Category: UNCATEGORIZED

23 Apr 2019

Check out all the demos from TC Sessions: Robotics + AI

We’re incredibly proud of the programming we put together for this year’s TC Sessions: Robotics + AI. It’s my personal favorite TechCrunch event and I think this year’s way easily our best.

We had top names in the industry like Marc Raibert, Claire Delaunay, Colin Angle, Anthony Levondowski and Melonee Wise join us on stage. But a robotic event is nothing without actual robots, and this year’s demo lineup was every bit as stacked as our speaker list.

It was an exciting collection, from the latest version of Spot Mini to a mobility robot designed to help children with cerebral palsy walk.

Of course, we understand that not everyone was able to pack into Zellerbach Hall last Thursday. And even those who were will likely want a second look at the many robots we had on stage at the U.C. Berkeley event.

So here are the many impressive robots we had on stage.

Boston Dynamics SpotMini

Back by popular demand, Boston Dynamics’ SpotMini took to the stage to show off some impressive tricks. The version on our stage last week was the same as the production units the company is expected to sell later this year. CEO Marc Raibert also showcased some of Spot’s applications, from patrolling construction sites to open doors during hostage situations.

NVIDIA Kaya and Carter

NVIDIA VP of Engineering Claire Delaunay joined us on stage to discuss the chip maker’s work to create a universally accessible robotics platform. Delaunay showcased two robots — Kaya and Carter — which are built on top of the Isaac platform. The reference robots are designed to help unlock the full potential for the Isaac SDK, which was made public at the event.

Trexo Robotics

Cofounder Manmeet Maggu opened with a personal story that led to the creation of Trexo. The Toronto-based startup started as a side project, building personal mobility devices for children with movement disorders such as cerebral palsy.

Berkeley SkyDeck Squishy and Kiwi

Hailing from a few blocks from the event, the Berkeley SkyDeck accelerator took to the stage to showcase two of their most exciting robotics startups. Squishy creates rugged exploration robots designed to be dropped from aircrafts, so they can go where humans can’t. Kiwi, meanwhile, already has a bustling business delivering hot meals to Berkeley residents.

iRobot Terra

iRobot’s first major new line is some time is precisely what you’d want from the maker of the Roomba. But why did it take the successful robotics company 10 years to create a robotic lawnmower? CEO Colin Angle explains.

Breeze Automation

This San Francisco-based startup made its public debut on our stage last week, discussing the soft, fabric-based robots it’s creating for the U.S. Navy and NASA.

23 Apr 2019

eBay beats with revenues of $2.6B and EPS of $0.67 as restructuring takes shape

As eBay continues to work through a restructuring strategy, the e-commerce marketplace and online auction pioneer reported earnings for the first quarter of the year that should keep some of the more activist shareholders a little at bay. The company reported revenues of $2.6 billion and non-GAAP net income of $608 million, or diluted earnings per share of $0.67 ($0.57 EPS on a GAAP basis).

Both numbers, in fact, exceeded analysts’ estimates. On average, they had predicted eBay to report EPS of $0.63 per share (on a range of $0.58 to $0.64) on revenues of $2.58 billion (range of $2.55 billion to $2.63 billion).

“We delivered a solid first quarter with revenue and EPS,” said Devin Wenig, president and CEO of eBay Inc., in a statement. “Our initiatives to create a next generation payment and advertising experience are on track, we saw healthy buyer growth and disciplined cost control, and we continue to simplify the buying process while remaining focused on seller’s success.”

That doesn’t mean the company is really out of hot water, though: a year ago, eBay had $2.58 billion in sales, so today’s figures represent barely any growth in overall sales at the company, which has been struggling to compete against a plethora of brick-and-mortar companies that have seized the online opportunity, and of course its age-old competitor, Amazon. (Although eBay already hived off PayPal years ago, activist shareholders now argue that eBay should be restructured and broken up even further.)

Indeed, the guidance eBay is providing for the quarter and full year ahead speaks to those challenges. It expects in Q2 to post revenues of between $2.64 billion and $2.69 billion, growth of just two percent to four percent, with non-GAAP earnings per diluted share from continuing operations in the range of $0.61 – $0.63. Full-year revenues are projected by eBay to be between $10.83 billion and $10.93 billion, growth of between two and three percent.

