically trimming a music video down to the time allotted (3- or 8-second clips). Other recommended Canvas experiences are those that help develop the artists’ persona across their profile and tracks, or those that are updated frequently. Billie Eilish, for example, uses the feature to share animated versions of fan art.

Since launching, Canvas has been seen by millions of users, Spotify says. But the company seems to acknowledge the impact varies, based on how the Canvas is designed. When it works, it can “significantly increase” track streams, shares, and artists page visits. But Spotify didn’t say what happens when the feature fails to engage fans.

However, based on social media discussions about the feature and how-to guides detailing how to turn the thing off, it would seem that some users choose to opt out of the experience entirely.

Today, Spotify says Canvas will no longer be limited to select artists, as it’s opening more broadly to artists in an expanded beta. With the beta, Spotify hopes artists will treat Canvas as a critical part of their release strategy, and will continue to use it across their catalog.

“It’s a way to get noticed and build a vision — and an excellent way to share more of who you are with your listeners, hopefully turning them into fans,” the company writes in an announcement. “The goal is for you to have richer ways to express yourself and to allow listeners to engage with you and your music even more deeply. We’re continuing to work on additional features, as well as more tools and metrics to help you better understand how your art is reaching your audience,” the company says.

It’s hard not to comment on the timing of this launch. At the end of September, Google announced that YouTube Music would not be preinstalled on new Android devices, taking the place of Google Play Music. With YouTube Music, streamers gain access to a visually immersive experience where they can watch the music videos, not just listen to the audio, if they prefer.

Spotify, however, has traditionally been a place to listen — not to watch. That’s not to say there aren’t music videos on Spotify, they’re just not well highlighted by the app nor a core part of the Spotify experience.

The company says it’s now sending artists their invites to join the beta. Those who haven’t received the invite can instead make a request to be added here.

 

10 Oct 2019

Google takes AMP to the OpenJS Foundation

AMP, Google’s somewhat controversial project for speeding up the mobile web, has always been open-source, but it also always felt like a Google project first. Today, however, Google announced that the AMP framework will join the OpenJS Foundation, the Linux Foundation-based group that launched last year after the merger of the Node.js and JS foundations. The OpenJS Foundation is currently the home of projects like jQuery, class="crunchbase-link" href="https://crunchbase.com/organization/node" target="_blank" data-type="organization" data-entity="node">Node .js and webpack, and AMP will join the Foundation’s incubation program.

Large companies like Google tend to donate open-source projects to foundations once they become stable — and that’s definitely the case with the four-year-old AMP project, which developers have now used to create billions of pages on more than 30 million domains, according to Google. Late last year, Google introduced a Technical Steering Committee to help oversee the development of AMP and it was this committee that also agreed to bring the project to the OpenJS Foundation.

“Now in our fourth year, AMP is excited for the next step on our journey,” said Malte Ubl, Member of the AMP Project Technical Steering Committee, in today’s announcement. “We’ve been considering the best home for AMP for some time. We decided on the OpenJS Foundation because we feel it’s the best place for us to help us to cater to our diverse group of constituencies. This step builds on previous moves we’ve made toward open governance and helps us focus on transparency and openness.”

Google also notes that the OpenJS Foundation’s goal of promoting JavaScript and related technologies is a good fit for AMP’s mission of providing “a user-first format for web content.” The company also notes that the Foundation allows projects to maintain their identities and technical focus and stresses that AMP’s governance model was already influenced by the JS Foundation and Node.js Foundation.

Google is currently a top-level platinum member of the OpenJS Foundation and will continue to support the project and employ a number of engineers that will work on AMP full-time.

10 Oct 2019

Coinbase is launching Coinbase Pro mobile app

Cryptocurrency exchange company Coinbase is launching a mobile app for its advanced users today. You can now download the Coinbase Pro mobile app on iOS — the Android version is coming soon.

