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VanMoof X3 e-bike review: Transportation revelation

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Like some of the best consumer tech from the last decade, I didn’t know I needed an e-bike until I was on one, breezing down the bike lane contemplating my newfound freedom.

Before buying a Nintendo Switch, I would have never guessed how much a candy-colored gaming console that I could pop out of a dock and into my backpack for long flight would fill me with joy. An e-bike, particularly this e-bike, the VanMoof X3, feels like that.

I live in Portland, Oregon, land of ample bike lanes and naked bike rides. When I first moved here, I biked everywhere, but that habit slowly dissolved over the years. First, I bought a car for weekend camping trips, which slowly became weekday errand running.

A few years later, I got diagnosed with a chronic illness and suddenly found myself much less confident in what my body could do and where it could comfortably take me. Over time, my bike would only see a handful of rides a season on beautiful days, when I’d always sigh and think I wish I biked more — it makes me feel good!

Before testing the X3, I’d find excuses to drive short distances instead of riding my bike. What if I got tired and didn’t feel like biking home? What if it starts pouring rain? What’s if it’s too hot? What if I’m too sweaty when I get to the office? Riding an e-bike erases most of those concerns outright.

The X3 is an effortless enough ride that I can still zoom to work if it’s 95+ degrees out. It’s fast enough that I can get out of a surprise rainstorm quickly if need be. If I don’t want to be sweaty at the start of the day, I can lean on sweet, sweet electricity to whisk me away, rolling up to my office without breaking a sweat.

And it can’t go unstated that going fast on a bike — the whole time, with as much or little effort as you feel like putting in — is really, really fun. If you haven’t had a chance to try an e-bike, know that the sensation of effortlessly zipping around, electricity near-imperceptibly humming beneath you, is difficult to describe and best experienced first-hand.

VanMoof’s handsome pair of high tech bikes, the X3 and its larger cousin the S3, are far from the only options on the market, so some of their pluses would hold true for any electric bike. But that doesn’t make the VanMoof interchangeable either. The VanMoof X3 has a very specific look, feel and feature set that will perfectly suit a certain kind of rider (myself included) but other e-bike shoppers will still want to play the field. We’ll get into that — here goes!

VanMoof X3 e-bike

Matrix display shows battery life, speed and other key info.

APPEARANCE

I tested the VanMoof X3 over the S3 not by choice — its geometry is a little wacky looking in pictures — but because I’m 5’4″. The X3, which fits anybody from 5′-6’5″, is a little smaller and less traditional looking than the S3, which suits anyone taller than 5’8″. The X3 has 24″ wheels rather than the S3’s 28″ wheels and it has a little bungee-corded platform in the front where presumably you could carry something, but I still have no idea what (You can also buy an add-on front basket that slots in there and looks very cute.)

Like most e-bikes, the X3 is much, much heavier than a normal road or commuter bike. The listed weight is 45.8 lbs and you’ll feel every pound of it if you ever need to carry it very far. I live in a standalone house in Portland, Oregon and had to carry the X3 down a very short front step to ride it — totally fine!

I used to live in a fifth floor walkup in Brooklyn and carrying it up or down that would have been impossible. If you can’t store the X3 (or most any e-bike) around ground level with access to a charger, it might not be a good fit for you. (Note that in our pictures, the small platform above the chain area is where an optional external battery pack, discussed later, sits. The platform is removable.)

Though on paper I’d prefer the look of the S3, the X3 doesn’t look strange at all IRL, whether parked or with somebody riding it. It’s cute, futuristic but not conspicuous and gets plenty of compliments. My wife described its aesthetic as “Death Star chic” and while I don’t totally know what that means, she’s not wrong. On the way to my office a sanitation truck driver rolled down his window to bellow “HEY—THAT’S A REALLY COOL BIKE.” Thanks, my dude!

VanMoof X3 e-bike

The current generation of VanMoof e-bikes are coated in matte paint and you can choose between a classic, sexy matte black or a pleasantly cheery matte light blue. A previous version of the bikes used glossy coating, but apparently the matte is supposed to be more scratch resistant. The paint does seem pretty tough though it’s not totally bombproof. Somehow the handlebars picked up a little nick in the paint, though I still have no idea where it came from or what did it (owls?).

