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Floww — a data-driven marketplace designed to allow founders to pitch investors, with the whole investment relationship managed online — says it has raised $6.7 million (£5 million) to date in seed funding from angels and family offices. Investors include Ramon Mendes De Leon, Duncan Simpson-Craib, Angus Davidson, Stephane Delacote and Pip Baker (Google’s head of Fintech U.K.) and multiple family offices. The cash will be used to build out the platform designed to give startups access to more than 500 VCs, accelerators and angel networks.
The team consists of Martijn De Wever, founder and CEO of London-based VC Force Over Mass; Lee Fasciani, co-founder of Territory Projects (the firm behind film graphics and design including “Guardians of the Galaxy” and “BladeRunner 2049”); and CTO Alex Pilsworth, of various fintech startups.
Having made more than 160 investments himself, De Wever says he recognized the need for a platform connecting investors and startups based on merit, clean data and transparency, rather than a system built on “warm introductions,” which can have inherent cultural and even racial biases.
Floww’s idea is that it showcases startups based on merit only, allowing founders to raise capital by providing investors with data and transparency. Startups are given a suite of tools and materials to get started, from cap table templates to “How To” guides. Founders can then “drag and drop” their investor documents in any format. Floww’s team of accountants then cross-checks the data for errors and processes key performance metrics. A startup’s digital profile includes dynamic charts and tables, allowing prospective investors to see the company’s business potential.
Floww charges a monthly fee to VCs, accelerators, family offices and PE firms. Startups have free access to the platform, and a premium model to contact and send their deal to multiple VCs.
Floww’s pitch is that VCs can, in turn, manage deal-sourcing, CRM, as well as reporting to their investors and LPs. Quite a claim, given all VCs to date handle this kind of thing in-house. However, Floww claims to have processed 3,000 startups and says it is rolling out to more than 500 VCs.
In a statement, De Wever said: “In an age of virtual meetings and connections, the need for coffee meetings on Sand Hill Road or Mayfair is gone. What we need now are global connections, allowing VCs to engage in merit-based investing using data and metrics.” He says the era of the coronavirus pandemic means many deals will have to be sourced remotely now, so “the time for a platform like this is now.”
AngelList is perhaps its closest competitor from the startup perspective. And the VC application incorporates the kind of functionality seen in Affinity, Airtable, Efront and DocSend. But AngeList doesn’t provide data or metrics.
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The idea of people going to live and work in space, outside of the extremely unique case of the International Space Station, has long been the strict domain of science fiction. That’s changing fast, however, with public space agencies, private companies and the scientific community all looking at ways of making it safe for people to live and work in space for longer periods — and broadening accessibility of space to people who don’t necessarily have the training and discipline of dedicated astronauts.
At TC Sessions: Space on December 16 & 17, we’ll be talking to some of the people who want to make living and working in space a reality, and who are paving the way for the future of both commercial and scientific human space activity. Those efforts range from designing the systems people will need for staying safe and comfortable on long spaceflights, to ideating and developing the technologies needed for long-term stays on the surface of worlds that are far less hospitable to life than Earth, like the moon and Mars.
We’re thrilled to have Janet Kavandi from Sierra Nevada Corporation, Melodie Yashar from SEArch+, Nujoud Mercy from NASA and Axiom’s Amir Blachman joining us at TC Sessions: Space on December 16 &17 to chat about the future of human space exploration and commercial activity.
Janet Kavandi is executive vice president of Space Systems at the Sierra Nevada Corporation. She was selected as a NASA astronaut in 1994 as a member of the fifteenth class of U.S. astronauts. She completed three space flights in which she supported space station payload integration, capsule communications and robotics. She went on to serve as director of flight crew operations at NASA’s Johnson Space Center and then as director of NASA’s Glenn Research Center, where she directed cutting-edge research on aerospace and aeronautical propulsion, power and communication technologies. She retired from NASA in 2019 after 25 years of service.
Melodie Yashar is a design architect, technologist and researcher. She is co-founder of Space Exploration Architecture (SEArch+), a group developing human-supporting concepts for space exploration. SEArch+ won top prize in both of NASA’s design solicitations for a Mars habitat within the 3D-Printed Habitat Challenge. The success of the team’s work in NASA’s Centennial Challenge led to consultancy roles and collaborations with UTAS/Collins Aerospace, NASA Langley, ICON, NASA Marshall and others.
Nujoud Merancy is a systems engineer with extensive background in human spaceflight and spacecraft at NASA Johnson Space Center. She is currently the chief of the Exploration Mission Planning Office responsible for the team of engineers and analysts designing, developing and integrating NASA’s human spaceflight portfolio beyond low earth orbit. These missions include planning for the Orion Multi-Purpose Crew Vehicle, Space Launch System, Exploration Ground Systems, Gateway and Human Landing System.
Amir Blachman is chief business officer at Axiom, a pioneering company in the realm of commercializing space and building the first generation of private commercial space stations. He spent most of his career investing in and leading early-stage companies. Before joining Axiom as the company’s first employee, he managed a syndicate of 120 space investors in 11 countries. Through this syndicate, he funded lunar landers, communication networks, Earth-imaging satellites, antennae and exploration technologies.
