HMD Global just closed a $230-million dollar investment round with investments from Google, Qualcomm, and Nokia. This makes a whole lot of sense as HMD Global works with Foxconn to create Nokia-branded (brand licensed) Android smartphones with Qualcomm Snapdragon processors inside. They’ve made some pretty decent smartphones over the past few years, and they’re on the verge of becoming a … Continue reading
IT leaders are already starting to reap the rewards promised by AI and machine learning -- and a recent survey reveals half are considering greater investment as we hit economic headwinds.
Bain Capital Ventures partners Ajay Agarwal and Aeref Hilaly said that the firm is looking to invest in early-stage founders who can "create markets" and "change the world."
Part of the firm's strategy is leveraging the larger Bain Capital network to assist with things like early customer acquisition and preparations for the IPO roadshow.
Here's a look at what the 2 VCs look for in early-stage founders.
Visit Business Insider's homepage for more stories.
Bain Capital Ventures has built a reputation by backing later-stage growth investments in high-profile startups like SendGrid, which sold to Twilio for $3 billion, and DocuSign, which raised $629 million in an IPO in 2018.
But Ajay Agarwal, a partner with Bain Capital Ventures, told Business Insider that a number of their early-stage investments are currently on the unicorn track, including Moveworks, Redis Labs, Attentive, and JustWorks.
"We love meeting founders at the earliest stages," said Agarwal, who added that, while the firm is doubling down on Seed and Series A investments, it supports startups throughout their entire life cycle.
Agarwal said that his firm's geographic reach is much broader than many Bay area venture firms' territories, which he says don't extend too far beyond the highways that surround Silicon Valley.
When some investors go "east of the 101 or west of the 280 their networks get incredibly thin," Agarwal said.
Bain Capital Ventures, which has over $5 billion in assets under management, is the venture investing division within Bain Capital, a global private investment firm with over $100 billion in assets under management across venture capital, private equity, public equity, credit, life sciences, real estate, and impact investing. Bain Capital has offices scattered across 4 continents.
Bain touches "thousands of companies around the world," Agarwal added.
So if IPOs are on the horizon, Agarwal said, the firm connects its portfolio companies with Bain colleagues who run the company's private equity fund, which is separate from the venture arm, so that the startup can prepare for the roadshow with Bain affiliates who are familiar with the process of taking a startup public. The VC also said that their founders can draw on expertise from Bain Capital colleagues from other sectors, especially life sciences and real estate.
With all the expertise available inside Bain Capital's robust network, the venture capital wing can take risks on early-stage startups that may have great ideas, but need help shaping up to gain business credibility, the two VCs explained.
"It's the great entrepreneur that leads you to the market or creates the market," Aaref Hilaly, Bain's newest partner and a former Sequoia partner, told Business Insider in an interview.
"We're looking for the outliers," Hilaly added. "We're looking for the incredibly bright misfits who have the imagination to dream about how the world could be as opposed to being constrained by how it is today."
Hilaly said that the team looks to partner with startups when they have an idea, but an imperfect plan: "It's rough around the edges and pieces are missing."
Some of the early-stage startups they invest in don't even have a website, Agarwal added.
"Forget 'build a company' and forget 'get to profitability,'" Hilaly said.
Hilaly said that he places a great emphasis on the founding team and asks himself, "Is this a person that can create movement around the core of their company, that can really change the world?"
This search for unicorn-track, early-stage diamonds in the rough is well-illustrated by Bain's investment in open-source database company Redis, which based its core, free product on a programming language — especially hot among data scientists — called SQL, or Structured Query Language.
When Bain first participated in the Series A round for Redis, which now has the most downloaded SQL database in the world, Agarwal said that there was "tremendous download activity" and high "ratings and stars on GitHub."
But there was a catch: No robust money-making business model had been developed by Redis, Agarwal said.
Agarwal said that, back in 2013, he and his team were seeing a major shift from traditional SQL to NoSQL databases, so they invested in Redis and helped "to commercialize the success of the open-source product." They jumped in to assist the team with its product and market strategy, such as adding features to the commercial version of the database that users had to pay for.
In 2018, Redis masterminded a plan to take on Amazon Web Services, as Business Insider's Rosalie Chan previously reported.
"We helped them identify features that Amazon Web Services and other cloud vendors don't provide," Agarwal added, referring to the databases' ability to serve clients on premise in the client's offices, not only in distant third-party cloud servers.
In addition to helping the Redis team create a "capital efficient, together velocity, go-to-market model," the Bain team offered assistance with finding early customers as well as making key early and executive hires, Agarwal VC said.
