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

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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.”



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Mobile game spending hits record $1.7B per week in Q1 2021, up 40% from pre-pandemic levels – TechCrunch

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The COVID-19 pandemic drove increased demand for mobile gaming, as consumers under lockdowns looked to online sources of entertainment, including games. But even as COVID-19 restrictions are easing up, the demand for mobile gaming isn’t slowing. According to a new report from mobile data and analytics provider App Annie in collaboration with IDC, users worldwide downloaded 30% more games in the first quarter of 2021 than in the fourth quarter of 2019, and spent a record-breaking $1.7 billion per week in mobile games in Q1 2021.

That figure is up 40% from pre-pandemic levels, the report noted.

Image Credits: App Annie

The U.S. and Germany led other markets in terms of growth in mobile game spending year-over-year as of Q1 2021 in the North American and Western European markets, respectively. Saudi Arabia and Turkey led the growth in the rest of the world, outside the Asia-Pacific region. The latter made up around half of the mobile game spend in the quarter, App Annie said.

The growth in mobile gaming, in part accelerated by the pandemic, also sees mobile further outpacing other forms of digital games consumption. This year, mobile gaming will increase its global lead over PC and Mac gaming to 2.9x and will extend its lead over home games consoles to 3.1x.

Image Credits: App Annie

However, this change comes at a time when the mobile and console market is continuing to merge, App Annie notes, as more mobile devices are capable of offering console-like graphics and gameplay experiences, including those with cross-platform capabilities and social gaming features.

Games with real-time online features tend to dominate the Top Grossing charts on the app stores, including things like player-vs-player and cross-play features. For example, the top grossing mobile game worldwide on iOS and Google Play in Q1 2021 was Roblox. This was followed by Genshin Impact, which just won an Apple Design Award during the Worldwide Developer Conference for its visual experience.

Image Credits: App Annie

The report also analyzed the ad market around gaming and the growth of mobile companion apps for game consoles, including My Nintendo, Xbox Game Pass, PlayStation App, Steam, Nintendo Switch and Xbox apps. Downloads for these apps peaked under lockdowns in April 2020 in the U.S., but continue to see stronger downloads than pre-pandemic.

Image Credits: App Annie

On the advertising front, App Annie says user sentiment toward in-game mobile ads improved in Q3 2020 compared with Q3 2019, but rewarded video ads and playable ads were preferred in the U.S.

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Apple Podcasts Subscriptions go live worldwide – TechCrunch

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Apple Podcasts Subscriptions are now live across more than 170 countries and regions, Apple announced this morning. First unveiled this spring, subscriptions allow listeners to unlock additional benefits for their favorite podcasts, including things like ad-free listening, early access to new episodes, bonus material, exclusives or whatever else the podcast creator believes will be something their fans will pay for. Channels allow podcasters to group their shows however they like — for instance, to highlight a set of shows with a shared theme, or to offer different mixes of free and paid content.

The new subscription features were initially set to arrive in May, but Apple later emailed creators that the launch was being pushed to June. This was likely due to a series of back-end issues impacting the service, including things like delayed episodes and malfunctioning analytics, among other things.

At launch, Apple says there are thousands of subscriptions and channels available, with more expected to arrive on a weekly basis.

When listeners purchase a subscription to a show, they’ll automatically follow the show in the redesigned Apple Podcasts app. The show’s page will also be updated with a Subscriber Edition label, so they’ll be able to more easily tell if they have access to the premium experience.

The app’s Listen Now tab will expand with new rows that provide access to paid subscriptions, including their available channels.

In the app, users can discover channels from show pages and through Search, browse through recommendations from the Listen Now and Browse tabs, and share channels with friends through Messages, Mail and other apps.

Apple’s delay to invest in the Podcasts market has given its rivals a head start on growing their own audience for podcasts. At the time of the spring announcement of subscriptions, for example, an industry report suggested that Spotify’s podcast listeners would top Apple’s for the first time in 2021.

Despite the competition, Apple is betting its massive install base will bring in creators. Those creators agree to pay Apple a 30% cut of their subscription revenue in year one, just like subscription-based iOS apps. That cut drops to 15% in year two. Spotify, by comparison, is taking no revenue cut for the next two years while its program gets off the ground. It will then take only a 5% fee.