Something important to note is that neither the VanMoof X3 or S3 look like e-bikes. They don’t have an ugly bulge jutting out from the frame and the top tube and down tube are both thick but uniform — and not so thick you’d think twice about it.

The electronic components are nestled away in the frame and even the drivetrain is tucked away and enclosed. And while there’s a deeply cool LED matrix display embedded in the top tube, only the rider really sees it. For anyone looking for an e-bike that doesn’t scream e-bike!!!! the VanMoof is one of the best choices if not the best choice you could make. It’s an awesome looking bike — not just an awesome looking e-bike.

VanMoof X3 in the city of roses.

RIDING

The VanMoof X3 is a nice-looking bike — you get it. But what about, you know, the biking? I can confidently report that from the first time you hop on it to your twentieth commute to work, the X3 is an absolute joy to ride.

As an e-bike newcomer I had reservations. Would the electric assistance cheapen the magic of riding a bike? Do I really want a bike doing the shifting for me? As it turns out, quite the opposite and yes, absolutely.

The VanMoof X3 (and its sibling the S3) give you an electric boost while pedaling — you’ll still be pedaling but it feels enticingly easy and you’ll go faster with less effort. The bike also features a Turbo Boost button on the right-side handlebar that gives you a big boost on top of the smoother normal electronic assistance, up to 20 miles per hour in the U.S.

You can choose the amount of help that you want. Using the VanMoof app, which we’ll get to, or a physical button, you can select what level of power assist you’d like from zero to four. Zero is you pedaling a heavy-ass bike alone with no help (it sucks) and four makes everything feel so easy there’s almost no way to break a sweat.

In my time testing the bike, I’d use “two” when I felt like getting a bit of a workout with extra pep in my pedal, four when I was in a hurry to get to my co-working space in the mornings and three the rest of the time, like riding to brunch on a weekend. Being able to choose the level of pedal assistance is a huge perk and it makes the bike feel flexible for different uses.

VanMoof X3 e-bike

The kick lock button, back wheel and enclosed chain.

Whatever mode you’re on, the turbo boost button is a killer feature. It flattens steep hills and makes it feel way safer to zip across busy intersections where you’re not sure drivers are paying attention. It’s fun and awesome for safe, defensive city riding.

It takes a little bit to get used to the automatic electronic shifting but that’s silky smooth too. I initially assumed that, like many things that worked perfectly well before having some extraneous “smart” high-tech nonsense draped over them (fridges! lamps! vibrators!) the technology would fail just often enough to be a nuisance.

After a long period of testing, I can report that the X3 rides as smooth and seamless as ever. Every once in a while I’d crunch down on the pedal or a gear won’t catch right away but it’s super rare. You can even use the app to customize when the bike shifts up and down and it’s worth playing around with that to find something that feels just right.

What else? The X3’s maximum assisted speed is in the U.S. is 20 mph (32km/hr), but anyone in Europe will be limited to 15.5 mph (25km/hr). The U.S. speed feels great and it’s painless to get up to 20mph and maintain that speed with the X3 in a way I’d have to destroy my quads to manage otherwise, even on my zippy non-electric road bike.

Beyond that, the seat is very comfy and the ride is pleasantly upright and natural. After riding the X3 for a while I had a hard time going back to hunching over on my (adorable) little Bianchi and pined for the comfy ride I’d gotten so used to.

VanMoof X3 e-bike

Tail light from the future.

VALUE

The VanMoof X3 is an excellent value, all things considered. The company has a weird habit of tinkering with its pricing, but after a redesign and a colossal price drop in 2020 ($3,398 to $1,998 at the time) the bikes feel very well priced. Now they’re retailing for $2,298 — $300 more than the previous price but still a fine deal for anyone looking for a very full-featured e-bike without spending more than around $2,000.