Redis has received $146.6 million in total funding, and is on track to become a unicorn, Agarwal added, though he wouldn't reveal specifics.SEE ALSO: These two VCs were hobby Bitcoin miners a decade ago, and now they've raised $110 million for a second fund focused on cryptocurrencies and blockchain startups
SEE ALSO: PITCH-DECK LIBRARY: Search through over 150 pitch decks that startups including Uber, Postmates, and Airbnb used to raise millions
Join the conversation about this story » NOW WATCH: We tested a machine that brews beer at the push of a button
From leather covers to clear TPU cases, you'll find the best Samsung Galaxy Note 20 cases around right here.
Looking for Walmart TV deals? We tracked down sales on must-have 4K TVs, QLED TVs, and OLED TVs.
François is the latest in a string of departures from the company
The pair offered smiles and a thumbs-up from inside the capsule
The Lethal difficulty level should make for realistic combat
The market of Ebook readers may be slow these days, but this is not preventing companies from playing with the segment. Last year, Xiaomi announced ...
The post Xiaomi Mi Ebook Reader receives Bluetooth certification appeared first on Gizchina.com.
Tesla's new Gigafactory will officially be built in Texas.
SoftBank-backed small-business lender Kabbage is launching a checking account.
The launch comes at a time when small businesses are getting used to digital banking, having turned to fintechs like Kabbage to access PPP loans.
Other players, like e-commerce giant Shopify, are also launching business bank accounts with a focus on the small business segment.
Visit Business Insider's homepage for more stories.
As small businesses reconsider their banking relationships following less-than-stellar experiences dealing with some big banks for the paycheck-protection program, one fintech is hoping to grab at the chance to build its market share.
During the waves of PPP funding — government-backed loans meant to help support companies during the economic shutdown — many small businesses turned to fintechs. Kabbage, PayPal, and Square facilitated access to loans when businesses' primary banks were unable to process their applications.
In an effort to maintain that momentum, small-business lender Kabbage is launching business bank accounts. The announcement comes at a time when small business owners are, by necessity, coming around to the idea of digital banking.
Kabbage's entirely-digital checking account will feature free ATM deposits, bill-pay features, and Mastercard-powered debit cards. With no minimum balance requirements, Kabbage Checking will launch with a 1.10% APY.
Last year, Kabbage rolled out a payments service that features invoice tracking, a dashboard to manage cash flows and loans, and the ability to send customers links to get paid electronically. And in February, it expanded its lending business to include shorter-term loans, leveraging that payments data to make credit decisions.
With the launch of Kabbage Checking, it now offers a full suite of products for businesses to spend, borrow, and manage their money.
Kabbage has raised $500 million in equity funding from investors including BlueRun Ventures and SoftBank. Including its rounds of debt financing, Kabbage has raised $2.5 billion to date.
Read more: SoftBank-backed small-business lending startup Kabbage is moving into payments. Its execs explain why combining the 2 services makes sense.
Small business lenders have shifted their focus to PPP
To be sure, it's been a rough few months for small businesses and the fintechs that work with them. Kabbage, similar to other small business lenders like Fundbox and OnDeck, has paused its normal lending business.
In lieu of continuing to originate new loans, Kabbage has facilitated nearly $6 billion in PPP loans for more than 225,000 small businesses. And the vast majority of Kabbage's PPP borrowers were not existing customers.
"We met a ton of new customers through that process," Kathryn Petralia, cofounder and president of Kabbage told Business Insider. "Anecdotally, I've had customers say to me, 'Gosh, this is so great, I can't wait to work with you guys on other products.'"
Kabbage's checking account will integrate with its existing offerings, including its payments platform and lending.
Read more: Experts explain the complexities around getting PPP loans forgiven, and why so many small businesses are turning to fintechs like PayPal and Plaid
Non-traditional players are swooping in on business banking
Kabbage isn't alone in its business-banking ambitions. Fintechs like Rho and Novo have launched business banking products targeting small businesses and startups. And e-commerce giant Shopify, too, is rolling out a business checking account for its merchants.
What they all have in common is their problem statement: Small businesses are underserved by traditional banks, who often cater their business-banking products toward larger companies.
"100% of our customers have a checking account. 80% of them bank with the top 15 banks, but those banks are not able to serve them with other products and services," Petralia said.
In the small-business world, payments between businesses are often made with paper checks. And many of Kabbage's customers have found themselves using check-cashing services in lieu of their banks due to the delays in getting access to those deposits, Petralia said.
