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GoTenna is ramping up public sector mesh networking with a $24M C round

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GoTenna is best known for its outdoors-oriented consumer products that let you text and share locations between smartphones off the grid. But the company has found that government work — military, fire, rescue — is the real market, and is pursuing it with a vengeance on the strength of a $24 million funding round.

“We’ve been busy!” said Daniela Perdomo, founder and CEO of the company, in an interview. “We have a good problem, which is a technology that can be so foundationally enabling for so many use cases.”

GoTenna’s core tech is mesh networking over radio frequencies normally used for walkie-talkies: long range but low bandwidth. Yet if all you need to send are GPS coordinates or a short message, it’s perfectly sufficient and works great where mobile and satellites connections are impractical. Just on the device, smaller than a deck of cards, and you can chat over miles in the middle of nowhere with your climbing partners or back country ski pals.

In the last couple years the company has shifted its priorities from consumer tech — the GoTenna and Mesh series of gadgets — to filling the needs of public sector clients that have been asking for something like this for years.

Firefighters, military operations, local law enforcement, search and rescue — many were using bulky, over-engineered, expensive solutions that haven’t changed much in decades. GoTenna works with nearly any smartphone and instantly creates a mesh network that can span miles, making it perfect for off-grid communications.

Perdomo said this was actually more or less the plan from the beginning.

“It was in my first ever pitch deck when we raised our seed in 2013, there was this blue-sky vision of how the technology would be used,” she told me. “But it was simpler to launch an MVP to consumers. We always felt that product was going to bring in the public sector. And that’s exactly what happened — when we launched our first generation product, I think within 24 hours we had a variety of different public sector customers reach out to us.”

“We now have some federal agencies that have been customers through every generation of the product. We sill have our consumer product, and people love it, but it’s a small part of our business compared to the public sector,” she said.

An example of how the interface might look in use. It can relay the locations of other GoTenna devices at intervals, helping teams keep in touch automatically.

While disaster response crews could of course just buy a couple dozen of the regular GoTenna products, they were quick to ask for “pro” versions with features prized by advanced users and military customers.

Longer range, more programmable wireless parameters, compatibility with various legacy systems — the Pro and new ProX versions of the GoTenna system hit a lot of sweet spots. As Perdomo told me when the Pro first came out, legacy systems are powerful in some ways but can also be horribly expensive, incompatible with foreign wireless systems, or even have legal restrictions on where they can be used.

For a cash-strapped NGO that goes around doing global aid, a $100-$500 gadget that turns an ordinary phone into a versatile mesh node is potentially game-changing. (You can also use them to temporarily replace destroyed communications infrastructure.)

But deep-pocketed federal agencies and military branches are also shelling out for the devices, and increasingly for the software support contracts that go with them. GoTenna’s Aspen Grove is a proprietary mesh network protocol that they’ve engineered to be faster and more robust than anything else out there. I’d exert a little skepticism here normally, but from what I’ve seen the systems GoTenna is replacing or augmenting aren’t exactly competitive.

In fact GoTenna’s next major hardware project is to create a mesh networking board that can be integrated right into existing hardware, simplifying the systems and baking its protocols in even deeper.

“We have a long list of companies that want to integrate our tech into vehicles, aircraft, anything you can think of,” Perdomo said. “So you can put one of these babies on a UAV and let ‘er rip! Our record range, point to point from a UAV, is 69 miles.”

Meanwhile the company is also releasing a broader open source mesh platform called Lot 49 that’s meant to be capable of supporting a global messaging infrastructure without relying on any wireless providers. That could be a big deal for internet of things type devices as well.

Interestingly, Perdomo doesn’t feel threatened by the new and rather scary kid on the block: communications satellite constellations like Starlink and OneWeb. If the idea is that GoTenna lets you communicate where the grid doesn’t reach, what happens when the grid is global?

“No matter how many satellites you put up, repeaters you put up, cables you lay down, you always have that last mile. You need resiliency, access, and I believe neutrality as well,” she said. And indeed you’re not going to take a Starlink ground station with you on a covert operation or into an active wildfire. And having an existing, ongoing business agreement with a satellite communications provider may not even be desirable in the first place.

“There’s a reason why certain incumbents in the tactical radio space as well as carriers are partnering with us,” Perdomo pointed out — and indeed Comcast Ventures is a new face among the investors. “We’re creating a new layer in the communications stack, mesh networks with a focus on bursty data. I think of us as perfectly complementary to every other communications company.”

As for that funding, it will go towards easing the rapid growth the company is experiencing, finishing the pro and embedded options, hiring up, and expanding operations to support their growing services business. The $24M round was led by Founders Fund, with participation from Comcast Ventures and existing investors Union Square Ventures, Collaborative Fund, Walden VC, MentorTech, and Bloomberg Beta.

“We’ve been in R&D for a really long time,” Perdomo said. “It’s exciting now to also be becoming a business. All of the most impressive mainstream telecommunications technologies we use today, things like the internet or GPS, they hit it out of the park with the public sector first. If you can win there, in life or death situations, you know you can win everywhere else as well.”

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Today, Facebook is coming together with 27 organizations around the world to start the non-profit Libra Association and…

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Posted by Mark Zuckerberg on Tuesday, June 18, 2019

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A Global Coin

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Facebook got one thing right for sure: today’s money doesn’t work for everyone. Those of us living comfortably in developed nations likely don’t see the hardships that befall migrant workers or the unbanked abroad. Preyed on by greedy payday lenders and high-fee remittance services, targeted by muggers, and left out of traditional financial services, the poor get poorer. Libra has the potential to get more money from working parents back to their families and help people retain credit even if they’re robbed of their physical possessions. That would do more to accomplish Facebook’s mission of making the world feel smaller than all the News Feed Likes combined.

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If Facebook succeeds and legions of people cash in money for Libra, it and the other founding members of the Libra Association could earn big dividends on the interest. And if suddenly it becomes super quick to buy things through Facebook using Libra, businesses will boost their ad spend there. But if Libra gets hacked or proves unreliable, it could cost lots of people around the world money while souring them on cryptocurrencies. And by offering an open Libra platform, shady developers could build apps that snatch not just people’s personal info like Cambridge Analytica, but their hard-earned digital cash.

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Facebook just tried to reinvent money. Next year, we’ll see if the Libra Association can pull it off. It took me 4000 words to explain Libra, but at least now you can make up your own mind about whether to be scared of Facebook crypto.

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Facebook has finally revealed the details of its cryptocurrency Libra, which will let you buy things or send money to people with nearly zero fees. 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Josh Constine is a technology journalist who specializes in deep analysis of social products. He is currently an Editor-At-Large for TechCrunch and is available for speaking engagements.

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Previously, Constine was the Lead Writer of Inside Facebook through its acquisition by WebMediaBrands, covering everything about the social network.

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Constine graduated from Stanford University in 2009 with a Master's degree in Cybersociology, examining the influence of technology on social interaction. He researched the impact of privacy controls on the socialization of children, meme popularity cycles, and what influences the click through rate of links posted to Twitter.

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Constine also received a Bachelor of Arts degree with honors from Stanford University in 2007, with a concentration in Social Psychology & Interpersonal Processes.

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Josh Constine is an experienced public speaker, and has moderated over 120 on-stage interviews in 15 countries with leaders including Facebook CEO Mark Zuckerberg, whistleblower Edward Snowden (via on-stage video conference), and U.S. Senator Cory Booker. He is available to moderate panels and fireside chats, deliver keynotes, and judge hackathon and pitch competitions.

