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Uber’s losses top $1 billion, trumping better than expected revenues

Better than expected revenues couldn’t divert investor attention from the fact that Uber still managed to lose more than $1 billion in the most recent quarter as the company’s stock fell in after-hours trading.

There are bright spots in the latest earnings report, not least that the company managed to stanch the bleeding that had cost the company over $5 billion in the previous quarter.

Revenue grew to $3.8 billion, up from $2.9 billion in the year-ago period, representing a 30% boost. But even as Uber’s core business shows signs of stabilizing and its core markets continue to show growth, its other business units appear to be hemorrhaging cash at increasingly high rates.

“Our results this quarter decisively demonstrate the growing profitability of our Rides segment,” said Dara Khosrowshahi, the company’s chief executive, in a statement. “Rides Adjusted EBITDA is up 52% year-over-year and now more than covers our corporate overhead. Revenue growth and take rates in our Eats business also accelerated nicely. We’re pleased to see the impact that continued category leadership, greater financial discipline, and an industry-wide shift towards healthier growth are already having on our financial performance.”

Losses in earnings at the company’s Uber Eats business grew 67% to $316 million from $189 million in the year-ago period. And performance in the company’s freight division looks even worse. Losses in freight ballooned by 161%, growing to $81 million from $31 million in the same quarter of 2018.

Also contributing to the company’s losses for the quarter were stock-based compensation expenses, which added another $401 million to the tallies against the company.

Given that the lock-up period is about to end for institutional investors, that could spell even more trouble for the company — as institutional investors who bought into the company before its public offering may look to sell.

That said, Uber has taken a number of steps to correct its course and put the company on a path to profitability, which Khosrowshahi says should happen in the next two years.

In October, the company announced the last of three rounds of sweeping layoffs at the company that saw 1,185 staffers lose their jobs. Khosrowshahi called the layoffs a chance to ensure that the company was “structured for success for the next few years.” In an email to staff, he wrote, “This has resulted in difficult but necessary changes to ensure we have the right people in the right roles in the right locations, and that we’re always holding ourselves accountable to top performance.”

With the layoffs behind it, Uber can now focus on some of the big operational challenges it had set for itself through the reorganization that the company has announced. That includes adding new features and technologies to its Uber Eats delivery program (despite what recent losses at GrubHub may imply about the food delivery business) and pressing forward with another darling of the tech set these days — the company’s financial services platform.

The launch of this new platform, coupled with a slew of announcements from the company in September, show that Uber may have dialed back on its ambitions, but not by much. As Khosrowshahi said at the event, “We want to be the operating system for your everyday life…. A one-click gateway to everything that Uber can offer you.”

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Workday to acquire online procurement platform Scout RFP for $540M

Workday announced this afternoon that it has entered into an agreement to acquire online procurement platform Scout RFP for $540 million. The company raised more than $60 million on a post valuation of $184.5 million, according to PitchBook data.

The acquisition builds on top of Workday’s existing procurement solutions, Workday Procurement and Workday Inventory, but Workday chief product product officer Petros Dermetzis wrote in a blog post announcing the deal that Scout gives the company a more complete solution for customers.

“With increased importance around the supplier as a strategic asset, the acquisition of Scout RFP will help accelerate Workday’s ability to deliver a comprehensive source-to-pay solution with a best-in-class strategic sourcing offering, elevating the office of procurement in strategic importance and transforming the procurement function,” he wrote.

Ray Wang, founder and principal analyst at Constellation Research says that Workday has been trying to be the end-to-end cloud back office player. In spite of their own offerings in this area, he says, “One of their big gaps has been in procurement.”

Wang says that Workday has been investing with eye toward filling gaps in the product set for some time. In fact, Workday Ventures has been an investor in Scout RFP since 2018, and it’s also an official Workday partner.

“A lot of the Workday investments are in portfolio companies that are complimentary to Workday’s larger vision of the future of Cloud ERP. Today’s definition of ERP includes finance, HCM (human capital management), projects, procurement, supply chai and asset management, Wang told TechCrunch

As the Scout RFP founders stated in a blog post about today’s announcement, the two companies have worked well together and a deal made sense. “Working closely with the Workday team, we realized how similar our companies’ beliefs and values are. Both companies put user experience at the center of product focus and are committed to customer satisfaction, employee engagement and overall business impact. It was not surprising how easy it was to work together and how quickly we saw success partnering on go-to-market activities. From a culture standpoint, it just worked,” they wrote. A deal eventually came together as a result.

