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Extra Crunch Live is off to a kick-ass start this year. Lightspeed’s Gaurav Gupta and Grafana’s Raj Dutt taught us how to nail the narrative. Felicis Ventures’ Aydin Senkut and Guideline’s Kevin Busque showed us how valuable a simple pitch deck can be. And just yesterday, Accel’s Steve Loughlin and Ironclad’s Jason Boehmig discussed the challenges of pricing and packaging your product. Next week, we’ll sit down with Bain Capital Ventures’ Matt Harris and Justworks’ Isaac Oats.
For those of you who followed the series last year, Extra Crunch Live is a brand new beast in 2021: we take a look at early stage funding deals through the eyes of the founders and investors who made them happen, and those same tech leaders go through your pitch decks and give feedback and advice. Every single Wednesday at 12 p.m. PST/3 p.m. EST!
Extra Crunch Live is available for EC members only. It is but one of the many reasons to join Extra Crunch, including but not limited to Investor Surveys, Market Maps, and the EC Perks Program. Interested? Hit up this link to get started.
Today, I’m thrilled to announce the March slate for Extra Crunch Live. (Registration info for these events is at the bottom of the post.)
Sarah Kunst (Cleo Capital) + Julia Collins (Planet FWD)
March 10, 12pm PT/3pm ET
Julia Collins built a unicorn in the form of Zume, a robotics-focused pizza startup. Her latest venture, Planet FWD, has raised $2.7 million for climate-friendly food. Sarah Kunst, managing director of Cleo Capital invested in the round, adding Planet FWD to a portfolio that includes mmhmm, Lunch Club, StyleSeat and more. Hear why they chose one another, what matters most in the relationship between an investor and a founder, and get their live feedback on audience-submitted pitch decks.
Emmalyn Shaw (Flourish Ventures) + Adam Roseman (Steady)
March 17, 12pm PT/3pm ET
Emmalyn Shaw co-manages a $500 million fintech fund in Flourish Capital, with portfolio companies that include Brigit, Chime, Clerkie, Cushion, EarnUp, Kin, Propel, and SeedFi. She also led the Series A deal for Steady, founded by Adam Roseman, back in 2018. Hear from Emmalyn and Adam about how they came together, what it takes to get funding and be successful in the fintech space, and get their live feedback on audience-submitted pitch decks.
Navin Chaddha (Mayfield) + Manish Chandra (Poshmark)
March 24, 12pm PT/3pm ET
Poshmark raised upwards of $150 million before filing to go public in 2019. Today, it has a market cap north of $5 billion. Mayfield’s Navin Chaddha led the company’s Series A all the way back in 2011, back when Poshmark was called Gosh Posh. Hear Chaddha and Poshmark founder Manish Chandra discuss a decade of growth, and walk us through how they came together more than ten years ago. Then the duo will take a look at pitch decks submitted by audience members.
As a reminder, Extra Crunch Live is available for EC members only. It is but one of the many reasons to join Extra Crunch, including but not limited to Investor Surveys, Market Maps, and the EC Perks Program. Interested? Hit up this link to get started.
Register for the March episodes of Extra Crunch Live below.
See you there!
Google announced today the Apple TV+ streaming service has now arrived on the Google TV platform, starting with Chromecast with Google TV. It will also become available on Google TVs from both Sony and TCL, with expansions to other Android TV-powered devices in the months to come, Google says.
Google TV was first introduced last September as the new way Google will refer to its interface for Chromecast, where it combines streaming services, live TV via YouTube TV, and other Google offerings into one user interface — making it more competitive with similar offerings from Apple and Amazon. Today, the platform supports a wide range of top streaming services, like Disney+, Netflix, HBO Max, Peacock, Prime Video, CBS All Access, Hulu, Soing, and others, including, of course, YouTube.
With the added support for Apple TV+, users who already have subscriptions will be able to tune into its original programming, which includes movies, documentaries and series like “Ted Lasso,” “For All Mankind,” “Servant,” “The Morning Show,” “Dickinson,” and others. The app also provides access to the user’s library of movies and shows purchased from Apple, recommendations, and supports Family Sharing. The latter allows up to 6 family members to share a subscription to Apple TV+ and Apple TV channels.
