WeWork

John Legere is stepping down as CEO of T-Mobile, succeeded by deputy Mike Sievert on May 1

Posted by | adam neumann, AT&T, deutsche telekom, john legere, M&A, Mobile, Personnel, Softbank, SoftBank Group, sprint, T-Mobile, TC, telecommunications, united nations, United States, Verizon, WeWork | No Comments

He’s reportedly not going to take over WeWork, but John Legere is definitely on his way out of the CEO role at T-Mobile, the carrier that is currently merging with SoftBank-controlled Sprint. Today the carrier and Legere confirmed that Mike Sievert — currently T-Mobile’s COO — will succeed Legere as CEO on May 1 of 2020. Legere will stay on the board.

Neither Legere nor T-Mobile commented on what his next move will be, and specifically if this will pave the way for him to take over the top job at WeWork. There had been reports that Legere — something of a turnaround specialist — was being lined up for the job at the very troubled office-space startup, which had to shelve its IPO earlier this year after showing poor financials amid questionable management that not only led to the departure of its founder Adam Neumann as CEO, but a strong devaluation of the company that resulted in SoftBank, as a major creditor, taking control.

The reports of Legere coming in to fix things at WeWork seemed to get refuted quite swiftly. However, the same “sources” that quashed that story also insisted he had “no plans” to leave T-Mobile. With elements of the report in doubt, that could put the WeWork rumors (or thoughts of other SoftBank roles, for that matter) back on the table. We’ve asked Legere directly and will update this post if he replies.

Legere has been with T-Mobile since 2012, where he used his irreverent personality to directly spar with the industry while at the same time position the carrier — which has long trailed bigger competitors like AT&T and Verizon (which owns us) in size — as a growth story and different from the pack (hence the “un-carrier” marketing strategy). The stock price has over that time gone up, and the carrier is currently valued at around $65 billion. (Notably, the stock is down about 1.5% today on the back of this news.)

Sievert will be tasked with continuing the route that Legere set, T-Mobile said, “demonstrating that T-Mobile will remain a disruptive force in US wireless marketplace to benefit consumers.”

“I hired Mike in 2012 and I have great confidence in him. I have mentored him as he took on increasingly broad responsibilities, and he is absolutely the right choice as T-Mobile’s next CEO,” said Legere in a statement. “Mike is well prepared to lead T-Mobile into the future. He has a deep understanding of where T-Mobile has been and where it needs to go to remain the most innovative company in the industry. I am extremely proud of the culture and enthusiasm we have built around challenging the status quo and our ongoing commitment to putting customers first.”

“The Un-carrier culture, which all our employees live every day, will not change,” Sievert said in a separate statement. “T-Mobile is not just about one individual. Our company is built around an extraordinarily capable management team and thousands of talented, committed, and customer-obsessed employees. Going forward, my mission is to build on T-Mobile’s industry-leading reputation for empowering employees to deliver an outstanding customer experience and to position T-Mobile not only as the leading mobile carrier, but as one of the most admired companies in America.”

Regardless of whether this is a sign that SoftBank indeed has a job lined up for Legere at one of its other portfolio companies, such as WeWork, the changing of the guard makes some sense, as the merger with Sprint would leave a question mark over who would lead the combined business. The two companies were reportedly close to releasing a management line-up for the merged business earlier this year, but that has yet to happen. The merger is due to be completed early next year.

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China Roundup: TikTok stumbles in the US and Huawei shipments continue to surge

Posted by | alibaba, Android, Ant Financial, Apple, Asia, Beijing, bytedance, China, China Roundup, daniel zhang, huawei, kunlun, musical.ly, smartphones, TC, Tencent, tiktok, WeChat, WeWork | No Comments

Hello and welcome back to TechCrunch’s China Roundup, a digest of recent events shaping the Chinese tech landscape and what they mean to people in the rest of the world. It’s been a very busy last week of October for China’s tech bosses, but first, let’s take a look at what some of them are doing in the neck of your woods.

TikTok’s troubles in the U.S.

The challenge facing TikTok, a burgeoning Chinese video-sharing app, continues to deepen in the U.S. Lawmakers have recently called for an investigation into the social network, which is operated by Beijing-based internet upstart ByteDance, over concerns that it could censor politically sensitive content and be compelled to turn American users’ data over to the Chinese government.