Scout RFP is a fairly substantial business, with 240 customers in 155 countries. There are 300,000 users on the platform, according to data supplied by the company. The company’s 160 employees will be moving to Workday when the deal closes, which is expected by the end of January, pending standard regulatory review.

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The 7 most important announcements from Microsoft Ignite

It’s Microsoft Ignite this week, the company’s premier event for IT professionals and decision-makers. But it’s not just about new tools for role-based access. Ignite is also very much a forward-looking conference that keeps the changing role of IT in mind. And while there isn’t a lot of consumer news at the event, the company does tend to make a few announcements for developers, as well.

This year’s Ignite was especially news-heavy. Ahead of the event, the company provided journalists and analysts with an 87-page document that lists all of the news items. If I counted correctly, there were about 175 separate announcements. Here are the top seven you really need to know about.

Azure Arc: you can now use Azure to manage resources anywhere, including on AWS and Google Cloud

What was announced: Microsoft was among the first of the big cloud vendors to bet big on hybrid deployments. With Arc, the company is taking this a step further. It will let enterprises use Azure to manage their resources across clouds — including those of competitors like AWS and Google Cloud. It’ll work for Windows and Linux Servers, as well as Kubernetes clusters, and also allows users to take some limited Azure data services with them to these platforms.

Why it matters: With Azure Stack, Microsoft already allowed businesses to bring many of Azure’s capabilities into their own data centers. But because it’s basically a local version of Azure, it only worked on a limited set of hardware. Arc doesn’t bring all of the Azure Services, but it gives enterprises a single platform to manage all of their resources across the large clouds and their own data centers. Virtually every major enterprise uses multiple clouds. Managing those environments is hard. So if that’s the case, Microsoft is essentially saying, let’s give them a tool to do so — and keep them in the Azure ecosystem. In many ways, that’s similar to Google’s Anthos, yet with an obvious Microsoft flavor, less reliance on Kubernetes and without the managed services piece.

Microsoft launches Project Cortex, a knowledge network for your company

What was announced: Project Cortex creates a knowledge network for your company. It uses machine learning to analyze all of the documents and contracts in your various repositories — including those of third-party partners — and then surfaces them in Microsoft apps like Outlook, Teams and its Office apps when appropriate. It’s the company’s first new commercial service since the launch of Teams.

Why it matters: Enterprises these days generate tons of documents and data, but it’s often spread across numerous repositories and is hard to find. With this new knowledge network, the company aims to surface this information proactively, but it also looks at who the people are who work on them and tries to help you find the subject matter experts when you’re working on a document about a given subject, for example.

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Microsoft launched Endpoint Manager to modernize device management

What was announced: Microsoft is combining its ConfigMgr and Intune services that allow enterprises to manage the PCs, laptops, phones and tablets they issue to their employees under the Endpoint Manager brand. With that, it’s also launching a number of tools and recommendations to help companies modernize their deployment strategies. ConfigMgr users will now also get a license to Intune to allow them to move to cloud-based management.

Why it matters: In this world of BYOD, where every employee uses multiple devices, as well as constant attacks against employee machines, effectively managing these devices has become challenging for most IT departments. They often use a mix of different tools (ConfigMgr for PCs, for example, and Intune for cloud-based management of phones). Now, they can get a single view of their deployments with the Endpoint Manager, which Microsoft CEO Satya Nadella described as one of the most important announcements of the event, and ConfigMgr users will get an easy path to move to cloud-based device management thanks to the Intune license they now have access to.

Microsoft’s Chromium-based Edge browser gets new privacy features, will be generally available January 15

What was announced: Microsoft’s Chromium-based version of Edge will be generally available on January 15. The release candidate is available now. That’s the culmination of a lot of work from the Edge team, and, with today’s release, the company is also adding a number of new privacy features to Edge that, in combination with Bing, offers some capabilities that some of Microsoft’s rivals can’t yet match, thanks to its newly enhanced InPrivate browsing mode.

