Fintech startups: Apply to exhibit for free as a TC Top Pick at Disrupt Berlin 2018

Fintech promises to be one of the hottest topics at Disrupt Berlin 2018, and you can take that to the bank — see what we did there? On 29-30 November thousands of attendees will descend on Berlin, and what better way to get your fintech business in front of them than to exhibit in Startup Alley?

Oh wait, we know a better way — apply to be a TechCrunch Top Pick and exhibit at Disrupt Berlin for FREE! Our highly discerning editors will review every application and choose up to five of the absolute best early-stage fintech startups. Each TC Top Pick receives one free Startup Alley Exhibitor Package along with prime real estate in Startup Alley where they can strut their stuff in front of influential technologists and investors, potential collaborators and customers. It’s an opportunity you can’t afford to miss, so don’t wait — apply before the 28 September deadline.

Here’s what you get with a Startup Alley Exhibitor Package.

  • One-day exhibit space
  • Three Disrupt Berlin Founder Passes
  • Access to CrunchMatch (our free investor-to-startup matching platform)
  • Access to the Disrupt press list
  • A chance to be selected as one of the Startup Battlefield Wild Card companies (and you might even compete in our $50,000 startup-pitch competition)

Exhibiting in Startup Alley can help you build connections and relationships you might not otherwise make. Consider Zeroqode, a company that exhibited in Startup Alley at Disrupt Berlin 2017.

Startup Alley attendees chose Zeroqode as a Wild Card company on day three, which earned them a five-minute interview with TechCrunch editor John Biggs on the Startup Alley Showcase Stage. What’s more, TechCrunch shot that interview and promoted it, along with an article penned by Biggs, across its social media platforms.

Here’s what Vlad Larin, the company’s co-founder, had to say about the experience.

“Exhibiting in Startup Alley was a massively positive experience. It gave us the chance to show our technology to the world and have meaningful conversations with investors, accelerators, incubators, solo founders and developers. The publicity we received from the on-stage interview brought a lot of people to our website. We had a huge spike in traffic, and we’re still feeling the positive business effects of that interview.”

You’ll also have the opportunity to hear some of Europe’s fintech movers and shakers speak from the Main Stage. People like Anne Boden, the founder and CEO of Starling Bank and Ricky Knox, the CEO and co-founder of Tandem Bank.

Disrupt Berlin 2018 takes place on 29-30 November. If you want a shot at being one of the fintech TC Top Picks and exhibiting for free in Startup Alley, then apply here before 28 Sept. We can’t wait to see you in Berlin!


Source: Tech Crunch

Polestar unveils first production EV with aim to overtake Tesla

Polestar debuted its first production EV and previewed its electric car line in New York with the CEO squarely taking aim at Tesla.

The Volvo subsidiary pulled the cover off its Polestar 1, which it positioned less as a hybrid and more as a fully electric (gas optional) car to attract fence sitters to EVs.

The $155,000 auto—that will hit streets in 2019—has 3 electrical motors powered by twin 34kWh battery packs and a turbo and supercharged gas V4 up front (more details here).

All electric range is up to 100 miles—which the company claims gives the Polestar 1 the longest all electric range of any production hybrid.

Polestar drivetrain

The Polestar 1 brings 600 horsepower and 738 ft-lbs of torque. It is the first in a series, with an all electric Polestar 2 to debut in 2019 and a Polestar 3 SUV after that.

“Polestar 2 will be a direct competitor to the Tesla Model 3…” CEO Thomas Ingenlath said on the launch stage.

He told TechCrunch the company will focus more on creating converts to EVs than pulling away Tesla’s existing market share.

Thomas Ingenlath, chief executive officer, Polestar

One advantage Ingenlath described was using Polestar 1 as a gateway car for getting laggards to go all electric. “There are many people out there who still think a car has to have a combustion engine,” he said. “Polestar 1 is an extremely good vehicle to get people across that line and once they drive it…understand what an amazing experience an electric car is.”

Polestar converts shouldn’t get too attached to that gasoline/voltage combo, however.

Polestar 1 will be the company’s first and last electric and gas vehicle, according to Ingenlath. “The future is electric. We will not do a hybrid car again,” he told TechCrunch.