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Constine has been quoted by The Wall Street Journal, CNN Money, The Atlantic, BBC World Magazine, Slate, and more, plus has been featured on television on Good Morning, America, The Today Show, China Central Television, and Fox News. Constine is ranked as the #1 most cited tech journalist on prestigious news aggregator Techmeme.

nn [Disclosures: Josh Constine temporarily advised a college friend's social location-sharing startup codenamed 'Signal' that was based in San Francisco before dissolving in 2015. This advising role was cleared with AOL and TechCrunch's editors and has concluded. Constine's fiancu00e9e Andee Gardiner co-founded startup accelerator Founders Embassy. Constine's cousin Darren Lachtman is the founder of influencer advertising startup Niche that was acquired by Twitter, and he's since left and founded teen content studio Brat. Constine does not write about Founders Embassy or Brat. Constine has personal acquaintances stemming from college housing circa 2007 with founders at Skybox Imaging (now Terra Bella), Hustle, Snapchat, and Robinhood, but does not maintain close social ties with them nor does that influence his writing. Constine occasionally does paid speaking engagements at conferences, but only those funded by companies he does not cover. Constine owns a small position in Ethereum and Bitcoin cryptocurrencies, does not day-trade, and discloses his positions directly in articles where appropriate. Constine does not do consulting, angel investing, or public stock trading beyond public stock invesments by his parents' estate that he has no role in managing or advising.] ","cbAvatar":"https://crunchbase-production-res.cloudinary.com/image/upload/v1415412437/xje35licfau9iewxnf44.png","twitter":"joshconstine","_links":{"self":[{"href":"https://techcrunch.com/wp-json/tc/v1/users/1603003"}],"collection":[{"href":"https://techcrunch.com/wp-json/tc/v1/users"}]}}],"replies":[[{"id":666067,"parent":0,"author":0,"author_name":"c r","author_url":"","date":"2019-06-18T03:10:07","content":{"rendered":"

So, why do I care if the vendor has to pay transaction fees to Visa? That doesnu2019t seem like reason enough for me to adopt a new currency.

n"},"link":"https://techcrunch.com/2019/06/18/facebook-libra/#comment-666067","type":"comment","author_avatar_urls":{"24":"https://secure.gravatar.com/avatar/063f6ba64d41d4bb4887b432d09d4da0?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/063f6ba64d41d4bb4887b432d09d4da0?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/063f6ba64d41d4bb4887b432d09d4da0?s=96&d=identicon&r=g"},"techcrunch":{"avatar":"https://ct.yimg.com/cy/1768/39361574426_98028a_64sq.jpg","company":"(no company found)","title":"(no title found)","user":"GBWCMWNZ2AORDOFG24Z57R2GFY"},"_links":{"self":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments/666067"}],"collection":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments"}],"up":[{"embeddable":true,"post_type":"post","href":"https://techcrunch.com/wp-json/wp/v2/posts/1845350"}],"children":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments?parent=666067"}]}},{"id":666072,"parent":0,"author":0,"author_name":"Erik de Vries","author_url":"","date":"2019-06-18T03:44:18","content":{"rendered":"

This may replace cash or debit transactions for many people. It will be a hard sell to credit card customers in the US though. Credit cards have 4 benefits over Libra.
n1) Ability to spend now and pay later. Even without interest when paying within a month.
n2) Ability to earn cash back or rewards. The merchants are paying for fees and rewards, but in the US they rarely charge the customer for those fees.
n3) Transactions are not final as they are with cash, debit, and Libra. Customer can challenge fraudulent charges and get transactions reversed.
n4) Credit cards are accepted almost everywhere in the US.

n

That said, this looks to be the best attempt to create a stable crypto currency so far. This may gain a lot of traction in countries where people donu2019t have access to stable currencies and for people that donu2019t have access to credit.

n"},"link":"https://techcrunch.com/2019/06/18/facebook-libra/#comment-666072","type":"comment","author_avatar_urls":{"24":"https://secure.gravatar.com/avatar/e83df7fd7ab6f712087b6d91d09a81fd?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/e83df7fd7ab6f712087b6d91d09a81fd?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/e83df7fd7ab6f712087b6d91d09a81fd?s=96&d=identicon&r=g"},"techcrunch":{"avatar":"https://ct.yimg.com/cy/1768/39361574426_98028a_64sq.jpg","company":"(no company found)","title":"(no title found)","user":"S3BOOWUGAEVKG3MQPVHAB5IKJA"},"_links":{"self":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments/666072"}],"collection":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments"}],"up":[{"embeddable":true,"post_type":"post","href":"https://techcrunch.com/wp-json/wp/v2/posts/1845350"}]}},{"id":666074,"parent":0,"author":0,"author_name":"S N","author_url":"","date":"2019-06-18T04:03:48","content":{"rendered":"

I am sceptical. If KYC is a requirement, what’s to prevent them from censoring people they don’t like? For example, if you own a history channel on YouTube or something like that, and they decide to ban you for hate speech. And all of a sudden you can’t spend your Libra anymore.

n"},"link":"https://techcrunch.com/2019/06/18/facebook-libra/#comment-666074","type":"comment","author_avatar_urls":{"24":"https://secure.gravatar.com/avatar/62f3bdf30e7b4ea882d77925c6db6265?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/62f3bdf30e7b4ea882d77925c6db6265?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/62f3bdf30e7b4ea882d77925c6db6265?s=96&d=identicon&r=g"},"techcrunch":{"avatar":"https://ct.yimg.com/cy/1768/39361574426_98028a_64sq.jpg","company":"(no company found)","title":"(no title found)","user":"M73UWALWXVWUBJ3WIOUUDUHAGQ"},"_links":{"self":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments/666074"}],"collection":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments"}],"up":[{"embeddable":true,"post_type":"post","href":"https://techcrunch.com/wp-json/wp/v2/posts/1845350"}]}},{"id":666076,"parent":0,"author":0,"author_name":"Charles Porter","author_url":"","date":"2019-06-18T04:36:01","content":{"rendered":"

Facebook is known for censoring undesirable content and collecting obscene amounts of private data on its users (and non-users. Facebook subsidiary WhatsApp announced that it would be suing users for violating its TOS, even if that violation occurred on a different platform or even meat-space.

n

Can’t imagine that FaceBucks will be free from those concerns.

n"},"link":"https://techcrunch.com/2019/06/18/facebook-libra/#comment-666076","type":"comment","author_avatar_urls":{"24":"https://secure.gravatar.com/avatar/435ffae10670466471c0b46cc7e90c39?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/435ffae10670466471c0b46cc7e90c39?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/435ffae10670466471c0b46cc7e90c39?s=96&d=identicon&r=g"},"techcrunch":{"avatar":"https://ct.yimg.com/cy/1768/39361574426_98028a_64sq.jpg","company":"(no company found)","title":"(no title found)","user":"KST5RH2GOMT5SGZO3XAUZVZ3QY"},"_links":{"self":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments/666076"}],"collection":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments"}],"up":[{"embeddable":true,"post_type":"post","href":"https://techcrunch.com/wp-json/wp/v2/posts/1845350"}]}},{"id":666082,"parent":0,"author":0,"author_name":"Shannon Butler","author_url":"","date":"2019-06-18T04:57:49","content":{"rendered":"

I haven’t read the white paper yet. I think Libra is going to have significant difficulty in maintaining the stability of the currency unless the gas charges are high to disincentivize arbitrage or there are stringent rules on trading.

n"},"link":"https://techcrunch.com/2019/06/18/facebook-libra/#comment-666082","type":"comment","author_avatar_urls":{"24":"https://secure.gravatar.com/avatar/6a6594ad086c14c085f66f59ca0fc5e2?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/6a6594ad086c14c085f66f59ca0fc5e2?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/6a6594ad086c14c085f66f59ca0fc5e2?s=96&d=identicon&r=g"},"techcrunch":{"avatar":"https://ct.yimg.com/cy/1768/39361574426_98028a_64sq.jpg","company":"(no company found)","title":"(no title found)","user":"NBRR4URN2JESBPUFJIP2MGAZAG"},"_links":{"self":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments/666082"}],"collection":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments"}],"up":[{"embeddable":true,"post_type":"post","href":"https://techcrunch.com/wp-json/wp/v2/posts/1845350"}]}},{"id":666069,"parent":666067,"author":0,"author_name":"F F","author_url":"","date":"2019-06-18T03:24:35","content":{"rendered":"

Hm… how about sending money to oversea? When you travel, you need to do currency exchange, you lose heaps of money by doing that. 7% sounds like a fair figure.

