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Technology
Google complex lineup of ad products is getting rebranded.
Sridhar Ramaswamy, the senior vice president who leads Googlead efforts, explained the rebrand at a press event this morning, where he said the company has been getting &consistent feedback& over the past few years that the plethora of ad products and brands — assembled largely through acquisitions — could make it be confusing for advertisers.
&This is a primarily a name change, but it is indicative of where we have been directing the product& for the past few years, Ramaswamy said. He also said the rebrand points to &where we want the product to go.&
Moving forward, Googlead products will be divided up into three major brands. First, whatnow known as AdWords will become Google Ads, which Ramaswamy said will serve as &the front door for advertisers to buy on all Google surfaces,& whether thatsearch, display ads, YouTube videos, app ads in Google Play, location listings in Google Maps or elsewhere.
In this case, itnot just a name change. Google is also launching something it calls Smart Campaigns, which will become the default mode for advertisers. It allows those advertisers to identify the actions (whether itphone calls, store visits or purchases) that they&re prioritizing, then Google Ads will use machine learning to optimize the images, text and targeting to drive more of those actions.
The second brand is the Google Marketing Platform, which combines DoubleClick Digital Marketing and Google Analytics 360, the companyanalytics tools for marketers. Under that umbrella, Google is also announcing a new product called Display - Video 360, which combines features from DoubleClick Bid Manager, Campaign Manager, Studio and Audience Center.
Managing Director for Platforms Dan Taylor said the Google Marketing Platform is responding to a growing need for collaboration — for example, he said Adidas used the platform to bring its brand and performance marketing teams together with the measurement team.
The Marketing Platform includes a new Integrations Center where marketers can view all the ways they can different ways they can connect their Google tools. (And while the focus here is on integration within Googleplatform, Taylor said the company remains committed to interoperability with outside ad exchanges and measurement providers.)
The third brand is Google Ad Manager, a platform that combines Googlemonetization tools for publishers, namely DoubleClick Ad Exchange and DoubleClick for Publishers. In this case, Jonathan Bellack, director of product management for publisher platforms, said therealready been a &three-year journey& of merging the two products as the programmatic ad-buying becomes used across more types of advertising.
&These categories have just been breaking down for a while — all of our publishers already log into one user interface,& Bellack said. So the only thing thatreally changing is &the logo.&
One result of all this consolidation, and one that Ramaswamy described as &bittersweet,& is that the DoubleClick brand is going away. On the other hand, while they weren&t the focus of todayannouncement, the AdSense and Admob brands will continue.
The rebrand is expected to start rolling out in July. Ramaswamy and Taylor both emphasized that no product migration or training will be required.
&The look and feel is going to change a little bit, but the core functionality is not changing,& Taylor said.
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Read more: Google rebrands its ad lineup, with AdWords becoming Google Ads
Write comment (97 Comments)Pet services can be serious startup business. Witness the likes of dog walking startupsRover and Wag, for example. At the same time digital health is a major area of interest for entrepreneurs, thanks to reliable demand meeting techdisruptive potential.
Well, SwedenFirstVet is dabbling in both — offering remote video consultations and advice for pet owners wondering if they should worry about their furry friendlatest bout of coughing/sneezing/vomiting, or whether that chocolate bar the dog snarfed when you weren&t looking is a cause for real concern.
As the name suggests, the niche FirstVet is looking to carve out is a pretty specific one — focused on first layer pet owner concerns which essential boil down to asking a qualified professional whether you really need to take Fido to the vet or not. So itmain competitor is probably Google search.
&We are a supplement to physical clinics rather than a substitute to them,& says CEO and co-founder David Prien. &The most common problems we help pet owners with are gastrointestinal questions, wounds, skin/fur/ears. Our main objective is to be the natural first point of contact for pet owners.&
True to his word, a note on FirstVetwebsite warns prospective customers: &If your pet is acutely ill or severely wounded you should always seek veterinary care immediately.&
&We really don&t want to be the party that pet owners turn to in real emergency cases and always refer them directly to physical vet clinics, we always make the medical journals available for both the clinic receiving the referral and pet owner directly after each consultation,& adds Prien.
