Aug
07
2018
--

Slack is raising $400M+ with a post-money valuation of $7B or more

Slack — the app that lets coworkers and others in professional circles chat with each other and call in data from hundreds of integrated apps in the name of getting more work done (or at least procrastinating in an entertaining way) — has been on a growth tear in the last few years, most recently passing 8 million daily active users, 3 million of them paying. Now, the company is planning to capitalise on that with some more funding.

TechCrunch has learned that Slack is raising another round, this time in the region of $400 million or possibly more, with a post-money valuation of at least $7 billion — adding a whopping $2 billion on top of the company’s last valuation in September 2017, when SoftBank led a $250 million round at a $5.1 billion valuation.

We’ve heard from multiple sources that a new investor, General Atlantic, is leading this round, with possibly another new backer, Dragoneer, also in the mix. It’s not clear which other investors might be involved; the company counts no less than 41 other backers on its cap table already, according to PitchBook. (You might even say Several People Are Funding…) We also don’t know whether this round has closed.

At $400 million, this would make it Slack’s biggest round to date. That size underscores a few different things.

First, it points to the existing opportunity in enterprise messaging. Consumerisation has taken hold, and apps that let users easily start and carry on a mix of serious and diverting conversations, infused with GIFs or whatever data they might need from other applications, are vying to replace other ways that people communicate in the workplace, such as email, phone conferences and in-person chats, even when people are in the same vicinity as each other. With consumer messaging apps like WhatsApp topping 1.5 billion users, there’s plenty of room for enterprise messaging to grow.

Second, the round and valuation emphasize Slack’s position as a leader in this area. While there were other enterprise social networking apps in existence before Slack first launched in 2013 — Yammer, Hipchat and Socialcast among them — nothing had struck a chord quite as Slack did. “Things have been going crazy”, was how co-founder and CEO Stewart Butterfield described it to me when Slack exited beta: teams trialling it were seeing usage from “every single team member, every day.”

That growth pace has continued. Today, the company counts 70,000 paid teams including Capital One, eBay, IBM, 21st Century Fox, and 65 percent of Fortune 100 companies among its bigger users; and with customers in 100 countries, half of its DAUs are outside North America (UK, Japan, Germany, France and India are its biggest international markets).

But thirdly — and this could be key when considering how this funding will be used — Slack is not the only game in town.

Software giant Microsoft has launched Teams, and social networking behemoth Facebook has Workplace. Using their respective dominance in enterprise software and social mechanics, these two have stolen a march on picking up some key customer wins among businesses that have opted for products that are more natural fits with what their employees were already using. Microsoft reported 200,000 paying organizations earlier this year, and Facebook has snagged some very large customers like Walmart.

Slack’s bottom-up distribution strategy could give it an edge against these larger companies and their broader but more complex products. The lightweight nature of Slack’s messaging-first approach allows it more easily be inserted into a company’s office stack. Nearly every type of employee needs office messaging, creating the potential for Slack to serve as an identity layer for enterprise software, not to mention the platform where not only people, but the information that exists in separate apps, converges. Its own Slack Fund invests in potential companies that plug in, as the company hopes to build an ecosystem of partners that can fill in missing functionality.

AUSTIN, TX – MARCH 15: Stewart Butterfield, CEO of Slack speaks onstage at ‘Stewart Butterfield in Conversation with Farhad Manjoo’ during the 2016 SXSW Music, Film + Interactive Festival at Austin Convention Center on March 15, 2016 in Austin, Texas. (Photo by Mindy Best/Getty Images for SXSW)

Alongside dozens of other, smaller rivals offering comparative mixes of tools, it’s no surprise that last month Slack tightened up its bootlaces to take on the role of consolidator, snapping up IP and shutting down Hipchat and Stride from Atlassian, with the latter taking a stake in Slack as part of the deal.

Slack, which has a relatively modest 1,000+ employees, has ruled out an IPO this year, so this latest round will help it shore up cash in the meantime to continue growing, and competing.

Contacted for this story, Slack said that it does not comment on rumors or speculation.

Aug
07
2018
--

Slack is raising $400M+ with a post-money valuation of $7B or more

Slack — the app that lets coworkers and others in professional circles chat with each other and call in data from hundreds of integrated apps in the name of getting more work done (or at least procrastinating in an entertaining way) — has been on a growth tear in the last few years, most recently passing 8 million daily active users, 3 million of them paying. Now, the company is planning to capitalise on that with some more funding.

TechCrunch has learned that Slack is raising another round, this time in the region of $400 million or possibly more, with a post-money valuation of at least $7 billion — adding a whopping $2 billion on top of the company’s last valuation in September 2017, when SoftBank led a $250 million round at a $5.1 billion valuation.

We’ve heard from multiple sources that a new investor, General Atlantic, is leading this round, with possibly another new backer, Dragoneer, also in the mix. It’s not clear which other investors might be involved; the company counts no less than 41 other backers on its cap table already, according to PitchBook. (You might even say Several People Are Funding…) We also don’t know whether this round has closed.

At $400 million, this would make it Slack’s biggest round to date. That size underscores a few different things.

