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Autodesk agrees to buy PlanGrid for $875 million

Autodesk announced plans to acquire PlanGrid for $875 million today. The San Francisco startup helped move blueprints from paper to the iPad when it launched in 2011.

This digitization of construction fits with Autodesk’s vision of digitizing design in general, and CEO Andrew Anagnost certainly recognized the transformational potential of the company he was buying. “There is a huge opportunity to streamline all aspects of construction through digitization and automation. The acquisition of PlanGrid will accelerate our efforts to improve construction workflows for every stakeholder in the construction process,” he said in a statement.

The company, which is a 2012 graduate of Y Combinator, raised just $69 million, so this appears to be a healthy exit for the them. PlanGrid took what was a paper-intensive task and shifted it to digital, taking a world of hand-written mark-ups and sticky notes onto the fledgling iPad.

In an interview with CEO and co-founder Tracy Young in 2015 at TechCrunch Disrupt in San Francisco, she said the industry was ripe for change. “The heart of construction is just a lot of construction blueprints information. It’s all tracked on paper right now and they’re constantly, constantly changing,” Young said at the time.

Those manual changes often resulted in errors she said, and that was costly for the contractors. As an engineer working for a construction company, who was at one time responsible for making the paper copies, she recognized that the process could be improved by moving it into the digital realm.

PlanGrid CEO Tracy Young onstage at TechCrunch Disrupt San Francisco in 2015

Her idea, which was kind of radical in 2011 when she started the company, was to move all that paper to the cloud and display it on an iPad. It’s important to remember that the enterprise was not rushing to the cloud in 2011, and most people considered the iPad at the time to be a consumer device, so what she and her co-founders were attempting was a true kind of industry transformation.

Young sees joining Autodesk as a way to continue building on that early vision. “PlanGrid has excelled at building beautiful, simple field collaboration software, while Autodesk has focused on connecting design to construction. Together, we can drive greater productivity and predictability on the jobsite,” she said in a statement.

PlanGrid currently has 400 employees, 12,000 customers and 120,000 paid users, and has been used on over a million construction projects worldwide, according to data provided by the companies. They believe that under Autodesk’s umbrella and combined with their existing product set, they can provide a complete construction solution and grow the business faster than PlanGrid could have on its own — pretty much the standard argument in an acquisition like this.

PlanGrid was efficient with the money it took. In fact the last raise was $40 million almost exactly three years ago. The deal is expected to close at the end of January pending the normal regulatory approval process.

 

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LinkedIn launches its own Snapchat Stories: ‘Student Voices’

The social media singularity continues with the arrival of Snapchat Stories-style slideshows on LinkedIn as the app grasps for relevance with a younger audience. LinkedIn confirms to TechCrunch that it plans to build Stories for more sets of users, but first it’s launching “Student Voices” just for university students in the U.S. The feature appears atop the LinkedIn home screen and lets students post short videos to their Campus Playlist. The videos (no photos allowed) disappear from the playlist after a week while staying permanently visible on a user’s own profile in the Recent Activity section. Students can tap through their school’s own slideshow and watch the Campus Playlists of nearby universities.

LinkedIn now confirms the feature is in testing, with product manager Isha Patel telling TechCrunch “Campus playlists are a new video feature that we’re currently rolling out to college students in the US. As we know, students love to use video to capture moments so we’ve created this new product to help them connect with one another around shared experiences on campus to help create a sense of community.” Student Voices was first spotted by social consultant Carlos Gil, and tipped by Socially Contented’s Cathy Wassell to Matt Navarra.

A LinkedIn spokesperson tells us the motive behind the feature is to get students sharing their academic experiences like internships, career fairs and class projects that they’d want to show off to recruiters as part of their personal brand. “It’s a great way for students to build out their profile and have this authentic content that shows who they are and what their academic and professional experiences have been. Having these videos live on their profile can help students grow their network, prepare for life after graduation, and help potential employers learn more about them,” Patel says.

