Monthly Archives: October 2020

News: Dear Sophie: What visa options exist for a grad co-founding a startup?

What are the visa prospects for a graduate completing an advanced degree at a university in the United States who wants to co-found a startup after graduation? Can the new startup or my co-founders sponsor me for a visa?

Sophie Alcorn
Contributor

Sophie Alcorn is the founder of Alcorn Immigration Law in Silicon Valley and 2019 Global Law Experts Awards’ “Law Firm of the Year in California for Entrepreneur Immigration Services.” She connects people with the businesses and opportunities that expand their lives.

Here’s another edition of “Dear Sophie,” the advice column that answers immigration-related questions about working at technology companies.

“Your questions are vital to the spread of knowledge that allows people all over the world to rise above borders and pursue their dreams,” says Sophie Alcorn, a Silicon Valley immigration attorney. “Whether you’re in people ops, a founder or seeking a job in Silicon Valley, I would love to answer your questions in my next column.”

Extra Crunch members receive access to weekly “Dear Sophie” columns; use promo code ALCORN to purchase a one- or two-year subscription for 50% off.


Dear Sophie:

What are the visa prospects for a graduate completing an advanced degree at a university in the United States who wants to co-found a startup after graduation? Can the new startup or my co-founders sponsor me for a visa?

—Brilliant in Berkeley

Dear Brilliant,

Thank you for your questions and for your contributions. The U.S. economy greatly benefits from entrepreneurial individuals like you who create companies — and jobs — in the U.S.

Let me take your second question first: Yes, it is theoretically possible for your startup to sponsor you for a visa, and for one of your co-founders to be your supervisor. Many visas and employment green cards require a company to sponsor you and for you to demonstrate that a valid employer-employee relationship exists.

Given your situation, timing will be key, particularly since one of your best visa options is the H-1B Visa for Specialty Occupations. The number of H-1B visas issued each year is typically capped at 85,000-60,000 for individuals with a bachelor’s degree and 25,000 for individuals with a master’s or higher degree. Because of the cap on H-1B visas and because the demand for them far outstrips the supply, U.S. Citizenship and Immigration Services (USCIS) holds a lottery once a year in the spring to determine who can apply for this visa.

News: This serial founder is taking on Carta with cap table management software she says is better for founders

Yin Wu has cofounded several companies since graduating from Stanford in 2011, including a computer vision company called Double Labs that sold to Microsoft, where she stayed on for a couple of years as a software engineer. In fact, it was only after that sale she she says she “actually understood all of the nuances

Yin Wu has cofounded several companies since graduating from Stanford in 2011, including a computer vision company called Double Labs that sold to Microsoft, where she stayed on for a couple of years as a software engineer. In fact, it was only after that sale she she says she “actually understood all of the nuances with a company’s cap table.”

Her newest company, Pulley, a 14-month-old, Mountain View, Ca.-based maker of cap table management software aims to solve that same problem and has so far raised $10 million toward that end led by the payments company Stripe, with participation from Caffeinated Capital, General Catalyst, 8VC, and numerous angel investors.

Wu is going up against some pretty powerful competition. Carta was reportedly raising $200 million in fresh funding at a $3 billion valuation as of the spring (a round the company never official confirmed or announced). Last year, it raised $300 million. Morgan Stanley has meanwhile been beefing up its stock plan administration business, acquiring Solium Capital early last year and more newly purchasing Barclay’s stock plan business.

Of course, startups often manage to find a way to take down incumbents and a distraction for Carta, at least, in the form of a very public gender discrimination lawsuit by a former VP of marketing, could be the kind of opening that Pulley needs. We emailed with Yu yesterday to ask if that might be the case. She didn’t answer directly, but she did mention “values,” as long as shared some more details about what she sees as different about the two products.

TC: Why start this company? Has Carta’s press of late created an opening for a new upstart in the space?

YW: I left Microsoft in 2018 and started Pulley a year later. We skipped the seed and raised the A because of overwhelming demand from investors. Many wanted a better product for their portfolio companies. Many founders are increasingly thinking about choosing with companies, like Pulley, that better align with their values.

TC: How many people are working for Pulley and are any folks you pulled out of Carta?

YW: We’re a team of seven and have four people on the team who are former Y Combinator founders. We attract founders to the team because they’ve experienced firsthand the difficulties of managing a cap table and want to build a better tool for other founders. We have not pulled anyone out of Carta yet.