The startup launched in 2016, and now claims around 60,000 registered users in its home market of Sweden — saying itanswered close to 4,500 calls in the month of June after slightly over a year on the market. Business has been growing 25 per cent month over month, it adds.
Prien says the price point for the service is set at about 30-40% of the starting fee for a physical vet visit in the market.
Which is still 30-40% more expensing than Googling symptoms — i.e. assuming you&re happy to ignore the risk of the free info you found online being entirely bogus.
While FirstVet intended to offer a b2c service, its route to market has been via partnerships with insurance companies who offer the service to their customers as a way to potentially reduce the risk of more major pet insurance payouts, or as a touchpoint for reaching pet owners who don&t have insurance cover and thus could be persuaded to sign up.
&What happened was that we quickly found that it made sense to collaborate with the insurance companies since it saves money for both them and the end customer,& says Prien. &The service is very popular amongst un-insured pet owners as well, and the share of uninsured pets using the service corresponds with the insurance penetration for each market so far.&
&We have collaborations in place with all eight active insurance companies in Sweden (where the insurance penetration is about 80%),& he adds.&And are currently launching new collaborations with three Finnish insurance companies as we speak.&
FirstVet is announcing a €5.1 million (~6M) Series A today, led by Creandum with participation from existing angel investors — which is says include experts in the telemedicine space.
The funding will be used for business growth and additional market expansion in Europe, with Norway and Denmark slated as &coming soon&. It says its plan is to launch into all the Nordic countries — along with &key European markets& that have high rates of pet insurance.
&Our aim to launch in at least one central European market during 2018,& adds Prien.
Asked whether ittaking a cut of vet visit fees for any referrals, he says not in its home region. Though his response to this question leaves a bit of wiggle room in markets where veterinary services have not been so consolidated.
FirstVet could face a competitive squeeze from on-demand vet startups which are operating in some European markets — such as the likes of UK startupPawSquad— which can send a qualified veterinarian to check out your pet at home. And doesalso offer its own 24/7 remote vet consultation option, including via video or text chats.
But Prien suggests FirstVetmodel offers pet owners the advantage of impartial advice — since itnot incentivized to generate a physical vet visit in cases where this can be avoided. Whereas home visit services might want to encourage visits to to grab a bigger fee.
&To have a truly independent source to turn to, no matter the time or place/if you&re insured or not, really provides great value for pet owners,& he argues. &Given that the market is fully privatized, we strongly believe that it is important not to make this type of service ‘dependent on the incentive of actually generating a physical vet visit when it potentially could be avoided (as many pet owners perceive vet visits as quite stressful, time consuming and expensive).&
While itstill early days for FirstVet, and itfocusing on market expansion, Prien says it is also looking into ways to expand the services it can offer pet owners by creating DIY tests which they could carry out to help with remote diagnostics.
&We&re currently in the very beginning of developing self-tests for pet owners to conduct from home together with a partner as well, that indicate super interesting results,& he adds.
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Read more: FirstVet swipes $6M to expand its pet advice telehealth service
Write comment (98 Comments)Facebook has announced that it will no longer pursue its dream of building a gigantic, solar-powered plane to blast internet to underserved communities via laser. Surprisingly, itjust not practical.
In a news post on the companycoding sub-site, FacebookYael Maguire announced that &we&ve decided not to design or build our own aircraft any longer, and to close our facility in Bridgewater.& Closing the facility comes with the loss of 16 jobs specific to the development and maintenance of the aircraft, the company confirmed to TechCrunch, though plenty relating to other aspects of the project were unaffected.
The company will continue its work with partners, such as Airbus, to help advance &high altitude platform stations& (HAPS) like the Aquila.
The program has been underway since 2014 (the acquisition of Ascenta seems to have been its real start) and public since 2015, and had its first test flight in 2016 — resulting in a &structural failure,& hard landing and subsequent NTSB investigation. The second test flight was better, but far from perfect.