In order to hear from these experts, you’ll need to pick up your ticket to TC Sessions: Space, which will also include video on demand for all sessions, which means you won’t have to miss a minute of expert insight, tips and trend spotting from the top founders, investors, technologists, government officials and military minds across public, private and defense sectors. There are even discounts for groups, students and military/government officials.
You’ll find panel discussions, interviews, fireside chats and interactive Q&As on a range of topics: mineral exploration, global mapping of the Earth from space, deep tech software, defense capabilities, 3D-printed rockets and the future of agriculture and food technology. Don’t miss the breakout sessions dedicated to accessing grant money. Explore the event agenda now and get a jump on organizing your schedule.
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Everyday thousands of trucks carry freight along U.S. highways, propelling the economy forward as consumer goods, electronics, cars and agriculture make their way to distribution centers, stores and eventually households. It’s inside these trucks — many of which sit half empty — where Flock Freight, a five-year-old startup out of San Diego, believes it can transform the industry.
Now, it has the funds to try and do it.
Flock Freight said Tuesday it has raised $113.5 million in a Series C round led by SoftBank Vision Fund 2. Existing investors SignalFire, GLP Capital Partners and Google Ventures also participated in the round, in addition to a new minority investment by strategic partner Volvo Group Venture Capital. Ervin Tu, managing partner at SoftBank Investment Advisers, will join Flock Freight’s board. The company, which has raised $184 million to date, has post-funding valuation of $500 million, according to a source familiar with the deal who confirmed an earlier report by Bloomberg.
A slew of startups have popped up in the past several years all aiming to use technology to transform trucking — the backbone of the U.S. economy that moves more than 70% of all U.S. freight — into a more efficient machine. Most have focused on building digital freight networks that connect truckers with shippers.
Flock Freight has focused instead on the shipments themselves. The company created a software platform that helps pool shipments into a single shared truckload to make carrying freight more efficient. Flock Freight says its software avoids the traditional hub-and-spoke system, which is dominated by trucks with less than a full load, known in the industry as LTL. Flock Freight says that by pooling onto one truck shipments that are going the same direction, freight-related carbon emissions can be reduced by 40%.
The funds will be used to hire more employees; it has 129 employees to date.
“Unlike the digital freight-matching category that uses technology to simply improve efficiency as workflow automation, Flock Freight uses technology to power a new shipping mode (shared truckload) that makes freight transportation more efficient. The impact of Flock Freight’s algorithms is that shippers no longer need to adhere to LTL constraints for freight that measures up to 44 linear feet; instead, they can classify it as ‘shared truckload,’ ” Oren Zaslansky, founder and CEO of Flock Freight said in a statement. “Shippers can use Flock Freight’s efficient shared truckload solution to accommodate high demand and increased urgency.”
Their pitch has been compelling enough to attract a diverse mix of venture firms and corporate investors such as Volvo and SoftBank.
“Flock Freight is improving supply chain efficiency for hundreds of thousands of shippers. Our investment is intended to accelerate the company’s ability to scale its business and capture a greater share of the market,” said Tu, managing partner at SoftBank Investment Advisers.
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With the pandemic playing havoc with children’s education, edtech startups have been on a roll. A new fundraising seems to come almost every week at this point.
Today it’s Novakid’s turn. This edtech startup is yet another “learning English as a second language for children” startup. But it at least has a chance among the plethora of solutions out there, having raised a $4.25 million Series A financing led by Hungary-based PortfoLion (part of OTP, a leading banking group in Eastern Europe), alongside a prominent edtech-focused U.S. fund, LearnStart. LearnStart is part of the LearnCapital VC which has previously backed VIPKID and Brilliant.org. TMT Investments and Xploration Capital also joined the round. Both seed investors — South Korea-based BonAngels as well as LETA Capital — took part in this financing round in January this year ($1.5 million).
Novakid’s teaching method is based around the ideas of language acquisition by Asher, Thornbury, Krashen and Chomsky, and it is specifically suited for children aged 4-12. It is incorporated in the U.S. with development and customer support around Europe.
Max Azarow, co-founder and CEO said: “Novakid is reinventing English learning for kids in countries where English is not a primary spoken language. There, English would usually be taught as an abstract subject, with focus on grammar and with little live practice offered. Novakid on the other hand implements a unique format that combines a highly-interactive digital curriculum with individual live tutor sessions where students and tutor only speak English for a 100% language immersion.”
Aurél Påsztor, partner at PortfoLion, commented: “Novakid attracted investor attention due to its excellent traction, which resulted in over 500% growth year-on-year both in terms of number of students and in terms of revenue. Other attractive points were strong customer retention, international business footprint and a solid monetization via paid subscriptions.”
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This morning Airbnb released an S-1/A filing that details its initial IPO price range. The home-sharing unicorn intends to price its shares between $44 and $50 in its debut.
