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Archivo del Autor: Belen De Leon

'Westworld' Recap, Season 2 Episode 4: More Human Than Human

This week’s episode went in a direction many fans predicted—and planted more explosives in its philosophical minefield.
Source: Wired

Southeast Asia-based mobile listings startup Carousell raises $85M

Carousell, the Singapore-based mobile listing service that operates across Southeast Asia, has pulled in an $85 million Series C fund as it seeks to strengthen its business among the region’s competitive e-commerce landscape before expanding globally.

The round was co-led by existing investor Rakuten Ventures and EDBI, the corporate investment arm of Singapore’s Economic Development Board. Other participants included returning investors 500 Startups, Golden Gate Ventures and Sequoia India as well as new investor DBS, Southeast Asia’s largest bank with over $330 billion in assets.

TechCrunch previously reported that Carousell had agreed on the round last October, when it was $70-$80 million. We understand that it remained opened for strategic investors, before finally closing earlier this year. When asked in October if it had invested in Carousell, DBS said it hadn’t so it potentially came on board recently; Tech In Asia previously reported that EDBI became a Carousell investor in 2017.

This new round means that six-year-old Carousell has now raised over $110 million, according to Crunchbase. It closed a $35 million Series B in October 2016.

“It’s been six years since I made my partners very angry when I decided to do a startup, so it’s great to again get the validation of our investors,” CEO Siu Rui Quek joked in an interview with TechCrunch. “Six years ago it was mobile, now we’re going into an AI-first world [with other challenges such as] how do we make payments a lot more frictionless.”

Carousell’s core business is a consumer-to-consumer sales which, like a listings site, lets people sell unwanted items to each other. To date, the platform has helped sell over 50 million items and today it has 144 million listings. In recent years, it has fanned out to offer more verticals that include cars, property, jobs, services and finance.

The primary C2C portion of the business remains free, but the company has begun to monetize over the past several quarters, Quek explained.

Its revenue streams include advertising and partnerships — such as financial services and travel insurance — promoted listing and ‘spotlight’ ads for sellers, cost per click ads, and certain premium verticals, including automotive, real estate and more.

Living with e-commerce giants

While its offering is different since it centers around person-to-person sales, Carousell more generally competes with e-commerce unicorns Alibaba-owned Lazada, Sea’s Shopee, and Alibaba’s Aliexpress, as well as Tokopedia (yup, also funded by Alibaba) in Indonesia.

Quek said, however, played up the role of these straight-up e-commerce firms.

“They serve an important part of the system, they’re very complementary,” he explained. “For example, when Lazada runs a big sale, we’re quite happy because people will have unwanted items or things to sell later.”

“Lots of e-commerce guys have come [to Southeast Asia] but we continue to grow,” he added.

Figuring out just how large Carousell is in Southeast Asia isn’t all that easy. The company doesn’t talk about GMV. Quek said the number isn’t relevant — it doesn’t take payment for consumer-to-consumer sales, and advertising/services are major income streams — although sources last year suggested Carousell’s GMV could be around $5 billion.

Considering Carousell business is different to the others, that number is impressive. Shopee claimed $1.6 billion GMV during its most recent quarter — which would be $6.4 billion annually — while Lazada no longer reveals its figures but claims to be larger.

Back to topics that Carousell does talk about, and global expansion remains something of interest to the team — which hails from Singapore’s NUS; making them arguably Singapore’s first home-grown startup.

“We do have global ambitions as a company, but the focus is really still cementing our leadership in Southeast Asia. It’s such an exciting region, it’s still nascent and there’s still a lotto work for us to do in the grand scheme of things,” said Quek.

That discussion about moving outside of the region is likely to happen in “the next year or so,” he added.

Hiring is the single biggest challenge

For now though, Carousell is focused on growing its position in Southeast Asia, and in particular expanding its premium offerings — automotive, real estate and partnerships — beyond Singapore and into markets like Indonesia, the world’s fourth most populous country, and Thailand. The startup is also keen to grow its engineering chops, especially around AI which helps it match buyers and sellers.

