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.
Lime touts a 2020 turnaround and 2021 profitability – TechCrunch
Micromobility company Lime says it has moved beyond the financial hardship caused by the COVID-19 pandemic, reaching a milestone that seemed unthinkable earlier this year.
In short, the company is now largely profitable.
Lime said it was both operating cash flow positive and free cash flow positive in the third quarter — a first — and is on pace to be full-year profitable, excluding certain costs (EBIT), in 2021.
During the WSJ Future of Everything event Thursday, Lime CEO Wayne Ting painted a far rosier picture of the company’s future than one might have expected.
There was a time when Bird and Lime, competing domestic scooter rental companies, were raising capital at a torrid pace, fighting for market share, regulatory breathing room and sidewalk real estate. Then, the pandemic hit and the companies had to take shelter.
Lime underwent a round of layoffs in April, taking on capital from Uber the next month in a down-round that brought its valuation under the $1 billion mark. As it announced in a blog post that TechCrunch reviewed before publication, it paused most of its operations for a month during the early COVID-19 days.
“It was certainly a very, very tough decision for us earlier this year and I know we weren’t the only company during COVID,” Ting said during the event. “I think it’s been in so many ways helpful to us to realize how hard these choices can be. We’re going to be growing headcount again. We’re going to do so in a careful way so that we’re not going have to make hard choices like the ones we made earlier this year.”
Now things are better, Lime says. Much better. Indeed, the company claims that it is the “first new mobility company to reach cash-flow positive for a full quarter.”
Cash flow positivity, in general, is an important threshold for a startup to reach as it implies that the company can largely self-fund from that point forward, limiting its dependency on external cash for survival.
Lime also claims that it “reached EBIT positive at the company level over the summer.” The specifics of the phrase “EBIT positive” are important. Was the company employing strict EBIT on its math and not discounting share-based compensation, or was it measuring using adjusted EBIT as many startups do, removing the cost of share-based compensation that shows up in GAAP results? According to the company the number did exclude share-based compensation, making the news slightly smaller.
Perhaps the most bullish data point from Lime is that it expects to be full-year profitable in 2021. TechCrunch asked for specifics because again how one measures profitability matters. It turns out, Lime is basing this projection on EBIT, as opposed to more traditional net income. For a startup this is not a surprising decision, but before we declare Lime fully “profitable,” we’ll want some more GAAP metrics.
Still, it appears that Lime is not going to die, and is, importantly, putting capital into developing new products. The company provided the first example of that new product pipeline on Thursday with the launch of the Gen4 scooter in Paris. It also teased a so-called “third and fourth mode” in the first quarter of 2021 as well as the addition of a swappable battery.
The scooter company wouldn’t give TechCrunch much information about what these third and fourth modes will be. The first two modes are bikes and scooters, which leaves skateboards, cars, flying cars and boats?
Lime did give TechCrunch a little bit of clarification, stating that “move beyond,” means the company will be operating an additional mode, accessed through the Lime app, in line with its goal to serve any trips under five miles. These modes will build on the Lime Platform play, but this will be operated by Lime rather than a partner.
Lime has long discussed reaching profitability. Perhaps because it and its competitor Bird were infamous for their losses during their early unicorn period.
By November of 2019, Lime was talking about reaching EBIT positivity in 2020. But the start of 2020 was not kind on the company, with 100 of its staff losing their jobs and 12 markets getting dropped. At the time TechCrunch wrote that “Lime is hoping to achieve profitability this year by laying off about 14% of its workforce and ceasing operations in 12 markets,” with the company itself writing at the time that “financial independence [was its] goal for 2020, and [that it was] confident that Lime will be the first next-generation mobility company to reach profitability.”
Depending on how you measure profitability, that could be true.
Things didn’t get easier for Lime later in the year. Its competitor Bird underwent layoffs, and Lime cut more staff in April. At the time, Lime said that it was focused on coming “back stronger than ever when this is over.”
The company is certainly in better shape than it was in April and May. So, how did Lime come back from the brink? In its own estimation, the company took time during its pause to “drill down on getting the business right, narrowing [its] focus and strengthening [its] fundamentals.” That might sound like corporate babble, but by taking a nearly full stop in its operating business, Lime could probably see a bit more clearly what was working and what was not. And with some cuts to what wasn’t, it could set up a future in which its operations were leaner, and more unit-economically positive.
And, now, here we are asking niggling questions about just what sort of profit Lime is really making. Instead of, you know, who might buy its leftover office furniture. It’s a nice turnaround.
