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.

I hope you’ve all had a good week. Normally I’m behind the scenes (where I’m most comfortable), but I’ll be managing the Startups Weekly newsletter until I assign it to someone else. More on that in a few weeks. Want it in your inbox? Sign up here for this and other great newsletters we have to offer, including ones on space and transportation. For now, let’s get on with it, shall we?

A unicorn workout

Working out never did a body so good as it did for ClassPass this week. The popular startup that created a way to help people exercise more easily just became a unicorn with an influx of Series E cash. 

The latest funding, in the amount of $ 285 million, was led by L Catterton and Apax Digital, with participation from existing investor Temasek. It brings ClassPass’s total known raise to about $ 550 million.

We reported a couple of weeks ago that ClassPass, then at a $ 536.4 million valuation, was sniffing around for the round, which would promote it to the unicorn club.

We are motivated by the impact we’ve had on members and partners, including 100 million hours of workouts that have already been booked,” said ClassPass Founder and Chairman Payal Kadakia in a statement about the raise. “This investment is a significant milestone that will further our mission to help people stay active and spend their time meaningfully.

Photo: ClassPass

Funding real estate

A couple of real estate-ish startups got some attention this week. Los Angeles-based Luxury Presence raised $ 5.4 million to help it help agents round out their digital marketing arsenals.

In other real estate funding this week, Orchard, previously known as Perch, announced that it has raised $ 36 million. The company solves the problem that so-called “dual-trackers” face: selling their home while trying to buy one. It’s stressful and costs a lot of money.

As Jordan Crook wrote in her story on the raise: “Orchard solves this by making an offer on buyers’ old houses that is guaranteed for 90 days. Orchard co-founder Court Cunningham says that more than 85% of those homes sell at a market price before the 90-day period.”

GettyImages 979844616

Image via Getty Images / Feng Yu

Brian Heater had a chat with Lora DiCarlo CEO Lora Haddock about the sex tech company’s return to CES. But the interview wasn’t conducted at a table in a crowded press room in some random hotel. It was in a truck with a big, glass trailer. It’s Vegas, obviously, so why not?

As Brian put it:

Driving down the Las Vegas Strip in a transparent box is a curious, extremely Vegas experience: puzzled tourists and confused CES attendees gawk from the sidewalks. Four of us are sitting in a makeshift living room with fuzzy white carpet: CEO Lora Haddock, Enzo Ferrari Drift DiCarlo (her fuzzy black-and-white Pomeranian), and a colleague, who holds Enzo in their lap. A four-foot-tall faux sex toy sits in a corner, swaying occasionally.

Last year, you might recall, the consumer tech show awarded Lora DiCarlo with an innovation award, but then took it back. They also banned the company from the show floor, stating it didn’t fit into a product category. Months later, they scored some funding and got an apology from the CES show runners.

Read the interview on Extra Crunch.

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SAN FRANCISCO, CALIFORNIA – OCTOBER 03: Lora DiCarlo Founder & CEO Lora Haddock speaks onstage during TechCrunch Disrupt San Francisco 2019 at Moscone Convention Center on October 03, 2019 in San Francisco, California. (Photo by Kimberly White/Getty Images for TechCrunch)

Around the horn

Extra Crunch

Over on Extra Crunch we published a bunch of great stuff this week, including stories about Ring and its evolving stance on security and privacy, how gig economy companies are trying to keep workers classified as independent contractors, and whether online privacy will make a comeback this year.

Here are a few more:

Head here if you aren’t a subscriber yet for a super-discounted first month.

#EquityPod

Alex Wilhelm was back on the mic this week with Danny Crichton, TechCrunch’s managing editor. Their docket included news of Lily AI’s $ 12.5 million Series A, Insight’s $ 1.1 billion acquisition of Armis Security, a round for a self-driving forklift startup called Vecna and SoftBank’s Vision Fund.

Listen to the episode here, and if you haven’t subscribed yet, you can do that here.

