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June 16, 2019
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Maisie Williams’ talent discovery startup Daisie raises $2.5 million, hits 100K members

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Maisie Williams’ time on Game of Thrones may have come to an end, but her talent discovery app Daisie is just getting started. Co-founded by film producer Dom Santry, Daisie aims to make it easier for creators to showcase their work, discover projects and collaborate with one another through a social networking-style platform. Only 11 days after Daisie officially launched to the public, the app hit an early milestone of 100,000 members. It also recently closed on $2.5 million in seed funding, the company tells TechCrunch.

The round was led by Founders Fund, which contributed $1.5 million. Other investors included 8VC, Kleiner Perkins, and newer VC firm Shrug Capital, from AngelList’s former head of marketing Niv Dror, who also separately invested. To date — including friends and family money and the founders’ own investment — Daisie has raised roughly $3 million.

It will later move toward raising a larger Series A, Santry says.

On Daisie, creators establish a profile as you would on a social network, find and follow other users, then seek out projects based on location, activity, or other factors.

“Whether it’s film, music, photography, art — everything is optimized around looking for collaborators,” explains Santry. “So the projects that are actively open and looking for people to get involved, are the ones we’re really pushing for people to discover and hopefully get involved with,” he says.

The company’s goal to offer an alternative path to talent discovery is a timely one. Today, the creative industry is waking up — as are many others — to the ramifications of the #MeToo and #TimesUp movements. As power-hungry abusers lose their jobs, new ways of working, networking and sourcing talent are taking hold.

As Williams said when she first introduced the app last year, Daisie’s focus is on giving the power back to the creator.

“Instead of [creators] having to market themselves to fit someone else’s idea of what their job would be, they can let their art speak for themselves,” she said at the time.

The app was launched into an invite-only beta on iOS last summer, and quickly saw a surge of users. After 37,000 downloads in week one, it crashed.

“We realized that the community was a lot larger than the product we had built, and that scale was something we needed to do properly,” Santry tells TechCrunch.

The team realized there was another problem, too: Once collaborators found each other in Daisie, there wasn’t a clear cut way for them to get in touch with one another as the app had no communication tools or ways to share files built in.

“That journey from concept to production was pretty muddy and quite muddled…so we realized, if we were bringing teams together, we actually wanted to give them a place to work — give them this creative hub…and take their project from concept all the way to production on Daisie,” Santry notes.

With this broader concept in mind, Daisie began fundraising in San Francisco shortly after the beta launch. The round initially closed in October 2018, but was more recently reopened to allow Dror’s investment.

With the additional funding in tow, Daisie has been able to grow its team of five to eighteen, including new hires from Monzo, Deliveroo, BBC, Microsoft, and others — specifically engineers who were familiar with designing apps for scale. Tasked with developing better infrastructure and a more expansive feature set, the team set to work on bringing Daisie to the web.

Nine months later, the new version launched to the public and is stable enough to handle the load. Today, it topped 100,000 users — most of which are in London. However, Daisie is planning to focus on taking its app to other cities including Berlin, New York, and L.A. going forward.

The company has monetization ideas in mind, but the app does not currently generate revenue. However, it’s already fielding inquiries from companies who want Daisie to find them the right talent for their projects.

“We want the best for the creators on the platform, so if that means bringing clients on — and hopefully giving those connectivity opportunities — then we’ll absolutely [go] down those roads,” Santry says.

The app may also serve as a talent pipeline for Maisie Williams’ own Daisy Chain Productions. In fact, Daisie recently ran a campaign called London Creates which connected young, emerging creators with project teams, two of which were headed by Santry’s Daisy Chain Productions co-founders, Williams and Bill Milner.

Now Daisy Chain Productions is going to produce a film from the Daisie collaboration as a result.

While celebs sometimes do little more than lend their name to projects, Williams was hands-on in terms of getting Daisie off the ground, Santry says. During the first quarter of 2019, she worked on Daisie 9-to-5, he notes. But she has since started another film project and plans to continue to work as an actress, which will limit her day-to-day involvement. Her role now and in the future may be more high-level.

“I think her role is going to become one of, culturally, like: where does Daisie stand? What do we stand for? Who do we work with? What do we represent?” he says. “How do we help creators everywhere? That’s mainly want Maisie wants to make sure Daisie does.”

Chat app Line is adding Snap-style disappearing stories

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Facebook cloning Snap to death may be old news, but others are only just following suit. Line, the Japanese messaging app that’s popular in Asia, just became the latest to clone Snap’s ephemeral story concept.