Why it matters: Browsers are interesting again. After years of focusing on speed, the new focus is now privacy, and that’s giving Microsoft a chance to gain users back from Chrome (though maybe not Firefox). At Ignite, Microsoft also stressed that Edge’s business users will get to benefit from a deep integration with its updated Bing engine, which can now surface business documents, too.

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You can now try Microsoft’s web-based version of Visual Studio

What was announced: At Build earlier this year, Microsoft announced that it would soon launch a web-based version of its Visual Studio development environment, based on the work it did on the free Visual Studio Code editor. This experience, with deep integrations into the Microsoft-owned GitHub, is now live in a preview.

Why it matters: Microsoft has long said that it wants to meet developers where they are. While Visual Studio Online isn’t likely to replace the desktop-based IDE for most developers, it’s an easy way for them to make quick changes to code that lives in GitHub, for example, without having to set up their IDE locally. As long as they have a browser, developers will be able to get their work done..

Microsoft launches Power Virtual Agents, its no-code bot builder

What was announced: Power Virtual Agents is Microsoft’s new no-code/low-code tool for building chatbots. It leverages a lot of Azure’s machine learning smarts to let you create a chatbot with the help of a visual interface. In case you outgrow that and want to get to the actual code, you can always do so, too.

Why it matters: Chatbots aren’t exactly at the top of the hype cycle, but they do have lots of legitimate uses. Microsoft argues that a lot of early efforts were hampered by the fact that the developers were far removed from the user. With a visual too, though, anybody can come in and build a chatbot — and a lot of those builders will have a far better understanding of what their users are looking for than a developer who is far removed from that business group.

Cortana wants to be your personal executive assistant and read your emails to you, too

What was announced: Cortana lives — and it now also has a male voice. But more importantly, Microsoft launched a few new focused Cortana-based experiences that show how the company is focusing on its voice assistant as a tool for productivity. In Outlook on iOS (with Android coming later), Cortana can now read you a summary of what’s in your inbox — and you can have a chat with it to flag emails, delete them or dictate answers. Cortana can now also send you a daily summary of your calendar appointments, important emails that need answers and suggest focus time for you to get actual work done that’s not email.

Why it matters: In this world of competing assistants, Microsoft is very much betting on productivity. Cortana didn’t work out as a consumer product, but the company believes there is a large (and lucrative) niche for an assistant that helps you get work done. Because Microsoft doesn’t have a lot of consumer data, but does have lots of data about your work, that’s probably a smart move.

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SAN FRANCISCO, CA – APRIL 02: Microsoft CEO Satya Nadella walks in front of the new Cortana logo as he delivers a keynote address during the 2014 Microsoft Build developer conference on April 2, 2014 in San Francisco, California (Photo by Justin Sullivan/Getty Images)

Bonus: Microsoft agrees with you and thinks meetings are broken — and often it’s the broken meeting room that makes meetings even harder. To battle this, the company today launched Managed Meeting Rooms, which for $50 per room/month lets you delegate to Microsoft the monitoring and management of the technical infrastructure of your meeting rooms.

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CTO.ai’s developer shortcuts eliminate coding busywork

There’s too much hype about mythical “10X developers.” Everyone’s desperate to hire these “ninja rockstars.” In reality, it’s smarter to find ways of deleting annoying chores for the coders you already have. That’s where CTO.ai comes in.

Emerging from stealth today, CTO.ai lets developers build and borrow DevOps shortcuts. These automate long series of steps they usually have to do manually, thanks to integrations with GitHub, AWS, Slack and more. CTO.ai claims it can turn a days-long process like setting up a Kubernetes cluster into a 15-minute task even sales people can handle. The startup offers both a platform for engineering and sharing shortcuts, and a service where it can custom build shortcuts for big customers.

What’s remarkable about CTO.ai is that amidst a frothy funding environment, the 60-person team quietly bootstrapped its way to profitability over the past two years. Why take funding when revenue was up 400% in 18 months? But after a chance meeting aboard a plane connected its high school dropout founder Kyle Campbell with Slack CEO Stewart Butterfield, CTO.ai just raised a $7.5 million seed round led by Slack Fund and Tiger Global.