Per the company’s own accounting, it will have 596,399,007 or 601,399,007 shares outstanding, depending on whether its underwriters exercise their option. That gives the company a valuation range of $26.2 billion to $30.1 billion at the extremes.
The company’s simple share count does not include a host of other shares that have vested but not yet been exercised. Including those shares, the company’s fully diluted valuation stretches to $35 billion, by CNBC’s arithmetic.
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The top end of Airbnb’s simple valuation places it near its Series F valuation set in 2017. Its fully diluted valuation exceeds that $30.5 billion valuation and is far superior to the $18 billion, post-money valuation that it raised at during its troubled period early in the COVID-19 pandemic.
For those investors, Silver Lake and Sixth Street, the company’s initial IPO price range is a win. For the company’s preceding investors, to see the company appear ready to at least match its preceding private valuation is a win as well, given how much damage Airbnb’s business sustained early in the pandemic.
But how do those Airbnb valuation numbers match up against its revenues, and will public market investors value the company based on its current results, or expectations for a return-to-form once a vaccine comes to market? And if so, is Airbnb expensive or not?
Shares of Booking Holdings, which owns travel services like Kayak, Priceline, OpenTable and others, have almost doubled in value since its pandemic lows and is within spitting distance of its all-time highs. This despite its revenues falling 48% in its most recent quarter. There’s optimism in the market that travel companies are on the cusp of a return to form, buoyed — we presume — by good news regarding effective coronavirus vaccines.
My expectation is that Airbnb is enjoying a similar bump, as investors intend to buy its shares not to bask in awe of its Q4 2020 results, but instead to enjoy what happens in the back half of 2021 as vaccines roll out and the travel industry recovers.
But what happens if we stack Airbnb’s revenues against its valuation today?
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As we’ve moved to work from home during the pandemic, it’s been challenging for remote workers to feel connected. Loop Team, a new entrant into the enterprise communications space, thinks the way we are communicating needs improvement. That’s why the startup is releasing Loop Team today, a tool that is trying to use software to reproduce the in-office experience.
Company founder and CEO Raj Singh says that he learned about the problems of feeling disconnected first-hand at a previous remote-first company, but in spite of his best attempts to use technology to produce that in-office feel, he said he continued to feel out of the loop (so to speak). That’s when he decided to build the solution he wanted.
“We’ve looked at a lot of the interactions that happen when you’re physically in an office — the visual communication, the background conversations, the hallway chatter, the serendipitous bumping, things like that. And we built an experience that effectively is a virtual office. And so it tries to represent the best parts of what a physical office experience might be like, but in a virtual form,” Singh explained to me.
While he created this company prior to COVID, the pandemic has highlighted the need for a tool like this. Before he created the software, he interviewed hundreds of people who worked from home to understand their issues working outside of the office and he heard a lot of common complaints.
“There was an office and they didn’t necessarily know what was going on. They didn’t know who was available. They didn’t know who was around. It was difficult to connect. Everything was scheduled through a calendar. They were missing some of that presence — and they were feeling lonely or out of touch or out of the loop,” he said.
His company’s solution tries to reproduce the office experience using AI, good old-fashioned presence awareness and other tech to let team members know what you’re doing and if you’re available to chat. So just as you would wander down the hall and see your colleague on the phone or deeply involved with work on the laptop, and know to leave them be, you could get that same feel with Loop.
Image Credits: Loop Team
It gives the current status of the person, and you can know from looking at the list of people on your team who’s available to talk and who’s busy. As you go into virtual discussions, the team can see who’s having meetings and individuals can pop in too, just as you might do in the office.
What’s more, you can set up rooms (like in Slack), but these are designed to give you a more personal connection using video and audio for actual discussion. You can work on projects via screen share and people who miss these meetings because of other obligations or time zone differences can always review what they missed.
While you can do all of these things in Slack and Zoom, or in some combination of similar tools, Loop’s layout and presentation is designed to help you see the conversations in a clear way and expose what you want to see, while hiding parts of the day that don’t interest you.
The product is available for free starting today, but Singh wants to introduce a pricing model sometime next year based on team size. He expects there will always be a freemium version for teams with fewer than 10 people.
The company was founded in 2018 and nurtured at the Stanford Research Institute (SRI). It has raised $4.75 million so far. Today it starts on its journey as a startup with its first product, and it’s one that comes with good timing as more teams find themselves working remotely than ever before.
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Vivenu, a ticketing platform that offers an API for venues and promoters to customize to their needs, has closed a $15 million (€12.6 million) Series A funding round led by Balderton Capital. Previous investor Redalpine also participated.
Historically speaking, most ticketing platform startups took a direct to consumer approach, or have provided turnkey solutions to big event promoters. But in this day and age, most events require a great deal more flexibility, not least because of the pandemic. So, by offering an API and allowing promoters that flexibility, vivenu managed to gain traction.
Venues and event owners get a full-featured ticketing, out-of-the-box platform with full real-time dynamic control over all aspects of selling tickets, including configuring prices and seating plans, leveraging customer data and insights and mastering a branded look and feel across their sales channels. It has exposed APIs enabling many different custom use cases for large international ticket sellers. Since its seed funding in March, the company says it has sold more than 2 million tickets.
