Tag Archives: Blog

News: Court overturns Amsterdam’s three-district ban on Airbnb rentals

• March 15, 2021
• by:   
• in:  Blog 
• note:  no comments 

A ban by Amsterdam authorities on housing owners offering their properties for vacation rentals in three central districts of the popular tourist city has been overturned after a court ruled it has no basis in law. City authorities had been responding to concerns over the impact of tourist platforms like Airbnb on quality of life

A ban by Amsterdam authorities on housing owners offering their properties for vacation rentals in three central districts of the popular tourist city has been overturned after a court ruled it has no basis in law.

City authorities had been responding to concerns over the impact of tourist platforms like Airbnb on quality of life for residents.

An update to the city’s website notes that, from tomorrow, it will be possible for property owners to apply for a holiday rental permit in the three neighborhoods where vacation rentals had been entirely banned from July 1 last year.

City authorities write that they are studying the court ruling and will update the page “as soon as more is known”.

Amsterdam’s authorities took the step of prohibiting vacation rentals in the Burgwallen-Oude Zijde, Burgwallen-Nieuwe Zijde and Grachtengordel-Zuid districts last summer after a consultation process found widespread support among residents for a ban.

Authorities said strong growth in tourist rentals was impacting quality of life for residents.

It has also previously introduced a permit system to control vacation rentals in other districts of the city — which limits rentals to (currently) a maximum of 30 nights per year and for a maximum of four people per rental.

A further condition of the permit states that: “Your guests [must] not cause any inconvenience.”

Following the court ruling that permit system will operate in the three central districts too.

The city’s ban on vacation rentals in the central districts was challenged by an association (Amsterdam Gastvrij) that represents the interests of homeowners who rent their properties through Airbnb and other platforms. They had argued that the Housing Act 2014 did not provide a legal basis for a prohibition on holiday rental. 

The Court of Amsterdam agreed, writing in its judgement that “a system of permits cannot contain a total prohibition”.

“Anyone who meets the conditions of the permit is in principle eligible for a permit. A total ban is a major infringement of the right to property and the free movement of services and will only be seen as a justified measure in very exceptional circumstances,” it further emphasized. 

An Airbnb spokesperson told us the company was not involved in the proceedings to challenge the ban but the spokesperson was keen to highlight the outcome. 

However the court’s verdict leaves room for the city to amend legislation to add new conditions to the permit system which could include a ‘quality of life’ consideration (which it does not currently).

The court also suggests the possibility of a quota system with a night criterion being introduced under existing legislation, as another means of using the permit system to manage quality of life. It further suggests city authorities could enforce residential (rather than touristic) purposes for houses via a zoning plan. So there are alternative avenues for Amsterdam’s officials to explore as a policy tool to limit activity on Airbnb et al.

At the same time the court ruling underlines the challenges European cities face in trying to regulate the impacts of rental platforms on areas like housing availability (and affordability) and wider quality of life issues for residents dealing with over-tourism (not currently an issue, of course, given ongoing travel restrictions related to the coronavirus pandemic).

In recent years a number of major tourist cities in Europe have expressed public frustration over vacation rental platforms — penning an open letter to the European Commission back in 2019 that called for “strong legal obligations for platforms to cooperate with us in registration-schemes and in supplying rental-data per house that is advertised on their platforms”.

“Cities must protect the public interest and eliminate the adverse effects of short term holiday rental in various ways. More nuisances, feelings of insecurity and a ‘touristification’ of their neighbourhoods is not what our residents want. Therefore (local) governments should have the possibility to introduce their own regulations depending on the local situation,” they also wrote, urging EU policymakers to support a rethink of the rules.

Since then the Commission has announced a limited data-sharing arrangement with the leading vacation rental platforms, saying it wants to encourage “balanced” development of peer-to-peer rentals.

Last year the Dutch government pressed the Commission to go further over data access to vacation rental platforms — pushing for a provision to be included in a major planned update to pan-EU rules wrapping digital services, aka the Digital Services Act (DSA).

The DSA proposal, which is now going through the EU’s co-legislative process, is broadly targeted at standardizing processes for tackling illegal goods and services — so it could have implications for vacation platforms in areas like data-sharing where it relates to illegal vacation rentals (i.e. where a property is advertised without a required permit).