The company has made a shift in its strategy in the last few months to focus back on its own inventory and leverage the tech it has in advertising to promote it better. A few weeks ago, we reported on how it was shutting down one of its advertising efforts, the eBay Commerce Network, in support of that strategy. It has also laid off several hundred people as it scales back some of those operations.

eBay said that in Q1, active buyers were up four percent across its platforms and now total 180 million global active buyers. (It has made a lot of moves to encourage more people to buy on the platform, such as adding new payment methods like Google Pay, and improving the process by which a buyer can report dissatisfaction with a purchase.)

Marketplace accounted for the bulk of revenues, at $2.2 billion of revenue and $21.6 billion of GMV. That GMV is actually down four percent on a year ago, even as marketplace revenues were up three percent.

StubHub accounted for $230 million of revenues, a flat figure on last year. Classifieds accounted for $256 million in sales. Advertising, meanwhile, will remain a big boat to turn around: this quarter it accounted for a mere $65 million of revenue, although that was up 110 percent year-over-year.

23 Apr 2019

Snapchat revives growth in Q1 beat with 190M users as share price spikes

Snapchat appears to have turned the corner after a year of flat or negative user growth thanks to a strong Q1 2019 earnings report. It reached 190 million daily active users, up from 186 million in Q4 2018 but still down from 191 million a year ago, in part thanks to its newly reengineered Android app. Snap saw $320 million in revenue and -$0.10 non-GAAP EPS, beating estimates of of $306 million and -$0.12 EPS.

One concern is Snapchat provided guidance of greater losses next quarter, ranging from $125 million to $150 million compared to this quarter’s $123 million. That’s because increased usage triggers higher Amazon AWS and Google Cloud bills for the company. This could delay Snapchat hitting profitibility, which Spiegel had set of goal of reaching by the end of 2019.

The strong beat on earnings led Snap’s share to climb about 10 percent in after hours trading to around $13.21 in after hours trading, after closing at $11.99 earlier today. That’s up from a low of $5.07 in December.

Snap managed to add users in all its markets, growing 1 million in North America, 1 million in Europe, and 2 million in the developing world where the Android app is critical. The 25 percent smaller, 20 percent faster Android app generated a 6 percent increase in Snaps sent from low-end Android devices in the first week after they upgraded.

One blemish on an otherwise powerful earnings report was that average revenue per use dropped below its Q3 2018 $0.85 level in Europe to $0.77. That may in part be due to usage increases spreading ad revenue thinner across users. But that’s a lucrative market where Snap will need to do better with advertisers.

23 Apr 2019

Snapchat fully rolls out reengineered Android app, boosting usage

After a year of its user count shrinking or staying flat, Snapchat is finally growing again, and more growth is likely on the way. That’s because it’s finally completed the rollout of Project Mushroom aka a backend overhaul of its Android app that’s 25 percent smaller and 20 percent faster. Designed for India and other emerging markets where iPhones are too expensive, Snapchat saw an immediate 6 percent increase in the number of people on low-end devices sending Snaps within the first week of upgrading to the new Android app.

Snapchat grew from 186 million daily active users in Q4 2018 to 190 million in Q1 2019, adding 1 million in North America, 1 million in Europe, and 2 million in the Rest Of World where the Android app makes the biggest difference despite rolling out near the end of the quarter. It’s been a long wait, as Snap first announced the Android reengineering project in November 2017.

“As of the end of Q1, our new Android application is available to everyone” Snap CEO Evan Spiegel wrote in his prepared remarks for today’s estimate-beating earnings report. “While these early results are promising, improvements in performance and new user retention will take time to compound and meaningfully impact our top-line metrics. There are billions of Android devices in the world that now have access to an improved Snapchat experience, and we look forward to being able to grow our Snapchat community in new markets.”

Spiegel told me in a pre-earnings briefing call that some of the growth stemmed from tweaks to Snapchat’s ruinous redesign including better personalized ranking of Stories and Discover content, as well as new premium video Shows. Now with the Android app humming, though, we might see significant growth in the Rest Of World region in Q2.

