Cosmose, a platform that analyzes foot traffic in physical stores, gets $15 million Series A

Cosmose, a platform that tracks foot traffic in brick-and-mortar stores to help companies predict customer behavior, announced today it has raised a $15 million Series A. The round was by Tiga Investments, with participation from returning investors OTB Ventures and TDJ Pitango, who co-led Cosmose’s seed round last year. The company said its valuation is now more than $100 million.

The Series A will be used for product development and geographic expansion, starting with Southeast Asian markets this year, followed by the Middle East and India. Chief executive officer Miron Mironiuk, who founded Cosmose in 2014, said its goal is to break even and generate profit by 2021.

Cosmose has offices in Shanghai, Hong Kong, New York and Warsaw, where is software engineering team is based. Most of the stores its tech is currently use in are in China and Japan, and its clients include companies like Walmart, Marriott, Samsung, and LVMH.

As companies try to recover from the impact of COVID-19, Mironiuk said Cosmose’s platform has helped clients make decisions about when to reopen stores and what kind of inventory to stock, and how to increase revenue. For example, ‘some shops wanted to connect with customers who used to shop in their physical locations and encourage them to buy online,” he said. “Hotels in Japan were focused on promoting their in-house restaurants to local residents to make up for the lost revenue.” The company is also working with Boston Consulting Group on a report called “COVID-19 offline retail recovery traffic in China” for publication next week.

Mironiuk said that a PwC audit of the platform’s accuracy completed in December 2019 confirmed its ability to track customers within 1.6 meters of their location in a store, and that its data ecosystem now comprises of more than one billion smartphones and 360,000 stores. Cosmose’s plan is to grow that to two billion smartphones and 10 million stores by 2022.

The company offers three main products: Cosmose Analytics, which tracks customers’ movements inside brick-and-mortar stores; Cosmose AI, a data analytics and prediction platform to help retailers create marketing campaigns and increase sales; and Cosmose Media, for targeting online ads.

Cosmose does not require hardware installation, which means no regular maintenance is required after Cosmose maps a store, and helps it differentiate from rivals.

There are other companies that also analyze foot traffic in brick-and-mortar stores, including RetailNext and ShopperTrak, but being tracked might alarm customers who are concerned about their privacy. Mironiuk said all of the smartphone data Cosmose AI gathers is anonymized, so the company doesn’t know who shoppers are. The platform uses alphanumeric IDs called OMNIcookies, does not collect personal data like phone MAC addresses, mobile numbers, or email addresses, and follows data privacy laws in each of the countries it operates in. It also allows shoppers to opt-out of tracking.

In a press statement about the investment, Raymond Zage, the CEO and founder of Tiga Investments, said “I was attracted by the strong results Cosmose is already achieving for some of the world’s recognizable brands, while simultaneously ensuring user privacy is protected. Cosmose team is saving stores while enhancing consumer experience.”

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Apple alum’s jobs app for India’s workers secures $8 million

Javed, a middle-aged man, worked as a driver before losing that job earlier this year as coronavirus spread across India, prompting New Delhi to enforce a nationwide lockdown and temporarily curb several business activities.

There are millions of people like Javed in India today who have lost their livelihood in recent months. They are low-skilled workers and are currently struggling to secure another job.

An Apple alum thinks he can help. Through his app startup Apna, Nirmit Parikh is helping India’s workers learn new skills, connect with one another, and find jobs.

Parikh’s app is already changing lives. Javed, who could barely speak a few words in English before, recently posted a video on Apna app where he talked about his new job — processing raisins — in English.

In less than one year of its existence, Apna app — available on Android — has amassed over 1.2 million users.

The startup announced on Tuesday it has raised $8 million in its Series A financing round led by Lightspeed India and Sequoia Capital India. Greenoaks Capital and Rocketship VC also participated in the round.

In an interview with TechCrunch last week, Parikh said that these workers lack an organized community. “They are daily-wage workers. They rely on their friends to find jobs. This makes the prospects of them finding a job very difficult,” he said.

Apna app comprises of vertical communities for skilled professionals like carpenters, painters, field sales agents and many others.

