May
17
2019
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Under the hood on Zoom’s IPO, with founder and CEO Eric Yuan

Extra Crunch offers members the opportunity to tune into conference calls led and moderated by the TechCrunch writers you read every day. This week, TechCrunch’s Kate Clark sat down with Eric Yuan, the founder and CEO of video communications startup Zoom, to go behind the curtain on the company’s recent IPO process and its path to the public markets.

Since hitting the trading desks just a few weeks ago, Zoom stock is up over 30%. But the Zoom’s path to becoming a Silicon Valley and Wall Street darling was anything but easy. Eric tells Kate how the company’s early focus on profitability, which is now helping drive the stock’s strong performance out of the gate, actually made it difficult to get VC money early on, and the company’s consistent focus on user experience led to organic growth across different customer bases.

Eric: I experienced the year 2000 dot com crash and the 2008 financial crisis, and it almost wiped out the company. I only got seed money from my friends, and also one or two VCs like AME Cloud Ventures and Qualcomm Ventures.

nd all other institutional VCs had no interest to invest in us. I was very paranoid and always thought “wow, we are not going to survive next week because we cannot raise the capital. And on the way, I thought we have to look into our own destiny. We wanted to be cash flow positive. We wanted to be profitable.

nd so by doing that, people thought I wasn’t as wise, because we’d probably be sacrificing growth, right? And a lot of other companies, they did very well and were not profitable because they focused on growth. And in the future they could be very, very profitable.

Eric and Kate also dive deeper into Zoom’s founding and Eric’s initial decision to leave WebEx to work on a better video communication solution. Eric also offers his take on what the future of video conferencing may look like in the next five to 10 years and gives advice to founders looking to build the next great company.

For access to the full transcription and the call audio, and for the opportunity to participate in future conference calls, become a member of Extra Crunch. Learn more and try it for free. 

Kate Clark: Well thanks for joining us Eric.

Eric Yuan: No problem, no problem.

Kate: Super excited to chat about Zoom’s historic IPO. Before we jump into questions, I’m just going to review some of the key events leading up to the IPO, just to give some context to any of the listeners on the call.

May
02
2019
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Microsoft announces the $3,500 HoloLens 2 Development Edition

As part of its rather odd Thursday afternoon pre-Build news dump, Microsoft today announced the HoloLens 2 Development Edition. The company announced the much-improved HoloLens 2 at MWC Barcelona earlier this year, but it’s not shipping to developers yet. Currently, the best release date we have is “later this year.” The Development Edition will launch alongside the regular HoloLens 2.

The Development Edition, which will retail for $3,500 to own outright or on a $99 per month installment plan, doesn’t feature any special hardware. Instead, it comes with $500 in Azure credits and 3-month trials of Unity Pro and the Unity PiXYZ plugin for bringing engineering renderings into Unity.

To get the Development Edition, potential buyers have to join the Microsoft Mixed Reality Developer Program and those who already pre-ordered the standard edition will be able to change their order later this year.

As far as HoloLens news goes, that’s all a bit underwhelming. Anybody can get free Azure credits, after all (though usually only $200) and free trials of Unity Pro are also readily available (though typically limited to 30 days).

Oddly, the regular HoloLens 2 was also supposed to cost $3,500. It’s unclear if the regular edition will now be somewhat cheaper, cost the same but come without the credits, or really why Microsoft isn’t doing this at all. Turning this into a special “Development Edition” feels more like a marketing gimmick than anything else, as well as an attempt to bring some of the futuristic glamour of the HoloLens visor to today’s announcements.

The folks at Unity are clearly excited, though. “Pairing HoloLens 2 with Unity’s real-time 3D development platform enables businesses to accelerate innovation, create immersive experiences, and engage with industrial customers in more interactive ways,” says Tim McDonough, GM of Industrial at Unity, in today’s announcement. “The addition of Unity Pro and PiXYZ Plugin to HoloLens 2 Development Edition gives businesses the immediate ability to create real-time 2D, 3D, VR, and AR interactive experiences while allowing for the importing and preparation of design data to create real-time experiences.”

Microsoft also today noted that Unreal Engine 4 support for HoloLens 2 will become available by the end of May.

