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Startups Weekly: Peloton’s 29 secret weapons

Published August 31, 2019

Hello and welcome back to Startups Weekly, a weekend newsletter that dives into the week’s noteworthy startups and venture capital news. Before I jump into today’s topic, let’s catch up a bit. Last week, I wrote about a new e-commerce startup, Pietra. Before that, I wrote about the flurry of IPO filings.

Remember, you can send me tips, suggestions and feedback to kate.clark@techcrunch.com or on Twitter @KateClarkTweets. If you don’t subscribe to Startups Weekly yet, you can do that here.

What’s new?

Peloton revealed its S-1 this week, taking a big step toward an IPO expected later this year. The filing was packed with interesting tidbits, including that the company, which manufacturers internet-connected stationary bikes and sells an affiliated subscription to its growing library of on-demand fitness content, is raking in more than $900 million in annual revenue. Sure, it’s not profitable, and it’s losing an increasing amount of money to sales and marketing efforts, but for a company that many people wrote off from the very beginning, it’s an impressive feat.

Despite being a hardware, media, interactive software, product design, social connection, apparel and logistics company, according to its S-1, the future of Peloton relies on its talent. Not the employees developing the bikes and software but the 29 instructors teaching its digital fitness courses. Ally Love, Alex Toussaint and the 27 other teachers have developed cult followings, fans who will happily pay Peloton’s steep $39 per month content subscription to get their daily dose of Ben or Christine.

“To create Peloton, we needed to build what we believed to be the best indoor bike on the market, recruit the best instructors in the world, and engineer a state-of-the-art software platform to tie it all together,” founder and CEO John Foley writes in the IPO prospectus. “Against prevailing conventional wisdom, and despite countless investor conference rooms full of very smart skeptics, we were determined for Peloton to build a vertically integrated platform to deliver a seamless end-to-end experience as physically rewarding and addictive as attending a live, in-studio class.”

Peloton succeeded in poaching the best of the best. The question is, can they keep them? Will competition in the fast-growing fitness technology sector swoop in and scoop Peloton’s stars?

In other news

Last week I published a long feature on the state of seed investing in the Bay Area. The TL;DR? Mega-funds are increasingly battling seed-stage investors for access to the hottest companies. As a result, seed investors are getting a little more creative about how they source deals. It’s a dog-eat-dog world out there, and everyone wants a stake in The Next Big Thing. Read the story here.

Rounds of the week

Time to Disrupt

Don’t miss out on our flagship Disrupt, which takes place October 2-4. It’s the quintessential tech conference for anyone focused on early-stage startups. Join more than 10,000 attendees — including over 1,200 exhibiting startups — for three jam-packed days of programming. We’re talking four different stages with interactive workshops, Q&A sessions and interviews with some of the industry’s top tech titans, founders, investors, movers and shakers. Check out our list of speakers and the Disrupt agenda. I will be there interviewing a bunch of tech leaders, including Bastian Lehmann and Charles Hudson. Buy tickets here.

Listen

This week on Equity, TechCrunch’s venture capital-focused podcast, we had Floodgate’s Iris Choi on to discuss Peloton’s upcoming IPO. You can listen to it here. Equity drops every Friday at 6:00 am PT, so subscribe to us on Apple Podcasts, Overcast and Spotify.

Learn

We published a number of new deep dives on Extra Crunch, our paid subscription product, this week. Here’s a quick look at the top stories:

How Pivotal got bailed out by fellow Dell family member, VMware by Ron Miller
How to use Amazon and advertising to build a D2C startup by Matt Altman and Tyler Elliston
Customer success isn’t an add-on — Start early to win later. By Dale Chang and Jay Nathan.

Every TC Sessions: Enterprise 2019 ticket includes a free pass to Disrupt SF

Published August 14, 2019

Shout out to all the savvy enterprise software startuppers. Here’s a quick, two-part money-saving reminder. Part one: TC Sessions: Enterprise 2019 is right around the corner on September 5, and you have only two days left to buy an early-bird ticket and save yourself $100. Part two: for every Session ticket you buy, you get one free Expo-only pass to TechCrunch Disrupt SF 2019.

