The head of the House Financial Services Committee wants President-elect Biden to to rescind guidance by the OCC that national banks may hold stablecoin reserves as a service to bank customers.
Read more MicroStrategy’s share prices have increased over 170% since the company first announced its interest in bitcoin in July.
Read more Donations in dai, USDC, and ether were sent to Coin Center via Gitcoin.
Read more A CBDC is a central bank digital currency, a new type of money governments are experimenting with that often has blockchain at its core.
Read more Bitcoin briefly dropped below $19,000 on a low-volume day while the ether options market seems to be in decline for now.
Read more We learn more about Slack’s future, Revolut adds new payment features and DoorDash pushes its IPO range upward. This is your Daily Crunch for December 4, 2020.
The big story: Slack and Salesforce execs explain their big acquisition
After Salesforce announced this week that it’s acquiring Slack for $27.7 billion, Ron Miller spoke to Slack CEO Stewart Butterfield and Salesforce President and COO Bret Taylor to learn more about the deal.
Butterfield claimed that Slack will remain relatively independent within Salesforce, allowing the team to “do more of what we were already doing.” He also insisted that all the talk about competing with Microsoft Teams is “overblown.”
“The challenge for us was the narrative,” Butterfield said. “They’re just good [at] PR or something that I couldn’t figure out.”
Startups, funding and venture capital
Revolut lets businesses accept online payments — With this move, the company is competing directly with Stripe, Adyen, Braintree and Checkout.com.
Health tech venture firm OTV closes new $170M fund and expands into Asia — This year, the firm led rounds in telehealth platforms TytoCare and Lemonaid Health.
Zephr raises $8M to help news publishers grow subscription revenue — The startup’s customers already include publishers like McClatchy, News Corp Australia, Dennis Publishing and PEI Media.
Advice and analysis from Extra Crunch
DoorDash amps its IPO range ahead of blockbuster IPO — The food delivery unicorn now expects to debut at $90 to $95 per share, up from a previous range of $75 to $85.
Enter new markets and embrace a distributed workforce to grow during a pandemic — Is this the right time to expand overseas?
Three ways the pandemic is transforming tech spending — All companies are digital product companies now.
(Extra Crunch is our membership program, which aims to democratize information about startups. You can sign up here.)
Everything else
WH’s AI EO is BS — Devin Coldewey is not impressed by the White House’s new executive order on artificial intelligence.
China’s internet regulator takes aim at forced data collection — China is a step closer to cracking down on unscrupulous data collection by app developers.
Gift Guide: Games on every platform to get you through the long, COVID winter — It’s a great time to be a gamer.
The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 3pm Pacific, you can subscribe here.
Welcome to TechCrunch’s 2020 Holiday Gift Guide! Need help with gift ideas? We’re here to help! We’ll be rolling out gift guides from now through the end of December. You can find our other guides right here.
The pandemic has meant we leave our homes far less often, and that means fending for ourselves when it comes to coffee. But too many of us have old, cheap coffee makers or worse, pod-based ones at home. Here are the best ways to elevate your coffee game or delight the java lover in your life.
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Superior drip coffee makers
Every grocery store sells a cheap drip coffee maker that does the job adequately, but if anyone is going to use a device every day, it should be something they look forward to, not the bare minimum.
That said, a coffee maker shouldn’t be an IQ test — you have to operate it before you’ve had your coffee, after all. I personally find the ones with touchscreens and apps add nothing but new ways to get it wrong. So I tested a few coffee makers that balance quality with simplicity, and after a few weeks of jitters here are my favorites.
For the industrial design appreciator: OXO 8-cup coffee maker
Pros:
- Compact, well-thought-out design
- Lots of actually useful features
- Thermal carafe included
Cons:
- Single-cup brewing is a bit over-complicated
- Could be more coffee-efficient
OXO’s reputation as a kitchen goods designer is well deserved, but I often find their items a bit much for the job. Not so with the 8-cup coffee maker, which manages to balance thoughtful design with simplicity and quality. I can say with confidence: if you aren’t sure which coffee maker to get… get this one.
The OXO 8-cup is the (obviously) smaller alternative to the 9-cup, losing the ability to schedule brewing but gaining simpler operation and a single-cup option using a separate, Kalita-compatible basket. The lids of the reservoir and basket area flip up (the latter allowing condensed water to flow safely into the filter) and the basket itself sits securely but pops out easily.