May
02
2019
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Microsoft brings Azure SQL Database to the edge (and Arm)

Microsoft today announced an interesting update to its database lineup with the preview of Azure SQL Database Edge, a new tool that brings the same database engine that powers Azure SQL Database in the cloud to edge computing devices, including, for the first time, Arm-based machines.

Azure SQL Edge, Azure corporate vice president Julia White writes in today’s announcement, “brings to the edge the same performant, secure and easy to manage SQL engine that our customers love in Azure SQL Database and SQL Server.”

The new service, which will also run on x64-based devices and edge gateways, promises to bring low-latency analytics to edge devices as it allows users to work with streaming data and time-series data, combined with the built-in machine learning capabilities of Azure SQL Database. Like its larger brethren, Azure SQL Database Edge will also support graph data and comes with the same security and encryption features that can, for example, protect the data at rest and in motion, something that’s especially important for an edge device.

As White rightly notes, this also ensures that developers only have to write an application once and then deploy it to platforms that feature Azure SQL Database, good old SQL Server on premises and this new edge version.

SQL Database Edge can run in both connected and fully disconnected fashion, something that’s also important for many use cases where connectivity isn’t always a given, yet where users need the kind of data analytics capabilities to keep their businesses (or drilling platforms, or cruise ships) running.

May
02
2019
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Takeaways from F8 and Facebook’s next phase

Extra Crunch offers members the opportunity to tune into conference calls led and moderated by the TechCrunch writers you read every day. This week, TechCrunch’s Josh Constine and Frederic Lardinois discuss major announcements that came out of Facebook’s F8 conference and dig into how Facebook is trying to redefine itself for the future.

Though touted as a developer-focused conference, Facebook spent much of F8 discussing privacy upgrades, how the company is improving its social impact, and a series of new initiatives on the consumer and enterprise side. Josh and Frederic discuss which announcements seem to make the most strategic sense, and which may create attractive (or unattractive) opportunities for new startups and investment.

“This F8 was aspirational for Facebook. Instead of being about what Facebook is, and accelerating the growth of it, this F8 was about Facebook, and what Facebook wants to be in the future.

That’s not the newsfeed, that’s not pages, that’s not profiles. That’s marketplace, that’s Watch, that’s Groups. With that change, Facebook is finally going to start to decouple itself from the products that have dragged down its brand over the last few years through a series of nonstop scandals.”

(Photo by Justin Sullivan/Getty Images)

Josh and Frederic dive deeper into Facebook’s plans around its redesign, Messenger, Dating, Marketplace, WhatsApp, VR, smart home hardware and more. The two also dig into the biggest news, or lack thereof, on the developer side, including Facebook’s Ax and BoTorch initiatives.

For access to the full transcription and the call audio, and for the opportunity to participate in future conference calls, become a member of Extra Crunch. Learn more and try it for free. 

Apr
02
2019
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Edgybees’s new developer platform brings situational awareness to live video feeds

San Diego-based Edgybees today announced the launch of Argus, its API-based developer platform that makes it easy to add augmented reality features to live video feeds.

The service has long used this capability to run its own drone platform for first responders and enterprise customers, which allows its users to tag and track objects and people in emergency situations, for example, to create better situational awareness for first responders.

I first saw a demo of the service a year ago, when the team walked a group of journalists through a simulated emergency, with live drone footage and an overlay of a street map and the location of ambulances and other emergency personnel. It’s clear how these features could be used in other situations as well, given that few companies have the expertise to combine the video footage, GPS data and other information, including geographic information systems, for their own custom projects.

Indeed, that’s what inspired the team to open up its platform. As the Edgybees team told me during an interview at the Ourcrowd Summit last month, it’s impossible for the company to build a new solution for every vertical that could make use of it. So instead of even trying (though it’ll keep refining its existing products), it’s now opening up its platform.

“The potential for augmented reality beyond the entertainment sector is endless, especially as video becomes an essential medium for organizations relying on drone footage or CCTV,” said Adam Kaplan, CEO and co-founder of Edgybees. “As forward-thinking industries look to make sense of all the data at their fingertips, we’re giving developers a way to tailor our offering and set them up for success.”

In the run-up to today’s launch, the company has already worked with organizations like the PGA to use its software to enhance the live coverage of its golf tournaments.