But unfortunately that ignores the fact that Stories were originally invented for broadcasting off-the-cuff moments that disappear so you DON’T have to worry about their impact on your reputation. That dissonance might confuse users, discourage them from posting to Student Voices or lead them to assume their clips will disappear from their profile too — which could leave embarrassing content exposed to hirers. “Authenticity” might not necessarily paint users in the best light to recruiters, so it seems more likely that students would post polished clips promoting their achievements… if they use it at all.

LinkedIn seems to be desperate to appeal to the next generation. Social app investigator and TechCrunch’s favorite tipster Jane Manchun Wong today spotted 10 minor new features LinkedIn is prototyping that include youth-centric options like GIF comments, location sharing in messages and Facebook Reactions-style buttons beyond “Like” such as “Clap,” “Insightful,” “Hmm,” and “Support.”

When users post to Student Stories, they’ll have their university’s logo overlaid as a sticker they can move around. LinkedIn will generate this plus a set of suggested hashtags like #OnCampus based on a user’s profile, including which school they say they attend, though users can also overlay their own text captions. Typically, users in the test phase were sharing videos of around 30 to 45 seconds. “Students are taking us to their school hackathons, showing us their group projects, sharing their student group activities and teaching us about causes they care about,” Patel explains. You can see an example video here, and watch a sizzle reel about the feature below.

For now, LinkedIn tells me it has no plans to insert ads between clips in Student Voices. But if the Stories content assists with discovering and vetting job candidates, it could make LinkedIn more unique and indispensable to recruiters who do pay for premium access. And if these Stories get a ton of views simply by being emblazoned atop the LinkedIn feed, users might return to the app more frequently to share them. As we’ve seen with the steady increase in popularity of Facebook Stories, if you give people a stage for narcissism, they will fill it.

LinkedIn’s start as a dry web tool for seeking jobs has made for a rocky transition as it tries to become a daily habit for users. Some tactical advice in its feed can be helpful, but much of LinkedIn’s content feels blatantly self-promotional, boring or transactional. Meanwhile, it’s encountering new competition as Facebook integrates career listings and job applications for blue-collar work into its social network that already sees over a billion people visit each day. It’s understandable why LinkedIn would try to latch on to the visual communication trend, as Facebook estimates Stories sharing will surpass feed sharing across all apps in 2019. But Student Voices nonetheless feels unabashedly “how do you do, fellow kids?”

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Facebook is finally rolling out its ‘how long do I spend on Facebook’ dashboard

Fifteen weeks after Facebook announced its “Your Time on Facebook” tool that counts how many minutes you spend on the app, the feature is finally rolling out around the world. Designed to help you manage your social networking, the dashboard reveals how many minutes you’ve spent on Facebook’s app on that device each day for the past week and on average.

You can set a daily limit and receive a reminder to stop after that many minutes each day, plus access shortcuts to notification, News Feed and Friend Request settings. Those last two shortcuts are new, but otherwise the feature works the same as when it was previewed. You can access it by going to Facebook’s More tab -> Settings & Privacy -> Your Time on Facebook.

TechCrunch first broke the news that Facebook was working on the feature in June. Facebook gave some explanation for the delayed access to the feature, with spokespeople telling me “We typically roll out features slowly so we can catch bugs early and resolve them quickly. We slowed the rollout of the tools after launch so our teams could fix a few bugs before we expanded globally,” and that “the tools will continue rolling out over the next few weeks.” Social consultant Matt Navarra had spotted the tool reaching more users today.

With the launches of similar tools as part of the latest versions of iOS and Android, plus the roll out of the similar Your Activity tab on Instagram last week, digital well-being features are becoming available to a wide swath of smartphone users. The question is whether simply burying these features in the Settings menus is enough to actually get people to shift toward healthier behavior.

Facebook and Instagram’s versions are particularly toothless. There are no options to force you to ease off your usage, just a quick daily limit notification to dismiss. iOS 12’s Screen Time at least delivers a weekly usage report by default so the feature finds you even if you don’t go looking for it. And Android’s new Digital Wellbeing dashboard is by far the most powerful, graying out app icons and requiring you to dig into your settings to unlock apps once you hit your daily limit. Facebook doesn’t necessarily need to force heavier restrictions on us, but it should at least provide more compelling optional tools to actually make us put our phones down and look up at the real world.