News: 4 signs your product is not as accessible as you think

• March 15, 2021
• by:   
• in:  Blog 
• note:  no comments 

More than 1/4 of the U.S. adult population lives with some form of disability, and businesses that are ignorant or slow to respond to accessibility needs are producing products for a smaller group of users.

For too many companies, accessibility wasn’t baked into their products from the start, meaning they now find themselves trying to figure out how to inject it retrospectively. But bringing decades-long legacy code and design into the future isn’t easy (or cheap).

Businesses have to overcome the fear and uncertainty about how to do such retrofitting, address the lack of education to launch such projects, and balance the scope of these iterations while still maintaining other production work.

Among the U.S. adult population, 26% live with some form of disability, and businesses that are ignorant or slow to respond to accessibility needs are producing digital products for a smaller group of users. Someone who is a neophyte might not be able to use a product with overwhelming cognitive overhead. Someone using a product that isn’t localized may not be able to refill their prescription in a new country.

We recently saw this play out in the “cat lawyer” episode, which the kitten-faced attorney took in good humor. But it also reminded us that many people struggle with today’s basic tools, and for those who don’t, it’s hard to understand just how much this disrupts people’s personal and professional lives.

If you’re a founder with a software product out there, you probably won’t receive as loud an alarm bell as a viral cat filter video to tell you that something’s wrong. At least not immediately. Unfortunately, that time will come because social media has become the megaphone for support issues. You want to avoid that final, uncontrollable warning sign. Here are four other warning signs that make clear your product is not as accessible as you might think — and how you can address that.

1. You didn’t define a11y principles at the start of your journey

Accessibility is a key ingredient in your product cake — and it’ll always taste best when it’s added to the mix at the beginning. It’s also more time- and cost-effective, as fixing a usability issue after the product has been released can cost up to 100 times more than earlier on in the development process.

Your roadmap should work toward the four principles of accessibility, described using the acronym POUR.

• Perceivable: Your users need to be able to perceive all of the information displayed on your user interface.
• Operable: Your users must be able to operate and navigate your interface components.
• Understandable: Your content and the functioning of your user interface must be clearly understandable to users.
• Robust: Your content has to be robust enough that a wide variety of users can continue to access it as technologies advance, including assistive technologies.

Without following each of these principles consistently, you cannot guarantee that your product is accessible to everybody.

The roadmap should integrate accessibility efforts into the design, development and quality assurance process, all the way through to product release and updates, where the cycle starts all over.

This means it’s vital to have everyone on your team informed and committed to accessibility. You could even go further and nominate one person from each team to lead the accessibility process and be responsible for each team’s compliance. It’s worth starting any new project with an accessibility audit so you understand exactly where your gaps are. And by syncing with sales and support teams, you can identify where users are experiencing friction.

This baking process helps you avoid legal problems in the future as a result of non-compliance. In 2019, a blind man successfully sued Domino’s after he was unable to order food on the Domino’s website and mobile app, despite using screen-reading software. Beyoncé’s company was sued by a blind woman that same year. Product owners are wide open to lawsuits if they don’t implement the Web Content Accessibility Guidelines.

To help you on your way, IBM’s Carbon Design System is an open-source design system for digital products that offers free guidelines to build an accessible product, including for people with physical or cognitive disabilities. In addition, software tools exist that can help you do accessibility checks ahead of time rather than when the product is finished.

2. You’re treating a11y like a set-it-and-forget-it

Design trends evolve fast in the tech world. Your team is probably staying on top of the latest software or mobile features, but are they paying attention to accessibility?

A11y needs maintenance; the requirements for the web and mobile platforms are changing all the time and it’s important (as well as necessary) to stay on top of those changes. If you’re not carrying out constant tweaks and upgrades, chances are that you’ve racked up a few accessibility issues over time.

Plan regular meetings where you review and discuss your products’ accessibility and a11y compliance. Look at what other products are doing to be more accessible and attend courses about inclusive design (e.g., TechCrunch Sessions). Platforms like the A11Y Project are also incredibly useful resources for teams to stay up to date, and they also offer books, tutorials, professional support and professional testers.

3. You and your team haven’t tried out a11y tools

The best accessibility tool you have is your team itself. Building a product with a diverse group of people will mean you encounter and rectify any barriers to use faster and can innovate with greater impact — after all, people with disabilities are some of the world’s greatest innovators.

