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Technology
In only a few short months — on September 5-7 — TechCrunch will play host to more than 10,000 members of the tech startup community at Disrupt San Francisco 2018. Our flagship event draws the best and brightest early-stage founders looking to launch, and investors to fund, their companies. Making the right connections in just three program-packed days can be a challenge, which is why we created CrunchMatch, a curated business match-making service that helps connect the founders with investors who share similar business goals.
Herehow CrunchMatch works.
When founders register for Disrupt SF, they&ll get access to the CrunchMatch platform and provide information about their company — its tech category, funding stage, where itlocated and its current funding status.
When investors register for Disrupt SF, they&ll also get access to the platform to create a profile specifying their investment categories, the funding stage they&re looking for and their preferred geographic locations. CrunchMatch, powered by our partner Brella, uses algorithmic magic to match suitable founders and investors based on the profile information they provide.
The CrunchMatch platform then suggests meetings, and it even sends out the invitations, which you can easily accept or decline as you please. Whatmore, you can use CrunchMatch to reserve a meeting space in ourCrunchMatch area on the Disrupt show floor. CrunchMatch is the most efficient way to cut through the clutter and get to the people who are most likely to meet your business criteria.
Last year, CrunchMatch produced more than 1,300 meetings. We estimate that number will easily triple at Disrupt SF 2018. Now, big numbers are all well and good, but itthe results that matter. Is the service helpful We asked for feedback from both sides of the founder/investor coin.
Michael Kocan, an early-stage investor at Trend Discovery, appreciated the serviceefficiency:
I can quickly schedule a meeting for later that day. I had over 35 meetings with startups that I pre-vetted using CrunchMatch, and I made a significant investment in one.
As an early-stage founder, Luke Heron, CEO of TestCard.com, used the service to schedule a full dayworth of meetings:
We used the CrunchMatch platform to schedule a bunch of meetings on our second day of the show. We met with six or seven VCs and, by and large, they were very positive meetings.
Stroll through Startup Alley — the heart of Disrupt with more than 1,200 pre-series A startups and sponsors — to see whatnew, but with this match-making tool in your networking arsenal, you&ll save time — and shoe leather — by targeting the right companies or investors for your specific needs.
Disrupt SF 2018takes place in San Francisco on September 5-7 at Moscone Center West. Don&t miss out on the most efficient way for founders and investors to network and connect.Buy a Founder, Investor, Startup Alley Exhibitor Package or Insider Pass to Disrupt SF and you&ll be invited to fill out a CrunchMatch profile.
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Read more: Meet founders and investors at Disrupt SF 2018 with CrunchMatch
Write comment (99 Comments)I&m not sure if you&re aware, but the launch of Apple Maps went poorly. After a rough first impression, an apology from the CEO, several years of patching holes with data partnerships and some glimmers of light with long-awaited transit directionsand improvements in business, parking and place data, Apple Maps is still not where it needs to be to be considered a world class service.
Maps needs fixing.
Apple, it turns out, is aware of this, soItre-building the maps part of Maps.
Itdoing this by using first-party data gathered by iPhones with a privacy-first methodology and its own fleet of cars packed with sensors and cameras. The new product will launch in San Francisco and the Bay Area with the next iOS 12 Beta and will cover Northern California by fall.
Every version of iOS will get the updated maps eventually and they will be more responsive to changes in roadways and construction, more visually rich depending on the specific context they&re viewed in and feature more detailed ground cover, foliage, pools, pedestrian pathways and more.
This is nothing less than a full re-set of Maps and itbeen 4 years in the making, which is when Apple began to develop its new data gathering systems. Eventually, Apple will no longer rely on third-party data to provide the basis for its maps, which has been one of its major pitfalls from the beginning.
&Since we introduced this six years ago — we won&t rehash all the issues we&ve had when we introduced it — we&ve done a huge investment in getting the map up to par,& says Apple SVP Eddy Cue, who now owns Maps in an interview last week. &When we launched, a lot of it was all about directions and getting to a certain place. Finding the place and getting directions to that place. We&ve done a huge investment of making millions of changes, adding millions of locations, updating the map and changing the map more frequently. All of those things over the past six years.&
But, Cue says, Apple has room to improve on the quality of Maps, something that most users would agree on, even with recent advancements.
