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Archivo del Autor: Belen De Leon

Real estate upstart Compass acquires part of shopping app Spring, including 20+ engineers and CTO

After raising $400 million in September in a round that valued it at $4.4 billion, the real estate startup Compass is making an acquisition to help it double down on growth: it is acquiring a portion of Spring, the mobile-first fashion shopping app that has raised more than $100 million since 2014, to work on parts of Compass’s AI-based real estate platform, which provides a marketplace to post properties for sale and rental across the US and soon other countries.

Compass and Spring are not disclosing the financial terms of this deal. When Spring last raised money in May 2017 — $65 million led by Fidelity — it was valued at nearly $152 million, according to PitchBook.

Compass is just one of Spring’s buyers: it is taking on an undisclosed element of the business (enough that Compass was clear to describe this a ‘strategic acquisition’), including Spring CTO Satwik Seshasai, director of engineering Jim Grandpre, and some 20 others from its engineering team. But at the same time, we have learned that the other part of Spring will be going to another buyer, Shoprunner, the Alibaba-backed shopping app that has ambitions to take on Amazon.

“Spring was founded on the belief that consumers were looking for a better online shopping experience, a single destination where they could find all their favorite brands,” said Seshasai in a statement. “In a similar way, Compass is embracing the digital future and revolutionizing a legacy industry with agent satisfaction at its focus. I am thrilled to help Compass grow its technology platform as it continues to be a leading disruptor in the real estate industry.”

Seshasai will become Compass’s senior director of growth infrastructure, and Compass said that the team it’s acquiring will be deployed alongside Compass’s existing team of engineers and other areas of the business “to help accelerate its technology roadmap and develop technologies that enhance the agent experience.” They will work under and with Compass’s VP of engineering, Priyendra Deshwal, and head of product, Eytan Seidman, and an existing team of 120+ technical staff.

Compass has built itself to become a very slick site focussing on high-end properties and customers, but under the surface it is a very well-oiled tech beast: it was co-founded by ex-banker Robert Reffkin and Ori Allon, and Allon is an engineering whiz who had built and sold search businesses to Google and then Twitter (respectively helping each of them build their earliest search algorithms). 

“The team at Spring built a service-oriented brand and technology platform that attracted 2,000 of today’s top retailers,” said Ori Allon, Compass Founder, and Executive Chairman, in a statement. “At Compass, we believe in investing in top talent which is why we welcome the opportunity to bring members of the Spring team on board. Our new Compass colleagues will execute against and innovate on ways to build the end-to-end real estate platform with real-time insights and technologies that will redefine the industry.”

When Spring first sprouted up in 2014, many thought its mobile-only approach — providing a marketplace for labels and shops that finally made buying and checking out from the virtual store as easy as swiping right — would help it steal a march on the world of online fashion. Indeed, we described it at the time as the “Instagram of shopping.”

However, over time it appeared to expand what it was doing in an effort to scale — adding a web site and working with retailers as well — which diluted its pitch to brands that had hoped for a more direct relationship with consumers. And on top of that, you could argue that Instagram itself has taken on the task of becoming the “Instagram of shopping.”

The Shoprunner part of the Spring deal has been rumored for the last month. A report in Recode that broke the news seemed to imply that Spring had failed to be able to scale its business, despite its funding and the expansion of its business.

 


Source: TechCrunch

Alienware’s sleek new M15 offers the power without the extra padding

Want the power of an Alienware laptop but hate the bulk? This year’s Alienware M15 is slimmer than previous notebooks and significantly lighter than last year’s model, and it starts shipping today at a starting price of $1,379.

The post Alienware’s sleek new M15 offers the power without the extra padding appeared first on Digital Trends.


Source: Digital trends

To Fix the Ills of Tourism, Think Like a Traffic Engineer

Exploding global tourism is becoming a mess, and the way to fix it involves thinking about people like cars.
Source: Wired

How to Make Your Commute as Cheap and Fast as Possible

There’s more to it than just optimizing gas mileage. Our calculator will help you figure out the most cost-effective driving speed, personalized to your commute, wages, and fuel price.
Source: Wired

I Bought Used Voting Machines on eBay for $100 Apiece. What I Found Was Alarming

Opinion: The fact that voter information is left on devices, unencrypted, that are then sold on the open market is malpractice.
Source: Wired

Twitter beats Wall St Q3 estimates with $758M in revenue

Twitter came in ahead of analysts’ financial estimates in its third quarter, reporting $758 million in revenue (a 29 percent year-over-year increase) and earnings per share of 21 cents.