Save money and increase your ROI by completing one simple task: buy your early-bird ticket today.

About 1,000 members of enterprise software’s powerhouse community will join us for a full day dedicated to exploring the current and future state of enterprise software. It’s certainly tech’s 800-pound gorilla — a $500 billion industry. Some of the biggest names and brightest minds will be on hand to discuss critical issues all players face — from early-stage startups to multinational conglomerates.

The day’s agenda features panel discussions, main-stage talks, break-out sessions and speaker Q&As on hot topics including intelligent marketing automation, the cloud, data security, AI and quantum computing, just to name a few. You’ll hear from people like SAP CEO Bill McDermott; Aaron Levie, Box co-founder; Jim Clarke, director of Quantum Hardware at Intel and many, many more.

Customer experience is always a hot topic, so be sure to catch this main-stage panel discussion with Amit Ahuja (Adobe), Julie Larson-Green (Qualtrics) and Peter Reinhardt (Segment):

The Trials and Tribulations of Experience Management: As companies gather more data about their customers and employees, it should theoretically improve their experience, but myriad challenges face companies as they try to pull together information from a variety of vendors across disparate systems, both in the cloud and on prem. How do you pull together a coherent picture of your customers, while respecting their privacy and overcoming the technical challenges?

TC Sessions: Enterprise 2019 takes place in San Francisco on September 5. Take advantage of this two-part money-saving opportunity. Buy your early-bird ticket by August 16 at 11:59 p.m. (PT) to save $100. And score a free Expo-only pass to TechCrunch Disrupt SF 2019 for every ticket you buy. We can’t wait to see you in September!

Interested in sponsoring TC Sessions: Enterprise? Fill out this form and a member of our sales team will contact you.

Axios’ Dan Primack on ‘the most polarizing startup that exists’

Published August 13, 2019

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines.

This week was a bit special. Instead of meeting up at the TechCrunch HQ to record the episode, Kate and Alex met up in muggy Boston at Drift’s office, where we linked up with Axios’s Dan Primack. And because we were feeling chatty, we went a bit long.

After checking in with Primack (he has a newsletter and a podcast), we first dealt with the latest from Tumblr. In short, Verizon Media is selling Tumblr to Automattic for a few dollars. How did Verizon wind up owning Tumblr? Ah. Well, Yahoo bought it. Later, after Verizon bought AOL, it bought Yahoo. Then it smushed them together and called it Oath. Then Verizon decided that it didn’t like that much and renamed the group Verizon Media. But Verizon doesn’t want to own media (besides TechCrunch, of course), so it sold Tumblr to Automattic, a venture-backed company best known for operating WordPress.

That’s a lot, I know. What matters is that Yahoo bought Tumblr for more than $1 billion. Verizon sold it for around $3 million. Now, Automattic has a few hundred new employees and a shot at juicing its user base before it goes public.

After that, we lamented that the WeWork S-1 had yet to appear. This was a tragedy, frankly. We had expected to spend half the show riffing on WeWork’s financials, alas…

So we turned to some normal material, like Ramp’s recent $7 million raise to take on Brex, and, SmartNews’s recent round, which gave it an eye-popping $1.1 billion valuation.

We ran a bit long because we were having fun, fitting in some conversation surrounding the notes from the SEC regarding the now-dead and then-fraudulent Rothenberg Ventures. More on that here if you want to get angry.

And finally, Vision Fund 2. It’s been a big source of interest for everyone on the show, and we expect whatever the second-act Vision Fund winds up becoming to be a big damn deal. The fund will invest in more than just consumer marketplaces; in fact, it’s eyeing more AI businesses and even biotech. That should be interesting.

All that and we have a lot more good stuff coming. Thanks for listening to the show, and we’ll be right back.

Equity drops every Friday at 6:00 am PT, so subscribe to us on Apple Podcasts, Overcast, Pocket Casts, Downcast and all the casts.