Outside of your team makeup, ask yourself: Have you ever used a screen reader? Or tried to navigate your website using only your keyboard? Seen your designs simulated against various types of vision?

If the answer is no, chances are you’re letting key accessibility features slip through the cracks. By putting yourself in the shoes of someone with impairments, these tools force you toward a better appreciation of their needs.

Try and get your team using these tools as early as possible, especially if you’re struggling to convey to them the importance of a11y. Once you’ve broadened your perspective, it’ll genuinely be harder to not see how people with different abilities are experiencing your product. Which is why you should come back to your product afterward, as a user, and explore it through a new lens.

4. You aren’t talking to your users

Lastly, there’s little chance you’ve built a truly accessible product without actually talking to its users. The general population is the most diverse set of critics to warn you if your product’s falling short for people of different backgrounds and abilities. Every single user experiences a product uniquely, and regardless of all the effort you’ve put in until now, there will likely be issues.

Lend an ear to a wide range of users, throughout the product life cycle. You can do this by doing user testing with each update, asking users to complete surveys on their in-app experience, and holding focus groups that proactively enlist people with a spectrum of needs.

Accessible design is just good design. It’s a misconception that it only improves UX for people with disabilities — it provides a better experience for everyone. And all founders want their product to reach as many people as possible. Once you put in the initial effort and embrace it, it becomes easier, like another tool in your kit. You won’t get it 100% right on the first try. But this is about progress, not perfection.

News: US e-commerce on track for its first $1 trillion year by 2022, due to lasting pandemic impacts

• March 15, 2021
• by:   
• in:  Blog 
• note:  no comments 

The COVID-19 pandemic boosted U.S. online shopping by $183 billion, according to a new report by Adobe’s e-commerce division, released this morning. This figure represents the increase in online shopping during the months of March 2020, when the pandemic began in the U.S, through February 2021. During this time, U.S. consumers spent a total of

The COVID-19 pandemic boosted U.S. online shopping by $183 billion, according to a new report by Adobe’s e-commerce division, released this morning. This figure represents the increase in online shopping during the months of March 2020, when the pandemic began in the U.S, through February 2021. During this time, U.S. consumers spent a total of $844 billion online. Meanwhile, $813 billion was spent during the calendar year 2020 alone, up 42% over 2019. To put this $183 billion in perspective, Adobe notes it’s nearly the size of the last holiday shopping season, when $188.2 billion was spent online during the months of November and December 2020. The firm expects this growth to continue in the years ahead, reaching $1 billion by 2022.

The pandemic has served as an accelerant to many industries, pushing them years ahead of where their natural growth would have otherwise taken them.

E-commerce benefitted from this trend as well, as consumers faced stay-at-home orders, nonessential retailers closed their doors, and in-person shopping was replaced with online commerce for many consumers. Adobe says the pandemic itself produced a “rare step change in online spending, equivalent to a 20% boost,” and noted the impacts will continue even as the pandemic comes to an end in the months to come.

The company’s analysts, for example, noted that the first two months of 2021 (Jan.-Feb. 2021), have already seen consumer spending of $121 billion in the U.S, or a 34% year-over-year increase.

Also during this time, the buy-now-pay-later method for online shopping has jumped up by 215% year over year, with orders that are 18% larger — another factor in the growing sales driven by these changes.

Adobe predicts that current growth rates will continue, leading to 2021 calendar year sales of somewhere between $850 billion and $930 billion. It then expects 2022 to deliver the first trillion-dollar year for U.S. e-commerce.

Beyond the e-commerce sales increases, the pandemic may have also led to other long-lasting changes in terms of how people shop and what they’re buying.

Adobe said that both in-store and curbside pickup services had grown in adoption by 67% year over year, as of Feb. 2021. Consumers seem very receptive to this hybrid model of shopping, with a recent Adobe survey finding that 30% of U.S. consumers actually prefer pickup over standard delivery, for instance.

The shift to regular online shopping may have some later impacts on typical “sales holidays” that had, in the past, drawn larger increases in shopper activity. Memorial Day 2020 commerce grew 20% less than other days that week, and resulted in $32 million less revenue, Adobe noted. Labor Day and Presidents Day saw similar trends. And notably, the five days between Thanksgiving and Cyber Monday 2020 also contributed 9% less to revenue share during the holiday season, equivalent to $600 million.

