YouTube quietly added around 100 ad-supported Hollywood movies to its site, beginning last month, according to a new report from AdAge. The titles include a mix of classics like “Rocky” and “The Terminator,” as well as other family fare like “Zookeeper,” “Agent Cody Banks,” and “Legally Blonde,” among others. Before, YouTube had only offered consumers […]
YouTube quietly added around 100 ad-supported Hollywood movies to its site, beginning last month, according to a new report from AdAge. The titles include a mix of classics like “Rocky” and “The Terminator,” as well as other family fare like “Zookeeper,” “Agent Cody Banks,” and “Legally Blonde,” among others.
Before, YouTube had only offered consumers the ability to purchase movies and TV shows, similar to how you can rent or buy content from Apple’s iTunes or Amazon Video.
Currently, YouTube is serving ads on these free movies, but the report said the company is open to working out other deals with advertisers – like sponsorships or exclusive screenings.
YouTube’s advantage in this space, compared with some others, is its sizable user base of 1.9 million monthly active users and its ability to target ads using data from Google .
The addition of a an ad-supported movies marketplace on YouTube follows Roku’s entry into this market, which began last year with the launch of its free collection of movies, called The Roku Channel.
This year, Roku has been expanding the type of content on that channel to also include things like live news from ABC News, Cheddar, Newsmax, Newsy, People TV, Yahoo and The Young Turks, and – more recently – entertainment and live sports.
Walmart also offers its own free movies collection through Vudu, and recently teamed up with MGM on original content for the service. Tubi operates a streaming service with free, ad-supported content, too. And Amazon is rumored to be working on something similar.
Mythical Games is betting user-generated content and intimate ties between players, content creators, brands and developers is the future of entertainment.
Fortnite, the free multi-player survival game, has earned an astonishing $1 billion from in-game virtual purchases alone. Now, others in the gaming industry are experimenting with how they too can capitalize on new trends in gaming.
Mythical Games, a startup out of stealth today with $16 million in Series A funding, is embracing a future in gaming where user-generated content and intimate ties between players, content creators, brands and developers is the norm. Mythical is using its infusion of venture capital to develop a line of PC, mobile and console games on the EOSIO blockchain, which will also be open to developers to build games with “player-owned economies.”
The company says an announcement regarding its initial lineup of games is on the way.
Mythical is led by a group of gaming industry veterans. Its chief executive officer is John Linden, a former studio head at Activision and president of the Niantic-acquired Seismic Games. The rest of its C-suite includes chief compliance officer Jamie Jackson, another former studio head at Activision; chief product officer Stephan Cunningham, a former director of product management at Yahoo; and head of blockchain Rudy Kock, a former senior producer at Blizzard — the Activision subsidiary known for World of Warcraft. Together, the team has worked on games including Call of Duty, Guitar Hero, Marvel Strike Force and Skylanders.
Galaxy Digital’s EOS VC Fund has led the round for Mythical. The $325 million fund, launched earlier this year, is focused on expanding the EOSIO ecosystem via strategic investments in startups building on EOSIO blockchain software. Javelin Venture Partners, Divergence Digital Currency, cryptocurrency exchange OKCoin and others also participated in the round.
It’s no surprise investors are getting excited about the booming gaming business given the success of Epic Games, Twitch, Discord and others in the space.
Epic Games raised a $1.25 billion round late last month thanks to the cultural phenomenon that its game, Fortnite, has become. KKR, Iconiq Capital, Smash Ventures,Vulcan Capital, Kleiner Perkins, Lightspeed Venture Partners and others participated in that round. Discord, a chat application for gamers, raised a $50 million financing in April at a $1.65 billion valuation from Benchmark Capital, Greylock Partners, IVP, Spark Capital and Tencent. And Dapper Labs, best known for the blockchain-based game CryptoKitties, even raised a VC round this year — a $15 million financing led by Venrock, with participation from GV and Samsung NEXT.
In total, VCs have invested $1.8 billion in gaming startups this year, per PitchBook.