Based on the debut lineup, it seems many creators and studios believe Apple’s footprint is worth the larger revenue share.

Early adopters of subscriptions include notable names like Lemonada Media, Luminary, Realm and Wondery; media and entertainment brands, including CNN, NPR, The Washington Post and Sony Music Entertainment.

Other studio participants include Audio Up, Betches Media, Blue Wire, Campside Media, Imperative Entertainment, Lantigua Williams & Co., Magnificent Noise, The Moth, Neon Hum Media, Three Uncanny Four, Wondery, Audacy’s Cadence13 and Ramble, Barstool Sports, Jake Brennan’s Double Elvis, Headgum, iHeartMedia’s The Black Effect, Big Money Players, Grim & Mild, Seneca Women, Shondaland, Relay FM, Tenderfoot TV, Radiotopia from PRX, Pushkin Industries, QCODE and others,

Image Credits: Apple

In the news category, there’s also The Athletic, Fox News, Los Angeles Times, Bloomberg Media, Politico and Vox Media, plus channels from other newspapers, magazines, broadcasters, radio stations and digital publishers, including ABC News, Axios, Billboard, Bravo, CNBC, CNN, Crooked Media, Dateline, Entertainment Weekly, Futuro Media, The Hollywood Reporter, LAist Studios, National Geographic, MSNBC, NBC News, NBC Sports, New York Magazine, The New York Times, SiriusXM, SB Nation, Southern Living, The Verge, TODAY, VICE, Vogue, Vox and WBUR.

Kids’ podcasts are also available, including those from GBH, Gen-Z Media, Pinna, Wonkybot Studios, TRAX from PRX and others.

Apple also highlighted independent creators offering subscriptions like “Birthful” with Adriana Lozada, “Pantsuit Politics” with Beth Silvers and Sarah Stewart Holland, “Snap Judgment” with Glynn Washington and “You Had Me At Black” with Martina Abrams Ilunga.

Image Credits: Apple

Meanwhile, international subscriptions and channels are being offered from ABC, LiSTNR and SBS from Australia; Abrace Podcasts from Brazil; CANADALAND and Frequency Podcast Network from Canada; GoLittle from Denmark; Europe 1, Louie Media, and Radio France from France; Der Spiegel, Podimo, and ZEIT ONLINE from Germany; Il Sole 24 Ore and Storielibere.fm from Italy; J-WAVE from Japan; Brainrich from Korea; libo/libo from Russia; Finyal Media from the UAE; and Broccoli Productions, The Bugle, Content Is Queen, the Guardian, Immediate Media, and Somethin’ Else from the U.K.

Subscriptions start at $0.49 U.S. per month and go up, with some popular shows priced at $2.99 per month and some channels, like Luminary, at $4.99 per month, to give you an idea of pricing. Apple Card users get a 3% cash back on their subscriptions, which can be viewed in Apple Wallet.

Once subscribed, you can listen across Apple devices, including iPhone, iPad, Mac, Apple Watch, Apple TV, CarPlay, HomePod and HomePod mini.

Subscriptions were announced alongside a redesigned version of the Apple Podcasts app, which has received a number of usability complaints and sent some users in search of third-party apps. Apple has been responding to user feedback and addressed some issues in the iOS 14.6 update with other Library tab updates planned to arrive in future releases, perhaps iOS 14.7.

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UK’s CMA opens market study into Apple, Google’s mobile “duopoly” – TechCrunch

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The UK’s competition watchdog will take a deep dive look into Apple and Google’s dominance of the mobile ecosystem, it said today — announcing a market study which will examine the pair’s respective smartphone platforms (iOS and Android); their app stores (App Store and Play Store); and web browsers (Safari and Chrome). 

The Competition and Markets Authority (CMA) is concerned that the mobile platform giants’ “effective duopoly” in those areas  might be harming consumers, it added.

The study will be wide ranging, with the watchdog concerns about the nested gateways that are created as a result of the pair’s dominance of mobile ecosystem — intermediating how consumers can access a variety of products, content and services (such as music, TV and video streaming; fitness tracking, shopping and banking, to cite some of the examples provided by the CMA).

