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10 Early-Stage Open-Source Software Startups To Watch

Entrepreneur CB Insights Research

Over the last year, the open-source software industry has witnessed some of the largest acquisitions in its history.IBM’s $34B acquisition of Red Hat and Microsoft’s $7.5B acquisition of GitHub are two of the most notable deals.
'Over the last year, the open-source software industry has witnessed some of the largest acquisitions in its history.IBM’s $34B acquisition of Red Hat and Microsoft’s $7.5B acquisition of GitHub are two of the most notable deals.According to CB Insights’ Industy Analyst Consensus market sizing tool, the open-source services industry is set to exceed $17B in 2019, and to reach almost $33B by 2022 — nearly doubling in size.GET the 42-page Enterprise it TRENDS report Download the free report to learn about the biggest emerging trends in enterprise IT and strategies to watch for 2019.Email Want the full expert post?Become a CB Insights customer.If you’re already a customer, log in here. . The post 10 Early-Stage Open-Source Software Startups To Watch appeared first on CB Insights Research .'

Trump Spoke With Aides About Squashing News Stories, Records Show

Entrepreneur Fortune

Search warrants unsealed Thursday shed new light on the president's role as his campaign scrambled to respond to media inquiries about hush-money paid to two women who said they had affairs with Trump.
'Court records show that in the days leading up to the 2016 election, President Donald Trump spoke with aides rushing to squash stories about alleged affairs he had. Search warrants unsealed Thursday shed new light on the president’s role as his campaign scrambled to respond to media inquiries about hush-money paid to two women who said they had affairs with Trump. U.S. District Judge William Pauley ordered the materials unsealed this week after prosecutors said they had concluded their investigation into a scheme intended to protect Trump’s reputation as he ran for president. The investigation involved payments Cohen helped orchestrate to porn actress Stormy Daniels and Playboy centerfold Karen McDougal after they claimed they had affairs with Trump. Trump denies the allegations. Cohen later pleaded guilty to campaign finance violations. He is serving a three-year sentence. More must-read stories from Fortune : —What to expect from the second Democratic debate —Who wins and loses as White House withdraws drug rebate plan —A new holding center for migrant children is open in Texas —Fed Chairman Powell: If Trump asks me to leave, I won’t — Tom Steyer mastered markets and now he wants to topple Trump Get up to speed on your morning commute with Fortune ’s CEO Daily newsletter.'

Haus, the real estate startup founded by Garrett Camp, raises $7.1M

Entrepreneur TechCrunch

Haus, a startup aiming to make home ownership more affordable and flexible, is announcing that it has raised $7.1 million in new funding. This amount combines a $4.1 million seed equity investment led by Montage Ventures and $3 million in debt,
'Haus , a startup aiming to make home ownership more affordable and flexible, is announcing that it has raised $7.1 million in new funding. This amount combines a $4.1 million seed equity investment led by Montage Ventures and $3 million in debt, which will help finance Haus’ new co-investment model. Haus was created by Uber co-founder Garrett Camp as part of his startup studio Expa . When it launched in 2016 , it was focused on digitizing and bringing more transparency to the home-buying process. Since then, former Trulia executive Jonathan McNulty joined as CEO , and he’s introduced that co-investment model, where Haus helps to finance a purchase by buying equity in the home. The idea is that instead of taking on debt, the homeowner is sharing both the risks and the rewards of changing home values with Haus. And instead of paying off a mortgage, the homeowner makes monthly payments to Haus that both purchase more equity and pay the startup and its investors. The company estimates that these payments are, on average, 30% lower than a traditional mortgage payment. In an email, McNulty said that Haus caps the “option” portion of the payment, so that homeowners are always purchasing as much equity as they did with their first payment, even if the home’s value increases. “From a consumer perspective, there have historically only been two ownership options, pay cash for your home, or borrow money from a bank or lender with a mortgage,” he said. “With Haus, we replace that mortgage relationship and create a direct partnership with the consumer, to create an entirely new way of financing a home.” Haus can also work with existing homeowners to replace part or all of their mortgage —  McNulty noted that in some cases, it may make sense “to keep some mortgage debt active for tax purposes.” When asked about how consumers have responded so far, McNulty declined to provide specific numbers, but he said the service is active in Washington, California and Oregon, and that “the early demand is significant, which makes sense given the affordability challenges we see in these western states.” Other new investors include RIT Capital Partners and Tim Ferriss. McNulty said the funding will allow the company to expand its team, particularly to do more marketing and to enter new geographies. “The current real estate model has been broken for a long time,” Montage Ventures Partner Matt Murphy said in a statement. “Homeownership … for people ages 25 to 34 is much lower than it should be. We are excited to partner with Haus to bring much needed relief to current homeowners and prospective buyers alike.” Uber co-founder launches new real estate venture for Expa called Haus'