First, it points to the existing opportunity in enterprise messaging. Consumerisation has taken hold, and apps that let users easily start and carry on a mix of serious and diverting conversations, infused with GIFs or whatever data they might need from other applications, are vying to replace other ways that people communicate in the workplace, such as email, phone conferences and in-person chats, even when people are in the same vicinity as each other. With consumer messaging apps like WhatsApp topping 1.5 billion users, there’s plenty of room for enterprise messaging to grow.

Second, the round and valuation emphasize Slack’s position as a leader in this area. While there were other enterprise social networking apps in existence before Slack first launched in 2013 — Yammer, Hipchat and Socialcast among them — nothing had struck a chord quite as Slack did. “Things have been going crazy”, was how co-founder and CEO Stewart Butterfield described it to me when Slack exited beta: teams trialling it were seeing usage from “every single team member, every day.”

That growth pace has continued. Today, the company counts 70,000 paid teams including Capital One, eBay, IBM, 21st Century Fox, and 65 percent of Fortune 100 companies among its bigger users; and with customers in 100 countries, half of its DAUs are outside North America (UK, Japan, Germany, France and India are its biggest international markets).

But thirdly — and this could be key when considering how this funding will be used — Slack is not the only game in town.

Software giant Microsoft has launched Teams, and social networking behemoth Facebook has Workplace. Using their respective dominance in enterprise software and social mechanics, these two have stolen a march on picking up some key customer wins among businesses that have opted for products that are more natural fits with what their employees were already using. Microsoft reported 200,000 paying organizations earlier this year, and Facebook has snagged some very large customers like Walmart.

Slack’s bottom-up distribution strategy could give it an edge against these larger companies and their broader but more complex products. The lightweight nature of Slack’s messaging-first approach allows it more easily be inserted into a company’s office stack. Nearly every type of employee needs office messaging, creating the potential for Slack to serve as an identity layer for enterprise software, not to mention the platform where not only people, but the information that exists in separate apps, converges. Its own Slack Fund invests in potential companies that plug in, as the company hopes to build an ecosystem of partners that can fill in missing functionality.

AUSTIN, TX – MARCH 15: Stewart Butterfield, CEO of Slack speaks onstage at ‘Stewart Butterfield in Conversation with Farhad Manjoo’ during the 2016 SXSW Music, Film + Interactive Festival at Austin Convention Center on March 15, 2016 in Austin, Texas. (Photo by Mindy Best/Getty Images for SXSW)

Alongside dozens of other, smaller rivals offering comparative mixes of tools, it’s no surprise that last month Slack tightened up its bootlaces to take on the role of consolidator, snapping up IP and shutting down Hipchat and Stride from Atlassian, with the latter taking a stake in Slack as part of the deal.

Slack, which has a relatively modest 1,000+ employees, has ruled out an IPO this year, so this latest round will help it shore up cash in the meantime to continue growing, and competing.

Contacted for this story, Slack said that it does not comment on rumors or speculation.

Aug
01
2018
--

WhatsApp finally earns money by charging businesses for slow replies

Today WhatsApp launches its first revenue-generating enterprise product and the only way it currently makes money directly from its app. The WhatsApp Business API is launching to let businesses respond to messages from users for free for up to 24 hours, but will charge them a fixed rate by country per message sent after that.

Businesses will still only be able to message people who contacted them first, but the API will help them programatically send shipping confirmations, appointment reminders or event tickets. Clients also can use it to manually respond to customer service inquiries through their own tool or apps like Zendesk, MessageBird or Twilio. And small businesses that are one of the 3 million users of the WhatsApp For Business app can still use it to send late replies one-by-one for free.

After getting acquired by Facebook for $19 billion in 2014, it’s finally time for the 1.5 billion-user WhatsApp to pull its weight and contribute some revenue. If Facebook can pitch the WhatsApp Business API as a cheaper alternative to customer service call centers, the convenience of asynchronous chat could compel users to message companies instead of phoning.

Only charging for slow replies after 24 hours since a user’s last message is a genius way to create a growth feedback loop. If users get quick answers via WhatsApp, they’ll prefer it to other channels. Once businesses and their customers get addicted to it, WhatsApp could eventually charge for all replies or any that exceed a volume threshold, or cut down the free window. Meanwhile, businesses might be too optimistic about their response times and end up paying more often than they expect, especially when messages come in on weekends or holidays.

WhatsApp first announced it would eventually charge for enterprise service last September when it launched its free WhatsApp For Business app that now has 3 million users and remains free for all replies, even late ones.

Importantly, WhatsApp stresses that all messaging between users and businesses, even through the API, will be end-to-end encrypted. That contrasts with The Washington Post’s report that Facebook pushing to weaken encryption for WhatsApp For Business messages is partly what drove former CEO Jan Koum to quit WhatsApp and Facebook’s board in April. His co-founder, Brian Acton, had ditched Facebook back in September and donated $50 million to the foundation of encrypted messaging app Signal.