Mar
24
2019
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Alibaba acquires Israeli startup Infinity Augmented Reality

Infinity Augmented Reality, an Israeli startup, has been acquired by Alibaba, the companies announced this weekend. The deal’s terms were not disclosed. Alibaba and InfinityAR have had a strategic partnership since 2016, when Alibaba Group led InfinityAR’s Series C. Since then, the two have collaborated on augmented reality, computer vision and artificial intelligence projects.

Founded in 2013, the startup’s augmented glasses platform enables developers in a wide range of industries (retail, gaming, medical, etc.) to integrate AR into their apps. InfinityAR’s products include software for ODMs and OEMs and a SDK plug-in for 3D engines.

Alibaba’s foray into virtual reality started three years ago, when it invested in Magic Leap and then announced a new research lab in China to develop ways of incorporating virtual reality into its e-commerce platform.

InfinityAR’s research and development team will begin working out of Alibaba’s Israel Machine Laboratory, part of Alibaba DAMO Academy, the R&D initiative into which it is pouring $15 billion with the goal of eventually serving two billion customers and creating 100 million jobs by 2036. DAMO Academy collaborates with universities around the world, and Alibaba’s Israel Machine Laboratory has a partnership with Tel Aviv University focused on video analysis and machine learning.

In a press statement, the laboratory’s head, Lihi Zelnik-Manor, said “Alibaba is delighted to be working with InfinityAR as one team after three years of partnership. The talented team brings unique knowhow in sensor fusion, computer vision and navigation technologies. We look forward to exploring these leading technologies and offering additional benefits to customers, partners and developers.”

Mar
05
2019
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Matterport raises $48M to ramp up its 3D imaging platform

The growth of augmented and virtual reality applications and hardware is ushering in a new age of digital media and imaging technologies, and startups that are putting themselves at the center of that are attracting interest.

TechCrunch has learned and confirmed that Matterport — which started out making cameras but has since diversified into a wider platform to capture, create, search and utilise 3D imagery of interior and enclosed spaces in immersive real estate, design, insurance and other B2C and B2B applications — has raised $48 million. Sources tell us the money came at a pre-money valuation of around $325 million, although the company is not commenting on that.

From what we understand, the funding is coming ahead of a larger growth round from existing and new investors, to tap into what they see as a big opportunity for building and providing (as a service) highly accurate 3D images of enclosed spaces.

The company in December appointed a new CEO, RJ Pittman — who had been the chief product officer at eBay, and before that held executive roles at Apple and Google — to help fill out that bigger strategy.

Matterport had raised just under $63 million prior to this and had been valued at around $207 million, according to PitchBook estimates.This current round is coming from existing backers, which include Lux Capital, DCM, Qualcomm Ventures and more.

Matterport’s roots are in high-end cameras built to capture multiple images to create 3D interior imagery for a variety of applications, from interior design and real estate to gaming. Changing tides in the worlds of industry and hardware have somewhat shifted its course.

On the hardware side, we’ve seen a rise in the functionality of smartphone cameras, as well as a proliferation of specialised 3D cameras at lower price points. So while Matterport still sells its own high-end cameras, it is also starting to work with less expensive devices with spherical lenses — such as the Ricoh Theta, which is nearly 10 times less expensive than Matterport’s Pro2 camera — and smartphones.

Using an AI engine — which it has been building for some time — packaged into a service it calls Matterport Cloud 3.0, it converts 2D panoramic and 360-degree images into 3D images. (Matterport Cloud 3.0 is currently in beta and will be launching fully on the 18th of March, initially supporting the Ricoh Theta V, the Theta Z1, the Insta360 ONE X and the Leica Geosystems BLK360 laser scanner.)

Matterport is further using this technology to grow its wider database of images. It already has racked up 1.6 million 3D images and millions of 2D images, and at its current growth rate, the aim is to expand its library to 100 million in the coming years, positioning it as a Getty for 3D enclosed images.

These, in turn, will be used in two ways: to feed Matterport’s machine learning to train it to create better and faster 3D images; and to become part of a wider library, accessible to other businesses by way of a set of APIs.

