Yearly Archives: 2020

News: Indonesian telecom network Telkomsel invests $150 million in GoJek

Telkomsel, Indonesia’s biggest telecom network, has invested $150 million in ride-hailing firm GoJek, the two companies said on Tuesday. As part of the “strategic partnership,” the two firms said they will explore a “broad range of collaboration opportunities” to reach millions of Indonesians. Since 2018, GoJek and Telkomsel have maintained a deal to subsidize the

Telkomsel, Indonesia’s biggest telecom network, has invested $150 million in ride-hailing firm GoJek, the two companies said on Tuesday.

As part of the “strategic partnership,” the two firms said they will explore a “broad range of collaboration opportunities” to reach millions of Indonesians. Since 2018, GoJek and Telkomsel have maintained a deal to subsidize the cost of mobile data consumed by the ride-hailing firm’s driver partners.

“This is a great day for Gojek and for Indonesia, as we strengthen our collaboration with Telkomsel, one of Indonesia’s most forward-looking telecommunication companies. By working together, we hope to help Indonesia become a true digital powerhouse in Southeast Asia, and bring the benefits of the digital economy to millions more consumers, driver-partners and small businesses,” Gojek co-chief executive Andre Soelistyo said in a statement.

More to follow…

News: PingCAP, the open-source developer behind TiDB, closes $270 million Series D

PingCAP, the open-source software developer best known for NewSQL database TiDB, has raised a $270 million Series D. TiDB handles hybrid transactional and analytical processing (HTAP), and is aimed at high-growth companies, including payment and e-commerce services, that need to handle increasingly large amounts of data. The round’s lead investors were GGV Capital, Access Technology

PingCAP, the open-source software developer best known for NewSQL database TiDB, has raised a $270 million Series D. TiDB handles hybrid transactional and analytical processing (HTAP), and is aimed at high-growth companies, including payment and e-commerce services, that need to handle increasingly large amounts of data.

The round’s lead investors were GGV Capital, Access Technology Ventures, Anatole Investment, Jeneration Capital and 5Y Capital (formerly known as Morningside Venture Capital). It also included participation from Coatue, Bertelsmann Asia Investment Fund, FutureX Capital, Kunlun Capital, Trustbridge Partners, and returning investors Matrix Partners China and Yunqi Partners.

The funding brings PingCAP’s total raised so far to $341.6 million. Its last round, a Series C of $50 million, was announced back in September 2018.

PingCAP says TiDB has been adopted by about 1,500 companies across the world. Some examples include Square; Japanese mobile payments company PayPay; e-commerce app Shopee; video-sharing platform Dailymotion; and ticketing platfrom BookMyShow. TiDB handles online transactional processing (OLTP) and online analytical processing (OLAP) in the same database, which PingCAP says results in faster real-time analytics than other distributed databases.

In June, PingCAP launched TiDB Cloud, which it describes as fully-managed “TiDB as a Service,” on Amazon Web Services and Google Cloud. The company plans to add more platforms, and part of the funding will be used to increase TiDB Cloud’s global user base.

News: Digital electricity supplier Tibber closes $65M Series B led by Eight Roads, Balderton

Tibber, a ‘digital electricity’ supplier which uses AI to switch around power for houses based on their predicted levels of consumption – has closed a $65 million Series B round led by Eight Roads Ventures and Balderton Capital, with participation from existing investors including San Francisco-based Founders Fund, which invested last year. Alongside equity, Tibber

Tibber, a ‘digital electricity’ supplier which uses AI to switch around power for houses based on their predicted levels of consumption – has closed a $65 million Series B round led by Eight Roads Ventures and Balderton Capital, with participation from existing investors including San Francisco-based Founders Fund, which invested last year. Alongside equity, Tibber secured working capital funding by Nordea to support the high pace of growth.

You probably have one electricity supplier for your house. But these days the average household could probably buy from several such companies; it just can’t easily access the marketplace of possible suppliers. Wouldn’t it be smarter if you had an AI in your house that could purchase energy from these producers, including those within the local grid, at the best prices and at the best time of day? This is what Tibber does. It also does it to within 3 hours of your predicted usage.