Kabbage is partnering with Green Dot to launch its checking account, which means it can offer its users the ability to deposit cash and checks in-person through Green Dot's partners like Walmart and CVS.
$85 billion e-commerce giant Shopify is trying to make banks irrelevant for small businesses. Its chief product officer lays out why.
The cofounder of SoftBank-backed Kabbage explains how the small business lending startup is using payments data to get into short-term loansSEE ALSO: Fintechs working with lenders and small businesses explain the pain points still plaguing the latest $320 billion round of PPP loans
SEE ALSO: SoftBank-backed small-business lending startup Kabbage is moving into payments. Its execs explain why combining the 2 services makes sense.
SEE ALSO: The inside story of how $3 billion Brex went from raising $150 million to slashing staff in just 10 days. Here are the execs who are out, and what's next for the fintech.
Join the conversation about this story » NOW WATCH: What it's like inside North Korea's controversial restaurant chain
V12 engines are rare enough these days, never mind V12 engines claiming to be the “greatest” ever made, but nothing about the Gordon Murray Automotive T.50 supercar ever promised to be mundane. Announced last year, the high-end road car from the father of the McLaren F1 hasn’t stinted when it comes to aerodynamics or unusual engineering – now we know … Continue reading
A phone clock in a tweeted promo video hints when to expect news from T-Mobile.
The Phoenix turns up-and-down motion into thrust
Elizabeth Warren and Ron Wyden separately called out Goldman Sachs for its handling of recent allegations that its credit decisions for the Apple Card were biased.Wyden tweeted Wednesday that he was "investigating" the allegations against Goldman and Apple, while Warren told Bloomberg that the bank needed to explain its decisions on credit limits.Their comments came after the entrepreneur David Heinemeier Hansson said in a series of viral tweets that he had received a credit limit 20 times that of his wife.Goldman has denied that gender is a factor in deciding people's credit limits, but it hasn't explained its methodology.Visit Business Insider's homepage for more stories.Prominent Democratic lawmakers have turned their fire on Goldman Sachs over allegations that its credit decisions for the Apple Card are sexist.
The startup’s funding to date constitutes a $15.3 million series A round, which closed back in June but is only officially being announced today, co-led by Andreesen Horowitz and Base10 Partners.Participating in the round were Uber Eats’ product head Stephen Chau, Opendoor cofounder JD Ross, Maple VC founder Andre Charoo.Virtual Kitchen was founded by Ken Chong, who formerly spearheaded Uber’s marketplace product team, and Matt Sawchuk, who helped launch Uber’s first peer-to-peer ridesharing service before transitioning into a role with Uber Eats in 2016.The triumvirate of cofounders is completed by chef Andro Radonich, who set up Bay Area-based corporate catering business Andro’s Rostilj.The company’s core proposition is that it uses data to find and lease the optimum locations for setting up a delivery-optimized kitchen, while also giving restaurants access to the operational and technology backbone that lets them quickly scale to new locations.“A restaurant brand can go from one location to 20 locations doing delivery only with minimal effort or upfront cost,” Virtual Kitchen CEO Ken Chong told VentureBeat.
One is for a beverage container, and the other is for a light that flashes in a rhythm that’s hard to ignore.At issue is whether AI qualifies as an inventor under statutes like the America Invents Act, which defines a filer as “the individual or, if a joint invention, the individuals collectively who invented or discovered the subject matter of the invention.” Some scholars argue that “individual” might be interpreted broadly to mean machines as well people and that denying an AI the right of conception could hinder innovation.“In deciding who is the ‘inventor,’ the courts look to figure out what person instructed the computer to do the work, and also what person was the first to recognize a solution brought to them by the computer.”However, critics like Brad Hulbert, founding partner with McDonnell Boehnen Hulbert & Berghoff, argue that the works of AI should be treated differently from those to which human inventors contributed.“There is no answer yet as to whether such a ‘person of ordinary skill’ is an individual or a machine, [but the] more machines recognize the pattern that leads to invention, the greater the reason for the barrier for patentability to be raised.”“Almost certainly, machines will keep getting better at pattern recognition,” he added.
BT has launched a new 5G mobile and fixed-line home broadband service, dubbed Halo, in a bid to muscle into the converged market.The service is available from a mere £57.99 per month, although existing 5G customers with BT Plus plans will be automatically upgraded to benefit from Halo.It is the latest move towards BT's plan for an all-IP network, with plans under way to decommission its copper cables by 2027.The package includes BT's fastest speeds at home and on the go via its fibre and 5G service, and BT's smart hub with Wi-Fi controls, unlimited mobile, home phone and broadband calls."In essence this is a slightly better offering than the previous BT Plus service.BT must now invest in promoting this new brand, which might confuse the market.