n"},"link":"https://techcrunch.com/2019/06/18/facebook-libra/#comment-666069","type":"comment","author_avatar_urls":{"24":"https://secure.gravatar.com/avatar/89d55d331bc8ec7879531cbba3b45d34?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/89d55d331bc8ec7879531cbba3b45d34?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/89d55d331bc8ec7879531cbba3b45d34?s=96&d=identicon&r=g"},"techcrunch":{"avatar":"https://ct.yimg.com/cy/1768/39361574426_98028a_64sq.jpg","company":"(no company found)","title":"(no title found)","user":"S7U2QTVHQRYVXIDR2LILVKDOYQ"},"_links":{"self":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments/666069"}],"collection":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments"}],"up":[{"embeddable":true,"post_type":"post","href":"https://techcrunch.com/wp-json/wp/v2/posts/1845350"}],"in-reply-to":[{"embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/comments/666067"}]}},{"id":666073,"parent":666067,"author":0,"author_name":"Erik de Vries","author_url":"","date":"2019-06-18T03:56:55","content":{"rendered":"

Companies like TransferWise are lowering the cost of international transfers and access to money overseas. You donu2019t need crypto currencies to take on the remittance industry. You just need a company with less overhead and more automation to reduce the transaction costs.

n"},"link":"https://techcrunch.com/2019/06/18/facebook-libra/#comment-666073","type":"comment","author_avatar_urls":{"24":"https://secure.gravatar.com/avatar/e83df7fd7ab6f712087b6d91d09a81fd?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/e83df7fd7ab6f712087b6d91d09a81fd?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/e83df7fd7ab6f712087b6d91d09a81fd?s=96&d=identicon&r=g"},"techcrunch":{"avatar":"https://ct.yimg.com/cy/1768/39361574426_98028a_64sq.jpg","company":"(no company found)","title":"(no title found)","user":"S3BOOWUGAEVKG3MQPVHAB5IKJA"},"_links":{"self":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments/666073"}],"collection":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments"}],"up":[{"embeddable":true,"post_type":"post","href":"https://techcrunch.com/wp-json/wp/v2/posts/1845350"}],"in-reply-to":[{"embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/comments/666067"}]}},{"id":666080,"parent":666067,"author":0,"author_name":"Shannon Butler","author_url":"","date":"2019-06-18T04:50:50","content":{"rendered":"

@Erik De Vries Transferwise is unfortunately still really expensive. I’d say due to the regulatory requirements imposed on these types of companies. As regulation comes into place this platform is likely to also become more expensive until it can be truly decentralized.

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Josh Constine is a technology journalist who specializes in deep analysis of social products. He is currently an Editor-At-Large for TechCrunch and is available for speaking engagements.

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Previously, Constine was the Lead Writer of Inside Facebook through its acquisition by WebMediaBrands, covering everything about the social network.

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Constine graduated from Stanford University in 2009 with a Master's degree in Cybersociology, examining the influence of technology on social interaction. He researched the impact of privacy controls on the socialization of children, meme popularity cycles, and what influences the click through rate of links posted to Twitter.

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Constine also received a Bachelor of Arts degree with honors from Stanford University in 2007, with a concentration in Social Psychology & Interpersonal Processes.

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Josh Constine is an experienced public speaker, and has moderated over 120 on-stage interviews in 15 countries with leaders including Facebook CEO Mark Zuckerberg, whistleblower Edward Snowden (via on-stage video conference), and U.S. Senator Cory Booker. He is available to moderate panels and fireside chats, deliver keynotes, and judge hackathon and pitch competitions.

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Constine has been quoted by The Wall Street Journal, CNN Money, The Atlantic, BBC World Magazine, Slate, and more, plus has been featured on television on Good Morning, America, The Today Show, China Central Television, and Fox News. Constine is ranked as the #1 most cited tech journalist on prestigious news aggregator Techmeme.

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Constine owns a small position in Ethereum and Bitcoin cryptocurrencies, does not day-trade, and discloses his positions directly in articles where appropriate. 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Modern Fertility is a San Francisco-based company that sells fertility tests directly to consumers, but increasingly, those customers will be educating the company, too. Indeed, the two-year-old startup now plans to develop a database of anonymized data about its largely younger demographic.

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Modern Fertility is a San Francisco-based company that sells fertility tests directly to consumers, but increasingly, those customers will be educating the company, too. Indeed, the two-year-old startup now plans to develop a database of anonymized data about its largely younger demographic.

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Microsoft in 2017 said it would eventually shut down Wunderlist, a company it acquired, in order to forge ahead with its own “to do” app. It has since launched To-Do, as the app is called, on Windows, iOS, Android and the web and expanded its feature set. Today, it’s bringing the app to the Mac, as well.

n

The company announced this morning its To-Do app is live on the Mac App Store, where it will support most of the core features right away, including the ability to create and manage tasks, work offline, share lists, utilize tags and more. It also will integrate with Microsoft Outlook to pull in your “Flagged” email list and will support integration with Planner soon, allowing you to see any items assigned to you.

n

The Mac version also takes advantage of its new platform to offer a handful of keyboard shortcuts, like u23182 to minimize the app so it only displays the list view, and u23181 to return to viewing all your lists. You can click on a task’s text to edit it directly from the list view, as well.u00a0

n

n

It’s worth noting that Microsoft built this native Mac app using 100% AppKit, it says.

n

At Apple’s Worldwide Developer Conference this month, the company announced a new set of tools — called Project Catalyst — that allow developers to bring their iPad apps to the Mac by leveraging their existing codebase. This is expected to bring more Mac apps to Apple’s Mac App Store over time, as it simplifies the process of maintaining multiple apps for various platforms. Twitter, for example, said on Friday that it would leverage Project Catalyst to bring its app back to the Mac.

n

Microsoft, however, went a different route. We understand the company wanted to ship the new app to Mac users running older versions of macOS (macOS High Sierra and higher), which Project Catalyst wouldn’t allow.

n

A big question now is what today’s news will mean for Wunderlist — an app that has a near-perfect 4.9 out of 5 stars rating on the Mac App Store and is the No. 21 most popular free app in the store’s Productivity category.

n

As of today’s launch, Microsoft To-Do has seen a surge of downloads and jumped ahead of its predecessor — it now claims the No. 11 spot in the same category (as of the time of writing).

n

Microsoft had earlier promised that it wouldn’t close down Wunderlist until it was confident that it has “incorporated the best of Wunderlist into To-Do.” Some of the company’s initial concerns were adding support for list sharing in To-Do and rolling out support for all platforms — which Microsoft has now done with this Mac app launch.

n

We asked Microsoft if it will comment on its updated plans for Wunderlist as a result of this launch.

n

“We’re not currently working on new features for Wunderlist as we’re concentrating on our new app, Microsoft To-Do,” a spokesperson said. “Once we are confident that we have incorporated the best of Wunderlist into Microsoft To-Do, we will retire Wunderlist,” they added.

n

This is generally the same statement the company made years ago, so it doesn’t add much clarity to the situation.

n

In the meantime, the new Mac version of To-Do is a free download from the Mac App Store here.

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founders need to decide how much salary is enough"},"content":{"rendered":"

Startup founders don’t typically launch a company as a get-rich-quick scheme. Most know that it will be a long, hard slog if they are to succeed. There will be lean years where the money is tight, and where they may personally struggle to pay their bills. They do it because they believe in the mission and they want to build a successful company, where, if all goes well, they could end up with a healthy amount of money.

n

But it takes a lot of hard work, long hours, tough times and a bit of luck to find your way through to a successful outcome, however you choose to define that. Early on every dollar you give yourself is money that’s not going into the business, and while you don’t want to starve yourself, neither do you want to run out of money, and those early dollars are especially valuable.

n

While the ultimate goal is a successful exit, not everyone gets there, and it begs the question, how much is fair to take out in the form of salary, especially in the early years when money is tight, and at what point is it reasonable to sell a bit of equity to take some money out of the business and live a more comfortable life. There are no hard and fast answers.

n

Removing financial obstacles

n

","protected":false},"excerpt":{"rendered":"

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Ron Miller has been writing about the enterprise at TechCrunch since 2014.

nn

Previously, he was a long-time Contributing Editor at EContent Magazine. Past regular gigs included CITEworld, DaniWeb, TechTarget, Internet Evolution and FierceContentManagement.

nn

Disclosures:

nn

Ron is currently corporate blogger for Intronis where he writes once weekly on IT issues. He has contributed to various corporate blogs in the past including Ness, Novell and the IBM Mid-market Blogger Program.