“Hiring is extremely difficult,” Quek explained. “The single biggest focus for me and my team is going back into the weeds to find great talent. We already have over 100 product engineers covering 19 nationalities, we’ve got to bring people in from across the world.”

Beyond an HQ in Singapore, Carousell has been pragmatic in opening up offices where it can find talent. There’s a team of 20 in Taiwan and a small office of 10 engineers in Vietnam, too, while it has made three acquihires to bring in talent and expand its business. Those have been case-by-case, Quek said, so we shouldn’t expect the company to necessary go out and make more acquisitions following this new round of investment.

“Acquisitions are not a specific stream we’re deliberate about at this point – -but we’re definitely keen to see if opportunistic acquisitions might come about,” he said.

Finally, with Carousell now one of Singapore’s best-funded local startups — with influential bank DBS on its side, too — there’s likely to be talk about potential exits. Sea, formerly Garena, held a rare Southeast Asia IPO in the US last year, and Hong Kong is heating up as a tech listing destination with the likes of Xiaomi and Singapore’s Razer filing there.

For now, though, Quek said that isn’t a thought he or his team are giving time to.

“There are no plans for an IPO, we’re still super excited about the long-term opportunities and building on the mission,” he said. “We always say we are less than one percent done.”


Source: TechCrunch

Acura's RDX Comes With an Easy-to-Use Infotainment System

The 2019 RDX SUV comes with a ‘True Touchpad’ interface that takes the best parts of touchscreens and touchpads, to make life on the road easier than ever.
Source: Wired

Walmart’s deal to buy Flipkart came with an interesting caveat

Retail giant Walmart, which earlier this week announced it paid $16 billion for a 77 percent stake in the Indian e-commerce company, Flipkart Group, could have to take Flipkart public within four years, shows a public filing that was reported on earlier by Reuters.

Specifically, the filing states that, “acting together,” holders of 60 percent of the Flipkart shares held by the company’s minority shareholders, may require Flipkart to stage an IPO following the fourth anniversary of the deal’s official close — and at a valuation that’s “no less” than that paid by Walmart under its current agreement, which is $20.8 billion.

The caveat is a highly unusual one as far as we can tell — an apparent insurance policy for earlier investors who were concerned about giving away too much upside by selling so many of their shares now to Walmart.

Some of the company’s minority shareholders following Flipkart’s tie-up with Walmart include Tencent Holdings, Tiger Global Management, Microsoft, and company cofounder Binny Bansal, who, according to the Economic Times, sold $104 million in shares but held on to a 4.2 percent stake. (Bansal is staying on with the company as a group CEO while his cofounder, Sachin Bansal, is leaving with at least $1 billion, according to regional outlets. Some of are more newly suggesting that he didn’t have much choice in the matter, either.)

Another of Walmart’s minority shareholders is SoftBank, whose CEO, Masayoshi Son, preempted Walmart itself by announcing the deal to reporters and analysts last Monday while discussing SoftBank’s quarterly results.

Son also suggested that SoftBank would see a sizable return on its initial investment of $2.5 billion, which SoftBank poured into Flipkart last year. (Told while still discussing SoftBank’s earnings that no announcement had been made by Walmart, he told reporters the equivalent of: “Oops. I already said it.”)

Now the Economic Times is reporting that SoftBank might not be selling its shares after all. According to its sources, the Japanese giant is “still figuring out the tax liability that would arise if it sold its shares less than a year after investing in Flipkart. Further, it sees a significant upside potential in Flipkart.”

SoftBank owns 21 percent of Flipkart.

Currently, both Amazon and Flipkart control a respective 35 percent of India’s e-commerce market, which is estimated to be a $30 billion market today but poised to grow into a $200 billion market within the next 10 years.

Amazon had reportedly also offered to buy a stake in Flipkart before Walmart announced its own pact with the company, a deal that is expected to close later this year.