Today WhatsApp is also formally launching its new display ads product worldwide. But don’t worry, they won’t be crammed into your chat inbox like with Facebook Messenger. Instead, businesses will be able to buy ads on Facebook’s News Feed that launch WhatsApp conversations with them… thereby allowing them to use the new Business API to reply. TechCrunch scooped that this was coming last September, when code in Facebook’s ad manager revealed the click-to-WhatsApp ads option and the company confirmed the ads were in testing. Facebook launched similar click-to-Messenger ads back in 2015.

Finally, WhatsApp also tells TechCrunch it’s planning to run ads in its 450 million daily user Snapchat Stories clone called Status. “WhatsApp does not currently run ads in Status though this represents a future goal for us, starting in 2019. We will move slowly and carefully and provide more details before we place any Ads in Status,” a spokesperson told us. Given WhatsApp Status is more than twice the size of Snapchat, it could earn a ton on ads between Stories, especially if it’s willing to make some unskippable.

Together, the ads and API will replace the $1 per year subscription fee WhatsApp used to charge in some countries but dropped in 2016. With Facebook’s own revenue decelerating, triggering a 20 percent, $120 billion market cap drop in its share price, it needs to show it has new ways to make money — now more than ever.

May
31
2018
--

More speakers, panels at The Europas, and how to get your ticket free

The Europas Unconference & Awards is back on 3 July in London and we’re excited to announce more speakers and panel sessions as the event takes shape. Crypto and Blockchain will be a major theme this year, and we’re bringing together many of the key players. TechCrunch is once again the key media partner, and if you attend The Europas you’ll be first in the queue to get offers for TC events and Disrupt in Europe later in the year.

You can also potentially get your ticket for free just by sharing your own ticket link with friends and followers. See below for the details and instructions.

To recap, we’re jumping straight into our popular breakout sessions where you’ll get up close and personal with some of Europe’s leading investors, founders and thought leaders.

The Unconference is focused into zones including AI, Fintech, Mobility, Startups, Society, and Enterprise and Crypto / Blockchain.

Our Crypto HQ will feature two tracks of panels, one focused on investing and the other on how blockchain is disrupting everything from financial services, to gaming, to social impact to art.

We’ve lined up some of the leading blockchain VCs to talk about what trends and projects excite them most, including Outlier Ventures’ Jamie Burke, KR1’s George McDonaugh, blockchain angel Nancy Fenchay, Fabric Ventures’ Richard Muirhead and Michael Jackson of Mangrove Capital Partners.

Thinking of an ICO vs crowdfunding? Join Michael Jackson on how ICOs are disrupting venture capital and Ali Ganjavian, co-founder of Studio Banana, the creators of longtime Kickstarter darling OstrichPillow to understand the ins and outs of both.

We’ve also lined up a panel to discuss the process of an ICO – what do you need to consider, the highs, the lows, the timing and the importance of community. Linda Wang, founder and CEO of Lending Block, which recently raised $10 million in an April ICO, joins us.

We are thrilled to announce that Civil, the decentralised marketplace for sustainable journalism, will be joining to talk about the rise of fake news and Verisart’s Robert Norton will share his views on stamping out fraud in the art world with blockchain. Min Teo of ConsenSys will discuss blockchain and social impact and Jeremy Millar, head of Consensys UK, will speak on Smart Contracts.

Our Pathfounders Startup Zone is focused purely on startups. Our popular Meet the Press panel is back where some of tech’s finest reporters will tell you what makes a great tech story, and how to pitch (and NOT pitch them). For a start, TechCrunch’s Steve O’Hear and Quartz’s Joon Ian Wong are joining.

You’ll also hear from angels and investors including Seedcamp’s Carlos Eduardo Espinal; Eileen Burbidge of Passion Capital; Accel Partners’ Andrei Brasoveanu; Jeremy Yap; Candice Lo of Blossom Capital; Scott Sage of Crane Venture Partners; Tugce Ergul of Angel Labs; Stéphanie Hospital of OneRagtime; Connect Ventures’ Sitar Teli and Jason Ball of Qualcomm Ventures.

Sound great? You can grab your ticket here.

All you need to do is share your personal ticket link. Your friends get 15% off, and you get 15% off again when they buy.

The more your friends buy, the more your ticket cost goes down, all the way to free!

The Public Voting in the awards ends 11 June 2018 11:59: https://theeuropas.polldaddy.com/s/theeuropas2018

We’re still looking for sponsor partners to support these editorially curated panels.

Please get in touch with Petra@theeuropas.com for more details.

SPEAKERS SO FAR:

Jamie Burke, Outlier Ventures


Jeremy Millar, ConsenSys


Linda Wang, Lending Block


Robert Norton, Verisart


George McDonaugh, KR1


Eileen Burbidge, Passion Capital


Carlos Eduardo Espinal, Seedcamp


Sitar Teli, Connect Ventures


Michael Jackson, Mangrove Capital Partners


Min Teo, ConsenSys


Steve O’Hear, TechCrunch


Joon Ian Wong, Quartz


Richard Muirhead, Fabric Ventures


Nancy Fechnay, Blockchain Technologist + Angel


Candice Lo, Blossom Capital


Scott Sage, Crane Venture Partners


Andrei Brasoveanu, Accel


Tina Baker, Jag Shaw Baker


Jeremy Yap


Candice Lo, Blossom Capital


Tugce Ergul, Angel Labs


Stéphanie Hospital, OneRagtime


Jason Ball, Qualcomm Ventures

The Europas Awards
The Europas Awards are based on voting by expert judges and the industry itself. But key to the daytime is all the speakers and invited guests. There’s no “off-limits speaker room” at The Europas, so attendees can mingle easily with VIPs and speakers.