At their New York Polestar 1 debut, the company devoted about as much time to the Polestar sales and service experience as the actual car. It will be multi-channel—from app to physical—leveraging parts of Volvo’s dealer network for certain things and staying completely separate for others. For one, Polestar will not have dealers or use Volvo dealers to showcase their cars, according to Ingenlath.

The buyer experience will start on the company’s app, then move into what it refers to as a network of “Polestar Spaces” across the U.S., Europe, and China where buyers can view and test cars. Purchased cars can be delivered to one’s home and service coordinated by app and home pickup—though Polestar will use Volvo dealers (not their spaces) on the service end.

“We will become a company that produces around a 100,000 cars a year and this will definitely scale-up,” said Ingenlath. “We’ll never become a Volvo, but we certainly need a certain scale to come in to a profitable range.”

The company oversubscribed orders for the Polestar 1 with 200 cars coming to North American buyers.

While Polestar’s HQ is in Gothenburg, Sweden, it will manufacture cars at a plant in Chengdu China.

The company’s EV debut comes as Tesla’s $49,000 to $64,000 Model 3 earned the NHTSA’s top safety rating and Audi introduced it $74,800 all electric e-tron SUV (covered here at TechCrunch)

In the U.S. market Tesla still dominates plugin sales by make and model and its Model 3 is expected to boost that lead, according to EV Volumes.


Source: Tech Crunch

Twitter says bug may have exposed some direct messages to third-party developers

Twitter said that a “bug” sent user’s private direct messages to third-party developers “who were not authorized to receive them.”

The social media giant began warning users Friday of the possible exposure with a message in the app.

“The issue has persisted since May 2017, but we resolved it immediately upon discovering it,” the message said, which was posted on Twitter by a Mashable reporter. “Our investigation into this issue is ongoing, but presently we have no reason to believe that any data sent to unauthorized developers was misused.”

A spokesperson told TechCrunch that it’s “highly unlikely” that any communication was sent to the incorrect developers at all, but informed users out of an abundance of caution.

Twitter said in a notice that only messages sent to brand accounts — like airlines or delivery services — may be affected. In a separate blog post, Twitter said that it’s investigation has confirmed “only one set of technical circumstances where this issue could have occurred.”

The bug was found on September 10, but took almost two weeks to inform users.

“If your account was affected by this bug, we will contact you directly through an in-app notice and on twitter.com,” said the advice.

The company said that the bug affected less than 1 percent of users on Twitter. The company had 335 million users as of its latest earnings release.

“No action is required from you,” the message said.

It’s the second data-related bug this year. In May, the company said it mistakenly logged users’ passwords in plaintext in an internal log, used by Twitter staff. Twitter urged users to change their password.


Source: Tech Crunch

Instagram denies it’s building Regramming. Here’s why it’d be a disaster


Instagram tells me Regramming, or the ability to instantly repost someone else’s feed post to your followers like a retweet, is “not happening”, not being built, and not being tested. And that’s good news for all Instagrammers. The denial comes after it initially issued a “no comment” to The Verge’s Casey Newton, who published that he’d seen screenshots of a native Instagram resharing sent to him by a source.

Regramming would be a fundamental shift in how Instagram works, not necessarily in terms of functionality, but in terms of the accepted norms of what and how to post. You could always screenshot, cite the original creator, and post. But the Instagram has always about sharing your window to the world — what you’ve lived and seen. Regramming would legitimize suddenly assuming someone else’s eyes.

And the result would be that users couldn’t trust that when they follow someone, that’s whose vision would appear in their feed. Instagram would feel a lot more random and unpredictable. And it’d become more like its big brother Facebook whose News Feed has waned in popularity – Susceptible to viral clickbait bullshit, vulnerable to foreign misinformation campaigns, and worst of all, impersonal.

Photographer: Andrew Harrer/Bloomberg via Getty Images

Newton’s report suggested a Instagram reposts would appear under the profile picture of the original sharer, and could regrams could be regrammed once more in turn, showing a stack of both profile thumbnails of who previously shared it. That would at least prevent massive chains of reposts turning posts into all-consuming feed bombs.

Regramming could certainly widen what appears in your feed, which some might consider more interesting. It could spur growth by creating a much easier way for users to share in feed, especially if they don’t live a glamorous life themself. I can see a case for this being a feature for businesses only, which are already impersonal and act as curators. And Instagram’s algorithm could hide the least engaging regrams.

