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Technology
G2 Crowd, a platform that lets businesses search for, compare reviews and pricing for, and then buy software and other IT services — it likes to refer to itself as the &Amazon of business software& — has raised $55 million in growth funding to continue expanding its business.
This round was led by IVP, with participation from enterprise VC Emergence Capital and Accel (Accel led its previous round, which also included LinkedIn as an investor), and brings the company &close to half a billion-dollar valuation,& according to a source close to the company.
This is a big leap: In May 2017, when it last raised money, G2 Crowd was valued at $130 million post-money, according to PitchBook.
The rise of that valuation underscores just how fragmented and competitive the market is for business software today, and how a company that provides a useful way to navigate through that has a very good shot at building a lucrative business.
More generally, a vertical search engine filling a gap in the market and that actually works remains a killer app, despite the dominance of Google in so many areas of search, and of Amazon in so many areas of online commerce.
The other big leap that G2 Crowd has seen has been in its growth in the last 16 months.
Software reviews are a core part of what it offers to people who come to the site — the company likes to compare itself to Amazon, but I&ve previously described it as the Glassdoor of software reviews — and today it has500,000 verified-user reviews free to browse on its site. Thatmore than double the 225,000 reviews it had in May 2017. It has traffic of 2 million &business professionals& monthly, who go to G2 Crowd to browse 58,500 products across 1,200 categories. G2 Crowd also happens to have a very strong SEO game at the moment, with a top slot when you input searches like &Workday competitor.&
While SEO and software comparisons are what might bring in users, what makes money for G2 is that many of them stay to shop for software, and that is what the company will continue building out with this funding.
&We started as a way to help companies make better buying decisions. Now, the focus is on helping them reach their potential through digital transformation, more quickly than ever,& said Godard Abel, CEO and co-founder of G2 Crowd.
It plans to use the funding to ramp up hiring, expand internationally in Europe and Asia and make some acquisitions. &We have our eyes on a few companies that are complementary to our vision and mission,& CMO Ryan Bonnici tells me.
&When it comes to marketplaces, in todaybusiness climate itwinner takes all. What Amazon is for consumers, G2 Crowd is becoming for businesses: the place to discover and buy the best business solutions,& said IVP General Partner Jules Maltz, in a statement. &G2 Crowd is disrupting the $3.7 trillion enterprise technology market for buying and selling business solutions, one of the fastest-growing sectors of the global economy. Small businesses to large enterprises like Nike and Facebook trust G2 Crowd to discover and buy the best solutions for their business.& Maltz is also joining the board with this round.
There are, of course, others that offer similar services to G2, with companies like IDC, Forrester and Gartner being strong contenders for enterprises who are evaluating IT purchasing decisions, and others like Owler also hanging in the wings. Investors believe G2 Crowd is king at the moment, though.
&G2 Crowd has the highest traffic and engagement, largest selection of products and services, and highest quality data of any B2B marketplace,& Jason Green at Emergence, said in a statement. &G2 Crowd is already growing at an incredible rate, and this latest funding round will only help them build the next Amazon for business even faster.&
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The effortless way you fast forward through Stories could be coming to more of Instagram . A screenshot from user Suprateek Bose shows Instagram &Introducing a new way to move through posts — Tap through posts, just like you tap through stories.&
Now Instagram confirms to TechCrunch that ittesting tap to advance within Explore, and a spokesperson provided this statement: &We&re always testing ways to improve the experience on Instagram and bring you closer to the people and things you love.& As for whether this could come to the main feed, an Instagram spokesperson tells me that not something itactively thinking about right now.
Instagram already uses an auto-advance feature in its Videos You Might Like section of Explore, jumping down to the next video when the last one finishes. It previously offered themed video collections around Halloween and top creators too. But for photos where itnot clear when you&re done viewing, a quick tap is the closest thing to Instagram propelling you through posts automatically.
Tap to advance, pioneered by Snapchat, eliminates the need for big thumbstrokes on your touch screen that can get tiring after awhile. It also means users always see media full-screen rather than having to fiddle with scrolling the perfect amount to see an entire post. Together, these create a more relaxing browsing experience that can devour hours of a usertime. Instagram doesn&t show ads in Explore, but tap-to-advance could save your thumb stamina for more feed and Stories viewing where it does earn money. While Snapchat remains the teen favorite, Instagram could cater to seniors with arthritis with this new method of navigation (no, seriously, swiping can be tough on the joints for some people).
The fact that tap-to-advance is now testing but Instagram still hasn&t actually rolled out the Your Activity screentime digital well-being dashboard it says was launching two months ago begs the question of whether it really wants us to be more purposeful with our social media usage.
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Read more: Instagram tests tapping instead of scrolling through posts, first in Explore
Write comment (94 Comments)As battle royale games like Fortnite pit more players against each other, studios are starting to realize the potential of bringing a massive online audience together at one time. This ambition has always existed, but Improbable, a well-funded startup aiming to enable these vast online worlds, is looking to bring these experiences to more game developers.
Improbable has announced that it is bringing a game development kit for its SpatialOS multiplayer platform to Unity, a popular game development platform used to create about half of new video games.
