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Netflix has acquired the rights to make “Beverly Hills Cop 4” from Paramount.

Deadline, which broke the news, said the studio has been trying to restart the franchise in several forms, including a TV show.

Even with producer Jerry Bruckheimer and star Eddie Murphy attached to the sequel, Paramount might have been a little nervous about the film’s commercial prospects, especially since it’s been 25 years since the release of “Beverly Hills Cop 3.” And the studio (which will soon be part of the reunited ViacomCBS) has had a tough few months at the box office, most recently with the disappointing performance of “Terminator: Dark Fate.”

Plus, Paramount and Netflix were already been working together, first with Netflix buying “The Cloverfield Paradox” and the international rights to “Annihilation,” and then with a multi-picture deal between the two companies announced at the end of a last year.

Murphy, meanwhile, has been getting some of his best reviews in decades for his performance in the Netflix film “Dolemite Is My Name.”


TechCrunch

Disney plans to bring its on-demand video streaming service to India and some Southeast Asian markets as soon as the second half of next year, two sources familiar with the company’s plans told TechCrunch.

In India, the company plans to bring Disney+’s catalog to Hotstar, a popular video streaming service it owns, after the end of next year’s IPL cricket tournament in May, the people said.

Soon afterwards, the company plans to expand Hotstar with Disney+ catalog to Indonesia and Malaysia among other Southeast Asian nations, said those people on the condition of anonymity.

A spokesperson for Hotstar declined to comment.

Hotstar leads the Indian video streaming market. The service said it had more than 300 million monthly subscribers during the IPL cricket tournament and ICC World Cup earlier this year. More than 25 million users simultaneously streamed one of the matches, setting a new global record.

However, Hotstar’s monthly userbase plummets below 60 million in weeks following IPL tournament, according to people who have seen the internal analytics. The arrival of more originals from Disney on Hotstar, which already offers a number of Disney-owned titles in India, could help the service sustain users after cricket seasons.

The international expansion of Hotstar isn’t a surprise as it has entered the U.S., Canada, and the U.K. in recent years. In an interview with TechCrunch earlier this year, Ipsita Dasgupta, president of Hotstar’s international operations, said so far the platform’s international strategy has been to enter markets with “high density of Indians.”

In an earnings call for the quarter that ended in June this year, Disney CEO Robert Iger hinted that the company, which snagged Indian entertainment conglomerate Star India as part of its $ 71.3 billion deal with 21st Century Fox, would bring Star India-operated Hotstar to Southeast Asian markets, though he did not offer a timeline.

Disney+, currently available in the U.S, Canada and the Netherlands, will expand to Australia and New Zealand next week, and the U.K., Germany, Italy, France and Spain on March 31, the company announced last week.

Price hike

Disney, which debut its video streaming service in the U.S. this week and has already amassed over 10 million subscribers, plans to raise the monthly subscription fee of Hotstar in India, where the service currently costs $ 14 a year, one of the two aforementioned people said.

A screenshot of Hotstar’s homepage

The price hike will happen towards the end of the first quarter next year, just ahead of commencement of next IPL cricket tournament season, they said. The company has not decided exactly how much it intends to charge, but one of the people said that it could go as high as $ 30 a year.

In other Southeast Asian markets, the service is likely to cost above $ 30 a year as well, both of the sources said. The prices have yet to be finalized, however, they said.

Even at those suggested price points, Disney would be able to undercut rivals on price. Until recently, Netflix charged at least $ 7 a month in India and other Southeast Asian markets. But this year, the on-demand streaming pioneer introduced a $ 2.8 monthly tier in India and $ 4 in Malaysia.

Hotstar offers a large library of local movies and titles syndicated from international cable networks and studios Showtime, HBO, and ABC (also owned by Disney). In its current international markets, Hotstar’s catalog is limited to some local content and large library of Indian titles.

In recent quarters, Hotstar has also set up an office in Tsinghua Science Park in Beijing, China and hired over 60 engineers and researchers as it looks to expand its tech infrastructure to service more future users, according to job recruitment posts and other data sourced from LinkedIn.