These benefits are why Instagram has internally considered building regramming for years. CEO Kevin Systrom told Wired last year “We debate the re-share thing a lot . . . But really that decision is about keeping your feed focused on the people you know rather than the people you know finding other stuff for you to see. And I think that is more of a testament of our focus on authenticity”.

See, right now, Instagram profiles are cohesive. You can easily get a feel for what someone posts and make an educated decision about whether to follow them from a quick glance at their grid. What they share reflects on them, so they’re cautious and deliberate. Everyone is putting on a show for Likes, so maybe it’s not quite ‘authentic’, but at least the content is personal. Regramming would make it impossible to tell what someone would post next, and put your feed at the mercy of their impulses without the requisite accountability. If they regram something lame, ugly, or annoying, it’s the original author who’d be blamed.

Instagram already offers a demand release valve in the form of re-sharing posts to your Story as stickers

Instagram already has a release valve for demand for regramming in the form of the ability to turn people’s public feed posts into Stickers you can paste into your Story. Launched in May, you can add your commentary, complimenting on dunking on the author. There, regrams are ephemeral, and your followers have to pull them out of their Stories tray rather than having them force fed to them via the feed. Effectively, you can reshare others’ content, but not make it a central facet of Instagram or emblem of your identity. And if you want to just make sure a few friends see something awesome you’ve discovered, you can send them people’s feed posts as Direct messages.

Making it much easier to repost to feed instead of sharing something original could turn Instagram into an echo chamber. It’d turn Instagram even more into a popularity contest, with users jockeying for viral distribution and a chance to plug their SoundCloud mixtapes like on Twitter. Personal self-expression would be overshadowed even further by people playing to the peanut gallery. Businesses might get lazy rather than finding their own style. If you want to discover something new and unexpected, there’s a whole Explore page full of it.

Newton is a great reporter, and I suspect the screenshots he saw were real, but I think Instagram should have given him the firm denial right away. My guess is that it wanted to give its standard no comment because if it always outright denies inaccurate rumors and speculation, that means journalists can assume they’re right when it does ‘no comment’.

But once Newton published his report, backlash quickly mounted about how regramming could ruin Instagram. Rather than leaving users worried, confused, and constantly asking when the feature would launch and how it would work, the company decided to issue firm denials after the fact. It became worth diverging from its PR playbook. Maybe it had already chosen to scrap its regramming prototype, maybe the screenshots were just of an early mock-up never meant to be seriously considered, or maybe it hadn’t actually finalized that decision to abort until the public weighed in against the feature yesterday.

In any case, introducing regramming would risk an unforced error. The elemental switch from chronological to the algorithmic feed, while criticized, was critical to Instagram being able to show the best of the massive influx of content. Instagram would eventually break without it. There’s no corresponding urgency fix what ain’t broke when it comes to not allowing regramming.

Instagram is already growing like crazy. It just hit a billion monthly users. Stories now has 400 million daily users and that feature is growing six times faster than Snapchat as a whole. The app is utterly dominant in the photo and short video sharing world. Regramming would be an unnecessary gamble.


Source: Tech Crunch

Early-bird tickets close today, 9/21

TC Sessions: AR/VR on October 18 at UCLA is gearing up to be a great show.
Early-bird sales end after today, September 21. Don’t miss out on the biggest savings for this event — book your $99 tickets here before prices go up by $100.

The stage will feature some of the industry’s most groundbreaking companies and thought leaders from Oculus, Emmy-winning Baobab Studios, Facebook, Survios and more.


Why attend TC Sessions: AR/VR?

Big Conversations
Hear today’s innovators, leaders and experts share their experiences and insights

Exclusive Demos
Get a first-look at several never-before-seen augmented and virtual technology demos

Community Building
Meet the key players and contributors in AR/VR throughout the day and expand your network


Agenda Highlights:

Ditching Headsets for Holograms with Ashley Crowder (VNTANA), Shawn Frayne (Looking Glass Factory) and Brett Jones (Lightform)
Augmented reality may be a powerful sight, but it requires participants to own expensive hardware. Is there a workaround? Startups are working to centralize the experience but it’s going to look a lot different.