&We wanted to take this to the next level,& says Cue. &We have been working on trying to create what we hope is going to be the best map app in the world, taking it to the next step. That is building all of our own map data from the ground up.&
In addition to Cue, I spoke to Apple VP Patrice Gautier and over a dozen Apple Maps team members at its mapping headquarters in California this week about its efforts to re-build Maps, and to do it in a way that aligned with Applevery public stance on user privacy.
If, like me, you&re wondering whether Apple thought of building its own maps from scratch before it launched Maps, the answer is yes. At the time, there was a choice to be made about whether or not it wanted to be in the business of Maps at all. Given that the future of mobile devices was becoming very clear, it knew that mapping would be at the core of nearly every aspect of its devices from photos to directions to location services provided to apps. Decision made, Apple plowed ahead, building a product that relied on a patchwork of data from partners like TomTom, OpenStreetMap and other geo data brokers. The result was underwhelming.
Almost immediately after Apple launched Maps, it realized that it was going to need help and it signed on a bunch of additional data providers to fill the gaps in location, base map, point-of-interest and business data.
It wasn&t enough.
&We decided to do this just over four years ago. We said, &Where do we want to take Maps What are the things that we want to do in Maps We realized that, given what we wanted to do and where we wanted to take it, we needed to do this ourselves,& says Cue.
Because Maps are so core to so many functions, success wasn&t tied to just one function. Maps needed to be great at transit, driving and walking — but also as a utility used by apps for location services and other functions.
Cue says that Apple needed to own all of the data that goes into making a map, and to control it from a quality as well as a privacy perspective.
Therealso the matter of corrections, updates and changes entering a long loop of submission to validation to update when you&re dealing with external partners. The Maps team would have to be able to correct roads, pathways and other updating features in days or less, not months. Not to mention the potential competitive advantages it could gain from building and updating traffic data from hundreds of millions of iPhones, rather than relying on partner data.
Cue points to the proliferation of devices running iOS, now numbering in the millions, as a deciding factor to shift its process.
&We felt like because the shift to devices had happened — building a map today in the way that we were traditionally doing it, the way that it was being done — we could improve things significantly, and improve them in different ways,& he says. &One is more accuracy. Two is being able to update the map faster based on the data and the things that we&re seeing, as opposed to driving again or getting the information where the customerproactively telling us. What if we could actually see it before all of those things&
I query him on the rapidity of Maps updates, and whether this new map philosophy means faster changes for users.
&The truth is that Maps needs to be [updated more], and even are today,& says Cue. &We&ll be doing this even more with our new maps, [with] the ability to change the map real-time and often. We do that every day today. This is expanding us to allow us to do it across everything in the map. Today, therecertain things that take longer to change.
&For example, a road network is something that takes a much longer time to change currently. In the new map infrastructure, we can change that relatively quickly. If a new road opens up, immediately we can see that and make that change very, very quickly around it. Itmuch, much more rapid to do changes in the new map environment.&
So a new effort was created to begin generating its own base maps, the very lowest building block of any really good mapping system. After that, Apple would begin layering on living location data, high resolution satellite imagery and brand new intensely high resolution image data gathered from its ground cars until it had what it felt was a ‘best in class& mapping product.
There is only really one big company on earth who owns an entire map stack from the ground up: Google .
Apple knew it needed to be the other one. Enter the vans.
Apple vans spotted
Though the overall project started earlier, the first glimpse most folks had of Applerenewed efforts to build the best Maps product was the vans that started appearing on the roads in 2015 with ‘Apple Maps& signs on the side. Capped with sensors and cameras, these vans popped up in various cities and sparked rampant discussion and speculation.
The new Apple Maps will be the first time the data collected by these vans is actually used to construct and inform its maps. This is their coming out party.
Some people have commented that Applerigs look more robust than the simple GPS + Camera arrangements on other mapping vehicles — going so far as to say they look more along the lines of something that could be used in autonomous vehicle training.
Apple isn&t commenting on autonomous vehicles, but therea reason the arrays look more advanced: they are.
Earlier this week I took a ride in one of the vans as it ran a sample route to gather the kind of data that would go into building the new maps. Herewhatinside.
In addition to a beefed up GPS rig on the roof, four LiDAR arrays mounted at the corners and 8 cameras shooting overlapping high-resolution images & therealso the standard physical measuring tool attached to a rear wheel that allows for precise tracking of distance and image capture. In the rear there is a surprising lack of bulky equipment. Instead, ita straightforward Mac Pro bolted to the floor, attached to an array of solid state drives for storage. A single USB cable routes up to the dashboard where the actual mapping capture software runs on an iPad.