Vote for your Favourite Startups

Public Voting is still humming along. Please remember to vote for your favourite startups!

Awards by category:

Hottest Media/Entertainment Startup

Hottest E-commerce/Retail Startup

Hottest Education Startup

Hottest Startup Accelerator

Hottest Marketing/AdTech Startup

Hottest Games Startup

Hottest Mobile Startup

Hottest FinTech Startup

Hottest Enterprise, SaaS or B2B Startup

Hottest Hardware Startup

Hottest Platform Economy / Marketplace

Hottest Health Startup

Hottest Cyber Security Startup

Hottest Travel Startup

Hottest Internet of Things Startup

Hottest Technology Innovation

Hottest FashionTech Startup

Hottest Tech For Good

Hottest A.I. Startup

Fastest Rising Startup Of The Year

Hottest GreenTech Startup of The Year

Hottest Startup Founders

Hottest CEO of the Year

Best Angel/Seed Investor of the Year

Hottest VC Investor of the Year

Hottest Blockchain/Crypto Startup Founder(s)

Hottest Blockchain Protocol Project

Hottest Blockchain DApp

Hottest Corporate Blockchain Project

Hottest Blockchain Investor

Hottest Blockchain ICO (Europe)

Hottest Financial Crypto Project

Hottest Blockchain for Good Project

Hottest Blockchain Identity Project

Hall Of Fame Award – Awarded to a long-term player in Europe

The Europas Grand Prix Award (to be decided from winners)

The Awards celebrates the most forward thinking and innovative tech & blockchain startups across over some 30+ categories.

Startups can apply for an award or be nominated by anyone, including our judges. It is free to enter or be nominated.

Instead of thousands and thousands of people, think of a great summer event with 1,000 of the most interesting and useful people in the industry, including key investors and leading entrepreneurs.

• No secret VIP rooms, which means you get to interact with the Speakers

• Key Founders and investors speaking; featured attendees invited to just network

• Expert speeches, discussions, and Q&A directly from the main stage

• Intimate “breakout” sessions with key players on vertical topics

• The opportunity to meet almost everyone in those small groups, super-charging your networking

• Journalists from major tech titles, newspapers and business broadcasters

• A parallel Founders-only track geared towards fund-raising and hyper-networking

• A stunning awards dinner and party which honors both the hottest startups and the leading lights in the European startup scene

• All on one day to maximise your time in London. And it’s sunny (probably)!

europas8

That’s just the beginning. There’s more to come…

europas13

May
30
2018
--

Here’s Mary Meeker’s essential 2018 Internet Trends report

Want to understand all the most important tech stats and trends? Legendary venture capitalist Mary Meeker has just released the 2018 version of her famous Internet Trends report. It covers everything from mobile to commerce to the competition between tech giants. Check out the full report below, and we’ll add some highlights soon. Then come back for our slide-by-slide analysis of the most important parts of the 294 page report.

  • Internet adoption: As of 2018, half the world population, or about 3.6 billion people, will be on the internet. That’s thanks in large part to cheaper Android phones and Wifi becoming more available, though individual services will have a tougher time adding new users as the web hits saturation.
  • Mobile usage: While smartphone shipments are flat and internet user growth is slowing, U.S. adults are spending more time online thanks to mobile, clocking 5.9 hours per day in 2017 versus 5.6 hours in 2016.
  • Mobile ads: People are shifting their time to mobile faster than ad dollars are following, creating a $7 billion mobile ad opportunity, though platforms are increasingly responsible for providing safe content to host those ads.
  • Crypto: Interest in cryptocurrency is exploding as Coinbase’s user count has nearly quadrupled since January 2017
  • Voice: Voice technology is at an inflection point due to speech recognition hitting 95% accuracy and the sales explosion for Amazon Echo which went from over 10 million to over 30 million sold in total by the end of 2017.
  • Daily usage – Revenue gains for services like Facebook are tightly coupled with daily user growth, showing how profitable it is to become a regular habit.
  • Tech investment: We’re at an all-time high for public and private investment in technology, while the top six public R&D + capex spenders are all technology companies.