TechCrunch

NASA has a new app (or web-based game, if you’re on desktop) that provides a simplified simulation of what it’s like to plan and run a commercial crew mission – meaning one of the planned varieties of mission that will actually take place aboard the SpaceX Crew Dragon and Boeing Starliner once they begin flying crews next year.

The app takes you through each part of the process, from spacecraft choice, to mission type, to crew selection and then to the actual launch and docking process. It’s mostly about providing some education aoudad each part of the process, rather than offering up an exhaustively realistic flight simulator – but the docking process with the International Space Station can be handled either on full automatic, or on manual mode – and manual mode is fairly challenging and fun.

NASA has included plenty of great info on both the Crew Dragon and the Starliner, and the respective rockets they will launch atop. It also included great bios for 10 actual astronauts you can select from to staff your mission. The launch assembly stage was a bit buggy when I gave it a try on my iPhone, but still workable, and it also provides key info about each element of the launch spacecraft, from boosters to crew capsules and everything in between.

The ‘Rocket Science: Ride 2 Station’ app is a free download, out now on iOS, and also available on the web.


TechCrunch

Africa focused payment startup PalmPay has launched in Nigeria after raising a $ 40 million seed-round led by Chinese mobile-phone maker Transsion.

The investment came via Transsion’s Tecno subsidiary, with participation from China’s NetEase and Taiwanese wireless comms hardware firm Mediatek a Transsion spokesperson confirmed to TechCrunch.

PalmPay had piloted its mobile fintech offering in Nigeria since July, before going live today at a launch in Lagos.

The startup aims to become Africa’s largest financial services platform, according to a statement. 

As part of the investment, PalmPay enters a strategic partnership with mobile brands Tecno, Infinix, and Itel that includes pre-installation of the startup’s app on 20 million phones in 2020.

The UK headquartered venture — that was also founded with Chinese seed investment — offers a package of mobile based financial services, including no fee payment options, bill pay, rewards programs, and discounted airtime.

In Nigeria, PalmPay will offer 10% cashback on airtime purchases and bank transfer rates as low as 10 Naira ($ .02).

In addition to Nigeria, PalmPay will use the $ 40 million seed funding to grow its financial services business in Ghana. The payments startup has plans to expand to additional countries in 2020, PalmPay CEO Greg Reeve told TechCrunch on a call.

PalmPay received its approval from the Nigerian Central Bank as a licensed mobile money operator in July. During its pilot phase, the payments venture registered 100,000 users and processed 1 million transactions, according to a company spokesperson.

With its payments focus, the startup enters Africa’s most promising digital sector, but also one that has become notably competitive and crowded  — particularly in the continent’s largest economy and most populous nation of Nigeria. 

By a number of estimates, Africa’s 1.2 billion people represent the largest share of the world’s unbanked and underbanked population.

An improving smartphone and mobile-connectivity profile for Africa (see GSMA) turns this scenario into an opportunity for mobile-based financial products.

That’s why hundreds of startups are descending on Africa’s fintech space, looking to offer scalable solutions for the continent’s financial needs. By stats offered WeeTracker, fintech now receives the bulk of VC capital and deal-flow to African startups.

Nigeria has multiple new digital-payments entrants — see Chippercash — and several firmly rooted later stage fintech players, such as Paga and recently confirmed unicorn Interswitch.

PalmPay CEO Greg Reeves believes the company can compete in Nigeria and across Africa based on several strategic advantages. A big one is the startup’s support from Transsion and partnership with Tecno.

Transsion Tecno Store Africa“On channel and access, we’re going to be pre-installed on all Tecno phones. Your’e gonna find us in the Tecno stores and outlets. So we get an immediate channel and leg up in any market we operate in,” said Reeve.

Tecno’s owner and PalmPay’s lead investor, Transsion, is the largest seller of smartphones in Africa and maintains a manufacturing facility in Ethiopia. The company raised nearly $ 400 million in a Shanghai IPO in September and plans to spend roughly $ 300 million of that on new R&D and manufacturing capabilities in Africa and globally.