Elizabeth Warren Declares War on Private Equity ‘Vampires’ in 2020 Plan

Entrepreneur Fortune

The Massachusetts senator unveiled legislation on Thursday called the “Stop Wall Street Looting Act.”
'Elizabeth Warren unveiled a policy proposal Thursday to slap new rules on private equity and “useless speculation” on Wall Street while rolling back President Donald Trump’s deregulation of the financial industry. A centerpiece of her “economic patriotism” plan is to transform private equity firms, which she said often act like “vampires” when they buy companies by “bleeding the company dry and walking away enriched even as the company succumbs.” The new plan from the former Harvard law professor highlights her unique populist pitch for the Democratic presidential nomination — a promise to meld her understanding of Wall Street and federal regulatory powers to enact new regulations that she argues will force financial firms to better serve consumers and the middle class. “Wall Street is looting the economy and Washington is helping them do it,” Warren wrote on medium.com. “I am tired of big financial firms looting the economy to pad their own pockets while the rest of the economy suffers. I am done with Washington ignoring the evidence and acting as though boosting Wall Street helps our families.” If she were the nominee, the 2020 election would pit one of Wall Street’s most outspoken nemeses against a president who cut corporate taxes and deregulated banks in an effort to boost economic growth. Unlike Trump, who blames bad trade deals and permissive immigration for American middle-class problems, Warren lays culpability at the feet of concentrated corporate power. Warren’s plan would make private-equity firms responsible for debts and retirement pension obligations of companies they purchase, while making their profits contingent on the success of the entities they control. She said she’d restrict firms’ ability to pay themselves “monitoring fees” and dividends, while limiting their ability to use tax breaks for the debt placed on companies they buy. And she said she’d arm pension funds and other investors with better information about private equity investments. The Massachusetts senator unveiled legislation toward that end on Thursday, called the “Stop Wall Street Looting Act.” It had numerous Democratic cosponsors, including 2020 rival Kirsten Gillibrand of New York and House Democrats Ayanna Pressley of Massachusetts and and Rashida Tlaib of Michigan. In her campaign plan, Warren said she’d close the “carried interest” break that provides preferential tax treatment to investment fund managers. Trump campaigned on ending that loophole in 2016 but his tax law largely preserved it. She added that she’d push to enact the 21st century Glass-Steagall Act to discourage “excessive risk-taking and speculation” and seek to make bonuses for bank executives contingent on successful investments. Warren said she would also “reverse the Trump-era weakening of rules on capital, liquidity, leverage, and resolution-planning for big banks” via regulatory actions that don’t require the approval of Congress. She called for passing her postal banking plan and Accountable Capitalism Act aimed at discouraging trading for short-term gain. Warren consistently places in the top four in a crowded Democratic field, having enjoyed a boost in surveys after the first presidential primary debate three weeks ago. Her anti-corporate message carries similarities to that of Bernie Sanders, who waged an unexpectedly strong bid against eventual nominee Hillary Clinton in 2016. While Sanders brings a disciplined message on the campaign trail to upend the economic system, Warren has sought to differentiate herself with a steady stream of detailed policy blueprints on matters ranging from taxing wealth and corporate profits to providing universal child care and canceling most student debt. The latest plan follows an earlier “economic patriotism”  proposal she released one month ago .'