“The most powerful thing for me about Apna is its communities — I’ve seen people help each other start a business, learn a new language or find a gig! Communities harbinger trust and make the model infinitely scalable,” said Vaibhav Agrawal, a Partner at Lightspeed India, in a statement.

The other issue they struggle with is their skillset. “An electrician would end up working decades doing the same job. If only they had access to upskilling courses — and just knew how beneficial it could be to them — they would stand to broaden their scope of work and significantly increase their earnings,” said Parikh.

Apna is addressing this gap in multiple ways. In addition to establishing a community, and rolling out upskilling courses, the startup allows users — most of whom are first time internet users — easily generate a virtual business card. The startup then shares these profiles with prospective employers. (Some of the firms that have hired from Apna app in recent weeks include Amazon, Big Basket, and HDFC Bank.)

In the last one month, Parikh said Apna has facilitated more than 1 million job interviews — up more than 3X month-on-month. During the same period, more than 3 million professional conversations occurred on the platform.

Parikh said he plans to use the fresh capital to expand Apna’s offerings, and help users launch their own businesses. He also plans to expand Apna, currently available in five Indian cities, outside of India in the future.

There are over 250 million blue and grey collar workers in India and providing them meaningful employment opportunities is one of the biggest challenges in our country, said Harshjit Sethi, Principal at Sequoia Capital India, in a statement.

“With internet usage in this demographic growing rapidly, further catalysed by the Jio effect, apps such as Apna can play a meaningful role in democratizing access to employment and skilling. Apna has built a unique product where users quickly come together in professional communities, an unmet need so far,” he added.

A handful of other players are also looking for ways to help. Last month, Google rolled out a feature in its search engine in India that allows users to create their virtual business card. The Android-maker also launched its jobs app Kormo in the country.

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Sources: Apple is building ~75M 5G iPhones for later this year, along with two new Apple Watch versions, iPad Air with edge-to-edge screen, and smaller HomePod (Bloomberg)

Bloomberg:
Sources: Apple is building ~75M 5G iPhones for later this year, along with two new Apple Watch versions, iPad Air with edge-to-edge screen, and smaller HomePod  —  - Headphones, new Watch models, iPad Air, smaller HomePod coming  — Supply chain, consumer interest hold up in pandemic, recession

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Everybody is racing to an IPO — even Laird Hamilton’s young “superfood” company

This one is unusual: Laird Superfood, a five-year-old, 100-person, Sisters, Ore.-based startup that was cofounded by famed surfer Laird Hamilton and which makes plant-based packaged beverage products, filed today to raise up to $40 million in an IPO.

We’d reported on this company early last year in large part because it had attracted backing from WeWork, the co-working company that famously made a number of bets that were very afield from its business (including a maker of wave pools) before suffering a major meltdown last fall.

In fact, according to Crunchbase, WeWork Labs provided Laird Superfood with a whopping $32 million — the bulk of the $51 million it has raised altogether, per Crunchbase. (WeWork founder Adam Neumann has said that he surfed with Hamilton in Hawaii.)

At that time, WeWork’s investment was the strangest thing about the business, a largely direct-to-consumer business that makes “superfood” coffee creamers, beverage supplements like “performance mushrooms,” and Peruvian coffee beans, among an assortment of other things like teas and hot chocolate.

This IPO may be even more curious. Founded by Hamilton and another surfer, Paul Hodge, the company is very young to be going public by today’s standards (biotech startups notwithstanding). The company booked $19 million in sales for the 12 months ended June 30, but it lost $9 million over that same period and at the rate it is spending money, including on sales and marketing, it will see a net loss of $10 million this year.

Management says it has $13.1 million in cash on hand and investments. It would have more if it hadn’t spent $7.5 million buying back Series A-1 preferred shares in November 2019 that were purchased for twice that price. (The investor that sold its shares was also relieved of its commitment to fund another $10 million. It’s easy to imagine this was WeWork but we don’t know this.) Because of that outlay, the company actually probably did pretty well last year; it just can’t state it that way.