The coffee is uniformly good; I would say as good but slightly less strong than the KBGV below. It flows directly into a thermal carafe with a dedicated hole in the top, simplifying even that part. Pretty much everything about this machine is made to simplify and foolproof itself, making the brewing process extremely reliable.
I honestly struggled to find any complaints, but I would say that the necessity of keeping a second basket that uses a different filter type, then adjusting the various bits so that you can slip the mug in, etc., is arguably more trouble than it’s worth. But the capability for single-cup brewing is there and doesn’t take away from the rest at all.
It also recommends somewhat more grounds per cup than the KBGV, not a crazy amount but enough that you’ll probably get one less pot out of a standard 16 oz bag of coffee.
Price: $170 from OXO
For the FBI stakeout: Technivorm Moccamaster KBGV
Pros:
- Streamlined retro-institutional look
- Strong, reliable brew
- Automatic hot plate
Cons
- Lots of removable parts
- Materials unremarkable for the price
The KBGV brewed my favorite coffee and in my opinion has the best look, like what you’d expect in the background of an FBI stakeout field HQ in a 70s movie. Where the OXO is rounded-off and unassuming, designed to disappear in a modern kitchen, the KBGV is bold and shiny.
The coffee it makes is bold, too: reliably strong and flavorful. Its #4 filter process to me was also pretty efficient with grounds.
The squat glass carafe sits on a hot plate that remains on for an hour or so after brewing, which is great but also means you must remember to turn it off — it won’t start a fire or anything, it’s just going to sit there being hot.
My main issue with the KBGV is that the reservoir and basket covers just sit on top rather than being on hinges, making the process of brewing involve removing and replacing several pieces. A small complaint, but they, like the carafe lid and basket, are also made of a rather ordinary plastic rather than something more durable. I feel like given the premium price you should be given something a bit more classy and convenient.
The good news is they’ll be easy to replace if they break, and Technivorm has an excellent warranty.
Price: $330 from Technivorm
For the ‘gram: Ratio 8
Pros:
- Extremely handsome
- Excellent materials
- Very simple operation
Cons:
- Nothing to keep coffee warm
- Quite large!
- Very expensive
Objectively the most good-looking of the machines here (even if I prefer the quirky charm of the KBGV), the Ratio 8, with its wood and textured metal finish, is obviously meant to be a display piece. And you couldn’t hide it if you wanted to — this thing is big, and the thick power cord juts straight out of the back, making it difficult to put anywhere but somewhere central.
The machine is basically an automatic Chemex brewer (Chemex makes one of their own that I tried to test but never heard back on), which kind of tells you everything you need to know. Chemex, with its wood-collared, single-piece carafes and luxuriously thick filters, is almost like the BMW of drip coffee, with all that implies. I like it, but I also acknowledge that it’s a bit over the top. And a machine that does it for you — well!
But as a Chemex brewer goes, it’s a lovely thing. You get that special extra clarity that the Chemex process brings, and there’s something wonderful about the way the coffee comes out of those carafes. Operating the machine is a single-button affair, which activates a short bloom period then showers the grounds over time with however much water you put in the reservoir.
I found that the Ratio 8 was best when making a full carafe, as with a half-portion I felt it over-watered and consequently under-extracted what I put in there. Unfortunately that full carafe will have to be consumed with a quickness, as the Ratio 8, despite its size and price, has nothing to keep the coffee warm once it’s been brewed.
For a showy and unique machine the Ratio 8 is great. But if all you want to do is make great drip, the OXO or KBGV is a much better use of your funds.
Price: $495 from Ratio
More exotic methods
There are lots of ways to make coffee, and while drip is the easiest and most reliable for most people, the following slightly more unusual options are also viable and perhaps more interesting as gifts.
FrankOne
Want to get the first coffee maker to come out of Colombia — you know, coffee central? The FrankOne is a cool device that quickly makes a pourover-like cup by steeping the grounds then creating a vacuum in the chamber below it, sucking the liquid out but leaving the grounds up top. It works great, operates on a rechargeable battery and is easy to clean (especially if you have a garbage disposal).
Price: $80 from FrankDePaula
ROK manual espresso maker
Image Credits: ROK
I avoided the many fancy espresso machines out there for this review mainly for the reason that they are complex, expensive and require considerable upkeep. The ROK is about as simple an espresso maker as you can get, bested only by a stovetop Moka pot.
To work the ROK, you pack your grounds into the included espresso filter and attach it to the machine like any other. Then you pour your hot water into the reservoir up top, raise the arms, and depress them with a slow, steady pressure that forces it through the filter. It really is that simple.