TikTok is arguably the first Chinese consumer app to have achieved international scale — more than 1 billion installs by February. It’s done so with a community of creators good at churning out snappy, light-hearted videos, highly localized operations and its acquisition of rival Musical.ly, which took American teens by storm. In contrast, WeChat has struggled to build up a significant overseas presence and Alibaba’s fintech affiliate Ant Financial has mostly ventured abroad through savvy investments.

TikTok denied the American lawmakers’ allegations in a statement last week, claiming that it stores all U.S. user data locally with backup redundancy in Singapore and that none of its data is subject to Chinese law. Shortly after, on November 1, Reuters reported citing sources that the U.S. government has begun to probe into ByteDance’s acquisition of Musical.ly and is in talks with the firm about measures it could take to avoid selling Musical.ly . ByteDance had no further comment to add beyond the issued statement when contacted by TechCrunch.

The new media company must have seen the heat coming as U.S.-China tensions escalate in recent times. In the long term, TikTok might have better luck expanding in developing countries along China’s Belt and Road Initiative, Beijing’s ambitious global infrastructure and investment strategy. The app already has a footprint in some 150 countries with a concentration in Asia. India accounted for 44% of its total installs as of September, followed by the U.S. at 8%, according to data analytics firm Sensor Tower.

lark

ByteDance is also hedging its bets by introducing a Slack-like workplace app and is reportedly marketing it to enterprises in the U.S. and other foreign countries. The question is, will ByteDance continue its heavy ad spending for TikTok in the U.S., which amounted to as much as $3 million a day according to a Wall Street Journal report, or will it throttle back as it’s said to go public anytime soon? Or rather, will it bow to U.S. pressure, much like Chinese internet firm Kunlun selling LGBTQ dating app Grindr (Kunlun confirmed this in a May filing), to offload Musical.ly?

Huawei is still selling a lot of phones

The other Chinese company that’s been taking the heat around the world appears to be faring better. Huawei clung on to the second spot in global smartphone shipments during the third quarter and recorded the highest annual growth out of the top-5 players at 29%, according to market analytics firm Canalys. Samsung, which came in first, rose 11%. Apple, in third place, fell 7%. Despite a U.S. ban on Huawei’s use of Android, the phone maker’s Q3 shipments consisted mostly of models already in development before the restriction was instated, said Canalys. It remains to be seen how distributors around the world will respond to Huawei’s post-ban smartphones.

Another interesting snippet of Huawei handset news is that it’s teamed up with a Beijing-based startup named ACRCloud to add audio recognition capabilities to its native music app. It’s a reminder that the company not only builds devices but has also been beefing up software development. Huawei Music has a content licensing deal with Tencent’s music arm and claims some 150 million monthly active users, both free and paid subscribers.

Co-living IPOs

danke apartment

China’s modern-day nomads want flexible and cost-saving housing as much as their American counterparts do. The demand has given rise to apartment-rental services like Danke, which is sometimes compared to WeLive, a residential offering from the now besieged WeWork that provides fully-furnished, shared apartments on a flexible schedule.

Four-year-old Danke has filed with the U.S. Securities and Exchange Commission and listed its offering size at $100 million, typically a placeholder to calculate registration fees. Backed by Jack Ma-controlled Ant Financial, the loss-making startup is now leasing in 13 Chinese cities, aggressively growing the number of apartments it operated to 406,746 since 2015. Its smaller rival Qingke has also filed to go public in the U.S. this week. Also operating in the red, Qingke has expanded its available rental units to 91,234 since 2012.

Apartment rental is a capital-intensive game. Services like Danke don’t normally own property but instead lease from third-party apartment owners. That means they are tied to paying rents to the landlords irrespective of whether the apartments are ultimately subleased. They also bear large overhead costs from renovation and maintenance. Ultimately, it comes down to which player can arrange the most favorable terms with landlords and retain tenants by offering quality service and competitive rent.