There were some indications that retailers haven’t quite adapted to the surge of new online shoppers, however. “Out of stock” messages were common, peaking in July 2020, which saw 3x the number of stockouts compared with a pre-pandemic period. And in Jan. 2021, out of stock messages were elevated at 4x pre-pandemic levels. This was common particularly among groceries, pet products and medical supplies, Adobe said.

Online grocery has also benefited from the change in consumer behavior and doesn’t show any signs of slowing. In Feb. 2021, the category was up by 230% compared with Jan. 2020, pre-pandemic.

Unlike with consumer surveys, Adobe’s data is derived from trends seen directly in Adobe Analytics, which covers over 1 trillion visits to U.S. retail sites and over 100 million SKUs, giving it a more comprehensive, real-time look into the U.S. e-commerce industry and consumer spending.

News: Cruise acquires self-driving startup Voyage

• March 15, 2021
• by:   
• in:  Blog 
• note:  no comments 

Voyage, the autonomous vehicle startup that spun out of Udacity, has been acquired by Cruise, a deal that points to the continued consolidation within the nascent industry. Financial terms of the deal were not disclosed; the majority of Voyage’s 60-person team will move over to Cruise and the company’s co-founder and CEO Oliver Cameron will

Voyage, the autonomous vehicle startup that spun out of Udacity, has been acquired by Cruise, a deal that points to the continued consolidation within the nascent industry.

Financial terms of the deal were not disclosed; the majority of Voyage’s 60-person team will move over to Cruise and the company’s co-founder and CEO Oliver Cameron will take on a new role as vice president of product.

Voyage, which was founded in 2017, was a tiny startup compared to well-funded operations like Cruise, Argo AI, Waymo and Aurora. But despite its size and only raising $52 million, Cameron helped Voyage stand out. The company is best known for its operations in two senior living communities. Voyage tested and gave rides to people within a 4,000-resident retirement community in San Jose, Calif., as well as The Villages, a 40-square-mile, 125,000-resident retirement city in Florida.

“Voyage’s approach has always been to leverage our limited resources to deliver a product that restores mobility to those who need it most: senior citizens. We’ve made tremendous progress towards this goal, moving countless senior citizens (some as old as 92!) around their communities,” Cameron wrote in a blog post announcing the deal. “Now at Cruise, we are thrilled to have the substantial resources to eventually serve not just senior citizens, but every possible demographic who stands to benefit from self-driving services.”

Voyage won’t be shutting down operations at the two senior communities immediately. However, Cruise reiterated to TechCrunch that its focus is commercial operations in San Francisco. Inevitably, any testing or operations at the senior communities will come to end, although Cruise did not provide a timeline.

Cameron’s role as VP of product is another signal that Cruise is inching forward with plans to launch a commercial robotaxi service in San Francisco. Cruise has hired hundreds of engineers, both hardware and software, but it will need to win over customers if it hopes to build a loyal base of robotaxi users. In his new role, Cameron will be the one who will be thinking through every customer touchpoint for Cruise’s self-driving service.

Cameron described the union of Cruise and Voyage as a “wonderful marriage,” in a tweet Monday morning. He noted that Cruise has the “most advanced self-driving technology, unique auto partners and the first purpose-built self-driving vehicle.” “With Voyage and our customer-service obsessed team, we’ll together deliver a game-changing self-driving product.”

Cruise has the funds to put towards this component of the business. Earlier this year, Cruise said it raised $2 billion in a new equity round that has pushed its valuation up to $30 billion and delivered Microsoft as an investor and partner. GM, Honda and other institutional investors also put more capital into Cruise as the autonomous vehicle company inches closer to commercializing its technology.

News: Double your founder knowledge and save with a dual ticket to TC Early Stage 2021

• March 15, 2021
• by:   
• in:  Blog 
• note:  no comments 

Early-stage founders why not take a page from the old Doublemint gum slogan — double your pleasure, double your fun — and buy a dual-event pass for access to both TC Early Stage 2021 events? We can’t promise minty-fresh breath, but you will get twice the knowledge and double the opportunity to connect and expand

Early-stage founders why not take a page from the old Doublemint gum slogan — double your pleasure, double your fun — and buy a dual-event pass for access to both TC Early Stage 2021 events? We can’t promise minty-fresh breath, but you will get twice the knowledge and double the opportunity to connect and expand your network. Sweet!