This Startup Will Build a Studio in Your Backyard, Then Rent It

Entrepreneur InsideHook

Desperate housing times call for desperate housing measures.And make for solid investment opportunities.You’ve heard about the 21st-century “SROs with snazzy websites,” the commutes from Sacramento, the apartments offering such luxuries as “stand-up
'Desperate housing times call for desperate housing measures.And make for solid investment opportunities.You’ve heard about the 21st-century “SROs with snazzy websites,” the commutes from Sacramento, the apartments offering such luxuries as “ stand-up shower ,” the utter impossibility of affordable housing between S.F. and San Jose.But if you already have said housing?And a backyard at least 30 feet by 30 feet?And an openness to entering into a 30-year agreement for a studio apartment in your backyard? (“Don’t worry — you can also choose to purchase the remaining equity whenever you’d like without any sort of early termination fee.”) Then maybe it’s time you decided to “ Rent My Backyard .”  Here’s the deal: Sign up for the program, and once accepted, you’ll get a brand new, sustainably constructed studio apartment, constructed largely off-site and assembled chez vous.Once that’s done, Rent My Backyard will stick that studio apartment in your backyard and then list the property, funneling residents your way.You get half the take.They get the other half.Said take depends in large part on location: as you’d expect, estimated rent varies.San Francisco is valued nearly twice as much as Berkeley; a handy calculator can tell you what yours might be worth.This won’t appeal to everyone.If you have a 900-square-foot backyard in San Francisco, you probably don’t need an extra three grand a month in exchange for the hassle of a rando living in your backyard.But if you’re looking to cover [part of] your property taxes?Build a little community?Make use of an unused space?Grab the money while you can.Check it out .  . The post This Startup Will Build a Studio in Your Backyard, Then Rent It appeared first on InsideHook .'