“These products also include other technology and devices such as smart speakers, smart watches, home security and lighting (which mobiles can connect to and control),” it went on, adding that it’s looking into whether their dominance of these pipes is “stifling competition across a range of digital markets”, saying too that it’s “concerned this could lead to reduced innovation across the sector and consumers paying higher prices for devices and apps, or for other goods and services due to higher advertising prices”.

The CMA further confirmed the deep dive will examine “any effects” of the pair’s market power over other businesses — giving the example of app developers who rely on Apple or Google to market their products to customers via their smart devices.

The watchdog already has an open investigation into Apple’s App Store, following a number of antitrust complaints by developers.

It is investigating Google’s planned depreciation of third party tracking cookies too, after complaints by adtech companies and publishers that the move could harm competition. (And just last week the CMA said it was minded to accept a series of concessions offered by Google that would enable the regulator to stop it turning off support for cookies entirely if it believes the move will harm competition.)

The CMA said both those existing investigations are examining issues that fall within the scope of the new mobile ecosystem market study but that its work on the latter will be “much broader”.

It added that it will adopt a joined-up approach across all related cases — “to ensure the best outcomes for consumers and other businesses”.

It’s giving itself a full year to examine Gapple’s mobile ecosystems.

It is also soliciting feedback on any of the issues raised in its statement of scope — calling for responses by 26 July. The CMA added that it’s also keen to hear from app developers, via its questionnaire, by the same date.

Taking on tech giants

The watchdog has previously scrutinized the digital advertising market — and found plenty to be concerned about vis-a-vis Google’s dominance there.

That earlier market study has been feeding the UK government’s plan to reform competition rules to take account of the market-deforming power of digital giants. And the CMA suggested the new market study, examining ‘Gapple’s’ mobile muscle, could similarly help shape UK-wide competition law reforms.

Last year the UK announced its plan to set up a “pro-competition” regime for regulating Internet platforms — including by establishing a dedicated Digital Markets Unit within the CMA (which got going earlier this year).

The legislation for the reform has not yet been put before parliament but the government has said it wants the competition regulator to be able to “proactively shape platforms’ behavior” to avoid harmful behavior before it happens” — saying too that it supports enabling ex ante interventions once a platform has been identified to have so-called “strategic market status”.

Germany already adopted similar reforms to its competition law (early this year), which enable proactive interventions to tackle large digital platforms with what is described as “paramount significance for competition across markets”. And its Federal Cartel Office has, in recent months, wasted no time in opening a number of proceedings to determine whether Amazon, Google and Facebook have such a status.

The CMA also sounds keen to get going to tackle Internet gatekeepers.

Commenting in a statement, CEO Andrea Coscelli said:

“Apple and Google control the major gateways through which people download apps or browse the web on their mobiles – whether they want to shop, play games, stream music or watch TV. We’re looking into whether this could be creating problems for consumers and the businesses that want to reach people through their phones.

“Our ongoing work into big tech has already uncovered some worrying trends and we know consumers and businesses could be harmed if they go unchecked. That’s why we’re pressing on with launching this study now, while we are setting up the new Digital Markets Unit, so we can hit the ground running by using the results of this work to shape future plans.”

The European Union also unveiled its own proposals for clipping the wings of big tech last year — presenting its Digital Markets Act plan in December which will apply a single set of operational rules to so-called “gatekeeper” platforms operating across the EU.

The clear trend in Europe on digital competition is toward increasing oversight and regulation of the largest platforms — in the hopes that antitrust authorities can impose measures that will help smaller players thrive.

Critics might say that’s just playing into the tech giants’ hands, though — because it’s fiddling around the edges when more radical intervention (break ups) are what’s really needed to reboot captured markets.

Apple and Google were contacted for comment on the CMA’s market study.

A Google spokesperson said: “Android provides people with more choice than any other mobile platform in deciding which apps they use, and enables thousands of developers and manufacturers to build successful businesses. We welcome the CMA’s efforts to understand the details and differences between platforms before designing new rules.”

According to Google, the Android App Economy generated £2.8BN in revenue for UK developers last year, which it claims supported 240,000 jobs across the country — citing a Public First report that it commissioned.

The tech giant also pointed to operational changes it has already made in Europe, following antitrust interventions by the European Commission — such as adding a choice screen to Android where users can pick from a list of alternative search engines.

Earlier this month it agreed to shift the format underlying that choice screen from an unpopular auction model to free participation.

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