Wij willen met u aan tafel zitten en in een openhartig gesprek uitvinden welke uitdagingen en vragen er bij u spelen om zo, gezamelijk, tot een beste oplossing te komen. Oftewel, hoe kan de techniek u ondersteunen in plaats van dat u de techniek moet ondersteunen.

Adam Neumann may be out of the daily flow of WeWork, but he seemingly remains top of mind to some of the company’s bankers.

According to a new Business Insider piece, Neumann is working with JPMorgan, UBS, and Credit Suisse to consider new terms for a $ 500 loan that he took out before WeWork filed to go public, and from which Neumann has already drawn down $ 380 million. Since he can no longer pay the loan with proceeds from selling WeWork shares publicly (it yanked its S-1 earlier this week), he may have to put up some of his properties or other assets as collateral for the loan, according to one of BI’s sources.

“No terms have been set,” a spokeswoman for Neumann tells the outlet.

Per earlier reports, Neumann has plenty to offload if it comes to it, having acquired numerous residential and commercial properties over the years.

Among his reported investments is a $ 10.5 million Greenwich Village townhouse; a farm in Westchester, New York; a home in the Hamptons where he reportedly weathered the storm with his family ahead of resigning as CEO last week; and a $ 21 million, 13,000-square-foot house in the Bay Area with a guitar-shaped room.

According to an earlier WSJ report, Neumann has also bought several properties through investor groups that he had leased back, in some cases, to WeWork.

WeWork, and Neumann, have both enjoyed a close relationship with JPMorgan in recent years. As recently reported in the NYTimes,  JPMorgan “lent Mr. Neumann money personally (with his inflated shares as collateral), provided equity and debt for the company, served as a corporate adviser for the I.P.O. and secured nearly $ 6 billion in financing as part of the now scotched offering.”


TechCrunch

Back in May, Tourlane raised $ 47 million in its ongoing mission to address the complex problems that still exist today around booking group travel. Tourlane has become a major player in this sector.

We’re excited to announce that co-founder/co-CEO Julian Stiefel will be speaking at Disrupt Berlin in December!

Tourlane works directly with service providers and offers customers flights, accommodations, tours, activities and transfer options in one place, thus saving time when coordinating multiple bookings from different vendors or working with offline travel agents. The platform provides real-time pricing, availability, instant trip visualization and drag-and-drop adjustments to make multi-day trip planning easier.

Prior to Tourlane, Stiefel took on a key role in Airbnb’s marketing team after the company acquired his travel startup back in 2011.

Buy your ticket to Disrupt Berlin to listen to this discussion — and many others. The conference will take place December 11-12.

In addition to panels and fireside chats, like this one, new startups will participate in the Startup Battlefield to compete for the highly coveted Battlefield Cup.


TechCrunch

Shares of Cloudflare rose 20% today in its first day of trading on the public market, opening trading at $ 18 after it priced its IPO at $ 15 a share yesterday and holding steady through the day.

Put another way, the performance of the nine-year-old company — which provides cloud-based network services to enterprises — was relatively undramatic as these things go. That’s a good thing, given that first-day “pops” often signal that a company has left money on the table. Indeed, Cloudflare had initially indicated that its shares would be priced between $ 10 and $ 12, before adjusting the price upward, which suggests its underwriters, led by Goldman Sachs, fairly accurately gauged demand for the offering.

Of course, it was still a very big day for Cloudlfare’s 1,069 employees and especially for Cloudflare’s founders Matthew Prince, its CEO, and Michelle Zatlyn, its COO. We talked with Zatlyn today in the hours after the duo rang the opening bell to ask about the experience, and how the IPO impacts the company going forward. Our chat has been edited lightly for length and clarity.

TC: Thanks for making time for us on a busy day.

MZ: Of course! [TechCrunch’s] Battlefield [competition, in which Cloudflare competed in 2011] is such an integral part of our funding story. Thank you for giving us the stage to launch our company.

TC: Did you get any sleep last night?

MZ: I was so exhausted that I got a great night’s sleep. This whole process has been so incredible, so special. I didn’t know what to expect, and it’s been way better than I could have imagined. There are 150 of our teammates, early employees, family members, board members, champions and other friends here with us [in New York at the NYSE]. We also live-streamed [our debut] to our offices around the world so they could share this moment with us.

TC: How are you feeling about today? The stock is up 20%. There’s always banter afterward about whether a listing was priced right, whether any money was left on the table.

MZ: At this point, we’ve raised almost a billion dollars between today and all of the money we’ve raised from venture investors. We have a great team. We’re really happy. The markets are going to react how they react, but it’s part of our DNA to provide more value than we capture. We think that’s the way to build an enduring company.

TC: You have a liquid currency now. Do you imagine Cloudflare might become more acquisitive as a public company?

MZ: We’ve done some acquisitions on the smaller side and of course, we have a team that’s always looking at different opportunities. But we’re really engineering-driven, and we think we have many products and services left to build, so we’ll continue to invest in our products and in R&D development, as well as in our customer relationships.

TC: Retaining employees is a challenge that some newly public companies worry about. How will you address this in the coming days and months as lock-up periods expire?