That’s not very much more than you’d spend on a regular bike, sans electricity and many, many cool bells and whistles. And if you’re into higher end bikes, it could even be a lot less. It’s also substantially less than the high end of e-bike competition, which the VanMoof bikes feel like they compete with, even with the wallet-friendlier price tag.

Still, it’s kind of stressful that VanMoof is quietly messing around with the pricing with the bikes already out in the wild. It would suck to plan to buy one only to see the price shoot up before you’d pulled the trigger.

The company should be more transparent about this, giving set future dates for planned price changes. There also seem to be updates within generations of the bikes, so an X3 you buy now might differ from an X3 you could buy in 2020. That’s confusing and all of it should be made clearer somewhere obvious on the website.

vanmoof-app

The VanMoof app’s in-app ride tracking and summary stats.

RANGE

One of the biggest considerations with an e-bike (or an e-anything!) is range. VanMoof says the X3’s range is 37 miles using “full power” and up to 93 miles in economy mode. If you’re getting 93 miles out of the battery, you probably aren’t even using the pedal assistance at all, so you can just toss that number out. The low end estimate of 37 miles might be a little generous for someone who’s using the bike on the fourth power assistance level and smashing the turbo boost regularly, but 35-45 miles feels about right from my testing (usually mode 3 or 4, occasionally 2, light use of turbo button).

The range feels good. Even using the X3 most days out of the week, charging is infrequent enough to never feel annoying. In my case, that meant daily short rides (2.5-5 miles, usually) and the occasional longer ride (10-20 miles). If you’re using the X3 or S3 to commute to work somewhere that’s farther away, you’re going to find yourself plugging in more. Even so, I never got into a situation where I was concerned that I’d run out of battery far from home. And even if you do, you can still pedal the bike — it’s just really heavy. Most people will probably charge up overnight, but you can fill up the battery in four hours if you need to.

Something to note is that you’ll plug in a wall charger directly to the bike to charge it. For anyone who can’t charge and store the X3 on ground level, know you’ll have to carry the whole dang bike to an outlet. The lack of a removable battery might be a strike against the VanMoof bikes for folks who live in walk-ups or small apartments, but for people with somewhere easy to store it, this wasn’t something I thought twice about.

While the built-in range is totally adequate for a lot of use cases, VanMoof just introduced an external add-on battery pack for both the X3 and S3. The battery slots into a little platform, pictured below and mounted on our test bike, and it extends the X3’s range considerably. VanMoof sells the PowerBank accessory for $348. The thing isn’t small — it weighs six pounds — but VanMoof says it’ll give you anywhere from 28 to 62 miles of extra range. Again, almost nobody is going to hit the high end of this, but even at the low end it almost doubles the bike’s existing range.

External PowerBank via VanMoof

The PowerBank is big and pretty clunky. It doesn’t look awful, but it definitely makes the X3 look like an e-bike. It’s not elegant like the removable battery on the Cowboy, another extremely handsome e-bike, but it’s ok. If everything else about a VanMoof suits you perfectly but you need more range, it’s great to have the option, even if you’ll be shelling out for it.

VanMoof X3 e-bike

TECH FEATURES

The tech bells and whistles are something that really makes the VanMoof X3 and S3 stand out from the crowd. The X3’s price feels reasonable for a reliable, great-looking e-bike, but on top of that you’ll be getting an electric steed with some pretty sweet tricks:

  • Matrix display: On the bike’s top tube an array of LED lights built into the metal displays your speed, battery life and other useful info. This is a killer feature, it’s extremely cool!
  • Alarm. You can activate an alarm that will *literally growl* at anyone who jostles your bike. It’s intense and really loud.
  • Kick lock. You can kick a small physical button to alarm the bike and lock the back wheel. If you live in a city with bike theft, someone could still toss the bike in a truck easily so this isn’t a single security solution (I used a normal mini Kryptonite lock and that worked great.)
  • Find My on iOS. If you’re an iOS user you can track your bike’s whereabouts easily. It’s a nice feature, though ideally if your bike is well-locked you aren’t going to be messing with this much.
Vanmoof Find My iOS