“Building tools that streamline software development is really expensive for companies, especially when they need their developers focused on building features and shipping to customers,” Campbell tells me. The same way startups don’t build their own cloud infrastructure and just use AWS, or don’t build their own telecom APIs and just use Twilio, he wants CTO.ai to be the “easy button” for developer tools.

Teaching snakes to eat elephants

“I’ve been a software engineer since the age of 8,” Campbell recalls. In skate-punk attire with a snapback hat, the young man meeting me in a San Francisco Mission District cafe almost looked too chill to be a prolific coder. But that’s kind of the point. His startup makes being a developer more accessible.

After spending his 20s in software engineering groups in the Bay, Campbell started his own company, Retsly, that bridged developers to real estate listings. In 2014, it was acquired by property tech giant Zillow, where he worked for a few years.

That’s when he discovered the difficulty of building dev tools inside companies with other priorities. “It’s the equivalent of a snake swallowing an elephant,” he jokes. Yet given these tools determine how much time expensive engineers waste on tasks below their skill level, their absence can drag down big enterprises or keep startups from rising.

CTO.ai shrinks the elephant. For example, the busywork of creating a Kubernetes cluster such as having to the create EC2 instances, provision on those instances and then provision a master node gets slimmed down to just running a shortcut. Campbell writes that “tedious tasks like running reports can be reduced from 1,000 steps down to 10,” through standardization of workflows that turn confusing code essays into simple fill-in-the-blank and multiple-choice questions.

The CTO.ai platform offers a wide range of pre-made shortcuts that clients can piggyback on, or they can make and publish their own through a flexible JavaScript environment for the rest of their team or the whole community to use. Companies that need extra help can pay for its DevOps-as-a-Service and reliability offerings to get shortcuts made to solve their biggest problems while keeping everything running smoothly.

5(2X) = 10X

Campbell envisions a new way to create a 10X engineer that doesn’t depend on widely mocked advice on how to spot and capture them like trophy animals. Instead, he believes one developer can make five others 2X more efficient by building them shortcuts. And it doesn’t require indulging bad workplace or collaboration habits.

With the new funding that also comes from Yaletown Partners, Pallasite Ventures, Panache Ventures and Jonathan Bixby, CTO.ai wants to build deeper integrations with Slack so developers can run more commands right from the messaging app. The less coding required for use, the broader the set of employees that can use the startup’s tools. CTO.ai may also build a self-service tier to augment its seats, plus a complexity model for enterprise pricing.

Now it’s time to ramp up community outreach to drive adoption. CTO.ai recently released a podcast that saw 15,000 downloads in its first three weeks, and it’s planning some conference appearances. It also sees virality through its shortcut author pages, which, like GitHub profiles, let developers show off their contributions and find their next gig.

One risk is that GitHub or another core developer infrastructure provider could try to barge directly into CTO.ai’s business. Google already has Cloud Composer, while GitHub launched Actions last year. Campbell says its defense comes through neutrally integrating with everyone, thereby turning potential competitors into partners.

The funding firepower could help CTO.ai build a lead. With every company embracing software, employers battling to keep developers happy and teams looking to get more of their staff working with code, the startup sits at the intersection of some lucrative trends of technological empowerment.

“I have a three-year-old at home and I think about what it will be like when he comes into creating things online,” Campbell concludes. “We want to create an amazing future for software developers, introducing automation so they can focus on what makes them such an important aspect. Devs are defining society!”

[Image Credit: Disney/Pixar via WallHere Goodfon]

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Daily Crunch: Adobe launches Photoshop for iPad

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 9am Pacific, you can subscribe here.

1. Adobe Photoshop arrives on the iPad

Adobe has released Photoshop for the iPad, making good on an announcement that it made last October.

The tablet version of the popular photo-editing software is free to download, and includes a 30-day free trial. After that it’s $9.99 per month via in-app purchase, or you can get access as part of an Adobe Creative Cloud subscription.

2. Cortana wants to be your personal executive assistant and read your emails to you, too

At its Ignite conference, Microsoft announced a number of new features that help Cortana to become even more useful in your day-to-day work, all of which fit into the company’s overall vision of AI as a tool that is helpful and augments human intelligence.

3. Apple commits $2.5 billion to address California’s housing crisis and homelessness issues

The investment includes a $1 billion commitment to an affordable housing investment fund, $1 billion toward a first-time homebuyer mortgage assistance fund and $300 million in Apple-owned land that will be made available for affordable housing.