Following the app’s launch on Google TV, users in the U.S. will be able to browse Apple’s Originals in Google TV’s personalized recommendations and surface its content in search results. Users can also ask Google Assistant to open the Apple TV app or they can request an Apple Original title by name. And they’ll be able to add Apple TV+ programming to the Google TV Watchlist. Google says these features will arrive in the “coming months,” however, instead of at launch.
The launch makes Google TV one of the last of the major streaming device platforms to support Apple’s streaming service, which is otherwise broadly available.
Apple TV+ had debuted in November 2019 for Apple customers, and later rolled out to non-Apple platforms including, that same year, Roku devices and Amazon’s Fire TV platform. Today, it’s also now available across a variety of smart TVs by Samsung, LG, Vizio, and Sony; gaming consoles including PlayStation (PS4 & PS5) and Xbox (One, Series X, Series S): and via the web.
Source: https://techcrunch.com/2021/02/18/apple-tv-arrives-on-google-tv-devices-starting-with-chromecast/
Almost exactly a year after Google announced the first developer preview of Android 11, the company today released the first developer preview of Android 12. Google delayed the roll-out of Android 11 a bit as the teams and the company’s partners adjusted to working during a pandemic, but it looks like that didn’t stop it from keeping Android 12 on schedule. As you would expect from an early developer preview, most of the changes here are under the hood and there’s no over-the-air update yet for intrepid non-developers who want to give it a spin.
Image Credits: Google
Among the highlights of the release so far — and it’s important to note that Google tends to add more user-facing changes and UI updates throughout the preview cycle — are the ability to transcode media into higher quality formates like the AV1 image format, faster and more responsive notifications and a new feature for developers that now makes individual changes in the platform togglable so they can more easily test the compatibility of their apps. Google also promises that just like with Android 11, it’ll add a Platform Stability milestone to Android 12 to give developers advance notice when final app-facing changes will occur in the development cycle of the operating system. Last year, the team hit that milestone in July when it launched its second beta release.
“With each version, we’re working to make the OS smarter, easier to use, and better performing, with privacy and security at the core,” writes Google VP of Engineering Dave Burke. “In Android 12 we’re also working to give you new tools for building great experiences for users. Starting with things like compatible media transcoding, which helps your app to work with the latest video formats if you don’t already support them, and easier copy/paste of rich content into your apps, like images and videos. We’re also adding privacy protections, refreshing the UI, and optimizing performance to keep your apps responsive.”
Image comparison from AVIF has landed by Jake Archibald
Obviously, there are dozens of developer-facing updates in Android 12. Let’s look at some in detail.
For the WebView in Android 12, Google will now implement the same SameSite cookie behavior as in Chrome, for example. Last year, the company slowed down the roll-out of this change, which makes it harder for advertisers to track your activity across sites, in Chrome, simply because it was breaking too many sites. Now, with this feature fully implemented in Chrome, the Android team clearly feels like it, too, can implement the same privacy tools in WebView, which other apps use to display web content, too.
As for the encoding capabilities, Burke notes that, “with the prevalence of HEVC hardware encoders on mobile devices, camera apps are increasingly capturing in HEVC format, which offers significant improvements in quality and compression over older codecs.” He notes that most apps should support HEVC, but for those that can’t, Android 12 now offers a service for transcoding a file into AVC.
Image Credits: Google
In addition, Android 12 now also supports the AV1 Image File Format as a container for images and GIF-like image sequences. “Like other modern image formats, AVIF takes advantage of the intra-frame encoded content from video compression,” explains Burke. “This dramatically improves image quality for the same file size when compared to older image formats, such as JPEG.”
Image Credits: Google
As with every Android release, Google also continues to tinker with the notification system. This time, the team promises a refreshed design to “make them more modern, easier to use, and more functional.” Burke calls out optimized transitions and animations and the ability for apps to decorate notifications with custom content. Google now also asks that developers implement a system that immediately takes users from a notification to the app, without an intermediary broadcast receiver or service, something it recommended before.