Mary Meeker, analyst with Morgan Stanley, speaks during the Web 2.0 Summit in San Francisco, California, U.S., on Tuesday, Nov. 16, 2010. This year’s conference, which runs through Nov. 17, is titled “Points of Control: The Battle for the Network Economy.” Photographer: Tony Avelar/Bloomberg via Getty Images

  • Ecommerce vs Brick & Mortar: Ecommerce growth quickens as now 13% of all retail purchases happen online and parcel shipments are rising swiftly, signaling big opportunities for new shopping apps.
  • Amazon: More people start product searches on Amazon than search engines now, but Jeff Bezos still relies on other surfaces like Facebook and YouTube to inspire people to want things.
  • Subscription services: They’re seeing massive adoption, with Netflix up 25%, The New York Times up 43%, and Spotify up 48% year-over-year in 2017. A free tier accelerates conversion rates.
  • Education: Employees seek retraining and education from YouTube and online courses to keep up with new job requirements and pay off skyrocketing student loan debt.
  • Freelancing: Employees crave scheduling and work-from-home flexibility, and internet discovery of freelance work led it to grow 3X faster than total workforce growth. The on-demand workforce grew 23% in 2017 driven by Uber, Airbnb, Etsy, Upwork, and Doordash.
  • Transportation: People are buying fewer cars, keeping them longer, and shifting transportation spend to rideshare, which saw rides double in 2017.
  • Enterprise: Consumerization of the enterprise through better interfaces is spurring growth for companies like Dropbox and Slack.
  • China: Alibaba is expanding beyond China with strong gross merchandise volume, though Amazon still rules in revenue.
  • Privacy: China has a big opportunity as users there are much more willing to trade their personal data for product benefits than U.S. users, and China is claiming more spots on the top 20 internet company list while making big investments in AI.
  • Immigration: It is critical to a strong economy, as 56% of top U.S. companies were founded by a first- or second-generation immigrant.

May
23
2018
--

Meet the speakers at The Europas, and get your ticket free (July 3, London)

Excited to announce that this year’s The Europas Unconference & Awards is shaping up! Our half day Unconference kicks off on 3 July, 2018 at The Brewery in the heart of London’s “Tech City” area, followed by our startup awards dinner and fantastic party and celebration of European startups!

The event is run in partnership with TechCrunch, the official media partner. Attendees, nominees and winners will get deep discounts to TechCrunch Disrupt in Berlin, later this year.
The Europas Awards are based on voting by expert judges and the industry itself. But key to the daytime is all the speakers and invited guests. There’s no “off-limits speaker room” at The Europas, so attendees can mingle easily with VIPs and speakers.

What exactly is an Unconference? We’re dispensing with the lectures and going straight to the deep-dives, where you’ll get a front row seat with Europe’s leading investors, founders and thought leaders to discuss and debate the most urgent issues, challenges and opportunities. Up close and personal! And, crucially, a few feet away from handing over a business card. The Unconference is focused into zones including AI, Fintech, Mobility, Startups, Society, and Enterprise and Crypto / Blockchain.

We’ve confirmed 10 new speakers including:


Eileen Burbidge, Passion Capital


Carlos Eduardo Espinal, Seedcamp


Richard Muirhead, Fabric Ventures


Sitar Teli, Connect Ventures


Nancy Fechnay, Blockchain Technologist + Angel


George McDonaugh, KR1


Candice Lo, Blossom Capital


Scott Sage, Crane Venture Partners


Andrei Brasoveanu, Accel


Tina Baker, Jag Shaw Baker

How To Get Your Ticket For FREE

We’d love for you to ask your friends to join us at The Europas – and we’ve got a special way to thank you for sharing.

Your friend will enjoy a 15% discount off the price of their ticket with your code, and you’ll get 15% off the price of YOUR ticket.

That’s right, we will refund you 15% off the cost of your ticket automatically when your friend purchases a Europas ticket.

So you can grab tickets here.

Vote for your Favourite Startups

Public Voting is still humming along. Please remember to vote for your favourite startups!

Awards by category:

Hottest Media/Entertainment Startup

Hottest E-commerce/Retail Startup

Hottest Education Startup

Hottest Startup Accelerator

Hottest Marketing/AdTech Startup

Hottest Games Startup

Hottest Mobile Startup

Hottest FinTech Startup

Hottest Enterprise, SaaS or B2B Startup

Hottest Hardware Startup

Hottest Platform Economy / Marketplace

Hottest Health Startup

Hottest Cyber Security Startup

Hottest Travel Startup

Hottest Internet of Things Startup

Hottest Technology Innovation

Hottest FashionTech Startup

Hottest Tech For Good

Hottest A.I. Startup

Fastest Rising Startup Of The Year

Hottest GreenTech Startup of The Year

Hottest Startup Founders

Hottest CEO of the Year

Best Angel/Seed Investor of the Year

Hottest VC Investor of the Year

Hottest Blockchain/Crypto Startup Founder(s)

Hottest Blockchain Protocol Project

Hottest Blockchain DApp

Hottest Corporate Blockchain Project

Hottest Blockchain Investor

Hottest Blockchain ICO (Europe)

Hottest Financial Crypto Project

Hottest Blockchain for Good Project

Hottest Blockchain Identity Project

Hall Of Fame Award – Awarded to a long-term player in Europe

The Europas Grand Prix Award (to be decided from winners)

The Awards celebrates the most forward thinking and innovative tech & blockchain startups across over some 30+ categories.

Startups can apply for an award or be nominated by anyone, including our judges. It is free to enter or be nominated.