TC: Carta has raised a lot of funding and it has long tentacles. What can Pulley offer startups that Carta cannot?

YW: We offer startups a better product compared to our competitors. We make every interaction on Pulley easier and faster. 409A valuations take five days instead of weeks, and onboarding is the same day rather than months. By analogy, this is similar to the difference between Stripe and Braintree when Stripe initially launched. There were many different payment processes when Stripe launched. They were able to capture a large portion of the market by building a better product that resonated with developers.

One of the features that stands out on Pulley is our modeling feature [which helps founders model dilution in future rounds and helps employees understand the value of their equity as the company grows]. Founders switch from our competitors to Pulley to use our modeling tool [and it works] with pre-money SAFEs, post-money SAFEs, and factors in pro-ratas and discounts. To my knowledge, Pulley’s modeling tool is the most comprehensive product on the market.

TC: How does your pricing compare with Carta’s?

YW:  Pulley is free for early-stage companies regardless of how much they raise. We’re price competitive with Carta on our paid plans. Part of the reason we started Pulley is because we had frustrations with other cap table management tools. When using other services, we had to regularly ping our accountants or lawyers to make edits, run reports, or get data. Each time we involved the lawyers, it was an expensive legal fee. So there is easily a $2,000 hidden fee when using tools that aren’t self-serve for setting up and updating your cap table.

TC: Is there a business-to-business opportunity here, where maybe attorneys or accountants or wealth managers private label this service? Or are these industry professionals viewed as competitors?

YW: We think there are opportunities to white label the service for accountants and law firms. However, this is currently not our focus.

TC: How adaptable is the software? Can it deal with a complicated scenario, a corner case?

YW: We started Pulley one year ago and we’re launching today because we have invested in building an architecture that can support complex cap table scenarios as companies scale. There are two things that you have to get right with cap table systems, First, never lose the data and second, always make sure the numbers are correct. We haven’t lost data for any customer and we have a comprehensive system of tests that verifies the cap table numbers on Pulley remain accurate.

TC: At what stage does it make sense for a startup to work with Pulley, and do you have the tools to hang onto them and keep them from switching over to a competitor later?

YW: We work with companies past the Series A, like Fast and Clubhouse. Companies are not looking to change their cap table provider if Pulley has the tool to grow with them. We already have the features of our competitors, including electronic share issuance, ACH transfers for options, modeling tools for multiple rounds, and more. We think we can win more startups because Pulley is also easier to use and faster to onboard.

TC: Regarding your paid plans, how much is Pulley charging and for what? How many tiers of service are there?

YW; Pulley is free for early-stage startups with less than 25 stakeholders. We charge $10 per stakeholder per month when companies scale beyond that. A stakeholder is any employee or investor on the cap table. Most companies upgrade to our premium plan after a seed round when they need a 409A valuation.

Cap table management is an area where companies don’t want a free product. Pulley takes our customers data privacy and security very seriously. We charge a flat fee for companies so they rest assured that their data will never be sold or used without their permission.

TC: What’s Pulley’s relationship to venture firms?

YW: We’re currently focused on founders rather than investors. We work with accelerators like Y Combinator to help their portfolio companies manage their cap table, but don’t have a formal relationship with any VC firms.

News: Founders don’t need to be full-time to start raising venture capital

“More than 50% of our founders still are in their current jobs,” said John Vrionis, co-founder of seed-stage fund Unusual Ventures. The fund, which closed a $400 million investment vehicle in November 2019, has noticed that more and more startup employees are thinking about entrepreneurship as the pandemic has shown how much room there is

“More than 50% of our founders still are in their current jobs,” said John Vrionis, co-founder of seed-stage fund Unusual Ventures.

The fund, which closed a $400 million investment vehicle in November 2019, has noticed that more and more startup employees are thinking about entrepreneurship as the pandemic has shown how much room there is for new innovation. To gain a competitive advantage, Unusual is investing small checks into founders before they’re full-time.

Unusual, which cuts an average of eight checks per year into seed-stage companies, isn’t doling out millions to every employee who decides to leave Stripe. The firm is conservative with its spending and takes a more focused approach, often embedding a member from the firm into a portfolio company. It’s not meant to scale to dozens of portfolio companies a year, but instead requires a methodical approach.