Banking startup N26 raises another $170 million at $3.5 billion valuation

Entrepreneur TechCrunch

Fintech startup N26 is raising $170 million a few months after raising $300 million. While it’s technically structured as a new round, the company considers today’s new funding as an extension of the Series D round. N26 has only reached out to
'Fintech startup N26 is raising $170 million a few months after raising $300 million. While it’s technically structured as a new round, the company considers today’s new funding as an extension of the Series D round. N26 has only reached out to existing investors. All the investors in the Series D round are investing again, as well as a few investors that have been around for a while. So that’s Insight Venture Partners, GIC (Singapore’s sovereign wealth fund), Tencent, Allianz X, Peter Thiel’s Valar Ventures, Earlybird Venture Capital and Greyhound Capital. “It’s a raise in valuation of about 30%. It’s only existing investors that participated. We didn’t go external as it is also quite quickly after the round that we did earlier this year,” co-founder and CEO Valentin Stalf told me. “But I think it’s a good testament of the development of the company over the last couple of months.” With this new influx of funding, N26 has now reached a post-money valuation of $3.5 billion. The company has raised $670 million in total. And N26 says that it is now the highest valued German startup and one of the highest valued fintech startups in the world. N26 has been building a retail bank that works better. The company lets you sign up from your phone, get a card that you can control from your phone and make purchases all around the world without any foreign transaction fee. And the company has managed to attract 3.5 million customers all around Europe. More recently, N26 launched its challenger bank in the U.S. The company plans to expand to Brazil in the coming months and launch more products to make it easier to manage your money. Many features will be based on Spaces , which are sub-accounts that let you separate your money in multiple pools and eventually share Spaces with other people. I chatted with N26 co-founder and CEO Valentin Stalf about the future of N26. Here’s our interview, which was edited for clarity and brevity. TechCrunch: You announced N26 You already. What’s the idea behind it? Valentin Stalf: We launched it yesterday or the day before yesterday. There are different card colors and we’re differentiating our premium tier [N26 Metal] a little bit more from the mid tier [N26 You]. I think it was a little bit similar. But now, N26 You is more individual. And then it’ll come together in a couple of weeks when we launch additional cards for one account. You can have different colors. And then, with Spaces, I think we're trying to build the most flexible bank account to live and think your way. And then, in the next quarter we’ll do an app update with a transaction-based timeline. TC: Does it mean that because of the new colors, people will get multiple cards and attach one card to one Space for instance? Stalf: In the end, you’ll be able to attach the cards freely to different Spaces. It’s not even that important that you attach one card to one Space. Sometimes, people want to have multiple cards. But if you only use one card, then you can swap a transaction to a different Space. TC: Now that you’re bringing perks from N26 Metal to N26 You, what does it mean for Metal customers? Do you just get a different card? Stalf: I think with Metal, we’ll go more and more in the premium direction. We also mentioned that we’ll be relaunching our insurance packages. The new package will be based on traveling but also mobility. You’ll have a lot of things in the mobility space including scooter riding. TC: Let’s talk about product. You talked about Shared Spaces and multiple cards. There’s a redesign that is coming out in the next few months, what will it look like? Stalf: With the app update that we’re doing, it’s not just a design update of the front end, it’s really an update of the way we talk to our customers and how we present transactions. We’ll be changing what you see in the app timeline. We want to give you more context and we cant to make it smarter. We’ll integrate customer support interactions, we’ll integrate transactions that didn’t work… These features will launch over time. We’re launching the infrastructure and then we’re launching each of the features. For instance, you’ll have the opportunity to start a customer service interaction directly from a transaction, straight to live chat. And it’s coming together with Shared Spaces. It’s also something that needs to be reflected in the timeline in a smart way. Some of the transactions that might show up in your timeline might not be done by yourself but maybe by someone else. Depending on which transaction you do, we move more details into the timeline directly based on what we think is important. So let’s say it’s a transaction in a new country, you might want to see the exchange rate in the timeline directly. If it’s rent, sending the same amount every month, you don’t need to see more details. It just needs to say rent — okay fine. TC: What did you promise when you raised some more money? New countries, user numbers, improved monthly transaction volume? Stalf: We have an opportunity that we build a bank that has more than 50 million users around the globe. Today, we only have 3.5 million users but we’re accelerating. From a country perspective, we have agreed already that we go to Brazil. There’s no plan after Brazil yet. Now let’s focus on the U.S., then on Brazil, then next year we’ll find out what’s the feedback from these two markets.'

Southeast Asian cloud communications platform Wavecell acquired by 8×8 in deal worth $125 million

Entrepreneur TechCrunch

Wavecell, a cloud-communications platform for companies in Southeast Asia, announced today that it has been acquired by 8×8 in a deal worth about $125 million. The acquisition will help San Jose, California-based 8×8 expand in Asia, where Wavecell
'Wavecell , a cloud-communications platform for companies in Southeast Asia, announced today that it has been acquired by 8×8 in a deal worth about $125 million . The acquisition will help San Jose, California-based 8×8 expand in Asia, where Wavecell already has offices in Singapore, Indonesia, the Philippines, Thailand and Hong Kong. Wavecell’s cloud API platform, which includes SMS, chat, video and voice messaging, is used by companies such as Paidy, Lalamove and Tokopedia. It has relationships with 192 network operators and partners like WhatsApp and claims its infrastructure is used to share more than two billion messages each year. The terms of the deal includes $69 million in cash and about $56 million in 8×8 common shares. Founded in 2010, Wavecell’s investors included Qualgro VC, Wavemaker Partners and MDI Ventures. In a prepared statement, 8×8 CEO Vik Verma said “8×8 is now the only cloud provider that owns the full, global-scale, cloud-native, technology stack offering voice, video, messaging, and contact center delivered both as pre-packaged applications and as enterprise-class APIs. We’re excited to welcome the Wavecell employees to the 8×8 family. We now have a significant market presence in Asia and expect to continue to expand in the region and globally in order to meet evolving customer requirements.”'