In addition to Transsion’s support and network, Reeves names PalmPay’s partnership with Visa . “We signed a strategic alliance with Visa so now I can deliver Visa products on top of my wallet, link my wallet to Visa products and give access to someone who’s completely unbanked to the whole of the Visa network,” he said.

Another strategic advantage PalmPay may have as a newcomer in Africa’s fintech space is Reeve’s leadership experience. He comes to the CEO position after serving as Vodaphone’s global head of M-Pesa — one of the world’s most recognized mobile-money products. Reeve was also a GM for Millicom‘s fintech products across Africa and Latin America.

“I’ve had my fingers in mobile financial services for the last 10 years,” he said.

Reeve confirmed that PalmPay has local teams (and is hiring) in Nigeria and Ghana.

With the company’s launch and $ 40 million raise — which is potentially the largest seed-round for an Africa focused startup in 2019 — PalmPay’s bid to gain digital payment market share is on.

The Transsion led investment also serves as a big bold marker for China’s pivot to African tech in 2019. It follows several big moves by Chinese actors in the continent’s digital space.

These include Opera’s $ 50 million investment in multiple online verticals in Nigeria and a major investment by Chinese investors in trucking logistics startup Lori Systems this week.


TechCrunch

Microsoft’s big experiment in real-world augmented reality gaming, Minecraft Earth, is live now for players in North America, the U.K., and a number of other areas. The pocket-size AR game lets you collect blocks and critters wherever you go, undertake little adventures with friends, and of course build sweet castles.

I played an early version of Minecraft Earth earlier this year, and found it entertaining and the AR aspect surprisingly seamless. The gameplay many were first introduced to in Pokemon GO is adapted here in a more creative and collaborative way.

You still walk around your neighborhood, rendered in this case charmingly like a Minecraft world, and tap little icons that pop up around your character. These may be blocks you can use to build, animals you can collect, or events like combat encounters that you can do alone or with friends for rewards.

Ultimately all this is in service of building stuff, which you do on “build plates” of various sizes. These you place in AR mode on a flat surface, which they lock onto, letting you move around freely to edit and play with them. This sounded like it could be fussy or buggy when I first heard about it, but actually doing it was smooth and easy. It’s easy to “zoom in” to edit a structure by just moving your phone closer, and multiple people can play with the same blocks and plate at the same time.

Once you’ve put together something fun, you can take it to an outdoors location and have it represented at essentially “real” size, so you can walk around the interior of your castle or dungeon. Of course you can’t climb steps, since they’re not real, but the other aspects work as expected: you can manipulate doors and other items, breed cave chickens, and generally enjoy yourself.

The game is definitely more open-ended than the collection-focused Pokemon GO and Harry Potter: Wizards Unite. Whether that proves to be to its benefit or detriment when it comes to appeal and lasting power remains to be seen — but one thing is for sure: People love Minecraft and they’re going to want to at least try this out.

And now they can, if they’re in one of the following countries — with others coming throughout the holiday season.

 

  • United States
  • United Kingdom
  • Canada
  • South Korea
  • Philippines
  • Sweden
  • Mexico
  • Australia
  • New Zealand
  • Iceland

You can download Minecraft Earth for iOS here and for Android here.

 


TechCrunch

Instagram is launching a video-music remix feature to finally fight back against Chinese social rival TikTok. Instagram Reels lets you make 15-second video clips set to music and share them as Stories, with the potential to go viral on a new Top Reels section of Explore. Just like TikTok, users can soundtrack their Reels with a huge catalog of music, or borrow the audio from anyone’s else video to create a remix of their meme or joke. 

Reels is launching today on iOS and Android but limited to just Brazil where it’s called Cenas. Reels leverages all of Instagram’s most popular features to frankenstein together a remarkably coherent competitor to TikTok’s rich features and community of 1.5 billion monthly users including 122 million in the US according to Sensor Tower. Instead of trying to start from scratch like Facebook’s Lasso, Instagram could cross-promote Reels heavily to its own billion users.