Also worth your attention

  • WeChat has been quite restrained in monetization but seems to be recently lifting its commercial ambitions. The social networking giant, which already sells in-feed ads, is expanding its inventory by showing users geotargeted ads as they scroll through friends’ updates, Tencent announced (in Chinese) in a company post this week.
  • Alibaba reported a 40% revenue jump in its September quarter, beating analysts’ estimates despite a cooling domestic economy. Its ecommerce segment saw strong user growth in less developed areas where it’s fighting a fierce war with rival Pinduoduo to capture the next online opportunity. Users from these regions spent about 2,000 yuan ($284) in their first year on Alibaba platforms, said CEO Daniel Zhang in the earnings call.
  • Walmart’s digital integration is gaining ground in China as it announced (in Chinese) that online-to-offline commerce now contributes 30% sales to its neighboorhood stores. Last November, the American retail behemoth began testing same-day delivery in China through a partnership with WeChat.

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‘We are seeing volume and interest in Peloton explode,’ says company president on listing day

Posted by | Android, barnes & noble, Canada, economy, Fundings & Exits, Germany, initial public offering, john foley, linguistics, London, Lyft, Media, New York, Peloton, Pinterest, pittsburgh, Startups, tampa, Uber, unicorn, United Kingdom, United States, Venture Capital, WeWork | No Comments

This morning, Peloton (NASDAQ: PTON), the tech-enabled stationary bicycle and fitness content streaming company, raised $1.2 billion in its NASDAQ initial public offering. Despite dropping more than 10% in its first day of trading — ultimately closing down 11% at $25.84 per share — the IPO was a bona fide success. Peloton, once denied (over and over again) by VC skeptics, now has hundreds of millions of dollars to take its business into a new era. One in which, the media, hardware, software, logistics and social company attempts to become a generation-defining company akin to Apple.

Founded in 2012 — six years after Soul Cycle opened its first cycling studio in New York’s Upper East Side and two years before a Soul Cycle founder, Ruth Zukerman, jumped ship to launch her own indoor cycling business, Flywheel Sports — a man by the name of John Foley made the ambitious, some might say foolish, decision to start a company that would sell these exercise bikes direct-to-consumer. That way, you could take a Soul Cycle class, in essence, in the comfort of your own home. Even better, technology would improve the experience.

As my colleague Josh Constine recently described it, these bikes come outfitted with a 22-inch Android screen, transforming an outdated exercising experience and bringing it into 2019: “It makes lazy people like me work out. That’s the genius of the Peloton bicycle. All you have to do is Velcro on the shoes and you’re trapped. You’ve eliminated choice and you will exercise,” Constine writes.

Peloton’s ability to get people exercise — a feature driven by its talented instructors (some of whom were poached from competitor Flywheel Sports) — ultimately had venture capital investors funneling $1 billion, roughly, into the business. Today, Peloton operates dozens of showrooms across the U.S., counts 1.4 million total community members — defined as any individual who has a Peloton account — and over 500,000 paying subscribers. Why? Because the company, as stated in its IPO prospectus, “sells happiness.”

“Peloton is so much more than a Bike — we believe we have the opportunity to create one of the most innovative global technology platforms of our time,” writes Foley. “It is an opportunity to create one of the most important and influential interactive media companies in the world; a media company that changes lives, inspires greatness, and unites people.”

Peloton Bike Lifestyle 04

Peloton’s flagship product, a tech-enabled stationary bike.

Peloton’s community coupled with the high margins on sales of its $2,245 bikes had the company reporting $915 million in total revenue for the year ending June 30, 2019, an increase of 110% from $435 million in fiscal 2018 and $218.6 million in 2017. Its losses, meanwhile, hit $245.7 million in 2019, up significantly from a reported net loss of $47.9 million last year.

What’s next for Peloton? The opportunities are endless, given the company’s firm seat at the intersection of hardware, software, media content and more. A third product may be in the works, expansion to international markets or new instructors. Peloton is going after a massive market ripe for disruption. What’s certain is that we’ll see a whole lot of cash flowing into fitness tech copycats in the next couple of years.

Peloton, following a number of lukewarm consumer IPOs (Uber), nearly doubled its valuation to $8.1 billion this morning after pricing its IPO at the top of its range, $29 per share. To answer some of our most burning questions, we chatted with Peloton’s president William Lynch, the former CEO of Barnes & Noble, about the float.

The following conversation has been edited for length and clarity.

William Lynch

Peloton president and former Barnes & Noble CEO William Lynch.