VanMoof support for “Find My” app in iOS

  • Lights. The VanMoof X3 has great built-in lights, front and back.
  • App: Surprisingly, the app is actually pretty good. You can customize lots of small things (bell noise, alarm on or off, shifting preferences), use it to track your rides and more. You also don’t have to be connected to the bike with the app to do the most essential stuff, liking riding it, unlocking it and changing your level of electric assistance. I had an occasional connectivity problem with the app (usually on Android) but this was easily resolved and never kept me from biking anywhere, though it did mean some rides weren’t automatically tracked. Importantly, you can also track your bike’s whereabouts through the app and VanMoof touts this feature combined with its alarm system and recovery team for helping people get their bikes back.

VanMoof X3 e-bike

Overall, something great about the X3 is that the tech features aren’t just fancy tricks — they really enhance the experience. And even so, they’re optional. You can ride the bike and benefit from the power assistance without using the app. You can use a regular lock and skip the alarm system if you choose to, or use a physical button code to disable it manually. You can change the power assistance mode with the same button. This is all huge and lets you use the e-bike how you want to. Personally, I’d never buy an e-bike that required connectivity, a phone or an app to operate it; that’s just asking for trouble.

OTHER CONSIDERATIONS

Shipping and Assembly: The VanMoof X3 and S3 come in the mail in a big box. The assembly process was almost painless — except for this one really fiddly bit you have to slide into another fiddly bit which took me the better part of an hour and some searching on the VanMoof subreddit (not the only one with this problem!)

Extra Support: VanMoof offers three paid plans to keep your bike in working order and in your possession. You can buy a three-year maintenance plan for $348, a three-year theft recovery plan for $398 or a combined plan for $690 (broken down via VanMoof below).

VanMoof support plans

Maintenance: Where you live should be a major consideration when thinking about buying a VanMoof. In my time testing it for reliability over an extended period, I was surprised by how few problems came up. I had to mess around with re-centering the front wheel at some point because a brake pad was rubbing, but aside from occasional app connectivity issues, that was pretty much it. Of course, significant wear and tear means any bike could benefit from a pro tune up from someone who knows the model.

VanMoof has full-fledged stores in Amsterdam, London, Paris, Berlin, New York, San Francisco, Seattle and Tokyo. Beyond its flagship stores, the company relies on an expanding network of service centers and “certified workshops” to maintain its bikes, so be sure to check what’s near you. Personally, I’d want to be near enough to a VanMoof store or at least a service center to guarantee my $2,000+ investment and its many, many technological bits could be maintained in perfect health. Nobody wants to ship a bike back for repairs, especially a heavy, technologically complex one.

Prior to testing out the X3, e-bikes aren’t something I’d thought a lot about and I wasn’t really sure who they were for. I first heard of VanMoof a couple of years ago when a close friend and much more serious biker than me bought one for towing her dog (the goodest girl) on a long work commute. We rode to the farmer’s market together and her bike looked very cool, but I was skeptical that something with so much technology under the hood could prove reliable over time.

Bikes are mechanical and simple — that’s something wonderful about them! Could an e-bike really translate the joyful simplicity of biking into something much more high tech? As it turns out, yes. After test riding the VanMoof X3 to get a sense of its reliability over time and how its features hold up in normal day-to-day use, I regret my early skepticism.

I don’t know if I can overstate how much riding an e-bike, specifically this e-bike, enhanced my life in small ways for the better while I tried it out. Biking more — and e-bikes do get people biking more — makes me happier and healthier. Biking more has helped me ease out of the intensely sedentary pandemic period into new habits that make me feel more connected to the world around me. I’m seeing my city with fresh eyes, biking to new neighborhoods I’ve never explored and appreciating all of the little things I took for granted. My only e-bike regret is not hopping on one sooner.

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Source: https://techcrunch.com/2021/07/16/vanmoof-x3-review-e-bike/

Startups

Unmuted founder Max van den Ingh on success beyond the metrics

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There is no authoritative playbook for marketing these days. Every company must find its own voice, and as it grows and evolves, its marketing needs to evolve as well.