Walmart has overtaken Apple to become the No. 3 online retailer in the U.S., according to a report this week from eMarketer. While Amazon still leads by a wide margin, accounting for 48 percent of e-commerce sales in 2018, Walmart – including also Sam’s Club and Jet.com – is poised to capture 4 percent of […]
Walmart has overtaken Apple to become the No. 3 online retailer in the U.S., according to a report this week from eMarketer. While Amazon still leads by a wide margin, accounting for 48 percent of e-commerce sales in 2018, Walmart – including also Sam’s Club and Jet.com – is poised to capture 4 percent of all online retail spending in the U.S. by year-end, totaling $20.91 billion.
The company had beat Wall St.’s expectations in its fiscal third quarter, with $1.08 earnings per share instead of the expected $1.01. However, it fell short on revenue with $124.89 billion versus the $125.55 billion expected, due to currency complications, it said.
eMarketer had estimated in July that Walmart would capture a 3.7 percent e-commerce share in the U.S. this year, but increased that to 4 percent based on its quickly growing online sales.
This year, Walmart’s online sales will grow by 39.4 percent – just slightly behind the growth rate for online furniture and home goods retailer Wayfair, which is expected to see sales grow by 40.1 percent, the firm also noted.
Apple, meanwhile, will grow just over 18 percent in 2018 – a slowdown related to slowing domestic sales for smartphones and other devices. Its portion of the e-commerce market is relatively unchanged from 2017 to 2018, going from 3.8 percent to 3.9 percent.
Walmart, by comparison, is increasing its share from 3.3 percent to 4.0 percent.
But both are behind eBay, now at 7.2 percent. And they’re both vastly outranked by Amazon, which will account for a whopping 48 percent of the U.S. e-commerce market in 2018, up from 43.1 percent last year.
Amazon will take in more than $252.10 billion domestically this year, eMarketer said.
“Walmart’s e-commerce business has been firing on all cylinders lately,” said eMarketer principal analyst Andrew Lipsman, said in a statement. “The retail giant continues to make smart acquisitions to extend its e-commerce portfolio and attract younger and more affluent shoppers. But more than anything, Walmart has caught its stride with a fast-growing online grocery business, which is helped in large part by the massive consumer adoption of click-and-collect.”
New offer brings 12-month membership to Sony’s PlayStation Now service for $79.99, allowing gamers to enjoy a huge catalog of games on their PC and PS4. [ Continue reading this over at RedmondPie.com ]
New offer brings 12-month membership to Sony's PlayStation Now service for $79.99, allowing gamers to enjoy a huge catalog of games on their PC and PS4.
Elon Musk has shot out some crazy, unbelievable tweets over the last year, but he wasn’t joking about the bricks. Musk has started a company called The Brick Store LLC to produce and sell bricks, according to public documents obtained by TechCrunch. The new company, which was founded in July, will be managed by Steve […]
Elon Musk has shot out some crazy, unbelievable tweets over the last year, but he wasn’t joking about the bricks. Musk has started a company called The Brick Store LLC to produce and sell bricks, according to public documents obtained by TechCrunch.
The new company, which was founded in July, will be managed by Steve Davis, the ex-SpaceX engineer who is also running The Boring Company (TBC).
TBC is developing new tunneling and transportation technologies, and the bricks will be made from soil displaced by the company’s tunnel-boring machines. Elon Musk has tweeted that the bricks could cost as little as 10 cents each, and might even be given away to affordable housing projects.
The Brick Store’s first physical outlet will be a far cry from Tesla’s sleek, designer showrooms. Planning documents submitted to Hawthorne, a city in southwestern Los Angeles County, show a rundown stucco building about a mile from TBC and SpaceX’s headquarters. Forbidding black steel security grilles “will be utilized … to accent the entrances and windows,” TBC wrote in its application to repaint the building.
Despite these design flourishes, TBC did not select the building for its aesthetic appeal. The building — formerly housing a kitchen cabinet business — is located above an exit tunnel that TBC is digging to extract the boring machine from its first test tunnel. This is intended to showcase Loop, a proposed underground transportation system carrying people or cars on self-contained electric skates traveling at up to 150 miles per hour.
The tunnel was originally planned to stretch around two miles under public roads from a parking structure next to SpaceX. However, in April this year, TBC used a subsidiary to quietly buy the Hawthorne corner lot, which sits about halfway along the planned route, for $2 million.