Simon Hennes, CEO and co-founder of vivenu, said in a statement: “We created vivenu to address the need of ticket sellers for a user-centric ticketing platform. Event organizers were stuck with solutions that heavily depend on manual processes, causing high costs, dependencies, and frustration on various levels.”
Daniel Waterhouse, partner at Balderton, said: “Vivenu has built a sophisticated product and set of APIs that gives event organisers full control of their ticketing operations.”
Vivenu is also the first European investment of Aurum Fund LLC, the fund associated with the San Francisco 49ers. Also investing in the round are angels, including Sascha Konietzke (founder at Contentful), Chris Schagen (former CMO at Contentful), Sujay Tyle (founder at Frontier Car Group) and Tiny VC.
In March 2020, vivenu secured €1.4 million in seed funding, bringing its total funding to €14 million. Previous investors include early-stage venture capital investor Redalpine, GE32 Capital and Hansel LLC (associated with the founders of Loft).
Speaking to TechCrunch, Hennes said: “You have to send your seat map to Ticketmaster, and then the account manager comes back to you with a sitemap. This goes back and forth and takes ages. With us you have a seating chart designer basically integrated into the software which you can simply change yourself.”
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Theodoric Chew, co-founder and chief executive officer of mental health app Intellect
Intellect, a Singapore-based startup that wants to lower barriers to mental health care in Asia, says it has reached more than one million users just six months after launching. Google also announced today that the startup’s consumer app, also called Intellect, is one of its picks for best personal growth apps of 2020.
The company recently closed an undisclosed seed round led by Insignia Ventures Partners . Angel investors including e-commerce platform Carousell co-founder and chief executive officer Quek Siu Rui; former Sequoia partner Tim Lee; and startup consultancy xto10x’s Southeast Asia CEO J.J. Chai also participated.
In a statement, Insignia Ventures Partners principal Samir Chaibi said, “In Intellect, we see a fast-scaling platform addressing a pain that has become very obvious amidst the COVID-19 pandemic. We believe that pairing clinically-backed protocols with an efficient mobile-first delivery is the key to break down the barriers to access for millions of patients globally.”
Co-founder and chief executive officer Theodoric Chew launched Intellect earlier this year because while there is a growing pool of mental wellness apps in the United States and Europe that have attracted more funding during the COVID-19 pandemic, the space is still very young in Asia. Intellect’s goal is to encourage more people to incorporate mental health care into their daily routines by lowering barriers like high costs and social stigma.
Intellect offers two products. One is a consumer app with self-guided programs based on cognitive behavioral therapy techniques that center on issues like anxiety, self-esteem or relationship issues.
The other is a mental health platform for employers to offer as a benefit and includes a recently launched telehealth service called Behavioural Health Coaching that connects users with mental health professionals. The service, which includes one-on-one video sessions and unlimited text messaging, is now a core part of Intellect’s services, Chew told TechCrunch.
Intellect’s enterprise product now reaches 10,000 employees, and its clients include tech companies, regional operations for multinational corporations and hospitals. Most are located in Singapore, Hong Kong, Indonesia and India, and range in size from 100 to more than 3,000 employees.
For many small to mid-sized employers, Intellect is often the first mental health benefit they have offered. Larger clients may already have EAP (employee assistance programs), but Chew said those are often underutilized, with an average adoption rate of 1% to 2%. On the other hand, he said Intellect’s employee benefit program sees an average adoption rate of 30% in the first month after it is rolled out at a company.
Chew added that the COVID-19 pandemic has prompted more companies to address burnout and other mental health issues.
“In terms of larger trends, we’ve seen a huge spike in companies across the region having mental health and wellbeing of their employees being prioritized on their agenda,” said Chew. “In terms of user trends, we see a significantly higher utilization in work stress and burnout, anxiety and relationship-related programs.”
Intellect’s seed round will be used to expand in Asian markets and to help fund clinical research studies it is currently conducting with universities and organizations in Singapore, Australia and the United Kingdom.
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With the release of watchOS 7, Apple at last turned the Apple Watch into the GPS-based kid tracker parents have wanted, albeit at a price point that requires careful consideration. As someone in the target demographic for such a device — a parent of a “tween” who’s allowed to freely roam the neighborhood (but not without some sort of communication device) — I put the new Family Setup system for the Apple Watch through its paces over the past couple of months.
The result? To be frank, I’m conflicted as to whether I’d recommend the Apple Watch to a fellow parent, as opposed to just suggesting that it’s time to get the child a phone.
This has to do, in part, with the advantages offered by a dedicated family-tracking solution — like Life360, for example — as well as how a child may respond to the Apple Watch itself, and the quirks of using a solution that wasn’t initially designed with the needs of family tracking in mind.