Analysts had predicted revenue of $703 million and EPS of 14 cents per share. Ad revenue was also up 29 percent, to $650 million, and Twitter says total ad engagements increased 50 percent year over year.

However, user growth didn’t quite match expectations, with 326 monthly active users, lower than predictions of 330 million, and also a decline from the same period last year, when Twitter had 335 million MAUs.

In the earnings release, the company says its user growth was “impacted by a number of factors including: GDPR, decisions we have made to prioritize the health of the platform and not move to paid SMS carrier relationships in certain markets, as well as a product change that reduced automated usage and a technical issue that temporarily reduced the number of notifications sent.”

Twitter MAU

In a statement, CEO Jack Dorsey similarly suggested that the company has been focusing on the “health” of the community, rather than pursuing growth at all costs.

“We’re achieving meaningful progress in our efforts to make Twitter a healthier and valuable everyday service,” Dorsey said. “We’re doing a better job detecting and removing spammy and suspicious accounts at sign-up. We’re also continuing to introduce improvements that make it easier for people to follow events, topics and interests on Twitter, like adding support for U.S. TV shows in our new event infrastructure. This quarter’s strong results prove we can prioritize the long-term health of Twitter while growing the number of people who participate in public conversation.”

While Twitter still attracts plenty of criticism for its approach to safety, harassment and misinformation (it was slower than the other major online platforms to ban Alex Jones and Infowars, for example), it has taken steps in the past few months to suspend accounts that were “engaging in coordinated manipulation,” as well as those who tried to get around previous suspensions.

The company says that the average number of daily active users actually increased 9 percent year-over-year, and the investor relations account tweeted that “DAU growth continues to be the best measure of our success in driving the use of Twitter as a daily utility.”

As of 7:55am Eastern, Twitter shares were up nearly 15 percent in pre-market trading.


Source: TechCrunch

Twitter sees another drop in users amid fake-account crackdown – CNET

CEO Jack Dorsey says Twitter’s doing a better job cleaning up suspicious activity.
Source: CNET

Red Dead Redemption 2 review: An incredible Western that will deliver months of open-world adventure – CNET

Rockstar’s ultra ambitious Western saga raises the bar for open-world storytelling experiences by creating a game that will likely go down as a generational milestone.
Source: CNET

Twitter testing conversation starters, Google making personal data discovery easier video – CNET

Today’s most important tech stories include Twitter’s testing of two new features, Google making personal data discovery that much easier and Red Dead Redemption 2’s developer under new scrutiny over its “crunch” culture.
Source: CNET

Apple picks Thailand for its second retail store in Southeast Asia

Apple continues to increase its efforts in Southeast Asia’s fast-growing market after it picked Thailand as the location for its second Apple Store in the region.

A post on Apple’s website reveals that it will operate a retail store at the soon-to-open Iconsiam which is set to become Bangkok’s largest mall when it opens next month. The Apple Store is set to open its doors on November 10. An Apple representative confirmed to TechCrunch that the details on the website are indeed accurate.

The new store follows the opening of an Apple Store in Singapore last year, which marked the U.S. firm’s first official brick and mortar presence in Southeast Asia, a region of 650 million consumers that has more internet users than the U.S. population.

Apple doesn’t break out sales figures for Southeast Asia. The region is part of the ‘rest of Asia Pacific’ bracket which excludes Japan and China and accounts for around six percent of Apple’s global revenue.

That is a drop in the proverbial ocean for Apple, but Southeast Asia is one of the few parts of the world where smartphone sales continue to grow at a double-digit percentage. With its devices accounting for a minor share of the region’s markets, primarily due to pricing and a lack of carrier subsidies, it makes sense that Apple is stepping up its retail focus.

The Iconsiam mall which will house Bangkok’s first Apple Store is still under construction but scheduled to open next month

Apple’s official presence in Asia had been limited to China, Hong Kong and Japan until recent times when it opened stores in Korea, Taiwan and Singapore. TechCrunch understands from sources within the real estate industry that Apple is considering Indonesian capital Jakarta and Vietnam as its next store launch markets in Southeast Asia. It intended to open the Thai store as soon as last year but struggled to find a location that it deemed to be fitting for its store, we understand.

Right now, most countries in Southeast Asia are served by ‘licensed’ Apple stores from third-parties, unofficial retailers, Alibaba-owned e-commerce service Lazada and Apple’s own online store. Outside of the region, it has long tried to bring its iconic stores to India, but regulations on operating physical stores have hampered its progress.


Source: TechCrunch

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