The company announced today that it is adding stories that disappear after 24-hours to its timeline feature, a social network like feed that sits in its app, and user profiles. The update is rolling out to users now and the concept is very much identical to Snap, Instagram and others that have embraced time-limited content.

“As posts vanish after 24 hours, there is no need to worry about overposting or having posts remain in the feed,” Line, which is listed in the U.S. and Japan, wrote in an update. “Stories allows friends to discover real-time information on Timeline that is available only for that moment.”

Snap pioneered self-destructed content in its app, and the concept has now become present across most of the most popular internet services in the world.

In particular, Facebook added stories to across the board: to its core app, Messenger, Instagram and WhatsApp, the world’s most popular chat app with over 1.5 billion monthly users. Indeed, Facebook claims that WhatsApp stories are used by 500 million people, while the company has built Instagram into a service that has long had more users than Snap — currently over one billion.

The approach doesn’t always work, though — Facebook is shuttering its most brazen Snap copy, a camera app built around Instagram direct messages.

China’s top chat app WeChat added its own version earlier this year, and while it said in its earnings this week that users upload “hundreds of millions of videos each day” to its social platforms, it didn’t give numbers on its Snap-inspired feature.

Line doesn’t have anything like the reach of Facebook’s constellation of social apps or WeChat, but it is Japan’s dominant messaging platform and is popular in Thailand, Taiwan and Indonesia.

The Japanese company doesn’t give out global user numbers but it reported 164 million monthly users in its four key markets as of Q1 2019, that’s down one million year-on-year. Japan accounts for 80 million of that figure, ahead of Thailand (44 million), Taiwan (21 million) and Indonesia (19 million.)

While user growth has stagnated, Line has been able to extract increase revenue. In addition to a foray into services — in Japan its range covers ride-hailing, food delivery, music streaming and payments — it has increased advertising in the app’s timeline tab, and that is likely a big reason for the release of stories. The new feature may help timeline get more eyeballs, while the company could follow the lead of Snap and Instagram to monetize stories by allowing businesses in.

In Line’s case, that could work reasonably well — for advertising — since users can opt to follow business accounts already. It would make sense, then, to let companies push stories to users that opted in follow their account. But that’s a long way in the future and it will depend on how the new feature is received by users.

Bitcoin has surged above $8,000 and theories around why abound

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Bitcoin is now trading at around $8,130, up a whopping 60.84 percent over the past month, with the price surging $3,086.14 over the period.

The cryptocurrency’s meteoric rise is reminiscent of its rocketing growth in the latter half of 2017, when prices reached over $18,400 on the back of buoyant capital markets, rampant speculation, and a turbulent political climate in Northern Asia spurred by saber rattling between President Donald Trump and North Korea’s dictator, Kim Jong-un.

While geopolitical tension is once again gripping the market (thanks to the ongoing trade war between the U.S. and China), that may only be one factor contributing to Bitcoin’s surge.

“Anticipation of the upcoming supply shock [of new BTC introduced via mining] may be creating upward pressure on the price of Bitcoin,” wrote Alyse Killeen, a partner at the investment and advisory firm Stillmark, in an email. “Bitcoin is introduced to the market when the Bitcoin protocol rewards miners who validate blockchain transactions. Specifically, the Bitcoin protocol gives BTC to miners for adding blocks to the blockchain. Today, miners earn 12.5 BTC for adding a new block that is accepted by the network. In May 2020, the time of the next ‘halvening‘, that reward will be reduced to 6.25 BTC, thereby reducing the total number of BTC introduced to the market on a daily basis.”

Killeen also noted that Bitcoin is inherently more valuable today than it was at the same time last year. More Americans can access Bitcoin through apps like Cash and Robinhood, and TD Ameritrade’s BTC contracts and (soon) eTrade.

Technology advances are also making Bitcoin more useful and more secure, Killeen wrote. The development of the Lightning Network is proceeding and creating a new application ecosystem, while the Blockstream Satellite network is creating redundancies in blockchain availability.

In fact, the number of businesses that take Bitcoin or other cryptocurrencies expanded exponentially yesterday thanks to an agreement between the U.S. dollar-pegged stablecoin purveyor Gemini (owned by the Winkelvoss twins of Facebook and Social Network fame) and the payment network Flexa, whose technology is undergirded by cryptocurrencies.

Using Gemini’s exchange and clearing house and Flexa’s transaction technology most of the stores an American consumer encounters in their trip to the mall now accept Bitcoin or other cryptocurrencies as payments.