As a parent of a busy and active tween (nearly 11), I can see the initial appeal of an Apple Watch as a family tracker. It has everything you need for that purpose: GPS tracking, the ability to call and text, alerts and access to emergency assistance. It’s easy to keep up with, theoretically, and it’s not as pricey as a new iPhone. (The new Apple Watch SE cellular models start at $329. The feature also works on older Apple Watch Series 4 or later models with cellular. Adding the Apple Watch to your phone plan is usually around $10 per month more.)
I think the Apple Watch as a kid tracker mainly appeals to a specific type of parent: one who’s worried about the dangers of giving a younger child a phone and thereby giving them access to the world of addictive apps and the wider internet. I understand that concern, but I personally disagree with the idea that you should wait until a child is “older,” then hand them a phone and say “ok, good luck with that!” They need a transition period and the “tween” age range is an ideal time frame to get started.
The reality is that smartphones and technology are unavoidable. As a parent, I believe it’s my job to introduce these things in small measures — with parental controls and screen time limits, for example. And then I need to monitor their usage. I may make mistakes, and so will my daughter, but we both need these extra years to figure out how to balance parenting and the use of digital tools. With a phone, I know I will have to have the hard conversations about the problems we run into. I understand, too, why parents want to put that off, and just buy a watch instead.
Image Credits: TechCrunch
After my experience, I feel the only cases where I’d fully endorse the Apple Watch would be for those tech-free or tech-light families where kids will not be given phones at any point, households where kids’ phone usage is highly restricted (like those with Wi-Fi-only phones) or those where kids don’t get phones until their later teenage years. I am not here to convince them of my alternative, perhaps more progressive view on when to give a kid a phone. The Apple Watch may make sense for these families, and that’s their prerogative.
However, a number of people may be wondering if the Apple Watch can be a temporary solution for perhaps a year or two before they buy the child a smartphone. To them, I have to say this feels like an expensive way to delay the inevitable, unavoidable task of having to parent your child through the digital age.
Given my position on the matter, my one big caveat to this review is that my daughter does, in fact, have a smartphone. Also, let’s be clear: this is not meant to be a thorough review of the Apple Watch itself, or a detailed report of its various “tech specs.” It’s a subjective report as to how things went for us, from which, hopefully, you can learn.
Image Credits: Apple
To begin, the process of configuring the new Apple Watch with Family Setup was easy. “Set Up for a Family Member” is one of two setup options to tap on as you get started. Apple offers a simple user interface that walks you through pairing the Watch with your phone and all the choices that have to be made, like enabling cellular, turning on “Ask to Buy” for app purchases, enabling Schooltime and Activity features and more.
What was harder was actually using the Apple Watch as intended after it was configured. I found it far easier to launch an iPhone app (like Life360, which we use) where everything you need is in one place. That turned out not to be true for the Apple Watch Family Setup system.
For the purpose of testing the Apple Watch with Family Setup, my daughter would leave her iPhone behind when she went out biking or when meeting up with friends for outdoor activities.
As a child who worked her way up to an iPhone over a couple of years, I have to admit I was surprised at how irresponsible she was with the watch in the early weeks.
She didn’t at all respect the multi-hundred-dollar device it was, at first, but rather treated it like her junk jewelry or her wrist-worn scrunchies. The Apple Watch was tossed on a dresser, a bathroom counter, a kitchen table, on a beanbag chair and so on.
Thankfully, the “Find My” app can locate the Apple Watch, if it has battery and a signal. But I’m not going to lie — there were some scary moments where a dead watch was later found on the back of a toilet (!!), on the top of the piano and, once, abandoned at a friend’s house.
And this, from a child who always knows where her iPhone is!
The problem is that her iPhone is something she learned to be responsible for after years of practice. This fooled me into thinking she actually was responsible for expensive devices. For two years, we painfully went through a few low-end Android phones while she got the hang of keeping up with and caring for such a device. Despite wrapping those starter phones in protective cases, we still lost one to a screen-destroying crash on a tile floor and another to being run over by a car. (How it flew out of a pocket and into the middle of the road, I’ll never understand!)
But, eventually, she did earn access to a hand-me-down iPhone. And after initially only being allowed to use it in the house on Wi-Fi, that phone now goes outdoors and has its own phone number. And she has been careful with it in the months since. (Ahem, knocks on wood.)
The Apple Watch, however, held no such elevated status for her. It was not an earned privilege. It was not fun. It was not filled with favorite apps and games. It was, instead, thrust upon her.
While the iPhone is used often for enjoyable and addictive activities like Roblox, TikTok, Disney+ and Netflix, the Apple Watch was boring by comparison. Sure, there are a few things you can do on the device — it has an App Store! You can make a Memoji! You can customize different watch faces! But unless this is your child’s first-ever access to technology, these features may have limited appeal.
“Do you want to download this game? This looks fun,” I suggested, pointing to a coloring game, as we looked at her Watch together one night.
“No thanks,” she replied.
“Why not?”
“I just don’t think it would be good on the little screen.”
“Maybe a different game?”
“Nah.”
And that was that. I could not convince her to give a single Apple Watch app a try in the days that followed.