What is The Europas?

Instead of thousands and thousands of people, think of a great summer event with 1,000 of the most interesting and useful people in the industry, including key investors and leading entrepreneurs.

• No secret VIP rooms, which means you get to interact with the Speakers

• Key Founders and investors speaking; featured attendees invited to just network

• Expert speeches, discussions, and Q&A directly from the main stage

• Intimate “breakout” sessions with key players on vertical topics

• The opportunity to meet almost everyone in those small groups, super-charging your networking

• Journalists from major tech titles, newspapers and business broadcasters

• A parallel Founders-only track geared towards fund-raising and hyper-networking

• A stunning awards dinner and party which honors both the hottest startups and the leading lights in the European startup scene

• All on one day to maximise your time in London. And it’s PROBABLY sunny!

europas8

That’s just the beginning. There’s more to come…

europas13

Interested in sponsoring the Europas or hosting a table at the awards? Or purchasing a table for 10 or 12 guest or a half table for 5 guests? Get in touch with:
Petra Johansson
Petra@theeuropas.com
Phone: +44 (0) 20 3239 9325

May
01
2018
--

Workplace, Facebook’s enterprise version, now has 52 SaaS apps and bots, opens up for more integrations

Workplace, the more secure, closed enterprise version of Facebook that competes against the likes of Slack, Microsoft Teams and Hipchat as a platform for employees to communicate and work on things together, says that it today has tens of thousands of organisations using its platform.

Now to pick up more, and to bring more of customers into the paid premium tier of Workplace, Facebook is announcing a couple of new developments at F8.

First, it’s expanding the premium tier of the service with several more integrations — apps that it says have been the most requested by the “tens of thousands” of organizations using Workplace — including Jira, Sharepoint, and SurveyMonkey, bringing the total now to just over 50. And second, Facebook is now taking applications for app developers who want to integrate with the platform.

The latter is a significant shift: up to now, Facebook had been handpicking third-party integrations itself.

The new apps that are being announced today roughly fall into three categories, as outlined by Facebook. Those that let users share information; those that let users get daily summaries; and those that let users speed up data entry and data queries by way of bots.

New integrations for JIRA, Cornerstone OnDemand and Medallia allow users to bring in previews of content from these apps so that they can discuss them in Workplace. Users of Sharepoint from Microsoft can now also share folders from that into Workplace groups.

Meanwhile, users of SurveyMonkey, Hubspot, Marketo, Vonage and Zoom can get notifications from those apps to update on how campaigns and other work is running within those services.

Lastly, Workplace is now bringing bots into its platform to help manage queries from apps outside of it. A new integration with ADP for example will let employees start a chat with it to request a payslip, book and get updates on vacation time and more. Others that are launching bots for querying their apps include AdobeSign, Kronos, Smartsheet and Workday.

The bigger idea behind today’s app expansion, and opening up the platform to more users, is to continue to expand the usefulness of Workplace.

It’s been a fairly methodical journey, the antithesis of “move fast and break things,” Facebook’s (sometimes notorious) mantra.

When the service made its official debut in closed beta back in January 2015 (when it was called Facebook at Work), it was little more than a basic version of Facebook that could be used in a more closed environment, a little like a closed Facebook Group.

It rebranded to Workplace when it officially left its closed beta in October 2016, but that was nearly two years later.

The subsequent addition of apps and features like chat (which came a year after that) have also been very gradual. Even today, there is a big gulf between the 50 or so apps that you can use with Workplace and the 1,400+ that are available on a platform like Slack.

Julien Codorniou, who leads the Workplace effort at Facebook, describes the company’s slower approach to adding apps and features as very intentional.

“We don’t need 1,000 apps on Workplace,” he said. “Our customers ask for an application like Sharepoint or Jira. We wanted to keep the integrations meaningful, and to keep them beautiful in the news feed.”

In 2017 Workplace snapped up retail giant Walmart as a customer, and in a way that deal is indicative of how Workplace has positioned itself as a product.

Facebook is targeting businesses that have a mix of employees that range from those who sit at desks to those who never sit at a desk. And as a result, it wants to keep the number of apps and IT noise low to avoid putting off those users.

“We try to connect people who have never had access to software as a service by making products like ServiceNow easy to use,” Codorniou said.

So there is a common touch, but it only goes so far.

Ultimately, the full set of app integrations is only available for those users who are on the premium tier of the product. Pricing is $3 per active user, per month up to 5,000 users. More users are negotiated with Facebook. Those who are standard users get a much more limited range of apps, including Box, OneDrive and Dropbox and RSS. Codorniou would not comment on whether Facebook had plans to add more apps into the free tier.

Mar
28
2018
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Microsoft can ban you for using offensive language

A report by CSOOnline presented the possibility that Microsoft would be able to ban “offensive language” from Skype, Xbox, and, inexplicably, Office. The post, which cites Microsoft’s new terms of use, said that the company would not allow users to “publicly display or use the Services to share inappropriate content or material (involving, for example, nudity, bestiality, pornography, offensive language, graphic violence, or criminal activity)” and that you could lose your Xbox Live Membership if you curse out a kid Overwatch.