MZ: I’m so proud of where we are today and of our whole team, and we’re just getting started. [Matthew and I will] show up Monday morning and get back to work and so will our employees, because they want to make the company [an even greater business].

TC: The company went public with a dual-class structure that gives not just management but all employees 10 times the voting rights of the shares sold to the public. Why was this structure important to Cloudflare, and did it give investors pause?

MZ: There are more than 1,000 people around the world who are building the product and working with customers, and we think it’s important for them to have that 10:1 structure, so it’s something we put in place a few years ago with the encouragement of some of our earlier investors.

TC: Were you modeling this after another company? Is there a precedent for it?

MZ: I don’t know of another one — there may be — but we weren’t inspired by another company. We just felt passionately about this being the right corporate structure and [I don’t think it was harder for us to tell the story of Cloudflare because of it]. Over the last two weeks, in talking with investors across the world, it wasn’t in the top 10 topics that came up, so I think we did a good job of describing it in our S-1.

TC: What was the roadshow like? What surprised you most?

MZ: Don’t get me wrong, there’s a ton of work involved from all kinds of people, in finance, our legal teams … But roadshows have a bad rap in that people think they’re grueling and that, by the end, you’ll be exhausted. That was my expectation. But it was really fun. It was a huge privilege to represent Cloudflare to all these investors who were incredibly smart and well-prepared. We traveled all over and people told us ‘You look better than most teams.’

Michelle Zatlyn

TC: Where does one go for these roadshows?

MZ: You have the usual suspects; there’s a travel roadshow circuit, with some variations based on people’s vacation schedules, but New York, San Francisco, Boston, Chicago, Baltimore is common, Kansas City, Indianapolis, Toronto. You go in person to some places and in others, people dial in. But the whole thing gave me new insight into these pools of capital after venture capital. It was really interesting.

TC: Cloudflare said in a recent amendment to its S-1 that it was in touch with the U.S. Treasury’s Office of Foreign Assets Control back in May after determining that its products were used by individuals and entities that have been blacklisted by the U.S. Did this new revelation slow anything down?

MZ: There was no impact. Your group of advisors expands when you go through a public offering, and lawyers dot every ‘i’ and cross every ‘t,’ and you become a better company for it.

We deliver cybersecurity solutions that are made broadly available to businesses, entrepreneurs and nonprofits, and that’s incredible, but there are also some unsavory actors online, and we’ve always been a transparent organization [about having to grapple with this].

TC: How will Cloudflare handle requests for service by embargoed and restricted entities going forward? As a public company, does that process change in any way?

MZ: We have a really good process today. I think people think that we let anyone use Cloudflare and that’s it. But if customers are breaking the law, we remove them from our network and that’s not new and we publish transparency reports on it.

Sometimes, [you’re confronting] things that aren’t illegal but they’re gross, and the question is whose job is it to take it offline. But I work with some of the smartest minds on this and we try to be very transparent about how we figure this out. The conversation is so much better than it was a few years ago, too, with policy makers and academics and the business community engaging on this. People around the world are talking about where the lines can be drawn, but these are tricky, heady conversations.

TC: They certainly put Cloudflare in a precarious spot sometimes, as when the company banned the internet forum 8chan earlier this year after it was learned that the site was used by a gunman to post an anti-immigration rant. Can we expect that Cloudflare will continue to make decisions like this on a case-by-case basis?

MZ: Freedom of speech is such a fundamental part of this nation. Citizens should want the lawmakers to decide what the law should be, and if lawmakers could do this, it would be much better. On the other side, these are new issues that are arising so we shouldn’t rush. Lots of opinions need to be weighed and conversations are much further along than they once were, but there’s still work to be done, and Cloudflare is one [participant] in a much broader conversation.


TechCrunch

“I’m so tired of talking about Kubernetes . I want to talk about something else,” joked Kubernetes co-founder and VP of R&D at VMware Craig McLuckie during a keynote interview at this week’s Cloud Foundry Summit in The Hague. “I feel like that 80s band that had like one hit song — Cherry Pie.”

He doesn’t quite mean it that way, of course (though it makes for a good headline, see above), but the underlying theme of the conversation he had with Cloud Foundry executive director Abby Kearns was that infrastructure should be boring and fade into the background, while enabling developers to do their best work. “We still have a lot of work to do as an industry to make the infrastructure technology fade into the background and bring forwards the technologies that developers interface with, that enable them to develop the code that drives the business, etc. […] Let’s make that infrastructure technology really, really boring. ”

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What McLuckie wants to talk about is developer experience and with VMware’s intend to acquire Pivotal, it’s placing a strong bet on Cloud Foundry as one of the premiere development platforms for cloud native applications. For the longest time, the Cloud Foundry and Kubernetes ecosystem, which both share an organizational parent in the Linux Foundation, have been getting closer, but that move has accelerated in recent months as the Cloud Foundry ecosystem has finished work on some of its Kubernetes integrations.

