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Depop, a social app targeting millennial and Gen Z shoppers, bags $62M, passes 13M users – TechCrunch

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The rising popularity of omni-channel commerce — selling to customers wherever they happen to be spending time online — has spawned an army of shopping tools and platforms that are giving legacy retail websites and marketplaces a run for their money. Now, one of the faster growing of these is announcing an impressive round of funding to stay on trend and continue building its business.

Depop, a London startup that has built an app for individuals to post and sell (and mainly resell) items to groups of followers by way of its own and third-party social feeds, has closed a Series C round of $62 million led by General Atlantic. Previous investors HV Holtzbrinck Ventures, Balderton Capital, Creandum, Octopus Ventures, TempoCap and Sebastian Siemiatkowski, founder and CEO of Swedish payments company Klarna all also participated.

The funding will be used in a couple of areas. First, to continue building out the startup’s technology — building in more recommendation and image detection algorithms is one focus.

And second, to expand in the US, which CEO Maria Raga said is on its way to being Depop’s biggest market, with 5 million users currently and projections of that going to 15 million in the next three years.

That’s despite strong competition from other peer-to-peer selling platforms like Vinted, Poshmark, and social platforms that have been doubling down on commerce, like Instagram and Pinterest, but on the other hand the opportunity is big: a recent report from ThredUp, another second-hand clothes sales platform, estimated that the total resale market is expected to more than double in value to $51 billion from $24 billion in the next five years, accounting for 10% of the retail market.

Prior to this, Depop had raised just under $40 million. It’s not disclosing its valuation except to say it’s a definitely upround. “I’m extremely happy,” Raga said when I asked her about it this week.

The rise of the bedroom entrepreneur

The funding comes on the heels of strong growth and strong focus for the startup.

If “social shopping”, “selling to groups of followers”, and the “use of social feeds” (or my headline…) didn’t already give it away, Depop is primarily aimed at millennial and Gen Z consumers. The company said that about 90% of its active users are under the age of 26, and in its home market of the UK it’s seen huge traction with one-third of all 16-24 year-olds registered on Depop.

Its rise has dovetailed with some big changes that the fashion industry has undergone, said Raga. “Our mission is to redefine the fashion industry in the same way that Spotify did with music, or Airbnb did with travel accommodation,” she said.

“The fashion world hasn’t really taken notice” of how things have evolved at the consumer end, she continued, citing concerns with sustainability (and specifically the waste in the fashion industry), how trends are set today (no longer dictated by brands but by individuals), and how anything can be sold by anyone, from anywhere, not just from a store in the mall, or by way of a well-known brand name website. “You can now start a fashion business from your bedroom,” she added.

For this generation of bedroom entrepreneurs, social apps are not a choice, but simply the basis and source of all their online engagement. Depop notes that the average daily user opens the app “several times per day” both to browse things, check up on those that they follow, to message contacts and comment on items, and of course to buy and sell. On average, Depop users collectively follow and message each other 85 million times each month.

This rapid uptake and strong usage of the service has driven it to 13 million users, revenue growth of 100% year-on-year for the past few years, and gross merchandise value of more than $500 million since launch. (Depop takes a 10% cut, which would work out to total revenues of about $50 million for the period.)

When we first wrote about Depop back in 2015 (and even prior to that), the startup and app were primarily aiming to provide a way for users to quickly snap pictures of their own clothes and other already-used items to post them for sale, one of a wave of flea-market-inspired apps that were emerging at that time. (It also had an older age group of users, extending into the mid-thirties.)

Fast forward a few years, and Depop’s growth has been boosted by an altogether different trend: the emergence of people who go to great efforts to buy limited editions of collectable, or just currently very hot, items, and then resell them to other enthusiasts. The products might be lightly used, but more commonly never used, and might include limited edition sneakers, expensive t-shirts released in “drops” by brands themselves, or items from one-off capsule collections.

It may have started as a way of decluttering by shifting unused items of your own, but it’s become a more serious endeavor for some. Raga notes that Depop’s top sellers are known to clear $100,000 annually. “It’s a real business for them,” she said.

And Depop still sells other kinds of goods, too. These pressed-flower phone cases, for example, have seen a huge amount of traction on Twitter as well as in the app itself in the last week:

Alongside its own app and content shared from there to other social platforms, Depop extends the omnichannel approach with a selection of physical stores, too, to showcase selected items.