The craft itself, an enormous flying V that stayed aloft at extremely low power draw replenished by solar cells, seems to have worked quite well, actually, despite a few hiccups. But Facebook isn&t the only company looking to get into low-power, high-altitude communications craft.
&As we&ve worked on these efforts, itbeen exciting to see leading companies in the aerospace industry start investing in this technology too — including the design and construction of new high-altitude aircraft,& wrote Maguire.
Considering the considerable scale of investment required to build a craft like this from scratch, and the vast gap in expertise and core competencies between a social network and a veteran aerospace company, itnot surprising that Facebook decided to cut its losses.
The decision was preceded by a report from Business Insider that the project had more or less stalled: its head and chief engineer left last month after, from reading between the lines, efforts to double down on the project with a redesign and private hangar were rejected.
The Aquila plan, like other ambitious connectivity ideas, some still in the offing, was conceived in a period one might call &peak Facebook,& when it was at the height of its growth, before it attracted nearly the level of criticism it faces today, and when its goals were lofty in several ways.
No doubt the company plans to pursue &the next billion& in a way that isn&t quite so costly or unprecedented. Maguire does indicate that work will continue, just not in such a direct way:
Going forward, we&ll continue to work with partners like Airbus on HAPS connectivity generally, and on the other technologies needed to make this system work, like flight control computers and high-density batteries. On the policy front, we&ll be working on a proposal for 2019 World Radio Conference to get more spectrum for HAPS, and we&ll be actively participating in a number of aviation advisory boards and rule-making committees in the US and internationally.
Ithard to fault Facebook for its ambition, though even at the time there were plenty who objected to this extremely techno-utopian idea of how internet could be delivered to isolated communities. Surely, they said, and will continue to say, that money would be better spent laying fiber or establishing basic infrastructure. We&ll see.
I asked Facebook for more information, such as what projects specifically it will be backing, and what will happen to the IP and hardware the Aquila program comprised.
Although a Facebook representative declined to answer my specific questions, they emphasized the fact that the Aquila project was both successful and wide-ranging; although an actual aircraft will no longer be part of it (that duty falls to actual aerospace companies), there were many other advances in transmission, propulsion and so on that are still very much in active development. What exactly the company plans to do with those is still unclear, but we can probably expect news on that front over the next few months as the program adjusts focus.
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Read more: Facebook permanently grounds its Aquila solar-powered internet plane
Write comment (99 Comments)Rocket Lab, the New Zealand-based rocket company that is looking to further amplify the commercial space frenzy, is launching its first fully paid payload atop an Electron rocket tonight — technically tomorrow morning at the launch site. If successful, it will mark a significant new development in the highly competitive world of commercial launches.
Update: Sorry folks but not today. The company said it will announce a new target soon, while the launch window remains July 6.
Liftoff is planned for 2:10 in the morning local time in New Zealand, or 7:10 Pacific time in the U.S.; the live stream will start about 20 minutes before that.
The Electron rocket is a far smaller one than the Falcon 9s we see so frequently these days, with a nominal payload of 150 kilograms, just a fraction of the many tons that we see sent up by SpaceX. But thatthe whole point, Rocket Labfounder, CEO and chief engineer Peter Beck told me recently.
&You can go buy a spot on a big launch vehicle, but they&re not very frequent. With a small rocket you can choose your orbit and choose your schedule,& he said. &Thatwhat we&re driving at here: regular and reliable access to space.&
![Watch Rocket Labfirst commercial launch, ‘ItBusiness Time& [Update: Postponed]](https://techcrunch.com/wp-content/uploads/2018/06/rocketlab_test.jpg)
An Electron rocket launching during a previous test
Just like not every car on the road has to be a big rig, not every rocket needs to be a Saturn V; 150 kilos is more than enough to fill with paying customers and cover the cost of launch. And Beck told me there is no shortage whatsoever of paying customers.
&The most important part of the mission is the timing in which we manifested it,& he explained (manifesting meaning having a payload added to the manifest). &We went from nothing manifested to a full payload in about 12 weeks.&
For comparison, some missions or payloads will wait literally years before therean opportunity to get to the orbit they need. Loading up just a few weeks ahead of time is unusual, to say the least.