4. A startup just launched red wine to the International Space Station to age for 12 months

The wine isn’t being sent just to help the ISS astronauts relax. Instead, it’s part of an experiment that will study how the aging process for wine is affected by a microgravity, space-based environment.

5. Lemonade gets a nastygram from Deutsche Telekom over its use of magenta, says it will fight

Deutsche Telekom’s German lawyers have sent a letter to AI insurance startup Lemonade, demanding it cease using magenta — a color that appears across Lemonade’s logo and marketing material — globally.

6. Where tech companies should look to expand

Zillow’s Cheryl Young says the company has analyzed data to determine the best markets that provide fertile environments for startups or tech companies looking to put down stakes for their next office.

7. This week’s TechCrunch podcasts

On the latest episode of Equity, Alex and Kate discuss Sam Altman’s investment in Quill, a company that could eventually challenge Slack. And on Original Content, we review the Netflix series “Living with Yourself,” in which Paul Rudd plays two different versions of the same man.

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Volterra announces $50M investment to manage apps in hybrid environment

Volterra is an early-stage startup that has been quietly working on a comprehensive solution to help companies manage applications in hybrid environments. The company emerged from stealth today with a $50 million investment and a set of products.

Investors include Khosla Ventures and Mayfield, along with strategic investors M12 (Microsoft’s venture arm), Itochu Technology Ventures and Samsung NEXT. The company, which was founded in 2017, already has 100 employees and more than 30 customers.

What attracted these investors and customers is a full-stack solution that includes both hardware and software to manage applications in the cloud or on-prem. Volterra founder and CEO Ankur Singla says when he was at his previous company, Contrail Systems, which was acquired by Juniper Networks in 2012 for $176 million, he saw first-hand how large companies were struggling with the transition to hybrid.

“The big problem we saw was in building and operating applications that scale is a really hard problem. They were adopting multiple hybrid cloud strategies, and none of them solved the problem of unifying the application and the infrastructure layer, so that the application developers and DevOps teams don’t have to worry about that,” Singla explained.

He says the Volterra solution includes three main products — VoltStack​, VoltMesh and VoltConsole — to help solve this scaling and management problem. As Volterra describes the total solution, “Volterra has innovated a consistent, cloud-native environment that can be deployed across multiple public clouds and edge sites — a distributed cloud platform. Within this SaaS-based offering, Volterra integrates a broad range of services that have normally been siloed across many point products and network or cloud providers.” This includes not only the single management plane, but security, management and operations components.

Diagram: Volterra

The money has come over a couple of rounds, helping to build the solution to this point, and it required a complex combination of hardware and software to do it. They are hoping organizations that have been looking for a cloud-native approach to large-scale applications, such as industrial automation, will adopt this approach.

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TikTok expands its influence to third-party apps with new developer program & SDK

TikTok is looking to expand its influence by integrating with popular third-party video creation and editing apps. The company today announced a new TikTok for Developers program which will introduce tools for third-party app developers, including those that allow them to access TikTok’s creative offerings as well as push content from their apps to TikTok directly. The first of these tools is the new Share to TikTok SDK, which will let users edit videos in other apps then publish them from that app to TikTok.

One of the key launch partners for the new SDK is Adobe Premiere Rush, Adobe’s mobile app for video editing. With the new TikTok integration, Premiere Rush users can access video editing features like aspect ratio switching, transitions, color filters, time lapse and slo-mo, audio control and more, then share instantly to TikTok and other video destinations.

In addition to Adobe, the apps supporting the Share to TikTok SDK at launch also include looping video creator Plotaverse, AR app Fuse.it, gaming highlights recorder Medal, Momento GIF Maker, PicsArt and Enlight Videoleop.

For some of the smaller, single-purpose apps, being able to become a useful tool for the creator community can have an outsized impact on their growth and revenues. For example, Facetune’s maker Lightricks has built a profitable business across its suite of photo and video editing apps, including Enlight Videoleap, and has now raised a total of $205 million.

In addition to built-in sharing features, apps that integrate with the new TikTok SDK will also gain access to a wider selection of creative tools, says TikTok.