Source: TechCrunch

Westworld recap: Best episode yet shows us who the Man in Black and Delos truly are – CNET

Delos Incorporated wants your DNA, your mind, your brains, your heart and all of your data. Sound like another company we know?
Source: CNET

Facial-recognition software inaccurate in 98% of cases, report finds – CNET

Metropolitan Police in the UK have had sketchy results with the crime-fighting tool.
Source: CNET

Malaysia's fake-news law is here to stay, new PM says – CNET

Mahathir Mohamad was targeted by the fake-news law just weeks ago, but the new prime minister says it’s a matter of amend, not abolish.
Source: CNET

Protesters fill Moscow to oppose Russia's ban of Telegram messenger – CNET

Around 20 protesters were detained by authorities.
Source: CNET

Nintendo brings NES Classic back to stores in June – CNET

For those of you who didn’t pick up the NES Classic first time round, it’s being reissued and will be available in stores June 29.
Source: CNET

Here are all the robots we saw at TC Sessions: Robotics

Robots are coming. Are they overlords or friendly companions designed to help us perform the mundane tasks of our respective days? Perhaps it’s both. Whatever the purpose, they’re no longer part of some vague future we can’t quite fathom. They’re here now, and we got to meet a few of them at TC Sessions: Robotics at UC Berkeley.

Boston Dynamics

Boston Dynamics CEO Marc Raibert announced onstage that the company’s 66-pound SpotMini robot will be available for purchase by the normals in 2019. Yes, one day you, too, will be able to have a dog robot perform services for you at the office or home.

 

Mayfield Robotics

This cute little robot from Mayfield Robotics can blink, play music, turn its head and recharge itself. It can also just stay put to take pictures of you and live-stream your daily life. Yep. It watches you. Its name is Kuri and it can be your little buddy to always remind you that you never have to be alone.

Agility Robotics

Agility Robotics’ bipedal humanoid robot was designed with bird legs in mind. But it wasn’t yet designed with arms. The company’s CTO Jonathan Hurst says those are to come. It’ll cost you $35,000 when it’s in full production mode. Custom deliveries started in August 2017 to a select few universities — University of Michigan, Harvard and Caltech, and Berkeley just bought its own.

Although we didn’t see an example of this application, Cassie can apparently hold the body weight of a reasonably sized human. No thanks. Below you can see Cassie make an appearance with Andy Rubin .

RoMeLa

Dennis Hong, professor and founding director of RoMeLa (Robotics & Mechanisms Library) of the Mechanical & Aerospace Engineering Department at UCLA, presented the humanoid robots he and his team developed in their lab. They set out to solve a common problem robots have: walking.

Humans are bipedal, so why is it so hard to replicate that in a robot, Hong asks. One of the reasons he said is because the distance between the left and right legs creates a twisting movement that renders forward and backward movement difficult. The resolution is to have them walk sideways. No twisting. So the team developed NABi (non-anthropomorphic biped), a bipedal locomotion robot with no “feet” or “shins.”

To extend the admittedly limited functionality of NABi, the team then created ALPHRED (Autonomous Legged Personal Helper Robot with Enhanced Dynamics). ALPHRED’s limbs, as the team calls them (“not legs, not arms”), form to create multimodal locomotion, because of its multiple types of formations. Depending on the type of movement required of the robot, the limbs change configurations to that of a dog or a horse, or to more of a humanoid, bipedal type.

SuitX

SuitX develops robotic modules that assist humans in performing everyday actions, such as walking, lifting, bending over and squatting. While you won’t suddenly possess the strength and agility of a Marvel superhero, wearing these modules can help you lift things that are ever-so-slightly heavier than you might be used to. The BackX, LegX and ShoulderX serve to minimize the stress we humans tend to place on our joints.

But infinitely more impressive during the conversation with company co-founder Homayoon Kazerooni was the application the audience saw of the company’s exoskeleton. Arash Bayatmakou fell from a balcony in 2012 which resulted in paralysis. He was told he would never walk again. Five years later, Arash connected with SuitX, and he has been working with a physical therapist to use the device to perform four functions: stand, sit and walk forward and backward. You can follow his recovery here.


Source: TechCrunch

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