She didn’t even want to stream music on the Apple Watch — she has Alexa for that, she pointed out. She didn’t want to play a game on the watch — she has Roblox on the bigger screen of her hand-me-down laptop. She also has a handheld Nintendo Switch.
Image Credits: TechCrunch
Initially, she picked an Apple Watch face that matched her current “aesthetic” — simple and neutral — and that was the extent of her interest in personalizing the device in the first several weeks.
Having already burned herself out on Memoji by borrowing my phone to play with the feature when it launched, there wasn’t as much interest in doing more with the customized avatar creation process, despite my suggestions to try it. (She had already made a Memoji her Profile photo for her contact card on iPhone.)
However, I later showed her the Memoji Watch Face option after I set it up, and asked her if she liked it. She responded “YESSSS. I love it,” and snatched the watch from my hand to play some more.
Demo’ing features is important, it seems.
But largely, the Apple Watch was strapped on only at my request as she walked out the door.
Soon, this became a routine.
“Can I go outside and play?”
“Yes. Wear the watch!” I’d reply.
“I knowwww.”
It took over a month to get to the point that she would remember the watch on her own.
I have to admit that I didn’t fully demo the Apple Watch to her or explain how to use it in detail, beyond a few basics in those beginning weeks. While I could have made her an expert, I suppose, I think it’s important to realize that many parents are less tech-savvy than their kids. The children are often left to fend for themselves when it comes to devices, and this particular kid has had several devices. For that reason, I was curious how a fairly tech-literate child who has moved from iPad to Android to now iPhone, and who hops from Windows to Mac to Chromebook, would now adapt to an Apple Watch.
As it turned out, she found it a little confusing.
“What do you think about the Watch?” I asked one evening, feeling her out for an opinion.
“It’s fun…but sometimes I don’t really understand it,” she replied.
“What don’t you understand?”
“I don’t know. Just…almost everything,” she said, dramatically, as tweens tend to do. “Like, sometimes I don’t know how to turn up and down the volume.”
Upon prodding, I realize she meant this: she was confused about how to adjust the alert volume for messages and notifications, as well as how to change the Watch from phone calls to a vibration or to silence calls altogether with Do Not Disturb. (It was her only real complaint, but annoying enough to be “almost everything,” I guess!)
I’ll translate now from kid language what I learned here.
First, given that the “Do Not Disturb” option is accessible from a swipe gesture, it’s clear my daughter hadn’t fully explored the watch’s user interface. It didn’t occur to her that the swipe gestures of the iPhone would have their own Apple Watch counterparts. (And also, why would you swipe up from the bottom of the screen for the Control Center when that doesn’t work on the iPhone anymore? On iPhone, you now swipe down from the top-right to get to Control Center functions.)
And she definitely hadn’t discovered the tiny “Settings” app (the gear icon) on the Apple Watch’s Home Screen to make further changes.
Instead, her expectation was that you should be able to use either a button on the side for managing volume — you know, like on a phone — or maybe the digital crown, since that’s available here. But these physical features of the device — confusingly — took her to that “unimportant stuff” like the Home Screen and an app switcher, when in actuality, it was calls, notifications and alerts that were the app’s main function, in her opinion.
And why do you need to zoom into the Home Screen with a turn of the digital crown? She wasn’t even using the apps at this point. There weren’t that many on the screen.
Curious, since she didn’t care for the current lineup of apps, I asked for feedback.
“What kind of apps do you want?,” I asked.
“Roblox and TikTok.”
“Roblox?!,” I said, laughing. “How would that even work?”
As it turned out, she didn’t want to play Roblox on her watch. She wanted to respond to her incoming messages and participate in her group chats from her watch.
Oh. That’s actually a reasonable idea. The Apple Watch is, after all, a messaging device.
And since many kids her age don’t have a phone or the ability to use a messaging app like Snapchat or Instagram, they trade Roblox usernames and friend each other in the game as a way to work around this restriction. They then message each other to arrange virtual playdates or even real-life ones if they live nearby.
But the iOS version of the Roblox mobile app doesn’t have an Apple Watch counterpart.
“And TikTok?” I also found this hilarious.
But the fact that Apple Watch is not exactly an ideal video player is lost on her. It’s a device with a screen, connected to the internet. So why isn’t that enough, she wondered?
“You could look through popular TikToks,” she suggested. “You wouldn’t need to make an account or anything,” she clarified, as if these details would fix the only problems she saw with her suggestion.
Even if the technology was there, a TikTok experience on the small screen would never be a great one. But this goes to show how much interest in technology is directly tied to what apps and games are available, compared with the technology platform itself.
Other built-in features had even less appeal than the app lineup.
Image Credits: Apple
Though I had set up some basic Activity features during the setup process, like a “Move Goal,” she had no idea what any of that was. So I showed her the “rings” and how they worked, and she thought it was kind of neat that the Apple Watch could track her standing. However, there was no genuine interest or excitement in being able to quantify her daily movement — at least, not until one day many weeks later when were hiking and she heard my watch ding as my rings closed and wanted to do the same on hers. She became interested in recording her steps for that hike, but the interest wasn’t sustained afterwards.