Kate Clark: What’s next for Peloton?
William Lynch: We now have over a billion in capital to fuel more growth, especially in the area of product innovation.

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Proxy raises $13.6M to unlock anything with Bluetooth identity

Posted by | Apps, Coatue Management, Enterprise, funding, Fundings & Exits, keyless entry, Kleiner Perkins, Mobile, proxy, Recent Funding, Startups, TC, WeWork, Y Combinator | No Comments

You know how kings used to have trumpeters heralding their arrival wherever they went? Proxy wants to do that with Bluetooth. The startup lets you instantly unlock office doors and reserve meeting rooms using Bluetooth Low Energy signal. You never even have to pull out your phone or open an app. But Proxy is gearing up to build an entire Bluetooth identity layer for the world that could invisibly hover around its users. That could allow devices around the workplace and beyond to instantly recognize your credentials and preferences to sign you into teleconferences, pay for public transit or ask the barista for your usual.

Today, Proxy emerges from stealth after piloting its keyless, badgeless office entry tech with 50 companies. It’s raised a $13.6 million Series A round led by Kleiner Perkins to turn your phone into your skeleton key. “The door is a forcing function to solve all the hard problems — everything from safety to reliability to the experience to privacy,” says Proxy co-founder and CEO Denis Mars. “If you’re gonna do this, it’s gonna have to work right, and especially if you’re going to do this in the workplace with enterprises where there’s no room to fix it.”

But rather than creepily trying to capitalize on your data, Proxy believes you should own and control it. Each interaction is powered by an encrypted one-time token so you’re not just beaming your unprotected information out into the universe. “I’ve been really worried about how the internet world spills over to the physical world. Cookies are everywhere with no control. What’s the future going to be like? Are we going to be tracked everywhere or is there a better way?” He figured the best path to the destiny he wanted was to build it himself.

Mars and his co-founder Simon Ratner, both Australian, have been best buddies for 10 years. Ratner co-founded a video annotation startup called Omnisio that was acquired by YouTube, while Mars co-founded teleconferencing company Bitplay, which was bought by Jive Software. Ratner ended up joining Jive where the pair began plotting a new startup. “We asked ourselves what we wanted to do with the next 10 or 20 years of our lives. We both had kids and it changed our perspective. What’s meaningful that’s worth working on for a long time?”

They decided to fix a real problem while also addressing their privacy concerns. As he experimented with Internet of Things devices, Mars found every fridge and light bulb wanted you to download an app, set up a profile, enter your password and then hit a button to make something happen. He became convinced this couldn’t scale and we’d need a hands-free way to tell computers who we are. The idea for Proxy emerged. Mars wanted to know, “Can we create this universal signal that anything can pick up?”

Most offices already have infrastructure for badge-based RFID entry. The problem is that employees often forget their badges, waste time fumbling to scan them and don’t get additional value from the system elsewhere.

So rather than re-invent the wheel, Proxy integrates with existing access control systems at offices. It just replaces your cards with an app authorized to constantly emit a Bluetooth Low Energy signal with an encrypted identifier of your identity. The signal is picked up by readers that fit onto the existing fixtures. Employees can then just walk up to a door with their phone within about six feet of the sensor and the door pops open. Meanwhile, their bosses can define who can go where using the same software as before, but the user still owns their credentials.

“Data is valuable, but how does the end user benefit? How do we change all that value being stuck with these big tech companies and instead give it to the user?” Mars asks. “We need to make privacy a thing that’s not exploited.”

Mars believes now’s the time for Proxy because phone battery life is finally getting good enough that people aren’t constantly worried about running out of juice. Proxy’s Bluetooth Low Energy signal doesn’t suck up much, and geofencing can wake up the app in case it shuts down while on a long stint away from the office. Proxy has even considered putting inductive charging into its sensors so you could top up until your phone turns back on and you can unlock the door.

Opening office doors isn’t super exciting, though. What comes next is. Proxy is polishing its features that auto-reserve conference rooms when you walk inside, that sign you into your teleconferencing system when you approach the screen and that personalize workstations when you arrive. It’s also working on better office guest check-in to eliminate the annoying iPad sign-in process in the lobby. Next, Mars is eyeing “Your car, your home, all your devices. All these things are going to ask ‘can I sense you and do something useful for you?’ ”

After demoing at Y Combinator, thousands of companies reached out to Proxy, from hotel chains to corporate conglomerates to theme parks. Proxy charges for its hardware, plus a monthly subscription fee per reader. Employees are eager to ditch their keycards, so Proxy sees 90 percent adoption across all its deployments. Customers only churn if something breaks, and it hasn’t lost a customer in two years, Mars claims.

