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Archivo del Autor: Belen De Leon

Bumble to launch in India before year-end

On the heels of Tinder’s launch of a Bumble-like feature in India, which allows women to initiative the conversations, Bumble is today formally announcing its plans for an expansion into India. The company says it has been building up a local team in the region over the past nine months and defining its strategy. The app will be available later this fall, with marketing spend focused on major metropolitan regions.

Given that it’s already October, Bumble’s Indian arrival is only a matter of weeks at this point. While Bumble won’t commit to an exact launch date, it would say that the launch is planned for sometime before the end of the year.

The Indian market is a critical one, given the sizable population of over 1.3 billion and their rapid adoption of mobile devices. It’s been a battleground for device makers, like Apple, Samsung and Chinese brands, and bumped the U.S. to become the world’s second largest smartphone market last fall. All major tech companies are addressing the market as well, with “liteversions  of apps designed to save data, and other India-specific offerings.

In the dating space, it’s been more challenging for apps like Tinder and others, because of India’s traditional approach to dating and courtships, which in the past has involved concerns around parental acceptance, class differences and pre-arranged marriages. But India is changing. The country’s Supreme Court has been overturning colonial-era laws, and recently decriminalized same-sex relations and adultery, for example.

That’s paved the way for a number of dating apps including an extramarital affairs app Gleeden, matchmaking app Wingman, and LGBTQ dating app Grindr, The Economic Times reported.

Tinder, meanwhile, has established itself in the country to become the highest-grossing Android app, according to App Annie data.

For Bumble’s Indian launch, the company is partnering with actor, philanthropist and entrepreneur Priyanka Chopra (who also recently became engaged to Nick Jonas.) Chopra had worked with Bumble on the launch of Bumble Bizz, its business networking feature, which arrived last October.

“It’s rare to see a brand with this level of reach and relevance maintain a commitment to their values and mission in a manner that has global impact,” said Chopra, in a statement about her involvement in the Indian launch. “I’ve always believed that investing in women is key to social transformation and economic growth, and in working with Whitney and her team over the past year, I’m inspired by the real, positive change Bumble is creating and I’m proud to have the opportunity to contribute to this movement as a partner,” she added.

The Indian version of Bumble will be available in both Hinglish and Hindi for iOS and Android and will include yet-to-be-announced security features, beyond the photo verification and profile moderation offered today.

The move to launch in India comes at a time when Bumble and Tinder are head-to-head in a bitter rivalry. Bumble is now suing Tinder parent Match Group over fraudulently obtaining trade secrets, and Match is suing Bumble over patent infringement. The two companies have been unable to work out these differences and are headed to court.


Source: TechCrunch

MIT, Google, Cisco and USPTO create Prior Art Archive for better patents

The patent system is broken — there are too many ways to list here, really. The problems surrounding prior art are certainly among them, and a team of high profile companies and organizations are joining forces to address some of the these with the Prior Art Archive.

The database is a collaboration between MIT’s Media Lab, Google, Cisco and the United States Patent and Trademark Office, which certainly has the most to gain here. Using the MIT-hosted archive, patent applicants can find easily accessible examples of prior art and other technical information for reference.

“The patent examination process should stop patents from being issued on old or obvious technology,” MIT writes. “Unfortunately, just because technology is old doesn’t mean it is easy for a patent examiner to find. Particularly in the computer field, much prior art is in the form of old manuals, documentation, web sites, etc. that have, until now, not been readily searchable.”

Google also has a blog post detailing its own work with the archive, which mostly revolves around search. The company is also implementing AI and ML technologies to help bolster searches. “To this end,” the company writes, “we’ve recently created an open ecosystem, the Google Patents Public Datasets, to make large datasets available for empirical public policy, economics, and machine learning research.”


Source: TechCrunch

HaptX is bringing touch to VR with a pair of scary-looking gloves and a pneumatic suitcase

I haven’t seen a virtual reality glove system that also includes a suitcase-sized pneumatic box accessory before, but then again there aren’t too many VR peripherals that have delivered quite the depth of immersion that the HaptX system did.

Today, HaptX announced the release of their Gloves development kit that will allow its users to feel pressure and resistance in their virtual reality interactions all while delivering smooth hand-tracking. The company, whose backers include Chinese gaming company NetEase and ex-Twitter CEO Dick Costolo, wants virtual reality experiences to be more than just what people are seeing, they want to drive big improvements to the quality of their physical interactions as well. I had a chance to don the latest HaptX gloves and look like a real VR monster while playing through a demo that highlights some of their device’s capabilities.