Relying on proven tactics and measurable metrics isn’t enough — today, the most effective marketers constantly study and learn from innovative approaches while exploring new avenues.

This is where Unmuted comes in. A growth marketing agency based in Amsterdam, this company focuses on LinkedIn marketing, content marketing, marketing automation and email marketing. Before starting Unmuted, Max van den Ingh was head of growth and product at MisterGreen, an electric vehicle leasing company, and he also served as head of growth marketing at ShopPop, a chat-based marketing platform.

Van den Ingh, who also serves as a guest lecturer at Nyenrode Business University, was recommended to TechCrunch through the TechCrunch Experts project. We’re currently on the lookout for top-tier growth marketers that you can recommend to other startups. If you know of one, let us know by filling out this quick survey.

Van den Ingh spoke with us about his “modern” approach to marketing, setting realistic goals, how startups had to shift during the pandemic and more.

Editor’s note: This interview has been edited for length and clarity.

You call Unmuted a “modern” growth marketing agency. What do you do that makes your approach to marketing modern?

The way we help our clients is fundamentally different from how most traditional marketing agencies operate. At Unmuted, our clients don’t come to us to have their ideas executed; they come to us for our process. In a way, we’ve productized a growth marketing process that generates ideas for our clients. They find immense value in that process.

Depending on the customer’s team size and resources, we either guide them during execution or execute autonomously and report back. This process-based service model is, in our opinion, the only way to grow a business in a sustainable way.

“The way we help our clients is fundamentally different from how most traditional marketing agencies operate. “

In a practical sense, this is what that process boils down to: We take all that we’ve learned from fast-growing companies and apply these principles to our clients’ businesses. Typically we focus on what we call “innovative companies” — whether that’s because they have a SaaS offering or they’re an innovator within a traditional industry doesn’t really matter. The process we’ve designed works for B2B startups, scaleups and SMBs. That last category can benefit greatly from the way we work.

Our role, then, is threefold: We come up with strategies that we carry out by experimenting with several proven marketing tactics based on our extensive in-house knowledge and experience. This relieves our clients’ marketing teams of potentially stifling tunnel vision.

Our growth program typically unfolds in three stages as well, which we call the Foundation, Acceleration and Transformation stages. In the Foundation stage, we set up the fundamentals based on an extensive audit of the client’s business, and start out with our initial experiments. In the Acceleration stage, we scale the experiments that have shown promising early results. Finally, in the Transformation stage, we teach our clients how to continue growing their business themselves. If necessary, we stick around in a consulting role.

Your work at MisterGreen helped it grow about 10x. How much can a client expect to grow when working with you? How do you help clients set realistic goals?

Setting goals is always a challenge, especially when it comes to marketing. Why should you aim for a certain number? Why not aim higher, or lower, for that matter? At Unmuted, when we start working with a new client, we perform a series of exercises together. This helps us get a clear picture of where the client is now and where they could be when we’ve optimized marketing.

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Next, instead of fixed numbers, like a specific amount of new customers in a given period, we focus on growth levers, like month-over-month growth in certain conversion or activation areas. Focusing on growth levers makes our work more actionable.

We then construct a framework as part of our growth program that also allows room for certain beliefs a company has. I feel this “belief system” is truly essential to any growth marketing strategy. If you don’t allow room for gut feeling activities and only focus on data-driven projects, you will end up only working on things you can measure. We believe that growth marketing will become more effective when you also invest time and effort in channels and spaces you can’t necessarily measure.

When people talk about your solution on WhatsApp or during podcast episodes, that’s amazing and will effectively influence revenue, but sometimes there’s just no way to track these activities.

Finally, we don’t make any guarantees when it comes to growth results. That’s not how it works. We’ll always aim to maximize results as part of the process. Diligent focus on continuous improvement and optimization comes first. Results will automatically follow afterward.

