Kindred Capital, the London-based VC that backs early-stage founders in Europe, has closed its second seed fund at £81 million.
That’s only a tad larger than the the firm’s first fund, which invested in 29 companies and was raised in 2018. Portfolio companies from fund one include Five, which is building software for autonomous vehicles; Paddle, the SaaS for software e-commerce; Pollen, the peer-to-peer marketplace for experiences and travel; and Farewill, which lets you create a will online.
However, perhaps what really sets Kindred apart from most other seed VCs is its “Equitable Venture”. This sees the founders it backs get carry in the fund, effectively becoming co-owners of Kindred. Once the VC’s LPs have their investment returned, like the firm’s partners, the founders also share any subsequent fund profits, as long as they have passed the vesting period.
More broadly, Kindred says the idea is this extra
There is no shortage of speculation and reports around TikTok’s future in the U.S. Amid a swirl of rumors, TikTok’s Chinese parent ByteDance issued a statement (in Chinese) on Monday morning, bringing clarity to its ongoing deal that has captured global attention over the past few weeks.
ByteDance is still the owner
China’s ByteDance confirms it will retain an 80% stake in TikTok after selling a total of 20% to Oracle, its “trusted technology partner,” and Walmart, its “commercial partner.”
But the arrangement doesn’t address the core of many observers’ worries, as my colleague Jonathan Shieber argued: “The deal benefits everyone except U.S. consumers and people who have actual security concerns about TikTok’s algorithms and the ways they can be used to influence opinion in the U.S.”
Sitting on TikTok’s board are ByteDance’s current members, all non-Chinese except ByteDance founder Zhang Yiming. Walmart CEO Doug McMillon is the
A Senate bill that would compel tech companies to build backdoors to allow law enforcement access to encrypted devices and data would be “very dangerous” for Americans, said a leading House Democrat.
Law enforcement frequently spars with tech companies over their use of strong encryption, which protects user data from hackers and theft, but the government says makes it harder to catch criminals accused of serious crime. Tech companies like Apple and Google have in recent years doubled down on their security efforts by securing data with encryption that even they cannot unlock.
Senate Republicans in June introduced their latest “lawful access” bill, renewing previous efforts to force tech companies to allow law enforcement access to a user’s data when presented with a court order.
“It’s dangerous for Americans, because it will be hacked, it will be utilized, and there’s no way to make it secure,” Rep. Zoe
Last week, as Epic Games, Facebook, and Microsoft continued to express concerns about Apple’s “monopolistic” hold over what a billion people can download on their iPhones, a similar story unfolded in India, the world’s second largest internet market, between a giant developer and the operator of the only other large mobile app store.
Google pulled Paytm, the app from India’s most valuable startup, off of the Play Store on Friday. The app returned to the store eight hours later, but the controversy and acrimony Google has stirred up in the country will linger for years.
TechCrunch reported on Friday that Google pulled Paytm app from its app store after a repeat pattern of violations of Google Play Store guidelines by the Indian firm.
Paytm, which is locked in a battle against Google to win India’s payments market, has been frustrated at Google’s policies — which it argues gives Google
“Wireless” is probably the best showcase so far for Quibi’s Turnstyle technology.
That’s the technology that allows the streaming video app to switch seamlessly between landscape and portrait mode depending on the orientation of your phone. With other Quibi shows, you’re essentially getting two views of the same footage — but with “Wireless” (which is executive produced by Steven Soderbergh), you’re switching between traditional cinematic footage (in landscape) and a view of the protagonist’s phone (in portrait).
In this bonus episode of the Original Content podcast, director Zach Wechter told me that he and his co-writer Jack Seidman wrote the initial script — about a college student played by Tye Sheridan who gets trapped in the snow after a car crash, with only his iPhone to save him — before they decided on the phone-centric format. But when they heard about Turnstyle, “It just felt like a match