Coinbase Pro is the company’s exchange that lets you set up advanced order types, such as limit orders. Those are fairly standard features for a cryptocurrency exchange. But Coinbase set up a separate “pro” platform so that the main Coinbase.com exchange remains as simple and straightforward as possible.

And now, you can also use Coinbase Pro on your phone. I’ve been playing around with the app, and it features everything you’d expect. On the first tab, you can see a list of trading pairs.

Coinbase Pro

If you tap on a pair, you can see real-time candles, the order book, your active orders as well as trade history for this specific pair. You can also set up an order to buy and sell cryptocurrencies from each trading pair page.

On the second tab, you can see your portfolio of crypto assets and its value in fiat currencies. You can deposit or withdraw cryptocurrencies from the mobile app. Unfortunately, if you want to deposit or withdraw fiat currencies (USD, EUR, GBP, etc.), the app tells you to head over to the website.

Finally, you can see your past and active orders, check your fees and limits.

Coinbase increased some of its trading fees on Coinbase Pro for low-volume accounts just last week. It is now more expensive to trade on Coinbase Pro if you trade less than the equivalent of $50,000 over 30 days. And if you trade less than $10,000 over 30 days, it now costs 0.50% in maker and taker fees.

Kraken charges 0.26% in taker fees if you trade less $50,000 in the past 30 days. Binance charges 0.1% in trading fees. With those new trading fees, it feels like Coinbase is indeed targeting pro users with Coinbase Pro.

Disclosure: I own small amounts of various cryptocurrencies.

10 Oct 2019

Russia’s Yandex introduces an Echo Dot-style smart speaker

In May of last year, Yandex launched the Yandex.Station. The $160 smart speaker was a clear logical step for the so-called “Google of Russia.” This week, the company is back with the next-next logical step. The Yandex.Station Mini is essentially its take on the Echo Dot/Google Home Mini.

At 3,990 rubles (around $61), it’s clearly aimed at getting more users on board with its smart assistant. Though Alice has already seen solid growth, with 45 million actively monthly users, per Yandex’s numbers. Still, these low-end smart speakers have been best sellers for both Amazon and Google, both as first-time devices and ways of getting the product in more rooms.

You’ve got your standard functionality on board here, including smart home control, music playback and the like. Along with voice, there’s also gesture control, including the ability to adjust volume with the wave of a hand above the device, which appears to point to some sort of proximity sensor.

The product will be available in Russia at the end of the month.

10 Oct 2019

Holoride makes its in-car VR available to the public for the first time

Audi spin-out Holoride is launching to the general public for the first time, though a collaboration with Ford and Universal Pictures . The young company is focused on a unique twist on virtual reality: In-car VR, to be experienced by a passenger while a vehicle is in motion.

VR in cars might sound like a bit of a conflicted or risky proposition, but it actually makes a lot of sense once you understand more about Holoride’s approach. TechCrunch took it for a spin at CES this year, and found that the technology’s ability to match a car’s movements to virtual immersive environment made for a surprisingly impressive experience.

The company has previously shown off underwater adventures, as well last a Marvel Avengers-themed story, but the one it’s launching for the public is a ‘Bride of Frankenstein’ ride which will be on offer for free between October 14 and November 9 at Universal CityWalk in Hollywood. Per the news release describing the adventure, there are virtual monsters and obstacles to overcome, and all of it is mapped to the ride you take inside a new 2020 model year Ford Explorer SUV.

HOLO0824

Entertainment technology startup, holoride teams up with Ford and Universal Pictures to create “Universal Monsters Presents Bride of Frankenstein holoride” – a highly immersive VR experience available complimentary to the public at Universal CityWalk Hollywood

The narrative is created by Universal Monsters, the sub-brand of Universal focused on its stable of cinematic ghouls, and Holoride takes in driving data, including speed of the vehicle and steering info to match the VR experience to the actual trip the rider is on.