Verizon partners with Apple to launch 5G Fleet Swap – TechCrunch
Apple and Verizon today announced a new partnership that will make it easier for their business partners to go all-in on 5G. Fleet Swap, as the program is called, allows businesses to trade in their entire fleet of smartphones — no matter whether they are currently a Verizon customer or not — and move to the iPhone 12 with no upfront cost and either zero cost (for the iPhone 12 mini) or a low monthly cost.
(Disclaimer: Verizon is TechCrunch’s corporate parent. The company has zero input into our editorial decisions.)
In addition, Verizon also today announced its first two major indoor 5G ultra wideband services for its enterprise customers. General Motors and Honeywell are the first customers here, with General Motors enabling the technology at its Detroit-Hamtramck Assembly Center, the company’s all-electric vehicle plant. To some degree, this goes to show how carriers are positioning 5G ultra wideband as more of an enterprise feature than the lower-bandwidth versions of 5G.
“I think about how 5G [ultra wide band] is really filling a need for capacity and for capability. It’s built for industrial commercial use cases. It’s built on millimeter wave spectrum and it’s really built for enterprise,” Verizon Business CEO Tami Erwin told me.
It’s important to note that these two projects are not private 5G networks. Verizon is also in that business and plans to launch those more broadly in the future.
“No matter where you are on your digital transformation journey, the ability to put the power of 5G Ultra Wideband in all of your employees’ hands right now with a powerful iPhone 12 model, the best smartphone for business, is not just an investment for growth, it’s what will set a business’s future trajectory as technology continues to advance,” Erwin said in today’s announcement.
As for 5G Fleet Swap, the idea here is obviously to get more businesses on Verizon’s 5G network and, for Apple, to quickly get more iPhone 12s into the enterprise. Apple clearly believes that 5G can provide some benefits to enterprises — and maybe more so than to consumers — thanks to its low latency for AR applications, for example.
“The iPhone 12 lineup is the best for business, with an all-new design, advanced 5G experience, industry-leading security and A14 Bionic, the fastest chip ever in a smartphone,” said Susan Prescott, Apple’s vice president of Markets, Apps and Services. “Paired with Verizon’s 5G Ultra Wideband going indoors and 5G Fleet Swap, an all-new device offer for enterprise, it’s now easier than ever for businesses to build transformational mobile apps that take advantage of the powerful iPhone 12 lineup and 5G.”
In addition, the company is highlighting the iPhone’s secure enclave as a major security benefit for enterprises. And while other handset manufacturers launch devices that are specifically meant to be rugged, Apple argues that its devices are already rugged enough by design and that there’s a big third-party ecosystem to ruggedize its devices.
Apple will pay $113M to settle 34-state ‘batterygate’ lawsuit – TechCrunch
Apple has agreed to pay $113 million to 34 states and the District of Columbia to settle allegations that it broke consumer protection laws when it systematically downplayed widespread iPhone battery problems in 2016. This is in addition to the half billion the company already paid to consumers over the issue earlier this year and numerous other fines around the world.
The issue, as we’ve reported over the years, was that a new version of iOS was causing older (but not that old) iPhones to shut down unexpectedly, and that an update “fixing” this issue surreptitiously throttled the performance of those devices.
Conspiracy-minded people, which we now know are quite numerous, suspected this was a deliberate degradation of performance in order to spur the purchase of a new phone. This was not the case, but Arizona Attorney General Mike Brnovich, who led the multi-state investigation, showed that Apple was quite aware of the scale of the issue and the shortcomings of its solution.
Brnovich and his fellow AGs alleged that Apple violated various consumer protection laws, such as Arizona’s Consumer Fraud Act, by “misrepresenting and concealing information” regarding the iPhone battery problems and the irreversible negative consequences of the update it issued to fix them.
Apple agreed to a $113M settlement that admits no wrongdoing, to be split among the states however they choose. This is not a fine, like the €25M one from French authorities; if Apple had been liable for statutory penalties those might have reached much, much higher than the amount agreed to today. Arizona’s CFA provides for up to $10,000 per willful violation, and even a fraction of that would have added up very quickly given the amount of people affected.
In addition to the cash settlement, Apple must “provide truthful information to consumers about iPhone battery health, performance, and power management” in various ways. The company already made changes to this effect years ago, but in settlements like this such requirements are included so they can’t just turn around and do it again, though some companies, like Facebook, do it anyway.
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