It may not be quite the high-pressure espresso you get from a “real” machine, but it’s quite good, and the process can be repeated to increase the volume and produce something like an americano. The coffee produced by the ROK is a bit like a Moka Pot’s, but a bit less strong and far less likely to be burnt.
The machine itself is bulletproof — and I mean I think it’s actually bulletproof. It’s practically solid metal, though the reservoir and bellows are rubber. Use this to make coffee while camping and then fend off a bear attack.
For a unique, electricity-free coffee experience the ROK is a great option, though not necessarily a practical one.
Price: $189 from ROK
Osma
Image Credits: Osma
I haven’t gotten to test this one yet (though I will), but designer Joey Roth hasn’t done me wrong yet. This new device from his workshop uses a completely new method of circulating hot water through grounds, making a drip-like cup in a very short time, or cold brew, or tea. If your loved one is a gadget fiend, this is one they probably haven’t had the chance to covet yet. Technically it uses pods, but they’re totally biodegradable and you can fill them with your own grounds or leaves.
Price: $185 from Osma
Pourover cones
I’ve used pourover as my main method of making coffee for years, and it reliably produces the best single cup you can have, though at the cost of being somewhat time-consuming.
Kalita Wave 185
Kalita makes a couple sizes of these pourover cones, and although I have happily used my 155 for many years, if I could do it over again I’d opt for the slightly larger 185, which is more forgiving when you’re pouring and can brew more than the 16 ounces that is the realistic upper limit of mine.
Price: $36 from Amazon
OXO’s pourover cone with tank
If hovering by the stove and watering your grounds for the two to three minutes it takes to make a cup is not something you enjoy, OXO has a nice little gadget that simplifies things. It’s basically a pourover cone with a reservoir that sits on top, dripping water through a few tiny holes at a steady rate.
It made a good cup and with minimal fuss, but the capacity is limited, so if you want more than 12 ounces you’ll have to refill the reservoir.
Price: $16 from Amazon
Kone and other metal filters
These permanent filters have gotten quite good, and I have one that sits right on top of a cup. No more paper! However I would recommend these only to people who have a garbage disposal or sink that can handle a lot of grounds, because cleaning the filter involves losing a lot of grit down the drain. Occasional deep cleaning is required but it’s nice to reduce waste even a little bit.
Price: Around $30-40, depending on brand.
Coffee subscriptions
Just as a general note: These types of subscriptions are great, but you need to do a little bit of research or your loved one will end up with a roast they don’t like. I don’t want to recommend any in particular, since they all specialize in different things, but aim to prop up independent roasteries and fair trade rather than just getting a steady supply of the same old thing from a major chain.
Some good options:
- Trade Coffee – reliably recommended
- Mistobox – wider selection
- Red Bay Coffee – black-owned business
- Angel’s Cup – blind tasting (no labels)
With the amount of time you’re spending at home these days, you deserve a better headset. A wireless one that works with your computer and maybe your console as well, with a mic for calls and great sound for games and movies. Fortunately there are a lot to choose from, and I’ve tested out your best options.
I asked the leading audio and peripheral companies to send over their flagship wireless headset, with prices ranging from about $100 to $250. Beyond this price range returns diminish swiftly, but right now that’s the sweet spot for comfort, sound and usability.
For years I’ve avoided wireless headsets because there were too many compromises, but I’m pleased to say that the latency has been eliminated and battery life in the ones I reviewed is uniformly excellent. (NB: If the wireless version feels too expensive, you can often get wired ones for $50-100 less.)
To test the headphones, I used them all for a variety of everyday tasks, from video calls to movies and music (with only minimal EQing to get a sense of their natural sound) to AAA games and indies. None require an app to work, though some have companion software for LEDs or game profiles. I have a fairly large head and medium-sized ears, for what it’s worth. All the headphones are rather bulky, though the angle I shot them at individually makes them look huge — you can see in the image up top that they’re all roughly the same size.
None of these headphones have active noise cancelling, but many offer decent physical isolation to the point where they offer a “monitor” feature that pipes in sound from the outside world — useful if you’re playing a game but waiting for the oven to preheat or something. Only the first set has a built-in mic, the rest have detachable ones of generally solid quality, certainly good enough for streaming and chatting, though for broadcast a separate one would be better. All these headphones use a USB-A style dongle, though the 7P/7X also has a USB-C connector.
