

After raising $37 million to bring its on-the-spot stock market analytics tools to a wider range of publishers and other internet partners, TradingView today has announced its first acquisition to supercharge the services that it offers to investors, wherever they happen to be online. The startup has acquired TradeIt, which has built an API for on-the-spot trading on any site that uses it.
The terms of deal were not disclosed, but we understand from sources close to the deal that it was under $20 million, more specifically in the “high teens.” TradeIt, which used to be called Trading Ticket, had raised about $12 million from investors that included Peter Thiel’s mostly-fintech fund Valar Ventures, Citi Ventures and others. TradingView had raised just over $40 million with investors including Insight Partners, TechStars and others.
The deal is a big move for consolidation: together the two say they will serve more than 10 million monthly active users in 150 countries, covering some $70 billion in linked assets. But also, better economies of scale, and better margins for companies that provide services that touch consumers not necessarily from a “home” of their own.
The latter is a growing trend that has mirrored the rise of social media and other services that aggregate content from multiple sources; and also the bigger trend of instant, on-demand everything, where consumers are happier with the convenience of buying or engaging with something right when they want to, rather than shopping around, delaying or navigating to another place to do it.
That has also seen the rise of commerce APIs to buy things instantly, not to mention the emergence of a wide range of commerce applications that let people easily buy goods and services on the spot. (And in line with that, TradingView says that nearly half of its user base today is millennials, with an additional 13 percent even younger, Gen Z. “The groups are particularly drawn to [our] extensive charting expertise,” the company says.)
In fintech, and in the world of investing specifically, that’s a trend that has also helped the growth of cryptocurrency, which has opened up the world of investing and thinking about investing to a whole new class of consumers who — for better or worse — are hearing about investing opportunities via viral social media campaigns and other new kinds of channels. Whether cryptocurrency speculation bears out longer term, it is depositing a new class of people into the world of thinking about companies and investing in them.
That taps into the sweet spot where TradeIt and TradingView are building their business.
“TradeIt’s secure and compliant relationships with established U.S. retail brokerages, coupled with their robust integrations with top investing apps, allows TradingView to be part of the backbone of the investing ecosystem,” said Denis Globa, TradingView founder and CEO, in a statement.
TradingView’s partners today include Crunchbase, Investopedia, SeekingAlpha, Zacks, Binance, CME Group and Entrepreneur, where users are able to access a premium tier of TradingView tools by way of a subscription in order to do some instant data and price modelling of a company that they might be reading about. The thinking is that now they will also be able to go one step further by trading stocks related to that information. TradingView, meanwhile, can use that extra feature to make a little more money and sell its service to partners as more sticky, to the tune of 80 percent more time spent with publishers as a result of integrating TradingView’s tools.
That’s something that the two companies can already attest to doing well in partnership.
“TradingView’s vision aligns strongly with our view of the distributed financial networks of the future,” said Nathan Richardson, TradeIt CEO, in a statement. “We’ve worked with TradingView for several years now, and always felt our complementary products and shared retail investing users makes us stronger together.”
Richardson and his cofounder Betsy Eisenberg — who are both joining TradingView — had together built Yahoo Finance — so they are already well experienced in how to leverage the potential of bringing together content with utility.
“Nathan Richardson and Betsy Eisenberg are fintech pioneers who led the development of Yahoo! Finance from scratch. With them on board, we’re extremely excited about the growth potential,” Globa said.
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Car companies are making big investments in technology to help ensure that they are not cut out of the next generation of transportation and automotive manufacturing, and today came the latest development in that trend.
The BMW Group and Microsoft announced they would team up in a new effort called the Open Manufacturing Platform, aimed at developing and encouraging more collaborative IoT development in the manufacturing sector, focusing on smart factory solutions and building standards to develop them in areas like machine connectivity and on-premises systems integration.
The two companies have not disclosed how much they intend to invest in the project — we have sent a message to ask. The plan will be to bring in more manufacturers and suppliers — the goal, they say, is to have between four and six others with them, working on 15 use cases by the end of this year — working with open source components, open industrial standards and open data to develop both hardware and software that runs on it.
The two say that future partners do not have to be from within the automotive industry.