One with a healthy pipeline of companies to choose from.

In an Extra Crunch Live chat, Vrionis and Sarah Leary, co-founder of Nextdoor and the firm’s newest partner, said lightweight investing matters in the early days of a company.

“There were a lot of teams that needed capital to start the journey, but frankly, it would have been over burdensome if they took on $2 or $3 million,” Leary said. “[New founders] want to be in a place where they have enough money to get going but not too much money that they get locked into a ladder in terms of expectations that they’re not ready to take advantage of.” The checks that Unusual cuts in pre-seed often range between $100,000 to half a million dollars.

Leary chalks up the boom to the disruption in consumer behavior, which opens up the opportunity for new companies to win.

News: Boston Dynamics’ Spot is getting an arm and self-charging dock next year

Boston Dynamics’ new CEO Rob Playter told TechCrunch that the company has now sold around 260 of its sophisticated Spot robot as of his appearance at Disrupt last month. While the company faced some questions about the commercial appeal of the $75,000 robot, it’s clear that a number of verticals are interested in finding ways

Boston Dynamics’ new CEO Rob Playter told TechCrunch that the company has now sold around 260 of its sophisticated Spot robot as of his appearance at Disrupt last month. While the company faced some questions about the commercial appeal of the $75,000 robot, it’s clear that a number of verticals are interested in finding ways to deploy the tech.

Among Spot’s many appeals is its positioning as a kind of platform for developers and third-parties who can build their own accessories for a range of different applications, from construction to telemedicine. But Boston Dynamics is also actively developing its own accessories to help diversify Spot’s applications.

The company recently announced that it would be offering an arm add-on capable of performing a wide variety of tasks, including opening doors and picking up objects. The addition is a no-brainer, given that the arm was featured in the first Spot/Spot Mini videos from years back. In fact, I was honestly a little disappointed when the accessory was left out of the initial launch of the company’s first commercial product.

Image Credits: Boston Dynamics

The arm is set to arrive at some point early next near. It has six degrees of freedom and is designed to move along with the robot. “Like the base robot,” the company writes, “there’s much more to the arm than just hardware. It will ship with an intuitive UI, and be equipped to operate through both telemanipulation and supervised autonomous behaviors via the tablet.”

The arm/gripper will also be accessible to developers via an API. Applications like opening doors, and grasping and dragging objects, will be automated and offered as beta features when the arm ships.

Image Credits: Boston Dynamics

Boston Dynamics is also announcing an Enterprise-focused version of the robot that features a self-charging dock. Like a big, sophisticated Roomba, Spot will be able to return unguided to the dock for a recharge. The setup is designed for environments like oil rigs and radiation danger zones where the robot can ideally operate without humans present.

That’s also set to arrive early next year. Pricing for the above is still TBD.

News: Rocket Lab’s Peter Beck is coming to TC Sessions: Space 2020

Over the last few years Rocket Lab has gone from its very first orbital launch to regular commercial missions, with the goal of being the most responsive launch provider on the planet. Founder and CEO Peter Beck will join us at our all virtual TC Sessions: Space event happening on December 16 & 17 in

Over the last few years Rocket Lab has gone from its very first orbital launch to regular commercial missions, with the goal of being the most responsive launch provider on the planet. Founder and CEO Peter Beck will join us at our all virtual TC Sessions: Space event happening on December 16 & 17 in December to talk about the new launch ecosystem and building a company to compete with industry giants.

Rocket Lab’s 15th mission, “In Focus,” is scheduled to take off this very afternoon, with 10 Earth observation satellites from Canon Electronics and Planet. It has already put satellites in orbit for NASA, the NRO, and numerous private companies. The company’s launch cadence has slowly increased, though the loss of a mission in July soured its plan to go from months to weeks between launches.

But Beck, who has led the company from its inception in 2006, saw this as just another challenge to take head-on, and within the month Rocket Lab had gotten to the bottom of the issue and was clear to fly again.

“If you’re going to own a rocket company and launch vehicles, you have to be prepared for this kind of thing,” he said at the time. And now Electron is even more reliable than it was before, he pointed out.

Now Rocket Lab is expanding into adjacent businesses as well with the secretive launch of its First Light satellite platform, demonstrating tech that it hoped to share with customers who don’t want to build a satellite from scratch. “It’s just really painful to go from an idea to getting something in orbit,” he said, and by making it easier to actually build a spacecraft, it both democratizes space and creates customers out of thin air.