The status quo of keycards, competitors like Openpath and long-standing incumbents all typically only handle doors, while Proxy wants to build an omni-device identity system. Now Proxy has the cash to challenge them, thanks to the $13.6 million from Kleiner, Y Combinator, Coatue Management and strategic investor WeWork. In fact, Proxy now counts WeWork’s headquarters and Dropbox as clients. “With Proxywe can give our employees, contractors and visitors a seamless smartphone-enabled access experience they love, while actually bolstering security,” says Christopher Bauer, Dropbox’s physical security systems architect.

The cash will help answer the question of “How do we turn this into a protocol so we don’t have to build the other side for everyone?,” Mars explains. Proxy will build out SDKs that can be integrated into any device, like a smoke detector that could recognize which people are in the vicinity and report that to first responders. Mars thinks hotel rooms that learn your climate, wake-up call and housekeeping preferences would be a no-brainer. Amazon Go-style autonomous retail could also benefit from the tech.

When asked what keeps him up at night, Mars concludes that “the biggest thing that scares me is that this requires us to be the most trustworthy company on the planet. There is no ‘move fast, break things’ here. It’s ‘move fast, do it right, don’t screw it up.’ “

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First China, now Starbucks gets an ambitious VC-funded rival in Indonesia

Posted by | alibaba, alibaba group, Android, Apps, Asia, carsharing, China, East Ventures, funding, Fundings & Exits, go-jek, Google, grab, Indonesia, Insignia Ventures Partners, internet access, Jakarta, JD.com, managing partner, mcdonalds, online food ordering, online marketplaces, pizza hut, Singapore, Southeast Asia, starbucks, temasek, Tencent, United States, WeWork | No Comments

Asia’s venture capital-backed startups are gunning for Starbucks .

In China, the U.S. coffee giant is being pushed by Luckin Coffee, a $2.2 billion challenger surfing China’s on-demand wave, and on the real estate side, where WeWork China has just unveiled an on-demand product that could tempt people who go to Starbucks to work or kill time.

That trend is picking up in Indonesia, the world’s fourth largest country and Southeast Asia’s largest economy, where an on-demand challenger named Fore Coffee has fueled up for a fight after it raised $8.5 million.

Fore was started in August 2018 when associates at East Ventures, a prolific early-stage investor in Indonesia, decided to test how robust the country’s new digital infrastructure can be. That means it taps into unicorn companies like Grab, Go-Jek and Traveloka and their army of scooter-based delivery people to get a hot brew out to customers. Incidentally, the name “Fore” comes from “forest” — “we aim to grow fast, strong, tall and bring life to our surrounding” — rather than in front of… or a shout heard on the golf course.

The company has adopted a similar hybrid approach to Luckin, and Starbucks thanks to its alliance with Alibaba. Fore operates 15 outlets in Jakarta, which range from “grab and go” kiosks for workers in a hurry, to shops with space to sit and delivery-only locations, Fore co-founder Elisa Suteja told TechCrunch. On the digital side, it offers its own app (delivery is handled via Go-Jek’s Go-Send service) and is available via Go-Jek and Grab’s apps.

So far, Fore has jumped to 100,000 deliveries per month and its app is top of the F&B category for iOS and Android in Indonesia — ahead of Starbucks, McDonald’s and Pizza Hut .

It’s early times for the venture — which is not a touch on Starbuck’s $85 billion business; it does break out figures for Indonesia — but it is a sign of where consumption is moving to Indonesia, which has become a coveted beachhead for global companies, and especially Chinese, moving into Southeast Asia. Chinese trio Tencent, Alibaba and JD.com and Singapore’s Grab are among the outsiders who have each spent hundreds of millions to build or invest in services that tap growing internet access among Indonesia’s population of more than 260 million.

There’s a lot at stake. A recent Google-Temasek report forecast that Indonesia alone will account for over 40 percent of Southeast Asia’s digital economy by 2025, which is predicted to triple to reach $240 billion.

