A joke urging people to invade the mysterious Nevada facility this weekend has turned into multiple festivals.
Source: CNET
Take a few minutes to make sure your iOS 13 update goes smoothly.
Source: CNET
Zuckerberg has been meeting with several US lawmakers this week.
Source: CNET
The Google Artist in Residence is working with the company’s AR/VR team to digitally capture her new installation as a rainbow-hued depth map.
Source: Wired
CEO Jeff Bezos unveiled ambitious plans to reduce his company’s carbon footprint. But some workers say the efforts don’t go far enough.
Source: Wired
What will the Pixelbook 2 be like? Google hasn’t announced it, but thanks to rumors and leaks, we think we have a pretty good idea of what to expect from the potential new flagship Chromebook.
Source: Digital trends
The super apps WeChat and Alipay became an integral part of the Chinese mobile ecosystem, growing to more than 1 billion monthly active users (MAU) and 1 billion annual active users (AAU), respectively. They both offer services from food delivery and bike sharing to a full suite of financial services such as payment, insurance and investments.
Now, companies from around the world are trying to replicate the successful Chinese model in their region. And Latin America is an especially compelling region for the emergence of super apps, due to its vast population, almost 650 million, distributed in more or less similar countries regarding language, culture and religion. It also has a mobile-first population with 62% of smartphone penetration, according to GSMA data.
After the incredible success of WeChat and Alipay, many companies around the world decided to replicate their model in different regions. Due to the proximity to China and its influence and money, Southeast Asia was one of the first regions in which super apps started to appear. The Singaporean ride-hailing Grab and the Indonesian Go-Jek both raised billions of dollars to not only successfully block the expansion of Uber in the region but also to expand their portfolio of services provided beyond ride-hailing to food delivery, payments and other services.
Note that not all super apps are the same.
In India, payTM is expanding beyond its core service and positioning itself to be the leading player in the country, especially after Tapzo was acquired by Amazon last year and closed.
It is interesting to note that not all super apps are the same. Alipay came from the e-commerce Alibaba and is more focused on financial services, while WeChat started as a messenger app, expanding not only to financial services but also to daily services such as e-commerce, gaming, travel and many others. In Southeast Asia, Go-Jek and Grab started as ride-hailing, expanding to delivery before going to financial services, and payTM started as a prepaid recharge mobile platform and then moved to offer a range of financial and daily services.
Latin American super apps should develop themselves in their own particular way, as the environment in the region is quite different from the one in China.
The internet ecosystem in the region is highly influenced by European and American tech companies that dominate segments such as communication, music, search and many others. It is quite hard for a local startup to compete in those markets. However, there are a few battlegrounds that are not as easy to dominate from abroad, such as ride-hailing, food delivery and finance. Those are on-the-ground or highly regulated industries that are very hard to scale, especially across different countries. Those are precisely the industries in which we have seen the emergence of some super apps candidates, fueled by an unprecedented amount of venture capital investment in the region.
The most prominent candidate to super app in the region is the Colombian on-demand delivery Rappi. It is one of the most funded startups in Latin America, backed by titans such as Sequoia, Andreessen Horowitz and SoftBank, which have poured US$ 1.4 billion in investments so far. Although it started offering just food delivery, it now provides services such as e-scooter, payments, P2P transfer, movie theater tickets and a debit card. It also operates in the most relevant countries in the region: Brazil, Mexico, Colombia, Argentina, Chile, Uruguay and Peru.
Another strong candidate is the financial side of the e-commerce behemoth Mercado Libre (MELI), Mercado Pago. It started as a way to enable payment between users in the marketplace; however, it grew to offer a diverse portfolio of financial services such as online and offline payment, bill payments and, more recently, investment (through its Mercado Fondo). Thanks to its parent company, it’s pretty much all over Latin America, and processes around 400 million transactions annually.
The Brazilian Movile is also positioning itself as a strong competitor. The company already has a diverse portfolio of services, from delivery food to event tickets, courier and even a kids Netflix, operating in Brazil, Mexico, Colombia and Argentina. Not only did it raise a total of US$395 million investment, but also one of its companies, iFood, raised a total of US$592 million.
Latin America is an especially compelling region for the emergence of super apps.