Google is shutting down its Trips app

Published August 5, 2019

Google is shutting down its Trips app for mobile phones, but is incorporating much of the functionality from the service into its Maps app and Search features, according to a statement from the company.

Support for the Trips app ends today, but information like notes and saved places will be available in Search as long as a user signs into their Google account.

To find attractions, events and popular places in a geography, users can search for “my trips” or go to the new-and-improved Travel page in Google.

Google announced changes to their Travel site in September 2018, which included many of the features that had been broken out into the Trips app. So now the focus will be on driving users back to Travel and to include more of the functionality in Google’s dominant mapping and navigation app.

Google launches new travel-planning tools

Soon users will be able to add and edit notes from Google Trips in the Travel section on a browser and find saved attractions, flights and hotels for upcoming and past trips.

In Maps, searching a destination or finding specific iconic places, guide lists, events or restaurants can be done by swiping up on the “Explore” tab in the app.

Tapping the menu icon will now take users to places they’ve saved under the “Your Places” section. And soon the maps app will also include upcoming reservations organized by trip and those reservations will be available offline so a user won’t need to download them.

Buy a demo table at TC Sessions: Enterprise 2019

Published July 23, 2019

Early-stage enterprise startup founders listen up. That sound you hear is opportunity knocking. Answer the call, open the door and join us for TC Sessions: Enterprise on September 5 in San Francisco. Our day-long conference not only explores the promises and challenges of this $500 billion market, it also provides an opportunity for unparalleled exposure.

How’s that? Buy a Startup Demo Package and showcase your genius to more than 1,000 of the most influential enterprise founders, investors, movers and shakers. This event features the enterprise software world’s heaviest hitters. People like SAP CEO Bill McDermott; Aaron Levie, Box co-founder, chairman and CEO; and George Brady, executive VP in charge of technology operations at Capital One.

Demo tables are reserved for startups with less than $3 million, cost $2,000 and include four tickets to the event. We have a limited number of demo tables available, so don’t wait to introduce your startup to this very targeted audience.

The entire day is a full-on deep dive into the big challenges, hot topics and potential promise facing enterprise companies today. Forget the hype. TechCrunch editors will interview founders and leaders — established and emerging — on topics ranging from intelligent marketing automation and the cloud to machine learning and AI. You’ll hear from VCs about where they’re directing their enterprise investments.

Speaking of investors and hot topics, Jocelyn Goldfein, a managing director at Zetta Venture Partners, will join TechCrunch editors and other panelists for a discussion about the growing role of AI in enterprise software.

Check out our growing (and amazing, if we do say so ourselves) roster of speakers.

Our early-bird pricing is still in play, which means tickets cost $249 and students pay only $75. Plus, for every TC Sessions: Enterprise ticket you buy, we’ll register you for a complimentary Expo Only pass to TechCrunch Disrupt SF on October 2-4.

TC Sessions: Enterprise takes place September 5 at San Francisco’s Yerba Buena Center for the Arts. Buy a Startup Demo Package, open the door to opportunity and place your early-stage enterprise startup directly in the path of influential enterprise software founders, investors and technologists.

Looking for sponsorship opportunities? Contact our TechCrunch team to learn about the benefits associated with sponsoring TC Sessions: Enterprise 2019.

Final ticket release to the 14th Annual TechCrunch Summer Party

Published July 16, 2019

One of Silicon Valley’s most fun and enduring traditions — the 14th Annual TechCrunch Summer Party — takes place on July 25. If you don’t have a ticket yet, know this: We just released the last batch of tickets. Once they’re gone, that’s it. No party for you. Don’t miss out on a night of fun and opportunity — buy your ticket today.

The Park Chalet, San Francisco’s coastal beer garden, provides a picturesque setting (ocean views anyone?) for a casual evening celebrating the early-startup spirit. Hang out and enjoy local craft beer, cocktails, delicious food and great conversation with other fearless tech entrepreneurs.

TechCrunch parties provide a relaxed way to connect and network, and they’re known as a place where startup magic happens. Who knows? You might meet your future co-founder or funder. Aaron Levie and Dylan Smith, founders of Box, met one of their first investors at a TechCrunch party.

