Browsing Tag: Startups

It wasn’t a fad. Yolo became the country’s No. 1 app just a week after launch by letting teens ask for anonymous replies to questions they posted on Snapchat. But nine months later, Yolo is still in the top 100 iOS apps and has 10 million active users. Now it’s safeguarding the app from predators while revealing a smart new feature for spinning up anonymous group chats, powered by $8 million in fresh funding.

“What we are trying to build is a new kind of network where there’s a fluidity to identity,” Yolo co-founder Greg Henrion tells me. “We weren’t sure if Yolo was here to stay, but we’re still ranking well and there seems to be a real opportunity in anonymity starting with Snapchat Q&A.”

Yolo is the first big win for Snapchat’s Snap Kit platform that lets developers piggyback on its login, Bitmoji avatars, stickers and Stories. This lets tiny development teams build apps that hundreds of millions of people, teens in particular, can instantly sign up for in just a few taps. Another Snap Kit app for meeting new people called Hoop recently spiked to No. 2 on the charts

We haven’t seen this kind of social platform success since Zynga’s empire rose atop Facebook. Spawning more blockbusters like Yolo could ensure that a Snapchat account is a must-have utility for the next generation.

Sleepless nights atop the charts

“For two weeks we basically didn’t sleep,” Henrion recalls about the chaos he and co-founder Clément Raffenoux endured after Yolo shot to No. 1 last May. “You’re trying to stay afloat. It was very, very wild.”

The basic premise of Yolo is that you write a question like, “Who’s my celebrity look alike?”, “What do people really think of me?” or “How could I be nicer?” You’re then switched over to Snapchat, where you can post the question in your Story or messages with a link back to Yolo. There, people can anonymously leave a response; you can post that and your reply with another post on Snapchat.

Yolo co-founder and CEO Greg Henrion, in real life and Bitmoji

The result is that friends and followers feel comfortable giving you real talk. They don’t have to sugarcoat their answers. And that makes people race to open Yolo each time they get a message. Yolo has seen 26 million downloads across iOS and Android globally, with nearly 70% in the U.S, according to Sensor Tower.

Other anonymous apps like tbh (acquired by Facebook) and Sarahah (kicked off the app stores) quickly faded, and others eventually imploded due to bullying, like Secret and YikYak. Although tbh hit No. 1 in September 2017, it was out of the top 500 by November. It seems a combination of inherent virality via Snapchat, easy user acquisition via Snap Kit and sharp product design has given Yolo some staying power. It still managed 2.2 million downloads last month versus a peak of 5.5 million in its first month back in May 2019.

That June, Yolo quietly raised a $2 million seed round thanks to its sudden success. The team had been grinding since 2017 on a video reactions app called Popshow funded by a small pre-seed round from SV Angel, Shrug Capital and Product Hunt’s Ryan Hoover. They’d previously built music video-making app Mindie that eventually sold to influencer collective Shots Studios. Popshow never caught on, so the team began experimenting on Snap Kit, building a more official Q&A feature for Snapchat than predecessors like Sarahah and Polly. Then, boom. Days after launch, Yolo’s usage exploded.

But to keep users interested, Yolo needed to evolve. That would require more funding for the eight-person team split between Snapchat’s home of Los Angeles and Henrion’s home of Paris.

An honest way to chat

The concept of a social app where users could shift between full anonymity and representation via avatar attracted its $8 million Series A to invest in product and engineering. The round was led by Thrive Capital, Ron Conway’s A.Capital, former TechCrunch editor Alexia Tsotsis’ Dream Machine (also in the seed round), Shrug, Day One, Goodwater, Knight VC, ex-Facebooker Bobby Goodlatte, Twitter co-founder Biz Stone and SV Angel’s Brian Pokorny.

That cash fueled the release of Yolo’s new group chat feature. You can set up a chat room, give it a name and generate an invite URL or sticker you can post on Snapchat, just like its previous question feature. Friends or friends of friends that are already in can join the group chat, represented by their Bitmoji instead of their name. Yolo suggests people join the more open “party mode” chats where their friends are active.

