Justin Kan opens up (Part 1)

I am a chaplain trying to understand the tech world, and to me, that means I need to understand people like Justin Kan.

Who, after all, most “represents tech?” There are the obvious answers: secular deities like Bill Gates, Elon Musk or the late Steve Jobs. Or there are the often-marginalized figures on whom I’ve often preferred to focus in writing this column: the immigrant women of color who built the industry’s physical infrastructure; social workers and feminist philosophers who study how tech really works on a subconscious level, and how to fix it; or the next generation of leaders who represent the future of tech even as they worry about the inequalities they themselves embody.

But you can’t understand what has come to be the power and mystique of tech without also understanding the minds of its enigmatic founders. Justin Kan is a serial entrepreneur and founder who, whether you appreciate his public voice or not, certainly stands out as one of the most interesting examples of that classic Silicon Valley archetype: a tech entrepreneur ostensibly doing much more than just selling technology.

Kan famously started his business career not long after he graduated from Yale in 2005 by creating Justin.tv, a tech platform from which he broadcast his own life 24/7. Fifteen years later, Kan’s original idea seems quaint, given the level of self-promotion and oversharing that’s become commonplace. And yet, as he was arguably the first person to turn surveillance capitalism into not only overt performance art but also a noteworthy career in startups and venture capital, one can’t help but take the idea of Justin Kan seriously, at the very least as a harbinger of what is to come.


Source: Tech Crunch

What Nutanix got right (and wrong) in its IPO roadshow

Back in 2016, Nutanix decided to take the big step of going public. Part of that process was creating a pitch deck and presenting it during its roadshow, a coming-out party when a company goes on tour prior to its IPO and pitches itself to investors of all stripes.

It’s a huge moment in the life of any company, and after talking to CEO Dheeraj Pandey and CFO Duston Williams, one we better understood. They spoke about how every detail helped define their company and demonstrate its long-term investment value to investors who might not have been entirely familiar with the startup or its technology.

Pandey and Williams reported going through more than 100 versions of the deck before they finished the one they took on the road. Pandey said they had a data room checking every fact, every number — which they then checked yet again.

In a separate Extra Crunch post, we looked at the process of building that deck. Today, we’re looking more closely at the content of the deck itself, especially the numbers Nutanix presented to the world. We want to see what investors did more than three years ago and what’s happened since — did the company live up to its promises?

Plan of attack


Source: Tech Crunch

This Week in Apps: Apple’s record quarter, dating apps under investigation, Byte launches to problems

Welcome back to This Week in Apps, the Extra Crunch series that recaps the latest OS news, the applications they support and the money that flows through it all.

The app industry is as hot as ever with a record 204 billion downloads in 2019 and $120 billion in consumer spending in 2019, according to App Annie’s recently released “State of Mobile” annual report. People are now spending 3 hours and 40 minutes per day using apps, rivaling TV. Apps aren’t just a way to pass idle hours — they’re a big business. In 2019, mobile-first companies had a combined $544 billion valuation, 6.5x higher than those without a mobile focus.

In this Extra Crunch series, we help you keep up with the latest news from the world of apps, delivered on a weekly basis.

This week, Apple released earnings and gave us hints about the power of its wearables market. Congress as begun investigating top dating apps. Google’s App Maker announced a shutdown is coming. The iPad turned 10 and people discussed where it’s going wrong.

We also take a look at Byte, the so-called Vine reboot. I’m not impressed. Not only did Byte launch with a comment spam problem, including pornbots, it’s also heavily filled with adult and sometimes dark humor. This includes videos featuring dick jokes, sex toys, drugs and jokes about child abuse, despite a 12+ age rating and many users who appear to be children.

Headlines

Apple reports blockbuster earnings, details the growth of wearables


Source: Tech Crunch

Two-year-old Indian edtech startup Doubtnut raises $15M

Doubtnut, a Gurgaon-based startup that operates an app to help students learn and master concepts from math and science using short videos, has raised $15 million in a new financing round as it looks to serve more people in small cities and towns of the country.

The financing round, Series A, was led by Chinese giant Tencent. Existing investors Omidyar Network India, AET, Japan and Ankit Nagori (founder of fitness startup Cure.Fit), and Sequoia Capital India also participated in the round, the two-year-old startup said.

Doubtnut, part of Sequoia Capital India’s Surge accelerator, has raised $18.5 million to date, and its new financing round valued it at about $50 million, a person familiar with the matter said.

The app allows students from sixth grade to high-school solve and understand math and science problems in local languages. Doubtnut app allows them to take a picture of the problem, and uses machine learning and image recognition to deliver their answers through short-videos.

A student can take a picture of the problem, and share it with Doubtnut through its app, website, or WhatsApp and get a short video that shows the answer and walks them through the procedure to tackle it.

Doubtnut said it has amassed over 13 million monthly active users across its website, app, YouTube, and WhatsApp . More than 85% of Doubtnut users today come from outside of the top 10 cities in India, said Tanushree Nagori, co-founder of Doubtnut. She said that more than half of these students have come online in the last one year.

“Doubtnut is truly democratizing education across India. Our user base reflects the entire demography of India, something which no other education app in the country has come close to achieving,” she said.

The growth of Doubtnut represents the emergence of a wave of startups in India that are tackling local challenges. In the education space alone, a number of players including Byju’s, which is now valued at $8 billion, Unacademy, Vedanutu, and GradeUp have shown impressive growth.

Gaurav Munjal, founder and chief executive of Unacademy, said on Saturday that his startup’s one-year-old premium offering had clocked $30 million in revenue.


Source: Tech Crunch