The funding will support further investments into Tibber’s pioneering technology, scaling up the team, and expanding into new markets, the next one being the Netherlands in 2021.

Tibber CEO Edgeir Vårdal Aksnes said in a statement: “For us, this means that we can continue our mission of making energy smarter at an even faster pace. Our app has quickly become popular, and it has contributed to smart and green energy at lower prices. Our idea is to empower consumers to one day become independent from the electric grid and slow-moving monopolies.”

Since Tibber launched in 2016, it has seen organic growth to 100,000 paying households in Norway, Sweden and Germany. The company was founded in 2016 by Norwegian Edgeir Vårdal Aksnes and Swedish Daniel Lindén who were frustrated by the poor customer experience provided by traditional energy companies.

Alston Zecha from Eight Roads Ventures said: “Our team has been following the energy industry for years, and immediately recognized that Tibber is a game-changer. With market-leading technological capabilities, an innovative business model, and extremely positive customer reviews, Tibber delivers green energy at the fairest price.”

James Wise, Partner at Balderton Capital, said: “Changing our behavior, and in particular, the way we consume energy at home is one of the biggest challenges we face in combating climate change. Tibber brings greater transparency to home energy usage while giving users a simple way to switch to renewable energy providers and control their home devices. It’s like a Fitbit for your home, but one which can put it on a healthy energy diet too.”

Tibber replaces traditional utilities with smart technology, supplying its customers with renewable energy at transparent prices. In addition, its app provides real-time analytics into energy usage, and pairs with a variety of smart home devices to reduce electricity consumption at home. Tibber has set a target to reduce the residential electricity consumption for European households by 20%.

News: Sequoia-backed recycling robot maker AMP Robotics gets its largest purchase order

AMP Robotics, the manufacturer of robotic recycling systems, has received its largest purchase order from the publicly traded North American waste handling company, Waste Connections. The order, for 24 machine learning enabled robotic recycling systems, will be used on container, fiber and residue lines across numerous materials recovery facilities, the company said. The AMP technology

AMP Robotics, the manufacturer of robotic recycling systems, has received its largest purchase order from the publicly traded North American waste handling company, Waste Connections.

The order, for 24 machine learning enabled robotic recycling systems, will be used on container, fiber and residue lines across numerous materials recovery facilities, the company said.

The AMP technology can be used to recover plastics, cardboard, paper, cans, cartons and many other containers and packaging types reclaimed for raw material processing.

The tech can tell the difference between high-density polyethylene and polyethylene terephthalate, low-density polyethylene, polypropylene, and polystyrene. The robots can also sort for color, clarity, opacity and shapes like lids, tubs, clamshells, and cups — the robots can even identify the brands on packaging.

So far, AMP’s robots have been deployed in North America, Asia, and Europe with recent installations in Spain, and across the US in California, Colorado, Florida, Minnesota, Michigan, New York, Texas, Virginia and Wisconsin.

In January, before the pandemic began, AMP Robotics worked with its investor, Sidewalk Labs on a pilot program that would provide residents of a single apartment building representing 250 units in Toronto with detailed information about their recycling habits.

Working with the building and a waste hauler, Sidewalk Labs  would transport the waste to a Canada Fibers material recovery facility where trash will be sorted by both Canada Fibers employees and AMP Robotics. Once the waste is categorized, sorted, and recorded Sidewalk will communicate with residents of the building about how they’re doing in their recycling efforts.

Sidewalk says that the tips will be communicated through email, an online portal, and signage throughout the building every two weeks over a three-month period.

For residents, it was an opportunity to have a better handle on what they can and can’t recycle and Sidewalk Labs is betting that the information will help residents improve their habits. And for folks who don’t want their trash to be monitored and sorted, they could opt out of the program.

Recyclers like Waste Connections should welcome the commercialization of robots tackling industry problems. Their once-stable business has been turned on its head by trade wars and low unemployment. About two years ago, China decided it would no longer serve as the world’s garbage dump and put strict standards in place for the kinds of raw materials it would be willing to receive from other countries. The result has been higher costs at recycling facilities, which actually are now required to sort their garbage more effectively.

