Dropbox is evolving from a file-storage system to an enterprise software portal, where you can coordinate work with your team. Today the company launches a new version of Dropbox that allows you to launch apps with shortcuts for G Suite and more, plus use built-in Slack message-sending and Zoom video calls. It lets you search across all your files on your device and inside your other enterprise tools, and communicate and comment on your team’s work. Dropbox is also becoming a task manager, with the ability to add notes and tag co-workers in to-do lists attached to files.
The new Dropbox launches today for all of its 13 million business users across 400,000 teams plus its consumer tiers. Users can opt-in here for early access and businesses can turn on early access in their admin panel. “The way we work is broken,” CEO Drew Houston said to cue up the company’s mission statement: “to design a more enlightened way of working.”
Dropbox seems to have realized that file storage by itself is a dying business. With storage prices dropping and any app being able to add their own storage system, it needed to move up the enterprise stack and become a portal that opens and organizes your other tools. Becoming the enterprise coordination layer is a smart strategy, and one that it seems Slack was happy to partner into rather than building itself.
As part of the update, Dropbox is launching a new desktop app for all users so it won’t have to live inside your Mac or Windows file system. When you click a file, you can see a preview and presence data about who has viewed it, who is currently and who has access.
The launch includes deep integrations with Slack, so you can comment on files from within Dropbox, and Zoom, so you can video chat without leaving the workspace. Web and enterprise app shortcuts relieve you from keeping all your other tools constantly open in other tabs. Dropbox’s revamped search tool lets you crawl across your computer’s file system and all your cloud storage across other productivity apps.
But what’s most important about today’s changes is that Dropbox is becoming a task-management app. Each file lets you type out descriptions, to-do lists and tag co-workers to assign them tasks. An Activity Feed per file shows comments and actions from co-workers so you don’t have to collaborate in a separate Google Doc or Slack channel.
When asked about how Dropbox decided who to partner with (Slack, Zoom) versus who to copy (Asana), VP of biz dev Billy Blau essentially dodged the question while citing the “shared ethos” of Dropbox’s partners.
Houston kicked off the San Francisco launch event by pointing out that it’s easier to find info from the public than our own company’s knowledge that’s scattered across our computers and the cloud. The “Finder” on our computers hasn’t evolved to embrace a post-download era. He described how people spend 60% of our office time on work about work, like organization and communication, instead of actually working — a marketing angle frequently used by task-management startup Asana that Dropbox is now competing with more directly. “We’re going to help you get a handle on all this ‘work about work,’ ” Dropbox writes. Yet Asana has been using that phrase as a core of its messaging since 2013.
Now Dropbox wants to be your file tree, your finder and your desktop for the cloud. The question is whether files are always the central unit of work that comments and tasks should be pegged to, or whether it should be the task and project at the center of attention with files attached.
It will take some savvy onboarding and persistence to retrain teams to see Dropbox as their workspace instead of their computer’s desktop or their browser. But if it can become the identity and collaboration layer that connects the fragmented enterprise software, it could outlive file storage and stay relevant as new office tools emerge.
OnePlus recruits Hasselblad for three-year smartphone imaging deal – TechCrunch
Imaging has long been the primary battlefield on which the smartphone battles are waged. It makes sense. The thing about smartphones in 2021 is that they’re mostly very good. Sure, there are differentiators, but if you spend a decent amount on a device from any major manufacturer, you’re probably going to get a pretty good device.
But there’s still plenty of opportunity to continually bridge the gap between smartphone imaging and devoted camera systems. And today OnePlus takes a potentially key step in that direction by announcing a partnership with Hasselblad. The DJI-owned Swedish camera maker has signed onto a three-year partnership with OnePlus.
According to a release tied to the news, the pair plan to spend $150 million over the course of the deal, in an attempt to vault OnePlus to the front of the pack. Hasselblad has dipped its toes in the mobile market, including a Moto Z attachment, and has created cameras for DJI drones, but this represents a pretty big move for the 180-year-old camera company.
