December 9, 2019 News Magazine

Month: March 2019


Covert data-scraping on watch as EU DPA lays down “radical” GDPR red-line

March 30, 2019

March 30, 2019

An interesting decision came out of Poland’s data protection agency this week after the watchdog issued its first fine under...

Sega’s Genesis/Mega Drive Mini arrives in September

March 30, 2019

March 30, 2019

Whether you call it the Genesis or the Mega Drive, Sega’s 16 bit system holds a special place in the...

EC Weekly: Gaming, crypto, shipping and the multiple future strategies of tech

March 30, 2019

March 30, 2019

Niantic EC-1 Illustration by Nigel Sussman Greg Kumparak published the first part of his planned four part EC-1 series on...

Remote workers and nomads represent the next tech hub

March 30, 2019

March 30, 2019

Amid calls for a dozen different global cities to replace Silicon Valley — Austin, Beijing, London, New York — nobody has yet nominated “nowhere.” But it’s now a possibility. There are two trends to unpack here. The first is startups that are fully, or almost fully, remote, with employees distributed around the world. There’s a growing list of significant companies in this category: Automattic, Buffer, GitLab, Invision, Toptal and Zapier all have from 100 to nearly 1,000 remote employees. The second trend is nomadic founders with no fixed location. For a generation of founders, moving to Silicon Valley was de rigueur. Later, the emergence of accelerators and investors worldwide allowed a wider range of potential home bases. But now there’s a third wave: a culture of traveling with its own, growing support networks and best practices. You don’t have to look far to find startup gurus and VCs who strongly advise against being remote, much less a nomad. The basic reasoning is simple: No..

Startups Weekly: Why Lyft’s $2.2B IPO wasn’t “crazy land” or “nuts”

March 30, 2019

March 30, 2019

Lyft completed its long-awaited IPO this week, trading 21 percent higher Friday than its initial offering price of $72 per share. It closed its first day of trading at about $78 per share, up roughly 9 percent. I spoke to IPO guru Brian Hamilton, the CEO of banking software company Sageworks, about Lyft’s offering to get a sense of how Wall Street views the buzzworthy tech unicorn. As I wrote earlier this week, Wall Street doesn’t seem to care about profitability, prioritizing growth instead. Lyft is definitely growing, quickly, and working hard to shrink its losses. Hamilton said the price per share was reasonable, and, given Lyft’s positive cash flows, he seemed confident the company will fare well on the Nasdaq this year. He was especially clear about one thing: Lyft’s offering is nothing like Snap’s. “The camera company,” if you remember, had posted only $404.5 million in revenue ahead of its IPO, which valued it at $23.8 billion: “It’s not crazy land; it’s not nuts; it’s not Twi..

Startups Weekly: Why Lyft’s $2.2B IPO wasn’t “crazy land” or “nuts”

March 30, 2019

March 30, 2019

Lyft completed its long-awaited IPO this week, trading 21 percent higher Friday than its initial offering price of $72 per...

In San Francisco, a fight over a homeless shelter shines a harsh light on a conflicted population

March 30, 2019

March 30, 2019

As of 2017, there were roughly 7,000 people living without homes in San Francisco, a number that comprises minors —...

Valve is building its own high-end VR headset called ‘Index’

March 30, 2019

March 30, 2019

Valve is ready to sell its own full VR hardware getup. The gaming giant behind some classic titles and the...

Toast, the restaurant management platform, has raised $250M at a $2.7B valuation

March 29, 2019

March 29, 2019

Restaurant sales hit $825 billion last year in the U.S., but with margins averaging at only three to five percent per business, they’re always looking for an edge on efficiency and just generally running things in a smarter way. A startup called Toast, which has built a popular platform for restaurant management, has closed a hefty round of funding to double down on that opportunity to do that. The company has raised $250 million on a valuation of $2.7 billion, money that it will use to invest in building technology to help restaurants with marketing, recruitment and operational efficiency, as well as start to think about expanding to more territories outside the U.S. The basics of the funding were flagged earlier today by Prime Unicorn Index and we reached out to the company to confirm. It is being led by TCV and Tiger Global Management, with participation from Bessemer Venture Partners and T. Rowe Price Associates funds and other existing investors. This Series E is a big bump up ..

Toast, the restaurant management platform, has raised $250M at a $2.7B valuation

March 29, 2019

March 29, 2019

Restaurant sales hit $825 billion last year in the US, but with margins averaging at only three to five percent...