How a Hong Kong startup gets caught up in US-China trade war

Entrepreneur TechCrunch

Taylor Host has been operating his artificial intelligence startup out of Hong Kong for more than two years. The American entrepreneur has clients from Europe, North America and Asia, but he settled in the city for its adjacency to Southeast Asia
'Taylor Host has been operating his artificial intelligence startup out of Hong Kong for more than two years. The American entrepreneur has clients from Europe, North America and Asia, but he settled in the city for its adjacency to Southeast Asia and mainland China’s massive market. Miro , which Host co-founded in 2017 with a British software engineer, had bootstrapped to six employees before raising a small note investment. Backed by Silicon Valley-based SOSV, it’s now seeking $2 million in a new funding round. As trade tensions between China and the U.S. drag on, the company is considering relocating for the first time because being a Hong Kong entity starts to turn off western investors. Miro uses computer vision to tag images and videos of runners for the brands they wear. It then attributes that data — sporting goods purchases — to consumers profiles that are part of its clients’ customer relations management (CRM) system. Miro’s AI processes data in markets around the world, but China data, in particular, is desirable for western sports brands. The Chinese rising middle-class has been fueling a marathon fever in recent years as they search for a healthier lifestyle. When they participate in a race, Miro’s sensors could be tracking their shoes and outfits for event organizers and sponsors. The technology has so far been used in nearly 500 events around the world and analyzed more than 10 million athletes — while most of the technical development has been conducted in Hong Kong. “My co-founder and I both spent a considerable amount of time in Hong Kong. The majority of our team would call themselves Hong Kong Chinese, so we have a very strong foothold in Hong Kong and we love it here,” Host told TechCrunch over a phone interview. “Lately though, it’s become very difficult to rationalize keeping the business in Hong Kong. There’s a number of reasons for that, but I think the ones that stand out are geopolitical.” For one, Host has sensed a “dramatic” sentiment change among western investors towards Hong Kong, where a contentious extradition bill triggered a wave of mass protests recently. At the heart of the issue are fears that the special administrative region is ceding autonomy to Beijing. Critics cite examples of the disappearance of a Hong Kong bookseller and a Financial Times journalist’s visa denied by the local government. Miro, a Hong Kong-based startup, uses computer vision to tag images and videos of runners for the brands they wear. / Photo: Miro In an alarming move, the U.S. government stated the extradition bill “imperils the strong U.S.-Hong Kong relationship” that includes a special trade arrangement independent from that of mainland China. Hong Kong’s leader Carrie Lam announced in early July that the bill was “ dead “, but the die has been cast as concerns linger for Hong Kong’s autonomous status . Businesses in the territory now risk being dragged into the U.S.-China trade war. In March, Miro won a pitch competition at SXSW and has since attracted institutional investors of all sizes. But two of its potential backers based in the U.S. have decided to leave the negotiation table seeing Hong Kong as a risk. “Not a single firm has overlooked the issue of us being a Hong Kong-based company,” said Host. “There is zero appetite from the U.S. investors who we have talked to to invest in our Hong Kong entity right now.” The risk of backing Miro, which processes seas of data with image recognition capabilities, is more pronounced than funding companies with little or no core technology as intellectual property is one of the main targets of the U.S.-China negotiations. “Foreign venture capitalists have become more vigilant about investing in Chinese AI and chips companies, even when they don’t own core technology,” Joe Chan, founding partner of Hong Kong-based Mindworks Ventures, told TechCrunch in an interview. Meanwhile, the trade war has had a tangential impact on U.S. fundings for Chinese startups that focus on education, lifestyle and other non-deep tech sectors, according to a handful of investors who we have spoken to in recent months. Southeast Asia gains With the help of legal and tax consultants, Miro has recently shifted to a U.S. entity by registering in Delaware but will keep its operations in Hong Kong. It’s a move which, in Host’s words, has “pleased and allowed the company to move forward” with some of its interested U.S. investors. “It was a requirement of our conversations with those U.S. investors that they are investing in a U.S. — not Hong Kong — entity,” the founder noted. “If you are dead set on your company being the biggest company in your industry, why would you even consider being in a place that has so much uncertainty and risk?” For China-based companies whose cross-border business is anchored in Asia, Southeast Asia could be a safe haven from the trade war. As Chan observed, some Chinese startups have intended to move to Singapore “to become less politically sensitive.” Miro won a pitch competition at SXSW and has since attracted institutional investors of all sizes. But potential backers have decided to leave the negotiation table seeing Hong Kong as a risk. / Photo: Miro Miro is also hedging risks by looking to Southeast Asia, which many would argue is emerging as a winner from the U.S.-China fight. Like China, the region has a burgeoning middle class that is getting into running and a range of other hobbies and habits that will spawn startup ideas. Indeed, there’s been a lot of chatter about the rise of the region with a population of 640 million. A few big-name global investors, including Warburg Pincus and TPG Capital , have set aside new funds over the past few months to back Southeast Asian startups. Corporate investors including Tencent, Alibaba, Didi Chuxing and JD.com, are also clamoring to gain a foothold in this rising part of the continent, as we wrote two years ago. “On a macro level, the trade war certainly has a substantial impact on China’s economy, so we are seeing a lot more money flowing to Southeast Asia,” said Chan. “For example, some manufacturers have moved to Indonesia where labor is cheaper. China’s tech industry — and this is not entirely linked to the trade war — is reaching saturation and dominated by the BAT [Baidu, Alibaba and Tencent], so the window of opportunity is small. Meanwhile, Southeast Asia is still in development.” In a way, the trade war has accelerated the shift of attention from China to neighboring countries. The momentum was what brought Miro to visit one of the region’s largest tech conferences Techsauce recently. “Nobody is talking about the trade war out here in Bangkok. We are talking about how Southeast Asia is exploding. And that is not just Chinese investors. It’s western investors too,” said Host.'