At TC Sessions: Space, Beck will discuss all of this and more. You can get early-bird tickets right now, and save $100 before prices go up on November 13 — and you can even get a fifth person free if you bring a group of four from your company. Special discounts for current members of the government/military/nonprofit and student tickets are also available directly on the website. And if you are an early-stage space startup looking to get exposure to decision makers, you can even exhibit for the day for just $360.

Is your company interested in presenting your company at TC Sessions: Space 2020Click here to talk with us about available opportunities.

News: Prop 22 opponents say Yes on 22 should not be able to mail flyers as nonprofit

Opponents of California’s Proposition 22, the measure that seeks to continue classifying rideshare drivers and delivery workers as independent contractors, filed a complaint this morning with the United States Postal Service. The No on 22 campaign alleges the Yes side is not eligible for a nonprofit postal status and is asking USPS to revoke its

Opponents of California’s Proposition 22, the measure that seeks to continue classifying rideshare drivers and delivery workers as independent contractors, filed a complaint this morning with the United States Postal Service. The No on 22 campaign alleges the Yes side is not eligible for a nonprofit postal status and is asking USPS to revoke its permit.

It’s much cheaper to send campaign mailers as a nonprofit organization. For example, sending between 1 – 200.000 small mailers to every door normally costs $0.302 per piece. As a non-profit, that costs $0.226 per piece, according to USPS. To be clear, the Yes on 22 campaign confirmed it was formed as a nonprofit organization under IRS section 501(c)(4), which pertains to social welfare organizations. But the No on 22 side says USPS erred in approving the Yes on 22 campaign.

“The Yes on 22 nonprofit permit was unlawfully issued,” a lawyer for No on 22 wrote to USPS Postmaster General Louis DeJoy. “[…] This misuse of the nonprofit permit coming from a corporate backed $200 million campaign is unprecedented and should be remedied by the Postal Service immediately.”

According to USPS, any organization that wants to send mail as a non-profit must first be authorized by the postal service as being eligible. Those that are eligible for nonprofit privileges, according to USPS, include “some political committees” but not “certain political organizations.” The political committees that may qualify for nonprofit prices regardless of nonprofit status, according to USPS, are the national or state committees of a political party, and the Democratic or Republican congressional or senatorial campaign committees.

“Campaign committees participating in ballot measure advocacy routinely form themselves as non-profits under section 501(c)(4) of the Internal Revenue Code, as the No on 22 lawyers know well,” Yes on 22 campaign spokesperson Geoff Vetter told TechCrunch. “Furthermore, the IRS granted Yes on 22’s non-profit status. As a 501(c)(4) organization, Yes on 22 is eligible for the appropriate non-profit postage rates with the USPS, which we applied for and were granted by the U.S. Postmaster. Moreover, pursuant to USPS Customer Support Ruling 128 – the USPS has a long-term policy in place of allowing the ballot measure committee of a duly authorized nonprofit to mail under the non-profit’s authorization. The above is true for many ballot measure campaigns, and as stated, like all entities, our applications were reviewed and approved by both the IRS and the USPS.”

To date, the Yes on 22 campaign has contributed $185,096,892 to its cause. The Yes on 22 committee consists of companies like Uber, Lyft, Instacart and DoorDash, as well as drivers, small businesses, and public safety and community organizations. The bulk of its funding has come from Uber, Lyft and DoorDash. In comparison, No on 22 has contributed $12,166,063.

“It’s outrageous but not surprising that the app companies that are going to the mat to keep shortchanging workers would shamelessly rip off the postal service,” No on Prop 22 spokesperson Mike Roth said in a statement. “This is just more evidence of the kind of greed we are dealing with from these companies who are spending $186 million in their selfish quest to buy themselves a new law but refused to buy their workers PPE in a pandemic.”

TechCrunch has reached out to USPS and will update this story if we hear back.

News: Kite adds support for 11 new languages to its AI code completion tool

When Kite, the well-funded AI-driven code completion tool, launched in 2019, its technology looked very impressive, but it only supported Python at the time. Earlier this year, it also added JavaScript and today, it is launching support for 11 new languages at once. The new languages are Java, Kotlin, Scala, C/C++, Objective C, C#, Go,

When Kite, the well-funded AI-driven code completion tool, launched in 2019, its technology looked very impressive, but it only supported Python at the time. Earlier this year, it also added JavaScript and today, it is launching support for 11 new languages at once.