The OMP will be built on Microsoft’s industrial IoT platform — part of its Azure cloud business. But this is a natural progression of how Microsoft and BMW were already working together. BMW already has 3,000 machines running on Azure cloud, IoT and AI services in its existing robots and in-factory autonomous transport systems, and it said it will be contributing some of the technology that it had already built — for example around its self-driving systems — into the group as part of the effort.
“Microsoft is joining forces with the BMW Group to transform digital production efficiency across the industry,” Scott Guthrie, executive vice president, Microsoft Cloud + AI Group, said in a presentation in Germany today. “Our commitment to building an open community will create new opportunities for collaboration across the entire manufacturing value chain.”
“Mastering the complex task of producing individualized premium products requires innovative IT and software solutions,” added Oliver Zipse, member of the Board of Management of BMW AG, Production, a statement. “The interconnection of production sites and systems as well as the secure integration of partners and suppliers are particularly important. We have been relying on the cloud since 2016 and are consistently developing new approaches. With the Open Manufacturing Platform as the next step, we want to make our solutions available to other companies and jointly leverage potential in order to secure our strong position in the market in the long term.”
The problem that Microsoft and BMW are going after here is a longstanding one. Much of the computing in the world of IT has been built around open standards, or in any event on very widely-used proprietary platforms that can interface with each other. The same does not go in the world of manufacturing, where proprietary systems are specific to each manufacturer, making them difficult to modify and often impossible to use in conjunction with other proprietary systems.
That ultimately slows down how things have been able to evolve, and will mean that implementing new generations of technology becomes expensive or even in some cases impossible. And given the speed with which things are moving, and the increasing sophistication of the machines that are being built (cars as “hardware”), something had to change.
That is what BMW and Microsoft are addressing. For BMW it will give it a hand in helping shape how standards develop, and for Microsoft it will give it a potential window into expanding its business in this enterprise sector.
The collaborative approach has been a big one for tech companies hoping to find a common way forward in the future of computing. Microsoft may own a lot of proprietary platforms that are not open source, but it’s making efforts to collaborate more in a number of other ways. It works with SAP, Adobe, WPP and others on the Open Data Initiative; with Intel, Google and others it’s working on an open standard for connecting data centers; it’s part of an open standard initiative for software licensing; and it’s part of a new cross-licensing patent database.
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There’s no shortage of so-called femtech startups raising money right now, and little wonder why.
Aside from the growing market opportunity — the global fertility services market is expected to reach $31 billion by 2023, says the consultancy Allied Market Research, nearly double where it stood in 2016 — more women are clamoring for information about their reproductive health, and 15-minute doctor visits aren’t doing the trick.
The newest recipient of venture dollars: NextGen Jane, a 4.5-year-old, Oakland, Calif.-based company that’s hoping to use blood wrung from tampons to find early markers of endometriosis and, later, if all goes well, cervical cancer and other disorders.
The company disclosed just today that it has secured $9 million in Series A funding led by Material Impact, a new fund focused on materials technology that we reported on last November. Other participants in the round include Access Industries, Viking Global Investors, Liminal Ventures and numerous notable angels, including PhDs from Harvard Medical School and Stanford University.
Its approach is far more palatable than the option women have long suffered, which is to have a small camera inserted into their pelvic cavity in search of endometrial cells. (Note: Women typically wind up in this position only after enduring bewildering pain that drives them to see their doctors.) The idea with NextGen Jane instead is for a custom-made tampon to be worn for roughly two hours, placed inside a test tube as part of a home kit and sent to a lab for further analysis.
Of course, it needs to work first, and the technology hasn’t been approved by the FDA. In fact, it hasn’t been proven at all.
The funding could, potentially, make the difference. In an interview with Technology Review last month, NextGen CEO and co-founder Ridhi Tariyal said that a clinical trial is designed and ready to go, but that NextGen Jane needed capital to run a trial on roughly 800 women in order to establish the diagnostic efficacy of menstrual blood. With funding, she’d said, it would take the company about two years to collect a meaningful amount of data.
Reproductive specialists seem torn generally on the trend of startups producing home kits aimed at helping women understand their fertility. While they see some value in the information they provide, they also fear that even home kits that have already been proven to accomplish their intended goal, such as measuring anti-Müllerian hormone, or AMH, may confuse women as much as they help them.