But that’s not the only Equity news I have for you. Alex wants to help you all get started each week with Equity Mondays. In his own words:

The Equity crew will put together a short, zero-bullshit episode designed to get your week started. What news did you miss over the weekend? What recent venture rounds do you need to know about? What’s ahead in the coming week? And what’s on our minds? That’s what Equity Monday will bring you each and every morning in about seven minutes.

The good news is it’ll show up in the Equity feed you already know and love. Have a listen to the first Monday edition here.


TechCrunch

YouTube Music is taking on Spotify, Apple Music and others with the launch of three personalized playlists, including its own version of Spotify’s Discover Weekly, called Discover Mix, as well as a New Release Mix and Your Mix. Discover Mix had been spotted in the wild during testing, but now all three are globally available to YouTube Music users.

The company’s plans to introduce these new mixes were announced this fall at TechCrunch Disrupt SF 2019, where YouTube Chief Product Officer Neal Mohan spoke about the service’s plans to utilize a combination of machine learning and human curation to improve the music service’s offerings.

The Discover Mix is very much like Spotify’s Discover Weekly, as it will focus on helping users uncover new artists and music they like, including tracks you’ve never listened to before as well as lesser-known tracks from artists you already love. But unlike on competitor music services, this playlist can leverage historical listening data on both YouTube Music and on YouTube itself.

The mix, which updates every Wednesday, will give listeners 50 tracks per week.

The New Release Mix, as you can guess, focuses on all the recent releases by your favorite artists and others YouTube thinks you’ll like. This one drops every Friday, as most new releases do, but will add other tracks mid-week as needed.

Finally, Your Mix is a playlist that combines the music you love with songs you haven’t heard yet but will probably like, based on your listening habits. This one updates regularly to stay fresh.

Of course, the longer you listen on YouTube Music, the better the mixes will get. But YouTube says it can offer personalized mixes as soon as a user selects a couple of artists they like during the setup process or after they listen to a couple of songs.

The mixes arrive at a time when Google is more heavily investing in its streaming music service. Earlier this fall, it made YouTube Music the default music app that ships with new Android devices, instead of Google Play Music. And recently, reports indicate that YouTube Music is ahead of Spotify and JioSaavn in India, a key market for Spotify, despite its late entry.

The new mixes are live today on YouTube Music across iOS, Android, and the web.


TechCrunch

Hello and welcome back to Startups Weekly, a newsletter published every Saturday that dives into the week’s noteworthy venture capital deals, funds and trends. Before I dive into this week’s topic, let’s catch up a bit. Last week, I wrote about the proliferation of billion-dollar companies. Before that, I noted the uptick in beverage startup rounds. Remember, you can send me tips, suggestions and feedback to kate.clark@techcrunch.com or on Twitter @KateClarkTweets.

Now, time for some quick notes on Peloton’s confirmed initial public offering. The fitness unicorn, which sells a high-tech exercise bike and affiliated subscription to original fitness content, confidentially filed to go public earlier this week. Unfortunately, there’s no S-1 to pore through yet; all I can do for now is speculate a bit about Peloton’s long-term potential.

What I know: 

  • Peloton is profitable. Founder and chief executive John Foley said at one point that he expected 2018 revenues of $ 700 million, more than double 2017’s revenues of $ 400 million.
  • There is strong investor demand for Peloton stock. Javier Avolos, vice president at the secondary marketplace Forge, tells TechCrunch’s Darrell Etherington that “investor interest [in Peloton] has been consistently strong from both institutional and retail investors. Our view is that this is a result of perceived strong performance by the company, a clear path to a liquidity event, and historically low availability of supply in the market due to restrictions around selling or transferring shares in the secondary market.”
  • Peloton, despite initially struggling to raise venture capital, has accrued nearly $ 1 billion in funding to date. Most recently, it raised a $ 550 million Series F at a $ 4.25 billion valuation. It’s backed by Tiger Global Management, TCV, Kleiner Perkins and others.

 

A bullish perspective: Peloton, an early player in the fitness tech space, has garnered a cult following since its founding in 2012. There is something to be said about being an early-player in a burgeoning industry — tech-enabled personal fitness equipment, that is — and Peloton has certainly proven its bike to be genre-defining technology. Plus, Peloton is actually profitable and we all know that’s rare for a Silicon Valley company. (Peloton is actually New York-based but you get the idea.)