Fast Action: This early-bird offer expires promptly on March 26 at 11:59 pm (PST). Don’t miss your chance to save up to $100.

The two all-virtual bootcamp experiences (Operations and Fundraising on April 1-2 and Marketing and Fundraising on July 8-9) feature different sets of experts, content and presentations, but both focus on the vital startup skills entrepreneurs need to master.

What’s more, you’ll learn from the best of the best. Founders, investors and other startup experts who’ve been in the trenches and done the heavy lifting. They’ll share their experiences and advice to help you sharpen your skills and avoid pitfalls.

Here’s a quick hit of what we have in store for April. Check out the agenda and start planning your schedule.

Finding Your Product Market Fit: Sean Lane, Olive AI’s founder and CEO, is no stranger to the pivot. Hear how he practiced patience in the search for product market fit, how he knew it when he finally found it and tactics he used to build on it.

How to Nail Your Virtual Pitch Meeting: The rules of the pitch meeting have changed. Instead of traveling across the country, wasting time in planes, trains and automobiles, founders can take upwards of 30 meetings in a day from the comfort of their home. Entrepreneur and VC Melissa Bradley will outline how to make the most of that half hour on Zoom and lock in the next meeting.

Here’s what Ashley Barrington, founder of MarketPearl, told us about her time at TC Early Stage 2020.

“TechCrunch offered a great variety of sessions and speakers — top investors, founders and credible subject-matter experts — who gave unique insights based on personal experience. You get great mentorship through attending the Early Stage sessions. It’s like a mini masterclass in entrepreneurship.”

Don’t wait. Double down on your own success and join us for both TC Early Stage 2021 events. You have less than two weeks to score the early-bird price on a dual-event pass and save up to $100. That’ll buy a whole lot of Doublemint gum.

Is your company interested in sponsoring or exhibiting at TC Early Stage 2021 — Operations & Fundraising? Contact our sponsorship sales team by filling out this form.

News: Desktop Metal launches a health-focused business line

• March 15, 2021
• by:   
• in:  Blog 
• note:  no comments 

Mass manufacturing may be the future of 3D printing (one hopes), but health products are very much its present. From orthodontics to prosthesis, medical needs are right in the sweet spot for additive manufacturing. Prototyping is a category with a specific ceiling, while true mass manufacturing is still at an impossible scale for most of

Mass manufacturing may be the future of 3D printing (one hopes), but health products are very much its present. From orthodontics to prosthesis, medical needs are right in the sweet spot for additive manufacturing. Prototyping is a category with a specific ceiling, while true mass manufacturing is still at an impossible scale for most of these systems. Medical and dental present a larger market that still requires a good deal of customization.

Today, Desktop Metal announced that it launched Desktop Health, a line specifically devoted to healthcare-adjacent products. The line encompasses a number of different technologies, including binder jetting, bioprinting and various materials.

Image Credits: Desktop Health

“Today the world manufactures more than $85 billion in medical and dental implants each year,” Desktop Metal CEO Ric Fulop said in a release. “We think a large percentage of these parts could be printed and made patient-specific before the end of the decade, making this market a key opportunity for Desktop Metal.

Dentistry/orthodontics continue to be top of mind (think retainers and Invisalign-style braces, to start), but current and future applications extend beyond that. The list includes things like tissue and graft printing, as the company explores how the process might grow in the future.

Leading the division is Michael Mazen Jafar. The former COO of Evolus will be coming on board as the CEO of the new line. “Desktop Health has a mission to change the way patients experience personalized healthcare, through innovation and science-based solutions,” he says in the release.

The additive manufacturing company announced plans to go public via SPAC last August. This January, it purchased EnvisionTEC for $300 million. The German company specializes in photopolymer printing, a key emerging technology for dental. It already sported 1,000 dental customers, including Smile Direct Club, which will no doubt serve as a key foundation for the new division.

News: Netflix gets 35 Oscar nominations, including 10 for ‘Mank’

• March 15, 2021
• by:   
• in:  Blog 
• note:  no comments 

Netflix’s original films received 35 Oscar nominations this year, once again putting the streaming service ahead of ahead of any other Hollywood studios. “Mank” led the pack with 10 nominations, including Best Picture, Best Director (David Fincher), Best Actor in a Leading Role (Gary Oldman) and Best Actress in a Supporting Role (Amanda Seyfried). That

Netflix’s original films received 35 Oscar nominations this year, once again putting the streaming service ahead of ahead of any other Hollywood studios.