Coinbase tells you if top holders are buying or selling a crypto asset

Entrepreneur TechCrunch

Coinbase is taking advantage of its significant user base to give you more information about trading behavior and price correlation. Given that there are now 15 cryptocurrencies on Coinbase that you can trade, the new features should provide some
'Coinbase is taking advantage of its significant user base to give you more information about trading behavior and price correlation. Given that there are now 15 cryptocurrencies on Coinbase that you can trade, the new features should provide some signals. In addition to price and variation information, you can see what Coinbase customers with large balances are currently doing. You get a buy/sell percentage for each asset. Behind the scene, Coinbase looks at users with a Coinbase balance in the top 10%. The exchange then counts how many users in that pool have increased or decreased their positions over the last 24 hours. The signal is updated every two hours. Coinbase is also calculating two other data points — the average hold time and the popularity of each asset. This time, the company relies on the entire Coinbase user base to tell you how long people keep a specific asset before selling it or sending it to another address. Unfortunately, when you transfer your assets to a hardware wallet or a more secure wallet, Coinbase considers that you’re no longer “holding” that asset because it’s no longer on your Coinbase account. Finally, Coinbase is looking at price data to find out if prices of multiple assets are correlated. For instance, if Crypto X and Crypto Y have a correlation of 0%, it means that they go up and down in parallel. A negative correlation means that two assets move in opposite directions. This feature could help you build a more balanced portfolio of cryptocurrencies.'