What makes this special is that once an hour, users can tap the Yolo Superpowers button to send  a totally anonymous message to the group. More Superpowers are coming, but there’s also an anonymous “Someone has a crush on [name]” message so you can secretly profess your affection to anyone or someone else in the chat.

“The limits of Q&A is that it doesn’t generate real conversation. It’s an ice breaker, but we also want conversations to happen,” Henrion stresses. “‘What do you think about this dress?’ The group chat is more about ‘let’s talk about the dress.’” The chats could be focused on people you actually know offline, or those you share interests with. The option to restrict group chats to either just your contacts or friends of friends “limits the amount of meeting strangers,” Henrion explains. “This is very different from the public communities like Reddit or the dating apps.”

Can “anonymous” be synonymous with “safe”?

Still, anonymous apps have consistently proven to be havens for cyberbullying and unsafe behavior. Without the accountability of having your name attached, people are free to say awful things. That can be even worse amongst teenagers who might get in trouble for being mean at school but not on an app.

Yolo first focused on messages blocking 10% of overall messages that contained offensive content. That meant blatant hate speech and trolling couldn’t spread through the app. “We’re strict on moderation. When looking at the reviews about bullying, it’s like nothing compared to any other anonymous app. I think we solved 90% of the problem.”

Now it’s working with Snapchat to safeguard the group chats feature. The goal is to ensure Yolo doesn’t actively recommend chat amongst adults to minors and vice-versa. Henrion says this update should roll out soon.

“It’s 2020 and we need to be very responsible” Henrion tells me. “Moderation and growth are the most difficult things to balance. It’s moderation first for sure. We don’t care about growth if it’s not healthy or sustainable.” The new funding also gives Yolo the luxury of pushing back monetization while it focuses on safely adding more users.

By making anonymity more private, Yolo has a chance to sidestep some of the worst elements of human behavior. Making fun of someone has less appeal if there’s no wider audience like trolls exploited in the feeds and comment reels of Secret and YikYak.

That could let the brighter side of anonymity shine through: vulnerability, honesty and deep connections that are enhanced by the absence of embarrassment. With all the change, uncertainty and anxiety that’s part of growing up, teens deserve a place where they can be open with each other and speak their minds. After all, you only live once.

Source: Tech Crunch Startups | Teen hit Yolo raises M to let you Snapchat anonymously

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.

What a week. What an insane, heart-stopping, odd and stuffed week. I’m utterly exhausted. But, in better news, all of that is great fodder for podcast and chat, so today’s Equity is pretty okay, if I may say so.

Danny and I chewed through all the stuff that we couldn’t get out of our heads, like the markets falling apart and DoorDash’s initial movement toward going public. But in keeping with the real beating heart of Equity, we also went over four venture rounds and spent some time talking about SoftBank.

We were also a little tired, so come laugh with us and avoid taking things seriously for a few minutes.

Here’s the week’s rundown. And, yes, I did figure out my mic in the end:

• The markets have lost faith in themselves, with indices falling sharply.
• DoorDash is going public! We talked through the company’s known numbers and results.
• Roblox raised $150 million at a $4 billion valuation.
• Three low, or no-code startups raised money, including $51 million for Unqork, $6.3 million for ProtoPie and $3.9 million for Gyana.

We wrapped with whatever this is, other than utterly hilarious and terrifying. We wish you all a lovely weekend. Chat you Monday morning.

Source: Tech Crunch Startups | Coronavirus corrections and the rise of remote work

A 9-year-old is smashing the shuttle far and wide, and frantically pacing back and forth on the court in Bangalore, India, as her competition refuses to back down. Her rival is not a human. She is playing against a machine that is mimicking the game of badminton legend P.V. Sindhu, toned down a few notches to adjust for the age difference.

By the court, her father, Jayanth Kolla, is watching the game and taking notes. Kolla is a familiar name in the tech startup and business ecosystem in India. For the last eight years, he has been helming the research firm Convergence Catalyst, which covers mobility, telecom, AI and IoT.

When his daughter showed interest in badminton, Kolla rushed to explore options, only to realize that the centuries old sports could use some deep tech.