While mapping, a driver…drives, while an operator takes care of the route, ensuring that a coverage area that has been assigned is fully driven and monitoring image capture. Each drive captures thousands of images as well as a full point cloud (a 3D map of space defined by dots that represent surfaces) and GPS data. I later got to view the raw data presented in 3D and it absolutely looks like the quality of data you would need to begin training autonomous vehicles.
More on why Apple needs this level of data detail later.
When the images and data are captured, they are then encrypted on the fly immediately and recorded on to the SSDs. Once full, the SSDs are pulled out, replaced and packed into a case which is delivered to Appledata center where a suite of software eliminates private information like faces, license plates and other info from the images. From the moment of capture to the moment they&re sanitized, they are encrypted with one key in the van and the other key in the data center. Technicians and software that are part of its mapping efforts down the pipeline from there never see unsanitized data.
This is just one element of Applefocus on the privacy of the data it is utilizing in New Maps.
Probe data and Privacy
Throughout every conversation I have with any member of the team throughout the day, privacy is brought up, emphasized. This is obviously by design as it wants to impress upon me as a journalist that ittaking this very seriously indeed, but it doesn&t change the fact that itevidently built in from the ground up and I could not find a false note in any of the technical claims or the conversations I had.
Indeed, from the data security folks to the people whose job it is to actually make the maps work well, the constant refrain is that Apple does not feel that it is being held back in any way by not hoovering every piece of customer-rich data it can, storing and parsing it.
The consistent message is that the team feels it can deliver a high quality navigation, location and mapping product without the directly personal data used by other platforms.
&We specifically don&t collect data, even from point A to point B,& notes Cue. &We collect data — when we do it —in an anonymous fashion, in subsections of the whole, so we couldn&t even say that there is a person that went from point A to point B. We&re collecting the segments of it. As you can imagine, thatalways been a key part of doing this. Honestly, we don&t think it buys us anything [to collect more]. We&re not losing any features or capabilities by doing this.&
The segments that he is referring to are sliced out of any given personnavigation session. Neither the beginning or the end of any trip is ever transmitted to Apple. Rotating identifiers, not personal information, are assigned to any data or requests sent to Apple and it augments the ‘ground truth& data provided by its own mapping vehicles with this ‘probe data& sent back from iPhones.
Because only random segments of any persondrive is ever sent and that data is completely anonymized, there is never a way to tell if any trip was ever a single individual. The local system signs the IDs and only it knows who that ID refers to. Apple is working very hard here to not know anything about its users. This kind of privacy can&t be added on at the end, it has to be woven in at the ground level.
Because Applebusiness model does not rely on it serving, say, an ad for a Chevron on your route to you, it doesn&t need to even tie advertising identifiers to users.
Any personalization or Siri requests are all handled on-board by the iOS deviceprocessor. So if you get a drive notification that tells you ittime to leave for your commute, thatlearned, remembered and delivered locally, not from Appleservers.
Thatnot new, but itimportant to note given the new thing to take away here: Apple is flipping on the power of having millions of iPhones passively and actively improving their mapping data in real time.
In short: traffic, real-time road conditions, road systems, new construction and changes in pedestrian walkways are about to get a lot better in Apple Maps.
The secret sauce here is what Apple calls probe data. Essentially little slices of vector data that represent direction and speed transmitted back to Apple completely anonymized with no way to tie it to a specific user or even any given trip. Itreaching in and sipping a tiny amount of data from millions of users instead, giving it a holistic, real-time picture without compromising user privacy.
If you&re driving, walking or cycling, your iPhone can already tell this. Now if it knows you&re driving it can also send relevant traffic and routing data in these anonymous slivers to improve the entire service. This only happens if your maps app has been active, say you check the map, look for directions etc. If you&re actively using your GPS for walking or driving, then the updates are more precise and can help with walking improvements like charting new pedestrian paths through parks — building out the mapoverall quality.
All of this, of course, is governed by whether you opted into location services and can be toggled off using the maps location toggle in the Privacy section of settings.
Apple says that this will have a near zero effect on battery life or data usage, because you&re already using the ‘maps& features when any probe data is shared and ita fraction of what power is being drawn by those activities.
From the point cloud on up
But maps cannot live on ground truth and mobile data alone. Apple is also gathering new high resolution satellite data to combine with its ground truth data for a solid base map. Itthen layering satellite imagery on top of that to better determine foliage, pathways, sports facilities, building shapes and pathways.