Unfortunately, since Snapchat uses bandwidth and storage-heavy video, more usage also means more Amazon AWS and Google Cloud expenditures, Spiegel tells me. That’s partly why Snapchat is predicting a slight increase in adjusted EBITDA losses from $123 million in Q1 to between $125 million and $150 million in Q2.

We first highlighted Snap’s neglect of the international teen Android market when Instagram Stories launched in August 2016. Spiegel and Snap were too focused on cool American teens, squandering this market that was Snapped up by Facebook’s Instagram and WhatsApp. Now Snapchat will have a much harder time winning emerging markets since they’re not the first to bring Stories there. But if it can double-down on ephemeral messaging, premium video, and its augmented reality platform that are leagues ahead of Facebook’s offerings, it could finally creep towards that 200 million DAU milestone.

23 Apr 2019

New Sesame Street-themed PSA encourages kids to reduce mobile device use

Device addiction plagues us all — even Apple CEO Tim Cook. But children with phones and tablets are even more susceptible to the lures of apps and games, which often use psychological tricks keep users logging in and regularly returning. A new PSA from Sesame Workshop and advocacy organization Common Sense aims to address kids’ unhealthy use of mobile devices by focusing on one particular problem: devices at the dinner table.

This is not the first time the #DeviceFreeDinner campaign has run — previous years’ spots featured Will Ferrell as a “distracted dad” on his phone at the table, ignoring his family’s conversations.

But this time around, the organization is teaming up with Sesame Workshop, which is lending its characters to a new PSA. The spot will feature the Sesame Street muppets modeling healthy mobile phone behavior by putting their devices away.

Phones are shut up in drawers, tablets placed on shelves, other devices are put in handbags — and, you know, thrown into garbage cans and stashed in pumpkins, as the case may be.

The muppets then gather around a table and happily chatter until they notice Cookie Monster is still on his phone, texting. (Don’t worry, their disapproval sees him eating the device in the end.)

The idea, explains kids advocacy organization Common Sense, is to raise awareness around media balance and encourage families to make the most of their time together.

It comes at a time when now one-third of kids ages 0 to 8 “frequently” use mobile devices, the nonprofit explains. But taking a break from devices is shown to have positive benefits, ranging from better nutrition and focus at home to fewer problems at school, Common Sense says.

Plus, it notes, simply putting the phone down is not enough — it shouldn’t be at the table at all, as research has shown that even the presence of a phone on the table can hurt the quality of conversations.

While Common Sense puts out a lot of material for children and families like this, Sesame Workshop’s involvement on the new PSA is particularly interesting given the company’s recent connection with Apple.

A new Sesame Workshop-produced show set to air on Apple’s soon-to-launch streaming service will teach kids coding basics — an agenda Apple regularly pushes to get its programming language, Swift, into the hands of the next generation of coders. 

In the show, the same Sesame Street characters who today are telling kids to put down their phones will instead tout the joys of coding to the preschool set.

The juxtaposition of a programming-focused Apple kids’ show and the new PSA are a perfect example of how complicated the issues around kids on devices have become. On the one hand, parents want to encourage their children to pursue STEM subjects — which often requires kids to regularly use computers and other devices to practice new skills, like coding with MIT’s Scratch or building for Minecraft. But on the other hand, parents see that when kids are given devices, addiction soon follows.

The real question for parents may be, instead, whether kids should have devices at all — or whether they should take their cues from tech billionaires and Silicon Valley parents who are ripping devices from their own children’s’ hands like they’re the modern-day equivalent of sugary breakfast cereal.

Perhaps Sesame Workshop should have chosen a side on this issue, rather than teaming with the billion-dollar company that’s now trying to distance itself from fault with regard to the device addiction problem at the same time it runs PSAs about kids’ device addiction.

Or maybe it’s just as confused at the rest of us are over where to draw the line.

The new Sesame Street-themed PSAs will be distributed starting today across networks and platforms including NBC, Fox, Xfinity, Comcast, Charter, Cox, National Geographic, NCM, PBS, Univision, Telemundo, HITN, and Xfinity Latino.