The Ford partnership is one of the reasons Audi spun out this particularly venture, since it stated when it announced the move that it was hoping to get Holoride in the backseat of vehicles from all automakers.

This first public service offering should provide crucial insight for the Holoride team regarding its eventual commercialization and deployment plans for the technology. VR in cars still seems like a niche use case, but it’s possible it’s the niche that helps VR find some kind of footing among more general population users who aren’t likely to own their own headset at home.

10 Oct 2019

Cisco hit by an internal network outage

Not a great start to the day for Cisco employees, many of which are struggling in the face of an internal IT outage.

The technology and networking giant confirmed in a tweet it was “aware of some disruption” to its IT systems and is “working” on restoring the network.

Worse, the company’s corporate blog also went kaput. For a period, Cisco’s blog was displaying the default WordPress install page. But at the time of publication, the blog had been restored.

Some customers were unable to login through Cisco’s single sign-on. Others couldn’t access the company’s downloads page, nor could they access the company’s learning portal. And, some were unable to access its security advisories. But some of Cisco’s services, such as Webex, did not appear affected by the outage.

It’s not immediately clear exactly what caused the outage. Cisco spokespeople did not immediately respond to a request for comment.

10 Oct 2019

Tiger Global values people management tool Lattice at ~$200M

The secretive New York-based hedge fund Tiger Global Management has led a $25 million Series C investment in Lattice, an employee performance and engagement management tool, with participation from the startup’s existing investors.

The round, which values Lattice in the ballpark of $200 million, says co-founder and chief executive officer Jack Altman, comes just six months after the business closed a $15 million Series B led by Shasta Ventures. The HR tool, founded in 2015 by Altman and Eric Koslow, is also backed by Thrive Capital, the Slack Fund, Khosla Ventures and Y Combinator.

Lattice, like many startups closing venture capital deals today, was not actively fundraising when approached by John Curtius of Tiger Global, a firm that invested in the likes of Spotify, Glassdoor and Flipkart. Rather than reject the sizable capital infusion that, according to Altman, included favorable terms, Lattice closed the deal and plans to invest additional cash in its sales and marketing efforts, among other opportunities.

“Tiger was excited by the vision to keep [expanding] this platform — to extend to the rest of people management,” Altman tells TechCrunch.

Lattice, which has raised a total of $49.2 million in venture capital funding to date, doubled its headcount this year as well as its paying user count, which has swelled to 160,000. The SaaS business has developed performance management software that allows employees to reflect on their performance and receive feedback from managers and peers. The tool also empowers employees and their managers to structure agendas for one-on-one sessions, send praise to other employees and draft goals and OKRs.

“In order to compete for talent today, you do need to build the type of company where people want to work — it’s not just a money thing,” said Altman.

Last fall, the San Francisco-based startup introduced Lattice Engagement, giving human resources teams a better idea of employees’ level of connection to their company. Last month, the company launched Lattice Pulse, which, in combination with Lattice Engagement and Lattice Performance, delivers real-time insight into employees and company culture.

“You can get away with not doing these things, but it doesn’t optimize this critical thing, which is how your people are,” explains Altman. “If you don’t pay attention to how your people are performing or how they are feeling, it would be like not listening to your customers. Your employees are like your internal customers. If you don’t care how they’re doing or how they’re feeling, you’re leaving unbelievably important information on the table.”

Lattice operates a SaaS business model, charging roughly $100 per user per year. The company sells primarily to small and medium-sized businesses, including Glossier and Asana and some 1,400 others. This year, Lattice struck a deal with Slack, one of its largest customers yet. Over time, the company plans to sell to larger enterprises.

“My hope is we can just keep on adding products and functionality to what we offer,” Altman said. “We have so many more ideas than we have people to build them.”

10 Oct 2019

App revenue climbs 23% year-over-year to $21.9B in Q3

Global app revenue continues to climb, thanks to the growth in mobile gaming and the subscription economy. In the third quarter of 2019, consumer revenue grew 22.9% year-over-year from $17.9 billion to reach an estimated $21.9 billion across both the App Store and Google Play worldwide, according to new data from Sensor Tower.