Improbable has some pretty grand ambitions for multi-player gaming and they&ve raised some grand venture capital to make that happen. The London startup has raised just over $600 million for their vision to enable digital worlds with vast expanses of concurrent users. The companySpatialOS platform allows single instances of an online game to run across multiple servers, essentially stitching a world together with each server keeping an eye on the other, allowing for hundreds of users to see each other and their in-game actions translated in a persistent way on systems across the globe.
The companytech opens the door for a lot of game developers to become more ambitious. There are several developers who have released titles on the platform.
Todaynews is a major step for the company, leveraging the popularity of Unity with a lot of younger studios to enable easier MMO development on an engine that is very popular with a wide range of developers. SpatialOS was previously available in a more limited, experimental scope on Unity. It also supports some development on Unreal Engine and CryEngine.
With todayrelease, developers building with SpatialOS can craft games that allow for up to 200 players. The game development kit gives developers multiplayer networking and some other related features to expand the playing field, or at least further populate it. Improbableinvolvement goes far beyond just facilitating a download; a game built for SpatialOS will be hosted on Improbableservers, where it can be maintained via its host of web tools.
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Read more: Improbable brings its massive multiplayer platform to Unity game engine
Write comment (99 Comments)Police investigating the missing Saudi journalist Jamal Khashoggi are searching for his Apple Watch to obtain his health and location data before his disappearance. But that may prove impossible, according to new details learned by TechCrunch.
The Saudi-born U.S. resident and Washington Post columnistwent missing last week after he entered the Saudi consulate in Istanbul, reportedly to obtain marriage papers. His soon-to-be wife was waiting outside the consulate with KhashoggiiPhone.
Khashoggi never emerged from the consulate, sparking a manhunt. It has been reported but not confirmed that he was killed inside the consulate. The Washington Post reports that U.S. intercepts showed efforts by the Saudi crown prince Mohammad bin Salman to lure the reporter back to the kingdom and detain him.
Khashoggi was a vocal critic of the Saudi government. The Saudi kingdom has denied any involvement with his disappearance.
On Wednesday, Reuters reported, citing Turkish officials, that investigators were looking to Khashoggiblack Apple Watch that he was wearing as he entered the consulate. The inference was that any data collected by the Apple Watch could glean answers into health data, such as his heart rate, location or other clues.
Turkey does not have the watch, Reuters said, suggesting it may have been lost, destroyed or remains in the custody of Saudi authorities.
TechCrunch staff have scoured several photo libraries and social media and found one image of Khashoggi wearing a third-generation Apple Watch — based on the red dot on the watchcrown. The 2017 model comes with an optional LTE connection.

Jamal Khashoggi in Istanbul, Turkey in May 2018 wearing a third-generation Apple Watch. (Image: Al Sharq Forum/Twitter)
But even if Khashoggi entered the Saudi consulate wearing that model, a third-generation Apple Watch does not support cellular connections in Turkey, effectively ruling out any chance that his health data synced either with his iPhone outside or Appleservers.
Italso unlikely that the watch connected to a known Wi-Fi network inside the consulate, or that the watch was within close enough range to sync with his iPhone outside using Bluetooth.
In any case, if health data from Khashoggiwatch was transmitted over the air to AppleiCloud where it could be synced with his iPhone, the data is end-to-end encrypted with his passcode.
Not even Apple — and therefore law enforcement — can access this data, meaning any evidence of his whereabouts will be on his iPhone.
There have been several cases of watches and fitness trackers helping authorities find missing persons, as well ashelp secure prosecutions. As much as wearables help track a personfitness and activity, they store and transmit data thatoften stored in the cloud. That data is often obtainable by law enforcement, which critics say is a privacy risk.
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Read more: Why missing Saudi journalist’s Apple Watch is an interesting, but unlikely, lead
Write comment (100 Comments)What if you could peek behind whatin your photos, like you&re moving your head to see whatinside a window Thatthe futuristic promise of Facebook 3D photos. After announcing the feature at F8 in May, Facebook is now rolling out 3D photos to add make-believe depth to your iPhone portrait mode shots.Shoot one, tap the new 3D photos option in the status update composer, select a portrait mode photo and users on the desktop or mobile News Feed as well as in VR through Oculus Gobrowser or Firefox on Oculus Rift can tap/click and drag or move their head to see the photodepth. Everyone can now view 3D photos and the ability to create them will open to everyone in the coming weeks.
Facebook is constantly in search of ways to keep the News Feed interesting. What started with text and photos eventually expanded into videos and live broadcasts, and now to 360 photos and 3D photos. Facebook hopes if itthe exclusive social media home for these new kinds of content, you&ll come back to explore and rack up some ad views in the meantime. Sometimes that means embracing mind-bending new formats like VR memories that recreate a scene in digital pointillism based on a photo.
So how exactly do 3D photos work Our writer Devin Coldewey did a deep-dive earlier this year into how Facebook uses AI to stitch together real layers of the photo with what it infers should be there if you tilted your perspective. Since portrait mode fires off both of a phonecameras simultaneously, parallax differences can be used to recreate whatbehind the subject.