A bearish perspective: The market for fitness tech is heating up, largely as a result of Peloton’s own success. That means increased competition. Peloton has not proven itself to be a nimble business in the slightest. As Darrell noted in his piece, in its seven years of operation, “Peloton has put out exactly two pieces of hardware, and seems unlikely to ramp that pace. The cost of their equipment makes frequent upgrade cycles unlikely, and there’s a limited field in terms of other hardware types to even consider making. If hardware innovation is your measure for success, Peloton hasn’t really shown that it’s doing enough in this category to fend of legacy players or new entrants.”

TL;DR: Peloton, unlike any other company before it, sits evenly at the intersection of fitness, software, hardware and media. One wonders how Wall Street will value a company so varied. Will Peloton be yet another example of an over-valued venture-backed unicorn that flounders once public? Or will it mature in time to triumphantly navigate the uncertain public company waters? Let me know what you think. And If you want more Peloton deets, read Darrell’s full story: Weighing Peloton’s opportunity and risks ahead of IPO.

Anyways…

Public company corner

In addition to Peloton’s IPO announcement, CrowdStrike boosted its IPO expectations. Aside from those two updates, IPO land was pretty quiet this week. Let’s check in with some recently public businesses instead.

Uber: The ride-hailing giant has let go of two key managers: its chief operating officer and chief marketing officer. All of this comes just a few weeks after it went public. On the brightside, Uber traded above its IPO price for the first time this week. The bump didn’t last long but now that the investment banks behind its IPO are allowed to share their bullish perspective publicly, things may improve. Or not.

Zoom: The video communications business posted its first earnings report this week. As you might have guessed, things are looking great for Zoom. In short, it beat estimates with revenues of $ 122 million in the last quarter. That’s growth of 109% year-over-year. Not bad Zoom, not bad at all.

Must reads

We cover a lot of startup and big tech news here at TechCrunch. Sometimes, the really great features writers put a lot of time and energy into fall between the cracks. With that said, I just want to take a moment this week to highlight a few of the great stories published on our site recently:

A peek inside Sequoia Capital’s low-flying, wide-reaching scout program by Connie Loizos

On the road to self-driving trucks, Starsky Robotics built a traditional trucking business by Kirsten Korosec

The Stanford connection behind Latin America’s multi-billion dollar startup renaissance by Jon Shieber 

How to calculate your event ROI by Sarah Shewey

Why four security companies just sold for $ 1.5B by Ron Miller 

Scooters gonna scoot

In case you missed it, Bird is in negotiations to acquire Scoot, a smaller scooter upstart with licenses to operate in the coveted market of San Francisco. Scoot was last valued at around $ 71 million, having raised about $ 47 million in equity funding to date from Scout Ventures, Vision Ridge Partners, angel investor Joanne Wilson and more. Bird, of course, is a whole lot larger, valued at $ 2.3 billion recently.

On top of this deal, there was no shortage of scooter news this week. Bird, for example, unveiled the Bird Cruiser, an electric vehicle that is essentially a blend between a bicycle and a moped. Here’s more on the booming scooter industry.

Startup Capital

WorldRemit raises $ 175M at a $ 900M valuation to help users send money to contacts in emerging markets 

Thumbtack is raising up to $ 120M on a flat valuation

Depop, a shopping app for millennials, bags $ 62M

Fitness startup Mirror nears $ 300M valuation with fresh funding

Step raises $ 22.5M led by Stripe to build no-fee banking services for teens

Possible Finance lands $ 10.5M to provide kinder short-term loans

Voatz raises $ 7M for its mobile voting technology

Flexible housing startup raises $ 2.5M

Legacy, a sperm testing and freezing service, raises $ 1.5M

Equity

If you enjoy this newsletter, be sure to check out TechCrunch’s venture-focused podcast, Equity. In this week’s episode, available here, Crunchbase News editor-in-chief Alex Wilhelm and I discuss how a future without the SoftBank Vision Fund would look, Peloton’s IPO and data-driven investing.


TechCrunch

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