For instance, we recently helped a B2B SaaS platform increase demo requests by 350%. But this wasn’t the goal at all. The process we were following was focused on optimizing every aspect of the demo request journey, from acquiring visitors to optimizing the demo page and more. Every experiment we ran increased the demo request metric to some extent. After six months, you start seeing these compounded results.

You were also the head of growth at ShopPop. How did that experience shape the way you help your clients?

Working for a fast-growing B2B SaaS company with a self-serve product taught me quite a few things. For starters, the importance of getting a really clear understanding of what sustainable growth looks like. Especially in growth marketing, there are a lot of things you can do to gain short-term results. But this doesn’t necessarily help, because you might be acquiring customers that you lose in the long run.

For example, running aggressive advertising campaigns in the early stages to acquire new users in sectors that you know won’t benefit considerably from your product. This type of superficial growth will come back in the form of churn sooner rather than later, and simply isn’t sustainable.

At Unmuted, when we start working with a new client, we put a lot of time and effort into understanding their best type of customers, what their problems are, and why that’s the case. Only then do we start looking at how to solve those problems with our client’s products or services.

You’re a guest lecturer at Nyenrode Business University and do speaking engagements as well. What do you hope people take away from your talks?

When I stand in front of a crowd during a speaking engagement, I always share stories about times where I took a pragmatic approach and did things differently. Growth can come in different shapes and forms, and although it often seems simple, it’s never easy. People, and especially management, have to understand that growth takes time and that you need failures to learn.

You need to have conversations to be able to learn and iterate. It’s better to have the wrong type of conversations than not having any at all. Without feedback, there’s no way to grow. And while an eagerness to learn comes naturally to most marketers, this isn’t necessarily the case for your average business person. If I can inspire audiences with my approach to growing by learning, I think that’s a great takeaway.

How have you seen startups change during the pandemic?

A lot of startups have been forced to change their approaches during the pandemic. Some have adapted successfully, while others are now stuck. I experienced it personally when I was still working at ShopPop, where we were focused on the music industry when the pandemic hit.

Music industry clients weren’t buying, for obvious reasons, so we had to pivot somehow. We ended up moving into e-commerce, which was, and still is, booming.

As the pandemic continues, what trends are you seeing in growth marketing?

The biggest trend I’m currently seeing is in the role marketing departments play. These have never been as important as they are now. Digital marketers, especially, are often the ones that come up with new ideas as to how a company can grow online. Nobody will know how the COVID-19 pandemic will play out, but in the meantime, every company is trying to adapt and find new ways to connect with their customers in unique, meaningful ways.

Logically, we’re seeing a surge in demand for online events like webinars and virtual summits. But everybody is doing those. So where can you carve out your own thing that becomes recognizable for your brand? Discovering these new channels and approaches — I think that should be the role of marketing.

How have you seen the startup market develop while working in growth?

The development of the startup market has been most noticeable in how new standards are being set. For example, startups have always been characterized as fast movers, but remote working and the rise of highly collaborative tools have further increased the speed at which startups operate. The whole industry transformed from speedboats into rocket ships. Talent became much more accessible, and through that internal cultures became more diverse and more resilient.

You can always depend on startups adopting new ways of working early on. They need to differentiate in order to survive, and a novel approach can be the one thing that makes them stand out from the crowd.

You have to understand that working at a startup often feels like you’re standing on the edge of a cliff. And that’s also the moment you’re at your most creative. I think this is also how growth marketing as a whole came about. In competitive markets, people have to fight for their right to exist. Marketing is often a way to radically differentiate. When people become really good at that, set new standards and raise the bar, the market develops as a whole.

What do startups continue to get wrong?

It’s been said many times before, but even today, most startups don’t learn quickly and deeply enough. Founders often have an amazing idea and vision of how things will play out. But how much field experience does this person really have? Enough to be able to foresee the future?

Usually, for startups, short-term growth goes well — they get some initial traction from their network, but then the next phase kicks in. Especially when there’s an investment involved, putting more pressure on the commercial side of things, this next phase will mean encountering a lot of hurdles.