","cbAvatar":"https://crunchbase-production-res.cloudinary.com/image/upload/v1499972664/ht4i7k0bhkvpkjnlxuhp.jpg","twitter":"ron_miller"}],"author":[{"id":521068,"name":"Ron Miller","url":"","description":"","link":"https://techcrunch.com/author/ron-miller/","slug":"ron-miller","avatar_urls":{"24":"https://secure.gravatar.com/avatar/0b82cfe9f0e15c08c5816481c9f383d9?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/0b82cfe9f0e15c08c5816481c9f383d9?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/0b82cfe9f0e15c08c5816481c9f383d9?s=96&d=identicon&r=g"},"links":{"homepage":"https://techcrunch.com/author/ron-miller/","twitter":"https://twitter.com/ron_miller","linkedin":"http://www.linkedin.com/in/ronsmiller","crunchbase":"https://www.crunchbase.com/person/ron-miller"},"position":"Enterprise Reporter","cbDescription":"

Ron Miller has been writing about the enterprise at TechCrunch since 2014.

nn

Previously, he was a long-time Contributing Editor at EContent Magazine. Past regular gigs included CITEworld, DaniWeb, TechTarget, Internet Evolution and FierceContentManagement.

nn

Disclosures:

nn

Ron is currently corporate blogger for Intronis where he writes once weekly on IT issues. He has contributed to various corporate blogs in the past including Ness, Novell and the IBM Mid-market Blogger Program.

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proposes share split ahead of reported $20B Hong Kong IPO"},"content":{"rendered":"

Alibaba is being heavily linked with a public listing in Hong Kong, which could reportedly happen in Q3 and raise up to $20 billion. The firm is keeping quiet on those rumors, but it did let slip a major hint after it announced plans for a stock split.

n

Filings uploaded today (but originally released Friday) announced a proposal for a one-to-eight stock split.

n

Shareholders are invited to vote on the offer ahead of the company’s annual general meeting on July 15. The initiative has already been approved by Alibaba’s board, which is recommending that shareholders follow suit.

n

The particularly interesting part of the filing is where Alibaba explains the reasons behind the stock split.

n

“The Board of Directors is proposing the Share Subdivision to increase the flexibility for the Company in future capital market activities. Among other reasons, the one-to-eight share subdivision will increase the number of shares available for issuance at a lower per share price, and the Board of Directors believes that this will increase flexibility in the Companyu2019s capital raising activities, including the issuance of new shares,” the filing reads.

n

That would appear to clear the way for a second listing for the company, which went public in a record U.S. IPO that raised more than $20 billion in 2014.

n

Alibaba declined to provide further comment when we asked.

n

Reports last week suggested that the Chinese e-commerce giant has already filed initial paperwork for the listing, which would become the largest such float on the Hong Kong stock exchange. The city has become a destination for Chinese tech IPOs since relaxed listing rules came into effect two years ago. Ironically, a lack of flexibility was cited as a key reason why Alibaba picked the U.S. over Hong Kong for its 2014 listing.

n

Tech firms that have gone public in Hong Kong include Razer, Xiaomi, Tencent’s China Literature and selfie app company Meitu. Despite the hype, some have been guarded of Hong Kong’s suitability for tech firms, which are often not profitable when listing. Indeed, Razer CEO Min-Liang Tan previously warned that “the U.S. [public markets] are probably more cognizant of tech companies” than Hong Kong retail investors.

n","protected":false},"excerpt":{"rendered":"

Alibaba is being heavily linked with a public listing in Hong Kong, which could reportedly happen in Q3 and raise up to $20 billion. The firm is keeping quiet on those rumors, but it did let slip a major hint after it announced plans for a stock split. Filings uploaded today (but originally released Friday) […] n","protected":false},"author":5956050,"featured_media":1549123,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"outcome":"","status":"","crunchbase_tag":0,"amp_status":"","relegenceEntities":[],"relegenceSubjects":[],"jetpack_publicize_message":"Alibaba proposes share split ahead of reported $20B Hong Kong IPO https://tcrn.ch/2L1kU0G by @jonrussell"},"categories":[449557111],"tags":[929443,2666311,576595677,2639695,449556974,68714840,525935,542665,449557049,61334014],"crunchbase_tag":[],"tc_stories_tax":[],"tc_event":[],"jetpack_featured_media_url":"https://techcrunch.com/wp-content/uploads/2017/09/gettyimages-516871766-e1548854716530.jpg","jetpack_publicize_connections":[],"shortlink":"https://tcrn.ch/2L1kU0G","rapidData":{"pt":"","pct":""},"featured":false,"subtitle":"","fundingRound":false,"seoTitle":"","seoDescription":"","premiumContent":false,"premiumCutoffPercent":1,"tc_cb_mapping":[{"slug":"razer","cb_name":"Razer","cb_slug":"razer-organization","cb_link":"https://crunchbase.com/organization/razer"},{"slug":"xiaomi","cb_name":"Xiaomi","cb_slug":"xiaomi-organization","cb_link":"https://crunchbase.com/organization/xiaomi"},{"slug":"min-liang-tan","cb_name":"Min-Liang Tan","cb_slug":"min-liang-tan-person","cb_link":"https://crunchbase.com/person/min-liang-tan"},{"slug":"alibaba-group","cb_name":"Alibaba Group","cb_slug":"alibaba-organization","cb_link":"https://crunchbase.com/organization/alibaba"},{"slug":"meitu","cb_name":"Meitu","cb_slug":"meitu-organization","cb_link":"https://crunchbase.com/organization/meitu"},{"slug":"china-literature","cb_name":"China Literature","cb_slug":"china-literature-organization","cb_link":"https://crunchbase.com/organization/china-literature"}],"associatedEvent":null,"event":null,"authors":[5956050],"hideFeaturedImage":false,"relatedArticles":[],"_links":{"self":[{"href":"https://techcrunch.com/wp-json/wp/v2/posts/1844860"}],"collection":[{"href":"https://techcrunch.com/wp-json/wp/v2/posts"}],"about":[{"href":"https://techcrunch.com/wp-json/wp/v2/types/post"}],"version-history":[{"count":5,"href":"https://techcrunch.com/wp-json/wp/v2/posts/1844860/revisions"}],"predecessor-version":[{"id":1845025,"href":"https://techcrunch.com/wp-json/wp/v2/posts/1844860/revisions/1845025"}],"authors":[{"embeddable":true,"href":"https://techcrunch.com/wp-json/tc/v1/users/5956050"}],"replies":[{"embeddable":true,"count":0,"href":"https://techcrunch.com/wp-json/wp/v2/comments?post=1844860&order=asc&tc_hierarchical=flat"}],"https://techcrunch.com/edit":[{"href":"https://techcrunch.com/wp-admin/post.php?post=1844860&action=edit"}],"author":[{"embeddable":true,"href":"https://techcrunch.com/wp-json/tc/v1/users/5956050"}],"wp:featuredmedia":[{"embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/media/1549123"}],"wp:attachment":[{"href":"https://techcrunch.com/wp-json/wp/v2/media?parent=1844860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/categories?post=1844860"},{"taxonomy":"post_tag","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/tags?post=1844860"},{"taxonomy":"_tc_cb_tag_taxonomy","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/crunchbase_tag?post=1844860"},{"taxonomy":"tc_stories_tax","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/tc_stories_tax?post=1844860"},{"taxonomy":"tc_event","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/tc_event?post=1844860"}],"curies":[{"name":"wp","href":"https://api.w.org/{rel}","templated":true}]},"_embedded":{"authors":[{"id":5956050,"name":"Jon Russell","url":"","description":"","link":"https://techcrunch.com/author/jon-russell/","slug":"jon-russell","avatar_urls":{"24":"https://secure.gravatar.com/avatar/5f5876ccfd72ee5c2620b86429e8caf5?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/5f5876ccfd72ee5c2620b86429e8caf5?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/5f5876ccfd72ee5c2620b86429e8caf5?s=96&d=identicon&r=g"},"links":{"homepage":"http://asiatechreview.com","twitter":"https://twitter.com/jonrussell","linkedin":"http://th.linkedin.com/in/jmarussell","crunchbase":"https://www.crunchbase.com/person/jon-russell-2"},"position":"Writer","cbDescription":"

Jon Russell has been a reporter for TechCrunch since 2014 covering all things tech in Asia, in particular the major players in China, India and Southeast Asia. Originally from the UK, he is based in Bangkok and has lived in Thailand since 2008. During that time, Jon has watched smartphones and the internet, most notably Facebook, completely change the daily life of people across Southeast Asia. That's pace of change is set to continue as tech and startups become all the more influential in the region, and that's what keeps Jon's interest and attention.

nn

You reach Jon via [email protected] or use his PGP key. He's also active on Telegram (@jonrussell) and Twitter (@jonrussell) and he runs a weekly newsletter at Asiatechreview.com.

nn

Note: Jon owns a small amount of cryptocurrency. Enough to gain an understanding, not enough to change a life.

