Snapchat officially files for IPO
Snapchat officially files for IPO.
Snapchat’s revenue growth is astounding — and so are its losses.
Here are the highlights.
Snap also revealed that it will spend $2 billion with Google Cloud over the next five years, and that boss Evan Spiegel got nearly $900,000 of security services in 2016. “Our two co-founders have control over all stockholder decisions because they control a substantial majority of our voting stock….We are not aware of any other company that has completed an initial public offering of non-voting stock on a U.S. stock exchange.
The company’s usage statistics also revealed how popular it is with teens, even if it’s less so with adults. “The majority of our users are 18-34 years old,” the filing said. “This demographic may be less brand loyal and more likely to follow trends than other demographics… Snapchat also may not be able to penetrate other demographics in a meaningful manner.
For example, users 25 and older visited Snapchat approximately 12 times and spent approximately 20 minutes on Snapchat every day on average in the quarter ended December 31, 2016, while users younger than 25 visited Snapchat over 20 times and spent over 30 minutes on Snapchat every day on average during the same period.”
Still, the company has a diverse revenue stream: No single advertiser or content partner accounts for more than 10 percent of revenue, the filing said.
New York Women Just Keep Getting Better at Raising Money
New York Women Just Keep Getting Better at Raising Money.
And the number of New York women entrepreneurs who raised the next stage of institutional funding–the Series B–more than doubled in 2016.
In New York, 17 percent of all A-rounds went to female founders.
Led by CEO Rachel Blumenthal, Rockets of Awesome is a kids-clothing subscription service.
It raised $9 million from Three Leaf Ventures and Zaffre Investments.
In New York in 2015, just four women raised a B round.
It raised $24 million in a deal led by Institutional Venture Partners.
It raised $20 million in a deal led by Sequoia.
Of the companies listed above, Female Founders Fund was an investor in Rockets of Awesome, and also was an early investor in three of the female-led companies that went on to raise A rounds.
It’s also interesting to note that Aspect Ventures, a fund founded by two female venture capitalists, invested in two of the deals listed above.
Spotify may shift its initial public offering to 2018: Sources
Spotify may shift its initial public offering to 2018: Sources.
Along with Snap’s impending initial public offering, various other tech companies including Airbnb and Spotify were also said to be considering going public.
However, as per the latest news coming in from various sources, Spotify may delay its IPO until next year so as to build a better balance sheet to show to potential investors.
The company, which has over 100 million users, could introduce changes to its licensing relationship with popular music labels.
Such an arrangement would of course, benefit the song streaming service more than the licensing labels themselves.
However, most reports put the valuation should the company IPO now, at around $8 Billion — which is also around what the company itself reported as its public valuation back in 2015.
To put things in perspective, competitor Pandora has a valuation of $3 Billion.
Spotify’s margins to put things bluntly, aren’t particularly strong.
The service is currently live in 60 different markets and offers users a choice of 30 million songs in different languages.
The company is doing reasonably well, however, it may want to be very certain before it goes public and hence the delay.
4 Ways to Break Your Most Powerful Bad Habits
4 Ways to Break Your Most Powerful Bad Habits.
But this kind of reactive habit isn’t efficient for creative work, which demands a more proactive and focused approach that takes into account the context and goals of the project.
So how do you break out of the bad habit loop?
Can you use collaboration software to get updates on a project or to provide feedback on creative work when you’re ready to focus on that type of work?
There are many reasons why people get into the habit of saying yes to things at work, even when that’s a really bad idea.
Be honest about what you can take on, hire people you trust so you can delegate with confidence, or simply put your headphones on so people know to leave you alone.
So how can you cut unnecessary meetings out of your day?
An instant message can get you an answer in seconds while collaboration tools offer an asynchronous approach to reviewing creative work that provides efficiency with context without the inefficient logistics of trying to get everyone together at the same time.
Document your project plans.
In the conclusion of Power of Habits, Duhigg writes that “once you understand that habits can change, you have the freedom — and the responsibility — to remake them.”
Oasis Receives $2.5 Million for Its Hotel-Style Home Rentals: Travel Startup Funding This Week
Oasis Receives $2.5 Million for Its Hotel-Style Home Rentals: Travel Startup Funding This Week.
This week Marcou Transportation Group acquired GroundLink, a service that enables corporate travel managers to schedule black car service and that had raised $20 million.
Two of GroundLink’s rivals also merged, when iCars bought Limos.com this month.
(Limos.com had raised more than $15 million.)
Each week we create a roundup of travel startups that have received or announced funding that week.
Founded in 2013 out of a coder’s boot camp, Compathy says it has 1.5 million active users and 40,000 trip records.