After the downstream data has been cleaned up of license plates and faces, it gets run through a bunch of computer vision programming to pull out addresses, street signs and other points of interest. These are cross referenced to publicly available data like addresses held by the city and new construction of neighborhoods or roadways that comes from city planning departments.
But one of the special sauce bits that Apple is adding to the mix of mapping tools is a full on point cloud that maps the world around the mapping van in 3D. This allows them all kinds of opportunities to better understand what items are street signs (retro-reflective rectangular object about 15 feet off the ground Probably a street sign) or stop signs or speed limit signs.
It seems like it could also enable positioning of navigation arrows in 3D space for AR navigation, but Apple declined to comment on ‘any future plans& for such things.
Apple also uses semantic segmentation and Deep Lambertian Networks to analyze the point cloud coupled with the image data captured by the car and from high-resolution satellites in sync. This allows 3D identification of objects, signs, lanes of traffic and buildings and separation into categories that can be highlighted for easy discovery.
The coupling of high resolution image data from car and satellite, plus a 3D point cloud results in Apple now being able to produce full orthogonal reconstructions of city streets with textures in place. This is massively higher resolution and easier to see, visually. And itsynchronized with the ‘panoramic& images from the car, the satellite view and the raw data. These techniques are used in self driving applications because they provide a really holistic view of whatgoing on around the car. But the ortho view can do even more for human viewers of the data by allowing them to ‘see& through brush or tree cover that would normally obscure roads, buildings and addresses.
This is hugely important when it comes to the next step in Applebattle for supremely accurate and useful Maps: human editors.
Apple has had a team of tool builders working specifically on a toolkit that can be used by human editors to vet and parse data, street by street. The editorsuite includes tools that allow human editors to assign specific geometries to flyover buildings (think Salesforce towerunique ridged dome) that allow them to be instantly recognizable. It lets editors look at real images of street signs shot by the car right next to 3D reconstructions of the scene and computer vision detection of the same signs, instantly recognizing them as accurate or not.
Another tool corrects addresses, letting an editor quickly move an address to the center of a building, determine whether they&re misplaced and shift them around. It also allows for access points to be set, making Apple Maps smarter about the ‘last 50 feet& of your journey. You&ve made it to the building, but what street is the entrance actually on And how do you get into the driveway With a couple of clicks, an editor can make that permanently visible.
&When we take you to a business and that business exists, we think the precision of where we&re taking you to, from being in the right building,& says Cue. &When you look at places like San Francisco or big cities from that standpoint, you have addresses where the address name is a certain street, but really, the entrance in the building is on another street. They&ve done that because they want the better street name. Those are the kinds of things that our new Maps really is going to shine on. We&re going to make sure that we&re taking you to exactly the right place, not a place that might be really close by.&
Water, swimming pools (new to Maps entirely), sporting areas and vegetation are now more prominent and fleshed out thanks to new computer vision and satellite imagery applications. So Apple had to build editing tools for those as well.
Many hundreds of editors will be using these tools, in addition to the thousands of employees Apple already has working on maps, but the tools had to be built first, now that Apple is no longer relying on third parties to vet and correct issues.
And the team also had to build computer vision and machine learning tools that allow it to determine whether there are issues to be found at all.
Anonymous probe data from iPhones, visualized, looks like thousands of dots, ebbing and flowing across a web of streets and walkways, like a luminescent web of color. At first, chaos. Then, patterns emerge. A street opens for business, and nearby vessels pump orange blood into the new artery. A flag is triggered and an editor looks to see if a new road needs a name assigned.
A new intersection is added to the web and an editor is flagged to make sure that the left turn lanes connect correctly across the overlapping layers of directional traffic. This has the added benefit of massively improved lane guidance in the new Apple Maps.
Apple is counting on this combination of human and AI flagging to allow editors to first craft base maps and then also maintain them as the ever changing biomass wreaks havoc on roadways, addresses and the occasional park.
Here there be Helvetica
Applenew Maps, like many other digital maps, display vastly differently depending on scale. If you&re zoomed out, you get less detail. If you zoom in, you get more. But Apple has a team of cartographers on staff that work on more cultural, regional and artistic levels to ensure that its Maps are readable, recognizable and useful.
These teams have goals that are at once concrete and a bit out there — in the best traditions of Apple pursuits that intersect the technical with the artistic.
The maps need to be usable, but they also need to fulfill cognitive goals on cultural levels that go beyond what any given user might know they need. For instance, in the US, it is very common to have maps that have a relatively low level of detail even at a medium zoom. In Japan, however, the maps are absolutely packed with details at the same zoom, because that increased information density is what is expected by users.