Building Inclusive Worlds with Cyan Banister (Founders Fund)<br />
If you had the chance to redesign society, where would you even start? As game developers continue designing massive online virtual worlds where we will spend more and more time, how should we look to correct issues we encounter and how can we build a better future?

Kickstarting an Industry with Yelena Rachitzky (Oculus)
Oculus has pumped hundreds of millions of dollars into funding VR content, and while the headset market is still small, developers have built plenty of games and experiences. Facebook’s VR future rests on people finding new worlds that they want to step into; how will Oculus make this happen?

See the full agenda here.


Don’t forget to book your early-bird tickets here before end of day today. Students, you can book tickets for just $45 here.

P.S. When you tweet your attendance through our ticketing platform, you’ll save an additional 25 percent (for Early Bird) and 15 percent (for student tickets).


Source: Tech Crunch

Interiors startup Clippings raises $15.4M Series B with Advance Venture Partners

Back in April we saw that eporta, a London-based B2B interiors marketplace startup, had raised $8 million in a Series A funding round led by US investor Canvas Ventures. Eport has digitized the catalogues of furnishing manufacturers and allowed businesses to order direct, cutting out the middle-men.

Now London is continuing its obsession with interior decoration startups with the news that Clippings has raised a Series B round of funding, raising $15.4 million. Advance Venture Partners (AVP) lead the round and existing investor C4Ventures also participated.

Founded in 2014 by architecture-trained entrepreneurs Adel Zakout and Tom Mallory, Clippings now plans to grow in the US.

Currently, the furniture industry is worth €9.6 billion in Europe, and around $120 billion in the US, but only 6% of this spend is online.

Clippings aggregates data on over 7 million products from over a thousand brands to simplify discovery and combines that with interactive mood boards that replace Pinterest to identify and buy a product. Then it throws in collaboration tools for teams, multiple quote requests, orders, invoices and timelines into one place.

It now claims to have about 50,000 people – including teams designing for WeWork, Citroën and British Land – using Clippings.

Adel Zakout, co-founder and CEO of Clippings told me “We’ve built software that enables full management of an interior project, offer a layer of service and logistics so that when you do buy, we manage it all for you vs Eporta where it’s fully self-serve. This doesn’t fix major pain point of customer.”

He also says they have full pricing control, meaning “we can take a view of a whole project value / customer spend and offer optimal prices vs Eporta who can’t do that as the seller controls price.”

He says a typical large co-working space project may have a budget in the £100k range and will have products from 40-50 different vendors, “so you need to be able to consolidate pricing, service, logistics and offer tech to manage it all.”

Other players in the industry (but not competitors) include Houzz and made.com.


Source: Tech Crunch

Amazon’s new Echo Dot, up close and hands-ons

If the Echo Show was the Amazon device most desperately in need of a makeover (please and thank you), the Dot was certainly a close second. After all, while the cheapest (and best selling) Echo device has already been through a couple of iterations, the hardware wasn’t exactly the sort of thing you’d proudly display on the coffee table.

The thing that strikes you immediately upon seeing the redesigned version of what Amazon calls “the best selling speaker” is how much the new generation of the product is influenced by Google’s Home Mini. In fact, Google’s influence was evident all over the place here.

That said, I actually prefer the design on this one. The new Dot has a similar form factor to its predecessor, keeping the rough dimensions and button layouts in tact. The biggest difference from the design perspective, is the cloth speaker that surrounds the perimeter of the device. The product takes the whole “speaker” part of “Smart Speaker” a bit more seriously.

The new version tops out at about 70 percent louder than the original Dot. The company played a pair of the products in tandem for me (the Ed Sheeran, for the record, was not my choice), with each one splitting the left and right stereo channels.

The effect was solid, though I’m not rushing out to replace the Google Home Max in my apartment at the moment. That said, you can piece together a decent Amazon-only system with products like the Sub and Link.

The most impressive bit in all of this is, naturally, the price. Amazon managed to improve the hardware without charging more. That would have been a mistake, of course. The $49 price tag is kind of the whole point of the Dot. This is the gateway drug into the Alexa ecosystem (Echosystem?).

At that level, you’ve got a low cost entry into multi-room audio. It’s all part of the company’s approach to home audio. By circumventing high ticket items like the HomePod or Google Home Max, Amazon is letting users build their home audio system piece by piece.