Still, we’re a little intrigued by this one. The company’s only outside shareholder that owns more than 5% of the company is Danone Manifesto Ventures, the corporate venture arm of the global food and beverage company. It owns 13.4% of the company. Why wouldn’t Danone, which looks to have invested $10 million in the business in April, just buy out Laird Superfood outright?

It could be that there’s much more than meets the eye here (or is reflected in its S-1). We’re certainly not opposed to companies trying to go public much sooner than has been in the case in recent years. The company is probably smart to take advantage of a hot market. We’re just wondering if this food company is completely baked.

Hamilton owns 13.2% of the startup. Hodge meanwhile owns 6.4%. Canaccord Genuity and Craig-Hallum Capital Group are the joint bookrunners on the deal. No pricing terms are included in the filing.

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Walmart+ launches Sept 15, offering same-day delivery, gas discounts and cashierless checkout for $98/yr

Walmart today officially unveiled its new membership service and Amazon Prime rival, which it’s calling “Walmart+.” The $98 per year service will combine free, unlimited same-day delivery on groceries and thousands of other items, with additional benefits, like fuel discounts and access to a new Scan & Go service, similar to Walmart-owned Sam’s Club, that will allow members to check out at Walmart stores without having to wait in line.

The service will be available starting on September 15, 2020 nationwide, reaching over 4,700 Walmart stores, including 2,700 stores that offer delivery. Members can choose to pay the $98 per year after a 15-day free-trial period, or they can pay $12.95 on a month-to-month basis.

At launch, the new program promises more than 160,000 items for same-day delivery with no per-delivery fee on orders totaling $35 or more. This is the same value proposition that Walmart’s existing “Delivery Unlimited” program offers today. With the launch of Walmart+, “Delivery Unlimited” members will be moved to the rebranded and expanded service.

In addition to delivery savings, the new Walmart+ membership will include fuel discounts of up to 5 cents per gallon on any fuel type at nearly 2,000 Walmart, Murphy USA and Murphy Express stations nationwide. Walmart+ members will enable the discounts by using the Walmart mobile app, either by scanning a QR code or entering a PIN at the pump. Further down the road, the program will expand to include Sam’s Club fuel stations as well.

Image Credits: Walmart

The Scan & Go membership perk, meanwhile, lets Walmart+ members pay without having to wait in checkout lines — a nice perk to have amid a pandemic, where time in store means time exposed to potential carriers of the novel coronavirus. Using the Walmart app, customers scan scan items as they shop, then pay for them using Walmart Pay for a touch-free checkout experience.

Walmart two years ago had tested cashierless Scan & Go technology in its stores, but killed the program due to shopper theft. Arguably, fewer people will use Scan & Go because it’s a paid service, which could help store staff better combat the earlier problems.

Image Credits: Walmart

As with “Delivery Unlimited,” the Walmart+ orders are picked by in-store staff then handed off to partners like Postmates, DoorDash, Roadie and Point Pickup for delivery. Not owning the end-to-end experience can cause issues for consumers, however — especially because a poor delivery experience can damage Walmart’s reputation, or because customer service issues can’t be always dealt with directly when a middleman is involved. Walmart has also seen partners come and go, as delivery services ended their relationship with Walmart over the costs involved.

Walmart claims its new program is not a Prime rival. But it could encourage some number of Prime members to make a switch.

“We’re not launching Walmart+ with the intent to compete with anything else. We’re launching it with the needs of customers in mind,” explained Walmart Chief Customer Officer Janey Whiteside.

“Of course, I hope that brings in more customers and makes them more loyal, but when you’re as big as Walmart is — and serving as many people as we are — this is about really doubling down with the customers that we have and getting more share of wallet and more share of mind,” Whiteside added.

Prime is a much more expansive program. For comparison, Prime offers tens of millions of products for two-day delivery, over 10 million for one-day delivery and over 3 million for same-day delivery on orders of $35 or more. Walmart+ is focused more specifically on same-day delivery, as Walmart.com already offers free one-day or two-day shipping on orders of $35 or more without requiring a membership fee.

Prime today also offers a huge array of other perks — like access to free music, video, audiobooks, Kindle books and more. Walmart+ does not.