SteelSeries 7P/7X – $149
Image Credits: Devin Coldewey / TechCrunch
The 7P and 7X headsets, designed with the PS5 and Xbox Series X in mind (as well as PC) respectively, are my first and most unreserved recommendation.
The standout feature on these is, to me, a truly surprising sound with an almost disturbingly broad stage and clarity. I almost couldn’t believe what I was hearing when I put on some familiar tracks I use for reference. This isn’t a 7.1 simulation or anything like that — but no doubt the gaming focus led to creating a large soundstage. It worked!
I also found the headphones to be very comfortable, with a “ski goggle” strap instead of a per-band adjustment that lets them sit very lightly as well as “remembering” your setting. The spacious earcups rotate for travel or comfort.
The built-in mic is unobtrusive and stows away nicely, but if you’re picky about placement it was a bit floppy to adjust. Many of the other headsets have nicer mics that completely detach — maybe that’s a plus for you, but I tend to lose them.
My main issues with these are that the controls feel cheap and not particularly well laid out. The bottom of the headset is a jumble of ports and buttons and the volume dials don’t have much travel — it’s 0 to 100 in one full swipe. (Volume control is independent from system volume.)
The dongle is different from the others in that it is itself USB-C, but with a USB-A cable attached. That’s good for compatibility, but the cable is three feet long, making it kind of silly to attach to some laptops and whatnot. You could easily get your own short cord, though.
At $150 I think these are an easy recommendation for just about anyone looking at that price range.
Audio-Technica AT-GWL – $250
Image Credits: Devin Coldewey / TechCrunch
The high price on these is partly because they are the wireless version of a headset that also comes wired, so if you want the solid audio performance and comfy fit, you can save some money by going wired.
The sound of the AT-GWLs is rich and naturally has a focus on the upper-mid vocal range, which makes voices in media really pop. I did find the sound a bit confined, which hitting the “surround” setting actually helped with. I know that this sort of virtualization has generally been frowned on, but it’s been a while since these settings have been over the top and distortive. I found surround better for games but not necessarily for music, but it’s very easy to switch on and off.
The headphones are light and adjusted with traditional, no-nonsense metal bands, with a single pad on the top. I would say they are the lightest-feeling pair I tested, with the SteelSeries and Razer coming in just behind owing to some extra weight and bulk. Despite being compact, the AT-GWLs felt airy but not big. The leather-microfiber combo cups are nice, and I think they’ll break in well to provide better isolation over time.
Where they fall short is in the interface. First, a note to Audio-Technica: Turn down the notification noises! Turning the headset on, the mic on or off or hitting the system-independent volume max produces loud, surprising beeps. Too loud!
Second, the buttons and dials are stiff, small and same-feeling. Lifting a hand quickly to turn down the volume (maybe after a huge beep) you may very easily mistake the power switch for the volume dial. The dial also doubles as a button for surround mode, and next to it is a microscopic button to turn on and off the sound of surroundings. It’s a bit of a jumble — nothing you can’t get used to, but considering how nice other headsets on this list made their controls, it has to be said.
HyperX Cloud II wireless – $100
Image Credits: Devin Coldewey / TechCrunch
HyperX (owned by Kingston) wasn’t exactly known for audio until fairly recently, but its previous Cloud headset got the crucial Wirecutter endorsement, and it’s easy to see why. For less money than any of the other headsets in this roundup, the follow-up to that headset (which I’m wearing right now) has excellent sound and isolation.
I was surprised to find a soundstage nearly as wide as the 7P/7X, but with more of a focus on the punchy lower register instead of on detail and placement. My music felt big and close, and the atmosphere of games likewise, more immediately present.
The Cloud II’s controls are simple and effective. The volume dial, tied directly to the system volume, is superb: grippy, with smooth motion and just the right amount of friction, and just-barely-there clicks. There are two good-size buttons, the power one concave and the mic mute (which gives different sounds for muted and active) convex.
It’s unfortunate that they’re not as comfortable, for me anyway, as the others on this list. The cups (though a bit on the warm side) and band are perfectly fine. It’s that there’s little rotation to those cups, meaning there’s no play to accommodate the shape of your head. I don’t know, maybe it’s just my big dome, but they were noticeably tighter at the front of my ear than the back, so I was constantly adjusting or trying to twist them.
I’ll say this: If they add a bit more adjustment to the cups, these would be my default recommendation over the 7P/7X. As exciting as the SteelSeries sound is to me, the Cloud IIs seem more like what people expect, and are $50 cheaper.