Facebook’s dashboard doesn’t integrate with Instagram’s, which would give people a more holistic sense of their activity on the social networks. You also won’t have your desktop Facebooking or time on secondary mobile devices like tablets tabulated here either.

But the biggest flaw remains that Your Time on Facebook treats all time the same. That seems to ignore the research Facebook itself has presented about digital well-being on social networks, as well as CEO Mark Zuckerberg’s comments on what constitutes healthy and unhealthy behavior. Zuckerberg said on the Q1 2018 earnings call “the well-being research that we’ve done . . . suggests that when people use the internet for interacting with people and building relationships, that is correlated with all the positive measures of well-being that you’d expect — like longer term health and happiness, feeling more connected and less lonely – whereas just passively consuming content is not necessarily positive on those dimensions.”

Yet you can’t tell active and passive Facebooking apart from the dashboard. There’s no way to see a breakdown of how long you spend browsing the News Feed, watching Stories or exploring photos on profiles versus creating posts or comments, messaging or interacting in Groups. That segmentation would give users a much clearer view of where they’re spending or wasting hours, and what they could do to make their usage healthier. Hopefully with time, Facebook gives the dashboard more nuance so we can track not just time, but time well spent.

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Valve is discontinuing the Steam Link, at least the hardware part

Valve has quietly updated the Steam page for the Steam Link. The message says that Valve is discontinuing the Steam Link. The device will become unavailable once all units have been sold.

When Valve introduced the Steam Link in 2015, your TV setup was completely different. Google, Amazon and Apple had just released Android TV, the Fire TV and tvOS. Smart TVs weren’t so smart. In other words, you had no way to install an app and run it on your TV.

The Steam Link was a tiny box with an HDMI port, USB ports, an Ethernet port, Wi-Fi, Bluetooth and more. It could only do one thing — you could connect the Steam Link to a Steam client running on a powerful computer and play games on a different screen. Even before the Nintendo Switch, companies were thinking about ways to play the same game in multiple ways.

And if you were wondering why the Steam Link has yet to receive an update, you now have the answer. The company is switching to a software strategy.

“The supply of physical Steam Link hardware devices is sold out. Moving forward, Valve intends to continue supporting the existing Steam Link hardware as well as distribution of the software versions of Steam Link, available for many leading smart phones, tablets and televisions,” the company says on the store page.

You can still find devices on third-party retailers, but they’ll soon be all gone.

Going forward, you’ll be able to install the Steam Link app on your phone or Android TV device (including on the Fire TV if you side-load the app). You can then launch a Steam game on your PC and play it on your TV.

Unfortunately, Apple currently refuses to allow the Steam Link app on the App Store. I really hope that Apple is going to change its mind because it would be a pretty good gaming and entertainment system.

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With investors knocking, PlayVS opens the door to a $30M Series B

PlayVS, the company bringing esports infrastructure to high schools across the country, has today announced the close of a $30.5 million Series B financing. The round was led by Elysian Park Ventures, the investment arm of the L.A. Dodgers, with participation from five existing investors, including New Enterprise Associates, Science Inc., Crosscut Ventures, Coatue Management and WndrCo.

New investors also joined in on the round, including Adidas (the company’s first esports investment), Samsung NEXT, Plexo Capital, as well as angel investors such as Sean “Diddy” Combs, David Drummond, DST Global partner Rahul Mehta, Michael Dubin and others.

It’s certainly worth noting that PlayVS raised a $15 million Series A just six short months ago. Founder and CEO Delane Parnell explained that this Series B was an opportunistic raise, as the company received a lot of inbound from investors to get a slice of the next round.

“This gives us much more stability and runway so that we can hire more senior employees and leadership,” said Parnell. “It also gives us a bit of a war chest to let the team go out and work their strategies.”

Alongside the raise, PlayVS also announced new game partnerships, bringing Rocket League and SMITE into the company’s portfolio. Rocket League and SMITE join League of Legends, which was added to the platform two months ago.