At the same time, low unemployment rates are putting the squeeze on labor availability at facilities where humans are basically required to hand-sort garbage into recyclable materials and trash.

AMP Robotics is backed by Sequoia Capital,  BV, Closed Loop Partners, Congruent Ventures  and Sidewalk Infrastructure Partners, a spin-out from Alphabet that invests in technologies and new infrastructure projects.

News: Huawei sells budget phone unit Honor to government, distribution partners

After weeks of rumors, Huawei confirmed it is selling its budget phone unit Honor to a consortium of companies, including government-backed firms and Honor’s distribution partners, according to a joint statement released Tuesday morning in a local Shenzhen paper. “This acquisition represents a market-driven investment made to save Honor’s supply chain. It is the best

After weeks of rumors, Huawei confirmed it is selling its budget phone unit Honor to a consortium of companies, including government-backed firms and Honor’s distribution partners, according to a joint statement released Tuesday morning in a local Shenzhen paper.

“This acquisition represents a market-driven investment made to save Honor’s supply chain. It is the best solution to protect the interests of Honor’s consumers, channel sellers, suppliers, partners, and employees,” said the statement signed by the 40 companies.

Huawei lost major chip and software suppliers after the U.S. government slapped trade sanctions on the telecoms equipment and smartphone giant. A spin-out can in theory exempt Honor from the supply chain restrictions that have struck Huawei hard.

In the meantime, no one in the consortium poses an existential threat to Huawei’s market position. That leaves enough leeway for Huawei if it ever wants to buy Honor back from the group of government-backed firms and phone dealers and agents.

The announcement did not put a price tag on the purchase, though Reuters previously reported it could cost 100 billion yuan ($15 billion).

This is an updating story.

News: Daily Crunch: GitHub reinstates YouTube downloading project

GitHub defies a takedown order, Strava raises a big round and Moderna reports promising COVID-19 vaccine results. This is your Daily Crunch for November 16, 2020. The big story: GitHub reinstates YouTube downloading project Back in October, the Recording Industry Association of America sent a DMCA complaint to GitHub over a project called YouTube-dl, which

GitHub defies a takedown order, Strava raises a big round and Moderna reports promising COVID-19 vaccine results. This is your Daily Crunch for November 16, 2020.

The big story: GitHub reinstates YouTube downloading project

Back in October, the Recording Industry Association of America sent a DMCA complaint to GitHub over a project called YouTube-dl, which allows viewers to download YouTube videos for offline viewing. According to the trade group, YouTube-dl both circumvented DRM and, in its documentation, promoted the piracy of several popular songs.

However, the Electronic Frontier Foundation sent GitHub a letter criticizing the RIAA’s argument and suggesting that, among other things, it mischaracterizes how YouTube-dl’s code actually works.

In response, GitHub has restored the project’s code. It also says it’s rethinking how it will handle takedown notices in the future, with a new $1 million developer defense fund and the response of technical and legal review of any future claims filed under section 1201 of the DMCA.

The tech giants

You can now embed Apple Podcasts on the web — Apple is making it easier to discover and listen to podcasts via the web.

Apple’s IDFA gets targeted in strategic EU privacy complaints — The complaints, lodged with German and Spanish data protection authorities, contend that Apple’s setting of the IDFA breaches regional privacy laws.

Spotify adds a built-in podcast playlist creation tool, ‘Your Episodes’ — The feature lets you bookmark individual episodes from any podcast, which are then added to a new “Your Episodes” playlist.

Startups, funding and venture capital

Strava raises $110M, touts growth rate of 2 million new users per month in 2020 — Strava has 70 million members already according to the company, with presence in 195 countries globally.

Squarespace adds support for memberships and paywalled content — Squarespace’s new Member Areas allow businesses to charge for access to exclusive content.

Computer vision startup Chooch.ai scores $20M Series A — Chooch.ai hopes to help companies adopt computer vision more broadly.

Advice and analysis from Extra Crunch

Will edtech empower or erase the need for higher education? — Campuses are closed, sports have been paused and, understandably, students don’t want to pay the same tuition for a fraction of the services.