And, from what I understand, the object will not just be to use images as they are: people would be able to manipulate the images to, for example, remove all the furniture in a room and re-stage it completely without needing to physically do that work ahead of listing a house for sale. Another is adding immersive interior shots into mapping applications like Google’s Street View.

“We are a data company,” Pittman told me when I met him for coffee last month.

The ability to convert 2D into 3D images using artificial intelligence to help automate the process is a potentially big area that Matterport, and its investors, believe will be in increasing demand. That’s not just because people still think there will one day be a bigger market for virtual reality headsets, which will need more interesting content, but because we as consumers already have come to expect more realistic and immersive experiences today, even when viewing things on regular screens — and because B2B and enterprise services (for example design or insurance applications) have also grown in sophistication and now require these kinds of images.

(That demand is driving the creation of other kinds of 3D imaging startups, too. Threedy.ai launched last week with a seed round from a number of angels and VCs to perform a similar kind of 2D-to-3D mapping technique for objects rather than interior spaces. It is already working with a number of e-commerce sites to bypass some of the costs and inefficiencies of more established, manual methods of 3D rendering.)

While Matterport is doubling down on its cloud services strategy, it also has been making some hires to take the business to its next steps. In addition to Pittman, they have added Dave Lippman, formerly design head at eBay, as its chief design officer; and engineering veteran Lou Marzano as its VP of hardware, R&D and manufacturing, with more hires to come.

Feb
24
2019
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Say hello to Microsoft’s new $3,500 HoloLens with twice the field of view

Microsoft unveiled the latest version of its HoloLens ‘mixed reality’ headset at MWC Barcelona today. The new HoloLens 2 features a significantly larger field of view, higher resolution and a device that’s more comfortable to wear. Indeed, Microsoft says the device is three times as comfortable to wear (though it’s unclear how Microsoft measured this).

Later this year, HoloLens 2 will be available in the United States, Japan, China, Germany, Canada, United Kingdom, Ireland, France, Australia and New Zealand for $3,500.

One of the knocks against the original HoloLens was its limited field of view. When whatever you wanted to look at was small and straight ahead of you, the effect was striking. But when you moved your head a little bit or looked at a larger object, it suddenly felt like you were looking through a stamp-sized screen. HoloLens 2 features a field of view that’s twice as large as the original.

“Kinect was the first intelligent device to enter our homes,” HoloLens chief Alex Kipman said in today’s keynote, looking back the the device’s history. “It drove us to create Microsoft HoloLens. […] Over the last few years, individual developers, large enterprises, brand new startup have been dreaming up beautiful things, helpful things.”

The HoloLens was always just as much about the software as the hardware, though. For HoloLens, Microsoft developed a special version of Windows, together with a new way of interacting with the AR objects through gestures like air tap and bloom. In this new version, the interaction is far more natural and lets you tap objects. The device also tracks your gaze more accurately to allow the software to adjust to where you are looking.

“HoloLens 2 adapts to you,” Kipman stressed. “HoloLens 2 evolves the interaction model by significantly advancing how people engage with holograms.”

In its demos, the company clearly emphasized how much faster and fluid the interaction with HoloLens applications becomes when you can use slides, for example, by simply grabbing the slider and moving it, or by tapping on a button with either a finger or two or with your full hand. Microsoft event built a virtual piano that you can play with ten fingers to show off how well the HoloLens can track movement. The company calls this ‘instinctual interaction.’

Microsoft first unveiled the HoloLens concept at a surprise event on its Redmond campus back in 2015. After a limited, invite-only release that started days after the end of MWC 2016, the device went on sale to everybody in August  2016. Four years is a long time between hardware releases, but the company clearly wanted to seed the market and give developer a chance to build the first set of HoloLens applications on a stable platform.

To support developers, Microsoft is also launching a number of Azure services for HoloLens today. These include spatial anchors and remote rendering to help developers stream high-polygon content to HoloLens.

It’s worth noting that Microsoft never positioned the device as consumer hardware. I may have shown off the occasional game, but its focus was always on business applications, with a bit of educational applications thrown in, too. That trend continued today. Microsoft showed off the ability to have multiple people collaborate around a single hologram, for example. That’s not new, of course, but goes to show how Microsoft is positioning this technology.