The startup has up to now taken a very light-touch approach to the many complexities that can come with running an e-commerce business — a luxury that’s come to it partly because its sellers and buyers are all individuals, mostly younger individuals, and, leaning on the social aspect, the expectation that people will generally self-police and do right by each other, or less risk getting publicly called out and lose business as a result.

I think that as it continues to grow, some of that informality might need to shift, or at least be complemented with more structure.

In the area of shipping, buyers generally do not seem to expect the same kind of shipping tracking or delivery professionals appearing at their doors. Sellers handle all the shipping themselves, which sometimes means that if the buyer and seller are in the same city, an in-person delivery of an item is not completely unheard of. Raga notes that in the US the company has now at least introduced pre-paid envelopes to help with returns (not so in the UK).

Payments come by way of PayPal, with no other alternatives at the momen. Depop’s 10% cut on transactions is in addition to PayPal’s fees. But having the Klarna founder as a backer could pave the way for other payment methods coming soon.

One area where Depop is trying to get more focused is in how its activities line up with state laws and regulations.

For example, it currently already proactively looks for and takes down posts offering counterfeit or other illicit goods on the platform, but also relies on people or brands reporting these. (Part of the tech investment into image detection will be to help improve the more automated algorithms, to speed up the rate at which illicit items are removed.)

Then there is the issue of tax. If top sellers are clearing $100,000 annually, there are taxes that will need to be paid. Raga said that right now this is handed off to sellers to manage themselves. Depop does send alerts to sellers but it’s still up to the sellers themselves to organise sales tax and other fees of that kind.

“We are very close to our top sellers,” Raga said. “We’re in contact on a daily basis and we inform of what they have to do. But if they don’t, it’s their responsibility.”

While there is a lot more development to come, the core of the product, the approach Depop is taking, and its success so far have been the winning combination to bring on this investment.

“Technology continues to transform the retail landscape around the world and we are incredibly excited to be investing in Depop as it looks to capture the huge opportunity ahead of it,” said Melis Kahya, General Atlantic Head of Consumer for EMEA, in a statement. “In a short space of time the team has developed a truly differentiated platform and globally relevant offering for the next generation of fashion entrepreneurs and consumers. The organic growth generated in recent years is a testament to the impact they are having and we look forward to working with the team to further accelerate the business.”

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The best portable projectors for 2021

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We love the idea of casting a large screen whether it’s to binge-watch a series over the weekend, deliver business presentations during the weekdays, or project photos from the smartphone anytime in between. These conveniences grow manifold with the portable projectors that are mini-sized to fit right into your backpack and transform any surface into a large screen, ideally 100-inch plus, without any hassle.

We have rounded up the best 4K ultra-short throw projectors on the market previously. But if that’s not your budget or it doesn’t really fall in your scope somehow, here’s a list of (in no particular order) the best mini projectors worth your cash. Some of these may feel old but they are as good to hit the road with. Without ado then – here are the best portable projectors in 2021.

ViewSonic M2

There is still time before you start traveling for business like you did say about two years back. When you do, the ViewSonic M2 will be the right portable projector to haul along in the bag for presentation anytime, anywhere. The full HD (1920x1080p resolution) LED projector is compact for office settings and lightweight to be carried along. It provides 1,200 lumens of brightness and offers over 30,000 hours of light source usage.

What We Like

– Interesting kickstand design
– Good brightness
– Dual Harman Kardon speakers

What We Don’t Like

– No built-in battery

The $732.99 ViewSonic M2 is even more interesting because of its short throw lens that allows the projector to cast up to 100-inches from only 9 feet away. Built-in dual Harman Kardon Bluetooth speakers for amazing audio, the projector runs Android and lets users download apps to project directly for entertainment. The ViewSonic M2 supports HDMI and USB Type-C input modes and is compatible with PCs, Macs, smartphones and all sorts of media players.

AAXA P7

AAXA P7 is one of the smallest mini projectors to deliver true native 1080p resolution. This next-gen solid-state mini projector integrates compact 4th generation Texas Instruments Digital Light Processing (DLP) technology – found in movie theaters – to makes the native 1920×1080 pixel resolution possible.