“Mank” led the pack with 10 nominations, including Best Picture, Best Director (David Fincher), Best Actor in a Leading Role (Gary Oldman) and Best Actress in a Supporting Role (Amanda Seyfried). That doesn’t necessarily make it a shoo-in to be Netflix’s first Best Picture winner, however — it’s worth remembering that in 2019, the streamer’s film “Roma” received 10 nominations as well, ultimately winning three awards but not Best Picture. And last year, “The Irishman” went empty-handed despite its 10 noms.

Besides “Mank,” Netflix’s “The Trial of the Chicago 7” received six nominations, including Best Picture and Best Actor in a Supporting Role (Sacha Baron Cohen). And “Crip Camp,” a film from the Obamas’ production company Higher Ground, is nominated for Best Documentary Feature, as is “My Octopus Teacher.”

Amazon, meanwhile, received 12 nominations, with six for “Sound of Metal” (including Best Picture). “Borat Subsequent Moviefilm: Delivery of Prodigious Bribe to American Regime for Make Benefit Once Glorious Nation of Kazakhstan,” “One Night in Miami” and “Time” were nominated as well. And Apple received its first two nominations ever, for “Wolfwalkers” (Best Animated Feature) and “Greyhound” (Best Sound).

Of course, this is a streaming-centric year for movies overall. With the COVID-19 pandemic forcing theaters to close across the world, the Oscars temporarily abandoned their requirement that films screen commercially in theaters in order to qualify for wards.

And it’s probably safe to assume that most viewers (Academy members and otherwise) watched these movies via streaming. For example, Best Picture nominee and Golden Globe winner for Best Drama Film winner “Nomadland” was released by Fox Searchlight simultaneously in theaters and on Hulu.

The Academy Awards will air on April 25 at 5pm Pacific on ABC.

News: Relativity Space lands first Department of Defense launch contract

• March 15, 2021
• by:   
• in:  Blog 
• note:  no comments 

Relativity Space already has a significant volume of launch contracts on the books – more pre-sales for its Terran 1 rocket than any other launch vehicle in history, in fact, according to CEO and co-founder Tim Ellis. But its latest customer is a key one: The U.S. Department of Defense, which has contracted Relativity Space

Relativity Space already has a significant volume of launch contracts on the books – more pre-sales for its Terran 1 rocket than any other launch vehicle in history, in fact, according to CEO and co-founder Tim Ellis. But its latest customer is a key one: The U.S. Department of Defense, which has contracted Relativity Space to launch a payload on its behalf as part of the Defense Innovation Unit (DIU)’s continued efforts to find responsive launch partners capable of sending payloads with a mass between 450 kg and 1,200 kg (roughly 1,000 to 2,650 lbs) to low-Earth orbit.

“It’s a bigger satellite, and there’s a much limited number of companies that can actually launch this spacecraft,” Ellis said in an interview. “[Terran 1’s] three meter payload fairing is unique, among all the US=based companies that can actually launch that payload size, we’re still the only one that actually has the fairing big enough for that scale.”

The DIU has a specific mandate of working with innovative American companies, typically in the earlier stages of their development, and their collaboration is often seen as a stamp of approval that can set up a company for a much deeper DoD relationship going forward. In this case, citing Relativity’s relative maturity and its queue of pre-sold missions, which include a number of non-defense government contracts.

“In this case, there was just a true mission need for this particular spacecraft,” Ellis said. “And it was a good opportunity to work with them as our first DoD customer, to start on-ramping into a broader ecosystem of capabilities that we’re hearing the government wants to see. So it’s all specifically focused on Terran 1, though of course, we now have talked about Terran R, totally independent of this program. It’s a start of a conversation, and we see lots of opportunities to help support national interests across many different places with all the things that we’re building.”

Ellis is referencing Relativity’s newly-unveiled larger payload spacecraft, the Terran R. The 3D printing rocket company debuted its plans for the much larger launch vehicle in February, and it’s tailor-made for delivering satellite constellations to low-Earth orbit – a need that the DoD has expressed plenty of interest in, given its focus on satellite technologies that offer responsive, redundant capabilities to suit shifting needs.