23 Apr 2019

The master list of PR DON’Ts (or how not to piss off the writer covering your startup)

When it comes to working with journalists, so many people are, frankly, idiots. I have seen reporters yank stories because founders are assholes, play unfairly, or have PR firms that use ridiculous pressure tactics when they have already committed to a story.

There is so much bad behavior that I thought that it might be time to write up a list of “DON’Ts” on how not to work with journalists.

I compiled this list by polling TechCrunch’s entire writing staff for their pet peeves when it comes to working with PR folks and founders around startup pitches. The result was this list of 16 obnoxious annoyances.

The interesting thread that connects all of them is that these DON’Ts are almost universal across the staff — few of these annoyances seemed to be merely personal preference. Avoiding these behaviors won’t guarantee coverage of your startup, but they certainly will help you avoid killing your news story before it even gets considered for publication.

DON’T change the capitalization of your startup multiple times

SEO is important, and so there are rules about how to capitalize things to maximize your exposure on Google and DDG. That’s important to get right, but for the love of god, figure out what the hell you want your startup’s name to be before you reach out to the press.

23 Apr 2019

How to pitch to a (tech) journalist

Startup growth comes from many places, but one option is through “earned media” — stories and mentions in the press. Earned media is great, because the channel is nominally free, and it can often get many more of the right eyeballs than advertising. Minus some sleazy behavior in the journalism world, you should never have to pay a dime to get a story into print other than the work it takes to manage PR (and yes, of course, that can be very expensive, although it doesn’t have to be).

For these reasons, startups pitch writers a lot on stories about everything from their latest fundraise to new features in their apps. Yet despite that frequency, some founders (and PR folks) are extraordinarily good at pitching and find great success, while others seem to never get the attention of even the most workaholic writers.

The job of writers is to write stories, but writing your story is not their job.

Therefore, learning how to pitch a journalist, how to build a relationship with writers covering your startup, and how not to mess up a story already in production is a critical skill for anyone looking to grow their business.

This guide is designed to help bridge the gap by covering relationship building, how to determine newsworthiness, and the logistics of exclusives and embargoes. In addition, we’ve published a companion piece lists and analyzes 16 DON’Ts that can suddenly find your committed story in the trash can.

Building relationships should always take precedent

The single greatest secret of building any venture, actually, the greatest secret of life is that relationships are everything. We live in a free world, and no one is obligated to do anything for anyone. Venture capitalists aren’t obligated to write a check, partners aren’t obligated to sign a deal, and customers never have to buy your product.

23 Apr 2019

Squarespace makes its first acquisition with Acuity Scheduling

Squarespace is announcing its first acquisition today, a 13-year-old company called Acuity that allows businesses to manage their online appointments.

Squarespace CEO Anthony Casalena noted that the company has been expanding beyond website building already — he said he now wants to provide tools around online presence (i.e., building a website), commerce and marketing.

To do that, Squarespace has been building its own products, but in this case, Casalena said it made more sense to just bring Acuity on-board, particularly since the there already an integration between Acuity’s scheduling software and Squarespace’s page-building tools.

“What [CEO Gavin Zuchlinski] had built at Acuity is a great business,” he said. “It’s been growing pretty organically up until this point, with 45 employees who really understand the space and a very customer-centric culture. They have a great product. That would just be faster for us [to acquire them], versus building our own product.”

Acuity Scheduling logo

The plan is to build more integrations over time, while also continuing to support Acuity as a standalone product. The entire Acuity team is joining Squarespace, with Zuchlinski become vice president of Acuity within the larger company.

Asked whether this means we can expect Squarespace to make more acquisitions in the future, Casalena said, “I think we just are able to look at things that are going to be a little more meaningful right now … Our size kind opened our perspective to what’s possible.”

This also comes as the email marketing product that Squarespace launched last year is coming out of beta with new features like campaign scheduling and improved analytics.

23 Apr 2019

Group Nine hires Brian Lee to lead its commerce business

Group Nine Media has hired Brian Lee to as its first executive vice president of commerce.

