Nov
26
2019
--

Instagram founders join $30M raise for Loom work video messenger

Why are we all trapped in enterprise chat apps if we talk 6X faster than we type, and our brain processes visual info 60,000X faster than text? Thanks to Instagram, we’re not as camera-shy anymore. And everyone’s trying to remain in flow instead of being distracted by multi-tasking.

That’s why now is the time for Loom. It’s an enterprise collaboration video messaging service that lets you send quick clips of yourself so you can get your point across and get back to work. Talk through a problem, explain your solution, or narrate a screenshare. Some engineering hocus pocus sees videos start uploading before you finish recording so you can share instantly viewable links as soon as you’re done.

Loom video messaging on mobile

“What we felt was that more visual communication could be translated into the workplace and deliver disproportionate value” co-founder and CEO Joe Thomas tells me. He actually conducted our whole interview over Loom, responding to emailed questions with video clips.

Launched in 2016, Loom is finally hitting its growth spurt. It’s up from 1.1 million users and 18,000 companies in February to 1.8 million people at 50,000 businesses sharing 15 million minutes of Loom videos per month. Remote workers are especially keen on Loom since it gives them face-to-face time with colleagues without the annoyance of scheduling synchronous video calls. “80% of our professional power users had primarily said that they were communicating with people that they didn’t share office space with” Thomas notes.

A smart product, swift traction, and a shot at riding the consumerization of enterprise trend has secured Loom a $30 million Series B. The round that’s being announced later today was led by prestigious SAAS investor Sequoia and joined by Kleiner Perkins, Figma CEO Dylan Field, Front CEO Mathilde Collin, and Instagram co-founders Kevin Systrom and Mike Krieger.

“At Instagram, one of the biggest things we did was focus on extreme performance and extreme ease of use and that meant optimizing every screen, doing really creative things about when we started uploading, optimizing everything from video codec to networking” Krieger says. “Since then I feel like some products have managed to try to capture some of that but few as much as Loom did. When I first used Loom I turned to Kevin who was my Instagram co-founder and said, ‘oh my god, how did they do that? This feels impossibly fast.’”


Systrom concurs about the similarities, saying “I’m most excited because I see how they’re tackling the problem of visual communication in the same way that we tried to tackle that at Instagram.” Loom is looking to double-down there, potentially adding the ability to Like and follow videos from your favorite productivity gurus or sharpest co-workers.

Loom is also prepping some of its most requested features. The startup is launching an iOS app next month with Android coming the first half of 2020, improving its video editor with blurring for hiding your bad hair day and stitching to connect multiple takes. New branding options will help external sales pitches and presentations look right. What I’m most excited for is transcription, which is also slated for the first half of next year through a partnership with another provider, so you can skim or search a Loom. Sometimes even watching at 2X speed is too slow.

But the point of raising a massive $30 million Series B just a year after Loom’s $11 million Kleiner-led Series A is to nail the enterprise product and sales process. To date, Loom has focused on a bottom-up distribution strategy similar to Dropbox. It tries to get so many individual employees to use Loom that it becomes a team’s default collaboration software. Now it needs to grow up so it can offer the security and permissions features IT managers demand. Loom for teams is rolling out in beta access this year before officially launching in early 2020.

Loom’s bid to become essential to the enterprise, though, is its team video library. This will let employees organize their Looms into folders of a knowledge base so they can explain something once on camera, and everyone else can watch whenever they need to learn that skill. No more redundant one-off messages begging for a team’s best employees to stop and re-teach something. The Loom dashboard offers analytics on who’s actually watching your videos. And integration directly into popular enterprise software suites will let recipients watch without stopping what they’re doing.

To build out these features Loom has already grown to a headcount of 45, though co-founder Shahed Khan is stepping back from company. For new leadership, it’s hired away former head of web growth at Dropbox Nicole Obst, head of design for Slack Joshua Goldenberg, and VP of commercial product strategy for Intercom Matt Hodges.


Still, the elephants in the room remain Slack and Microsoft Teams. Right now, they’re mainly focused on text messaging with some additional screensharing and video chat integrations. They’re not building Loom-style asynchronous video messaging…yet. “We want to be clear about the fact that we don’t think we’re in competition with Slack or Microsoft Teams at all. We are a complementary tool to chat” Thomas insists. But given the similar productivity and communication ethos, those incumbents could certainly opt to compete. Slack already has 12 million daily users it could provide with video tools.

Loom co-founder and CEO Joe Thomas

Hodges, Loom’s head of marketing, tells me “I agree Slack and Microsoft could choose to get into this territory, but what’s the opportunity cost for them in doing so? It’s the classic build vs. buy vs. integrate argument.” Slack bought screensharing tool Screenhero, but partners with Zoom and Google for video chat. Loom will focus on being easily integratable so it can plug into would-be competitors. And Hodges notes that “Delivering asynchronous video recording and sharing at scale is non-trivial. Loom holds a patent on its streaming, transcoding, and storage technology, which has proven to provide a competitive advantage to this day.”

The tea leaves point to video invading more and more of our communication, so I expect rival startups and features to Loom will crop up. Vidyard and Wistia’s Soapbox are already pushing into the space. As long as it has the head start, Loom needs to move as fast as it can. “It’s really hard to maintain focus to deliver on the core product experience that we set out to deliver versus spreading ourselves too thin. And this is absolutely critical” Thomas tells me.