The new languages are Java, Kotlin, Scala, C/C++, Objective C, C#, Go, Typescript, HTML/CSS and Less. Kite works in most popular development environments, including the likes of VS Code, JupyterLab, Vim, Sublime and Atom, as well as all Jetbrains IntelliJ-based IDEs, including Android Studio.

This will make Kite a far more attractive solution for a lot of developers. Currently, the company says, it saves its most active developers from writing about 175 “words” of code every day. One thing that always made Kite stand out is that it ranks its suggestions by relevance — not alphabetically as some of its non-AI driven competitors do. To build its models, Kite fed its algorithms code from GitHub .

The service is available as a free download for Windows users and as a server-powered paid enterprise version with a larger deep learning model that consequently offers more AI smarts, as well as the ability to create custom models. The paid version also includes support for multi-line code completion, while the free version only supports line-of-code completions.

Kite notes that in addition to adding new languages, Kite also spent the last year focusing on the user experience, which should now be less distracting and, of course, offer more relevant completions.

Image Credits: Kite

News: Descript, Andrew Mason’s platform to edit audio by editing text, now lets you edit video, too

Descript, the latest startup from Groupon co-founder Andrew Mason, made a splash in the world of audio last year with a platform for easy audio editing based on how you edit written documents, adding features like an AI-based tool that uses a recording of you to let you create audio of any written text in

Descript, the latest startup from Groupon co-founder Andrew Mason, made a splash in the world of audio last year with a platform for easy audio editing based on how you edit written documents, adding features like an AI-based tool that uses a recording of you to let you create audio of any written text in your own voice.

Today the startup is moving into the next phase of its growth. It is launching Descript Video, with a set of tools to take screen recordings or videos and then create titles, transitions, images, video overlays or edits on them with no more effort than it takes to edit a Word document. It also features live collaboration links so that multiple people can work on a file at the same time — similar to a Google Doc — by way of links that you can share with others to the file itself.

You work with video on Descript in the same way you do audio: you upload the raw material onto the Descript platform, which then turns it into text. Then you add new features, or remove sections, or add in new parts, by adding in widgets or cutting out or adding in written words.

The video tools are launching today as part of Descript’s freemium service, with basic price tiers of  free, $12 and $24 per month depending on which features you take.

Descript’s launch comes at a key moment in the world of tech. Before the Covid-19 pandemic, video was already king of the content hill, thanks to advances in streaming, broadband speeds, processors on devices, a proliferation of services, and society’s inclination to lean back and watch things in their leisure time.

Yes, some people still read. And podcasts, recorded books, and other formats have definitely led to a kind of renaissance for audio. But video cuts through all of that when it comes to time spent online and consumer engagement. Like cats, it seems we’re just attracted by moving objects.

Now we have another added twist. The pandemic has become the age of video in the worlds of work, learning and play, with platforms like Zoom, Meet, Teams and WebEx taking on the role of conference room, quick coffee, dinner party, pub, and whatever other place you might have chosen to meet people before Covid-19 came along.

“We are increasingly living in a video-first world,” Mason said the other week from his house in the Bay Area, over a Zoom call. All of that means not just a ton of video, but a ton of video creators, counting not just the 50 million or so making content for Twitch, YouTube, Instagram, Snapchat and the rest, but also any one of us that is snapping a moving picture and posting it somewhere either for fun or for pay.

Video was always on the cards for Descript, Mason added, but it made sense first to focus on audio tools. That was in part because Descript itself was a spin-off from Detour (a detour from Detour, as it happens), an audio-guide business that was sold to Bose, and so sound was the focus.

“There is so much to build, so we wanted to start with some version of the product, and then add features in concentric circles of addressable markets,” said Mason. 

And that essentially is how the company sees the opportunity for selling a video editing product as an extension of an audio-editing tool. People who produce content for podcasts also often produce videos, and those who got their start on a platform like YouTube are now expanding their footprints with recorded word. Sometimes there is distinct material created for one platform or the other, but oftentimes there are excerpts repurposes, or full versions of audio from video turned into podcasts.