NextGen Jane had previously raised $2.3 million in funding. Meanwhile, TechCrunch has been reporting extensively on the broader uptick in femtech investing. You can find a much deeper dive regarding who has raised what lately and why right here.
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Since its launch on our stage way back in 2010, Cloudflare has focused on making the internet faster and more modern — but the mobile internet has until recently been beyond its reach. Today the company introduced a new service called Warp described as “the VPN for people who don’t know what VPN stands for.”
In case you’re one of those people, and there’s no shame in it, a VPN is a virtual private network: something that acts as an intermediary between you and the wider internet, allowing you to customize how you connect in many helpful ways, such as changing your apparent location or avoiding IP-based tracking.
The trouble with these services is that many of them just aren’t very good. Trusting a company you’ve never heard of with all your internet traffic just isn’t generally a good idea, and even the biggest and most proven VPN providers are far from household names. What’s more, they can introduce latency and performance issues, which on the mobile web are already trouble enough. In the best case they may take configuration and tweaking that casual users aren’t up to.
Warp, according to a blog post by CEO Matthew Prince, will provide many of the benefits of a VPN with none of the drawbacks, speeding up your connection while adding privacy and security.
“We’ve been tinkering with this idea for three or four years,” Prince told me. Originally there was the idea of making a browser, “but that’s insane,” he said; Apple and Google would crush it. Besides, everything is going app-based and mobile — the real opportunity, they perceived, lay in the layer between those things and the broader internet: “So, a VPN, and it made all the sense in the world for us.”
But they didn’t want to simply compete with a bunch of small providers appealing to a variety of niche power users.
“To be honest, for the vast majority of existing VPN users, this is probably not the right solution for them,” admitted Prince. “If you want to change your country to access Netflix while you’re traveling, there are lots of people that offer that service, but that’s not the market we’re getting into. We wanted something with mass appeal instead of trying to cannibalize what’s out there.”
In order to become a drawback-free default for millions of users, Cloudflare didn’t so much build something from the ground up as adapt nascent work by developers on the cutting edge of networking. It rewrote the already efficient open-source VPN layer created by Wireguard to be even more so, and added a UDP-based protocol created by Neumob, a company it bought in late 2017. Add to this the large network of Cloudflare servers all around the world and it’s a recipe for a quick, secure service that could very well be both better and faster than your existing connection.
You may remember that at this time last year, Cloudflare debuted its DNS service, 1.1.1.1, both for desktops and mobile (via the 1.1.1.1 app). It’s leveraging this presence to offer Warp as an optional and free upgrade.
So what is it? When your mobile wants to make a connection for a Google search or to get an update for an app or whatever, there’s a whole process of reaching out on the internet, finding the right IP to talk to, establishing a secure connection and so on. Cloudflare’s Warp VPN (like other VPNs) takes over this process, encrypting where it otherwise might not be, but also accelerating it by passing the requests over its own network using that Neumob protocol.
The technical aspects will no doubt be exposed and inspected in time, but Cloudflare claims that using Warp should improve your connection and make it more secure, while preventing your DNS lookup data (which says exactly which sites you request to connect to) from being collected and sold. Prince said his post lacked direct comparisons to existing VPNs because they don’t think those are relevant for the millions of non-VPN-using people they’re targeting with Warp.
“Will people do comparisons? Yes. Will I retweet those when they make us look good? Yes,” Prince said. “But we don’t expect to take a lot of users from them. We want the market to expand — we want to be the biggest VPN in the world without taking a single user from any other provider.”
Part of that is the lack of some of existing VPNs’ most attractive features, such as blocking ads at the IP level. Prince said he and the others at the company were uncomfortable with the idea of picking and choosing content, not least because many of their customers are ad-supported sites. “There’s just something creepy about when the internet’s underlying pipes start making editorial decisions,” Prince said. “When we start messing with the contents of a page, even if people want us to, it sets a dangerous precedent.”