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Jon Russell has been a reporter for TechCrunch since 2014 covering all things tech in Asia, in particular the major players in China, India and Southeast Asia. Originally from the UK, he is based in Bangkok and has lived in Thailand since 2008. During that time, Jon has watched smartphones and the internet, most notably Facebook, completely change the daily life of people across Southeast Asia. That's pace of change is set to continue as tech and startups become all the more influential in the region, and that's what keeps Jon's interest and attention.

nn

You reach Jon via [email protected] or use his PGP key. He's also active on Telegram (@jonrussell) and Twitter (@jonrussell) and he runs a weekly newsletter at Asiatechreview.com.

nn

Note: Jon owns a small amount of cryptocurrency. Enough to gain an understanding, not enough to change a life.

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HANGZHOU, March 21, 2016– People walk past a logo of China’s e-commerce giant Alibaba in Hangzhou, capital of east China’s Zhejiang Province, March 21, 2016. Alibaba China retail marketplaces real-time gross merchandize value in fiscal year 2016 reached three trillion RMB at 2:58 p.m. on March 21, 2016. This means Alibaba Group, China’s leading e-commerce company, might exceed Wal-Mart and become the world’s biggest retail platform in fiscal year 2016, according to analysis. (Xinhua/Wang Dingchang via Getty Images)

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Alibaba China retail marketplaces real-time gross merchandize value in fiscal year 2016 reached three trillion RMB at 2:58 p.m. on March 21, 2016. This means Alibaba Group, China's leading e-commerce company, might exceed Wal-Mart and become the world's biggest retail platform in fiscal year 2016, according to analysis. 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won the H-1B lottery: Donu2019t lose your ticket when changing jobs"},"content":{"rendered":"n n

Getting an H-1B skilled-worker visa is like winning the lottery u2014 literally: With the number of new visas issued each year capped at 85,000, most of this year’s over 200,000 applicants face disappointment. But if youu2019re already working in the United States, then youu2019ve already won the H-1B lottery, and that makes you a hot commodity.

n

With H-1Bs in short supply, successful companies frequently poach skilled workers. Everyone knows the tech sector thrives on this free exchange of people and ideas, so if another employer needs your skills, why not start working for them?

n

Well, not so fast. H-1B holders can work only for the company that originally sponsored their visa application. So if you want to change employers, youu2019ll need to u201ctransferu201d your H-1B.

n

That process used to be relatively straightforward but not in the Trump era. (Boundless recently underwent this process with an employee, so we understand the pain.) The denial rate for initial H-1B applications spiked over five-fold to 32 percent just in the first quarter of fiscal 2019, up from 6 percent in 2015. Crucially, the Trump administration is targeting u201ccontinuingu201d H-1B applications used by existing employees to either renew their H-1B or switch it to a new employer. Even tech giants like Amazon are now seeing double-digit rejection rates.

n

n

The bottom line: The days of getting an H-1B transfer quickly rubber-stamped are long gone, and that makes it vital to do whatever you can to keep the odds in your favor. The stakes are high u2014 if things go south, you could lose your right to live and work in the United States. Hereu2019s what H-1B holders need to know about the right u2014 and wrong u2014 ways to set about switching employers:

n

Donu2019t take your transfer for granted.

n

First, understand that an H-1B u201ctransferu201d is actually a brand new visa application, not a simple handover of your existing H-1B visa from one employer to another u2014 thereu2019s no such thing.

n

","protected":false},"excerpt":{"rendered":"

Getting an H-1B skilled-worker visa is like winning the lottery u2014 literally: With the number of new visas issued each year capped at 85,000, most of this year’s over 200,000 applicants face disappointment. But if youu2019re already working in the United States, then youu2019ve already won the H-1B lottery, and that makes you a hot commodity.

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to make remote work work"},"content":{"rendered":"

Every time I see a “the future of work is remote” article, I think to myself: “How backwards! How retro! How quaint!” That future is now, for many of us. I’ve been a fully remote developer-turned-CTO for a full decade. So I’m always baffled by people still wrestling with whether remote work is viable for their company. That jury rendered its verdict a long time ago.

n

One reason companies still struggle with it is that remote work amplifies the negative effects of bad practices. If everyone’s in one place, you can dither, handwave, vacillate, micromanage, and turn your workplace into an endless wasteland of unclear uncertainty, punctuated by ad-hoc last-second crisis meetings u2014 and your employees will probably still conspire against your counterproduction to get something done, albeit much less than what they’re capable of.

n

If they’re remote, though, progress via conspiracy and adhocracy is no longer an option. If they’re remote, you need decisive confidence, clear direction, iterative targets, independent responsibilities, asynchronous communications, and cheerful chatter. Let me go over each of those:

n

Decisive confidence. Suppose Vivek in Delhi, Diego in Rio, and Miles in Berlin are all on a project. (An example I’m drawing from my real life.) It’s late your time. You have to make a decision about the direction of their work. If you sleep on it, you’re writing off multiple developer-days of productivity.

n

Sometimes they have enough responsibilities to have other things to work on. (More on that below.) Sometimes you don’t have to make the decision because they have enough responsibility to do so themselves. (More on that below.) But sometimes you have to make the business-level decision based on scant information. In cases like this, remember the military maxim: “Any decision is better than no decision.”

n

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Every time I see a “the future of work is remote” article, I think to myself: “How backwards! How retro! How quaint!” That future is now, for many of us. I’ve been a fully remote developer-turned-CTO for a full decade. So I’m always baffled by people still wrestling with whether remote work is viable for […] n","protected":false},"author":18174465,"featured_media":1834069,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"outcome":"","status":"","crunchbase_tag":0,"amp_status":"","relegenceEntities":[],"relegenceSubjects":[],"jetpack_publicize_message":"How to make remote work work by @rezendi"},"categories":[14911,576596928,352,449162627,20429,576603290,17396],"tags":[220230,81,970347,576603422],"crunchbase_tag":[],"tc_stories_tax":[],"tc_event":[],"jetpack_featured_media_url":"https://techcrunch.com/wp-content/uploads/2019/05/GettyImages-1084518636.jpg","jetpack_publicize_connections":[],"shortlink":"https://tcrn.ch/31zH0NK","rapidData":{"pt":"","pct":""},"featured":false,"subtitle":"","fundingRound":false,"seoTitle":"","seoDescription":"","premiumContent":true,"premiumCutoffPercent":0.16,"tc_cb_mapping":[{"slug":"google","cb_name":"Google","cb_slug":"google-organization","cb_link":"https://crunchbase.com/organization/google"}],"associatedEvent":null,"event":null,"authors":[18174465],"hideFeaturedImage":false,"relatedArticles":[],"_links":{"self":[{"href":"https://techcrunch.com/wp-json/wp/v2/posts/1840990"}],"collection":[{"href":"https://techcrunch.com/wp-json/wp/v2/posts"}],"about":[{"href":"https://techcrunch.com/wp-json/wp/v2/types/post"}],"version-history":[{"count":7,"href":"https://techcrunch.com/wp-json/wp/v2/posts/1840990/revisions"}],"predecessor-version":[{"id":1841995,"href":"https://techcrunch.com/wp-json/wp/v2/posts/1840990/revisions/1841995"}],"authors":[{"embeddable":true,"href":"https://techcrunch.com/wp-json/tc/v1/users/18174465"}],"replies":[{"embeddable":true,"count":1,"href":"https://techcrunch.com/wp-json/wp/v2/comments?post=1840990&order=asc&tc_hierarchical=flat"}],"https://techcrunch.com/edit":[{"href":"https://techcrunch.com/wp-admin/post.php?post=1840990&action=edit"}],"author":[{"embeddable":true,"href":"https://techcrunch.com/wp-json/tc/v1/users/18174465"}],"wp:featuredmedia":[{"embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/media/1834069"}],"wp:attachment":[{"href":"https://techcrunch.com/wp-json/wp/v2/media?parent=1840990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/categories?post=1840990"},{"taxonomy":"post_tag","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/tags?post=1840990"},{"taxonomy":"_tc_cb_tag_taxonomy","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/crunchbase_tag?post=1840990"},{"taxonomy":"tc_stories_tax","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/tc_stories_tax?post=1840990"},{"taxonomy":"tc_event","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/tc_event?post=1840990"}],"curies":[{"name":"wp","href":"https://api.w.org/{rel}","templated":true}]},"_embedded":{"authors":[{"id":18174465,"name":"Jon Evans","url":"http://rezendi.com/","description":"Jon Evans is the CTO of the engineering consultancy HappyFunCorp; the award-winning author of six novels, one graphic novel, and a book of travel writing; and TechCrunch's weekend columnist since 2010.","link":"https://techcrunch.com/author/jon-evans/","slug":"jon-evans","avatar_urls":{"24":"https://secure.gravatar.com/avatar/df4f08903b7a5c3d7078165edcf5bcf7?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/df4f08903b7a5c3d7078165edcf5bcf7?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/df4f08903b7a5c3d7078165edcf5bcf7?s=96&d=identicon&r=g"},"links":{"homepage":"http://rezendi.com","facebook":"http://www.facebook.com/rezendi","twitter":"http://twitter.com/rezendi","linkedin":"http://www.linkedin.com/in/rezendi","crunchbase":"https://www.crunchbase.com/person/jon-evans"},"position":"Columnist","cbDescription":"