That adoption doesn’t explain the bump in Bitcoin prices entirely. And skeptics of digital cryptocurrencies argue that there could be a simpler explanation for the rise in digital currencies right now — good old fashioned price manipulation.

As crypto-skeptic David Gerard wrote in this blog post yesterday:

It’s because the price of Bitcoin is a proxy for margin trading — and rather than investing in the commodity itself, you can make more money by manipulating this thin and ill-regulated market to burn the margin traders.

This also allows the large holders — the “whales,” and the exchanges themselves — to cash out to whatever little actual-money US dollars are available, in a trading system where the liquidity is mostly fake dollars called “tethers.”

Willy Woo explains how short squeezes work in crypto. This is a pattern we see over and over:

1) When the market is majority short, there’s too much money to be had to allow them to win.

2) Whales keep buying up the market until the shorts get liquidated.

3) At liquidation the short seller has to buy back at market price.

4) A tidal wave of buys cascade through the orderbooks, a chain reaction, the price goes vertical.

5) Whale payday. The whales that bought up the market sheparding the price up now dump their positions at profit.

6) Blow-off. The price comes down to its organic levels.

Other investors, like Travis Scher at the Digital Currency Group think that it’s as simple as a new class of investor looking at Bitcoin as a new store of value and a haven for investors looking to escape volatile public markets.

“I spend very little time trying to understand or explain short-term crypto price movements, as the price and the fundamentals often seem to move in diametrically opposed directions. So all I can say with certainty is that there are more buyers than sellers in recent months,” Scher wrote in an email. “But in this case, I do think that one factor driving the rally is that the narrative around Bitcoin as digital gold is growing. We fully expect Bitcoin to replace gold as the leading non-government controlled store of value over the coming decade.”

Kargo is disrupting logistics in Myanmar, one of the world’s most challenging countries

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Founders in Seattle recently bemoaned a lack of capital and support when compared to Silicon Valley — what about those building startups in more remote markets?

Kargo, a company that takes the spirit of Uber and brings it to the disorganized world of trucking, has raised a SG$800,000 (US$580,000) round of funding, giving TechCrunch an excuse to delve into the world of startup development in Myanmar, one of the world’s most curious countries.

Ostracized from the world until its first free general election in 2015, Myanmar — which was previously known as Burma — has seen the world’s most radical digitization. Ruled by the military from 1962 until 2011, the price of a SIM card in the country was $250 as recently as 2013 (a big jump on $3,000-odd in the early 2000s) but that all change around the elections in 2015 when the country opened its doors to outside investment and global companies. Telecom companies rushed in, reducing the price of a SIM card to mere dollars, in U.S. terms, and giving those who bought them gigabits of data to use each month.

That rush saw services like Facebook go from non-existent to the key digital space overnight as Myanmar’s 55 million people poured online — the U.S. social network has failed to cope with that crazy growth. Today, some 46 million people are estimated to be online in the country, with mobile the dominant platform and Facebook the top browser — yep, the social network is that big.

Myanmar is getting its first 4G rollouts and the seeds have been sown for internet businesses and startups.

Simplifying logistics

Kargo — which is not to be confused by the Indonesia company of the same name that’s backed by Uber co-founder Travis Kalanick — was started in 2016 by Alexander Wicks, an Australian expat who had previously run digital marketing businesses.

The young company initially joined Phandeeyar, a tech accelerator in major city Yangon, before dropping out due to a disagreement on terms, CEO and founder Wicks said. He told TechCrunch that he valued the organization, but decided to “fly solo” with the business.

That is a bet that appeared to pay off, so far at least. Kargo won a grant from the GSM Association Ecosystem Accelerator Fund, a unit associated with the GSMA, and it represented Myanmar at the world Seedstars Summit last year. Now, it has secured this new funding led by Singapore-based early-stage specialist Cocoon Capital.

Wicks said the round is a pre-Series A deal and he hopes that Kargo can go on to raise a Series A to fuel overseas growth within the next year or 18 months.

Alexander Wicks started Kargo in 2016

Kargo works with multinational companies, including Coke and Nestle, to help them navigate the complicated world of logistics in Myanmar. By aggregating multiple fleets through its platform, Kargo becomes a single point of contact for companies moving product, thus simplifying the process massively. In the past, they’d deal with copious numbers of middlemen, who would liaise with truck fleets to add unnecessary levels of complication and cost.

“The market is very big, its a core part of how the whole country runs,” he explained, adding that Myanmar’s freight industry is expected to triple in the coming years.