Lee held a similar role at Maker Studios before its acquisition by Disney, and he also founded the New York-based accelerator SKIG. Group Nine — which was created by the merger of Thrillist, NowThis Media, The Dodo and Discovery-owned Seeker — says Lee’s job will include licensing, merchandising, affiliate advertising and direct-to-consumer products.

“Group Nine has some of the most loved and impactful brands, coupled with the ability to leverage a host of deeply powerful insights,” said Lee said in a statement. “I believe we are uniquely positioned to make huge strides in this space and can’t wait to get started.”

When I met with Group Nine CEO Ben Lerer earlier this year, he laid out his vision for the company moving forward.

“We’re successfully building brands — not to be distributed over a paid TV pipe, not to sit back and watch on your TV passively,” Lerer said. “Instead, we’re building brands for the kind of content consumption that someone who’s grown up with a smartphone in their pocket patronizes. What we’re doing is shows and characters and telling stories that are meant to be delivered via Facebook, via YouTube, via Snapchat, via Twitter.”

That kind of strategy, where a publisher relies on third-party platforms to reach their audience, has been disastrous for other digital media companies, but Lerer sounded pretty confident, particularly as the company gets smarter about which shows to invest in: “We’re making less and less content that is disposable every month than we did the month before.”

That approach seems to tie into Group Nine’s commerce strategy. In today’s announcement, Lerer said, “We have some of the most engaging brands on mobile, built around deeply dedicated communities of loyal fans so it’s imperative that we make the most of the opportunities that presents.”

Citing Nielsen, Group Nine says its content reaches nearly 45 million Americans every day. Business Insider also reported recently that the company is in talks to merge with women’s lifestyle media company Refinery29.

23 Apr 2019

Luxury consignment e-tailer The RealReal to enter the unicorn club with new funding

The RealReal, an online retailer for authenticated luxury consignment, has authorized the sale of up to $70 million in new shares, per a Delaware stock authorization filing discovered by the Prime Unicorn Index. If the company raises the entire amount, it would reach a valuation of $1.06 billion, cementing its status as the newest e-commerce unicorn.

The filing doesn’t guarantee The RealReal will sell the full amount of authorized shares. The company declined to comment on its fundraising plans.

The RealReal is led by founder and chief executive officer Julie Wainwright (pictured), the former CEO of Pets.com, a company now synonymous with the dot-com bust. It has raised quite a bit of capital to date — a total of $288 million from venture capital and private equity backers, including Great Hill Partners, Sandbridge Capital, PWP Growth Equity, Industry Ventures, Greycroft Partners and Canaan Partners. Most recently, The RealReal closed a Series G financing of $115 million in July 2018 that valued the business at $745 million, per PitchBook.

The RealReal has recently expanded its brick-and-mortar footprint and added additional e-commerce fulfillment centers as demand increased for its supply of second-hand luxury items. Founded in 2011, the company operates eight luxury consignment offices, where customers can receive free valuations of their luxury items. The RealReal is headquartered in San Francisco.

In a conversation with TechCrunch in 2017, Wainwright confirmed the company’s intent to go public at some point. With this upcoming round, The RealReal would be well placed for a 2020 initial public offering.

“That’s the goal,” Wainwright said during the interview. “We really aren’t in the mood to sell the business, we’re in the mood to go public at some point in the future.”

The RealReal competes with fellow second-hand e-tailers ThredUp and Poshmark . The latter is gearing up for a fall IPO, according to The Wall Street Journal. The online marketplace has tapped Morgan Stanley and Goldman Sachs to lead its offering after closing in on $150 million in revenue in 2018. ThredUp, another major player in the fashion retail market, hasn’t raised capital since 2015, but did begin opening physical stores in 2017 as part of its greater effort to compete with fellow venture-backed second-hand e-tailers.

The RealReal would also be the latest in a series of high-profile female-founded companies to gain unicorn status. Glossier tripled its valuation to $1.2 billion with a $100 million round earlier this year, followed by Rent the Runway, which attracted a $125 million investment at a $1 billion valuation, to name a few.