He reached out to a few friends to explore if they could build a device. “I have always wondered how a younger version of players who have made it to the professional arena must have played like,” he said in an interview.

Months later, they had something better.

Sensate Technologies

Kolla founded Sensate Technologies last year and has hired many industry experts and data scientists from Stanford, MIT, and India’s IIT. Sensate is building solutions on deep technologies such as AI, ML, advanced analytics, IoT, robotics and blockchain.

In the last year, the bootstrapped startup has developed seven prototypes, five of which are for sports. It holds eight patents. Which brings us back to the court.

One of the prototypes that Sensate has built is the machine that Kolla’s daughter is playing against. In a recent interview, he demonstrated how Sensate was able to accurately map how a player moves on the court and goes about smashing the shuttle by just looking at two-dimensional videos on YouTube and mobile camera feed. This has been built using Computer Vision AI.

It then fine tunes the gameplay in accordance with the age difference, which is input into a machine that can now mimic that player to a great level, said Kolla.

A handful of startups and established players have sought to address the sports tech market in recent years. SeeHow, another India-based startup, builds and embeds sensors in bats and balls to track specific types of data that batsmen and bowlers generate.

Kolla’s aim is to turn Sensate Technologies into a global deep tech venture foundry and build 20 odd products that would then branch into multiple companies operating in 11 different industries.

Microsoft last year partnered with Indian cricket legend Anil Kumble’s company Spektacom to work on a number of solutions including a smart sticker for bats that contains sensor tech designed to track the performance.

But Kolla’s ambitions go way beyond sports tech.

“The best part about deep technology solutions and platforms is that you build solutions on these technologies to solve a problem in a particular sector and with very little incremental effort, they can solve problems in a completely different sector,” he said.

Kolla, a former product manager at Motorola and Nokia, among other companies, said the startup is also in discussion with one of the world’s biggest companies that is looking to license its tech for their healthcare stack. “This validates our approach.” He declined to name any potential clients as the talks have not materialized yet.

Source: Tech Crunch Startups | Indian research firm Convergence Catalyst is ready for its second act

Like baseball, cricket relies on grass, dirt, wood, cork, spit, spin, drop and rise en route to either victory or loss. And like baseball — and just about any other sport, really — cricket coaching staffs and their players worldwide are looking for more ways to track every move.

Tracking statistics is nothing new. With each action, a player produces a stat that can be used to track improvement or struggle over a given period of time. But as players get stronger and stakes — financial and otherwise — get higher, a need for more specific data is proving necessary.

India-based SeeHow transforms sports equipment into sensors to do just that, and it does so without having to alter anything on the athlete’s body. Its sensors are baked into cricket balls and bat handles to track very specific types of data that batsmen and bowlers generate. And tracking the behavior of a bowled ball and where and how it lands on a bat all play a role in the story of cricket.

“Putting the sensor inside the ball or bat handle where the action is happening is when you can capture data fundamentally at a higher accuracy,” says Dev Chandan Behera, founder and CEO of SeeHow . “Most MEMS [micro-electro-mechanical systems] can measure up to 2,000 degrees per second, i.e about 300+ RPMs. International spinners like Shane Warne can spin the ball up to 3,000 RPMs. This is something we are able to capture.”

To obtain data, a trainer first assigns a bowler and/or a batsman in the accompanying Android app before a session. (Behera says an iOS app is due this year.) During play, each action is captured in near real time for each corresponding player.



For bowlers, the sensor tracks speed, spin, seam position or orientation, and length — where the ball lands on the pitch. For batsmen, the sensor tracks swing speed and angle, where it hits on the bat, what kind of deliveries they played, what their responses were to a particular delivery and the velocity of the ball off the bat.

This data is then streamed in real time and can be read by players and coaches alike on the app. The app retains a history of a player’s progress in order to make any necessary adjustments and to track improvements.

“In bat on ball sport or racquetball sport, you’re doing something in response to the pitcher or your opponent, and that’s something we’re able to capture into a single system,” Behera says. Because both the data from the batter and the bowler are streaming to a single system, he adds, the app is able to tell users what the reaction time is.