Logitech G-733 – $130
The matte texture of the G733s had a weird interaction with my camera — they don’t look speckly IRL. Image Credits: Devin Coldewey / TechCrunch
These are Logitech’s streamer-friendly, color-coordinated, LED-sporting set, but they’re better than the loud design would suggest.
The sound is definitely gaming-forward, with a definite emphasis on the low end and a very central, present sound that was a lot like the Cloud II.
To be honest, I was not expecting the G733s to be very comfortable — their stiff plastic look suggested they’d creak, weigh down my ears and crush my noggin. But in fact they’re really light and quite comfy! There’s a lot of play in the positions of the earcups. The fit is a little odd in that there’s a plainly inferior version of the 7P/7X’s “ski goggle” strap that really only has four settings, while the cups slide up and down about two thirds of an inch. It was just enough to accommodate my (again, apparently very large) head.
The mic boom is rather short, and sadly there is no indicator for when the mic is on or off, which is sometimes a minor inconvenience and sometimes a major pain. You can tell from the sound the mute button makes, though.
The volume dial is nice and smooth, though the “clicks” are really far apart. I like the texture of it and the mic mute button, the power button not so much. But it works.
The colors may not be to everyone’s liking, but I have to hand it to Logitech for going all the way. The headset, mic and even the USB dongle are all the same shade, making it much easier to keep track of them in my growing pile of headphones and widgets.
Logitech Pro-X – $200
Image Credits: Devin Coldewey / TechCrunch
Currently Logitech’s most premium set of gaming headphones, the Pro-X abandon the bright, plasticky look of its other sets and goes for understated and black.
The sound of the Logitech is big and very clear, with almost a reference feel in how balanced the bands are. I felt more presence in the mid-lows of smart bass-playing than the other sets. There is a “surround” feel that makes it feel more like you’re in a room of well-configured speakers than headphones, something that I think emerges from a de-emphasis of the center channel. The media is “out there,” not “in here.” It’s not a bad or a good thing, just distinct from the others.
The controls are about on par with the Cloud II’s: a nice frictiony volume wheel controlling system volume, a nice mic toggle button and a fairly meaty on-off switch you’re unlikely to trip on purpose.
Also like the Cloud IIs, there is no rotation to the earcups, making them less comfortable to me than the ATs and SteelSeries, and Logitech’s cheaper G-733s. A larger head than my own, if that’s possible, would definitely feel clamped. I do think these would wear in well, but all the same a bit of play would help a lot.
The external material, a satinized matte plastic, looks truly lovely but is an absolute fingerprint magnet. Considering you’ll be handling these a lot (and let’s be honest, not necessarily with freshly washed hands), you’re going to need to wipe them down rather more than any of the others I tested.
Razer Blackshark V2 Pro – $180
Image Credits: Devin Coldewey / TechCrunch
The understated Razer Blackshark V2 Pro soon became my go-to for PC gaming when the SteelSeries set was attached to the PS5.
Their sound is definitely gaming-focused, with extra oomph in the lows and mid-lows, but music didn’t sound overly shifted in that direction. The soundstage is full but not startlingly so, and everything sounded detailed without being harsh.
The Razers look heavy but aren’t — it varies day to day but I think they’re definitely competing for “most comfortable” with the A-Ts and SteelSeries. The cups feel spacious and have a nice seal, making for a very isolated listening experience. Adjustment is done with the wires attached to the cups, which is nothing special — I kind of wish this setup would let you adjust the cant as well as the height. The material is like the Logitechs — prone to fingerprints, though a little less so, in my experience.
Their controls are very well designed and laid out, all on one side. The protruding (system-independent) volume knob may seem odd at first but you’ll love it soon. The one big notch or click indicates exactly 50%, which is super useful for quick “calibration,” and turning the knob is smooth yet resistant enough that I never once accidentally changed it. Meanwhile there are conveniently placed and distinguishable buttons for mute and power, and ports for the detachable mic, charge cord and 3.5mm input.
I’m hard pressed to think of any downsides to the Blackshark except that it doesn’t work with consoles.
Ever since the pandemic hit the U.S. in full force last March, the B2B tech community keeps asking the same questions: Are businesses spending more on technology? What’s the money getting spent on? Is the sales cycle faster? What trends will likely carry into 2021?
Recently we decided to join forces to answer these questions. We analyzed data from the just-released Q4 2020 Outlook of the Coupa Business Spend Index (BSI), a leading indicator of economic growth, in light of hundreds of conversations we have had with business-tech buyers this year.