For these enterprises, Microsoft will also offer the ability to customize the device.

“When you change the way you see the world, you change the world you see,” Microsoft CEO Satya Nadella said, repeating a line from the company’s first HoloLens announcement four years ago. He noted that he believes that connecting the physical world with the virtual world will transform the way we will work.

Feb
21
2019
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Microsoft bringing Dynamics 365 mixed reality solutions to smartphones

Last year Microsoft introduced several mixed reality business solutions under the Dynamics 365 enterprise product umbrella. Today, the company announced it would be moving these to smartphones in the spring, starting with previews.

The company announced Remote Assist on HoloLens last year. This tool allows a technician working onsite to show a remote expert what they are seeing. The expert can then walk the less-experienced employee through the repair. This is great for those companies that have equipped their workforce with HoloLens for hands-free instruction, but not every company can afford the new equipment.

Starting in the spring, Microsoft is going to help with that by introducing Remote Assist for Android phones. Just about everyone has a phone with them, and those with Android devices will be able to take advantage of Remote Assist capabilities without investing in HoloLens. The company is also updating Remote Assist to include mobile annotations, group calling and deeper integration with Dynamics 365 for Field Service, along with improved accessibility features on the HoloLens app.

IPhone users shouldn’t feel left out though because the company announced a preview of Dynamics 365 Product Visualize for iPhone. This tool enables users to work with a customer to visualize what a customized product will look like as they work with them. Think about a furniture seller working with a customer in their homes to customize the color, fabrics and design in place in the room where they will place the furniture, or a car dealer offering different options such as color and wheel styles. Once a customer agrees to a configuration, the data gets saved to Dynamics 365 and shared in Microsoft Teams for greater collaboration across a group of employees working with a customer on a project.

Both of these features are part of the Dynamics 365 spring release and are going to be available in preview starting in April. They are part of a broader release that includes a variety of new artificial intelligence features such as customer service bots and a unified view of customer data across the Dynamics 365 family of products.

Jan
07
2019
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Daily Crunch: Nvidia breaks with tradition at CES 2019

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. Nvidia launches the $349 GeForce RTX 2060

Nvidia broke with tradition and put a new focus on gaming at CES. Last night the company unveiled the RTX 2060, a $349 low-end version of its new Turing-based desktop graphics cards. The RTX 2060 will be available on Jan. 15.

2. Elon Musk’s vision of spaceflight is gorgeous 

This spring SapceX intends to launch the next phase in its space exploration plans. The newly named Starship rocket, previously known as the BFR, intends to to be rocket to rule them all. And it’s going to look good doing it.

3. Apple’s increasingly tricky international trade-offs

Far from its troubles in emerging markets like China, Apple is starting to face backlash from a European population that’s crying foul over the company’s perceived hypocrisy on data privacy. It’s become clear that Apple’s biggest success is now its biggest challenge in Europe.

Photo by Justin Sullivan/Getty Images

4. Marc Andreessen: audio will be “titanically important” and VR will be “1,000” times bigger than AR

In a recently recorded podcast Marc Andreesen gave some predictions on the future of the tech industry. Surprisingly, the all-start investor is continuing his support of the shaky VR industry saying that expanding the immersive world will require us to remove the head-mounted displays we’ve become accustomed to.

5. Fitness marketplace ClassPass acquires competitor GuavaPass

ClassPass, the five-year-old fitness marketplace, is in the midst of an expansion sprint. The company announced yesterday that it’s acquiring one it competitors, GuavaPass, for an undisclosed amount to expand into Asia. The move now puts ClassPass in more than 80 markets across the 11 countries, with plans to expand to 50 new cities in 2019.

6. Apple shows off new smart home products from HomeKit partners

Apple gave a snapshot of its future smart home ecosystem at CES. Looks like an array of smart light switches, door cameras, electrical outlets and more are on the way and will be configurable through the Home app and Siri.

7. Parcel Guard’s smart mailbox protects your packages from porch thieves

Danby is showing off its newly launched smart mailbox called Parcel Guard at CES, which allows deliveries to be left securely at customers’ doorsteps. Turns out you won’t need a farting glitter bomb to protect your packages after all. The Parcel Guard starts at $399 and pre-orders are will be available this week.

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