Todaylaunch will carry satellites from Spire, Tyvak/GeoOptics, students at UC Irvine and High Performance Space Structure Systems; you can see the specifics of these on the manifest (PDF). Itnot the first time an Electron has taken a paid payload to orbit, but it is the first fully commercialized launch.
Rocket Lab has no ambitions for interplanetary travel, sending people to space or anything like that. It just wants to take 150 kilograms to orbit as often as it can, as inexpensively as it can.
&We&re not interested in building a bigger rocket, we&re interested in building more of this one,& Beck said. &The vehicle is fully dialed in; we started from day one with this vehicle designed from a production approach. We&re fully vertically integrated, we don&t have any contractors, we do everything in-house. We&ve been scaling up the factories enormously.&
&We&re looking for a one-a-month cadence this year, then next year one every two weeks,& he continued. &Frequency is the key — itthe choke point in space right now.&
Ultimately the plan is to get a rocket lifting off every few days. And if you think that will be enough to meet demand, just wait a couple years.
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Read more: Watch Rocket Lab’s first commercial launch, ‘It’s Business Time’ [Update: Postponed]
Write comment (95 Comments)The battery in a 2014 Tesla Model S re-ignited two times after itwas involved in a fatal and high-speed crash in Florida in May, the National Transportation Safety Board said in a preliminary report released Tuesday.
The NTSB report said the electric vehicle was traveling 116 miles per hour three seconds before its 18-year-old driver lost control of the vehicle and crashed along Seabreeze Boulevard in Fort Lauderdale. The driver and a front seat passenger died. A third passenger, who was ejected, survived the crash. The vehicle erupted in flames as the crash unfolded. The Fort Lauderdale Fire and Rescue Department extinguished the vehicle fireusing 200 to 300 gallons of water and foam. Firefighters also applied water and foam to the debris, which included small portions of the lithium-ion high-voltage battery that had separated from the vehicle, according to the report.
The battery re-ignited as the vehicle was being loaded for removal from the scene. The fire was quickly extinguished, the NTSBsaid. However, the batteryre-ignited again when the Model S arrived at the storage yard. A local fire department responded to the storage yard and extinguished the fire.
Tesla declined to comment on the NTSB report.
The NTSB says the investigation, which will also include examining the procedures used to extinguish the battery fire and to remove and store the car post-crash, will continue. Tesla does provide information to first responders on how they should handle Tesla vehicles following a collision.
There have been two other fire incidents in recent months involving a Tesla battery. Six days after a fatal crash in California involving a Tesla Model X, the vehiclebattery re-ignited three or four times,the Mountain View Fire Department told a local TV news station KTVU. Earlier this month, actress Mary McCormack posted a video on Twitter showing her husbandTesla that abruptly burst into flames. Tesla has said itinvestigating the highly unusual event.
Tesla has long contended that design of the battery pack as well as the fortified structure mounted on the floor of the car has a number of protections that prevent it from igniting. For example, the battery pack includes thousands of cells divided in groups and housed in separate modules. Firewalls are between each module and between the battery pack and passenger compartment. The pack is also designed so that if a fire occurs itsupposed to spread more slowly than it might in a gas car.
Tesla did release a new feature following the fatal crash in Fort Lauderdale that optionally limits the acceleration of Tesla vehicles and allows owners to set a maximum speed limit up to 90 mph. The feature can only be engaged or disengaged with a four-digit pin. A notification is sent to the ownermobile device if the vehicle approaches the set maximum speed.
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Read more: Tesla Model S battery re-ignited twice after fatal Florida crash, says NTSB
Write comment (91 Comments)Highland Europe, the European &growth-stage& technology investor, has closed a new €463 million fund, the firmthird fund in just six years.
Targeting &globally ambitious& European software and internet-enabled businesses, the VC typically writes initial cheques of between €10 million and €30 million. It says that startups seeking investment need to demonstrate that they have reached sufficient scale &to confirm the validity of their business model.&
That may seem quite conservative by some venture standards. However, itan investment criteria that Highland Europe says is working, with all of its main LPs bullish enough to return for a third bite of the apple. &Significantly oversubscribed, the fund was raised in just 12 weeks and takes the firmassets under management to €1.1 billion,& says the VC.