Image Credits: Google
Android 12 will now also offer better support for multi-channel audio with up to 24 channels (a boon for music and other audio apps, no doubt), spatial audio, MPEG-H support, and haptic-coupled audio effects with the strength of the vibration and frequency based on the audio (a boon for games, no doubt). There’s also improved gesture navigation and plenty of other optimizations and minor changes across the operating system.
Google also continues to drive its Project Mainline forward, which allows for an increasing number of the core Android OS features to be updated through the Google Play system — and hence bypasses the slow update cycles of most hardware manufacturers. With Android 12, it is bringing the Android Runtime module into Mainline, which will then let Google push updates to the core runtime and libraries to devices. “We can improve runtime performance and correctness, manage memory more efficiently, and make Kotlin operations faster – all without requiring a full system update,” Burke says. “We’ve also expanded the functionality of existing modules – for example, we’re delivering our seamless transcoding feature inside an updatable module.”
You can find a more detailed list of all of the changes in Android 12 here.
Image Credits: Google
Developers who want to get started with bringing their apps to Android 12 can do so today by flashing a device image to a Pixel device. For now, Android 12 supports the Pixel 3/3 XL, Pixel 3a/3a XL, Pixel 4/4 XL, Pixel 4a/4a 5G and Pixel 5. You can also use the system image in the Android Emulator in Google’s Android Studio.
Source: https://techcrunch.com/2021/02/18/google-launches-the-first-developer-preview-of-android-12/
Social audio app Clubhouse has now topped 8 million global downloads, despite still being in a prelaunch, invite-only mode, according to new data released today by mobile data and analytics firm App Annie. Per its estimates, Clubhouse grew from over 3.5 million global downloads as of Feb. 1, 2021, to reach 8.1 million by Feb. 16, 2021. This sharp growth is attributed to several high-profile guest appearances, including those from Tesla and SpaceX founder Elon Musk and Facebook CEO Mark Zuckerberg, for example.
App Annie also estimates that 2.6 million-plus of the total global installs took place in the U.S. — a figure that highlights the app’s global appeal.
Image Credits: App Annie
Clubhouse, meanwhile, hasn’t officially shared its total number of downloads or registered users, but CEO Paul Davison revealed in January the app had grown to 2 million weekly active users — which means the app’s monthly active user figure and total registered user count would be much higher. Other estimates have put the app’s registered user base in between 6 million and 10 million (the latter citing unnamed sources.)
Reached for comment on App Annie’s report, Clubhouse said it doesn’t publish user numbers.
It’s worth noting that app install figures aren’t typically a valid proxy for registered users as many people often download an app but then never open it or sign up. But in Clubhouse’s case, the two figures could be more closely aligned as people who are installing the app are motivated to join. The app is not open to the public, so the users installing the app are likely either in possession of a Clubhouse invite or are aiming to get one from a friend or trusted contact who’s already joined.
Also in the new report, App Annie noted how Clubhouse phenomenon is having an impact on the larger app ecosystem. Local rivals to Clubhouse offering their own social audio experience have also gained downloads in recent days, including Dizhua, Tiya and Yalla, which have attracted users in China, the U.S., Egypt, Saudi Arabia and Turkey.
Dizhua, for example, has 174,000 downloads; Tiya has 6 million; and Yalla has 34.5 million, the report says. Yalla, notably, has been live since 2016, but Clubhouse’s popularity is giving it a boost.
Beyond this small handful, there’s been an explosion of social audio experiences, including those in from startups like Sonar, Locker Room, Quilt, Yoni Circle, Roadtrip, Space, Capiche.fm, Yac, Cappuccino, and others. Twitter, meanwhile, is building its own Clubhouse rival with Spaces, which it said yesterday will expand to Android by March. Facebook, too, is reportedly planning a Clubhouse competitor.
The question on everyone’s minds now is how much of this growth is sustainable. Skeptics say Clubhouse lends itself to those who tend to dominate conversations by talking at length; that many of its conversations are just kind of boring; that the app favors the “hustle culture”-obsessed; and so on. Some also wonder to how well social audio apps will fare when the world reopens post-COVID and there’s more to do — including the return traditional networking events.