Source: Tech Crunch

Adobe gets its company, snaring Marketo for $4.75 billion

A week ago rumors were flying that Adobe would be buying Marketo, and lo and behold it announced today that it was acquiring the marketing automation company for $4.75 billion.

It was a pretty nice return for Vista Equity partners, which purchased Marketo in May 2016 for $1.8 billion in cash. They held onto it for two years and hauled in a hefty $2.95 billion in profit.

We published a story last week, speculating that such a deal would make sense for Adobe, which just bought Magento in May for $1.6 billion. The deal gives Adobe a strong position in enterprise marketing as it competes with Salesforce, Microsoft, Oracle and SAP. Put together with Magento, it gives them marketing and ecommerce, and all it cost was over $6 billion to get there.

“The acquisition of Marketo widens Adobe’s lead in customer experience across B2C and B2B and puts Adobe Experience Cloud at the heart of all marketing,” Brad Rencher, executive vice president and general manager, Digital Experience at Adobe said in a statement.

Ray Wang, principal analyst and founder at Constellation Research sees it as a way for Adobe to compete stronger with Salesforce in this space. “If Adobe takes a stand on Marketo, it means they are serious about B2B and furthering the Microsoft-Adobe vs Salesforce-Google battle ahead,” he told TechCrunch. He’s referring to the deepening relationships between these companies.

Adobe reported its earnings last Thursday announcing $2.29 billion for the third quarter, which represented a 24 percent year over year increase and a new record for the company. While Adobe is well on its way to being a $10 billion company, the majority of its income continues to come from Creative Cloud, which includes Photoshop, InDesign and Illustrator, among other Adobe software stalwarts.

But for a long time, the company has wanted to be much more than a creative software company. It’s wanted a piece of the enterprise marketing pie. Up until now, that part of the company, which includes marketing and analytics software, has lagged well behind the Creative Cloud business. In its last report, Digital Experience revenue, which is where Adobe counts this revenue represented $614 million of total revenue. While it continues to grow, up 21 percent year over year, there is much greater potential here for more.

Adobe had less than $5 billion in cash after the Mageno acquisition, but it has seen its stock price rise dramatically in the last year rising from $149.96 last year at this time to $266.05 as of publication.

The acquisition comes as there is a lot of maneuvering going on this space and the various giant companies vie for market share. Today’s acquisition gives Adobe a huge boost and provides them with not only a missing piece, but the opportunity to increase revenue in this part of their catalogue, while allowing them to compete more heavily with Salesforce, Microsoft and others deeper inside the enterprise.

It’s also worth noting that the announcement comes just days before Dreamforce, Salesforce’s massive customer conference will be taking place in San Francisco, and Microsoft will be holding its Ignite conference in Orlando. While the timing may be coincidental, it does end up stealing some of their competitors’ thunder.


Source: Tech Crunch

Facebook’s Camera AR platform head is coming to TC Sessions: AR/VR

Augmented reality has the potential to change how we interact with the internet, as these technologies scale you can certainly bet that Facebook is going to be looking to shape what’s possible.

At our one-day TC Sessions: AR/VR event in LA next month, we’ll be joined by Ficus Kirkpatrick, Facebook’s Head of Camera AR Platform, to chat about the company’s strategies in 2018 and beyond for augmented reality.

While the bulk of Facebook’s VR ambitions have taken up residence under the Oculus name, the biggest AR platform available right now are the hundreds of millions of smartphones that people already have. Fortunately, Facebook has quite the presence on mobile but that’s made it even more of a challenge to fit AR ambitions into apps that already have so much going on.

Facebook is not the place most people turn to when they want to take a photo, but the company’s Camera team is hoping to change that by bringing augmented reality face and environment filters deeper into the app.

The Camera Effects AR Platform was Mark Zuckerberg’s hallmark announcement at F8 in 2017, a year when Apple and Google also started getting more verbose in their praise for AR’s potential. In 2018, the company has had some other things keeping it busy, but has continued to bring AR to other areas of the company’s suite of apps with new capabilities.

Right now Facebook is largely focused on the fun and artsy applications of AR, but where will the company take smartphone AR beyond selfie filters towards delivering utility to billions of users? We look forward to chatting with Kirkpatrick about the challenges ahead for the tech giant and the strategies for getting more users to warm up to AR.