“We are committed to providing our customers with safe and secure experiences while using our services. The recent changes to the Microsoft Service Agreement’s Code of Conduct provide transparency on how we respond to customer reports of inappropriate public content,” said a Microsoft spokesperson. The company notes that “Microsoft Agents” do not watch Skype calls and that they can only respond to complaints with clear evidence of abuse. The changes, which go into effect May 1, allows Microsoft to ban you from it services if you’re found passing “inappropriate content” or using “offensive language.”

These new rules give Microsoft more power over abusive users and it seems like Microsoft is cracking down on bad behavior on its platforms. This is good news for victims of abuse in private communications channels on Microsoft products and may give trolls pause before they yell something about your mother on Xbox. We can only dare to dream.

Mar
15
2018
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Hootsuite nabs $50M in growth capital for its social media management platform, passes 16M customers

Over the last several years, social media has become a critical and central way for businesses to communicate, and market to, their customers. Now, one of the startups that helped spearhead this trend has raised a round of growth funding to expand its horizons. Hootsuite, the Vacouver-based social media management company that counts some 16 million businesses as customers, said today that it has raised $50 million in growth capital — specifically through a credit financing agreement — from CIBC Innovation Banking.

We asked Ryan Holmes, the co-founder and CEO, for details about its valuation and funding, and said that it will be used for more acquisitions in the near future, and with it the valuation is unchanged.

“We opted for to go with non-dilutive credit at this point and found a great partner and terms in CIBC,” he wrote in an email. “The company is cash flow positive and the facility will primarily be reserved for M&A purposes. There is no associated valuation, however our latest 409a is up from last year and growth is very strong.”

Notably, the last time Hootsuite raised money — way back in 2014 — the company was already valued at $1 billion. For some context, at the time it had 10 million businesses as customers, and today it has 16 million including what it says is 80 percent of the Fortune 1000, so it’s likely that its valuation has grown as well.

“This financing is a testament to the strong fundamentals behind Hootsuite and our ongoing commitment to innovation and growth as the clear leader in social media management,” said Greg Twinney, CFO of Hootsuite, in a statement. “The additional capital will help us scale even faster to bring the most innovative products and partnerships to market globally and help our customers strategically build their brands, businesses and customer relationships with social.”

The funding, according to the release, will also be used to expand its business in Asia Pacific, Europe and Latin America. It also plans to add in more tools to serve the needs of specific verticals like financial services, government and healthcare.

You may not know the name Hootsuite but you might recognise its mascot — an owl — and more specifically its corresponding shortened link — it starts with ‘ow.ly’ — that is used a lot on Twitter, the social network that gave Hootsuite its first customers and ubiquity.

Things have moved along quite a bit since those early days, when Hootsuite first started as a side project for Holmes, who himself was running a marketing and advertising agency when he started it.

Social media is now the fastest-growing category for marketing spend — partly because of the popularity of social networking services like Facebook, Snapchat and Twitter; and partly because “eyeballs” can be better tracked and quantified on these networks over more legacy channels like print and outdoor ads. At the same time, presenting yourself as a business on a social network is getting harder and harder. Sites like Facebook are focused on trying to improve engagement, and that is leading it to rethink how it shares and emphasizes posts that are not organically created by normal people. On the other side, we’re seeing a new wave of privacy and data protection regulation come in that will change how data can be used across and within these sites.

All of this means that Hootsuite, and others that it competes with, need to get a lot smarter about what it offers to its customers, and how it offers it.

Starting as a modest tool that plugged into Twitter, Hootsuite itself now integrates with just about all of the major social platforms, most recently finally adding Instagram earlier this month. Its customers use a dashboard to both monitor a variety of social media platforms to track how their companies are being discussed, and also to send out messages to the world. And they now use that dashboard and Hootsuite for a growing array of other purposes, from placing ads to content marketing to analytics across an increasing number of platforms — a range of services that Hootsuite has developed both in-house and by way of acquisition.

One challenge that Hootsuite has had over the years has been the company’s focus on the freemium model, and how to convert its initially non-paying users into paying tiers with more premium offerings. Some of that expansion into new services appears to have helped tip the balance.

“In the past year, Hootsuite has seen tremendous growth from acquisitions like AdEspresso, to strategic partnerships with market leaders such as Adobe, to recognitions such as being named a leader in the Forrester Wave and G2 Crowd,” said Holmes in a statement. “This financing allows Hootsuite in continuing to create strong value for customers looking to unlock the power of social.”

Another challenge has been the fundamental fact that Hootsuite relies on third parties to essentially “complete” its offering: Hootsuite offers analytics and tools for marketing, but still needs to connect into social networks and their data pools in order to do that.

This makes the company somewhat dependent on the whims of those third parties. So, for example, if Twitter decides to either increase the fees it charges to Hootsuite, or tries to offer its own analytics and thereby cuts off some of Hootsuite’s access, this impacts the company.

One solution to this is to continue to integrate as many other platforms as possible, to create a position where its stronger because of the sum of its parts. Unsurprisingly, Hootsuite also says that some of the funding will be used to increase its partnerships and integrations.