On that note, Highland Europe counts 29 active companies in its portfolio, with combined revenues of €1.1 billion in 2017. In terms of exits, over the last 18 months, the firm has most recently sold stakes in luxury fashion retailer MatchesFashion.com, game developer SocialPoint and waste industry software provider AMCS Group.
Meanwhile, Berlin-based GetYourGuide, another Highland Europe-backed startup, raised $75 million in a follow-on round last year.
&There are different kinds of players in our industry and there is room for everybody,& Highland Europe partner and co-founder Fergal Mullen told me on a call last week. &Letbe clear, we are not the early-stage people who make a bet on a concept, thatnot what we do. We need proof points, and if the proof points are there we have got 10 to 50 or 60 million available capital for each company.&
Asked how the European startup ecosystem has changed in the last few years and how it currently compares to Silicon Valley, Mullen says that although the U.S. still has a lot more capital to deploy — and is probably overcapitalized — European founders are more ambitious than ever and European companies continue to punch way above their funding weight.
&If you look at the mentality and ambition of the of young entrepreneurs in Europe nowadays, as far as I&m concerned thereno difference between Europe and the U.S., the ambition level is there now,& he says. &The big thinking is there. The positive frame of mind. And the willingness to push the boat out, maybe fail, make mistakes, but pick up and move on. Therefore, the young entrepreneurs that we meet are looking to match up with venture capital and growth equity players who are prepared to help them achieve their full ambition and go for it. Thata huge change and thata lot to do with the maturing of the market here in Europe.&
Mullen is impressed by the number of valuable companies being created in Europe and says that the quality of these companies is &exceptional.& &When I say quality I mean our companies are more capital efficient. They have to be because therenot as much capital available so they use less capital to get to the same value as a U.S. unicorn. And they have typically twice the revenue of a U.S. unicorn on average. So they have to get to a bigger scale for a similar value.&
Longer-term, he references the pipeline of talent Europe has as another factor in its favor, pointing me to the most recent Mary Meeker &Internet Trends& report that suggests the EU is churning out many more STEM graduates than the U.S., even if China is accelerating fastest.
&This is often forgotten, [but] Europe right now is graduating hundreds of thousands more STEM graduates per year than the United States. At the PhD level, we are graduating 35,000 to 40,000 more per year. So that data point alone to me is a very compelling reason to be long on European tech for the next few decades,& says Mullen.
One thing Highland Europe won&t do is invest in a particular sector just because it is in vogue, says Mullen, after I note the VC firm has only invested in a couple of fintech companies and none you are likely to have heard of. &We don&t invest in the hype phase of any sector,& he says. &We look at fintech all the time, but our criteria are very, very strict. If you don&t have a certain amount of revenue and you&re not demonstrating real capital efficiency, we&re not going to jump in just because fintech is hot.&
Likewise, Mullen singles out AI, arguing that a lot of the concepts being pitched as AI-based aren&t true AI. &At best they might be NL, but they&re not AI. If you define it as an algorithmic-based approach with the ability of the algorithm to evolve itself and it learns and ingests more data… there is very little that is genuinely AI. That sector is very much overhyped, but it doesn&t mean we&re not looking and looking hard. At the end of the day we don&t care what it is as long as it is really working and working well.&
Challenged to name sectors that are under-hyped, the Highland Capital partner says mundane industries offer a great opportunity, citing AMCS, which operates in the waste management industry. &Thata trillion-plus industry that is completely under invested from a tech stack standpoint.&
Adds Mullen: &At the end of the day, whatour objective Our objective is to deliver fantastic results to our investors and along the way we want to have a great time with wonderful entrepreneurs that we enjoy working with. If you have all of that you don&t have a job, you&ve got a vocation. Itjust an extraordinary business to be in.&
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Read more: Highland Europe closes new €463M fund to invest in growth-stage tech
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