PlayVS launched early this year with a relatively novel approach to the esports world. Instead of focusing on the current esports space, PlayVS realized there was a huge opportunity to bring infrastructure to the esports landscape in high school. As more and more esports careers are created through investment by colleges (via scholarships) and esports orgs, PlayVS gives students a place to show off their skills and get in front of recruiters.

The first step in the process was establishing a partnership between PlayVS and the NHFS, which is essentially the NCAA of high school sports. Through that partnership, PlayVS handles team schedules, district league schedules, coaching clinics and referees, and sets up an in-person live spectator event for the State Championship at the end of the year.

Right now, the company is in the midst of its Season Zero, testing out the platform with a small number of states — Connecticut, Georgia, Kentucky, Massachusetts and Rhode Island — in preparation for the official Inaugural Season, which will begin in 2019. Today, PlayVS is adding Alabama (AHSAA), Mississippi (MISSHSAA) and parts of Texas (TCSAAL).

But the growth of the company is largely dependent on states and school districts, which is why PlayVS is announcing the launch of Club Leagues. Club Leagues is identical to the PlayVS sports league product, except there is no State Championship at the end. Still, students who do not yet have access to the official PlayVS sports league can create teams, join up and play matches.

Eventually, Parnell says, the company will phase out Club Leagues as soon as official sports leagues are available to those players.

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Xiaomi gobbles up selfie phone brand Meitu as revenue jumps 49%

Xiaomi is diversifying into a new range of phones as the Chinese smartphone maker announced impressive growth with its latest financials.

The company announced it will take over selfie app maker Meitu’s smartphone business to go after new demographics, particularly women, while it lodged impressive 49 percent revenue growth in Q3.

Xiaomi posted a net profit of 2.481 billion RMB ($357 million) for the quarter on total sales of 50.846 billion RMB ($7.3 billion). The bulk of that income came from smartphones sales — 35 billion RMB, $5 billion — as Xiaomi surpassed its annual target of 100 million shipments with two months of the year still to go. The majority of those phones are sold in China, but the company said that international revenue overall was up by 113 percent year-on-year.

The company has ventured into Europe this year, with its most recent launch in the U.K. this month, but now it is taking aim at a more diverse set of customers in the Chinese market through this tie-in with Meitu. Best known for its “beautification” selfie apps, Meitu also sells smartphones that tap its selfie brand with optimized cameras and advanced editing features.

Now Xiaomi is taking over that business through a partnership that will see Meitu paid 10 percent of the profits for all devices sold, with a minimum guaranteed fee of $10 million per year. For other smart products, its cut increases to 15 percent.

Meitu is hardly a mainstream phone brand. Its first device launched in 2013 and has sold 3.5 million units to date. Recently, the company cut back on its hardware — it has launched just one device this year compared to five last year — while the average sell price of its devices has fallen, causing it to forecast a net loss of up to 1.2 billion RMB (or $173 million) up from just 197 million RMB last year. Shifting the heavy-lifting to Xiaomi makes a lot of sense — despite its total cut of sales dropping to just 10 percent, Xiaomi has impressive reach and a sales platform that already features third-party hardware.

Back to Xiaomi, these results are its first “true” financials since the company went public through a Hong Kong IPO back in July. It posted a $2.1 billion profit in the previous quarter but a large chunk of spending and revenue was down to the listing.

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iHeartMedia to acquire radio adtech company Jelli

Radio giant iHeartMedia announced today that it’s reached an agreement to acquire Jelli, a company bringing programmatic ad-buying to radio broadcasters.

In fact, iHeartMedia was already working with Jelli to allow businesses to use programmatic tools to buy advertising on the company’s 850 broadcast radio stations. iHeartMedia also invested in Jelli’s most recent funding round.

As a result of the deal, the Jelli team in Silicon Valley will become iHeartMedia’s main adtech operation, and it will still be led by CEO Michael Dougherty. At the same time, iHeartMedia says Expressway by Katz, the programmatic ad exchange created using Jelli technology, will be run independently by Katz Media Group.