As one founder recently told TechCrunch anonymously: “There is no such thing as winning Southeast Asia but losing Indonesia. The number one priority for any Southeast Asian business must be to win Indonesia.”

Forecasts from a recent Google-Temasek report suggest that Indonesia is the key market in Southeast Asia

This new money comes from East Ventures — which incubated the project — SMDV, Pavilion Capital, Agaeti Venture Capital and Insignia Ventures Partners, with participation from undisclosed angel backers. The plan is to continue to invest in growing the business.

“Fore is our model for ‘super-SME’ — SME done right in leveraging technology and digital ecosystem,” Willson Cuaca, a managing partner at East Ventures, said in a statement.

There’s clearly a long way to go before Fore reaches the size of Luckin, which has said it lost 850 million yuan, or $124 million, inside the first nine months in 2018.

The Chinese coffee challenger recently declared that money is no object for its strategy to dethrone Starbucks. The U.S. firm is currently the largest player in China’s coffee market, with 3,300 stores as of last May and a goal of topping 6,000 outlets by 2022, but Luckin said it will more than double its locations to more than 4,500 by the end of this year.

By comparison, Indonesia’s coffee battle is only just getting started.

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Daily Crunch: Well Facebook, you did it again

Posted by | Apps, Daily Crunch, Facebook, Fundings & Exits, Gadgets, Hack, hardware, Mobile, Security, Social, Startups, WeWork | No Comments

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here:

1. Facebook is the new crapware 

Well Facebook, you did it again. Fresh off its latest privacy scandal, the troubled social media giant has inked a deal with Android to pre-install its app on an undisclosed number of phones and make the software permanent. This means you won’t be able to delete Facebook from those phones. Thanks, Facebook.

2. The world’s first foldable phone is real 

Chinese company Royole has beaten Samsung to the market and has been showing off a foldable phone/tablet this week at CES. While it’s not the most fluid experience, the device definitely works at adapting to your needs.

3. CES revokes award from female-founded sex tech company
Outcries of a double-standard are pouring out of CES after the Consumer Tech Association revoked an award from a company geared toward women’s sexual health.

4. Everything Google announced at CES 2019 

Google went all in on the Assistant this year at CES. The company boasted that the voice-enabled AI will make its way onto a billion devices by the end of the month — up from 400 million last year. But what’s most exciting is the expanded capabilities of Google’s Assistant. Soon you’ll be able to check into flights and translate conversations on the fly with a simple “Hey Google.”

5. Rebranding WeWork won’t work 

The company formerly known as WeWork has rebranded to the We Company, but its new strategy has the potential to plunge the company further into debt.

6. Despite promises to stop, US cell carriers are still selling your real-time phone location data

Last year a little-known company called LocationSmart came under fire after leaking location data from AT&T, Verizon, T-Mobile and Sprint users to shady customers. LocationSmart quickly buckled under public scrutiny and promised to stop selling user data, but few focused on another big player in the location tracking business: Zumigo.

7. The best and worst of CES 2019 

From monster displays to VR in cars, we’re breaking down the good, the bad and the ugly from CES 2019.

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See you tomorrow in Las Vegas

Posted by | Consumer Electronics Show, Culture, Gadgets, Las Vegas, meetup, TC, WeWork | No Comments

We will be holding a small event during CES in Las Vegas and we want to see you! We’re looking to meet some cool hardware and crypto startups, so the good folks at Work In Progress have opened up their space to us and 200 of you all to hold a meetup and pitch-off.

We’ll have some pizza and beer and we can hit a bar after the event for some one on one time with the TC folks.

The event will be held at Work In Progress, 317 South 6th Street on Wednesday, January 9, 2019 between 6:00 PM – 9:00 PM PST.

The meetup is sold out but please attend if you’ve picked up a ticket. Thanks!

See you in Vegas!

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Join us in Las Vegas during CES

Posted by | cognitive science, Gadgets, Las Vegas, meetup, perception, pitch-off, Startups, TC, WeWork | No Comments

We will be holding a small event during CES in Las Vegas and we want to see you! We’re looking to meet some cool hardware and crypto startups, so the good folks at Work In Progress have opened up their space to us and 200 of you all to hold a meetup and pitch-off.