But the apps will benefit in another way, too — when creators share their videos, they’ll include the specified partner hashtag along with the content. This will help to give the app the ability to gain exposure among even more TikTok users.

“This new Share to TikTok feature enriches the content available on TikTok, diversifies the types of videos users can discover, and offers more editing choices for users to explore in addition to TikTok’s built-in creative tools,” explained TikTok, in an announcement. “Most importantly, it gives users multiple avenues to create new original, high-quality content using platforms with exciting creative tools,” the company said.

The TikTok for Developers program also includes tools to embed videos on the web, and offers developer documentation, demos and more. The program’s terms of service restricts developers from collecting users’ personal data or other nefarious activity, and threatens developers’ access could be removed if terms are violated.

The news follows reports that the U.S. government has opened a national security review of TikTok owner, Beijing-based ByteDance, specifically with regard to its $1 billion acquisition of U.S. app Musical.ly.

TikTok didn’t say what other plans its has in store for the developers program, only that it will continue to expand access to its own creative tools further across the wider app ecosystem.

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Robocorp announces $5.6M seed to bring open-source option to RPA

Robotic Process Automation (RPA) has been a hot commodity in recent years as it helps automate tedious manual workflows inside large organizations. Robocorp, a San Francisco startup, wants to bring open source and RPA together. Today it announced a $5.6 million seed investment.

Benchmark led the round, with participation from Slow Ventures, firstminute Capital, Bret Taylor (president and chief product officer at Salesforce) and Docker CEO Rob Bearden. In addition, Benchmark’s Peter Fenton will be joining the company’s board.

Robocorp co-founder and CEO Antti Karjalainen has been around open-source projects for years, and he saw an enterprise software category that was lacking in open-source options. “We actually have a unique angle on RPA, where we are introducing open source and cloud native technology into the market and focusing on developer-led technologies,” Karjalainen said.

He sees a market that’s top-down and focused on heavy sales cycles. He wants to bring the focus back to the developers who will be using the tools. “We are all about removing friction from developers. So, we are focused on giving developers tools that they like to use, and want to use for RPA, and doing it in an open-source model where the tools themselves are free to use,” he said.

The company is built on the open-source Robot Framework project, which was originally developed as an open-source software testing environment, but he sees RPA having a lot in common with testing, and his team has been able to take the project and apply it to RPA.

If you’re wondering how the company will make money, they are offering a cloud service to reduce the complexity even further of using the open-source tools, and that includes the kinds of features enterprises tend to demand from these projects, like security, identity and access management, and so forth.

Benchmark’s Peter Fenton, who has invested in several successful open-source startups, including JBoss, SpringSource and Elastic, sees RPA as an area that’s ripe for a developer-focused open-source option. “We’re living in the era of the developer, where cloud-native and open source provide the freedom to innovate without constraint. Robocorp’s RPA approach provides developers the cloud native, open-source tools to bring RPA into their organizations without the burdensome constraints of existing offerings,” Fenton said.

The company intends to use the money to add new employees and continue scaling the cloud product, while working to build the underlying open-source community.

While UIPath, a fast-growing startup with a hefty $7.1 billion valuation recently announced it was laying off 400 people, Gartner published a study in June showing that RPA is the fastest growing enterprise software category.

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New York’s ERA invests in esports org Gen.G

Esports are the Wild West right now. There’s clearly a huge potential for the industry to become incredibly lucrative, but everything from the infrastructure of competition to the overall culture isn’t quite ready for prime time.

This introduces a huge opportunity for the tech world to get in on the action. We’ve seen traditional VC money start to sniff around esports in ways big and small. Bessemer Venture Partners has invested in Team SoloMid, while Sequoia has invested in 100 Thieves.

Today, Gen.G has announced that it has accepted investment from the Entrepreneurs Roundtable Accelerator, a longstanding New York City-based accelerator program.

Gen.G started as KSV (Korea plus Silicon Valley) in mid-2017 with a debut in the Overwatch League. In 2018, after expanding to other games, including Heroes of the Storm, PUBG and League of Legends, KSV eSports rebranded to Generation Gaming (Gen.G) and launched a Clash Royale esports team.

At the end of 2018, Gen.G made yet another huge move. They lured Chris Park from his position as executive vice president in charge of product and marketing at Major League Baseball to join Gen.G as CEO.