A former Battery Ventures portfolio company, Coupa* is a business spend-management company that has cumulatively processed more than $2 trillion in business spending. This perspective gives Coupa unique, real-time insights into tech spending trends across multiple industries.
Tech spending is continuing despite the economic recession — which helps explain why many startups are raising large rounds and even tapping public markets for capital.
Broadly speaking, tech spending is continuing despite the economic recession — which helps explain why many tech startups are raising large financing rounds and even tapping the public markets for capital. Here are our three specific takeaways on current tech spending:
Spending is shifting away from remote collaboration to SaaS and cloud computing
Tech spending ranks among the hottest boardroom topics today. Decisions that used to be confined to the CIO’s organization are now operationally and strategically critical to the CEO. Multiple reasons drive this shift, but the pandemic has forced businesses to operate and engage with customers differently, almost overnight. Boards recognize that companies must change their business models and operations if they don’t want to become obsolete. The question on everyone’s mind is no longer “what are our technology investments?” but rather, “how fast can they happen?”
Spending on WFH/remote collaboration tools has largely run its course in the first wave of adaptation forced by the pandemic. Now we’re seeing a second wave of tech spending, in which enterprises adopt technology to make operations easier and simply keep their doors open.
SaaS solutions are replacing unsustainable manual processes. Consider Rhode Island’s decision to shift from in-person citizen surveying to using SurveyMonkey. Many companies are shifting their vendor payments to digital payments, ditching paper checks entirely. Utility provider PG&E is accelerating its digital transformation roadmap from five years to two years.
The second wave of adaptation has also pushed many companies to embrace the cloud, as this chart makes clear:
Image Credits: Battery Ventures (opens in a new window)
Similarly, the difficulty of maintaining a traditional data center during a pandemic has pushed many companies to finally shift to cloud infrastructure under COVID. As they migrate that workload to the cloud, the pie is still expanding. Goldman Sachs and Battery Ventures data suggest $600 billion worth of disruption potential will bleed into 2021 and beyond.
In addition to SaaS and cloud adoption, companies across sectors are spending on technologies to reduce their reliance on humans. For instance, Tyson Foods is investing in and accelerating the adoption of automated technology to process poultry, pork and beef.
All companies are digital product companies now
Mention “digital product company” in the past, and we’d all think of Netflix. But now every company has to reimagine itself as offering digital products in a meaningful way.
Zephr has raised $8 million in a new funding round led by Bertelsmann Digital Media Investments (owned by media giant Bertelsmann).
The London-headquarted startup’s customers already include publishers like McClatchy, News Corp Australia, Dennis Publishing and PEI Media. CEO James Henderson told me via email that rather than creating “a monolithic product that tries to do a bit of everything,” Zephr is “focused entirely on the experience and journey for the prospect or customer,” driving an average 150% increase in conversion rates and 25% increase in subscription revenue within the first six months.
Henderson added, “By offering the right product, package or message at the right time to the right person, Zephr improves conversion rates, drastically decreases churn and drives new, stable revenue.”
To do this, Zephr largely relies on the publisher’s first-party data about its readers — Henderson said that this data is “by far the most important and powerful type of data that Zephr both uses and generates.” But it also takes advantage of contextual data, such as “time of day, to location, device or consumption patterns.”
He also noted that Zephr is a no-code tool, allowing non-technical members of the marketing, revenue and product teams to use a drag-and-drop editor to create different customer journeys.
Image Credits: Zephr
Asked how the pandemic has affected the startup’s business, Henderson said there were both “positive and negative indicators,” with newsrooms seeing record readership but in some cases also freezing spending.
“As firms prepare for a ‘post-pandemic’ world, we are beginning to see our markets seize the opportunity of all these new potential subscribers and invest in subscription models — and in Zephr.” he said. “In publishing and news media, the old model of dominant advertising revenue is on the way out and we are well-placed to capitalize on that interest.”
The new funding also includes financing from Silicon Valley Bank UK Branch and brings Zephr’s total funding to $11 million. Previous investors include Knight Capital and Nauta Capital.
According to the company’s funding announcement, this money will go toward further product development (with a focus on increased personalization), as well as expansion across the United States, Europe and Asia.
“The recent weakness in the advertising market increased pressure for media companies to diversify revenue streams and aim to introduce or optimize subscription models,” said BDMI Managing Director Urs Cete in a statement. “We recognise Zephr’s excellent technology that empowers publishers to galvanise the online subscription opportunity and create customer journeys that are truly unique.”