Warp can be offered for free because the company is planning a more high-end service that it’ll sell for a monthly fee. Later, an enterprise version could be sold to replace the clunky ones currently out there (which many of our readers likely have already had the pleasure of using). Prince says he envisions a day when a kid can walk into the living room at home and say, “Mom, the internet is being slow, can I use your corporate VPN?” Unlikely, but even CEOs of major infrastructure companies have dreams. Be kind.
Until then, like the rest of Cloudflare’s connectivity suite, Warp will be free and come with few if any caveats.
Well, except one — it’s not available yet. They wanted to make the announcement on April 1 because it’s exactly a year since they announced 1.1.1.1 (get it? 4/1?), but they missed the date. (“I wanted to just turn this on for everyone, but our tech operations team was like, ‘No. You’re not allowed to do that. The network would fall over.’ “) So what you can do now is get the 1.1.1.1 app and request a spot in line. Since they just announced it, the wait probably won’t be that long… oh.
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Automattic, the company behind WordPress.com, WooCommerce and Jetpack, is launching a new suite of products focused on the future of work — Happy Tools. Automattic is a remote company with more than 850 employees working from 68 countries. And the company has built a bunch of products over the years to communicate, collaborate and work.
With Happy Tools, Automattic plans to turn those internal tools into actual products. The first product is Happy Schedule, a scheduling service that Automattic is using to deliver 24/7 customer support.
“Ideas about releasing our internal tools have been kicking around Automattic for years, but it’s been about finding the right moment and the right product to lead with,” Automattic product lead for Happy Tools Matt Wondra told me. “When we started building Happy Schedule a year ago we realized that designing a tool for our own scheduling needs also filled a clear gap in the [workforce management] landscape.”
“No other product out there gave us the flexibility and visibility we needed to comfortably schedule a globally distributed team. Since it was a greenfield internal project, we could engineer it from the ground up with public release in mind. And it just made sense to launch Happy Tools first into an industry we know so well — customer support.”
Happy Schedule is a modern web app and it should feel more like Google Calendar instead of some SAP product. For instance, you can click and drag your mouse to create an event — no need to input a start time and an end time.
But this is just a start. Automattic plans to launch more products over time so you can work more efficiently as a remote team. The company is using a software-as-a-service approach and it costs $5 per user per month to access Happy Tools.
It’s interesting to see that Automattic is promising a suite of products from day one. It won’t just be a bunch of different products. When you subscribe to Happy Tools, you should be able to access multiple products that work together, just like a G Suite subscription lets you access Gmail, Google Calendar, Google Drive, etc. This strategy will improve engagement and stickiness over time.
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French startup ManoMano is raising a new funding round of $125 million (€110 million). The company operates an e-commerce website and marketplace focused on home improvement and gardening.
ManoMano is part of the great unbundling of general e-commerce platforms. By focusing on a vertical in particular, the company can provide a large product offering, competitive prices and better customer service.
The platform generated $450 million (€400 million) in gross merchandise value last year. France is still its main market, but the company plans to become the dominant home improvement platform in Europe.
According to an interview in JDN, ManoMano plans to take a page out of Amazon’s playbook and expand its Mano Fulfillment service. As the name suggests, ManoMano plans to manage products from third-party retailers and take care of logistics.
More recently, ManoMano launched a B2B service with a few advantages for professional workers.
Eurazeo Growth, Aglaé Ventures and Bpifrance are participating in today’s funding round, with existing investors CM-CIC, Partech Ventures, Piton and General Atlantic also participating.
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Mailgun, an email API delivery service, announced today that it was selling a majority stake in the company to private equity firm Thoma Bravo. The companies did not share terms, but this is the second owner in the company’s eight-year history.
Mailgun provides API services for building email functionality into applications. It has more than 150,000 customers using its APIs, according to data provided by the company.
In a blog post announcing the investment, CEO William Conway said the new money should help the company expand its capabilities and accelerate the product roadmap, a common refrain from companies about to be acquired.
“We will be investing millions in the development of products you can use to enhance your deliverability, gain more insights into your emails and deliver an unparalleled experience for your customers. We’re also doubling down on customer success and enablement to ensure our customers have exactly what they need to scale their communications,” Conway wrote in the blog post.