$99 Early Bird sale ends tomorrow, 9/21, book your tickets today and save $100 before prices go up, and save an additional 25% when you tweet your attendance through our ticketing platform.

Student tickets are just $45 and can be purchased here. Student tickets are good for high/middle school students (with chaperon), 2/4 year college students, and master’s/PhD students.


Source: Tech Crunch

As tasks wane, skills rise

It’s a common scene: A truck driver pulls up to a highway truck stop for fuel and lunch. She orders a burger and fries from the waiter standing at the counter. Then, she makes her way to the store next door to pick up a coffee to go.

In a matter of years, these kinds of simple, daily interactions will likely become a thing of the past as the tasks of truck drivers, waiters and clerks are increasingly done by machines.

Even if measurement techniques vary, the numbers don’t lie: Ultimately, large swaths of people will be displaced by machines. Depending on whether we’re using estimates from Oxford UniversityMcKinsey Global or the Organization for Economic Co-operation and Development (OECD), it’s safe to assume that anywhere from 9 to 47 percent of the American workforce will likely be displaced by automation in the coming decades. Even the lowest estimates place millions of Americans out of work.

The way we work is changing. People possess the innate ability to innovate and evolve in the jobs they do, and new technologies — from the wheel to steam power and artificial intelligence — have drastically improved and impacted work throughout history. So many jobs of the future have yet to be created, but the trends show that machines and workplace technologies will shoulder the burden of intense physical labor and leave us more room for ideation and supervision.

As we all transition to a more integrated workplace it is imperative that we remember who operates the machines. Pragmatic and strategic policies can help us usher in a brighter future for hardworking American families and cities.

In our latest National League of Cities research, Assessing the Future of Our Work, we analyzed Bureau of Labor Statistics data and found that by 2030 the fastest growing jobs will require advanced soft skills like time management, active listening, coordination and judgement and decision making. But ultimately, no industry, job or task is safe from automation, and the new kinds of jobs that will arise in their place remain in some sense unknown. However, the most effective and tested defenses against these widely predicted disruptions are the original incubators — our American cities.

Cities serve as the places where movements and ideas are found, focused and filtered into broader society.

The report also recommends logical career pathways toward better opportunities that will be more sustainable in the face of automation and changing local economies. For instance, high-touch roles in the caring professions, like nursing and home healthcare, will grow and continue to be in demand. Meanwhile, cashiers — which will be one of the groups most threatened by automation — can transition to sales representatives. And in the construction industry, technologies like the Semi-Automated Mason (SAM100) will shift workers out of tedious manual labor roles and open up additional jobs for those with supervisory and technical skills.

Now more than ever we are in desperate need of the unique advantage each American city holds to build a different future. Each local economy is as strong as the talent pool it supports. Equipped with a clear understanding of the talent they possess, city leaders are uniquely positioned to construct the talent pipelines desperately needed to equip workers with those promising skill sets that will be in demand in the near future.

Our report found that three cities — Boston, Richmond and Minneapolis — have done an especially effective job of preparing for the future of work in a way that is accessible, equal and sustainable.

Boston’s workforce mix has been identified as being 38 percent susceptible to automation, meaning it is at low risk of automation. The city is at low risk because the local government is taking strategic steps to better support workers by offering adult literacy programs, apprenticeship opportunities and demand-focused credentialing programs for local growth industries.

Richmond has long been at the crossroads of critical economic, political and commercial power. Richmond’s existing labor force has been assessed as 41 percent susceptible to automation, meaning it is also at low risk of job losses due to automation. Richmond stays ahead of the curve by instituting programs like PluggedIn VA, which teaches important business skills like interviewing, shadowing and in-demand technical skills.

Minneapolis is the second largest economic center in the midwestern United States. With its robust university system, Minneapolis has proven its ability to connect its specialized workforce with in-demand careers. Hennepin Pathways, in particular, has proven effective in matching available talent with locally sustainable jobs.

As natural epicenters of talent, cities serve as the places where movements and ideas are found, focused and filtered into broader society. With a conglomeration of individuals in urban places and the density of people from all walks of life, cultures and creeds, cities have a dynamism that productively pushes our country forward.

Our future requires a new level of personalization and flexibility in a very traditional space — work. Technology can be compulsive, invasive and glitchy, but our greatest advantage moving forward will be our resilience.


Source: Tech Crunch