Wicks said Kargo works with some 2,000-odd drivers mostly via fleet owners, who typically operate 5-50 trucks through their business. It disintermediates the aforementioned brokers and middlemen, to help drivers and fleet owners recoup a higher portion of each order and gain access to potential new clients. A partnership with Yoma Bank will also give the startup access to an SME loan that’ll enable it to make daily payouts to drivers that need more immediate cash flow than its regularly weekly deposits.

Kargo is currently close to $200,000 in monthly order volume, with 20-30 percent growth month-to-month during 2019, Wicks shared.

It is now exploring its first steps outside of Myanmar by covering ‘logistics corridors’ into Thailand. Wicks said the company has seen a high level of requests to move overseas from existing clients, and he intends to use those relationships to begin to step into new markets tentatively, starting with Thailand.

The new funding will also go towards developing Kargo’s new — and particularly improving the web app used by drivers — as well as increased education and training for truck operators and drivers.

“It’s very much a product for Myanmar,” Wicks said in an interview. “It’s an old industry being built with a new mindset.”

Finally, hiring is a key focus for the capital, too.

Kargo currently has a team of 32, most of whom are located in Yangon, and that headcount is forecast to rise to as many as 60 this year. Business development, fleet management and operations are the core areas where the startup plans to hire, and that will include beefing up its new office in Mandalay.

Wicks — center in a cap — with the members of the Kargo team

Building a startup in Myanmar

When asked what the hardest part of operating a startup in Myanmar is, Wicks claimed that dealing with the government is just ahead of raising investment money.

“Bureaucracy… there are no stats or systems here,” he said. “We have to deal with a lot of government issues.”

Still, he said, the arrival of Uber and its regional competitor Grab — which ultimately acquired the U.S. firm’s regional business — in Myanmar in 2017 gave Kargo and other on-demand startups in the country a real foothold in working with governments by educating them on new business models.

“They made it clear what a platform is for the government,” Wicks said.

He believes that their arrival, coupled with growing internet usage and increased speed, have also helped get investors comfortable with the idea of investing in tech in Myanmar, although he insisted that they must still be “patient” over growth.

“It’s certainly a much more positive landscape for founders today,” Wicks said. “That trust has changed for investors, there are a few of us building companies across the country.”

Educating and training drivers is a major focus for Kargo following its fundraising

That’s certainly true for Cocoon Capital — which is currently raising for a $20 million fund having completed a first close last year.

Managing partner Michael Blakey told TechCrunch that Kargo is the firm’s second investment from that new fund. He’s equally bullish that Kargo is well placed to take advantage of both digital growth and the development of logistics as Myanmar continues to appeal to overseas businesses.

“Myanmar is the fastest growing economy in Southeast Asia and logistics is a key industry to support this growth,” Blakey said in a statement. “We believe the Kargo platform has the potential to disrupt the trucking industry, not only in Myanmar, but in the region.”

If ‘Myanmar 1.0’ was the establishment of credible startups, then the second chapter will be the cream of that crop venturing overseas. Kargo is one of the early contenders that is intent on making that move.

Developers can now verify mobile app users over WhatsApp instead of SMS

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Facebook today released a new SDK that allows mobile app developers to integrate WhatsApp verification into Account Kit for iOS and Android. This will allow developers to build apps where users can opt to receive their verification codes through the WhatsApp app installed on their phone instead of through SMS.

Today, many apps give users the ability to sign up using only a phone number — a now popular alternative to Facebook Login, thanks to the social network’s numerous privacy scandals that led to fewer people choosing to use Facebook with third-party apps.

Plus, using phone numbers to sign up is common with a younger generation of users who don’t have Facebook accounts — and sometimes barely use email, except for joining apps and services.

When using a phone number to sign in, it’s common for the app to confirm the user by sending a verification code over SMS to the number provided. The user then enters that code to create their account. This process can also be used when logging in, as part of a multi-factor verification system where a user’s account information is combined with this extra step for added security.

While this process is straightforward and easy enough to follow, SMS is not everyone’s preferred messaging platform. That’s particularly true in emerging markets like India, where 200 million people are on WhatsApp, for example. In addition, those without an unlimited messaging plan are careful not to overuse texting when it can be avoided.

That’s where the WhatsApp SDK comes in. Once integrated into an iOS or Android app, developers can offer to send users their verification code over WhatsApp instead of text messaging. They can even choose to disable SMS verification, notes Facebook.

This is all a part of WhatsApp’s Account Kit, which is a larger set of developer tools designed to allow people to quickly register and log in to apps or websites using only a phone number and email, no password required.

This WhatsApp verification codes option has been available on WhatsApp’s web SDK since late 2018, but hadn’t been available with mobile apps until today.

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