The first fruits of the partnership will arrive on the OnePlus 9, a new handset set to launch on March 23. The companies promise a “revamped camera system.” The phone will feature a Sony IMX789 sensor, coupled with HDR video and the ability capture 4K at 120FPS and 8K at 30FPS.
Per the release:
The partnership will continuously develop over the next three years, starting with software improvements including color tuning and sensor calibration, and extending to more dimensions in the future. The two parties will jointly define the technology standards of the mobile camera experience and develop innovative imaging technologies, continuing to improve the Hasselblad Camera for Mobile. Both companies are committed to delivering immediate benefit for OnePlus users, while continuously collaborating to further improve the user experience and quality for the long-term.
The deal includes the development of four global labs, including U.S. and Japan locations and:
Pioneering new areas of smartphone imaging technology for future OnePlus camera systems, such as a panoramic camera with a 140-degree field of view, T-lens technology for lightning-fast focus in the front-facing camera, and a freeform lens – to be first introduced on the OnePlus 9 Series – that practically eliminates edge distortion in ultrawide photos.
It will be interesting to see how a company like Hasselblad will take to mobile imaging, though such a deal could be a secret weapon as OnePlus looks to keep on the flagship end of the mobile spectrum against the likes of Apple and Samsung.
Snapcommerce raises $85M to make over your mobile shopping experience – TechCrunch
People are not only shopping digitally more than ever. They’re also shopping using their mobile phones more than ever.
And for mobile-first companies like Snapcommerce, this is good news.
Snapcommerce, formerly known as SnapTravel, has raised $85 million in what the company is describing as a “Pre-IPO” growth round to help further its mission of “changing the way people shop on their phones.”
The Toronto, Ontario-based startup has built out an AI-driven, vertical-agnostic platform that uses messaging in an effort to personalize the mobile shopping experience and “deliver the best promotional prices.” While it was initially focused on the travel industry, the company is now branching out into other consumer verticals – hence its name change.
Inovia Capital and Lion Capital co-led the new growth round, which included participation from Acrew DCF, Thayer Ventures, Full In Partners as well as existing backers Telstra Ventures and Bee Partners. The financing brings Snapcommerce’s total raised since its 2016 inception to over $100 million. Its last raise — a $7.2 million round from Telstra and NBA star Steph Curry — took place in 2019.
The startup was founded by tech entrepreneurs Hussein Fazal, whose prior company AdParlor grew to $100+ million in revenue, then sold to AdKnowledge back in 2011; and Henry Shi, who previously built uMentioned and worked at Google, where he helped launch YouTube Music Insights, according to previous TechCrunch reporting.
Snapcommerce launched its first, travel-focused product in 2017. It works by using chatbots to interact with customers via messaging apps such as SMS, Facebook and Whatsapp. But the company also has human agents ready to help if people need more assistance, in the past essentially serving as on-demand travel agents.
Its service is not just for hotels and flights, but also to help people book restaurants and activities too.
“Our focus has been on building that personal relationship,” Fazal said. “Many people end up coming back to us when they travel again.” In fact, over 40% of its sales in 2020 came from repeat customers.
Over the years, the company claims to have helped more than 10 million users globally save over $75 million. It expects to cross over $1 billion in total mobile sales this year.
And now it’s ready to branch out into helping consumers save money on goods.
“When shopping, it’s hard to find the right product and even if you do, it’s hard to find a good deal,” he said. “On a desktop, there’s ways around it. But on mobile, it’s virtually impossible.”
The company turned the corner to profitability three months into the pandemic in 2020, seeing a 60% spike in sales in the second half of the year compared to H2 2019, according to CEO Fazal.
It then decided to re-invest its profits to continue growing the business.
“The profitability during the pandemic gave us confidence that we could turn to profitability whenever we needed to and gave us control of our own destiny, which enabled this fundraise,” Fazal told TechCrunch. “The third quarter of 2020 ended up being our greatest quarter ever.”
The COVID-19 pandemic, naturally, only accelerated its growth as more consumers turned to mobile.