Mobile Internet Capital led the round.
>>Tripaneer is a Dutch startup that creates several booking and content websites for themed travel experiences.
For example, it has made BookYogaRetreats.com, which it says is the largest yoga travel website with 2,895 organizers in 254 destinations.
It faces competition from long-standing companies like Travelpd.
Troubleshooting Your Life to Control Your Time
Troubleshooting Your Life to Control Your Time.
You need to control your time rather than just haphazardly try to manage it.
Although I certainly don’t have some scientific formula that will magically make this easier, I can tell you one thing: If you start with a commitment to success and then agree to control time, you will create an agenda that accommodates all you want.
Get everyone necessary — your family, colleagues, associates, employees — to recognize and agree upon which priorities are most important.
My schedule works for me because everyone in my life from my wife to the people who work with me knows what is most important to me and understands how I value time.
This allows us to handle everything else that comes our way.
In our culture, we’re frequently encouraged to “slow down, relax, take it easy, find balance” and just “be happy” with where we are and what we have.
Work should provide a purpose, a mission, and a sense of accomplishment.
Get to controlling your time!
A great way to spend some time this spring is going to be attending 10X GrowthCon.
Do You Need an Assistant, or Do You Just Have to Work Harder?
I’d like to pose three strategy questions to help you figure out whether now is the time for you to hire someone and where they will add the most value to your business.
Is it time for an assistant or a strategy overhaul?
Next to each, write down how many clients you’ve generated.
On the other hand, if your challenge is a steady stream of clients generating administrative work, which takes you away from serving your clients and getting new ones, you need to hire someone.
If you’re further along in your business, and spend lots of time on non-revenue generating activities, you can’t afford not to hire an assistant.
What kind of assistant should you hire?
If you can’t explain how an assistant will contribute to at least one of these outcomes, then it’s either the wrong time to hire or you haven’t figured out what you need an assistant to do.
I recommend using Excel and creating a spreadsheet with nine columns: Daily/weekly activities Revenue generating or admin Essential or optional Activities I love and do well Activities I can do but don’t enjoy Activities I’m not skilled at Activities I hate doing Time spent Cost/income Start by listing your ongoing activities in the first column.
In the final column, list how much money each activity has cost or generated.
An assistant can be a needless business cost or one of the most valuable resources you have.
Exclusive: Student micro-financing startup SlicePay acquires P2P lender Trustio
Blume Ventures-backed digital payment platform for college students SlicePay has acquired Trustio, a New Delhi-based peer-to-peer lending company, in an all equity deal.
Trustio is an invite-only alumni network that offers students and recent graduates a platform for borrowing and lending.
As part of the acquisition, Bharadwaj, the chief executive of Trustio, and a number of employees from the firm’s seven-member team, will join SlicePay at Bangalore.
SlicePay is a micro-lending platform for students to purchase products on credit without collateral.
SlicePay provides credit line of up to Rs 60,000 to students from over 300 colleges in Bangalore and Chennai through its proprietary risk mechanism.
The final loan disbursal is done by one of the two consumer lending NBFCs they work with.
Bajaj claimed the startup disburses around 15,000 loans a month currently with an outstanding credit line of about Rs 28 crore and growing at 18% week-on-week.
He said the company will venture into offering its services to young professionals in three years.
Early last month, Gurgaon-based fintech startup Loan Frame Technologies Pte Ltd raised $2.25 million (Rs 15.3 crore) in seed investment led by Vedanta Capital, with participation from other investors.
In December 2016, Gurgaon-based Indifi Technologies Pvt Ltd, floated by angel investor and venture capital firm Canaan Partners’ former India chief Alok Mittal, raised $10 million (Rs 66.5 crore) in a Series B funding round led by Omidyar Network.
The January 2017 NYC Venture Capital and Angel Funding Report
The January 2017 NYC Venture Capital and Angel Funding Report.
Today, I take a look at the state of venture capital and angel funding during the month of January, both in New York and nationally.
Analyzing some publicly available data from our friends at CrunchBase, we break down the national aggregate statistics for all funding deals by stage of funding (Angel/Seed, Series A, Series B, and Series C+, as well as venture unspecified rounds less than $10M).
For the purposes of this analysis, biotechnology companies were excluded to maintain a focus on tech-enabled startups.
The AlleyWatch audience is driving progress and innovation at a global scale.
Reaching more individuals in a single month than every other tech-focused organization in NYC combined, AlleyWatch is the highway for technology and entrepreneurship in New York.
There are a number of options to reach this audience of the world’s most innovative organizations and startups at scale.
Find out more here.