Behera grew up playing cricket with the intention of improving enough to ensure his rise through the ranks.

“Growing up we would use chalk, cones or a sheet of A4 paper as markers during play to assess how we bowled,” Behera says of his early years. “A coach would use a slate to mark the number of balls bowled and selection would be based on whether you had his attention in that particular window when he happened to look at you playing. You might just have a bad day and not get selected to the next level.”

After moving to Singapore, Behera continued competing in the sport, and says he was exposed to more tools and more methodical training approaches.

“We used to record videos through mobile phone cameras and compare them to videos on YouTube or show it to our seniors or coaches for tips,” he says. “However, the process was very ad hoc, and without any data and science to it, it was subjective. We never improved and made it as cricketers.”

His experience building robots, combined with his cricket playing, prompted him to consider using a ball as a way to glean data to help improve cricketers’ performances.

“It occurred to me that we could address this issue by bringing in a new perspective to the ball itself. The experience of building such complex hardware helped me gauge the challenges we needed to build a sports operating system that will enable sensors in the field of play to provide this holistic learning experience in cricket.”

Behera says SeeHow’s sensors are being used at 12 cricket academies in nine countries. First-class cricketer Abhishek Bhat is a fast bowler whose speed topped at 120km. He writes that after two weeks, he was able to push his pace into the mid 130s:

However, it wasn’t until SeeHow came into the picture that I was able to get a consistent measurement of my bowling speed, session after session and day after day. I cannot overstate the impact bowling with the smart ball has had on my bowling speed.

I had my first bowling session with the smart ball in early November and I was bowling in the mid-120s, barely getting above 130kmph. Then with some technical adjustments in a couple of weeks time, I was consistently bowling close to the 130 kmph mark. It was then that I realized that bowling fast is more than just about technique, it’s about the mindset.

SeeHow isn’t the only company trying to improve the way cricketers train.

A company called StanceBeam has developed a system that, among other things, provides session insights, the power generated from a swing, angles and directions of a swing and a 3D analysis of a batsman’s swing. It does so through a hardware extension that players attach to the ends of their bats and that relays data via an app.

Microsoft is also in the game of cricket analysis. The company partnered with star India cricketer Anil Kumble and his company Spektacom to enhance the reach of its sensor, which is designed to help better engage fans and broadcasters through the use of embedded sensors, artificial intelligence, video modeling and augmented reality. The company’s first offering is a smart sticker for bats that contains sensor tech designed to track batting behavior that is readable via an app.

As cricket starts to find an audience beyond the Commonwealth countries and continues to draw big dollars, look for tech to play a bigger role in attracting and maintaining audiences and players.

For SeeHow, cricket is just the beginning.

“Baseball is a very natural extension to cricket if you look at how the sport is played and the equipment,” Behera says. “And we have also done mixed martial arts with sensors in the gloves.”

The company has filed for five patents, one of which, Behera says, is around the construction of the ball, specifically in order to be able to hold the vibrations.

“We have mounted the sensor in the sports equipment at the core and introduced a protective material to cushion the sensor from impact and vibration,” he says. “The patent captures the construction of the ball that mounts the sensor and introduces the protective material in a novel manner to be able to capture the motion data at the core.”

As it scales, SeeHow will look to license the hardware to equipment manufacturers and become a platform company. SeeHow is funded through a friends and family round and is currently in search of seed funding.

Source: Tech Crunch Startups | SeeHow helps cricketers train smarter

Stem, a startup that helps independent musicians get paid, is expanding with a new financing program called Scale.

Co-founder and CEO Milana Rabkin Lewis described the company’s core offering as a way for collaborators to “memorialize the split” of the proceeds from a song — once they’ve uploaded a track, Scale can automatically handle splitting the payments among those collaborators. It also offers a broader suite of tools, including revenue data, to help musicians manage the financial side of their careers.

However, Rabkin Lewis noticed that some musicians on Stem were starting to “graduate” by signing a deal with a record label, usually because they needed capital: “Sometimes that was money for marketing, sometimes it was money for production, sometimes it was the cost of going on tour.”