In July, TBC asked Hawthorne for permission to use that lot to build an access shaft to extract its tunnel-boring machine, which, because it cannot move backwards, would otherwise have been abandoned at the end of the excavation.
The same month, Musk founded The Brick Store, whose purpose, according to state filings, is the “manufacture and sale of bricks.” TBC has already produced some structures from bricks made from tunnel spoil, and Musk tweeted yesterday that they would be used to build a watchtower at the entrance to the tunnel.
Turning tunnel waste into a valuable commodity fits in with Musk’s environmental leanings — and will save TBC from the cost of disposing all that dirt. TBC has even suggested that the bricks could potentially be used as part of the tunnel lining itself. Musk has previously said that the tunnel would officially open on December 10.
TBC did not immediately respond to requests for comment on this story.
Bricks made from everyday soil, usually called compressed earth blocks (CEB), date back to ancient times. CEBs are still used in developing countries today, and are part of building codes in California and New Mexico. But even there, the market for them is tiny — possibly because CEB buildings can be awkward to build, wire and insulate. BC has even suggested that the bricks could potentially be used as part of the tunnel lining itself.
Dwell Earth sells machines that produce CEBs by applying pressure to a mixture of earth and a little cement.
“Elon seems to have a way of bringing energy and talent to big challenges, and we are happy to see that he may be as excited about [CEBs] as we are,” Dwell Earths founder Bob de Jong told TechCrunch.
TBC received around $112 million from Musk earlier this year. These funds will be used to build a number of tunnels around the country, including a Loop to connect Dodger Stadium to the subway in L.A., one that would link Chicago and O’Hare airport, as well as an ambitious commuter Loop between Washington, D.C. and Maryland.
These projects could be thwarted, or at least delayed, because of an increasingly heated trade war between the U.S. and China.
TBC lawyers wrote to the United States Trade Representative in July that the tariffs imposed by President Trump on Chinese-tunneling machine parts, among other products, would delay its projects by up to two years and mean lost job opportunities. The company asked for an exemption from the tariffs that has not yet been granted.
If there’s anyone who can re-brand dirt and build a market for CEBs, it’s Elon Musk. But even if The Brick Store’s bricks don’t raise enough money for a Mars mission or save the planet, at least they are a little more practical than a novelty “not a flamethrower.”
Berlin-based security researcher has discovered that a Voxox-managed database was discoverable, completely unprotected, and even searchable for identifiable information like names and telephone numbers. [ Continue reading this over at RedmondPie.com ]
Berlin-based security researcher has discovered that a Voxox-managed database was discoverable, completely unprotected, and even searchable for identifiable information like names and telephone numbers.
There are 145 “active unicorns” today worth an aggregate valuation of $555.9 billion. In 2013, there were just 39.
When Aileen Lee, the former Kleiner Perkins partner and founder of the seed-stage venture capital firm Cowboy Ventures, coined the term “unicorn” in 2013 on this very site, there were just 39 companies that had earned the title.
She called them “the lucky/genius few.” Her definition: U.S. software startups launched since 2003 worth more than $1 billion. When she authored the viral post, just four companies were garnering valuations that high each year, according to her calculations. Five years later, the rate at which startups are becoming unicorns has increased 353.1 percent, according to PitchBook’s latest research.
Today, there are 145 “active unicorns” in the U.S. alone, worth an aggregate valuation of $555.9 billion.
Why? A couple of reasons. Namely, because companies are staying private longer and longer, allowing the unicorn count to continue to swell with very few companies transitioning out and into another club — the public markets club. Plus, there is so much capital available in the market, $80.1 billion, to be exact, that late-stage companies are opting for “mini-IPOs” sponsored by SoftBank instead of airing their dirty laundry in an S-1 filing.
There are no signs pointing to a slowdown in new unicorns. The latest data shows that it only took the average U.S. unicorn six years to achieve such status, versus 7.5 years only three years ago. I can think of several examples of companies that did it much faster than that: Brex, Lime and Bird are some recent companies to be worth $1 billion or more in record time.