It shouldn’t be too difficult to chat up an investor since our lead VC partner, Merus Capital, will be in the house, along with August Capital, Battery Ventures, Cowboy Ventures, Data Collective, General Catalyst and Uncork Capital.

No TechCrunch event would be complete without exciting startups showcasing their tech and talent.

Here’s the when, where and how:

When: July 25 from 5:30 p.m. – 9:00 p.m.
Where: Park Chalet in San Francisco
How much: $95

As always, you have a chance to win great door prizes, including TechCrunch swag, Amazon Echos and tickets to Disrupt San Francisco 2019.

The 14th Annual TechCrunch Summer Party takes place on July 25, and this is the last ticket release. Don’t miss out on a convivial evening of food, drink, connection and possibility in the company of your entrepreneurial peers. Buy your ticket right here.

Want a free ticket to Disrupt SF?

Volunteer for the Summer Party and work with the TechCrunch team for a few hours. Sign up to volunteer here.

48-hour, buy-one-get-one free — TC Sessions: Enterprise 2019

Published July 15, 2019

Every startupper we’ve ever met loves a great deal, and so do we. That’s why we’re celebrating Prime day with a 48-hour flash sale on tickets to TC Sessions: Enterprise 2019, which takes place September 5 at the Yerba Buena Center for the Arts in San Francisco.

We’re talking a classic BOGO — buy-one-get-one — deal that starts today and ends tomorrow, July 16, at 11:59 p.m. (PT). Buy one early-bird ticket ($249) and you get a second ticket for free. But this BOGO goes bye-bye in just 48 hours, so don’t wait. Buy your TC Sessions: Enterprise tickets now and save.

Get ready to join more than 1,000 attendees for a day-long, intensive experience exploring the enterprise colossus — a tech category that generates hundreds of new startups, along with a steady stream of multibillion-dollar acquisitions, every year.

What can you expect at TC Sessions: Enterprise? For starters, you’ll hear TechCrunch editors interview enterprise software leaders, including tech titans, rising founders and boundary-breaking VCs.

One such titan, George Brady — Capital One’s executive VP in charge of tech operations — will join us to discuss how the financial institution left legacy hardware and software behind to embrace the cloud. Quite a journey in such a highly regulated industry.

Our growing speaker roster features other enterprise heavy-hitters, including Aaron Levie, Box co-founder and CEO; Aparna Sinha, Google’s director of product management for Kubernetes and Anthos; Jim Clarke, Intel’s director of quantum hardware; and Scott Farquhar, co-founder and co-CEO of Atlassian.

Looking for in-depth information on technical enterprise topics? You’ll find them in our workshops and breakout sessions. Check out the exhibiting early-stage enterprise startups focused on disrupting, well, everything. Enjoy receptions and world-class networking with other founders, investors and technologists actively building the next generation of enterprise services.

TC Sessions: Enterprise 2019 takes place September 5, and we pack a lot of value into a single day. Double your ROI and take advantage of our 48-hour BOGO sale. Buy your ticket before July 16 at 11:59 p.m. (PT) and get another ticket free. That’s two tickets for one early-bird price. And if that’s not enough value, get this: we’ll register you for a free Expo-only pass to Disrupt SF 2019 for every TC Sessions: Enterprise ticket you purchase (mic drop).

Interested in sponsoring TC Sessions: Enterprise? Fill out this form and a member of our sales team will contact you.

Fresh tickets to our 14th Annual TechCrunch Summer Party

Published July 9, 2019

Our 14th Annual TechCrunch Summer Party is a mere two weeks away, and we’re serving up a fresh new batch of tickets to this popular Silicon Valley tradition. Jump on this opportunity, folks, because our previous releases sold out in a flash — and these babies won’t last long, either. Buy your ticket today.

Our summer soiree takes place on July 25 at Park Chalet, San Francisco’s coastal beer garden. Picture it: A cold brew, an ocean view, tasty food and relaxed conversations with other amazing members of the early-startup tech community.