When a company doesn’t find a strong enough product-market fit and doesn’t apply what its learned early on, things will get extremely tough. In this phase, a lot of research and experimentation is necessary. If the founding team isn’t up for this and they put their heads in the sand, the startup will deteriorate quickly.

On the other side: What are startups doing better now than ever before?

The best thing a startup can do, and I’m seeing it happen more and more, is investing in community early on. When I was leading growth at MisterGreen, we created a community for the first thousand Tesla Model 3 owners in the Netherlands. Everyone wanted to be a part of this founding tribe, learn from each other, get insights and so on.

This group turned out to be our most effective marketing tool. Word-of-mouth went through the roof. We had all of these people talking about our community at birthday parties, in their office, you name it. This is a great example of investing in marketing you can’t really measure, but which you do strongly believe in.

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Source: https://techcrunch.com/2021/07/28/unmuted-founder-max-van-den-ingh-on-success-beyond-the-metrics/

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Startups

Japanese sneaker platform SODA raises $56.4M, accquires rival Monokabu

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Just half a year after leading SODA’s Series B, SoftBank Ventures Asia is raising its bet on the Tokyo-based sneaker resell platform. The early-stage venture capital arm of SoftBank Group announced today it has returned to lead SODA’s Series C, which currently totals $56.4 million.

Other investors include South Korean sneaker reselling platform KREAM (another SoftBank Ventures Asia portfolio company), Altos Ventures and JAFCO.

Launched in 2018, SODA runs SNKRDUNK, one of Japan’s largest sneaker reselling platforms with about 2.5 million monthly users. Along with its new funding, SODA announced it has acquired rival Monokabu. SODA said that the deal means its share of Japan’s sneaker resale industry is now 80%, making it the market leader by far.

A SoftBank Ventures Asia spokesperson told TechCrunch the fund decided to invest in SODA again because the company’s growth has increased rapidly since its previous funding. SODA’s post-money valuation is now about 24 billion JPY, or about $218 million USD.

Part of SODA’s Series C funding will also be used to expand into other Asian markets, starting with Indonesia and the Philippines next year because both countries have growing e-commerce markets and a large percentage of Generation Zs, an ideal combination for SNKRDUNK.  

The company’s previous funding, its $22 million Series B, was announced in January. At the time, Uchiyama told TechCrunch demand for sneakers remained high despite the pandemic’s economic impact and increased adoption of online shopping also helped drive sales.

SODA claims it hit record sales of $34.7 million in May 2021, growing 900% year-over-year. Despite COVID-19, many sneaker C2C marketplaces, like StockX, have also seen their sales increase.

SNKRDUNK will work closely with KREAM to share knowledge about sneaker authentication, inventory management, logistics and other operations-related areas, with the goal of increasing their share of the Asian sneaker resell market.

In addition to KREAM and SODA, SoftBank Ventures Asia is also an investor in China-based sneaker trading platform Nice.

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Source: https://techcrunch.com/2021/07/28/japanese-sneaker-platform-soda-raises-56-4m-accquires-rival-monokabu/

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Techcrunch

Twitter shuttering NY, SF offices in response to new CDC guidelines

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Just two weeks after reopening its New York and San Francisco offices, social media giant Twitter said Wednesday that it will be closing those offices “immediately.”

The decision came “after careful consideration of the CDC’s updated guidelines, and in light of current conditions,” a spokesperson said.

“Twitter has made the decision to close our opened offices in New York and San Francisco as well as pause future office reopenings, effective immediately. We’re continuing to closely monitor local conditions and make necessary changes that prioritize the health and safety of our Tweeps,” the spokesperson added.

The company initially just reopened those offices on July 12. It declined to reveal headcount per office.

The CDC this week recommended that fully vaccinated people begin wearing masks indoors again in places with high Covid transmission rates amid concerns about the highly contagious Delta variant.

Earlier today, TechCrunch’s Brian Heater reported that Google CEO Sundar Pichai announced that the company will require employees to be vaccinated before returning to work on-site. It was part of a larger letter sent to Google/Alphabet staff that also noted the company will be extending its work-from-home policy through October 18, as the COVID-19 delta variant continues to sweep through the global population.