The big highlight of the system is the pressure sensitivity it offers, meaning that you can roughly tell what an object feels like when you grab it because little air bubbles are building out the shape of the object inside the gloves. This is the reason there’s a suitcase-sized box filled with pneumatic actuators, which the company says has been rapidly shrinking and will be much smaller by the time the product exits the dev kit phase. Alongside the pressure offered by the 130 feedback points, there’s also a bit of an exoskeleton around your hands designed give your fingers some resistance as you try to close them on solid objects.

To account for the bulkiness of the system and all of the hand-tracking occlusion that would occur as a result, HaptX isn’t using IR cameras to map where your hands are like a system from Leap Motion may. Instead, the startup is using magnetic planar tracking to track the movement and position of your fingers and joints. It’s the same kind of tracking tech used in the Magic Leap remote, but it’s a bit more of a stress test here given just how much is being tracked. The system held up well enough teamed with some Vive trackers to estimate the positions of my arms themselves in VR.

Actually playing around with this was a bizarre sensation, I felt like a mech monster, even when they tossed me into a demo simulation that had me cutting wheat in a barnyard scene and picking up a little fox.

The system definitely worked best with more subtle feedback. When grabbing something absolutely solid like a small rock, I was far less tricked by the glove system than when I was feeling virtual rain hitting the gloves and delivering tapping sensations on my hand at the same rate. Feeling a spider jump on to my hand and all of its legs move across my palm was honestly one of the least pleasant things I’ve experienced in VR and left my spine crawling while I flicked the digital spider off of my very disturbed real body.

It’s all engaging, but who on earth needs something like this?

I found myself wondering that even as we discussed enterprise solutions. HaptX sees their expensive glove system as a peripheral that makes good on a lot of the failed promises of other systems and as something that has some real promise in the prototyping phase for manufacturing or in making workplace training highly realistic. I have tried several other VR gloves and this is definitely the most complete solution, even if it is likely the most bulky and most expensive solution as well — though the company isn’t releasing pricing details on its system yet. If a company is interested in bringing hands into a VR experience and just wants the best possible solution out there regardless of price or complexity, this is probably what they would want to buy.

This isn’t remotely a consumer solution and seems to definitely be a fringe enterprise product in its current iteration but as virtual reality systems begin becoming more commonplace in workplace settings, it’s not unreasonable that these companies are going to want input methods to become more realistic and shift away from controllers towards VR gloves that can translate what people have been trained in more directly. 


Source: TechCrunch

Upwork pops more than 50 percent in Nasdaq debut

Upwork, the rebranded merger of oDesk and Elance, debuted on Nasdaq this morning, after dropping its S-1 about four weeks ago. Shares opened at $23.00, which represents a 53% jump — shares were priced at $15 before the opening bell by investors, a significant uptick from the company’s revised projection of $12 to $14, which was already an increase from its original $10 to $12 target. The stock trades under the ticker UPWK, and the company will fundraise approximately $102 million of new cash for its balance sheet ($187 million total with existing shareholders).

Shares are still currently up 40% compared to their original price.

I talked with Upwork CEO Stephane Kasriel this morning about the IPO road show, in which he said he took approximately 160 meetings with investors. Investors were engaged on the “combination of the strengths of the business and the strengths of the mission,“ and he was clearly excited about the engagement the offering received.

Upwork, whose antecedent companies go back almost two decades, is a positive cash flow business, albeit one growing top line revenue only about 27.6% year over year. Kasriel said that the company should be able to “compound at that rate for decades” due to the growing number of workers who freelance around the world in order to have flexible work arrangements. “When you think about which jobs are being created in the global economy, in most countries it is these knowledge jobs,” he said.

Upwork CEO Stephane Kasriel (Photo from Upwork)

In addition, “When you really take a long term view, what really matters is to be good stewards of capital,” Kasriel noted, and said that the company was very focused on areas like sales and marketing ROI. His goal is to continue to grow the company with limited dilution to shareholders, a message that apparently has been well-received.