With Scale, Rabkin Lewis and her team are trying to offer something better — a way for musicians to get access to the money they need without having to sign a restrictive contract. The payment terms are transparent; they’re calculated as a percentage of monthly revenue, with musicians able to adjust how much money they take and how quickly they want to pay it back.

Plus they’re able to maintain creative control and full ownership of their master recordings. And Stem says these advances are better from a tax perspective, because they’re classified as a merchant credit advance that only gets taxed as money is actually earned.

Money might not be the only thing a musician needs, but Rabkin Lewis (a former agent at the United Talent Agency) said that marketing and other services that were once the sole domain of record labels are now available through independent professionals. And Stem already helps connect artists to those specialists through its Stem Direct membership program.

While Scale is officially launching today, Stem has already been testing the program with select artists. Rabkin Lewis said the advances vary from $2,500 to $250,000, with most of them in the $50,000 to $100,000 range, and payback periods ranging from four to 18 months.

Artists who have already participated in the program include Brent Faiyaz, Justine Skye and Lil Donald.

Rabin Lewis added that there’s a “huge white space” when it comes to offering financial services to “the creative class.”

“In the future, I’m excited to be thinking about how artists can collateralize their music,” she said. “You should be able to take out money against your music to be able to finance your recording studio, or finance your child’s studies. I want to be the platform that understands what it means to be a creative professional and be able to provide the best-in-class services to these people that other segments of workers have access to.”

Source: Tech Crunch Startups | Stem is offering cash advances to help musicians stay independent

A quick hit as we have a podcast to record, but a few public companies in the broader SaaS market reported earnings in the past week. Their results are worth unpacking as they paint a good picture of what the markets are hunting for in modern software companies.

Of course, we’re covering the firms’ share-price movements in the context of an epic selloff stemming from global conditions that are already impacting earnings.

But, hey, not all the news out there is bad. In fact, for our three companies, public investors are waving green flags. So let’s take a peek regarding why Dropbox, Box and Sprout Social — one recent IPO and two slightly-out-of-favor SaaS shops — each shot higher after reporting their Q4-era results.

Earnings, results

Let’s proceed in alphabetical order, putting Box at the top of our list. We’ll then work through Dropbox and Sprout Social.

Box’s calendar Q4-era earnings report (the company’s Fiscal 2020 Q4) beat investor expectations three times. It reported more revenue than anticipated, $183.6 million over expectations of $181.6 million; a slimmer loss than predicted, $0.07 per-share in adjusted profit against a projected $0.04; and the storage-grounded, corporate productivity company’s quarterly forecast of $183.0 million to $184.0 million was a few million ahead of expectations ($181.8 million, per Yahoo Finance).

Source: Tech Crunch Startups | SaaS earnings bump Dropbox, Box and Sprout Social

Every day, there’s another event-related cancellation owing to concern around coronavirus. Just today Microsoft announced it will not have a presence at the Game Developers Conference in mid-March “out of an abundance of caution.” Facebook also said today that it is canceling its annual F8 conference scheduled for May over coronavirus-outbreak concerns.

The last is a particularly big deal. F8 is by far the largest event that Facebook hosts every year, so it’s little wonder that it plans to host part of the event online.

Likely, Facebook will use its own tech toward this end. But there is a new option for other companies that are right now second-guessing their event plans, and that’s Run The World, a year-old, 18-person company that’s based in Mountain View, Calif., and has small teams both in China and Taiwan.

What it’s doing: smooshing together every functionality that a conference organizer might need in a time of a pandemic. Think video conferencing, ticketing, interactivity and networking.

Who’s backing it: Andreessen Horowitz largely, though the company — which has raised $4.3 million in seed funding — also counts as investors GSR Ventures, Pear Ventures, 122 West Ventures, Unanimous Capital, and angel investors like Kevin Weil, the VP of product at the Facebook subsidiary Calibra; Patreon co-founder Sam Yam; and Jetblue Airways Chairman Joel Peterson.