In a message to TechCrunch, Facebook’s VP of People, Lori Goler, confirmed a similar policy for the social media behemoth.

Amazon also responded to TechCrunch’s inquiry on the matter, noting, “We strongly encourage Amazon employees and contractors to be vaccinated as soon as COVID-19 vaccines are available to them.”

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
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Source: https://techcrunch.com/2021/07/28/twitter-shuttering-ny-sf-offices-in-response-to-new-cdc-guidelines/

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Gaming

Zuckerberg is turning trillion-dollar Facebook into a ‘metaverse’ company, he tells investors

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“I wanted to discuss this now so that you can see the future that we’re working towards and how our major initiative across the company are going to map to that,” Zuckerberg said on the call. “What is the metaverse? It’s a virtual environment where you can be present with people in digital spaces. You can kind of think of this as an embodied internet that you’re inside of rather than just looking at.”

These comments echoed an interview he gave to The Verge last week, detailing some of the company’s future goals.

The metaverse offers Facebook an opportunity to draw a line between its moonshot efforts and its core business, building a wide-reaching hub that shines on augmented reality and virtual reality platforms but feels just as friendly on mobile and desktop. Zuckerberg’s definition of metaverse is more broad than some others, but comes down to building a version of the web that feels more like an MMO than a collection of web pages.

Facebook Horizon World Builder

Early renders of Facebook’s Horizon platform. Image via Facebook.

It’s hard to imagine now, but Facebook was late to mobile. A decade ago, Facebook’s apps were buggy, crash-prone HTML5 experiences, even as smooth native mobile apps were quickly becoming the standard for major software makers. By 2012, Zuckerberg realized that apps were the future — quickly becoming the present — and the Facebook founder scrambled to turn the company’s attention toward mobile at every level. Facebook doesn’t intend to make the same mistake twice. That philosophy first became abundantly clear when the company bought the industry-leading VR hardware maker Oculus in 2014.

“Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow,” Zuckerberg said around the time of the two billion dollar acquisition. “Oculus has the chance to create the most social platform ever, and change the way we work, play and communicate.”

Becoming “a metaverse company” is a further evolution of this thinking. For many, Roblox has seemed to be the clearest embodiment of the metaverse today —  a social world where users can jump between virtual experiences while creating their own experiences inside it. It’s notably not a virtual reality experience instead thriving largely on mobile and desktop. Roblox’s vision has resonated with investors, the now-public company is worth more than $45 billion — a fraction of Facebook’s value but more than almost any other games company in the West.

Facebook has been signaling its continued interest in this space. In June they bought a Roblox-like platform called Crayta for an undisclosed sum, and they’ve spent much of the last several years buying up a host of VR-focused game studios.

The company has tried to build its own VR-centric social hubs but most have fallen flat. Facebook’s metaverse-like Horizon platform garnered major headlines when it was announced nearly two years ago, but the company has had little to say during its exceedingly quiet beta period. This week, Facebook’s Andrew Bosworth detailed that Gaming VP Vivek Sharma would be taking over the effort under a new metaverse-centric product group led by Instagram’s Vishal Shah.

There’s a very particular distinction in Facebook’s choice of rebranding itself as a “metaverse” company as opposed to an AR/VR one. While some might have seen specialized hardware as essential to a spatial internet, it’s become increasingly clear that users aren’t clamoring to embrace early headsets even as other new gaming platforms greatly accelerate their growth. While the company’s Quest 2 headset has sold much better than its previous devices — according to Facebook which has yet to release any hard sales numbers — it’s unclear whether they truly need a world full of users with Facebook glasses and headsets strapped to their faces in order to embrace this metaverse ideal — or whether that would just be the cherry on top.

PlatoAi. Web3 Reimagined. Data Intelligence Amplified.
Click here to access.

Source: https://techcrunch.com/2021/07/28/zuckerberg-is-turning-trillion-dollar-facebook-into-a-metaverse-company-he-tells-investors/

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