Month: May 2018

As Slack looks to woo larger and larger companies with the prospect of a simpler workplace collaboration tool, the company said it has now hit 8 million daily active users.

The company said it also has 3 million paid users. A darling in Silicon Valley, Slack was initially able to capitalize on pent-up demand for workplace communications tools that were much simpler and easy to use. Companies like Yammer, Microsoft, and others looked to remake internal communications in ways that looked more like consumer tools in the Web 2.0 era, but Slack came out with an approach that was initially just a slick chat and team communications tool. That helped it rocket to a $5.1 billion valuation and drive its initial adoption among smaller companies and startups.

Slack in September said it had around 6 million daily active users, 50,000 teams and 2 million paid users, and around $200 million in annual recurring revenue. So it’s a pretty significant jump over the past nine months or so, though the company still has to break from the perception that it’s a tool that’s just good for startups and smaller companies. The larger enterprise deals are the ones that tend to drive larger contracts — and additional revenue — as it looks to build a robust business. More than half of Slack’s users are outside the U.S., a signal that it looks to continue to expand into new regions that may demand tools like Slack beyond just domestic markets.

Slack has been trying to roll out additional tools to support those larger companies, rather than just operate as a chat tool that can get out of control when companies have thousands of employees. The company has invested heavily in machine learning tools to make it easier to search for answers that may already exist in some Slack channel or direct message. Slack also rolled out threads, a long-awaited feature that users often demanded though it wasn’t clear how that would exist in Slack’s simpler interface.

There are already startups looking to pick away at niches that the company might not necessarily fill, too. Slite, a startup looking to build a simpler notes tool that would create a smarter internal wiki of sorts, raised $4.4 million last month. There’s also Atlassian’s Stride, which opened up to developers in February this year. And Microsoft has its own Slack competitor, Teams, that continues to get pretty big updates. Slack clearly exposed a lot of pent-up demand for similar tools, and now faces a lot of competition going forward.

Slack started the Slack Fund as a way to woo developers to build tools for Slack, and early last year invested in 11 new companies. The company has been trying to create a robust ecosystem where developers can fill the niches that the company might be missing, but has looks to focus on its core products. The company says there are now more than 1,500 apps in the Slack directory.

from TechCrunch

Dreamlines, which claims to be Europe’s largest online travel agency specialising in cruise-related travel, is disclosing that it has raised €45 million in series E funding. The round is led by Princeville Global, with participation from existing investors that include Holtzbrinck Ventures, Target Global, Dimaventures, Hasso Plattner Ventures, TruVenturo, and Rocket Internet’s Global Founders Capital.

Founded by Felix Schneider in 2012, Hamburg-based Dreamlines can be thought of as a Booking.com or Expedia but for cruise holidays and other cruise line type travel. The OTA connects customers to what it says is the largest portfolio of cruises around the world, including holiday packages exclusive to Dreamlines.

Meanwhile, unlike other forms of holiday and travel, the cruise industry is only more recently being digitised, a sentiment echoed by Emmanuel DeSousa, Managing Partner of Princeville Global, who joins the Dreamslines board.

“The cruise industry is the last sizable, global travel segment to be disrupted by a tech-focused online booking platform,” he says. “Under the leadership of its visionary founders, Dreamlines is uniquely positioned to continue transforming the cruise industry to an online model, leading in Europe and expanding around the world”.

To that end, Dreamlines says the investment will support its continued growth and international expansion. The company currently operates in 10 countries, partnering with over 100 cruise operators, and has raised around €110 million to date.

Adds Christian Saller, General Partner at HV Holtzbrinck Ventures and the Dreamlines chairman: “As an early investor, HV Holtzbrinck Ventures has seen Dreamlines grow by a factor ten since its initial investment into the European market leader. The new investment will allow Dreamlines to continue this success story”.

from TechCrunch

Alibaba has expanded its e-commerce empire into South Asia after the Chinese internet giant acquired Daraz in an undisclosed deal.

Daraz was founded in 2012 by Rocket Internet and today it operates in Pakistan as well as Bangladesh, Myanmar, Sri Lanka and Nepal. Rocket said in a statement that Alibaba has acquired the entire Daraz business. The deal is the second time Alibaba has bought a Rocket company, the first being Lazada in Southeast Asia two years ago.

Rumors of a deal have been rife for the past couple of months, with Bloomberg reporting in March that acquisition talks were ongoing.

The deal is part of Alibaba’s second wave of international expansions which see it enter South Asia.

The company initially focused on India — where it has backed Paytm — and Southeast Asia with Lazada, but this year it has spread its wings into lower profile but hugely populous countries in South Asia. Pakistan, for example, has a population of over 190 million. The acquisition of Daraz follows a fintech investment from Alibaba affiliate Ant Financial, which runs Alipay and other Alibaba financial services.

Back in March, Ant paid $184.5 million for a 45 percent stake in Telenor Microfinance Bank, a fintech division from Norwegian operator Telenor, which operates Pakistan’s second largest telco. That one-two punch of e-commerce and fintech (particularly payments) is a common move from Alibaba-Ant, which has made similar deals in India and across Southeast Asia.

Beyond Pakistan, it looks like Alibaba is also eying nearby Bangladesh, which has a popular of over 160 million and rising internet adoption.

According to reports last month, the Chinese firm is pushing to buy a 20 percent chunk of payment firm bKash, a move that would again push its reach deeper into South Asia.

from TechCrunch

Singapore-based e-commerce startup ShopBack came on the radar when it raised $25 million last November, and now the company is making its first acquisition.

ShopBack said today it has picked up Seedly, a fellow Singaporean startup that offers a personal finance service, in an undisclosed deal. The entire team will move over and Seedly will continue as a business under ShopBack’s management.

The ShopBack service is an e-commerce aggregator that helps online sellers reach customers and incentivizes consumers with cash-back rewards. Seedly, meanwhile, is designed to simplify finance for millennials and young people across Southeast Asia. It was founded two years ago and raised seed funding from East Ventures (also a ShopBack investor) and NUS Enterprise in 2016, it also graduated Singapore bank DBS’s “hotspot” pre-accelerator program.

The deal is a fairly rare example of a smaller startup in Southeast Asia being acquired by a larger one for more than just talent, and there seems to be plenty of potential synergies between the two services.

ShopBack aspires to have close touchpoints with how young consumers in Southeast Asia spend their money online, so helping them to manage it plays into that focus. Meanwhile, Southeast Asia isn’t blessed with many local consumer finance services — despite more than 330 million internet users — so the Seedly business can benefit from ShopBack’s regional presence for expansion.

The announcement of the deal comes 24 hours after ShopBack rival iPrice, which aggregates e-commerce in Southeast Asia, picked up a $4 million investment led by chat app company Line’s VC arm.

ShopBack has raised over $40 million to date from investors that include Credit Saison, AppWorks, Intouch, SoftBank Ventures Korea and Singtel Innov8.

from TechCrunch