Who started Run The World: Xiaoyin Qu, who is CEO of the company and previously led products for both Facebook and Instagram (“basically anything to do with entertainment influencers and creators,” she says of part of her time at Facebook).

She dropped out Stanford’s MBA program after a year to start the company last year with Xuan Jiang, a former colleague who was a technical lead for Facebook events, ads and stories. (Jiang does have a master’s degree — one in computer science from the Georgia Institute of Technology.)

We talked with Qu yesterday after learning about the company from Connie Chan, the general partner who led the deal for a16z.

Qu says the impetus for the startup ties to her mother, a doctor in China who focuses on meningitis and traveled to a conference in Chicago in late 2018 where she made a connection with a Dubai-based physician who was able to share with her some rare, valuable insight into his own work around meningitis.

That might not seem so exceptional to those who travel regularly, but it was enough of an ordeal for Qu’s mother — who had to secure a visa; take off two weeks around the event, including for travel days; and spent a fortune on airfare and accommodations — that it was the first major trip she’d taken in 35 years.

As Qu half-joked, “It isn’t like at Stanford, where there are events held regularly that [local] doctors can even walk over to.”

Indeed, like a lot of founders who solve a pain point for themselves or someone they love, Qu wanted to create a platform where her mother could meet and have meaningful work connections with people regularly, and this would mean remotely, through digitized events.

Turns out, her timing is pretty good. Though numerous startups have launched live online events businesses in the past (many of them since shuttered), you can bet many more organizers are thinking about exactly the type of platform that Run The World is fine-tuning right now.

Though publicly launched just four months ago, it has already hosted dozens of events and has hundreds in the pipeline, says Qu. One of its customers is Wuhan2020, a large open-source community with more than 3,000 developers who will be using the platform as part of a long-distance hackathon that hopes to produce tech solutions for those affected by coronavirus in Wuhan.

Qu also points to an elephant conservation reserve in Laos that was recently able to raise $30,000 from donors in 15 countries across two weeks through a conference it organized on the platform. The reserve had a constrained budget, but being able to bring together a distributed audience (beyond just wealthy donors) for nearly zero overhead (no venue, no catering), turned it into a major success for the organization.

Smaller events are finding the platform, too. In just one instance, a dating coach who specializes in working with engineers recently held a workshop. Just 40 people showed up, says Qu, but this individual was able to make $1,300 from the event.

Run The World keeps the cost structure simple, taking 25% of ticket sales in exchange for what it provides organizers, from the templates they create, to ticket sales, to payment processing (via Stripe), streaming, enabling social interactions throughout the event, and helping organizers follow up with attendees afterward.

Indeed, beyond enabling organizers to reach a wider audience at perhaps a more accessible price point, a big advantage conferred by online events is the potential for more effective networking, insists Qu. For example, rather than walk into a physical space where it’s sometimes hard to know who to talk with about what, Run The World asks every event attendee to create a video profile akin to an Instagram story that can help inform other attendees about who they are.

It also organizes related “cocktail parties” where it can match attendees for several minutes at a time.

Naturally, there are also downsides to streamed live events as the world was reminded last year, when a gunman filmed his mass murder of dozens of people in Christchurch, New Zealand on Facebook Live.

One could also imagine that those video profiles could attract unwanted attention to some attendees who might rather just watch an event.

These are certainly facets of the business about which Qu and Jiang are well aware. While the plan is to keep adding new features (including, potentially, to use LinkedIn to validate attendees’ identities), Qu notes that another way to ensure the quality of the events on the platform remains high — and that attendees feel safe — is to steer clear of most free events.

“When organizers are recruiting their own people and curating a community” of paid attendees who they know or can ostensibly learn more about, it keeps things above the level, she suggests, noting that paid attendees also show up in far greater numbers.

As Run The World scales, she concedes, “we’ll need to figure out new ways.”

Certainly, the lessons learned at Facebook and Instagram should help as the business picks up momentum and creates more structure around its offerings. Besides, Qu adds, “The ideal event to me isn’t one with 2 million people. I’d rather we hosted 2 million events with 50 people.”