“We believe the next wave of power purchasers will be via mobile,” Fazal said. “Some of the new generation don’t even have desktops or laptops, and they spend all their time on their mobile phone and messaging. So we’re able to be at the forefront.”
Snapcommerce has an IPO in its sights although no specific timeline. The company did not reveal its current valuation or hard revenue figures. The company makes money by either marking up prices provided by a merchant or charging the merchant a commission.
Chris Arsenault, partner at Inovia and Snapcommerce lead investor, said his firm “tripled up” on its investment in the startup after witnessing its success in the travel space.
“Other companies out there only care about the transaction, and force consumers to look through several services to see if they got the best price, all the while telling them ‘there’s only 2 seats left,’ ” he told TechCrunch. “We believe that consumers aren’t going to accept that type of pressure-selling in the future. And Snapcommerce’s ability to build trust with its customers and service providers has attracted us to them as they are defining what the future of commerce is going to be like.”
Ultimately, the company plans to use its fresh capital to continue to scale with the goal of streamlining the entire mobile search, purchase and fulfillment process and make finding “the right item at the right price as sending a message to a trusted friend.”
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Square buys majority of Tidal, adds Jay Z to its board in bid to shake up the artist economy – TechCrunch
This morning Square, a fintech company that serves both individuals and companies, announced that it has purchased a majority stake in Tidal, a music streaming service. The deal, worth some $297 million, will Tidal allow artist-partners to keep their ownership in the music company.
Square CEO Jack Dorsey used his other company, Twitter, this morning to explain the deal. Dorsey seemed to expect the transaction to generate skepticism – which it definitely has. In his opening message, he asked a rhetorical question: “Why would a music streaming company and a financial services company join forces?!”
Why indeed. Dorsey’s expectation is that his company can replicate the success of Cash App and other Square products in the world of music. Noting that “new ideas are found at the intersection,” Dorsey argued that the confluence of “music and the economy” is one such point of convergence.
The deal also installs musician and businessperson Jay Z on Square’s board.
Some early reaction to the deal has proved negative. It’s not hard to riff on the seeming-strangeness of Square and Tidal as a pair. And Square has made acquisitions in the past that appeared adjacent and failed to stick. The company bought food-delivery service Caviar in 2014 before selling it to DoorDash in 2019, for example; that Square appears to have made a venture-level return on the transaction is immaterial to the focus argument.
But the bull-case for the Square-Tidal tie-up is easy to make as well. The American fintech just spent a minute fraction of a single percent of its market capitalization on the smaller company, and through its choice to let artists keep their stake, has effectively onboarded a host of ambassadors for its brand.
And Dorsey is not wrong that Square did shake up the commerce game for many offline businesses with its original card reader. Why not take a swing at a part of the economy — music — that has migrated from the physical world to the digital in the past few years, much like small businesses in recent quarters?
Square’s business users, it’s “seller ecosystem,” as it likes to call it, are increasingly digital. In its most recent quarterly earnings report, “in-person only” usage is falling as a percentage of seller gross payment volume (GPV), while “online only” and “omnichannel” GPV are taking up the slack.
Square has a known win in its consumer-focused Cash App service, which reached 36 million monthly actives in December of 2020, up from 24 million in the same period one year prior. You can imagine tie-ups between the music company and the youth-skewing Cash App audience. And having Jay Z at the Square boardroom table will hardly make the company less innovative; he may bring fresh perspective.
And then there’s the question of NFTs, or non-fungible tokens, a new form of digital asset that have recently become the cause célèbre of the cryptocurrency community. Given that Square has a growing cryptocurrency business via Cash App, and has invested hundreds of millions of dollars into bitcoin itself. If there is space in the market for Square to bring music-based NFTs to its larger consumer user base is an interesting question. If the answer is yes, Square could now be in a leading position to create that market.
Perhaps the Square-Tidal deal won’t generate the future growth that Square imagines. But the deal is cheap, snagging Jay Z as a leader is a win, and it’s hard to win by only playing corporate defense.
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