Apple said it built in the Activity features so kids could track their move goal and exercise progress. But I would guess many kids won’t care about this, even if they’re active. After all, kids play — they don’t think “how much did I play? Did I move enough today?” And nor should they, really.
As a parent, I can see her data in the Health app on my iPhone, which is the device I use to manage her Apple Watch. It’s interesting, perhaps, to see things like her steps walked or flights climbed. But it’s not entirely useful, as her Apple Watch is not continually worn throughout the day. (She finds the bands uncomfortable — we tried Sport Band and Sport Loop and she still fiddles with them constantly, trying to readjust them for comfort.)
In addition, if I did want to change her Activity goals later on for some reason, I’d have to do so from her Watch directly.
Of course, a parent doesn’t buy a child an Apple Watch to track their exercise. It’s for the location-tracking features. That is the only real reason a parent would consider this device for a younger child.
On that front, I did like that the watch was a GPS tracker that was looped into our household Apple ecosystem as its own device with its own phone number. I liked that I could ping the Watch with “Find My” when it’s lost — and it was lost a lot, as I noted. I liked that I could manage the Watch from my iPhone, since it’s very difficult to reacquire a device to make changes once it’s handed over to someone else.
I also liked that the Apple Watch was always available for use. This may have been one of its biggest perks, in fact. Unlike my daughter’s iPhone, which is almost constantly at 10-20% battery (or much less), the watch was consistently charged and ready when it was time for outdoor play.
I liked that it was easier for her to answer a call on the Apple Watch compared with digging her phone out of her bike basket or bag. I liked that she didn’t have to worry about constantly holding onto her phone while out and about.
I also appreciated that I could create geofenced alerts — like when she reached the park or a friend’s house, for example, or when she left. But I didn’t like that the ability to do so is buried in the “Find My” app. (You tap on the child’s name in the “People” tab. Tap “Add” under “Notifications.” Tap “Notify Me.” Tap “New Location.” Do a search for an address or venue. Tap “Done.”)
Image Credits: TechCrunch
I also didn’t like that when I created a recurring geofence, my daughter would be notified. Yes, privacy. I know! But who’s in charge here? My daughter is a child, not a teen. She knows the Apple Watch is a GPS tracker — we had that conversation. She knows it allows me to see where she is. She’s young, and, for now, doesn’t feel like this a privacy violation. We’ll have that discussion later, I’m sure. But at the present, she likes the feel of this electronic tether to home as she experiments with expanding the boundaries of her world.
When I tweak and update recurring alerts for geofenced locations, such alerts can be confusing or even concerning. I appreciate that Apple is being transparent and trying to give kids the ability to understand they’re being tracked — but I’d also argue that most parents who suddenly gift an expensive watch to their child will explain why they’re doing so. This is a tool, not a toy.
Also, the interface for configuring geofences is cumbersome. By comparison, the family-tracking app Life360 which we normally use has a screen where you simply tap add, search to find the location and you’re done. One tap on a bell icon next to the location turns on or off its alerts. (You can get all granular about it: recurring, one time, arrives, leaves, etc. — but you don’t have to. Just tap and be alerted. It’s more straightforward.)
Image Credits: Apple
One feature I did like on the Apple Watch, but sadly couldn’t really use, was its Schooltime mode — a sort of remotely-enabled, scheduled version of Do Not Disturb. This feature blocks apps and complications and turns on the Do Not Disturb setting for the kids, while letting emergency calls and notifications break through. (Make sure to set up Shared Contacts, so you can manage that aspect.)
Currently, we have no use for Schooltime, thanks to this pandemic. My daughter is attending school remotely this year. I could imagine how this may be helpful one day when she returns to class.
But I also worry that if I sent her to class with the Apple Watch, other kids will judge her for her expensive device. I worry that teachers (who don’t know about Schooltime) will judge me for having her wear it. I worry kids will covet it and ask to try it on. I worry a kid running off with it, causing additional disciplinary headaches for teachers. I worry it will get smashed on the playground or during PE, or somehow fall off because she meddled with the band for the umpteenth time. I worry she’ll take it off because “the strap is so annoying” (as I was told), then leave it in her desk.
I don’t worry as much about the iPhone at school, because it stays in her backpack the whole time due to school policy. It doesn’t sit on her arm as a constant temptation, “Schooltime” mode or otherwise.
The Apple Watch Family Setup is also not a solution that adapts as the child ages to the expanding needs of teen monitoring, compared with other family-tracking solutions.
To continue the Life360 comparison, the app today offers features for teen drivers, and its new privacy-sensitive location “bubbles” for teens now give them more autonomy. Apple’s family-tracking solution, meanwhile, becomes more limited as the child ages up.
For instance, Schooltime doesn’t work on an iPhone. Once the child upgrades to an iPhone, you are meant to use parental controls and Screen Time features to manage which apps are allowed and when she can use her device. It seems a good transitional step to the phone would be a way to maintain Schooltime mode on the child’s next device, too.