Notably, the App Store continues to account for the large majority of this revenue, the report found, making up 65% of total spending compared with just 35% on Google Play.

App Store users spent $14.2 billion, up 22.3% from the $11.6 billion they spent in Q3 2018. Google Play generated $7.7 billion in revenue, up 24% from the $6.2 billion spent in the year-ago quarter.

q3 2019 app revenue worldwide

Sensor Tower’s revenue estimates are a bit lower than those provided by App Annie’s recent report, which said the quarter saw $23 billion in consumer spending, not ~$22 billion.

App Annie also estimated nearly 23 billion downloads in Q3, while Sensor Tower claimed 29.6 billion.

In both cases, Google Play is still said to be the main source for downloads, with nearly three times more first-time installs than the App Store. In Q3, the total number of downloads was up 9.7% year-over-year to 29.6 billion, said Sensor Tower, with Google Play accounting for 21.6 billion of those.

Despite the overall growth, one big app market — China — saw a slight decline, Sensor Tower found. Its installs dropped 6% year-over-year to 2.2 billion in the quarter. But its revenue grew by 26.9% to $4.1 billion, up from $3.2 billion the year prior. This could be attributed to the nine-month game license freeze in China which, though now lifted, had slowed momentum.

Sensor Tower’s charts don’t include third-party app stores, so it’s not a full picture of the Chinese app market, it’s worth noting.

q3 2019 top apps worldwide

The top money-making (non-game) app in the quarter was again Tinder, which generated $233 million in consumer spending, up 7% over the prior quarter. Netflix was No. 2 and YouTube clocked in at No. 3, at $164 million in Q3.

App Annie has a slightly different ranking. It has Tinder and Netflix leading the top-grossing charts, but puts IQIYI ahead of YouTube. This could be because App Annie has a bigger window into the Chinese app market.

In terms of downloads, TikTok is continuing to disrupt Facebook-owned apps’ dominance over the top of the charts. In Sensor Tower’s rankings, WhatsApp was No. 1 and Messenger was No. 3, but Facebook and Instagram dropped to No. 4 and No. 5, respectively. And TikTok reached No. 2.

q3 2019 app downloads worldwide

This isn’t the first time TikTok has passed Facebook, Sensor Tower said — it did so back in Q4 2018 and in Q1 2019, before dropping to No. 4 again last quarter. But with 177 million downloads in Q3, it’s inching its way up to the top.

App Annie, on the other hand, sees TikTok having just a bit more of climb, sticking it at No. 3 in the quarter, behind Messenger and Facebook. It also called out some Q3 break-out hits, like the return of FaceApp’s popularity (No. 9 in downloads) and the growing subscription revenue of Google One (No. 7 in non-game revenue). Sensor Tower put FaceApp at No. 6 instead, but agreed on Google One.

Mobile gaming continues to generate most of the cash, and did so again in Q3 with $16.3 billion in mobile game gross revenue — or 74% of the total in-app spending, the new report said. The App Store accounted for $9.8 billion of that figure, with Google Play users spending $6.5 billion.

Game downloads across both Google Play and the App Store increased by 17.6% in Q3 from 9.5 billion last year to 11.1 billion.

q3 2019 game revenue worldwide

The top three games in the quarter by downloads were Fun Race 3D (123M downloads), PUBG Mobile (94M), and newcomer Mario Kart Tour, which hit 86 million downloads despite only launching in late September.

q3 2019 top games worldwide

PUBG Mobile was the top-grossing game with $496 million in revenue, up 652% over last year. The No. 2 title, Tencent’s Honor of Kings, and No. 3 Aniplex’s Fate/Grand Order generated $377 million and $354 million, respectively.

q3 2019 game downloads worldwide

Image credits: Sensor Tower