YouTubers or podcasters, meanwhile, have something in common with the average person: everyone is using technology now to produce content, but not everyone knows how to work with it on a technical level if you need to cut, edit or manipulate it in any way.

Descript’s aimed at professionals and prosumers, but actually it also follows in the vein of tools that let people build websites without needing to know HTML or have special design experience; or use any piece of software without having to build the functionality before using it. With all of the advances in actual tech, that idea has come a long way in modern times.

“Before I got into tech I was a music major. I got a degree in music tech and worked in a recording studio. I’ve been using these tools since I was a kid and know them super well,” Mason said. “But our approach has been to think of us like Airtable. We want to be part of that modern class of SaaS products that don’t mean you need to make a tradeoff between power and ease of use.”

Tools in this first build of the video include not just the ability to import video from anywhere that you can edit, but also a screen recorder that you can use to record excerpts from other places, or indeed your whole screen, which then can either be edited as standalone items, or as part of larger works. Things like this seem particularly aimed at the new class of “video producers” that are actually knowledge workers creating material to share with colleagues or customers.

While Overdub — the feature that uses natural language processing to let you create a “deepfake” of your own voice to overlay new audio into a recording by typing something out — work very smoothly on an audio recording, where you would be hard-pressed to notice where the changes have been made, on video cuts work out as small jumps, and Overdubs simply come out as added audio in the video. While audio and video jumps are pretty commonplace these days in videos these days, I imagine that the company is likely working on a way to smooth that out to mirror the audio experience as it is today.

Descript today is used by a number of big-name content publishers, including NPR, Pushkin Industries, VICE, The Washington Post and The New York Times, although Mason declined to disclose how many users it has in total.

At some point, however, numbers will tell another kind of story: just how much traction Descript is getting among the masses of competition in the field. Platforms like Zoom and Google’s are also adding in more editing tools, and there are a plethora of others building easy to use software to better work with audio and video, from Otter.ai through to Scribe, Vimeo, Adobe, Biteable and more.

In the meantime, Descript has caught the eye of some important backers, raising some $20 million to date from investors including Andreessen Horowitz and Redpoint.

News: Gen Z spends 10% more time in non-game apps than older users

A new report released today by App Annie digs into how Gen Z consumers engage with their smartphones and mobile apps. According to data collected in Q3 2020, Gen Z users spend an average of 4.1+ hours per month in non-gaming apps, or 10% longer than older demographics. They also engage with apps more often,

A new report released today by App Annie digs into how Gen Z consumers engage with their smartphones and mobile apps. According to data collected in Q3 2020, Gen Z users spend an average of 4.1+ hours per month in non-gaming apps, or 10% longer than older demographics. They also engage with apps more often, with 20% more sessions per user in non-gaming apps at 120 sessions per month per app, compared with older groups.

This app engagement data is only a view into Gen Z trends but is an incomplete analysis as it only focuses on select markets, including the U.S., U.K., Brazil, France, Germany, Indonesia, Japan, Mexico, South Korea and Turkey. It also included only data collected from Android devices, which doesn’t provide as full a picture.

App Annie found that Gen Z is more likely to use games than older users, but they don’t access them as often or use them as long. Those ages 25 and older actually spent nearly 20% longer in their most-used games and accessed them 10% more frequently. Both demographics spent more total time gaming than using non-game apps, on a monthly basis.

Image Credits: App Annie

One breakout in the games category for Gen Z users, however, was the casual arcade game Among Us!, which just became the third-most played game worldwide, thanks to its team-based multiplayer features and the surge of Twitch streams. When Rep. Alexandria Ocasio-Cortez played the game on Twitch last night, it became one of the biggest-ever Twitch streams, peaking at 435,000 concurrent viewers.

Other popular Gen Z games include Match-3 games like Candy Crush Saga and Toon Blast, action games like PUBG Mobile and Free Fire, and casual simulation games like Minecraft Pocket Edition and Roblox.

Image Credits: App Annie

The report also examined what apps Gen Z users prefer across a range of non-game categories across both iOS and Android.

TikTok and Snapchat, in particular, stood out as the top over-indexed social and communication apps among Gen Z in 9 out of the 10 markets analyzed for this report. This comes on the heels of Snap’s blowout earnings yesterday, where the social app topped analyst expectations and saw daily user growth climb 4% to 238M.