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Image via Getty Images / PayPau

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top VCs look for in women’s fertility startups"},"content":{"rendered":"

A number of promising women’s health tech companies have popped up in the last few years, from fertility apps to ovulation bracelets — even Apple has jumped into the subject with the addition of period tracking built into the latest edition of the watch. But there hasn’t been much in the way of innovation in women’s sexual health for decades.

n

In-vitro fertilization (IVF) is now a 40-year-old invention and even the top pharmaceutical companies have spent a pittance on research and development. Subjects like polycystic ovarian syndrome, endometriosis and menopause have taken a backseat to other, more fatal concerns. Fertility is itself oftentimes a mysterious black box as well, though a full 10% of the female population in the United States has difficulty getting or staying pregnant.

n

That’s all starting to change as startups are now bringing in millions in venture capital to gather and treat women’s health. While it’s early days (no unicorns just yet) interest in the subject has been jumping steadily higher each year.

n

To shine a better light on the importance of tech’s role in spurring more innovation for women’s fertility, we asked five VCs passionate about the space for their investment strategies, including Sarah Cone (Social Impact Capital), Vanessa Larco (NEA), Anu Duggal (Female Founders Fund), Jess Lee (Sequoia) and Nancy Brown (Oak HC/FT).

n

Sarah Cone, Social Impact Capital

n

Sarah Cone, Social Impact Capital

n

Weu2019re interested in companies that create large data sets in womenu2019s health and fertility, enabling personalized medicine, clinical trial virtualization, better patient outcomes, and the application of modern AI/ML techniques to generate hypotheses that discover new targets and molecules.

n

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A number of promising women’s health tech companies have popped up in the last few years, from fertility apps to ovulation bracelets — even Apple has jumped into the subject with the addition of period tracking built into the latest edition of the watch. But there hasn’t been much in the way of innovation in […] n","protected":false},"author":4917400,"featured_media":1836935,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"outcome":"","status":"","crunchbase_tag":0,"amp_status":"","relegenceEntities":[],"relegenceSubjects":[],"jetpack_publicize_message":"What top VCs look for in women’s fertility startups https://tcrn.ch/2I6Znlp"},"categories":[449557102,1772,576596927,337,446313605,20429,17396],"tags":[449547332,291,12374,10406,406669,35350,304713875,449553379,1460,91372,576599593,7383,326792,576608420,479814,449557049,202,449551602],"crunchbase_tag":[],"tc_stories_tax":[],"tc_event":[],"jetpack_featured_media_url":"https://techcrunch.com/wp-content/uploads/2019/06/GettyImages-623680490.jpg","jetpack_publicize_connections":[],"shortlink":"https://tcrn.ch/2I6Znlp","rapidData":{"pt":"","pct":""},"featured":true,"subtitle":"Investors are starting to pour millions into women's health tech. Does your startup have what it takes to get their attention?","fundingRound":false,"seoTitle":"","seoDescription":"","premiumContent":true,"premiumCutoffPercent":0.23,"tc_cb_mapping":[{"slug":"female-founders-fund","cb_name":"Female Founders Fund","cb_slug":"female-founders-fund-organization","cb_link":"https://crunchbase.com/organization/female-founders-fund"},{"slug":"apple","cb_name":"Apple","cb_slug":"apple-organization","cb_link":"https://crunchbase.com/organization/apple"},{"slug":"abbvie","cb_name":"AbbVie","cb_slug":"abbvie-organization","cb_link":"https://crunchbase.com/organization/abbvie"}],"associatedEvent":null,"event":null,"authors":[4917400],"hideFeaturedImage":false,"relatedArticles":[],"_links":{"self":[{"href":"https://techcrunch.com/wp-json/wp/v2/posts/1836879"}],"collection":[{"href":"https://techcrunch.com/wp-json/wp/v2/posts"}],"about":[{"href":"https://techcrunch.com/wp-json/wp/v2/types/post"}],"version-history":[{"count":18,"href":"https://techcrunch.com/wp-json/wp/v2/posts/1836879/revisions"}],"predecessor-version":[{"id":1840886,"href":"https://techcrunch.com/wp-json/wp/v2/posts/1836879/revisions/1840886"}],"authors":[{"embeddable":true,"href":"https://techcrunch.com/wp-json/tc/v1/users/4917400"}],"replies":[{"embeddable":true,"count":0,"href":"https://techcrunch.com/wp-json/wp/v2/comments?post=1836879&order=asc&tc_hierarchical=flat"}],"https://techcrunch.com/edit":[{"href":"https://techcrunch.com/wp-admin/post.php?post=1836879&action=edit"}],"author":[{"embeddable":true,"href":"https://techcrunch.com/wp-json/tc/v1/users/4917400"}],"wp:featuredmedia":[{"embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/media/1836935"}],"wp:attachment":[{"href":"https://techcrunch.com/wp-json/wp/v2/media?parent=1836879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/categories?post=1836879"},{"taxonomy":"post_tag","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/tags?post=1836879"},{"taxonomy":"_tc_cb_tag_taxonomy","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/crunchbase_tag?post=1836879"},{"taxonomy":"tc_stories_tax","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/tc_stories_tax?post=1836879"},{"taxonomy":"tc_event","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/tc_event?post=1836879"}],"curies":[{"name":"wp","href":"https://api.w.org/{rel}","templated":true}]},"_embedded":{"authors":[{"id":4917400,"name":"Sarah Buhr","url":"","description":"","link":"https://techcrunch.com/author/sarah-buhr/","slug":"sarah-buhr","avatar_urls":{"24":"https://secure.gravatar.com/avatar/fd29b49402f568221dff899bf12b7c14?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/fd29b49402f568221dff899bf12b7c14?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/fd29b49402f568221dff899bf12b7c14?s=96&d=identicon&r=g"},"links":{"homepage":"http://www.about.me/sarahbuhr","facebook":"http://www.facebook.com/sarahbuhr","twitter":"http://twitter.com/sarahbuhr","linkedin":"http://www.linkedin.com/in/sarahjanebuhr","crunchbase":"https://www.crunchbase.com/person/sarah-buhr"},"position":"Reporter","cbDescription":"

I write about the wild new frontier of biotechnology (3D printed organs, one drop blood tests, or hamburgers grown in a lab? I'm your gal), also a bit of politics, gender and diversity and sometimes they put me on camera at TechCrunch so send your fun gadgets and gizmos my way.