Still, for many customers, the value in Prime is rooted in its promise of speedy delivery. But at the same time, Amazon has tested the limits of its customer loyalty by steadily raising Prime’s subscription price over the years to now $119 when paid annually, or $12.99 per month. Walmart+ undercuts Prime at $98 per year or $12.95 per month while largely catering to the online grocery shopper — a target market that has rapidly grown during the pandemic. Walmart recently reported the pandemic helped drive its own e-commerce sales, fueled  by online grocery, up 97% in the past quarter.

Image Credits: Walmart

Meanwhile, Amazon’s grocery strategy since its 2017 purchase of Whole Foods has yet to be streamlined. Amazon today continues to offer two different online grocery services, Amazon Fresh and Whole Foods, with a varying array of pickup and delivery options, potentially leading to consumer confusion.

That said, the pandemic has led to massive sales increases for Amazon and Walmart, along with other essential retailers like Target, with all involved reporting stellar earnings in recent quarters.

Walmart’s plans for a new subscription program had previously been reported and a placeholder website has also been live for some time. In August, Walmart CEO Doug McMillon told investors on the company’s earnings call that it was readying the launch a membership program that would be centered around delivery. He noted also at the time how Walmart’s existing “Delivery Unlimited” subscription, launched last year, would serve a “great base of an offer” for the broader program, but didn’t offer a launch time frame.

Earlier reports said the service would include other perks, like access to more grocery time slots, promotional deals and eventually a Walmart+ credit card. The retailer declined to speak to its plans, only saying that Walmart+ benefits would expand over time.

“As is the case with any great membership offering, these benefits are not intended to be static. We will continue to leverage our assets and scale to bring solutions at unprecedented value, all while holding true to the everyday low prices that customers know they can always expect from Walmart,” Whiteside said. “In the future, we will be leveraging our wide-ranging strengths to add additional benefits for members in a range of both services and offerings,” she added.

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Walmart unveils its new membership service Walmart+, launching Sept. 15 for $98 per year, will offer free, unlimited same-day delivery, fuel discounts, and more (Sarah Perez/TechCrunch)

Sarah Perez / TechCrunch:
Walmart unveils its new membership service Walmart+, launching Sept. 15 for $98 per year, will offer free, unlimited same-day delivery, fuel discounts, and more  —  Walmart today officially unveiled its new membership service and Amazon Prime rival, which it's calling “Walmart+.”

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Stanford launches Cable TV News Analyzer, a free AI-powered online service for querying the screen time of public figures or specific topics on cable TV news (Thomas Macaulay/The Next Web)

Thomas Macaulay / The Next Web:
Stanford launches Cable TV News Analyzer, a free AI-powered online service for querying the screen time of public figures or specific topics on cable TV news  —  A new AI-powered tool can show you how much screen time different public figures and topics are getting on TV.

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Google quietly updates its AdMob Help Center with iOS 14 information, says it will use Apple's ATT API for triggering the IDFA opt-in notice (Allison Schiff/AdExchanger)

Allison Schiff / AdExchanger:
Google quietly updates its AdMob Help Center with iOS 14 information, says it will use Apple's ATT API for triggering the IDFA opt-in notice  —  Like all companies invested in the mobile ecosystem, Google is getting ready for iOS 14.  But the company is playing its cards close to the vest.

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US hotel operator MCR Development to buy StayNTouch, a cloud platform for hotels, for $46M, after Trump said StayNTouch's Chinese owners threaten US security (Katy Stech Ferek/Wall Street Journal)

Katy Stech Ferek / Wall Street Journal:
US hotel operator MCR Development to buy StayNTouch, a cloud platform for hotels, for $46M, after Trump said StayNTouch's Chinese owners threaten US security  —  MCR Development's planned acquisition comes after Trump said ownership of StayNTouch by Beijing Shiji Information Technology threatens U.S. security

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Gillmor Gang: Platforming

 

Much was made during the Republican Convention of the lack of a party platform. The media characterized this as a capitulation to the Cult of Trump phenomenon, but the questioned begged was: so what? If you’re running as a candidate to disrupt the status quo…. But beneath the media framing, an important question emerges. What exactly is the platform we need to emerge from the toxic situation we find ourselves in?