Since then, Park has been thinking about the long-term opportunities for the esports org and the industry as a whole. He secured $46 million in funding from Los Angeles Clippers minority owner Dennis Wong, Will Smith’s Dreamers Fund, NEA, Battery Ventures, Canaan Partners, SVB Capital and Stanford University, among others.

And  he signed a partnership with dating app Bumble to create Team Bumble, an all-female professional Fortnite squad.

Gender inclusion is one of the biggest misses in the esports world right now. Data shows that 46% of gamers are female (ESA) and that nearly one in four esports viewers are female (Nielsen). Despite no physical differentiators between men and women, women are severely underrepresented in the esports world.

Not one female competed in the Fortnite World Cup in 2019, despite the fact that qualifiers were completely open to any player. A big reason for the disparity here is that the gaming community isn’t generally a safe environment for female gamers, in big and small ways. Many female gamers experience abuse while playing games, like this streamer, and it’s gotten bad enough to push a small percentage of female gamers away from playing entirely.

But exclusion comes in many forms. Ninja announced in August 2018 that he won’t be streaming with female gamers, which you can read about here.

Beyond general principles about equality, the female gamer is a lucrative demographic that has yet to be properly tapped by any particular esports org, publisher or otherwise. Gen.G is now ahead in the race to acquire female gamers as fans, customers and future talent.

Another forward-thinking move by Gen.G is its recent partnership with the University of Kentucky to help create and manage its esports program. We’ve seen startups like PlayVS look to build out the infrastructure and connective tissue that will eventually bind education and professional sports, as has been the case with traditional sports for generations. Gen.G is now tackling that ever-important bridge from academia to professional life by looking at universities.

The funding from ERA, the amount of which has not been disclosed, not only allows Gen.G to grow its foothold on the East Coast — it also gives the esports org a strategic partnership with ERA, which invests in super early-stage tech startups. As more founders tackle the mounting challenges in esports, Gen.G is now in a prime position to watch over those deals closely and potentially tap into some of the solutions and services sure to sprout up in the next five to 10 years.

“We are focused on ways to make it easier for people in the gaming community to connect,” said Park, hinting at some of the technology in which Gen.G is interested. “My hope is that over time, platforms as well as teams treat fans and athletes as more than just users, and more like collaborators and partners.”

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Adobe’s Photoshop Camera is an AI-powered photo editor for your phone

Instagram and Snapchat have changed the way people look at photo editing. What was once a task limited to those with wildly expensive tools and years of training has become accessible to anyone with a smartphone. These apps and their filters aren’t going to replace Photoshop for the pros… but for people just looking to upload a quick selfie to their story, they’re Good Enough™.

Adobe realizes this, and now they’re looking to flex a bit.

This morning the company announced Photoshop Camera, an AI-driven photo-editing app for iOS and Android. Take a picture (or grab one from your camera roll), and Photoshop Camera will near-instantly analyze it and offer up a drawer full of potential enhancements, from basics like shadows/highlight tweaks, to more complicated things like swapping out the sky in a complicated cityscape.

It recognizes what’s in the photo — be it food, people or distant mountains — and bubbles the most relevant “lenses” (think filters) up to the top. All lenses and effects are non-destructive, so you can quickly roll back any changes it makes.

Powering the AI is years and years of data. Adobe has hundreds of millions of photos in its stock photo collection, along with the data on which of these photos people tend to buy and use. Perhaps most importantly, they have the tooling data on how photo editors take a picture and get it from point A to point B.

I saw the app in action last week. While it’s tough to gauge how well something like this works in a quick demo, the results I saw were pretty astounding. It took a solid but basic landscape photo and made it look like something out of a nature magazine. It took a photo of food on a table and, in a split second, identified which parts of the photo were food and tweaked just those regions to make the colors shine.

Adobe tells me that it’s working with artists — Billy Eilish, for example — to create custom filters and lenses. Adobe CTO Abhay Parasnis also hinted to me at the possibility of limited-edition, region-locked lenses — like, say, those that only appear when you’re at a music festival or conference.

One catch: If you want to use the app anytime in 2019, you’ll have to get Adobe’s thumbs-up. It’s going to be in private “preview” mode until sometime in 2020, when it rolls out to everybody. You can sign up for the preview here.

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