The event will be held at Work In Progress, 317 South 6th Street on Wednesday, January 9, 2019 between 6:00 PM – 9:00 PM PST.

There are only 200 tickets, so if you want to come please pick one up ASAP. The meetup is open to everyone, so head over if you’d like to talk tech. You can pick up a ticket here.

If you’d like to pitch at the event I’ll be picking 10 companies that will have three minutes to pitch without slides. Because this is a hardware event I recommend bringing a few of your items to show off. If you’d like to pitch, fill this out and I will contact those who will be coming up on stage.

See you in Vegas!

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Gjemeni puts your couch in a box

Posted by | design, furniture, Gadgets, H&M, ikea, Netflix, Smart phones, TC, WeWork | No Comments

Gjemeni, pronounced Gemini, is a new furniture-on-demand service from founder Sean Pathiratne. The company offers decidedly tech-forward furniture that comes in a single box and can be assembled by anyone in a few minutes.

Pathiratne sees his company as a fashionable and agile furniture company that brings stylish stuff to your living room in the vein of Zara or H&M.

“We can create and deliver on trends through our technology-led global supply chain with the agility and speed of ‘fast fashion.’ We are ‘fast furniture,’” said Pathiratne.

“I live and work in Silicon Valley. I spend a lot of time in WeWork and other co-working places, in the offices of start-ups, and with tech friends,” said Pathiratne . “I observed how millennials live and work. They are a restless bunch physically – which mirrors their restlessness overall. They don’t like the status quo in business or with the objects in their lives. They are constantly shifting and fidgeting on their sofas. They just couldn’t find the right positions. After all, today we are checking our smart phones one minute, leaning back and contemplating the world another minute.”

The result? A plugged-in couch for the plugged-in generation.

“So the implications were obvious: create a multi-position couch for our multi-tasking world. A couch that meets people where they are, rather than the other way around. And also make sure that the next- gen couch had connectivity for the generation that is always plugged in,” he said.

The Gjemeni flagship is a convertible couch that turns from stark seating system into a lie-flat futon. Both sides of the couch have power and USB ports and it has three resting positions.

The company also sells a chair and an ottoman. Each product, from the $999 couch to the $299 leg rest, comes in a massive box that opens to reveal the furniture and a set of legs. To build the stuff you simply snap the legs into the holes on the bottom and flip the couch upright.

I tested one of the couches and can report that it would make a great startup-office seat. The styling, the firmness, and the clever charging ports mean that you can easily make your visitors feel powered-up and comfortable. As a home couch, however, I would recommend trying before you buy. First, at 6.5 feet long, there isn’t much room on the couch for more than two people let alone a small family. Further, the two reclining options are not conducive to many traditional couch activities except, perhaps, for the aftermath of Netflix and chill. The two sides of the back of the couch move from upright to reclined. When upright it is set at almost at 90 degrees – a TV lounging nightmare – and when slightly reclined you fall into a napping position. There is no “just right” with this couch for the home user.

That said this is furniture and your experience may differ. The company offers a 60-day money back guarantee as long as you keep the massive box and at $999 it makes perfect sense to take a flyer on this one. In fact, that’s the point. Like other furniture services, Gjemeni plans to disrupt the visit to Ikea or the furniture store. Because setup is so simple there is little harm in giving it a go and sending it back if you don’t like the size, the firmness, or the fit.

After all, said Pathiratne, the company is all about self-awareness.

“We are built to harness technology in pursuit of wellness. Gjemeni meets our ergonomic needs to relieve pressure on the back and spine, and to adjust so that we can take a power nap (we all know how important sleep is to wellness) or simply meditate and ground ourselves,” said Pathiratne.

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WeWork’s Adam Neumann on how to hit $1B in revenue with a careful balance

Posted by | disrupt ny, Disrupt NY 2017, Enterprise, Mobile, Startups, TC, techcrunch disrupt ny, WeWork | No Comments

 WeWork, which is said to be raising as much as $4 billion at a valuation of more than $20 billion, is still on its way to hitting $1 billion in annual revenue this year — though CEO Adam Neumann said at TechCrunch Disrupt NY 2017 that it’s not quite as simple as betting big on enterprise deals. Neumann said that enterprise deals, which would help handle office space for larger… Read More

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