In a statement, iHeartMedia CEO Bob Pittman said:

At iHeart we believe marketing is both math and magic. The math is our rich data and insights about our users and how they relate to our partners’ products and services — and the magic is the incredible creative ideas we bring to our partners, such as our iconic music events, award shows, influencers, podcasts, social reach and our unique on air promotions. Jelli allows us to do something no other company can do — advertisers can now buy and use our broadcast assets, reach and impact just as they use the major digital players. We now offer heavy data and heavy creative innovation all in one place.

The financial terms of the acquisition were not disclosed. Jelli’s other investors include Relay Ventures, Intel Capital, First Round Capital and Universal Music Group, and, according to Crunchbase, it raised more than $40 million total.

iHeartMedia, meanwhile, filed for bankruptcy in March, though it looks like it’s now preparing to leave Chapter 11 protection.

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Half-Life turns 20, and we all feel very old

The only thing that’s crazier than the fact that Half-Life was released exactly 20 years ago is that I wrote up its 10th anniversary on this very website… well, 10 years ago. We’ve both aged well, I like to think. But Half-Life has already left a legacy.

Half-Life was Valve’s first game, when they were a young game studio and not the giant gaming conglomerate we know them as today. The game was also a big risk — its narrative-heavy gameplay, including the now famous arrival-at-work intro sequence, was a departure from the generally simple shooters of the late ’90s.

At a time when most games were still level-based, Half-Life set forth a continuous (though still largely episodic) journey punctuated with setpiece encounters and more than a few terrifying moments. This story-centric, wide corridor approach would be immensely influential in game design, as would Half-Life’s scarily smart (for the time) enemy AI, particularly the soldiers sent to shut down the Black Mesa facility and everyone in it.

The tantalizing tastes of a larger story in which you were only one part — orchestrated by the still-mysterious G-Man — kept players on the hook through its expansions and eventually its masterful and sadly unfinished sequel.

The multiplayer, too, was a joy. I remember in particular long matches of robots versus scientists in Gasworks, and brutal close-quarters combat trying to escape the air raid in Crossfire. Then of course Team Fortress Classic and all that came after.

But it wasn’t just Half-Life itself that was influential. Valve’s success with this experiment drove it to make further forays into gaming infrastructure, leading to the creation of Steam — now, of course, the world’s leading PC gaming platform. Although there are arguments to be made now that Steam is stuck in the past in many ways, it’s hard to overestimate its effect on the gaming industry over the years.

I replayed the game a couple of years ago and it mostly holds up. The initial chapters are still compelling and creepy, and the action is still fun and frantic. The pacing isn’t so hot and of course the graphics aren’t so hot these days, and of course Xen is still a pain — but overall it’s easy to put yourself back in your ’90s shoes and remember how amazing this was back then.

If you’re thinking of replaying it, however, you might do yourself a favor and instead play Black Mesa, a full-on remake of the game with more modern graphics and a lot of quality of life changes. It’s still largely the same game, just not quite as 1998.

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Move over Le Creuset? A new cookware startup founded by and for millennials is getting down to business

Sometimes, it’s hard to imagine a product or industry that a new e-commerce startup hasn’t tried to remake already, from slippers to mattresses, from luggage to lipstick.

Yet two childhood friends in New York have seemingly struck on a fresh idea: taking on the stodgy and often expensive world of cookware, where one’s options out of college are usually limited to a few pieces of Calphalon or Farberware or, in the best-case scenario, some Le Creuset, the premium French cookware manufacturer founded back in 1925 and known for its vibrant colors, including Marseille, Cerise, and Soleil.

In fact, what the pair are building with their 10-month-old startup, Great Jones, appears to be a Le Creuset for the next generation: a handful of cookware items, including a cast-iron Dutch oven, that come in an array of colorful, if comparatively more muted, tones. Think Broccoli and Mustard.

The cookware is also more affordable than Le Creuset, which charges upward of $300 for a similar Dutch oven, compared with $145 for Great Jones’s new product. Notably, Great Jones’s full collection, which also includes a stainless steel stock pot, a stainless sauce pot, a stainless deep saute and a ceramic nonstick skillet, retails for $395.