Valuation step-ups are meatier than ever, too. The median late-stage valuation has increased by 50.7 percent year-over-year. Meanwhile, early-stage and seed-stage median valuations have jumped roughly 28 percent and 12 percent, respectively. Not to mention venture capital investment in 2018 is expected to reach highs not seen since the dot-com boom.
At the end of the day, a startup’s valuation, regardless of how large it is or how quickly it reached the billion-dollar milestone, shouldn’t matter. But these are metrics in which others in the startup ecosystem measure success and they determine the worth of a company — or at least the amount an investor is willing to pay for a piece.
As much as I’d like to do away with the term, even the concept entirely, the proliferation of billion-dollar companies isn’t something I can ignore.
When Equidate, a venture-backed secondaries marketplace based in San Francisco, closed its most recent round of funding with $50 million four months ago, it was hardly a surprising bet on the part of its backers. As startups linger ever longer as private companies, more people are looking to lock up shares wherever they can find […]
When Equidate, a venture-backed secondaries marketplace based in San Francisco, closed its most recent round of funding with $50 million four months ago, it was hardly a surprising bet on the part of its backers. As startups linger ever longer as private companies, more people are looking to lock up shares wherever they can find them.
Investors have plenty of platforms from which to choose. In addition to Equidate, other companies that match investors with “pre-IPO” company shares include EquityZen, SharesPost, and Seedrs. Still, individual investors have mostly been relegated to choosing this or that company on a piecemeal basis as shares have become available. Among few exceptions to this rule include investors in venture funds like 137 Ventures, whose express aim is creating a portfolio of secondary shares that have been acquired from earlier investors, founders, and employees, or in Industry Ventures, which has been buying up later-stage secondary shares since its founding in 2000. (Investing in SoftBank’s Vision Fund, which is piecing together a portfolio of unicorn companies, might be another option for people with enough access, though it comes with certain strings attached.
No wonder Equidate thinks there’s a better way, And with the financial wind at its back, it just began testing out its theory. How? By spinning off a new asset management business whose sole purpose is to acquire shares in the “top” private companies that are currently valued at more than a billion dollars but that still trade privately.
It isn’t going to buy 5 or 20 or 100 stakes. Instead, the portfolio will maintain positions in exactly 30 companies, and these will be adjusted on a quarterly basis, led by the person leading this new spin-off: Ziad Makkawi, a longtime investment advisor who recently spent two years as CEO of Qatar First Bank.
As Equidate founder and President Sohail Prasad see it, his company is already spending time learning an awful lot about Palantir and Stripe and WeWork and Pinterest. It tracks bid and ask activity, along with how pricing and valuations are reflected by both new transactions and time decay. To underscore how much data is coursing through Equidate, he says that company now sees $1 billion in transaction volume on its platform annually.
After a point, he and the rest of Equidate’s management concluded that it made sense tocreate an index to track the health of these companies in a way that makes it easier to understand their performance relative to their peers (it rolled this out yesterday). It also decided to create a product around the index. Enter its new fund and accompanying asset management firm.
“We’re excited,” says Prasad. “This is going to let people buy for the first time a basket of all of these companies, which are vetted and that are already in their growth stages and in, really, in previous years, would have been public already.”
It’s easy to see other investors getting excited about a kind of exchange traded fund filled with unicorns, too. But first things first. The new fund is still being raised, sounds like. It’s looking to close with between $50 million and $100 million in capital. It’s also worth noting that although SEC Chairman Jay Clayton has said he’d like the agency to allow more retail investors a shot at companies that have been out of their reach, Equidate’s new spin-off, Equiam, will still only accept checks from accredited investors, and they need to invest at least $250,000 .
There’s also the prickly question of whether the companies that investors want most are accessible to Equiam. Unsurprisingly, Prasad, argues that it’s not an issue. “Because we’ll be a larger fund, we’ll be able to buy blocks of preferred stock where traditionally a person might not have access. We do have access at this scale.”
As for what Equiam is charging in management fees, the fund is “incredibly low cost,” says Prasad. Investors will have to decide whether they agree, but those who write the fund a $1 million or bigger check will pay a 1.5 percent management fee. Investors who come in at between $250,000 and $1 million will pay a 2.5 percent management fee.
If you’re curious about to learn more, you can learn more by checking out Equiam’s site here.