What We Like

– Full HD resolution
– Great performance for its size
– Delivers big picture in low light

What We Don’t Like

– Limited contrast ratio
– No zoom

Provided with rated brightness of 600 lumens, better than some of the other projectors in a similar form factor, the AAXA P7 doesn’t support Wi-Fi but comes with VGA, USB and HDMI options for connectivity. It also features a card reader to project content directly. The versatility of this compact projector is supported by a tripod provided alongside. Backed with 30,000 hours luminous LEDs, the P7 projector produces a 120-inch image. Its MSRP has been dropped to $419 from the initial $499.

Epson EpiqVision Mini EF12

One of the more refined portable projectors from Epson, the EF12 touts 1920 x 1080 pixel resolution with 1,000 lumens brightness. Designed primarily for streaming enthusiasts in the work-from-home era, this 4K compatible (downconvert), smart streaming laser projector comes with built-in Android TV and support for HDR.

What We Like

– Up to 150-inch projection
– Built-in Android TV for direct access to apps
– Nice design, superior sound

What We Don’t Like

– Limited brightness and contrast

If you want to continue your binge-watching sessions on a screen measuring up to 150-inches, pack it and take it along in your travel bag after use, the $899.99 Epson EF12 is a delightful option. It lets you play movies, series and videos directly from Hulu, HBO or YouTube over wireless connectivity with true audio by Yamaha, right out of the box.

LG CineBeam PH550

The extremely portable and lightweight LG CineBeam PH550 LED projector features built-in TV tuner and can project TV shows with nice video and image quality. The LED-based DLP projector comes with 550 lumens rated brightness but is slightly low on resolution. The projector has only 1,280 x 720 pixel resolution and it delivers up to 100-inch screen.It is priced at $499.

What We Like

– Small structure big delivery
– Onboard rechargeable battery
– Built-in TV tuner

What We Don’t Like

– Very low resolution
– Expensive

Enabling entertainment or a professional set up is not at all difficult with this LG projector. It is Bluetooth compatible and features an HDMI port. It comes packed with a rechargeable battery onboard offering 2.5 hours of backup. The LG PH550 features wireless mirroring to connect with a smartphone or tablet and has 30,000 hours lamp life (virtually it will never need replacement).

Anker Nebula Solar

While the Anker Nebula Capsule II is a very capable projector in its own right, our preference lies with the Solar Portable. Arguably, Anker Nebula Solar is the finest portable projector in the company’s portfolio with the right blend of features to deliver immaculate picture quality both outdoors and indoors. It can be mistaken for a solar-powered projector because of its moniker, but the Nebula model is far from renewably powered. It does come with built-in battery.

What We Like

– Great features for its petite size
– Decent picture and sound
– High resolution and HDR support

What We Don’t Like

– Dreary sound

The Nebula Solar features 1080p resolution and supports HDR10. It can cast up to 120-inches screen with a good degree of brightness for impressive picture quality. The projector has 400 lumens of brightness and it runs Android TV. The onboard battery runs for almost 3 hours but this can be beefed up with the provided USB-C charging cable. Currently Anker is selling it at $469.99.

Kodak Luma 350

A flagship offering in the Luma series of Kodak’s palmtop projectors, the Kodak Luma 350 is powered by Android to let the users download apps in a jiffy and stream content directly without the phone’s intervention. The projector comes with Bluetooth, Wi-Fi, HDMI and USB for connectivity.

What We Like

– Built-in Android
– Rechargeable battery onboard
– Plenty of connectivity options

What We Don’t Like

– Average video quality
– Very minimal resolution

Preinstalled with apps like Netflix, Hulu, Amazon Prime Video, Twitch and YouTube, this LED-based DLP projector delivers content in 150 ANSI lumens brightness. The projector has an 854x480p resolution, 3,500:1 contrast ratio and is designed primarily for casual video watching. Built-in with 3-watt speaker, the LED projector has a rated lifetime of 30,000 hours and features 7,500mAh battery, good enough to last a couple of days between charges. The $536.99 price tag has been slashed by Kodak and you can pick one up for $299.99.

ASUS ZenBeam Latte L1

A new member on the block, the ASUS ZenBeam Latte L1 LED projector has a slightly low native resolution of 720p and 300 lumens brightness, but that doesn’t stop it from delivering up to 120-inch screen with minimum picture distortion or color difference. The coffee mug-shaped projector features operative controls on the top in circular orientation and includes wireless smartphone mirroring, USB Type-A and HDMI for connectivity.