The company, which was founded in 2010 and was a part of the Y Combinator Winter 2011 cohort, has had a complex history. Rackspace acquired it in 2012 and held onto it until 2017, when it spun out into a private company. At that point, Turn/River, another private equity firm, invested $50 million in the company. After today’s deal, Turn/River will maintain a minority ownership stake in Mailgun.
Mailgun typically competes with companies like Mailchimp and SendGrid. Thoma Bravo has a history of buying enterprise software companies. Most recently, it bought a majority stake in enterprise software company Apttus. It also has investments in SolarWinds, SailPoint and Blue Point Systems.
Thoma Bravo did not respond to a request for comment before publishing.
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Xing, the business networking platform that has been described as Germany’s answer to LinkedIn, has made an acquisition to beef up its recruitment business ahead of a rebrand of the business as “New Work.” The company has acquired Honeypot, a German startup that has built a job-hunting platform for tech people, for up to €57 million ($64 million). Xing tells us that Honeypot is its biggest acquisition to date.
The figure includes the acquisition (€22 million) plus a potential earn-out of up to €35 million if certain targets are met in the next three years.
Xing said that it plans to rebrand as New Work in the second half of 2019, bringing together a number of other assets it has acquired and built over the years.
“This acquisition is an excellent addition to our New Work portfolio,” Thomas Vollmoeller, CEO at Xing, said in a statement. “Honeypot focuses on candidates by helping them to find a job matching their individual preferences… With subsidiaries and brands such as kununu and HalloFreelancer, Xing is far more than just a single network. New Work is the umbrella spanning all our business activities.” Xing said that all the smaller companies will keep their branding.
Xing already offered job listings as part of its platform, with 20,000 businesses as customers; but Honeypot will add a few different things to the mix.
First, it will give Xing more traction specifically in the tech vertical, since Honeypot first started out in 2015 targeting developers although it later expanded to other tech jobs.
Second, Honeypot’s structure is a natural fit for a social recuitment platform: as with a lot of social recruiting, Honeypot lets recruiters use platforms, profile pages and social graphics to find and approach candidates, rather than candidates reaching out in response to specific opportunities.
Honeypot adds additional features to help make this process more accurate and less of a waste of time on both sides. Those doing the recruiting have to provide specific details around salary and, say, programming languages required, as part of their outreach. On the other side, individuals go through a “brief expertise check” to vet them, and they too have to be a bit more specific on what they can and what they want to do, and what they want to earn, to help weed out opportunities that might not be suitable.
Third, the acquisition will help Xing make a bigger push into building its profile outside of Germany into more of Europe, as New Work.
This is no small thing. Xing years ago was considered a would-be rival to LinkedIn. But — and this was perhaps even more true in the past, and Xing was founded in 2003 — scaling startups to be global players out of Europe can be a challenge, even more so when there is a formidable direct competitor growing quickly as well.
In the end, Xing developed as a much more modest operation, relatively speaking. While LinkedIn today has some 600 million users and was acquired by Microsoft in 2016 for $26.2 billion, Xing is publicly traded and currently valued at around $2 billion (€1.81 billion), with some 15 million members.
Xing says that today Honeypot’s current emphasis is German-speaking countries and the Netherlands, which together cover some of the biggest startup hubs in Europe, including Berlin and Amsterdam.
The company is still relatively small but growing, adding 1,000 IT specialists to its books each week, with some 100,000 individuals and 1,500 businesses currently registered. Xing said that it will be investing in the company to expand to more markets in Europe, as well as to grow its business by tapping Xing’s own customer base.
Although there have been some notable exceptions like payments startup Adyen from the Netherlands, Farfetch from the UK and Spotify (originally from Stockholm, grown in London and now increasingly a US company), scaling startups in Europe has proven to be challenging.
One of the big reasons why has to do with a shortage of talent to build these companies: in Germany alone — home to the buzzy startup city of Berlin — there are 82,000 unfilled tech jobs. In other words, there is an opportunity for more user-friendly platforms to help connect those dots.
