Category: Airbnb

May 31, 2019 Off

Slack narrows losses, displays healthy revenue growth

By Jill T Frey

Workplace messaging powerhouse Slack filed an amended S-1 with the U.S. Securities and Exchange Commission on Friday weeks ahead of a direct listing expected June 20.

In the document, Slack included an updated look at its path to profitability, posting first-quarter revenues of $134.8 million on losses of $31.8 million. Slack’s Q1 revenues represent a 67% increase from the same period last year when the company lost $24.8 million on $80.9 million in revenue.

For the fiscal year ending January 31, 2019, the company reported losses of $138.9 million on revenue of $400.6 million. That’s compared to a loss of $140.1 million on revenue of $220.5 million the year prior.

Slack is in the process of completing the final steps necessary for its direct listing on The New York Stock Exchange, where it will trade under the ticker symbol “WORK.” A direct listing is an alternative approach to the stock … Read the rest

May 29, 2019 Off

How to trigger FOMO among VCs, plus PMs, SoftBank, and cheese

By Jill T Frey

Fundraising 101: How to trigger FOMO among VCs

Our media columnist Eric Peckham talked to a variety of successful founders on how they generate FOMO (i.e. fear of missing out) among VCs during their fundraises. While having a great deck and story is key to startup success, clearly there is also a bit of the dark arts required to go from intro email to term sheet.

We focused on a two-week period and set all the meetings for Thursday and Friday. From 7am into the evening, back-to-back pitches at all the firms in one area then the next area. That’s because partner meetings are on Mondays, so the Thursday and Friday conversations would lead to pitching the whole partnership the following Monday. We had a 24-hour rule: if we didn’t hear back from a fund in 24 hours, we crossed them off the list.

and

According to this CEO, Sequoia

Read the rest
May 21, 2019 Off

The Exit: Getaround’s $300M roadtrip

By Jill T Frey

In August of last year, Getaround scored $300 million from Softbank. Eight months later they handed that same amount to Drivy, a Parisian peer-to-peer car rental service that was Getaround’s ticket to tapping into European markets.

Alven Capital’s Jeremy Uzan

Both companies shared similar visions for the future of car ownership, they were about the same size, both were flirting with expanding beyond their home market, but only one had the power of the Vision Fund behind it.

The Exit is a new series at TechCrunch. It’s an exit interview of sorts with a VC who was in the right place at the right time but made the right call on an investment that paid off. [Have feedback? Shoot me an email at [email protected]

Alven Capital partner Jeremy Uzan first invested in Drivy’s seed round in 2013. Uzan joined Index Ventures co-leading a $2 million round that valued the company … Read the rest

May 16, 2019 Off

Airbnb adds former Apple retail chief Angela Ahrendts to board

By Jill T Frey

Airbnb has made yet another addition to its board of directors as it inches toward an initial public offering, expected in the next year.

Angela Ahrendts, the former senior vice president of retail at Apple, joins as its third independent non-affiliated board member. Ahrendts joined Apple in 2014 after serving as CEO of the British fashion house Burberry for eight years. Apple earlier this year announced Ahrendts would step down in April to be replaced by the company’s HR head, Deirdre O’Brien.

Airbnb in August tapped Ann Mather, the former Disney and Pixar executive, to join its board. Mather represented the first female addition to its all-male board. In January 2018, the home-sharing giant added Ken Chenault, the former chief executive officer of American Express, to its board.

Airbnb’s long-term ambitions include building an end-to-end travel platform, complete with home sharing, hotel booking, business travel arrangements, experiences and more. Ahrendts’ … Read the rest

May 14, 2019 Off

Beyond costs, what else can we do to make housing affordable?

By Jill T Frey

This week on Extra Crunch, I am exploring innovations in inclusive housing, looking at how 200+ companies are creating more access and affordability. Yesterday, I focused on startups trying to lower the costs of housing, from property acquisition to management and operations.

Today, I want to focus on innovations that improve housing inclusion more generally, such as efforts to pair housing with transit, small business creation, and mental rehabilitation. These include social impact-focused interventions, interventions that increase income and mobility, and ecosystem-builders in housing innovation.