What's worse: A bed that's too cold or a bed that's too hot?They're both terrible, both a threat to getting a good night's sleep.The Sharks didn't offer its inventors a deal, in part due to the price.It's steep, no question, but the newer, third-generation model costs $100 less than that first-gen unit.And today only, CNET readers can save extra on the BedJet v3 with promo code CHEAPSKATE.(I'm not allowed to say how much extra, just that it's the best deal BedJet has offered so far in 2019.)
Du har varit på intervju och fått besked att det eftertraktade jobbet är ditt.Det är lätt att bli exalterad, men när erbjudandet kommer bör du ha is i magen och fundera ett extra varv.Sajten Fast Company har i en artikel listat fem viktiga frågor du bör ställa dig själv innan du tackar ja till ett jobberbjudande:Är det rätt roll för dig?Det är smickrande att få ett erbjudande, men tänk efter om rollen verkligen passar in i dina karriärplaner.Ta reda på mer om företaget och kulturen, är det en arbetsplats som passar dig?
TLDR: Aura Health’s meditation app uses AI to craft customized sessions that work for you for as low as $39.99.Every day, we present deals on cool tech apps and services to bolster your hardware arsenal; or major learning opportunities to beef up your career skill sets.Don’t get us wrong, they’re great.But we like to think we’re well rounded folks, so we thought today we’d stretch a bit and serve up an offer especially tailored to improving an area even more vital: your mental health.Before you start envisioning drum circles and prayer crystals, know this…Aura Health isn’t metaphysical mumbo-jumbo.It’s hardcore science based in groundbreaking AI in service of relieving the stresses and anxieties we all face.
Today's story comes from "Bob", a freshly minted IT professional, enjoying his first role in the industry back in the early 2000s.Like all too many, Bob indulged in the odd bit of torrenting and found himself in need of credit because his particular torrent site of choice throttled downloads based on how much a user had shared."Being rather concerned about sharing from my IP whilst gaming, it's something I never did (share) so really needed the boost [as] I was a top-tier leacher."Confused, Bob called up the DC (at 11pm on Sunday) and was told that the allocated bandwidth for the month had been used up (oops)."It's fair to say," said Bob, "I had a grip on the seat of my chair like never before, everything was clenched, what could I do to fix this?"However, the company did have another rack lurking in the DC and "after much fretting and a few chunks of hair pulled out, I realised that if I could get onto the other rack I may just may be able to get into the router through its WAN port over their LAN by using the same WAN IP, just from within their network."
Kenya’s Twiga Foods raised a total of $30 million in October from lenders and investors led by Goldman Sachs.This adds to the list of African startups the U.S. financial firm has backed, including e-commerce venture Jumia and South African fintech startup Jumo.Twiga, a B2B food distribution company, will use its funds to set up a distribution center in Nairobi and deepen its conversion to offering supply chain services for both agricultural and FMCG products.The venture has moved quickly on diversifying its supply-chain product mix.“We’re not just doing fruits and vegetables…I’d say we’re at 50/50 now between FMCG and fresh,” said Njonjo.“If you’re able to serve Nairobi’s 180,000 retailers, it means that the furthest customer would be less than two kilometers away from any shop.
Tal Chitayat noticed the waste for the first time about two miles into Manhattan.Running the New York City Marathon last year, he had already trod through Staten Island, Brooklyn and Queens and was coming up on Mile 17.Only nine more miles to go.“That’s 45,000 plastic sponges being used for maybe three seconds before ending up in a landfill.”To Chitayat, the owner of Full Circle, a household products company that uses natural and recycled materials (it’s also a certified B corporation), there was an opportunity for a partnership with the New York City Road Runners, the organization that puts on the NYC Marathon.For the 49th annual New York City Marathon, which will be run this weekend, Full Circle has donated 45,000 biodegradable cellulose sponges.