McLuckie argues that the Cloud Native Computing Foundation, the home of Kubernetes and other cloud-native open-source projects, was always meant to be a kind of open-ended organization that focuses on driving innovation. And that created a large set of technologies that vendors can choose from. “But when you start to assemble that, I tend to think about you building up this cake which is your development stack, you discover that some of those layers of the cake, like Kubernetes, have a really good bake. They are done to perfection,” said McLuckie, who is clearly a fan of the Great British Baking show. “And other layers, you look at it and you think, wow, that could use a little more bake, it’s not quite ready yet. […] And we haven’t done a great job of pulling it all together and providing a recipe that delivers an entirely consumable experience for everyday developers.”

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He argues that Cloud Foundry, on the other hand, has always focused on building that highly opinionated, consistent developer experience. “Bringing those two communities together, I think, is going to have incredibly powerful results for both communities as we start to bring these technologies together,” he said.

With the Pivotal acquisition still in the works, McLuckie didn’t really comment on what exactly this means for the path forward for Cloud Foundry and Kubernetes (which he still talked about with a lot of energy, despite being tired of it), but it’s clear that he’s looking to Cloud Foundry to enable that developer experience on top of Kubernetes that abstracts all of the infrastructure away for developers and makes deploying an application a matter of a single CLI command.

Bonus: Cherry Pie.


TechCrunch

Valo Ventures, a new firm focused on social, economic and environmental megatrends, has closed on $ 175 million for its debut venture capital fund.

The effort is led by Scott Tierney, a co-founder of Alphabet’s growth investing unit CapitalG, as well as Mona ElNaggar, a former managing director of TIFF Investment Management and Julia Brady, who previously worked as a director at The Via Agency, a communications workshop.

Google is like being a kid in a candy store,” Tierney tells TechCrunch. “It’s a great place to be. For me, I thought, ‘alright, I’ve been here for seven years, I have this opportunity to create my own fund and be more entrepreneurial and take all the learnings I was fortunate to have inside of Google and apply them.’ ”

Tierney joined Google in 2011 as a director of corporate development after five years as a managing director at Steelpoint Capital Partners. In 2013, he co-founded CapitalG, where he served as a partner for the next two years. He completed his Google stint as a director of corporate development and strategic partnerships at Nest Labs, a title he held until mid-2018.

The Valo Ventures partners plan to participate in Series A, B and C deals for startups located in North America and Europe. Specifically, Valo is looking for businesses solving problems within climate change, urbanization, autonomy and mobility. 

The goal is to bring an ESG (environmental, social and corporate governance) perspective to venture capital, where investors infrequently take a mission-driven approach to deal-making. To date, Valo Ventures has deployed capital to Landit, a career pathing platform for women, and a stealth startup developing an AI platform for electricity demand and supply forecasting.


TechCrunch

Hon on the heels of being acquired by company builder Finleap, German SME banking upstart Penta has appointed a new CEO.

Marko Wenthin, who previously co-founded solarisBank (the banking-as-a-service used by Penta), is now heading up the company, having replaced outgoing CEO and Penta co-founder Lav Odorović.

I understand Odorović left Penta last month after it was mutually agreed with new owner Finleap that a CEO with more experience scaling should be brought in. The Penta co-founder remains a shareholder in the SME banking fintech and is thought to be eyeing up his next venture.

Wenthin, who remains on the board of solarisBank according to LinkedIn, stepped down from the banking-as-a-service’s executive team in late 2018 citing “health reasons” and saying that he needed to focus on his recovery. It’s not known what those health issues were, although, regardless, it’s good to see that he’s well-enough to take up a new role as Penta CEO.

Asked to comment on Odorović’s departure, Penta issued the following statement:

“Lav is still part of the shareholders at Penta. His step back from the operational management team was a decision taken by mutual agreement. Lav was the right fit during the building phase of Penta, but by entering a new step of growth, the company faces bigger challenges and needs therefore to position itself differently”.

Penta says that in his new leadership role, Wenthin, who previously spent 16 years at Deutsche Bank, will lead international expansion — next stop Italy — and begin to market the fintech to larger SMEs in addition to its original focus on early-stage startups and other small digital companies. “In the future, the focus will be also on traditional medium-sized companies,” says Penta.

Adds Wenthin in a statement: “I am very much looking forward to my new role at Penta. On the one hand, digital banking for small and medium-sized companies is very important to me, as they are the driver of the economy and I have spent most of my career in this segment. On the other hand, I have known Penta and the team for a long time as successful partners of solarisBank. Penta is the best example of how a very focused banking provider can create real, digital added value for an entire customer segment in cooperation with a banking-as-a-service platform”.

Meanwhile, TechCrunch understands that Odorović’s departure and the appointment of Wenthin isn’t the only recent personnel change within Penta’s leadership team. According to LinkedIn, Aleksandar Orlic, who held the position of CTO, departed the company last month. “We are searching for a new CTO,” said a Penta spokesperson.

Alongside Wenthin, that leaves Penta’s current management team as Jessica Holzbach (Chief Customer Officer), Luka Ivicevic (Chief of Staff), Lukas Zörner (Chief Product Officer (CPO) and Matteo Concas (Chief Marketing Officer).


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