TechCrunch parties have a reputation as a place where startup magic happens. And there will be plenty of magical opportunity afoot this year as heavy-hitter VCs from Merus Capital, August Capital, Battery Ventures, Cowboy Ventures, Data Collective, General Catalyst and Uncork Capital join the party.

There’s more than one way to make magic at our summer fete. If you’re serious about catching the eye of these major VCs, consider buying a Startup Demo Package, which includes four attendee tickets.

Fun fact: Box founders Aaron Levie and Dylan Smith met one of their first investors, DFJ, at a party hosted by TechCrunch founder Michael Arrington. It’s one of our favorite success stories.

Check out the party details:

When: July 25 from 5:30 p.m. – 9:00 p.m.
Where: Park Chalet in San Francisco
How much: $95
Startup Demo Package: $2,000

No TechCrunch party is complete without a chance to win great door prizes, including TechCrunch swag, Amazon Echos and tickets to Disrupt San Francisco 2019.

Buy your ticket today and enjoy a convivial evening of connection and community in a beautiful setting. Opportunity happens, and it’s waiting for you at the TechCrunch Summer Party.

Pro Tip: If you miss out this time, sign up here and we’ll let you know when we release the next group of tickets.

Is your company interested in sponsoring or exhibiting at the TechCrunch 14th Annual Summer Party? Contact our sponsorship sales team by filling out this form.

Box CEO Aaron Levie is coming to TC Sessions: Enterprise

Published July 8, 2019

Box co-founder, chairman and CEO Aaron Levie took his company from a consumer-oriented online storage service to a publicly traded enterprise powerhouse. Launched in 2005, Box today has more than 41 million users, and the vast majority of Fortune 500 companies use its service. Levie will join us at TC Sessions: Enterprise for a fireside chat about the past, present and future of Box, as well as the overall state of the SaaS and cloud space.

Levie, who also occasionally contributes to TechCrunch, was a bit of a serial entrepreneur before he even got to college. Once he got to the University of Southern California, the idea for Box was born. In hindsight, it was obviously the right idea at the right time, but its early iterations focused more on consumers than business users. Like so many other startups, though, the Box team quickly realized that in order to actually make money, selling to the enterprise was the most logical — and profitable — option.

Before going public, Box raised well over $500 million from some of the most world’s most prestigious venture capital firms. Box’s market cap today is just under $2.5 billion, but more than four years after going public, the company, like many Silicon Valley unicorns both private and public, still regularly loses money.

Early-Bird Tickets are on sale today for just $249 — book here before prices go up by $100!

New tickets available to the 14th Annual TechCrunch Summer Party

Published June 26, 2019

Could you use a little summer startup fun? We’re rolling out our next round of tickets to the TechCrunch Summer Party at Park Chalet, San Francisco’s coastal beer garden. If you want to join your startup peers to eat, drink and be merry, don’t delay. These limited-release tickets will be snapped up before you can say “hold my beer.” Buy your Summer Party ticket today.

Our 14^th annual summer soiree offers an opportunity to connect and converse with like-minded entrepreneurs in a relaxed setting with ocean views. Take a break from the daily grind, have a local brew and strike up a conversation. You never know where it might lead or when lightning might strike — especially with Lead VC Partner Merus Capital along with firms August Capital, Battery Ventures, Cowboy Ventures, Data Collective, General Catalyst, and Uncork Capital in the house.

Party-planning details you need to know:

When: July 25 from 5:30 p.m. – 9:00 p.m.
Where: Park Chalet in San Francisco
How much: $95

Don’t miss your chance to enjoy a fun night that fosters both opportunity and community. We always mix it up with games and door prizes — like fun TechCrunch swag, Amazon Echos and tickets to Disrupt San Francisco 2019.

Remember, we release tickets to the Summer Party on a rolling basis and they sell out quickly. Buy your 14th Annual Summer Party ticket today. If you strike out this time, sign up to be notified when the next batch goes on sale.

Is your company interested in sponsoring or exhibiting at the TechCrunch 14th Annual Summer Party? Contact our sponsorship sales team by filling out this form.