Cookware is a smart sector to chase. According to the market consultancy IBIS World, the so-called “kitchen and cookware stores” industry has been growing steadily, reaching revenue of $17 billion last year.

One of the big questions for Great Jones will be whether its offerings hold up, and whether its customers find them compelling enough to recommend to others. After all, the old adage tends to hold up that you get what you pay for. And most new products take off because of favorable word of mouth, not merely because they’re Instagrammable.

Great Jones’s 28-year-old founders — Sierra Tishgart, previously a food editor at New York Magazine, and Maddy Moelis, who worked in customer insights and product management at a variety of e-commerce companies, including Warby Parker and Zola — seem to have thought these things through. Indeed, in a recent Forbes profile, they say they conducted extensive interviews with chefs and cookbook authors in their network in order to establish, for example, how to design a comfortable handle.

They also smartly made certain that their introductory offerings come in a range of metals. As even so-so cooks know, stainless steel is ideal for browning and braising; durable nonstick coatings make preparing delicate foods, including eggs and pancakes, less nightmarish.

In the meantime, Great Jones has easily captured the press’s imagination with what they are cooking up — a sign, perhaps, that the industry is ready for a refresh. In addition to Forbes, Great Jones also received recent coverage in The New York Times and Vogue — valuable real estate that most months-old startups can only dream of landing.

Great Jones has also raised outside funding already, including $2.75 million that it closed on last month led by venture capital firm General Catalyst, with participation from numerous individual investors.

Now the company just needs to convince its target demographic that it should ditch the older, established brands that may not feel particularly modern but are known to be durable, easy to clean, dishwasher safe and not insanely heavy (among the other things that keep people from throwing their pots in the garbage).

Great Jones also has plenty of newer competition to elbow out of the way if it’s going to succeed.

As the Times piece about the company notes, just a few of the other startups that are suddenly chasing the same opportunity include Potluck, a five-month-old, New York-based startup that sells a $270 “essentials bundle” that features 22 pieces, including utensils; Misen, a four-year-old, Brooklyn-based startup that sells cookware and chefs knives; and Milo, a year-old, L.A.-based startup that’s solely focused on Dutch ovens, to start.

According to Crunchbase, Misen has raised $2 million, including through a crowdfunding campaign; Milo has raised an undisclosed amount of seed funding.

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Today in brighter crypto news: SEC says tokens are securities

Crypto news got a little boost last week after a dark month of crashes, stablecoins and birthdays. The SEC ruled that two ICO issuers, CarrierEQ Inc. and Paragon Coin Inc., were in fact selling securities instead of so-called utility tokens.

“Both companies have agreed to return funds to harmed investors, register the tokens as securities, file periodic reports with the Commission, and pay penalties,” wrote Pamela Sawhney of the SEC. “These are the Commission’s first cases imposing civil penalties solely for ICO securities offering registration violations.”

From the release:

Airfox, a Boston-based startup, raised approximately $15 million worth of digital assets to finance its development of a token-denominated “ecosystem” starting with a mobile application that would allow users in emerging markets to earn tokens and exchange them for data by interacting with advertisements. Paragon, an online entity, raised approximately $12 million worth of digital assets to develop and implement its business plan to add blockchain technology to the cannabis industry and work toward legalization of cannabis. Neither Airfox nor Paragon registered their ICOs pursuant to the federal securities laws, nor did they qualify for an exemption to the registration requirements.

This behavior — a sort of “damn the torpedoes” for the fintech set — was all the rage at the beginning of the year as no clear guidance was available for filing security tokens — essentially pieces of company equity — versus utility tokens which were, in theory, used within the company ecosystem. In fact, ICOed companies contorted themselves into all sorts of knots to appear to fit their “utility token” within the torturous confines of securities law.

“We have made it clear that companies that issue securities through ICOs are required to comply with existing statutes and rules governing the registration of securities,” said Stephanie Avakian, co-director of the SEC’s Enforcement Division. “These cases tell those who are considering taking similar actions that we continue to be on the lookout for violations of the federal securities laws with respect to digital assets.”

The SEC fined both companies $250,000 each. Future ICOs, at least in the U.S., would do well to keep this in mind.

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