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101: Do VC associates matter?"},"content":{"rendered":"

Building a company is fueled by highs and lows, but one of the few moments of potential ecstasy (or perhaps for grizzled veterans, deep annoyance) is the VC outreach email. You are building your startup on deforming IKEA desks eating frozen dinners when out of nowhere, a major VC firm reaches out and wants to discuss a potential investment.

n

But then you look up your interlocutor online and find that they have that completely enigmatic title of u201cAssociate.u201d Heck, that email may well have been from me over the years.

n

What do you do? Do you connect with someone who may well be working at a prominent firm and try to engage? Do you flat out ignore it? Do you equivocate and delay?

n

In short, do VC associates matter to your fundraise?

n

First, what exactly are associates and what do they do?

n

The best way to understand the work of a venture firm is to look at their actual activities rather than the titles or listed duties of any individual person. On the investment side, there are three main activities: analytics, networking / deal sourcing, and closing.

n

","protected":false},"excerpt":{"rendered":"

Building a company is fueled by highs and lows, but one of the few moments of potential ecstasy (or perhaps for grizzled veterans, deep annoyance) is the VC outreach email. You are building your startup on deforming IKEA desks eating frozen dinners when out of nowhere, a major VC firm reaches out and wants to […] n","protected":false},"author":15408904,"featured_media":1841458,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"outcome":"","status":"","crunchbase_tag":0,"amp_status":"","relegenceEntities":[],"relegenceSubjects":[],"jetpack_publicize_message":""},"categories":[576602978,20429,35394854],"tags":[576673265,20334,576673264],"crunchbase_tag":[],"tc_stories_tax":[],"tc_event":[],"jetpack_featured_media_url":"https://techcrunch.com/wp-content/uploads/2019/06/GettyImages-88622588.jpg","jetpack_publicize_connections":[],"shortlink":"https://tcrn.ch/2MK9SzJ","rapidData":{"pt":"","pct":""},"featured":false,"subtitle":"","fundingRound":false,"seoTitle":"","seoDescription":"","premiumContent":true,"premiumCutoffPercent":0.12,"tc_cb_mapping":[],"associatedEvent":null,"event":null,"authors":[1719192],"hideFeaturedImage":false,"relatedArticles":[],"_links":{"self":[{"href":"https://techcrunch.com/wp-json/wp/v2/posts/1841449"}],"collection":[{"href":"https://techcrunch.com/wp-json/wp/v2/posts"}],"about":[{"href":"https://techcrunch.com/wp-json/wp/v2/types/post"}],"version-history":[{"count":4,"href":"https://techcrunch.com/wp-json/wp/v2/posts/1841449/revisions"}],"predecessor-version":[{"id":1841462,"href":"https://techcrunch.com/wp-json/wp/v2/posts/1841449/revisions/1841462"}],"authors":[{"embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/guest-authors/danny-crichton-2"}],"replies":[{"embeddable":true,"count":2,"href":"https://techcrunch.com/wp-json/wp/v2/comments?post=1841449&order=asc&tc_hierarchical=flat"}],"https://techcrunch.com/edit":[{"href":"https://techcrunch.com/wp-admin/post.php?post=1841449&action=edit"}],"author":[{"embeddable":true,"href":"https://techcrunch.com/wp-json/tc/v1/users/15408904"}],"wp:featuredmedia":[{"embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/media/1841458"}],"wp:attachment":[{"href":"https://techcrunch.com/wp-json/wp/v2/media?parent=1841449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/categories?post=1841449"},{"taxonomy":"post_tag","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/tags?post=1841449"},{"taxonomy":"_tc_cb_tag_taxonomy","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/crunchbase_tag?post=1841449"},{"taxonomy":"tc_stories_tax","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/tc_stories_tax?post=1841449"},{"taxonomy":"tc_event","embeddable":true,"href":"https://techcrunch.com/wp-json/wp/v2/tc_event?post=1841449"}],"curies":[{"name":"wp","href":"https://api.w.org/{rel}","templated":true}]},"_embedded":{"authors":[{"id":1719192,"name":"Danny Crichton","link":"https://techcrunch.com/author/danny-crichton-2/","description":"Danny Crichton is an investor at CRV and a former contributing writer at TechCrunch. ","slug":"danny-crichton-2","links":{"homepage":"https://www.dannycrichton.com","facebook":"http://www.facebook.com/dancric","twitter":"http://twitter.com/dannycrichton","linkedin":"http://www.linkedin.com/in/dannycrichton","crunchbase":"https://www.crunchbase.com/person/danny-crichton"},"position":"Contributor","cbDescription":"

Danny is Executive Editor of TechCrunch Extra Crunch, where he covers technology and power. Previously, he was a foreign correspondent at TechCrunch based in Seoul, South Korea as well as a venture capitalist with General Catalyst in Palo Alto and Charles River Ventures in Boston and New York. He was awarded a Fulbright research scholarship to South Korea, where he researched the development of Koreau2019s startup ecosystem. He is a PhD dropout from Harvard where he studied public policy and an honors graduate of Stanford, where he studied mathematical and computational sciences. Danny is based in Brooklyn.

nn

His ethics statement is located at https://www.dannycrichton.com/ethics/

","cbAvatar":"https://crunchbase-production-res.cloudinary.com/image/upload/kx43q415v57n7kc56gvq","twitter":"dannycrichton"}],"replies":[[{"id":665833,"parent":0,"author":0,"author_name":"Marius Chawa","author_url":"","date":"2019-06-14T01:07:47","content":{"rendered":"

totally agree. relationships are everything

n"},"link":"https://techcrunch.com/2019/06/12/fundraising-101-do-vc-associates-matter/#comment-665833","type":"comment","author_avatar_urls":{"24":"https://secure.gravatar.com/avatar/4ca18687cfc6f19d03c826b6a35fac46?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/4ca18687cfc6f19d03c826b6a35fac46?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/4ca18687cfc6f19d03c826b6a35fac46?s=96&d=identicon&r=g"},"techcrunch":{"avatar":"https://ct.yimg.com/cy/1768/39361574426_98028a_64sq.jpg","company":"(no company found)","title":"(no title found)","user":"KPUAFPUPYWGEZ5SJBGTYKJIFXY"},"_links":{"self":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments/665833"}],"collection":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments"}],"up":[{"embeddable":true,"post_type":"post","href":"https://techcrunch.com/wp-json/wp/v2/posts/1841449"}]}},{"id":665838,"parent":0,"author":0,"author_name":"Derek Bittar","author_url":"","date":"2019-06-14T02:59:38","content":{"rendered":"

Entrepreneurs need to understand that VCs mean no offenses in having associates in the frontlines. Associates make a GPs work scalable. They are the extension of the GPs work – usually very synergetic. So, beware not to underestimate an associateu2019s influence on an investment decision. Being arrogant may spoil your opportunity, no matter the size of the fund on the other side of the table.

n"},"link":"https://techcrunch.com/2019/06/12/fundraising-101-do-vc-associates-matter/#comment-665838","type":"comment","author_avatar_urls":{"24":"https://secure.gravatar.com/avatar/448a8f70751354d8fa944d473e2cf674?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/448a8f70751354d8fa944d473e2cf674?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/448a8f70751354d8fa944d473e2cf674?s=96&d=identicon&r=g"},"techcrunch":{"avatar":"https://ct.yimg.com/cy/1768/39361574426_98028a_64sq.jpg","company":"(no company found)","title":"(no title found)","user":"COGLA7RR6E5WFXRGQ4WPPHPOXY"},"_links":{"self":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments/665838"}],"collection":[{"href":"https://techcrunch.com/wp-json/wp/v2/comments"}],"up":[{"embeddable":true,"post_type":"post","href":"https://techcrunch.com/wp-json/wp/v2/posts/1841449"}]}}]],"author":[{"id":15408904,"name":"Danny Crichton","url":"","description":"","link":"https://techcrunch.com/author/danny-crichton/","slug":"danny-crichton","avatar_urls":{"24":"https://secure.gravatar.com/avatar/8c216d6030a712ef1dd35e2d6ffdf497?s=24&d=identicon&r=g","48":"https://secure.gravatar.com/avatar/8c216d6030a712ef1dd35e2d6ffdf497?s=48&d=identicon&r=g","96":"https://secure.gravatar.com/avatar/8c216d6030a712ef1dd35e2d6ffdf497?s=96&d=identicon&r=g"},"links":{"homepage":"https://www.dannycrichton.com","facebook":"http://www.facebook.com/dancric","twitter":"https://twitter.com/dannycrichton","linkedin":"http://www.linkedin.com/in/dannycrichton","crunchbase":"https://www.crunchbase.com/person/danny-crichton"},"position":"Editorial Manager","cbDescription":"