Three growth tactics that helped us surpass Noom and Weight Watchers — Over the past year, nutrition app Lifesum has acquired users at nearly twice the rate of both Noom and Weight Watchers.

Unpacking the C3.ai IPO filing — C3 is actually in pretty good financial shape, generating both growing recurring software revenues and cash in some quarters.

(Reminder: Extra Crunch is our membership program, which aims to democratize information about startups. You can sign up here.)

Everything else

Moderna reports its COVID-19 vaccine is 94.5% effective in first data from Phase 3 trial — Following fast on the heels of Pfizer’s announcement of its COVID-19 vaccine efficacy, Moderna is also sharing positive results from its Phase 3 trial.

HBO Max arrives on Amazon Fire TV devices — As a part of the new deal, existing HBO subscribers on Amazon will be able to use the HBO Max app at no additional cost.

Original Content podcast: ‘The Vow’ offers a muddled look at the NXIVM cult — It’s a fascinating documentary hampered by some unfortunate storytelling choices.

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 3pm Pacific, you can subscribe here.

News: Equity shot: Airbnb’s IPO is finally here

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines. Today we have an Equity Shot for you about Airbnb’s S-1 filing, as it looks to go public before the year is out. First we get into Airbnb’s macro performance, which shows a stable picture historical revenue growth.

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines.

Today we have an Equity Shot for you about Airbnb’s S-1 filing, as it looks to go public before the year is out.

  • First we get into Airbnb’s macro performance, which shows a stable picture historical revenue growth. There is a ton of numbers to get to so get ready for a quick dive into net revenue, gross margins, and losses.
  • Then we discuss the dramatic drop in bookings, the promising comeback, and if short-term travel is Airbnb’s future.
  • There’s a weird quarter of profitability that you should all know about, and a heads up on what to look for in Q4 numbers.
  • Finally, we talk about the bullish and bearish case on Airbnb, which poetically filed the same day that Moderna announced a promising vaccine trial. 

All that, and our trusty other host Danny Crichton was busy filing a post about the winners and losers of the Airbnb IPO. Ownership, you quiet, billionaire beast. There’s more coming from TechCrunch on the company’s IPO, and from the Equity crew on everything else we ferret out on Thursday. Stay tuned!

Equity drops every Monday at 7:00 a.m. PDT and Thursday afternoon as fast as we can get it out, so subscribe to us on Apple PodcastsOvercastSpotify and all the casts.

 

News: Tesla gets a spot on the S&P 500

Tesla will be added to the S&P 500, a milestone that will expand its investor base and put the electric automaker in the same company as heavyweights like Apple, Berkshire Hathaway and Microsoft. The announcement, made Monday afternoon by the S&P Dow Jones Indices, sent shares 13.7% higher in after-market trading. Tesla will officially join the benchmark

Tesla will be added to the S&P 500, a milestone that will expand its investor base and put the electric automaker in the same company as heavyweights like Apple, Berkshire Hathaway and Microsoft.

The announcement, made Monday afternoon by the S&P Dow Jones Indices, sent shares 13.7% higher in after-market trading. Tesla will officially join the benchmark index prior to trading December 21, the S&P Dow Jones Indices said in a statement.

When Tesla joins the S&P 500, it will be among the most valuable companies on the benchmark. Its weighting will be so influential that the S&P DJI mulling whether to add the stock at the full float-adjusted market capitalization weight all at once or in two tranches.

“Tesla will be one of the largest weight additions to the S&P 500 in the last decade, and consequently will generate one of the largest funding trades in S&P 500 history,” S&P DJI said in a statement. “However, Tesla itself is very liquid, and adding the stock at the upcoming December quarterly rebalancing coincides with the expiration of stock options, stock futures, stock-index options, and stock-index futures, which may help facilitate the funding trade.”

Joining the S&P 500 has its benefits as investors that have index-tracked funds will be forced to buy shares. With share prices already popping that will mean investors will have to sell other stocks to make room for Tesla. Existing investors may, in turn, want to take advantage of that demand and sell. The upshot: the traditionally volatile stock might get a bit more volatile.