Source: Tech Crunch Startups | Andreessen Horowitz has backed Run The World, a startup with a timely offering: live online events

“We want to change the way freight moves,” says Oren Zaslansky, the chief executive and founder of Flock Freight.

His company, which has been operating in stealth mode for the last two years, has finally emerged with a new solution for freight shipping that purports to bring in more money to shippers, remove inefficiencies in the current hub-and-spoke model for freight and offer better deals to shipping customers.

He’s also got $50 million in financing in the bank in what is one of the largest recent investments in a San Diego-based company.

For Zaslansky, the shipping business is a family affair. “My parents grew up in the moving business… I grew up around both entrepreneurship and freight,” he says.

Those twin passions led him to start his own trucking business out of college in the San Diego area. He also launched a brokerage business to support supply chain logistics. The exposure to both is what led Zaslansky to launch Flock Freight and its big new financing round, which closed earlier this week.

The company raised its cash to change the way shippers move small amounts of goods — those less-than-a-truckload-sized amounts that have to move through hub-and-spoke operations which increase the time goods are on the road and the possibility for breakage as they’re unloaded and reloaded onto different delivery vehicles.

“We want to disintermediate the infrastructure of hub and spoke,” says Zaslansky. “We want to carpool. We use our technology to change the way freight moves.”

Zaslansky isn’t talking about very small orders that can be delivered through a service like Roadie — the delivery company that raised $39 million from investors led by Home Depot back in February 2019.

This is still trucking — it’s a carpool in a 70-foot-long tractor trailer. Flock Freight works by reaching out to small and mid-size trucking companies and integrating their orders onto the shipments that these firms are already making. “We go to the carriers that are much more used to working with a third party to fill up empty trucks,” Zaslansky says.  

Right now, that’s about 15% of the $110 billion freight and logistics trucking market, Zaslansky says.

The new investments into Flock Freight came from SignalFire and GLP Capital Partners in mid-February and they were likely drawn to the company’s claims that its service can eliminate damage claims, collect freight from multiple shippers and optimize route delivery for a 40% savings in fuel emissions, and the guaranteed delivery rate of 97.5%. 

Companies like Tuft & Needle and Titan Supply Group are already using the company’s services, according to a statement from Flock Freight.

Flock Freight makes its market by having a window into the spare capacity of trucks and charging shippers for the exact amount of capacity that they’re using. “We want to go to a shipper and say — that [cargo] is 75% of the truck and we’ll charge you 75% of the truck,” said Zaslansky. For carriers, they can say that the price they’ve charged is for 100% of the truck and Flock Freight will add another 10 feet of freight and an additional $1,000 into a carrier’s pocket, Zaslansky said.

Source: Tech Crunch Startups | Improving the logistics of trucking, San Diego’s Flock Freight raises million

Earlier today, during an eye-popping market selloff, DoorDash announced that it has privately filed to go public. The decision to file privately will allow the high-valued startup to get its S-1 documents in good order with the SEC before showing the rest of us what it has up its sleeve.

The move to announce its private filing is more interesting and could be related to prepping demand for its shares, providing some PR-cover for backer SoftBank, which could use the assist, or, perhaps, to dampen investor excitement for rival companies, in the face of DoorDash’s implied success and maturity.

Whatever the reasons behind the timing — some of which must deal with the capital requirements of long-running cash burn — the filing is a new milestone for the on-demand and gig economies. And how well DoorDash’s filing is received, predicated in no small part on its recent financial performance, will help set sentiment for a number of other, richly backed startups.

So let’s remind ourselves of what we know about DoorDash’s financial history. This will give us a workable foundation heading into its eventual S-1, and, we presume, old-fashioned IPO. (It’s hard to imagine the cash-fired engine that is DoorDash looking toward a direct listing.) We’ll dig through its fundraising, unearth what we know about its revenue over time and turn over some data concerning its hiring efforts in recent months to better understand its IPO prep.

History

DoorDash’s fundraising history is well-known but worth recalling sequentially.

Source: Tech Crunch Startups | Quick notes on the DoorDash IPO filing

TC Early Stage SF goes down on April 28, and we are more excited than ever to introduce this brand new event to the community.