Tropical Cyclone Kyarr appears to be winding down as it moves through the Arabian Sea and NASA provided forecasters with an analysis of rainfall rates occurring in the weakening storm.NASA has the unique capability of peering under the clouds in storms and measuring the rate in which rain is falling.Global Precipitation Measurement mission or GPM core passed over Kyarr from its orbit in space and measured rainfall rates throughout the storm.The GPM's core satellite passed over Tropical Cyclone Kyarr in the Arabian Sea, Northern Indian Ocean on Oct. 31 at 3:56 a.m. EDT (0756 UTC) and found the heaviest rainfall occurring in a very small area around the center of circulation where rain was falling at 1.6 inches (40 mm) per hour.Most of the rain falling throughout the rest of the system was occurring at a rate of over 25 mm (about 1 inch) per hour Forecasters incorporate the rainfall data into their forecasts.At 5 a.m. EDT (0900 UTC) on Oct. 31, the Joint Typhoon Warning Center or JTWC noted that Kyarr was located near latitude 17.7 degrees north and longitude 59.9. degrees east, about 174 miles south-southeast of Masirah Island, Oman.
Lots of you have likely heard things going bump in the night, something people like to attribute to the activities of ghosts and other supernatural beings.These were not one or two tortured souls, but an entire spectral army which seemed to be fuelled by the unfair economic conditions of the period.The main thing to note about these fearsome phantoms is there was an element of truth to them, one which requires no supernatural belief whatsoever.Static electricity could indeed be harnessed, but the problem was the Victorians then went overboard in their concerns.As Professor Briefel comments, these “debates on productive labour and the line between efficient and wasted energy” caused a sensation that threatened even ultra-mundane things such as buying interior decoration.The other problem was that buyers of such tables often couldn’t resist poking and prodding to get a possible reaction - often leading to bad consequences.
A new computational tool developed by KAUST scientists uses artificial intelligence (AI) to infer the RNA-binding properties of proteins.The software, called NucleicNet, outperforms other algorithmic models of its kind and provides additional biological insights that could aid in drug design and development."RNA binding is a fundamental feature of many proteins," says Jordy Homing Lam, a former research associate at KAUST and co-first author of the study."Our structure-based computational framework can reveal the detailed RNA-binding properties of these proteins, which is important for characterizing the pathology of many diseases."Proteins routinely interface with RNA molecules as a way to control the processing and transporting of gene transcripts--and when these interactions go awry, information flow inside the cell is disrupted and disorders can arise, including cancer and neurodegenerative disease.To better understand which parts of an RNA molecule tend to bind on different surface points of a protein, Lam and his colleagues turned to deep learning, a type of AI.
Fake news, Facebook News, Brexit, WhatsApp hacks, and the “enemy of the people.”These are just some of the fast-changing stories that journalists across Europe are striving to cover — at times finding themselves at the center of that story.Europe’s newsrooms are facing multiple challenges as they adjust to a more populist environment, greater competition from digital rivals, and continued financial constraints.For the sake of citizens, societies, and world order, journalists and publishers must now navigate an ever more complex landscape to hold power accountable.“Fake news undermines well-informed democratic debate… it also destroys public confidence in media and adds to the financial pressures facing quality news organizations,” said James Lamont, Managing Editor of the Financial Times, when discussing a new UK-wide initiative to fight fake news.On November 26 in Amsterdam, The Future of News Europe will gather top editors, executives, and thought leaders from across print, TV, and digital to debate how to secure growth, safeguard transparency, and promote quality journalism for the next generation.
Law firms are notorious paper pushers and even as they digitize business processes, there’s still a lot of manual labor associated with document preparation and moving data between systems.BAL Global (Berry Appleman & Leiden LLP), a firm specializing in corporate immigration, was ready to eliminate such busy work and take the next step in automation.It launched a program around robotic process automation (RPA) to allow average business users to configure software “robots” to automate what it calls “swivel chair” repetitive tasks.Since launching its RPA campaign, BAL Global is on a much faster automation track while reaping the benefits of increased productivity and lower operational costs.[ IT leadership: 10 steps to a successful digital transformationLearn more about IDG’s new Insider Pro premium, ad-free subscription site ]
Following a teaser about it earlier this year, HTC has officially released its new Exodus 1s, a smartphone it claims can run a full Bitcoin node.The device is billed as a ‘cryptophone,’ one targeted at cryptocurrency enthusiasts who want to merge their favorite obsession with their handset.The model also features a hardware wallet that’s isolated from the operating system for storing crypto coins.The HTC Exodus 1s is, first and foremost, an Android smartphone with 4G LTE connectivity.Key to the device is its ability to run a full bitcoin node, according to the company, which is made possible in part by a 400GB microSD card.Joining that is the TEE, a hardware wallet that isolates the user’s cryptocurrency coins from their OS and, therefore, from any malware issues.