Early Stage is the premier ‘how-to’ event for startup entrepreneurs and investors. You’ll hear first-hand how some of the most successful founders and VCs build their businesses, raise money and manage their portfolios. We’ll cover every aspect of company-building: Fundraising, recruiting, sales, product market fit, PR, marketing and brand building. Each session also has audience participation built-in – there’s ample time included for audience questions and discussion. Use code “TCARTICLE at checkout to get 20 percent off tickets right here.

News: Stripe’s epic new valuation and the value-capture gap between public and private markets

• March 15, 2021
• by:   
• in:  Blog 
• note:  no comments 

Let’s examine the company’s newly-shared growth results, compare them to what we knew previously, and see if we can suss out why Stripe could be worth $95 billion today, and presumably more when it does float.

Well, it happened.

Over the weekend, Stripe announced the closure of its widely reported new round of capital. The $600 million round values the payments and banking software company at $95 billion, near the top end of the valuation range at which the company was said to be raising funds back in November 2020.

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

Sadly, despite being bigger than most public companies in revenue terms, and now in possession of a valuation on a par with some of the world’s leading public companies, Stripe is still being coy with growth metrics. As part of its announcement, Stripe provided a few new notes on its recent scale that we’ll unpack, but we’re more left to read the entrails of a modest metrics sacrifice at this stage of the company’s growth.

But what is The Exchange for, except to dig into the numbers, no matter how vague?

Today, let’s examine the company’s newly shared growth results, compare them to what we knew previously, and see if we can suss out why Stripe could be worth $95 billion today, and presumably more when it does float.

New money, same questions

Stripe’s new $600 million investment values the company at $95 billion. As a reference point, Roblox is worth around $38 billion and closed 2020 out on a run rate of around $1.24 billion.

Gaming companies and payments companies are very different, but Roblox’s number gives you a taste of what a company needs to generate in revenue terms in one part of the public markets.

Stripe is likely far larger than Roblox in revenue, but weaker in terms of gross margins. Keep that lens in mind as we remind ourselves of Stripe’s known numbers, ending with what we learned from its latest disclosures:

News: Airtable is now valued at $5.77B with a fresh $270 million in Series E funding

• March 15, 2021
• by:   
• in:  Blog 
• note:  no comments 

Airtable, the no-code relational database that has amassed a customer base that spans 250,000 different organizations, has today announced the close of a $270 million in series E funding. The valuation comes out to $5.77 billion post-money, more than doubling its valuation from September, when it raised $185 million in Series D funding. This latest

Airtable, the no-code relational database that has amassed a customer base that spans 250,000 different organizations, has today announced the close of a $270 million in series E funding. The valuation comes out to $5.77 billion post-money, more than doubling its valuation from September, when it raised $185 million in Series D funding.

This latest round was led by Greenoaks Capital, with participation from WndrCo, as well as existing investors Caffeinated Capital, CRV, and Thrive.

The company says it plans to use the funding to accelerate the development of its enterprise product and growing the team. Also of note: Founder and CEO Howie Liu told Forbes that he was approached by Greenoaks, rather than actively seeking funding.

Airtable is a relational database that many describe as a souped up version of Excel or Google Sheets. Being such, and having the infrastructure to support an app ecosystem on top of that, means that this no-code tool can actually be used to write software. In other words, the use cases are nearly infinite, and so is the potential customer base.

Greenoaks Capital partner Neil Mehta basically said as much in the press release:

We believe Airtable is chasing a massive opportunity to become the ‘residual’ software platform for every bespoke and custom use case that is either performed manually today or structurally underserved by rigid third-party software. By equipping business users with fundamental software primitives that can be assembled together into powerful business applications, Airtable has become central to its users’ everyday workflows but at the same time is scalable and extensible enough to support incredibly complex enterprise use cases like ticketing, content management, and CRM.

Airtable has raised a total of $617 million since inception, according to Crunchbase.

Early Stage is the premier ‘how-to’ event for startup entrepreneurs and investors. You’ll hear first-hand how some of the most successful founders and VCs build their businesses, raise money and manage their portfolios. We’ll cover every aspect of company-building: Fundraising, recruiting, sales, product market fit, PR, marketing and brand building. Each session also has audience participation built-in – there’s ample time included for audience questions and discussion. Use code “TCARTICLE” at checkout to get 20 percent off tickets right here.