The inclusion on the benchmark follows Tesla’s decision in August to split its shares 5 for 1.

News: Jack Dorsey and Mark Zuckerberg will face Congress again, this time about the election

After giving in to the looming threat of subpoenas, two of tech’s most high profile CEOs will again be grilled by Congress. On Tuesday, the Senate Judiciary Committee will host Twitter’s Jack Dorsey and Facebook’s Mark Zuckerberg for what’s likely to be another multi-hour airing of assorted grievances. In this round, Republican lawmakers called the

After giving in to the looming threat of subpoenas, two of tech’s most high profile CEOs will again be grilled by Congress.

On Tuesday, the Senate Judiciary Committee will host Twitter’s Jack Dorsey and Facebook’s Mark Zuckerberg for what’s likely to be another multi-hour airing of assorted grievances. In this round, Republican lawmakers called the hearing to press the tech titans on “Censorship, Suppression, and the 2020 Election.” The hearing, which was scheduled before the election, was apparently inspired by the platforms’ decisions to limit the reach of a dubious New York Post story presenting leaked information purporting to implicate now President-elect Joe Biden and his son Hunter in a corrupt political influence scheme in Ukraine.

If the last hearing is any indication, and it likely is, Tuesday’s tech vs. Congress showdown will be less about cornering the two tech platform CEOs on the stated topic than it will be a far-ranging complaint session about Republicans’ ongoing complaints about anti-conservative bias punctuated by bipartisan soliloquies on lawmakers’ various pet topics. While that hearing, held last month in the Senate Commerce Committee, was ostensibly about Section 230 reform, the pressing policy issue barely came up.

Tuesday will be the first post-election Congressional appearance from social media leaders, so we can also expect a war of competing political realities. In one, President Trump, unfairly assailed by tech and the media alike, is somehow still a contender for the presidency. In the other reality (the real one), President-elect Joe Biden won the election decisively but his victory remains mired in social media misinformation. The latter scenario has played out in spite of a mixed bag of special tools and rules devised by Twitter and Facebook to rein in looming post-election conspiracies.

The Senate Judiciary Committee is led by Republican Sen. Lindsey Graham, a former Trump critic turned hype guy who has urged the president not to concede the election. Sen. Ben Sasse, a Republican who broke rank to recognize the reality of the election results, will also have a turn at Zuckerberg and Dorsey. Democrats on the committee include a generous sprinkling of contenders for the 2020 nomination, including Senators Cory Booker, Amy Klobuchar and now Vice President-elect Kamala Harris, who is doing transition work and unlikely to be present.

If you’re interested in subjecting yourself to Tuesday’s proceedings, you can watch the hearing live on the committee’s own page or on C-SPAN Tuesday at 7AM PT. If you’re not, and we can’t exactly suggest it, circle back after things are over and we’ll catch you up. But before we leave you, one question: How does YouTube’s Susan Wojcicki keep staying out of these things?

News: The VC and founder winners in Airbnb’s IPO

After a tumultuous year for the travel industry, Airbnb’s long-awaited IPO filing just dropped. One thing is clear: there is still plenty of juice left in the home-sharing platform, and a smattering of VCs and the company’s founders are positioned to receive some serious returns. My colleague Alex Wilhelm has an overview article on Airbnb’s

After a tumultuous year for the travel industry, Airbnb’s long-awaited IPO filing just dropped. One thing is clear: there is still plenty of juice left in the home-sharing platform, and a smattering of VCs and the company’s founders are positioned to receive some serious returns.

My colleague Alex Wilhelm has an overview article on Airbnb’s financial picture and overall metrics. It’s a mixed bag, but perhaps stronger than might otherwise be expected, given the global collapse of tourism due to the pandemic. Revenues are stabilizing, growth is up and bookings aren’t catastrophic.

So let’s get to the most fun question with these big startup IPO offerings, who made the money?

First and foremost, Airbnb’s founders — Brian Chesky, Nathan Blecharczyk and Joe Gebbia — managed to hold together a whopping 41.95% of the company based on data offere in its S-1 filing, with Chesky owning slightly more than his two co-founders.

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