The Spanish Cabify is another company trying to position itself as a super app. It recently started to offer e-scooters and bike service, as well as financial services through its own fintech company, Lana. Even though it raised US$477 million in funding, it will be hard for Cabify to become a super app, as the ride-hailing competition is getting quite intense in the region. Its competitors Uber and Didi are also adding more services and trying to position themselves.
An interesting potential competitor would be Nubank, the Brazilian decacorn (private companies with more than US$10 billion of valuation). It already has more than 8 million customers in Brazil and is starting to expand in the region to Mexico, Argentina and Colombia. Although Nubank still only offers traditional financial services, it has Tencent as a significant investor and has raised US$1.1 billion, so far. Therefore, it would be no surprise if it decides to follow a similar path as WeChat.
Also, in Brazil, Banco Inter (BIDI11) recently launched a marketplace to expand the offer to its customers beyond financial services to e-commerce, travel and more. The challenger bank is already a public company with around US$7 billion valuation, but it is now backed by SoftBank after its latest share offer.
Those are the most well-positioned candidates to be super apps in Latin America. Even so, other players could surprise, such as Magazine Luiza, leading retail and e-commerce in Brazil. Its CEO is transforming the company from a brick-and-mortar retail to a technology company and already showed its ambition to transform MagaLu (its app) into a super app offering many other services. Although it could compete in the Brazilian market, it would be doubtful that it becomes a regional player, as its primary business operates only in Brazil.
We are starting to see the rise of the super apps in Latin America, but they will not follow the Chinese path as the markets are very different. A better comparison could be with the Southeast Asian players as the markets are more similar; however, Latin American’s super apps will probably be the result of the unique environment in the region.
As more companies are looking into the Chinese success stories, we will probably see even more players competing to become the Latin American super app. The venture capitalists are already placing their bets on who will become the leading players in Latin America. One thing is certain: It will be exhilarating to see how the market unfolds in the region — the customers will be the true winners in this battle.
Source: TechCrunch
Twitter’s controversial “Hide Replies” feature, aimed at civilizing conversations on its platform, is launching today in the U.S. and Japan after earlier tests in Canada. The addition is one of the more radical changes to Twitter to date. It puts people back in control of a conversation they’ve started by giving them the ability to hide those contributions they think are unworthy.
These replies, which may range from the irrelevant to the outright offensive, aren’t actually deleted from Twitter. They’re just put behind an extra click.
That means people who come into a conversation to cause drama, make inappropriate remarks or bully and abuse others won’t have their voices heard by the majority of the conversation’s participants. Only those who choose to view the hidden replies will see those posts.
Other social media platforms don’t give so much power to commenters to disrupt conversations. On Facebook and Instagram, for example, you can delete any replies to your own posts.
But Twitter has a different vibe. It’s meant to be a public town square, where everyone has a right to speak (within reason.)
Unfortunately, Twitter’s open nature also led to bullying and abuse. Before today, the only options Twitter offered were to mute, block and report users. Blocking and muting, however, only impact your own Twitter experience. You may no longer see posts from those users, but others still could. Reporting a tweet is also a complicated process that takes time. It’s not an immediate solution for a conversation rapidly spinning out of control.
While “Hide Replies” will help address these problems, it ships with challenges of its own, too. It could be used as a way to silence dissenting opinions, including those expressed thoughtfully, or even fact-checked clarifications.
Twitter believes the feature will ultimately encourage people to better behave when posting to its platform.
“We already see people trying to keep their conversations healthy by using block, mute, and report, but these tools don’t always address the issue. Block and mute only change the experience of the blocker, and report only works for the content that violates our policies,� explained Twitter’s PM of Health Michelle Yasmeen Haq earlier this year.
Since launching in Canada in July, Twitter said that people mostly used the feature to hide replies they found were irrelevant, abusive or unintelligible. User feedback was positive, as well, as those who used the tool said they found it was a helpful way to control what they saw, similar to keyword muting.
In a survey, 27% of those who had their tweets hidden said they would reconsider how they interact with others in the future, Twitter said. That’s not a large majority, but it’s enough to make a dent. However, it’s unclear how representative this survey was. Twitter declined to say how many people used the feature or how many were surveyed about its impacts.
The system will now also ask users who hide replies if they also want to block the account, as a means of clarifying that “hiding” is a different function.
“These are positive and heartening results: the feature helped people have better conversations, and was a useful tool against replies that deterred from the person’s original intent,” explained Twitter in a blog post, shared today. “We’re interested to see if these trends continue, and if new ones emerge, as we expand our test to Japan and the U.S. People in these markets use Twitter in many unique ways, and we’re excited to see how they might use this new tool,” the post read.