One thing that could set Loom apart? A commitment to financial fundamentals. “When you grow really fast, you can sometimes lose sight of what is the core reason for a business entity to exist, which is to become profitable. . . Even in a really bold market where cash can be cheap, we’re trying to keep profitability at the top of our minds.”

May
17
2019
--

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.

Jul
28
2018
--

Blogs ‘n’ YouTube

Hey folks, I thought I'd share some interesting travel-related blogs and YouTube channels that I follow:

Blogs

totesmboats.blogspot.com

Ester has decided to live on a houseboat on Lake Union, Seattle. Follow her journey.

rootlessroutes.com

Follow Eli, who in her 50's decided to take to the road on an endless road trip with her cat, and she hasn't looked back. Such a great adventure and awesome photography too.

toeuropeandbeyond.com

Another great travel blog, lots of Europe and elsewhere.

You Tube Channels

vagabrothers

Two brothers travelling the world. Great video quality as well as tons of advice about what to see and travel tips. They've even started making VR movies.

Wolters World

Quick travel advice for countries and cities all over the world. I watch every video but alas, they're nearly all just talking heads with a few travel scenes thrown in. But the advice is solid.

Sailing SV Delos

Absolutely hands down the best sailing video channel ever! A bunch of fun folks circumnavigating the world over the last 7-8 years on a 53' Amel Super Maramu 2000. Go back to Episode 1 (and we're up to like 188 now) and watch them in order to see the evolution of the adventure and the crew. The early videos were primitive but stick with it because now they are some of the best videographers in the business – totally pro-broadcast quality.

Sailing Yacht Ruby Rose

Nick and Terysa sail a 38' Southerner monohull, and have travelled from Europe, across the Atlantic to the Caribbean, and are now heading to Bermuda and back across the Atlantic to Europe. Lots of fun and travel videography, and as a Brit, I like Nick, since he's English and curses a lot. ?

Gone with the Wynns

Jason and Nikki are great adventurers. They started off touring the USA and Canada in an RV, and those videos are very informative if you're considering the RV nomadic lifestyle. A couple of years ago they bought a Leopard catamaran in Florida, learned to sail it (!) and meandered through the Bahamas, down to Panama and Equador, and now plan to cross the Pacific. Great, fun travel videos (it's not all sailing!) with their 2 cats.

Sailing La Vagabonde

Riley and Elayna are an Australian Couple who've been on a round the world sail for years. Currently they're sailing a Outremer catamaran, having gone around the Mediterranean and across the Atlantic to the Caribbean, but they started on a 45' Beneteau monohull. For the best experience, go back to Episode 1 and watch them all in order.

 

Nov
27
2017
--

Amazon debuts Elemental-based AWS Media Services for video app creation

 Video is what consumers are paying attention to these days, and Amazon’s AWS is hoping to capitalise on that with one of its latest launches. Doubling down on its video services for media companies, app publishers — and actually any other organization that has considered launching a video service — Amazon today announced a new suite of five video processing tools as part of… Read More

Oct
26
2017
--

Facebook’s Workplace, now at 30,000 orgs, adds Chat desktop apps and group video chat

 It’s been once year since Workplace, Facebook’s social network designed specifically for businesses and other organizations, came out of beta to take on the likes of Slack, Atlassian, Microsoft and others in the world of enterprise collaboration. Now, with 30,000 organizations using Workplace across some 1 million groups (more than double the figures Facebook published April)… Read More

Sep
27
2017
--

Cloudflare moves into video with the launch of Cloudflare Stream

 Cloudflare has made a name for itself as a content delivery platform and security company, offering services to help keep websites up and running (sometimes running into a little controversy in the process). Now, as the company marks its 7th birthday — it actually launched on September 27, 2010 — it’s moving into another new area, literally and figuratively. Cloudflare is… Read More

Aug
08
2017
--

BlueJeans Network names industry vet Quentin Gallivan as CEO

 BlueJeans Network, the cloud video and collaboration company, announced today that Quentin Gallivan, an industry veteran who has helped run several tech companies, will be taking over as CEO. Former CEO and company founder Krish Ramakrishnan will remain with the company and take on the role of executive chairman. He will also continue to lead strategy and innovation. Ramakrishnan doesn’t… Read More

Mar
25
2017
--

Matroid can watch videos and detect anything within them

 If a picture is worth a thousand words, a video is worth that times the frame rate. Matroid, a computer vision startup launching out of stealth today, enables anyone to take advantage of the information inherently embedded in video. You can build your own detector within the company’s intuitive, non-technical, web platform to detect people and most other objects. Reza Zadeh, founder… Read More

Sep
13
2016
--

DropIn brings drone-based video streaming to insurance biz

screen-shot-2016-09-13-at-12-14-18-pm DropIn, an LA-based startup wants to change the way the insurance companies process claims with two-way video claims processing and drone-based appraisals.
The company, which launched in 2015, provides on-demand live video streaming services to help insurance companies improve the claims and underwriting process. The solution relies on a drone equipped with a camera or a smartphone camera… Read More

Apr
18
2016
--

IBM inks video deals with AOL, CBC, more; debuts quality live-stream over ‘commodity’ Internet

IBM Comic-Con Wire Photo IBM today unveiled some significant strides forward in its bid to be a major player in the world of online and cloud-based video services, three months after the company acquired live-streaming startup Ustream and formed a cloud video unit. AOL (which owns TechCrunch), the Canadian Broadcasting Company, Comic-Con and Mazda have all signed on for IBM to provide online video… Read More

Powered by WordPress | Theme: Aeros 2.0 by TheBuckmaker.com