The day-long event is meant to give early-stage founders the chance to pick their own adventure, hearing from a wide variety of experts in fundraising, marketing and operations in a more intimate, Q&A-centered environment. Unlike our other events, which usually center around a single, large stage, Early Stage will feature speakers in breakout rooms fit for ~100 people, who will give their own tactical advice and then answer audience questions.

We’re thrilled to announce that James Currier, Sarah Nahm, Arun Mathew and Vlad Magdalin will be joining us at the event.

James Currier

A serial entrepreneur, James Currier has led four VC-backed companies (Tickle, acquired by Monster; WonderHill, acquired by Kabam; Iron Pearl, acquired by PayPal; and Jiff (acquired by Castlight). He’s an early pioneer of some of the most-used tactics in the tech startup world, including viral marketing, A/B testing and crowdsourcing. In 2015, Currier co-founded NFX, an early-stage venture firm with $425 million under management.

How to move fast and find the right VC investors

Learn the right and wrong ways to find and approach the right investors for your startup. Discover the six elements VCs look for that will make your process fast, in this lightning talk with James Currier, investor in over 130 startups and managing partner at NFX Capital.

Sarah Nahm

Sarah Nahm began her tech career at Google after graduating from Stanford with a bachelor’s degree in engineering and product design. She’s now CEO and founder of Lever, an enterprise SaaS startup with more than $70 million in funding. Lever boasts a 50-50 gender ratio, with 53% women in management, 40% women on its board, and is overall 40% non-white.

What scale-stage execs need to know about culture and D&I during hypergrowth

Your company’s culture and commitment to diversity and inclusion shouldn’t take a backseat when hiring at scale. Hear from Sarah Nahm, CEO of Lever, on how her company has evolved their culture as they grew from 20 to 250 while keeping D&I at the forefront of how they hire. A leader in the D&I and hiring space, Sarah will share actionable advice from Lever, her time at Google, and examples from leaders in the tech industry.

Arun Mathew and Vlad Magdalin

Vlad Magdalin is the founder and CEO of Webflow, a no-code tool that allows designers and entrepreneurs to build websites and apps easily. Magdalin bootstrapped Webflow for seven years, bringing the company to profitability before ever entertaining the idea of VC money. Arun Mathew, who leads growth investments in enterprise, security and infrastructure markets for Accel, ended up leading Webflow’s first investment ever.

The business of bootstrapping

Webflow was bootstrapped and profitable for seven years before co-founder and CEO Vlad Magdalin trusted Accel’s Arun Mathew as their first institutional investor. Hear how Magdalin designed a sustainable, high-growth business without institutional investment, and the surprising factors that led him to take VC investment.

There will be about 50+ breakout sessions at the show, and attendees will have an opportunity to attend at least seven. The sessions will cover all the core topics confronting early-stage founders — up through Series A — as they build a company, from raising capital to building a team to growth. Each breakout session will be led by notables in the startup world on par with the folks we’ve announced today. 

But wait, there’s more! Don’t worry about missing a breakout session, because transcripts from each will be available to show attendees. And most of the folks leading the breakout sessions have agreed to hang at the show for at least half the day and participate in CrunchMatch, TechCrunch’s platform to connect founders and investors based on shared interests.

Here’s the fine print. Each of the breakout sessions is limited to around 100 attendees. We expect a lot more attendees, of course, so signups for each session are on a first-come, first-serve basis. Buy your ticket today and you can sign up for the breakouts we are announcing today, plus you’ll save $50 with the early-bird discount. Pass holders will also receive advance notice before we announce the next batch. (And yes, you can “drop” a breakout session in favor of a new one, in the event there is a schedule conflict.)

So get your TC Early Stage: San Francisco pass today, and get the inside track on the sessions we announced today, as well as the ones to be announced in the coming weeks. 

Possible sponsor? We have some very nifty ways to bring sponsors in on the show flow, so please contact us here!

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Source: Tech Crunch Startups | James Currier, Sarah Nahm, Arun Mathew and Vlad Magdalin to speak at Early Stage SF