But these concerns don’t take into account that social audio has the potential to carve out space for itself by supplanting users’ other mobile spoken-word audio activities, like podcast listening or audiobooks. Of course, questions about Clubhouse’s future can’t really be answered now, as the pandemic continues, and with an app that’s not fully open to the public.
Volta Energy Technologies, the energy investment and advisory services firm backed by some of the biggest names in energy and energy storage materials, has closed on nearly $90 million of a targeted $150 million investment fund, according to people familiar with the group’s plans.
The venture investment vehicle compliments an $180 million existing commitment from Volta’s four corporate backers — Equinor, Albermarle, Epsilon, and Hanon Systems — and comes at a time when interest in energy storage technologies couldn’t be stronger.
As the transition away from internal combustion engines and hydrocarbon fuels begins in earnest companies are scrambling to drive down costs and improve performance of battery technologies that will be necessary to power millions of electric cars and store massive amounts of renewable energy that still needs to be developed.
“Capital markets have noticed the enormity of the opportunity in transitioning away from carbon,” said Jeff Chamberlain, Volta’s founder and chief executive.
Born of an idea that that began in 2012 when Chamberlain began talking with the head of the Department of Energy under the Obama Administration back in 2014. What began when Chamberlain was at Argonne National Lab leading the development of JCESR, the lead lab in the US government’s battery research consortium, evolved into Volta Energy as Chamberlain pitched a private sector investment partner that could leverage the best research from National Laboratories and the work being done by private industry to find the best technology.
Support for the Volta project remained strong through both public and private institutions, according to Chamberlain. Even under the Trump Administration, Volta’s initiative was able to thrive and wrangle some of the biggest names in the chemicals, utility, oil and gas and industrial thermal management to invest in a $180 million fund that could be evergreen, Chamberlain said.
According to people with knowledge of the organizations plans, the new investment fund which is targeting $150 million but has hard cap of $225 million would compliment the existing investment vehicle to give the firm more firepower as additional capital floods into the battery industry.
Chamberlain declined to comment specifically on the fund, given restrictions, but did say that his firm had a mandate to invest in technology that is battery and storage related and that “enables the ubiquitous adoption of electric vehicles and the ubiquitous adoption of solar and wind.”
Back during the first cleantech boom the brains behind Volta witnessed a lot of good money getting poured into bad ideas and vaporware that would never amount to commercial success, said Chamberlain. Volta was formed to educate investors on the real opportunities that scientists were tracking in energy storage and back those companies with dollars.
“We knew that investors were throwing money into a dumpster fire. We knew it could have a negative impact on this transition to carbon,” Chamberlain said. “Our whole objective was to help guide individuals deploying massive amounts of their personal wealth and move it from putting money into an ongoing dumpster fire.”
That mission has become even more important as more money floods into the battery market, Chamberlain said.
The SPAC craze set off by Nikola’s public offering in electric vehicles and continuing through QuantumScape’s battery SPAC through a slew of other electric vehicle offerings and into EV charging and battery companies has made the stakes higher for everyone, he said.
Chamberlain thinks of Volta’s mission as finding the best emerging technologies that are coming to market across the battery and power management supply chain and ensure that as manufacturing capacity comes online, the technology is ready to meet growing demand.
“Investors who do not truly understand the energy storage ecosystem and its underlying technology challenges are at a distinct disadvantage,” said Goldman Sachs veteran and early Volta investor Randy Rochman, in a statement. “It has become abundantly clear to me that nothing happens in the world of energy storage without Volta’s knowledge. I can think of no better team to identify energy storage investment opportunities and avoid pitfalls.”
The new fund from Volta has already backed a number of new energy storage and enabling technologies including: Natron, which develops high-power, fire-safe Sodium-ion batteries using Prussian blue chemistry for applications that demand a quick discharge of power; Smart Wires, which develops hardware that acts as a router for electricity to travel across underutilized power lines to optimize the integration of renewable power and energy storage on the grid; and Ionic Materials, which makes solid lithium batteries for both transportation and grid applications. Ionic Materials’ platform technology also enables breakthrough advancements in other growing markets, such as 5G mobile, and rechargeable alkaline batteries.