As for Kasriel himself, he becomes a public company CEO. He was elevated to the CEO role in 2015 from SVP of Engineering – a somewhat unusual path, even in tech-obsessed Silicon Valley. He emphasized that “we are a tech company,” and noted that every day is a learning experience. “I was just on CNBC, and for introverts, what really scares me is to be on live broadcast TV,” he said.

A huge part of Upwork’s business today is focused on the enterprise, particularly complex workflows that require multiple types of talent. The company’s platform not only handles talent management, but the long array of tasks to manage people: HR, legal, procurement, information security, and others.

According to the company, it will host $1.5 billion worth of gross sales value across two million unique projects. The company estimates that its products are used by 30% of the Fortune 500.

Upwork, which has offices in Mountain View, San Francisco, and Chicago, has 1,500 employees – and as is to be expected – roughly 1,100 of them are freelancers. Kasriel said, “We use our own product, which we call drinking our own champagne.”

Among the major VC investors behind the company are Benchmark, which owned 15%, Sigma Partners, which owned 14.2%, and Globespan, T. Rowe Price, and FirstMark. The company is offering 6,818,181 new shares as well as 5,658,512 shares from existing shareholders. Citigroup, Jefferies, and RBC jointly led the book.

Now that the company has debuted, Upwork wants to refocus once again on its business following weeks of talking to investors. “We need to build this company for the ages,” Kasriel noted, and said that his message to employees was to “focus on the mission.”


Source: TechCrunch

Meet the woman leading Accel’s consumer growth investments

As it approaches its 35th year in the venture capital business, Accel is staying true to its promise to continue passing the torch to the younger generation of investors.

This week, the firm brought on Maya Noeth as a principal, leading its consumer growth investing efforts. Accel typically promotes from within; Noeth is its first outside hire since Amit Kumar joined more than two years ago.

Noeth has an impressive track record. She’s spent the last nine years at TCV, most recently as a vice president of its B2C group, where she invested in Facebook, LinkedIn, Netflix and Spotify, as well as Airbnb, Rent The Runway, Rover and VICE Media.

At Accel, she’ll be writing checks sized between $30 million and $100 million in growth-stage startups focused on digital and social media, subscription e-commerce, gaming and vertical marketing. Noeth and the rest of Accel’s growth team are pulling capital out of the firm’s fourth flagship growth fund, which closed on $1.5 billion in 2016. 

In a conversation with TechCrunch, Noeth explained what she’s looking for in a B2C company.

“At a high level, whenever I meet a new company, I’m interested in how big and attractive the market size is, who the team leading it is — execution is one of the most important attributes of a business — does the business have a great product that is differentiated with great competitive moats, what is the revenue model, what is the financial profile and is it really good unit economics?”

As a new mom, Noeth says she is especially interested in identifying companies in the kids-focused digital media sector.

“I think a lot of people are scratching their heads wondering what is there beyond YouTube Kids,” she said. “There is potential for really disruptive businesses to take over.”

Before joining TCV in late 2009 at the age of 23, Noeth began her career at Morgan Stanley as an investment banking analyst specializing in the technology, media and telecom vertical.

Accel invests in companies at all stages, counting Spotify, Jet and Etsy among its investments. The firm’s recent exits include cybersecurity company Tenable’s summer IPO, Flipkart’s momentous sale to Walmart and Amazon’s nearly $1 billion purchase of PillPack, an online pharmacy startup Accel first backed in 2014.

Accel currently has 11 partners and five principals in the U.S. writing checks. According to PitchBook, it has $10.8 billion of assets under management.


Source: TechCrunch

There's Some Dodgy Physics in Solo: A Star Wars Story

Chewbacca is falling out of a moving train! Han rushes to save him! Turns out, ordinary physics would have saved him, too.
Source: Wired

America’s Clergy Are Teaming Up With Scientists

Scientists and religious leaders joined forces to create programs on neuroscience, cosmology—and even some evolutionary science.
Source: Wired

Fiction Excerpt: A Prince Goes on a High-Tech Job Interview

Something is fishy at Anahata—and it’s not just the giant squid that serves as a mascot for the world’s largest tech company.
Source: Wired

This Lunar Lander aims to be a lifeline for a future Moon colony video – CNET

Plus it could become vital stepping stone for NASA’s mission to Mars.
Source: CNET

Amazon Fire TV Stick 4K streams in Dolby Vision HDR for $50 – CNET

Its new Alexa voice remote now has buttons to control your TV’s volume, power and mute. Watch out, Roku.
Source: CNET

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