For months, if not years, the technology industry has been working on a new platform to succeed the previous one. Mobile would seem to be that fundamental shift from the desktop world of Windows and PCs. The twin dominance of powerful phones by Google and Apple has created a new language of notifications and streaming video perfectly timed for the devastating pandemic. Our devices are now the front lines for managing the struggle to stay alive for our loved ones, the economy, and our future.

Zoom is of course the poster child for all that it enables, and certainly what it doesn’t. The notion of work from home is more likely a question of what is home and what’s the difference with work? The routines of life are congealing around the interactions with phone, watch, iPad, laptop, and TV. When I wake up, the first dive is for the notification stream built up overnight from overseas and then the East Coast. The rhythm varies from day to day: intense on Monday as the weekend cobwebs dissipate, more issue oriented through the middle of the week, and finally a thank-god-it’s Friday feel. Email, text messages, media updates, and work calendar reminders.

And then there’s the outline of the new platform — live streaming notifications from what some call citizen media, or the influencer network, or the loyal opposition. That last one refers to the decline in trust of the mainstream media. Maybe it’s just me, but the cable model of host-driven cyclical repetition of the headlines, talking heads, and medical ads adds up to a trip first to the mute button and eventually the off switch. Which plugs me right back into the notification stream and a new contract with us based on whether we click on the link or even allow the notification in the first place.

And these new voices are networks of one or a few, broadcasting on a global reach pastiche of cloud services that begin with the ubiquity of Zoom and its click and you’re there ease of on boarding. Then there are the key networks of record as it were: Facebook Live, Twitter/Periscope, YouTube, and maybe LinkedIn if you’re Brent Leary and got an early invite. There’s a whole bunch of streaming accelerators like Restream and StreamYard and Just Streams (I made that up) to use software and a dash of hardware to do what it took many thousands of dollars and cables just a few years ago. Right now it’s early days, but soon you’ll be seeing something that looks like the media it’s replacing as the OG buys in.

Don’t believe me? Just look at how streaming has disrupted the television industry. Or the music business. Or the reemergence of podcasting and newsletters. Or how messaging is growing rapidly as a preferred digital commerce and marketing channel. The pandemic has certainly had a devastating effect with the loss of theaters, events, and travel that drive so much of our economy and the emotional underpinning of our lives. But as we learn to respect the power of the virus to force this digital wave of transformation, we fuel the winners that emerge from a new hybrid blend of evolution and adaptation.

Technology has often been seen as impersonal and cold to the touch. But now we should be making friends with robots for touchless shopping, At the beginning of this Gillmor Gang session, Frank Radice seemed stunned by the administration’s takeover of the symbols of our Washington monuments for political purposes. By the end, he seemed more hopeful of a different result. We have more ways now of making our voices heard, broadcasting our own names in fireworks above and beyond the fake news and suppression. Our platform: suppress the virus, not the vote.

__________________

The Gillmor Gang — Frank Radice, Michael Markman, Keith Teare, Denis Pombriant, Brent Leary, and Steve Gillmor. Recorded live Friday, August 28, 2020.

Produced and directed by Tina Chase Gillmor @tinagillmor

@fradice, @mickeleh, @denispombriant, @kteare, @brentleary, @stevegillmor, @gillmorgang

For more, subscribe to the Gillmor Gang Newsletter and join the notification feed here on Telegram.

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Reinvent Technology Partners, a new SPAC formed by Reid Hoffman, Zynga founder Mark Pincus and hedge fund manager Michael Thompson, have filed for a $600M IPO (Kirsten Korosec/TechCrunch)

Kirsten Korosec / TechCrunch:
Reinvent Technology Partners, a new SPAC formed by Reid Hoffman, Zynga founder Mark Pincus and hedge fund manager Michael Thompson, have filed for a $600M IPO  —  Reinvent Technology Partners, a new special purpose acquisition company formed by famed investor and serial entrepreneur Reid Hoffman …

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