But Instagram’s challenge will be retraining its populace to make premeditated, storyboarded social entertainment instead of just spontaneous, autobiographical social media like with Stories and feed posts.

“I think Musically before TikTok, and TikTok deserve a ton of credit for popularizing this format” admits Instagram director of product management Robby Stein. “No two products are exactly the same, and at the end of the day sharing video with music is a pretty univeral idea we think everyone might be interested in using. The focus has been on how to make this a unique format for us.”

Throwing Instagram’s Weight Around

Starting in Brazil before potentially rolling out elsewhere could help Instagram nail down its customization and onboarding strategy. Luckily, Brazil has a big Instagram population, a deeply musical culture, and a thriving creator community, says Stein.

It also isn’t completely obsessed with TikTok yet like fellow developing market India. As Facebook CEO Mark Zuckerberg said about trying to grow Lasso, “We’re trying to first see if we can get it to work in countries where TikTok is not already big.” Instagram used this internationalization strategy to make Stories a hit where Snapchat hadn’t expanded yet, and it worked surprisingly well.

Instagram also has the US government on its side for a change. While its parent company Facebook is being investigated for anti-trust and privacy violations, TikTok is also under scrutiny.

Chinese tech giant ByteDance’s $ 1 billion 2017 acquisition of Musical.ly, another Chinese app similar to TikTok but with traction in the US, is under review by the Committee For Foreign Investment In The United States. ByteDance turned Musical.ly into TikTok, but it could have to unwind the acquisitions or make other concessions to US regulators to protect the country’s national security. Several Senators have also railed against TikTok injecting Chinese social values via censorship into the American discourse.

Perhaps Instagram’s best shot at differentiation is through its social graph. While TikTok is primarily a feed broadcasting app, Instagram can work Reels into its Close Friends and Direct messaging features potentially opening a new class of creators — shy one who only want to share with people they trust not to make fun of them. A lot of this lipsyncing / dancing / humor skit content can be kinda cringey when people don’t get it just right.

How Instagram Reels Works

Users will find it in the Instagram Stories shutter modes tray next to Boomerang and Super-Zoom. They can either record with silence, borrow the audio of another video they find through hashtag search or Explore, or search a popular or trending song.

Facebook’s enormous music collection secured from all the major labels and many indie publishers powers Reels. Users pick the chunk to the song they want, and can then record or upload multiple video clips to fill out their Reel. Instagram has been building towards this moment since June 2018 when it first launched its Music stickers.

Instagram is adding some much-needed editing tools for Reels like timed captions so words appear in certain scenes, and a ghost overlay option for lining up transitions so they look fluid. Still, Reels lacks some of the video filters and special effects that TikTok has purposefully built to power certain gags and cuts between scenes. Stein says those are coming though.

Once users are satisfied with their editing job, they can post their Reel to Stories, Close Friends, or message it to people. If shared publicly, it will also be eligible to appear in the Top Reels section of the Explore tab. Most cleverly, Instagram works around its own ephemerality by letting users add their Reels to their profile’s non-disappearing Highlights for a shot to show up on Explore even after their 24-hour story expires.

Instead of having to monetize later somehow, Instagram can immediately start making money from Reels since it already shows ads in Stories and the Explore tab.

Cloning TikTok isn’t just about the features, though Reels does a good job of copying the core ones while leaving out AR effects and transitions for now. But creating scripted content is totally new for most Instagram users, and could feel too showy or goofy for an app known for its seriousness. Instagram may have to lose its artful, cool vibe to embrace the silliness of tomorrow’s social entertainment.


TechCrunch

Balderton Capital, one of the so-called “big four” early-stage VC firms in London (the others being Accel, Atomico and Index), has raised a new $ 400 million fund to continue backing European tech startups at Series A.

Dealroom recently released a report that pegged Balderton as the most active Series A investor in Europe (between 2014-2018), and in many ways this new fund is a continuation, and business as usual for the firm. It is also roughly the same size as the VC’s last Series A fund, which it closed in 2017 at $ 375 million.

