Home / Tag Archives: markets

Tag Archives: markets

Taking Tesla private, WeWork and Uber earnings, and what happened to crypto

Hello and welcome back to  Equity , TechCrunch’s venture capital-focused podcast where we unpack the numbers behind the headlines. This week was a corker. We had Alex Wilhelm in-studio with our guest Minal Hasan , founder of K2 Global , and TechCrunch’s Danny Chriton jumped in from New York to help the crew dig through the biggest and best stuff from the last seven days. It’s been busy, to say the least. First, we took a look at the Elon-Musk-taking-Tesla-private-situation , which has kept Markets Twitter in suspense for days. We didn’t really get to talk about the Grimes-Azealia Banks stuff , but, hey, stay in your lane and what not. Don’t forget that the latest Tesla upheaval comes on the heels of the firm’s pretty good earnings report . Next, we took a look at earnings. Not of public companies, mind, but two unicorns that have become so large as to require regular financial disclosure. So, we took a peek into what Uber and WeWork had cooking. In short: WeWork loses a lot of money , and despite its impressive growth we have some concerns; Uber loses a lot of money , but due to its impressive growth our group was (on average) not too worried. Put into simple terms, WeWork’s long-term lease situation has us worried, while Uber’s losses compared to its net revenue seem kinda alright given other financial metrics. Place your own bets, of course. Moving along we took a dig into the NIO IPO , which you probably haven’t heard about yet

Read More »

Spotify is falling behind on lyrics and voice

Spotify’s lack of full lyrics support and its minimal attention to voice are beginning to become problems for the streaming service. The company has been so focused on the development of its personalization technology and programming its playlists, it has overlooked key features that its competitors – including Apple, Google, and Amazon – today offer and are now capitalizing on. For example, in the updated version of Apple Music rolling out this fall with iOS 12, users won’t just have access to lyrics in the app as before, they will also be able to perform searches by lyrics instead of only by the artist, album, or song title. And Apple Music is actually playing catch up with Amazon on this front. Amazon Music, which has quietly grown to become the third largest music streaming service , allows users to view the lyrics as songs play , and ties that to its Alexa voice platform. Amazon Music users with an Alexa device can also search for songs by lyrics just by saying  “play the song that goes…” . The company has been offering this capability  for close to two years . While it had originally been one of Alexa’s hidden gems,  today asking Alexa to pull up a song by its lyrics is considered a standard feature. Though Google has lagged behind Apple, Spotify and Amazon in music, its clever Google Assistant is capable of search-by-lyrics , too. And as an added perk, it can also work like Shazam to identify a song that’s playing nearby. With the rise of voice-based computing, features like asking for songs with verbal commands or querying databases of lyrics by voice are now expected features

Read More »

Huawei Launches Honor Note 10 With A 7 Inch Screen – Ubergizmo

Ubergizmo Huawei Launches Honor Note 10 With A 7 Inch Screen Ubergizmo You may still remember the days when it seemed impossible that a smartphone would have a 7 inch display. We saw tablets with 7 inch displays but smartphones have gradually been pushing the envelope on the display size over the past few years. Huawei ... and more »

Read More »

ClassPass works up $85 million Series D funding

ClassPass today announced the close of an $85 million Series D financing round led by Temasek, the same firm that led the startup’s Series C financing . L Catterton , a private equity firm that has also invested in the likes of Peloton, Equinox, and Pure Barre, also participated in the round. As part of the deal, L Catterton’s Michael Farello will join the ClassPass board. It’s also worth noting that CEO Fritz Lanman confirmed that the share price dropped as part of the $70 million Series C round , but that the valuation didn’t. Both share price and valuation went up during this latest round. That said, Lanman stayed mum on any actual numbers around valuation. This latest round brings ClassPass’s total funding to $255 million. ClassPass first launched in 2012 out of TechStars. Back then, it was called Classtivity, and it operated under a very different business model. Users could search for a la carte classes from dance and fitness studios, book an appointment and complete the transaction all from their website.  Turns out, gym memberships exist for a reason. Without a monthly up front investment, most people don’t have the motivation to go workout.

Read More »

Both Amazon and Walmart announce expanded grocery delivery operations

Amazon and Walmart’s rivalry continues today with two dueling announcements related to their respective grocery delivery expansions. This morning, Amazon said it’s bringing grocery delivery via Whole Foods to several new markets in New York and Florida, including New York City and Miami, among others. Meanwhile, Walmart today is expanding grocery delivery in partnership with Postmates, with a launch in the L.A. region. The Postmates expansion brings grocery delivery to Los Angeles and outlying areas including Glendora, Baldwin Park, Garden Grove, Rosemead, Pico Rivera, Foothill Ranch and Santa Clarita, plus San Diego. Postmates now powers Walmart grocery delivery in seven total regions, it notes: Charlotte, Raleigh, Oklahoma City, Las Vegas, Tucson, L.A. and San Diego. This rollout with Postmates follows news from May of Walmart ending its relationships with prior grocery delivery partners, Uber and Lyft. At the time, Walmart said customers in the four markets Uber served, and the one (Denver) that Lyft had served, wouldn’t notice any changes as it would be switching them over to new delivery providers. Walmart currently partners with Postmates, Deliv and DoorDash on grocery delivery, instead of operating its own service in-house. Rival Amazon is also expanding grocery delivery with Whole Foods, but its strategy is murky, too.