Nonprofits and social enterprises lead many … Read the rest

May 13, 2019 Off

Market map: the 200+ innovative startups transforming affordable housing

By Jill T Frey

In this section of my exploration into innovation in inclusive housing, I am digging into the 200+ companies impacting the key phases of developing and managing housing.

Innovations have reduced costs in the most expensive phases of the housing development and management process. I explore innovations in each of these phases, including construction, land, regulatory, financing, and operational costs.

Reducing Construction Costs

This is one of the top three challenges developers face, exacerbated by rising building material costs and labor … Read the rest

May 10, 2019 Off

Meet Bobbie, a baby formula delivery startup promising healthier ingredients

By Jill T Frey

Don’t like the idea of your baby guzzling down liquid candy all day? It may surprise you to find corn syrup is the main ingredient in most infant formulas in the U.S. That’s where Bobbie, a Bay Area-based baby formula delivery startup promising only wholesome ingredients, hopes to fill in.

Just go down the baby food aisle of any supermarket in America and start reading the ingredients and you’ll likely find corn syrup, soy bean oil, glucose syrup, maltodextrin and palm oil at the top. Even “organic” options often add these ingredients.

While it’s high-fructose corn syrup we should be most concerned with when it comes to diabetes (and some doctors might even recommend adding some sort of syrup to your baby’s diet to combat constipation), corn syrup is not something some parents may want their baby drinking all day.

Touting itself as “European” style, Bobbie’s first product features … Read the rest

May 9, 2019 Off

Printify raises $3M to expand its marketplace for custom printing

By Jill T Frey

In Riga, Latvia, an 80-person startup called Printify is reimagining the on-demand printing business.

Gone are the days where small merchants have to sell their customized products on platforms like Zazzle, Society6, CafePress or Teespring . Using Printify, e-commerce business owners can create clothes, accessories and more fixed with their designs, logos, art or photos, then sell them directly on their very own online stores.

The “first wave” of on-demand printing companies, Printify founder and chief executive officer James Berdigans explained to TechCrunch, typically require that merchants sell their items on the provider’s platforms.

“The problem is that these merchants don’t have the capability to build their own brand,” Berdigans said. “At the end of the day, you end up building the Teespring brand, not your own brand.”

Printify, a graduate of the 500 Startups accelerator, has attracted a $3 million investment from Bling Capital, a venture capital fund launchedRead the rest

May 9, 2019 Off

Mint House raises $15M to give business travelers a better hotel

By Jill T Frey

Hotels are convenient but rarely homey. Short-term rentals through Airbnb or HomeAway are often comfy but can be a pain to book and check-in. Business travelers often have to pick the best of two lousy options. Mint House is summed up best by Tige Savage, Revolution Venture managing partner: “Mint House is the best of a hotel without the worst of a hotel and the best of an Airbnb without the worst of an Airbnb.”

The New York-based Mint House is today announcing a $15 million financing round led by Revolution Ventures, with participation from other investors and hotel industry veterans. The influx of capital and industry connections should go a long way in allowing the company to expand its offering that caters to business travelers looking for apartment-style accommodations with the predictability and reliability found in top-tier hotels.

Mint House is entering a crowded market dominated by Airbnb and … Read the rest

May 6, 2019 Off

Thunes raises $10M to make financial services more accessible in emerging markets

By Jill T Frey

Cross-border fintech continues to be an area of interest for venture capitalists. The latest deal sees GGV Capital — the U.S-China firm that’s backed Xiaomi, Airbnb, Square and others — lead a $10 million investment in Singapore-based startup Thunes.

Other investors in the Series A round are not being disclosed at this point.

Thunes — which is slang for money in French and is pronounced ‘tunes’ — is not your typical startup. Its service is a b2b play that provides payment solutions for companies and services that deal with consumers and need new features, increased interoperability and flexibility for users. It makes money on a fee basis per transaction and, in the case of cross border, a small markup on exchange rates using mid-market rates for reference.

The company was founded in February of this year when TransferTo, a company that provided services like mobile top-up cross-border split … Read the rest