This is the department of details. They&ve reconstructed replicas of hundreds of actual road signs to make sure that the shield on your navigation screen matches the one you&re seeing on the highway road sign. When it comes to public transport, Apple licensed all of the type faces that you see on your favorite subway systems, like Helvetica for NYC. And the line numbers are in the exact same order that you&re going to see them on the platform signs.
Itall about reducing the cognitive load that it takes to translate the physical world you have to navigate through into the digital world represented by Maps.
Bottom line
The new version of Apple Maps will be in preview next week with just the Bay Area of California going live. It will be stitched seamlessly into the ‘current& version of Maps, but the difference in quality level should be immediately visible based on what I&ve seen so far.
Better road networks, more pedestrian information, sports areas like baseball diamonds and basketball courts, more land cover including grass and trees represented on the map as well as buildings, building shapes and sizes that are more accurate. A map that feels more like the real world you&re actually traveling through.
Search is also being revamped to make sure that you get more relevant results (on the correct continents) than ever before. Navigation, especially pedestrian guidance, also gets a big boost. Parking areas and building details to get you the last few feet to your destination are included as well.
What you won&t see, for now, is a full visual redesign.
&You&re not going to see huge design changes on the maps,& says Cue. &We don&t want to combine those two things at the same time because it would cause a lot of confusion.&
Apple Maps is getting the long awaited attention it really deserves. By taking ownership of the project fully, Apple is committing itself to actually creating the map that users expected of it from the beginning. Itbeen a lingering shadow on iPhones, especially, where alternatives like Google Maps have offered more robust feature sets that are so easy to compare against the native app but impossible to access at the deep system level.
The argument has been made ad nauseam, but itworth saying again that if Apple thinks that mapping is important enough to own, it should own it. And thatwhat ittrying to do now.
&We don&t think thereanybody doing this level of work that we&re doing,& adds Cue. &We haven&t announced this. We haven&t told anybody about this. Itone of those things that we&ve been able to keep pretty much a secret. Nobody really knows about it. We&re excited to get it out there. Over the next year, we&ll be rolling it out, section by section in the US.&
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Write comment (97 Comments)Twitter has a new product manager, the wake of a large re-org of the company announced this week. The changes will see Twitter dividing its business into groups including engineering, product, revenue product, design and research, and more, while also bringing on Kayvon Beykpour, the GM of video and former Periscope CEO, as product head.
Beykpour will replaceEd Ho, vice president of product and engineering, as Ho steps down into a part-time role. In a series of tweets, Ho explains his decision was based on a family loss, and says he hopes to return full-time in the future. He had been on leave from Twitter since May.
As Recode noted, these change will make Beykpour is the sixth exec to head up product since early 2014.
Meanwhile, Hoother role & head of engineering & will now be overseen by Mike Montano, who is stepping up from product engineering.
Twitter CEOannouncement of the changes, below, was tweeted out on Thursday:
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Write comment (95 Comments)TrendKite is making its first two acquisitions — according to CEO Erik Huddleston, they give the company &the last two components& needed for a complete PR analytics platform.
Until now, TrendKitemain selling point was the ability to look at the articles written about a company and measure things like the audience reached and the impact on brand awareness.
But while that kind of journalistic coverage remains important, Huddleston said, &The world now is more complicated in terms of who has influence on the public.&Thatwhere Insightpool and its database of social media influencers comes in, allowing PR teams to find and pitch influencers who can help spread the companystory.
Union Metrics, meanwhile, provides social media analytics. As Huddleston put it, &they do the same analytics about the conversation around the story as we do around the media coverage.&
With these acquisitions, he said TrendKite can build deeper integrations with products that were already being used together. In fact, he noted that the company had an existing partnership with Union Metrics, and he started thinking about Insightpool in the same context when a customer showed him how they were using TrendKite and Insightpool side-by-side, literally open in adjacent tabs.
The details of how Insightpool and Union Metrics will be packaged and priced as part of the TrendKite platform have yet to been determined. In the meantime, Huddleston said TrendKite will continue to support them as standalone products.
In addition, he said the entire teams of both companies (including Insightpool CEO Devon Wijesinghe and Union Metrics CEO Hayes Davis) will be joining TrendKite, with Insightpool giving Austin-based TrendKite a footprint in Atlanta.