What We Like

– Lovely design
– Powerful 10W Bluetooth speaker

What We Don’t Like

– Average brightness and resolution
– Lacks USB charging

Interestingly, ASUS packs the ZenBeam Latte L1 with a 6000mAh battery that provides the compact LED projector video playback time of 3 hours and 12 hours in case of audio. It features a rather powerful Harman Kardon 10W Bluetooth stereo speaker that enhances the bass and overall audio for an authentic theatre-esque experience.

Xgimi MoGo Pro

Xgimi MoGo Pro is one of the more versatile portable projectors you can lay your hands on. The compact 1080p resolution projector delivers impressive picture quality with decent contrast and features Android TV to stream movies and tons of other content without having to connect to an external device like a phone or a media player.

What We Like

– Runs Android TV with Chromecast
– Appealing design
– Doubles as Bluetooth speaker

What We Don’t Like

– No card reader
– No USB-Type C

The MoGo Pro works at Full HD with HDR support and also accepts 4K only to downconvert it to the supported resolution. Built-in with dual 3-watt speakers, the MoGo Pro supports both for output and input, meaning the projector can be used as a Bluetooth speaker. The projection from Xgimi’s device is pretty bright thanks to the 300 ANSI lumens of rated brightness. The battery onboard the projector lasts 2 hours while playing video in full brightness and almost 30 mins are increased in energy-saving mode.

Final thought

There is so much variety in the portable projectors currently available. Amid this list of options – or others that didn’t make it – your choice will depend on the requirement and budget. Of importance is also the type of content you want to stream (your need) and the size of the projection image you want.

Then finally you can arrive at a budget for a mini projector. A projector like this may not be a TV alternative in a bright room but in dimmer lighting the image quality is good and its space-saving aesthetics weigh heavier.

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OnePlus Buds Pro are here, should you buy or ditch

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The OnePlus Buds Pro have been finally launched. The company bills it as the “most advanced listening device” in the portfolio that now adds the third set of TWS earbuds. The advanced earbuds have been revealed alongside the OnePlus Nord 2 and there’s enough reason to be excited.

The new pair of buds are a major step up from the OnePlus Buds released last year as OnePlus looks to take on the popular options in the market with features that seem hard to ignore. So, should you jump the gun and buy the Buds Pro or wait for the other options? Let’s delve into the details to help you make a measured decision.

Design and looks

There has been a major design overhaul from the original OnePlus Buds with shorter stems and a horn-like driver casing profile. They get a more modernized aesthetic shape that seems to flow immaculately. This is well complemented by the dual-tone finish with matte plastic for the upper half and a cool shiny metal plating adorning the stems.

The design is definitely distinct from the other options on the market, and so far we love it. The same design language flows to its charging case that now has a lying down flat profile (compared to the original having vertical profile) where the earbuds rest. This also assists in the wireless charging aesthetics of the buds via Qi-certified pads/mats.

Another design feature worth mentioning is the freedom of using silicone replaceable eartips (in three sizes) as compared to the predecessor. This ensures you get a desired secure fit, which in turn helps in blocking out ambient noise for the ANC to work like a charm.

Specs and features

The biggest feature coming to the OnePlus Buds Pro is the smart adaptive noise cancellation. This helps toggle the amount of active noise cancellation being applied depending on the environment. The earbuds have three microphones each for either bud, capable of filtering noise levels almost up to 40dB. A big advantage over fixed level ANC earbuds that have a handful of presets only.

The 11mm dynamic driver delivers a punchy sound and with the Dolby Atmos audio, the earbuds are a pleasure for listening. For those who like the idea of binaural sounds, the earbuds come with the Zen Mode Air feature to play white noise in a jiffy via the headphone settings or the Hey Melody app.

OnePlus Buds Pro have the latest Bluetooth 5.2 for connectivity that promises stable connection and 94ms ultra-low latency Pro Gaming mode. Another highlight is the addition of IP55 water and dust resistance rating making this new accessory perfect for workouts and running as well. Even the charging case gets an IPX4 water resistance rating, which is an added bonus for the outdoorsy.