Read More »

OnePlus To Bring Selfie Portrait Mode To OnePlus 5, 5T – Ubergizmo

Ubergizmo OnePlus To Bring Selfie Portrait Mode To OnePlus 5, 5T Ubergizmo Portrait mode on the rear-facing cameras of smartphones is becoming an increasingly common feature. This is typically achieved through hardware by having the extra lens, or in the case of certain phones like the Google Pixels, this is (very ... and more »

Read More »

Farfetch acquires CuriosityChina to expand its social media efforts on the Mainland

Farfetch  — the e-commerce startup that works with some 900 high end fashion boutiques and labels to present and sell clothes, shoes, accessories and jewellery online, and we and others have heard is gearing up for a $6 billion IPO — is making an acquisition to double down China, one of the fastest-growing markets for luxury goods. It’s acquiring Curiosity China , a marketing firm that specialises in leveraging social media — specifically, WeChat — to target users and sell goods. It already works with some 80 brands that are also customers of Farfetch to help them use WeChat channels and accounts to reach would-be customers. It also offers CRM and a few other services. The plan will be to incorporate Curiosity China into Farfetch’s “Black & White” white-label API, which essentially allows boutiques to integrate their stock into Farfetch’s purchasing and logistics platform, or use that engine to sell its goods on their own sites. This will now give them the option also to use the API to run campaigns in China. Terms of the deal have not been disclosed. This is Farfetch’s third acquisition, the other two being UK boutique Browns and Style.com. Farfetch also said it is buying all of the company’s tech and all of its employees and founders are coming on board. Judy Liu, a co-founder of CuriosityChina, will become Farfetch’s managing director for China; another co-founder, Alexis Bonhomme, is taking on the role of VP commercial, China; and the third co-founder, Arthur Shui, will become head of technology for the Chinese operation. Farfetch’s acquisition of CuriosityChina underscores a few interesting trends currently underway in the market: the rise of the Chinese consumer, the ongoing challenges to target those consumers if you are from outside China, and the rise of social media as a popular marketing and sales channel. The luxury market was worth €262 billion in 2017, according to analysis from Bain, with customers from China accounting for 32 percent of that amount (shopping both in China and abroad).

Read More »

Google confirms it will appeal $5 billion EU antitrust fine

Google has confirmed the expected, that it will indeed appeal the record $5 billion fine that it was handed today by European antitrust regulators for abusing the dominance of its Android operating system. The European Commission announced that it is fining the U.S. firm for “three types of restrictions that it has imposed on Android device manufacturers and network operators to ensure that traffic on Android devices goes to the Google search engine.” The press conference announcing the investigation, which has been eight years in the making, remains ongoing as of writing, but Google has already issued a short statement that confirms its intention to appeal. “Android has created more choice for everyone, not less. A vibrant ecosystem, rapid innovation and lower prices are classic hallmarks of robust competition. We will appeal the Commission’s decision,” it said in a tweet . We’re breaking out the specific details as we learn them in this post , but here’s the core gist. Competition commissioner Margrethe Vestager tweeted  details of the penalty and explained more in an initial statement: Today, mobile internet makes up more than half of global internet traffic. It has changed the lives of millions of Europeans. Our case is about three types of restrictions that Google has imposed on  Android  device manufacturers and network operators to ensure that traffic on Android devices goes to the Google search engine. In this way, Google has used Android as a vehicle to cement the dominance of its search engine. These practices have denied rivals the chance to innovate and compete on the merits. They have denied European consumers the benefits of effective competition in the important mobile sphere. This is illegal under EU antitrust rules. In particular, the  EC has decided  that Google: Has required manufacturers to pre-install the Google Search app and browser app (Chrome), as a condition for licensing Google’s app store (the Play Store); Made payments to certain large manufacturers and mobile network operators on condition that they exclusively pre-installed the Google Search app on their devices And has prevented manufacturers wishing to pre-install Google apps from selling even a single smart mobile device running on alternative versions of Android that were not approved by Google (so-called “Android forks”).