Despite the expansion, Twitter says “Hide Replies” is still considered a test as the company is continuing to evaluate the system, and it’s not available to Twitter’s global user base.
The new feature will start rolling out at 2 PM PT in both the U.S. and Japan and will be available across mobile and web clients.
Source: TechCrunch
Postmates, the popular food delivery service, has raised another $225 million at a valuation of $2.4 billion, the company confirmed to TechCrunch on Thursday, ahead of an imminent initial public offering.
Private equity firm GPI Capital has led the investment, first reported by Forbes, which brings Postmates’ total funding to nearly $1 billion. GPI takes non-controlling stakes — between 2% and 20% — in both late-stage private companies and publicly listed ventures.
After tapping JPMorgan Chase and Bank of America to lead its float, Postmates filed privately with the Securities and Exchange Commission for an IPO earlier this year. Sources familiar with the company’s exit plans say the business intends to publicly unveil its IPO prospectus this month.
To discuss the company’s journey to the public markets and the challenges ahead in the increasingly crowded food delivery space, Postmates co-founder and chief executive officer Bastian Lehmann will join us onstage at TechCrunch Disrupt on Friday October 4th.
As Forbes noted, last-minute financings are critical for companies poised to run out of cash and in need of an infusion prior to hitting the public markets. The motives for Postmates’ last-minute financing are unclear; however, the company will certainly begin trading on the stock market at an interesting time. 2019 has proven to be the year of unicorn listings, and former Silicon Valley darlings like Uber and Lyft have struggled to stabilize since their multi-billion-dollar debuts, despite years of support and coddling from venture capitalists.
Meanwhile, activity in the food delivery space has distracted from Postmates’ prospects. DoorDash, for one, recently purchased another food delivery service, Caviar, from Square in a deal worth $410 million. Uber is said to have considered buying Caviar, which had been looking for a buyer at least since 2016, according to Bloomberg. Postmates, for its part, has long been the subject of M&A rumors.
On-demand food delivery, undeniably popular, has yet to prove its long-term viability as a money-making business. At the very least, a sizeable check from a private equity firm ensures Postmates has the capital it needs, for the time being, to accelerate growth and double down on its autonomous robotic delivery ambitions.
Founded in 2011, Postmates is also backed by Spark Capital, Founders Fund, Uncork Capital, Slow Ventures, Tiger Global, Blackrock and others.
Source: TechCrunch
Transportation startup Lime is shutting down LimePod, its car-sharing service that it launched last November in Seattle. Lime plans to start removing its vehicles from the streets of Seattle next month and will completely shut down the service by the end of the year. The news was first reported by GeekWire.
Lime has operated a pilot program in Seattle since last year and is set to conclude at the end of the year. Throughout the program, more than 18,000 people took more than 200,000 trips in LimePods, according to a Lime spokesperson. At launch, the plan was to explore carsharing for short distances and eventually replace its vehicles with an all-electric fleet. Lime, however, is not looking to make LimePods a permanent fixture of the city at this point.
“While the program was a great learning experience, at our core, we are an electric mobility company first,” Lime wrote in an email to LimePod users. “We are committed — like Seattle is — to sustainability, lower carbon emissions, and to make cities more livable, all of which require reduced car travel.”
Additionally, Lime said it was not able to find the right partner for its LimePod’s electric fleet, which led to the decision to end the program at the end of the pilot period.
“We deeply appreciate our partnership with the Seattle community and the opportunity to collaborate on our LimePod Pilot Program,” a Lime spokesperson told TechCrunch. “The experience is a testament to the city’s forward-looking position on the future of transportation and the necessity of sustainable options for citizens. We are similarly committed to that goal and the information gained during our pilot will support the work necessary should we decide to expand and improve this service with an all-electric fleet in the future.”
Lime, which got its beginnings as a bike-share company, has deployed its scooters and bikes in more than 100 cities in the U.S. and more than 20 international cities. Recently, Lime hit 100 million rides across its micromobility vehicles. Clearly, Lime sees more of a future with shared bikes and scooters than it does with cars.
Earlier this year, Lime raised a $310 million Series D round led by Bain Capital Ventures and others. That round valued the startup at $2.4 billion.
Source: TechCrunch