Battery life and charging

The battery of the OnePlus Buds Pro goes on for seven hours on a single charge without ANC and five hours with ANC enabled. That number can be stretched up to a duration of 28 hours (with ANC) and 38 hours in normal listening mode via the charging case.

Where the earbuds edge slightly ahead of the competition is the fast charging support courtesy of the Warp Charging technology. So we are talking about 10 hours of playback time with just 10-minutes of charging via the USB-C. Add to this the ability to charge the case by placing it on the back of a OnePlus 9 Pro, if you happen to own the phone.

Price and release date

The earbuds are all set to release in Europe on August 25 and in the U.S. and Canada on September 1, 2021. They might just nudge ahead of AirPods 3 or the Samsung Galaxy Buds 2 in terms of the release date, which will be a slight advantage to win over the eager buyers. The OnePlus Buds Pro will come in two color options – white or matte black.

OnePlus Buds Pro will arrive at $149 – a lot more than the OnePlus Buds’ initial price tag of $79. However, they are more feature rich and look absolutely amazing compared to the predecessor. Given they have a nice ANC mode that price tag will be just right for many buyers. Of course, they do undercut the AirPods Pro by a good margin.

Options to consider

Given the number of options, the ones that are most reliable in terms of feature to price ratio have to be AirPods Pro, Beats and LG TONE Free FN7. Depending on what you want from the earbuds, some features you might miss more than others, it is good to have a four-way choice as all of these are interesting in their own right.

If price is a major consideration, the Beats Studio Buds are also a very feasible option depending on what features you value more. As an overall package, LG TONE Free FN7 earbuds are the best bet –given their set of features (bacteria-killing UVnano tech) and the balanced price point.

AirPods Pro brings added features like transparency mode or even a couple of extra microphones, but other than that, they are fairly comparable. OnePlus instead nudges ahead in some comparisons like the battery life, water-resistance rating and Bluetooth connectivity.

You would not want to count out the upcoming Nothing Ear (1) earbuds by Carl Pei, former co-owner OnePlus. The ANC earbuds are aggressively priced at $99 and they also boast impressive features. The niche earbuds is the first product developed by the tech wizard, and it’s already backed by some big names in the audio and tech industry.

Wrap up

It goes without saying, OnePlus has hit the nail on its head with the Buds Pro. The Chinese OEM has a very competitive feature list that’ll appeal to most buyers at the given price. OnePlus has truly made a leap forward from the previous offerings here, and there is no reason audio lovers will not cherish using them. Now that the availability has been announced, the decision to wait for other options like AirPods 3 or Galaxy Buds 2 is dependent on what you really desire.

However, in the current scenario, there is little reason for you to shy away from the Buds Pro. Until they land in our court and we review them thoroughly, the decision will largely depend on how the Buds Pro looks on paper. On paper, the earbuds look exciting, and they should do well in real-life usage too.

For us, they are a definite yes at this point in time. The attractive design sets them apart from the crowd that still follows more or less the same measured design approach.

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iPad mini rumors may have one key detail wrong: Analyst weighs in

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Apple is expected to release an updated iPad mini tablet later this year, one that may feature a mini-LED display. The latter rumor is a contentious one, with multiple claims that are at odds with each other. Only a day after a leak claiming the new model will feature a mini-LED panel, an analyst is stating otherwise.

Yesterday, July 22, a report surfaced at DigiTimes that claimed the next iPad mini model will feature a mini-LED display, building upon rumors that Apple will reveal a sixth-generation iPad mini model this year. Such hopes may have been quickly dashed, however, at least when it comes to the display.

A day later, analyst Ross Young took to Twitter to directly counter the DigiTimes report, saying simply, “No miniLED iPad Mini this year. Digitimes (sic) story was not correct.” Young went on to clarify that his statement referred to an iPad mini model for 2021, noting that he confirmed the details with Apple’s “supposed miniLED supplier.”

The analyst likewise points out that mini-LED displays are reserved for Apple’s high-end products, of which the iPad mini doesn’t qualify. Though this miniature slate has managed to persist through five solid generations, it doesn’t offer the same features as its larger siblings.

The iPad mini — at least in its current 5th-generation iteration — features Touch ID as with the base $329 iPad. Rumors claim the alleged 6th-generation model will feature around the same 7.9-inch display as the current version, likely also retaining Apple Pencil support while adding more powerful hardware.

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