E27.CO: Singapore can be called a business nation: values this country has contributed to the world’s economy have totally changed the way a business can be run. Singapore has led in the World Bank’s Doing Business Survey for years persistently proving its status of “the world’s easiest place to do business”. Everything in the country works for tremendous business results. (more…)
WIRED: Tesla is admired for building the cars of the future. But it’s not really a car company. It’s a battery company that happens to make electric cars. At least, that’s the trajectory suggested by the news that Tesla will soon sell mega-batteries for homes and electric utility companies. CEO Elon Musk mentioned the possibility during an earnings call last February, and the plan was reportedly confirmed in an investor letter revealed yesterday. The official announcement is set to come next week. (more…)
The Finanser: Matthias Kröner has been CEO of Fidor Bank since 2006. He is responsible for investor relations, corporate communications, strategic development and communities. Fidor is an internet bank, its primary account combines elements of a traditional bank account with internet payments and innovative banking services. Fidor was the first bank to integrate Ripple’s payment protocol, allowing its customers to instantly send money in any currency in any amount. (more…)
Uber and Capital One are excited to announce a partnership that enables Uber riders to get 20% back as a statement credit on every Uber ride through April 2016 when they pay with Quicksilver from Capital One. The offer applies globally in more than 300 cities where Uber operates.
WIRED: As he speaks, Jeff Chang surveys his kingdom. Android Wear’s product manager, the man most directly responsible for the progress of Google’s wearable platform, is seated at a large conference-room table in Google’s San Francisco office that is fully half-filled with Android Wear devices. No two are alike: seven different models, countless colors and bands. Every color of Sony Smartwatch 3 here, a dozen Moto 360s there. He’s wearing an LG Watch Urbane, and there are two others on the table. There’s a particularly gaudy Huawei Watch, which I can’t stop touching during our meeting. And all this, he says, gesturing around, is just the beginning. (more…)
Business Insider: More than a third of the top tech companies in the US were founded by people born outside of the country. Their success stories drive many immigrants to come to the US in hopes of realizing the American Dream. But just looking at their success makes it easy to overlook the fact that a lot of the immigrant founders had to overcome other problems – from language barriers to financial constraints – to achieve their extraordinary success. (more…)
WIRED: Etsy began its life as a publicly traded company today, entering a new and apparently lucrative era for the online marketplace that once crafted an identity as an artisanal alternative to mainstream marketplaces.
Shares opened at $31, a huge 94 percent surge from its initial public offering price. With stock now trading at over $34 a share, that values the company at close to $4 billion. The company raised $267 million in total.
For many of Etsy’s 1.4 million sellers and 19.8 million buyers, today’s IPO success is likely bittersweet. It represents the culmination of a protracted period of hand-wringing and sometimes bitterness among Etsy’s community of crafters and artists as the company made moves into the mainstream. In the fall of 2013, in a bid to increase revenues, Etsy changed its terms of service to let sellers offer goods outsourced to massive manufacturing partners rather than made by their own hands. This offended some of the site’s early users, who saw the deed as Etsy selling its soul. Some even moved their operations off the site.
But the decision paid off, boosting revenue from $125 million in 2013 to $195 million in 2014. And judging from today’s successful IPO, investors like that trajectory. Yes, $4 billion is still a far cry compared to the valuations of its bigger competitors: eBay ($69 billion), Amazon ($178 billion), and Alibaba ($210 billion). By those comparisons, you might even still call Etsy “niche.”
Still, going corporate could create strain as Etsy tries to negotiate the expectations tied to its original brand identity while satisfying its obligation to all its new shareholders. Signs of that tension appeared even before the IPO. In an unconventional move, the company allotted five percent of its shares to its sellers and other smaller investors, giving them the opportunity to buy as much as $2,500 in stock before the company’s public debut. That reportedly frustrated some institutional investors because it shrunk the pool of shares available to them.
But it’s hard to imagine anyone being too upset now, at least not anyone with Etsy shares. The company is now among that elite club that have pulled off red-hot internet IPOs, the kind of exit more typically expected of buzzy startups like Slack (which, just this morning, raised a $160 million round at a $2.8 billion valuation). It’s especially surprising considering how long Etsy took to get to this point. Instead of rushing to market, its journey into the mainstream took ten years—handcrafted piece by handcrafted piece.
Read more on the topic: TECHCRUNCH
FAST COMPANY: On April 12, 1961, Cosmonaut Yuri Gagarin became the first human in space. Turns out he also inspired one helluva party. For the last 15 years, space enthusiasts around the globe have gathered on or around April 12 for International Yuri’s Night, space-themed events featuring a mixture of education, music, cocktails, and costumes. (more…)
E27.CO: With the rising trend of coworking, remote work, and “workation” retreats, entrepreneurial Millennials from around the world are quickly adopting the location-independent entrepreneurship lifestyle because of the prospect of reduced living costs, exciting new environments, and access to a network of other motivated and interesting creatives and entrepreneurs. (more…)
FAST COMPANY: When the city of Alexandria, Minnesota, asked community members what they wanted in their new high school to be like, they replied, “like the Google campus.” So they hired John Pfluger of Cuningham Group Architecture to make that a reality. Something that might not be the same size, or even necessarily have the exact design considerations, but that represents the same sense of possibility—the feeling of being adaptable to the future, whatever might come of it. The result is a state-of-the-art facility for more than 1,400 students where the word “classroom” is verboten, and where an hour in algebra class might be indiscernible from kicking back in the quad. (more…)
WIRED: Five years ago, a group of Spanish architects dug a hole on a mountainside in Laxe, Spain. They filled it with hay, covered it in concrete, let it dry and blasted an opening to the mound. Then Paulina moved in. Paulina, a cow, spent the better part of a year eating her way through the hay, and by the time she was finished, all that was left was a hollowed-out bunker, marred with hoof scrapes and imprints of straw. This is the future of architecture. Or, at least, it’s one of the many provocative glimpses Marc Kushner, co-founder of design studio HWKN and the well-known architecture website Architizer, offers up in his new book The Future of Architecture In 100 Buildings. (more…)
E27.CO: With the rising trend of co-working, remote work, and “workation” retreats, entrepreneurial Millennials from around the world are quickly adopting the location-independent entrepreneurship lifestyle because of the prospect of reduced living costs, exciting new environments, and access to a network of other motivated and interesting creatives and entrepreneurs. (more…)
FAST COMPANY: Two of the world’s best-known e-commerce sites for luxury clothing and accessories—London-based online fashion retailer Net-a-Porter and Italian e-commerce clothing company Yoox Group SpA—are merging to create a new monolithic e-retailer with an expected annual revenue of more than $1.4 billion. (more…)
THE NEXT WEB: Amazon may be the go-to place to shop online for physical goods, but it’s not of much use when your sink is clogged and you need a plumber, or want to have your broken iPhone screen fixed. Fret no more, as the company now lets you order a professional to your home with the aptly named ‘Amazon Home Services’, accessible at Amazon.com/services. (more…)