To create the best 3D photos with your iPhone 7+, 8+, X or XS (more phones will work with the feature in the future), Facebook recommends you keep your subject three to four feet away, and have things in the foreground and background. Distinct colors will make the layers separate better, and transparent or shiny objects like glass or plastic can throw off the AI.
Originally, the idea was to democratize the creation of VR content. But with headset penetration still relatively low, itthe ability to display depth in the News Feed that will have the greatest impact for Facebook. In an era where Facebookcool is waning, hosting next-generation art forms could make it a must-visit property even as more of our socializing moves to Instagram.
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Read more: Facebook rolls out 3D photos that use AI to simulate depth
Write comment (95 Comments)Audit giant PwC is the latest mainstream firm to show new interest in digital currencies. This week it announced apartnershipwith decentralized lending platform Cred to advise on better standards for stablecoins.
While details of the partnership are light, Cred is working on its own stablecoin tied to the U.S. dollar, and is hoping to avoid the mistakes of certain competitors by ensuring confidence in its operations from the ground up.
PwCoverall interest here is to build broader trust so it can help millions of new users gain digital assets — and presumably create new revenue streams for its global professional services business in the process.
Like IBM and other companies large and small that are looking at stablecoins today, PwC is attracted to the blend of traditional and new monetary systems. Stablecoins are digital currencies pegged to a stable asset, such as gold or fiat currencies, or backed by collateral (that could also be a cryptocurrency); the arrangement is analogous to how some countries peg their national currencies to the dollar.
&Many investors are looking for crypto assets that can be pegged to a stable fiat currency such as the US dollar,& PwC and Cred said in the announcement. &But these assets require a reserve ledger built for decentralized assets, that can provide 100% transparency and value substantiation. PwCexperience will provide valuable perspective on how standards can be enhanced to facilitate a more transparent set of reserve functions, stablecoins and deposit and yield products.&
PwC did not comment when we asked whether it has explored partnerships with other stablecoins, nor did it comment on the profile of customers that are looking to adopt these consulting solutions.
Today, stablecoin adoption and real-world implementation are still in the early stages. Despite more stablecoins getting introduced this year, there has not yet been any set of standards established for the space. Some stablecoins that have tried to go through traditional procedures, such as reserve auditing processes, have gone awry thus far, most famously Tether.
Still, optimism seems to be growing. Stablecoins have been in development for some time in the U.S., with multiple companies raising large sums of money to create a price-stable coin since early this year, including Carbon, MakerDAO and TrustToken. The company Basis appears to have raised the most to date, in a whopping $133 million roundfrom top venture firms and financiers announced six months ago.
So far, stablecoin project teams have generally been heads-down developing detailed mechanics of their own coins, and they have been independently working with regulators to ascertain the future of stablecoins and their role in it.
Hence the lack of standardization. In most of the stablecoin teams& mind, there should be only one or just a few stablecoin winners that could capture most of the mind share, and create products and an ecosystem that uses its cryptocurrency. This creates an invisible divide in the ecosystem, with the coins and tokens all trying to outcompete each other.
One outlier in the market has been USDT, a widely tradable stablecoin created by Tether, a company run by the same executives behind the exchange BitFinex&ed. Tether has been criticized for its failure to prove that the reserve has enough USD to back its digital currency on a one-to-one ratio, which it promises for its dollar-pegged cryptocurrency.
Among other issues this year, Tether &dissolved& its relationship with its first auditors, Friedman LLP, without an audit ever being completed. It then commissioned a law firm, not an auditor, to review its reserve balances. The result was its proof of funds& &transparency update& highlighting that it should not be construed as the results of an audit. For more details, check out TechCrunchwriteup back in August.
Meanwhile, PwC is just one of the traditional parties hoping to clean up stablecoins for mass adoption.
IBM most recently announced its exploration into stablecoins through a collaboration with Stellar by building a stablecoin on the Stellar blockchain. Additionally, a number of stablecoins have come out in the last few months, from the crypto exchange Gemini issuing the Gemini Dollar and financial blockchain solution Paxos issuing the Paxos Standard. There are also other stablecoins such as Terra, which is looking to implement a stablecoin through e-commerce.
Cred, for its part, has already been busy laying a strong foundation. It is founded by former PayPal financial technology veterans, with the mission to harness the power of blockchain to allow everyone to benefit from low-cost credit products. The team at Cred did not comment on whether they have worked with a consulting partner before, but they are currently in conversation with other consulting firms.
Cred is also the founding member of the UP Alliance, consisting of Uphold, Cred, Blockchain at Berkeley and Brave. Earlier this year, the Alliance announced a universal transparent reserve and custody standard that introduces what it calls &proxy& digital assets to the world, via the Universal Protocol Platform.
Given that cryptocurrency price volatility continues to be an obstacle for institutions looking to adopt the technology, it is likely that other financial and consulting institutions will turn to stablecoins as a way to support their existing customers and bring in interested new customers.
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Read more: With Cred partnership, PwC wants to help make stablecoins legit
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