That’s not to be confused with Balderton’s other recently launched “secondary” fund, which is dedicated to buying equity stakes from early shareholders in European-founded “high-growth, scale-up” technology companies. The move essentially formalised the secondary share dealing that already happens — typically as part of a Series C or other later rounds — which often sees founders take some money off the table so they can improve their own financial situation and won’t be tempted to sell their company too soon, but also gives early investors a way out so they can begin the cycle all over again.

Meanwhile, Balderton says the new Series A fund is being launched against a backdrop of “unprecedented momentum” within the European tech ecosystem. The VC notes that the number of Series A rounds in Europe per year has quadrupled since 2012, with the total amount of VC funding going into European startups hitting record highs last year — from €11.5 billion in 2014 to a chunky €24.6 billion in 2018.

That, together with the sheer number of new funds that have launched over the last 12 months — and three I’m covering this week — leads me to wonder out loud if tech, and Europe in particular, has entered a bubble.

“I don’t think we are,” Balderton Partner Suranga Chandratillake tells me during a call, before acknowledging that it is often hard to know if you are in a bubble if you are actually in one. “If you look at the public markets, the valuations around tech companies, while they are high, I would argue that in many cases they are justifiable when you look at the profitability and the growth rate of those businesses, especially things like enterprise software. But I think it’s harder when you get into businesses where they are more one-off… [where] we don’t necessarily know exactly how to value those long term.”

On Europe specifically, Chandratillake points out that some European tech hubs are more heated than others and that sentiment can vary considerably per geography. “As you get to more and more the local level, of course, you can experience what feel like sort of comparative bubbles. So, you know, maybe London was expensive two years ago, and France is expensive right now at Series A or whatever, but I don’t think those things really matter in the long run, because ultimately they iron out as long as the employee valuations are sensible. And as an investor, you’re paying attention to that stuff when you’re going to make an investment.”

One rumour within London VC is there are firms that have felt pressured to do follow-on investments in portfolio companies they otherwise might not have during cooler times, for fear of signalling to the market not just that a company isn’t doing well but that the VC firm itself isn’t as founder-friendly as competing VCs. How does Balderton think about signaling?

“Signaling is a massive deal [in venture capital],” says Chandratillake. “And actually, this is an area where, you know, we think we have a fairly strong position, because for over 10 years now we have focused almost entirely on Series A… and we are very open about that.”

He says that unlike other Series A VCs that invest at Series B or Series C, too, and also quite often dabble in seed, companies backed by Balderton shouldn’t expect the firm to “lead or be a major part of your Series B.”

“Of course, we’ll help, we’re going to do some of our pro-rata or maybe all of our pro-rata to try and protect some of our ownership, all those sorts of rational things we do. But we’re not raising a fund which allows us to be a big investor in your Series B and your C and your D and so on. I think as long as you’re really open with entrepreneurs about that early, they totally get that and they understand why it works economically for us and why it’s a good thing.

“Then if you do that for a long enough period of time, as we have, and stick to that — so you don’t do weird things like, you know, say that, but then on the other hand with the most interesting company, you try to bully your way into more of a Series B or whatever, then the ecosystem overall starts to realise… then the signal problem goes away.”

With regards to future investments, Chandratillake says Balderton will continue to invest all over Europe across any sector where “information technology” is being leveraged and creating value.

In the fund prior to last, for example, fintech was a major focus, backing companies like Revolut and Nutmeg, but more recently the VC has been investing more in health tech, where computer science is helping life science solve problems faster or cheaper.

“I think that there will be more of that,” says Chandratillake. “There’s a lot more to be done in this health tech space, both at the patient level, but also actually a lot of really interesting things behind the scenes that will help health systems operate more efficiently and use technology in interesting ways. It’s a really interesting area for Europe, because we have, you know, within the continent, a plethora of different health systems — from almost fully private systems through to obviously entirely state single payer systems like the NHS. It’s a great place to experiment with different models. It’s also of course, as a continent, home to some of the most important pharmaceutical companies [in the world].”


TechCrunch

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