The financial terms of the deal were not disclosed. According to Crunchbase, Insightpool had raised $7.5 million from investors including TDF Ventures and Silicon Valley bank.
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Read more: TrendKite expands its PR analytics platform by acquiring Insightpool and Union Metrics
Write comment (98 Comments)AT-Tnewly announced Watch TV, a low-cost live TV streaming service announced in the wake of the AT-T / Time Warner merger, is now up and running. The company already has one over-the-top streaming service with DirecTV Now, but this one is cheaper, has some restrictions, and doesn&t include local channels or sports to keep costs down.
At $15 per month, the service undercuts the existing low-cost leader Philo by a dollar, but offers a different lineup (Fomopop has a nice channel-by-channel comparison between the two, if you&re in the market.)
Both have 25 of the same channels in their packages, including A-E, AMC, Comedy Central, Food Network, Discovery, HGTV, History and others, but AT-T Watch is missing MTV, Nickelodeon, and Travel Channel.
In total, Watch TV has over 30 live TV channels, plus 15,000+ TV shows and movies on demand, and allows you to subscribe by way of updated AT-T Wireless plans. Non-AT-T customers can subscribe for $15 per month directly.
AT-T has been monkeying around with its wireless plans to best take advantage of its Time Warner acquisition. With the new unlimited plans, it removed the previously free HBO perk and raised the entry-level plan by $5 per month, Ars Technica reported, detailing the changes that coincided with the launch of Watch TV. (Existing customers were grandfathered in to free HBO.)
Instead, wireless customers on the top-tier AT-T Unlimited - More Premium plan can choose to add on another option & like HBO & for free. Other services they can opt for instead include Showtime, Starz, Amazon Music Unlimited, Pandora Premium and VRV.
The company also quietly raised its &administrative fee& for postpaid wireless customers from $0.76 to $1.99 per month, Ars noted as well, citing BTIG Research. This will bring in $800 million of incremental service revenue per year, the analyst firm said.
Despite the price hikes and valid concerns over AT-Tbehavior, therelikely going to be a market for this low-cost live TV service. The companyDirecTV Now streaming service, launched in December 2016, reached 1.46 million subscribers in April. Itcatching up to longtime leader, DishSling TV, which debuted at CES back in January 2015 and now has 2.3 million subscribers. Other newer arrivals, like Hulu with Live TV and YouTube TV, have subscribers in the hundreds of thousands.
AT-TWatch TV service will be available across platforms, including iOS, Android, Apple TV, Chromecast and Amazon Fire TV/Fire TV Stick, according to the servicewebsite. However, it only streams in high-def on the Premium wireless plan. It also doesn&t offer perks common to other live TV services, like a cloud DVR or support for multiple simultaneous streams.
The Watch TV apps are rolling out now. Early reviews note theresome similarity in the layout to DirecTV Now. There are no reports of crashing as of yet, which are common to new launches like this.
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Write comment (99 Comments)SimpliSafe, the company behind the well-received SimpliSafe home security service, today announced that Hellman - Friedman, the massive venture fund and private equity firm, has taken a controlling interest in the company. While the two companies didn&t disclose the terms of the transaction, sources close to SimpliSafe tell us that the deal valued the company at about $1 billion.
Hellman - Friedman also currently own a number of other brands. ranging from Grocery Outlet to insurance software specialist Applied Systems (and which owned companies like Getty Images, Scout24 and others in the past).
Ahead of todayannouncement, SimpliSafe had raised about $57 million, mostly thanks to a funding round led by Sequoia Capital in 2014. The deal is expected to close in the third quarter of 2018, &subject to the waiting period under the HSR Act and other customary closing conditions.&There will be no changes in the companyleadership due to this acquisition.
Hellman - Friedman have made a number of deals in the past that involved investments, acquisition and acquiring the controlling interest (sometimes as part of a syndicate) in companies like DoubleClick, Nielsen, Nasdaq, OpenLink and others. Todaydeal fits the groupoverall pattern of acquiring similar companies and then selling them for a profit at a later time — or guiding them to an IPO.
For SimpliSafe, the news comes on the heels of the launch of its updated hardware platform in February. But it also comes shortly after Amazon closed its acquisition of Ring, which not also offers its own security system, and the launch of Nesthome security system. SimpliSafe says it currently protects over two million people, but while there are now more players in the market, this is also still a market with plenty of growth potential. &Home security is at an inflection point. Despite the marketgrowth, today still only 20% of homes are protected,& notes SimpliSafe CEOChad Laurans in todayannouncement.
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