The Last 8 Years Were Pretty Good for Many Entrepreneurs
The Last 8 Years Were Pretty Good for Many Entrepreneurs.
Well, it’s unpolitical as much as any can be said to be about anything written in our post-fact, accusation-as-condemnation and everything-is-emotionally-charged world.
It’s hard not to get political in such a climate, but I just wanted to look back on the last eight years, which were for me, and many other entrepreneurs, pretty fruitful.
So, I will stay away from politics except for raging against the Mayans for convincing me the world was going to end five Decembers ago, which naturally prompted me to borrow six figures from Joey “The Mackeral” MacInosh at usurious vig because, well, I reasoned that once the world ended I would finally be debt free.
Let’s go back in time.
There, I helped to found Rockford Greene International, a company a friend had incorporated just a couple of months earlier.
During those six weeks, I was busy with small contracts, but ones big enough to pay for Rockford Greene International’s initial start up expenses.
It’s true, too, that for those working in domestic oil and gas, things haven’t been all that great, either.
But, again, that is true in any economy.
The Great Recession had a sobering effect on businesses.
Indian Startups, It’s Time to Play the Game of Chess Instead of Snake & Ladders!
Indian Startups, It’s Time to Play the Game of Chess Instead of Snake & Ladders!.
They have been dumped in the troughs of low valuations and need a lot of luck to roll the dice in their favour and get back on track.
The luck-based game of snakes and ladders has done more harm than good Snakes and ladders is pretty much a game of luck, where one roll of the dice decides your fate.
This is how the startup game too has been playing out so far, with a lot depending on how lucky start-ups have been with getting funding.
For instance, the golden era of the Indian startup industry has been ruled by the likes of Flipkart that has raised around 3.2 billion so far and created history.
However, its valuation has now been rolled down to $10 billion; the 4th devaluation in a row.
Most importantly, the game of chess is a cerebral game and not dependent on the roll of a dice, like snakes and ladders.
Here, every move it strategically planned and there are different moves you can plan to reach your end goal.
Running a startup should also be a well thought out game plan in all aspects and every move should be calculated to protect the health of the company.
For a startup to be on top of the game, it is important that you weigh your every move and know precisely where you’ll be standing, irrespective of whether you fail or succeed with each move, and then start afresh from that point to realize your vision; pretty much what chess is all about.
Lessons From 6 Business Superstars
Here are my “top business lessons” I’ve collected from the people who have been there and done it all.
Barbara Corcoran: Learn to take a hit and get back up.
It’s about how hard you can get hit and keep moving forward.” Beth Comstock of GE: Keep innovating.
Christie Hefner of Playboy: Work successfully with family.
And for many people in a family work environment, the main test is being able to work and live together.
They’ve been working for me for a number of years; and, so far, we’ve made it work.
Then comes that one moment that makes us realize, “I’m not really that much of an expert.”
You do whatever you have to, to learn everything there is to know and actually be that expert.
Cardone shows the value of working consistently to enhance your social media presence by constantly engaging your audience using the lessons you’ve acquired along the way.
What are some of your own best business lessons?
Facebook Developing New Streaming Video App for TVs
Facebook Developing New Streaming Video App for TVs.
There’s no shortage of streaming apps available for your TV today, but soon there may be a new one from Facebook.
The Wall Street Journal, citing unnamed sources, on Tuesday evening reported that Facebook is developing a “video-centric” app for set-top boxes such as Apple TV.
For Facebook, the move is all about bringing in more advertising revenue.
With News Feeds already cluttered with ads, Facebook needs somewhere new to put them, so it’s turning to home TVs, the report notes.
The social network has been mulling this idea “for years,” but started putting plans in motion last summer, the Journal said.
Meanwhile on the streaming front, Comcast yesterday released a beta version of its Xfinity TV app for Roku devices.
During the beta phase, you’ll need to have at least one Comcast-provided TV box in your home, but the Roku app will let you get live and on-demand cable content on a second TV.
Ditching the box doesn’t mean ditching the fee, though.
More from PCMag
Joining a Pitch Fest for Business Financing
Well, slams aren’t just for poets anymore — entrepreneurs compete in pitch slams, where they try to wow the judges with the best pitches.
Entrepreneurs who’ve won or run pitch slams offer the following suggestions.
Hook them early “You really need to be able to convey what you do in the first 30 to 60 seconds,” says Sanjay Parekh, a serial technology entrepreneur and founder of Startup Riot, a twice-yearly competition in Atlanta that gives contestants three minutes to pitch and compete for startup cash and initial investor meetings.
Inspire confidence Explain why you and your product are qualified to fulfill this market need.