Read More »

Google gets slapped $5BN by EU for Android antitrust abuse

Google has been fined a record breaking €4.34 billion (~$5BN) by European antitrust regulators for abusing the dominance of its Android mobile operating system. Competition commissioner Margrethe Vestager has tweeted to confirm the penalty ahead of a press conference about to take place. Stay tuned for more details as we get them. Fine of €4,34 bn to @Google for 3 types of illegal restrictions on the use of Android. In this way it has cemented the dominance of its search engine. Denying rivals a chance to innovate and compete on the merits. It’s illegal under EU antitrust rules. @Google now has to stop it — Margrethe Vestager (@vestager) July 18, 2018 In a longer statement about the decision, Vestager said: “Today, mobile internet makes up more than half of global internet traffic. It has changed the lives of millions of Europeans. Our case is about three types of restrictions that Google has imposed on Android device manufacturers and network operators to ensure that traffic on Android devices goes to the Google search engine. In this way, Google has used Android as a vehicle to cement the dominance of its search engine. These practices have denied rivals the chance to innovate and compete on the merits. They have denied European consumers the benefits of effective competition in the important mobile sphere. This is illegal under EU antitrust rules.” In particular, the EC has decided that Google: has required manufacturers to pre-install the Google Search app and browser app (Chrome), as a condition for licensing Google’s app store (the Play Store); made payments to certain large manufacturers and mobile network operators on condition that they exclusively pre-installed the Google Search app on their devices; and has prevented manufacturers wishing to pre-install Google apps from selling even a single smart mobile device running on alternative versions of Android that were not approved by Google (so-called “Android forks”).

Read More »

Google gets slapped with $5BN EU fine for Android antitrust abuse

Google has been fined a record breaking €4.34 billion (~$5BN) by European antitrust regulators for abusing the dominance of its Android mobile operating system. Competition commissioner Margrethe Vestager has tweeted to confirm the penalty ahead of a press conference about to take place. Stay tuned for more details as we get them. Fine of €4,34 bn to @Google for 3 types of illegal restrictions on the use of Android. In this way it has cemented the dominance of its search engine. Denying rivals a chance to innovate and compete on the merits. It’s illegal under EU antitrust rules. @Google now has to stop it — Margrethe Vestager (@vestager) July 18, 2018 In a longer statement about the decision, Vestager said: Today, mobile internet makes up more than half of global internet traffic. It has changed the lives of millions of Europeans. Our case is about three types of restrictions that Google has imposed on Android device manufacturers and network operators to ensure that traffic on Android devices goes to the Google search engine. In this way, Google has used Android as a vehicle to cement the dominance of its search engine. These practices have denied rivals the chance to innovate and compete on the merits. They have denied European consumers the benefits of effective competition in the important mobile sphere. This is illegal under EU antitrust rules. In particular, the EC has decided that Google: has required manufacturers to pre-install the Google Search app and browser app (Chrome), as a condition for licensing Google’s app store (the Play Store); made payments to certain large manufacturers and mobile network operators on condition that they exclusively pre-installed the Google Search app on their devices; and has prevented manufacturers wishing to pre-install Google apps from selling even a single smart mobile device running on alternative versions of Android that were not approved by Google (so-called “Android forks”)

Read More »

Galaxy S8 Gets Camera Improvements In Latest Update – Ubergizmo

Ubergizmo Galaxy S8 Gets Camera Improvements In Latest Update Ubergizmo Samsung is rolling out a new software update for the Galaxy S8 and the Galaxy S8+. The update is primarily meant to update the device to the latest Android security patch for the month of July 2018. This is actually the first flagship smartphone from ... and more »

Read More »

Enterprise software investments may be tepid now, but they’re poised to engage

Logan Bartlett Contributor Share on Twitter Logan Bartlett is a vice president with Battery Ventures . More posts by this contributor The SaaS Success Database Have we reached “peak software”? Just like the idea of “peak oil”—the hypothetical point at which global oil production could max out—you could say we’re approaching a saturation point for venture-capital investments in software companies. Recent data from Pitchbook shows that venture investing in software companies has plateaued: The amount of VC money invested in these companies–$32 billion last year—remained roughly constant over the last four years. The actual number of venture-backed software investments, mostly for business-focused companies, has actually declined, from 4,068 in 2014 to 2,980 last year. But software is not, in fact, a declining industry. As I explore with my colleague Neeraj Agrawal in a recent report called  Software 2018 , released last month, a closer look at the Pitchbook data shows that the falloff in software deal volumes is primarily in the Bay Area, where an overheated market has boosted valuations and caused some investors to temporarily pull back. Investment in other U.S. regions, and globally, is actually going up. Investment in software companies based in Europe, Canada and Australia/New Zealand, for example, was $5.4 billion in 2017, up nearly 69% from the previous year. Perhaps more important, a number of broader, global mega trends continue to fuel software innovation today, promising more new companies and more new jobs. These trends include everything from the rise of artificial intelligence, which is pushing software into new fields like autonomous driving, to the recent corporate tax cuts in the U.S., which could free up hundreds of billions of dollars for big corporations to buy up software startups.

Read More »