Discord is also seeing strong growth, particularly in France, as mobile and remote gaming has become an epicenter of social interactions during the pandemic.

Image Credits: App Annie

Among entertainment apps, Twitch was the top over-indexed app in 6 out of the 10 markets for Gen Z users, though live streaming niconico was popular in Japan.

App Annie found that finance and shopping apps haven’t yet reached a broad Gen Z audience, but are demonstrating promising growth.

Image Credits: App Annie

Few finance apps over-index with Gen Z, though the demographic tends to interact with non-bank fintech apps like Venmo, Monzo, and DANA. In South Korea, a top app was peer-to-peer payments app Toss, which also offers loans, insurance and credit.

Top Gen Z fashion apps, meanwhile, included Shein, ASOS, Shopee and Mercari.

Overall, active Gen Z users are rising faster across the markets analyzed, compared with older groups, with emerging markets like Indonesia and Brazil, seeing the most growth.

Image Credits: App Annie

App Annie noted that Gen Z is becoming one of the most powerful consumer segments on mobile, as 98% own a smartphone and have an combined estimated spending power of $143 billion annually.

“Gen Z has never known a world without their smartphone. They see the world through this mobile first lens,” said Ted Krantz, CEO, App Annie, in a statement about the report’s findings.

News: Secureframe raises $4.5M to help businesses speed up their compliance audits

While certifications for security management practices like SOC 2 and ISO 27001 have been around for a while, the number of companies that now request that their software vendors go through (and pass) the audits to be in compliance with these continues to increase. For a lot of companies, that’s a harrowing process, so it’s

While certifications for security management practices like SOC 2 and ISO 27001 have been around for a while, the number of companies that now request that their software vendors go through (and pass) the audits to be in compliance with these continues to increase. For a lot of companies, that’s a harrowing process, so it’s maybe no surprise that we are also seeing an increase in startups that aim to make this process easier. Earlier this month, Strike Graph, which helps automate security audits, announced its $3.9 million round and today, Secureframe, which also helps businesses get and maintain their SOC 2 and ISO 27001 certifications, is announcing a $4.5 million round.

Secureframe’s round was co-led by Base10 Partners and Google’s AI-focused Gradient Ventures fund. BoxGroup, Village Global, Soma Capital, Liquid2, Chapter One, Worklife Ventures, and Backend Capital. Current customers include Stream, Hasura and Benepass.

Image Credits: Secureframe

Shrav Mehta, the company’s co-founder and CEO, spent time at a number of different companies, but he tells me that the idea for Secureframe was mostly born during his time at direct-mail service Lob.

“When I was at Lob, we dealt with a lot of issues around security and compliance because we were sometimes dealing with very sensitive data, and we’d hop on calls with customers, had to complete thousand-line security questionnaires, do exhaustive security reviews, and this was a lot for a startup of our size at the time. But it’s just what our customers needed. So I started to see that pain,” Mehta said.

Secureframe co-founder and CEO Shrav Mehta

Secureframe co-founder and CEO Shrav Mehta

After stints at Pilot and Scale AI after he left Lob in 2017 — and informally helping other companies manage the certification process — he co-founded Secureframe together with the company’s CTO Natasja Nielsen.

“Because Secureframe is basically adding a lot of automation with our software — and making the process so much simpler and easier — we’re able to bring the cost down to a point where this is something that a lot more companies can afford,” Mehta explained. “This is something that everyone can get in place from day one, and not really have to worry that, ‘hey, this is going to take all of our time, it’s going to take a year, it’s going to cost a lot of money.’ […] We’re trying to solve that problem to make it super easy for every organization to be secure from day one.”

The main idea here is to make the arcane certification process more transparent and streamline the process by automating many of the more labor-intensive tasks of getting ready for an audit (and it’s virtually always the pre-audit process that takes up most of the time). Secureframe does so by integrating with the most-often used cloud and SaaS tools (it currently connect to about 25 services) and pulling in data from them to check up on your security posture.

“It feels a lot like a QuickBooks- or TurboTax-like experience, where we’ll essentially ask you to enter basic details about your business. We try to autofill as much of it as possible from third-party sources — then we asked you to connect up all the integrations your business uses,” Mehta explained.

The company plans to use much of the new funding to staff up and build out these integrations. Over time, it will also add support for other certifications like PCI, HITRUST and HIPAA.

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