“XING and Honeypot both have the vision of helping people to further their career. We want Honeypot to offer the world’s largest work-life community for IT specialists by giving candidates the power to decide on their next career step,” said Kaya Taner, CEO who founded Honeypot with Emma Tracey. “We will continue to pursue this vision with XING. Going forward, around 100,000 IT specialists from all over the world who are registered on Honeypot will be able to connect with the many first-rate employers in German-speaking countries. This will enable Honeypot to continue developing its domestic market, while also further expanding its international community.”
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Despite not being Brazilian and having their first exposure to the country only a few years ago, the two co-founders of Escale have managed to raise $22.6 million for their company, which provides customer acquisition services to companies in telecommunications and healthcare across Brazil.
Their secret? A knowledge of search engine optimization technologies honed through side businesses the two ran back in the United States.
The state of online marketing and digital sales was so woefully bad in Brazil that co-founders Matthew Kligerman and Ken Diamond had a green field in front of them on which to build Brazil’s first true online customer acquisition service, according to Diamond.
“We fell in love with Brazil for its warm culture and natural beauty, but as consumers, we had terrible experiences acquiring the most fundamental products and services for our new lives: internet, cell phone plans, health insurance and basic banking needs,” Kligerman said in a statement.
The company’s largest customer, according to Diamond, is NET, the Brazilian cable and telecom operator. NET was the first company to sign on for Escale’s customer acquisition services, but the company’s roster of clients now includes some of Brazil’s largest companies, including Bradesco, Sul America, Claro, GNDI and Amil.
It’s that marquee client list that attracted QED Investors and Invus Opportunities to co-lead the $22.6 million round that Escale just closed. The company’s previous investors, Kaszek Ventures, Rocket Internet’s GFC and Redpoint e.Ventures, also participated in the funding.
Latin America is in the throes of a startup renaissance at the moment, with Brazilian companies like Nubank and iFood and the Colombian company Rappi reaching billion-dollar valuations. Meanwhile investors are committing more capital to the region. SoftBank, for instance, is committing $5 billion to a new Latin American-focused fund.
With the new funding, Escale intends to move deeper into the development of customer acquisition platforms across verticals like consumer finance, insurance and education with comparison shopping sites and informational services (à la Credit Karma in the U.S.).
“With millions of web and cloud voice interactions every month, Escale can transform each of those interactions into data points, and continually improve its proprietary acquisition platform, ‘EscaleOS,’ to create highly-intelligent, customized marketing and sales funnels, helping consumers at the right moment connect with the products and services they need,” says Nicolas Berman, a partner at Kaszek Ventures. “The more consumer interactions they have, the faster Escale’s data flywheel spins.”
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Exactly 15 years ago, Google decided to confuse everybody by launching its long-awaited web-based email client on April 1. This definitely wasn’t a joke, though, and Gmail went on to become one of Google’s most successful products. Today, to celebrate its fifteenth birthday (and maybe make you forget about today’s final demise of Inbox and tomorrow’s shutdown of Google+), the Gmail team announced a couple of new and useful Gmail features, including improvements to Smart Compose and the ability to schedule emails to be sent in the future.
Smart Compose, which tries to autocomplete your emails as you type them, will now be able to adapt to the way you write the greetings in your emails. If you prefer “Hey” over “Hi,” then Smart Compose will learn that. If you often fret over which subject to use for your emails, then there’s some relief here for you, too, because Smart Compose can now suggest a subject line based on the content of your email.
With this update, Smart Compose is now also available on all Android devices. Google says that it was previously only available on Pixel 3 devices, though I’ve been using it on my Pixel 2 for a while already, too. Support for iOS is coming soon.
In addition to this, Smart Compose is also coming to four new languages: Spanish, French, Italian and Portuguese.
That’s all very useful, but the feature that will likely get the most attention today is email scheduling. The idea here is as simple as the execution. The “Send” button now includes a drop-down menu that lets you schedule an email to be sent at a later time. Until now, you needed third-party services to do this, but now it’s directly integrated into Gmail.
Google is positioning the new feature as a digital wellness tool. “We understand that work can often carry over to non-business hours, but it’s important to be considerate of everyone’s downtime,” Jacob Bank, director of Product Management, G Suite, writes in today’s announcement. “We want to make it easier to respect everyone’s digital well-being, so we’re adding a new feature to Gmail that allows you to choose when an email should be sent.”
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