More generally, we are seeing a trend of consolidation in the area of social media management, as several smaller, and more focused solutions are brought together under one umbrella to improve economies of scale, and also to build out that “hub” strategy, becoming more indispensable, by virtue of providing so much utility in one place.

As part of that trend, we’ve seen two of Hootsuite’s rivals, Sprinklr and Falcon.io (not an owl but another bird of prey), also grow by way of a spate of acquisitions.

Mar
07
2018
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Begin, a new app from Ryan Block, uses natural language to generate tasks from your Slack

Over two years after leaving Aol (now known as Oath) back in September 2015 to build a new startup, serial entrepreneur Ryan Block, with co-founder Brian LeRoux, is finally taking the wraps off the new venture: Begin, an intelligent app designed to help you keep track of things that you have to do, and when you should do them, as they come up in the stream of a messaging app.

By extension, Begin is also solving one of the more persistent problems of messaging apps: losing track of things you need to remember in the wider thread of the conversation.

Begin is launching today as an integration on Slack — which also happens to be one of its backers, by way of the Slack Fund .

Taking tasking apps to task

As you might have already seen, there are a lot apps out there today to help you track tasks and larger work you have to do, from software based around project management and specific to-do lists like Asana, Todoist, Wrike and Microsoft’s Wunderlist/To-Do, through to those geared more to planning performance management, like BetterWorks.

The problem is that while some people have found these various dedicated apps useful, for a good proportion, task apps are where tasks go to die. Block — despite a pretty productive resume that includes editor of Engadget, co-founder of Gdgt, and VP of Product at Aol — was one of the latter group.

“Every time I’ve ever tried using a task management app I found it sad and discouraging to use,” he said. “You just end up getting a massive backlog of tasks and you lose sight of what’s really important.” (I’m guessing he is not the only one: the proliferation of these dozens of apps, without any single, clear market leader, you could argue is one indication of how none of them have achieved a critical enough mass of users.)

So Block and LeRoux started to think about how you could fix task apps and make them a more natural part of how work gets done.

They thought of messaging apps and their role in communications today. And more specifically, they turned to Slack. With its rapid-fire conversations and ability to draw in data from other apps, Slack has not only been one of the fastest-growing services in the enterprise world, but it has changed the conversation around business communications (literally and figuratively) .

“Slack to us is more than just enterprise productivity,” Block said. “We see Slack as a primary tentpole in the future of work.”

Synchronicity

But, if you are one of the tens of millions of people that uses a messaging app like Slack at work, you’ll know that it can be wonderful and frustrating in equal parts. Wonderful because messaging can spur conversations or get answers quickly from people who might not be directly next to you; but frustrating because messaging can be — especially in group chat rooms — noisy, distracting and hard to track if you’re not paying attention all the time.

Begin has honed in on the third of these challenges of messaging platforms, and specifically in how it pertains to being in the working world.

Sometimes in the course of a conversation an item might come up that you or a coworker needs to follow up. Sometimes you might not even be a part of the conversation when that item comes up. In the course of a chat, the conversation might abruptly turn to another subject before you’ve had a chance to address an item. Begin is for all those moments.

Or, as Block described it to me, “It’s the difference between synchronous versus asynchronous work. Slack is good for certain things but for tracking things, it can be very hard.”

With Begin, the idea is that, when something arises that you need to follow up, you set yourself — or someone else — a reminder by essentially calling Begin (@begin) into the conversation and making a note of that task using normal language. (Example: “@begin Check in with @katie and @lynley about the earnings schedule tomorrow”.)

The two people I’ve tagged in my example don’t have to be there when I’m mentioning this, and they won’t have to look through Slack mentions to find what I said, nor do I need to leave the conversation to write the reminder. For all of us, we can turn to Begin itself to check out the tasks when we have time, and on Begin those tasks get ordered by their timing.

It’s a simple solution that is surprisingly not a part of the Slack experience today.

Aside from Slack, other investors in Begin’s seed round (of an undisclosed amount) include SV Angel, 415, SV Angel and General Catalyst, which took a stake in Begin as its first “bot” investment nearly two years ago.

Fast forward to today, with bot hype subsiding, Block is happy to say that while Begin has a degree of intelligence, particularly around reading natural language and turning that into an action of sorts (an action for you to do), he plays down the bot aspect. “We think of this as a Slack app, not as a bot,” he said.

Begin is, in fact, beginning small when it comes to features.

It’s only on Slack, you can’t draw in other apps or data into your tasks, it doesn’t give you a lot of short gradation when it comes to timing (days are currently the shortest increment for setting a task), and it doesn’t synchronise with any calendars.

Those are all areas that Block says that the company is working on for future iterations, either by being baked directly into the app by Begin itself, or there for others to integrate by way of an API.

Does Begin have a way of setting a task to look at your tasks? It’s one question that underscores the fact that ultimately you will still have to, at some point, look at a list. That may be something that the Begin team might try to address over time, too, but for now, it’s the simple creation that is the focus.

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