Three questions to focus on during a pitch slam When participating in a pitch competition, most entrepreneurs make the mistake of solely focusing on their pitch and neglecting to prepare for the Q&A.
Who’s on your team?
Start off by talking about your team’s experience in your market, what key skills each member brings and why your team is the right one for the job.
Most contestants will talk about how they have a “rock star” team, then list some impressive accomplishments (Ivy League graduates, proven track record, worked at Google and so on).
Since a key point of the traction question is about reducing risk, talk about what traction you’ve made learning about what your customers want.
When you can say that initially you thought X but through talking with users and tracking feedback you actually learned your users want Y and Z, you demonstrate that you’ve been making strides in refining your business.
The Major Players You’ll Work With When Running an Import/Export Business
Export trading company (ETC).
Instead, he purchases goods directly from a domestic or foreign manufacturer, then packs, ships and resells the goods on his own.
A buyer, otherwise known as an importer.
Toward those goals, the U.S. government created the U.S. Customs and Border Protection Agency (CBP) and the U.S. Immigration and Customs Enforcement Agency (ICE).
Acting as the exporter’s agent, the international freight forwarder uses their expertise with foreign import rules and regulations as well as domestic export laws to move cargo to overseas destinations.
Like customs brokers, freight forwarders are licensed, but in this case, by the International Air Transport Association (IATA) and Federal Maritime Commission (for ocean freight). ‘Swimming the trade channel’ Now it’s time to take a swim in the trade channel, the means by which the merchandise travels from manufacturer to end user.
The middleman can be a merchant who purchases the goods and then resells them, or they can be an agent who acts as a broker but doesn’t take title to the stuff.
A company that buys the product you’ve imported and sells it to a retailer or other agent for further distribution until it gets to the end user.
A salesperson who pitches your product to wholesale or retail buyers, then passes the sale on to you; differs from the manufacturer’s rep in that they don’t necessarily specialize in a particular product or group of products.
Stars Like Dr. Phil and Martellus Bennett Share Their Success Stories
Stars Like Dr. Phil and Martellus Bennett Share Their Success Stories.
Entrepreneur TV focuses on entrepreneurs, startups and stars who have created their own products or launched their own businesses.
You’ll learn success secrets from celebrities, productivity hacks from billionaires and more.
On the third episode of Entrepreneur TV, learn from stars like: Martellus Bennett Dr. Phil McGraw Gerard Adams .
Football star Martellus Bennett explains life on and off the field, and how football has impacted business.
Successful entrepreneur Gerard Adams shares stories from his past and how he took control of his destiny.
Learn from actor Eric Stonestreet from the hit show Modern Family about creativity, drive and challenging yourself.
Entrepreneur and founder of the lifestyle company Lokai, Steven Izen, shares a time when his business was put to the test.
And lastly, don’t miss Dr. Phil McGraw share his path to success.
To learn more, click play.
Boomerang Employees: an Untapped Talent Source?
Boomerang Employees: an Untapped Talent Source?.
And companies are rehiring old employees.
According to a recent survey, 76 percent of HR professionals said they are more willing to hire a boomerang employee now than in the past.
Those hiring managers could be on to something.
Can you imagine if Apple hadn’t welcomed Steve Jobs back after he left?
Rehiring might seem risky, but it can have many benefits as well.
In the same way, boomerang employees could very well prove to be even better for you in their second-act performance than they were the first time around.
Both HR professionals (33 percent) and managers (38 percent) said in a Workplace Trends survey that familiarity with the organization’s culture is the biggest benefit to hiring back former employees.
By reaching out to your network of past employees directly, you’ll reduce some of the money — up to $20,000 for some companies — and time normally needed for other more widespread recruitment solutions.
Some of those former employees may be thrilled to hear from you and will gladly boomerang right back to familiar territory.
The Goal Standard Challenge: How to Ensure You Get Results With Your Accountability Group
The Goal Standard Challenge: How to Ensure You Get Results With Your Accountability Group.
When it comes to achieving a goal, a lot of people keep their intentions to themselves.
They don’t want to share their goal with anyone, because if they fail, they feel like they will disappoint others.
In our second week of The Goal Standard Challenge, known as the Honeymoon Stage, accountability expert Ali Schiller shares in a Facebook Live how to find a power-packed accountability buddy or group and three requirements to make these meetings a success.
Related: If You Want to Actually Achieve a Goal, Follow These 6 Tips Check out her Facebook Live video to get more advice.
Also, download her accompanying worksheet Weekly Commitments, Goals and Habits.
If you haven’t signed up for The Goal Standard Challenge email, go to our content hub.
Also, if you are late to the challenge, no worries.
The hub has all the past weeks’ information, videos, content and resources.
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