Instead, by buying into Apple Watch for its Family Setup features, what you’ll soon end up with is a child who now owns both an Apple Watch and a smartphone. (Sure, you could regift it or take it back, I suppose…I certainly do wish you luck if you try that!)
Beyond the overboard embrace of consumerism that is buying an Apple Watch for a child, the biggest complaint I had was that there were three different apps for me to use to manage and view data associated with my daughter’s Apple Watch. I could view her tracked activity was tracked in my Health app. Location-tracking and geofence configuration was in the Find My app. And remotely configuring the Apple Watch itself, including Schooltime, was found in my Watch mobile app.
I understand that Apple built the Watch to be a personal device designed for use with one person and it had to stretch to turn it into a family-tracking system. But what Apple is doing here is really just pairing the child’s watch with the parent’s iPhone and then tacking on extra features, like Schooltime. It hasn’t approached this as a whole new system designed from the ground-up for families or for their expanding needs as the child grows.
As a result, the whole system feels underdeveloped compared with existing family-tracking solutions. And given the numerous features to configure, adjust and monitor, Family Setup deserves its own app, or at the very least, its own tab in a parent’s Watch app to simplify its use.
At the end of the day, if you are letting your child out in the world — beyond school and supervised playdates — the Apple Watch is a solution, but it may not be the best solution for your needs. If you have specific reasons why your child will not get their own phone now or anytime soon, the Apple Watch may certainly work. But if you don’t have those reasons, it may be time to try a smartphone.
Both Apple and Google now offer robust parental control solutions for their smartphone platforms that can mitigate many parents’ concerns over content and app addiction. And considering the cost of a new Apple Watch, the savings just aren’t there — especially when considering entry-level Android phones or other hand-me-down phones as the alternative.
[Apple provided a loaner device for the purposes of this review. My daughter was cited and quoted with permission but asked for her name to not be used.]
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Vista Equity Partners hasn’t been shy about scooping up enterprise companies over the years, and today it added to a growing portfolio with its purchase of Gainsight. The company’s software helps clients with customer success, meaning it helps create a positive customer experience when they interact with your brand, making them more likely to come back and recommend you to others. Sources pegged the price tag at $1.1 billion.
As you might expect, both parties are putting a happy face on the deal, talking about how they can work together to grow Gainsight further. Certainly, other companies like Ping Identity seem to have benefited from joining forces with Vista. Being part of a well-capitalized firm allowed them to make some strategic investments along the way to eventually going public last year.
Gainsight and Vista are certainly hoping for a similar outcome in this case. Monti Saroya, co-head of the Vista Flagship Fund and senior managing director at the firm, sees a company with a lot of potential that could expand and grow with help from Vista’s consulting arm, which helps portfolio companies with different aspects of their business like sales, marketing and operations.
“We are excited to partner with the Gainsight team in its next phase of growth, helping the company to expand the category it has created and deliver even more solutions that drive retention and growth to businesses across the globe,” Saroya said in a statement.
Gainsight CEO Nick Mehta likes the idea of being part of Vista’s portfolio of enterprise companies, many of whom are using his company’s products.
“We’ve known Vista for years, since 24 of their portfolio companies use Gainsight. We’ve seen Gainsight clients like JAMF and Ping Identity partner with Vista and then go public. We believe we are just getting started with customer success, so we wanted the right partner for the long term and we’re excited to work with Vista on the next phase of our journey,” Mehta told TechCrunch.
Brent Leary, principle analyst at CRM Essentials, who covers the sales and marketing space, says that it appears that Vista is piecing together a sales and marketing platform that it could flip or go public in a few years.
“It’s not only the power that’s in the platform, it’s also the money. And Vista seems to be piecing together an engagement platform based on the acquisitions of Gainsight, Pipedrive and even last year’s Acquia purchase. Vista isn’t afraid to spend big money, if they can make even bigger money in a couple years if they can make these pieces fit together,” Leary told TechCrunch.
While Gainsight exits as a unicorn, the deal might not have been the outcome it was looking for. The company raised more than $187 million, according to PitchBook data, though its fundraising had slowed in recent years. Gainsight raised $50 million in April of 2017 at a post-money valuation of $515 million, again per PitchBook. In July of 2018 it added $25 million to its coffers, and the final entry was a small debt investment raised in 2019.
It could be that the startup saw its growth slow down, leaving it somewhere between ready for new venture investment and profitability. That’s a gap that PE shops like Vista look for, write a check, shake up a company and hopefully exit at an elevated price.
Gainsight hired a new chief revenue officer last month, notably. Per Forbes, the company was on track to reach “about” $100 million ARR by the end of 2020, giving it a revenue multiple of around 11x in the deal. That’s under current market norms, which could imply that Gainsight had either lower gross margins than comparable companies, or as previously noted, that its growth had slowed.
A $1.1 billion exit is never something to bemoan — and every startup wants to become a unicorn — but Gainsight and Mehta are well known, and we were hoping for the details only an S-1 could deliver. Perhaps one day with Vista’s help that could happen.
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