Danny is Executive Editor of TechCrunch Extra Crunch, where he covers technology and power. Previously, he was a foreign correspondent at TechCrunch based in Seoul, South Korea as well as a venture capitalist with General Catalyst in Palo Alto and Charles River Ventures in Boston and New York. He was awarded a Fulbright research scholarship to South Korea, where he researched the development of Koreau2019s startup ecosystem. He is a PhD dropout from Harvard where he studied public policy and an honors graduate of Stanford, where he studied mathematical and computational sciences. Danny is based in Brooklyn.

nn

His ethics statement is located at https://www.dannycrichton.com/ethics/

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future of car ownership: Building an online dealership"},"content":{"rendered":"

Buying a car is painful. Dealerships are the worst, and the options are endless. The rise of the Internet produced powerful tools for shoppers, but in the end, most buyers still have to trudge down to a car lot.

n

For this series of articles, TechCrunch spoke with several founders and investors attempting to rethink car buying. It’s clear these startups are the underdog in this fight. Most consumers buy cars the same way as their grandparents did and for good reason. Dealerships nationwide fought for years to enact laws and regulations that protect their businesses.

n

Several young companies are attempting to put the dealership online. Companies like Carvana, Shift, Vroom and Joydrive are putting the entire car buying process online, allowing customers to buy, trade-in and even test drive vehicles without talking to a salesman in an oversized golf pullover.

n

In the next part of this series, weu2019ll look at companies like Fair that are moving consumers away from purchasing and into short-term leases. Even automakers are trying something new. Tesla sells directly to consumers while Volvo, BMW, Mercedes and others are launching subscription options to give owners even more flexibility.

n

The three new dealerships

n

n

Several companies are building online car dealerships. Shoppers find and buy a vehicle solely through these sites, and often, the cars are delivered to the buyer. These online dealerships even take trade-ins.

n

Three services dominate this space, and they were all founded in 2013. Carvana, Shift, and Vroom hit the market at the same time but have experienced different paths. One thing is clear though: it takes hundreds of millions of venture capital money to build an online dealership.

n

Emily Melton, co-founder and managing partner, Threshold Ventures (formally known as DFJ Ventures), points to consumeru2019s changing expectations and an optimized process across all kinds of vehicles. She co-led Shiftu2019s Series A in 2014.

n

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GoTenna is best known for its outdoors-oriented consumer products that let you text and share locations between smartphones off the grid. But the company has found that government work u2014 military, fire, rescue u2014 is the real market, and is pursuing it with a vengeance on the strength of a $24 million funding round.

n

“We’ve been busy!” said Daniela Perdomo, founder and CEO of the company, in an interview. “We have a good problem, which is a technology that can be so foundationally enabling for so many use cases.”

n

GoTenna’s core tech is mesh networking over radio frequencies normally used for walkie-talkies: long range but low bandwidth. Yet if all you need to send are GPS coordinates or a short message, it’s perfectly sufficient and works great where mobile and satellites connections are impractical. Just on the device, smaller than a deck of cards, and you can chat over miles in the middle of nowhere with your climbing partners or back country ski pals.

n

In the last couple years the company has shifted its priorities from consumer tech u2014 the GoTenna and Mesh series of gadgets u2014 to filling the needs of public sector clients that have been asking for something like this for years.

n

Firefighters, military operations, local law enforcement, search and rescue u2014 many were using bulky, over-engineered, expensive solutions that haven’t changed much in decades. GoTenna works with nearly any smartphone and instantly creates a mesh network that can span miles, making it perfect for off-grid communications.

n n

Perdomo said this was actually more or less the plan from the beginning.

n

“It was in my first ever pitch deck when we raised our seed in 2013, there was this blue-sky vision of how the technology would be used,” she told me. “But it was simpler to launch an MVP to consumers. We always felt that product was going to bring in the public sector. And that’s exactly what happened u2014 when we launched our first generation product, I think within 24 hours we had a variety of different public sector customers reach out to us.”

n

“We now have some federal agencies that have been customers through every generation of the product. We sill have our consumer product, and people love it, but it’s a small part of our business compared to the public sector,” she said.

n

An example of how the interface might look in use. It can relay the locations of other GoTenna devices at intervals, helping teams keep in touch automatically.

n

While disaster response crews could of course just buy a couple dozen of the regular GoTenna products, they were quick to ask for “pro” versions with features prized by advanced users and military customers.

n

Longer range, more programmable wireless parameters, compatibility with various legacy systems u2014 the Pro and new ProX versions of the GoTenna system hit a lot of sweet spots. As Perdomo told me when the Pro first came out, legacy systems are powerful in some ways but can also be horribly expensive, incompatible with foreign wireless systems, or even have legal restrictions on where they can be used.

n

For a cash-strapped NGO that goes around doing global aid, a $100-$500 gadget that turns an ordinary phone into a versatile mesh node is potentially game-changing. (You can also use them to temporarily replace destroyed communications infrastructure.)

n n

But deep-pocketed federal agencies and military branches are also shelling out for the devices, and increasingly for the software support contracts that go with them. GoTenna’s Aspen Grove is a proprietary mesh network protocol that they’ve engineered to be faster and more robust than anything else out there. I’d exert a little skepticism here normally, but from what I’ve seen the systems GoTenna is replacing or augmenting aren’t exactly competitive.

n

In fact GoTenna’s next major hardware project is to create a mesh networking board that can be integrated right into existing hardware, simplifying the systems and baking its protocols in even deeper.

n

“We have a long list of companies that want to integrate our tech into vehicles, aircraft, anything you can think of,” Perdomo said. “So you can put one of these babies on a UAV and let ‘er rip! Our record range, point to point from a UAV, is 69 miles.”

n

Meanwhile the company is also releasing a broader open source mesh platform called Lot 49 that’s meant to be capable of supporting a global messaging infrastructure without relying on any wireless providers. That could be a big deal for internet of things type devices as well.

n

Interestingly, Perdomo doesn’t feel threatened by the new and rather scary kid on the block: communications satellite constellations like Starlink and OneWeb. If the idea is that GoTenna lets you communicate where the grid doesn’t reach, what happens when the grid is global?

n

“No matter how many satellites you put up, repeaters you put up, cables you lay down, you always have that last mile. You need resiliency, access, and I believe neutrality as well,” she said. And indeed you’re not going to take a Starlink ground station with you on a covert operation or into an active wildfire. And having an existing, ongoing business agreement with a satellite communications provider may not even be desirable in the first place.

n

“There’s a reason why certain incumbents in the tactical radio space as well as carriers are partnering with us,” Perdomo pointed out u2014 and indeed Comcast Ventures is a new face among the investors. “We’re creating a new layer in the communications stack, mesh networks with a focus on bursty data. I think of us as perfectly complementary to every other communications company.”

n

As for that funding, it will go towards easing the rapid growth the company is experiencing, finishing the pro and embedded options, hiring up, and expanding operations to support their growing services business. The $24M round was led by Founders Fund, with participation from Comcast Ventures and existing investors Union Square Ventures, Collaborative Fund, Walden VC, MentorTech, and Bloomberg Beta.

n

“We’ve been in R&D for a really long time,” Perdomo said. “It’s exciting now to also be becoming a business. All of the most impressive mainstream telecommunications technologies we use today, things like the internet or GPS, they hit it out of the park with the public sector first. If you can win there, in life or death situations, you know you can win everywhere else as well.”

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GoTenna is best known for its outdoors-oriented consumer products that let you text and share locations between smartphones off the grid. But the company has found that government work u2014 military, fire, rescue u2014 is the real market, and is pursuing it with a vengeance on the strength of a $24 million funding round.

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