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At the time, the total number of photos shared on the service was at 95 million, and given the rate of growth, they expected to pass 100 million shortly. Well, they missed pointing out that milestone, but today, not even two months later, they're pointing out another one: 150 million photos. That's 150 million photos uploaded to Instagram in just the 9 months since the app launched. For comparison's sake, it took Flickr nearly <em>two years</em> to hit <a href="http://blog.flickr.net/2006/02/15/100000000th/">100 million total photos</a> on their service. Incredibly, Instagram is now seeing 1.3 million photos uploaded each day — that's a rate of 15 photos per second."/> <meta name="sailthru.image.full" content="https://techcrunch.com/wp-content/uploads/2011/08/8174dc6269014fceb8577dfea2202aae_7.jpeg"/> <meta name="sailthru.image.thumb" content="https://techcrunch.com/wp-content/uploads/2011/08/8174dc6269014fceb8577dfea2202aae_7.jpeg?w=50"/>   <meta name="wp-parsely_version" id="wp-parsely_version" content="1.13.0"/> <script type="application/ld+json"> {"@context":"https:\/\/web.archive.org\/web\/20191107125216\/http:\/\/schema.org","@type":"NewsArticle","mainEntityOfPage":{"@type":"WebPage","@id":"https:\/\/web.archive.org\/web\/20191107125216\/http:\/\/techcrunch.com\/2011\/08\/03\/instagram-150-million\/"},"headline":"The Latest Crazy Instagram Stats: 150 Million Photos, 15 Per Second, 80% Filtered","url":"https:\/\/web.archive.org\/web\/20191107125216\/http:\/\/techcrunch.com\/2011\/08\/03\/instagram-150-million\/","thumbnailUrl":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/techcrunch.com\/wp-content\/uploads\/2011\/08\/8174dc6269014fceb8577dfea2202aae_7.jpeg?w=150","image":{"@type":"ImageObject","url":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/techcrunch.com\/wp-content\/uploads\/2011\/08\/8174dc6269014fceb8577dfea2202aae_7.jpeg?w=150"},"dateCreated":"2011-08-03T18:59:24Z","datePublished":"2011-08-03T18:59:24Z","dateModified":"2011-08-03T18:59:24Z","articleSection":"post","author":[{"@type":"Person","name":"MG Siegler"}],"creator":["MG Siegler"],"keywords":["@post-id:401137","mobile","startups","tc","flickr","instagram"],"publisher":{"@type":"Organization","name":"TechCrunch","logo":{"@type":"imageObject","url":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/techcrunch.com\/wp-content\/themes\/techcrunch-2017\/images\/logo-json-ld.png","width":"600","height":"60"}}} </script>  <meta property="fb:app_id" content="187288694643718"/> <meta property="fb:pages" content="8062627951"/> <meta property="fb:admins" content="8803025,726995222,771265067,1550970059,1661021707,1178144075,643979435,4700188"/> <meta property="article:publisher" content="https://www.facebook.com/techcrunch"/> <meta property="og:site_name" content="TechCrunch"/> <meta property="og:site" content="social.techcrunch.com"/> <meta property="og:title" content="The Latest Crazy Instagram Stats: 150 Million Photos, 15 Per Second, 80% Filtered – TechCrunch"/> <meta property="og:description" content="This past June, we noted that Instagram hit a big milestone: 5 million users. At the time, the total number of photos shared on the service was at 95 million, and given the rate of growth, they expected to pass 100 million shortly. Well, they missed pointing out that milestone, but today, not even …"/> <meta property="og:image" content="https://web.archive.org/web/20191107125216im_/https://techcrunch.com/wp-content/uploads/2011/08/8174dc6269014fceb8577dfea2202aae_7.jpeg?w=400"/> <meta property="og:url" content="https://web.archive.org/web/20191107125216/http://social.techcrunch.com/2011/08/03/instagram-150-million/"/> <meta property="og:type" content="article"/> <meta name="description" content="This past June, we noted that Instagram hit a big milestone: 5 million users. At the time, the total number of photos shared on the service was at 95 million, and given the rate of growth, they expected to pass 100 million shortly. Well, they missed pointing out that milestone, but today, not even two months later, they're pointing out another one: 150 million photos. That's 150 million photos uploaded to Instagram in just the 9 months since the app launched. For comparison's sake, it took Flickr nearly two years to hit 100 million total photos on their service. Incredibly, Instagram is now seeing 1.3 million photos uploaded each day — that's a rate of 15 photos per second."/> <meta name="title" content="The Latest Crazy Instagram Stats: 150 Million Photos, 15 Per Second, 80% Filtered – TechCrunch"/> <meta name="twitter:card" content="summary_large_image"/> <meta name="twitter:site" content="@techcrunch"/> <meta name="twitter:title" content="The Latest Crazy Instagram Stats: 150 Million Photos, 15 Per Second, 80% Filtered – TechCrunch"/> <meta name="twitter:description" content="This past June, we noted that Instagram hit a big milestone: 5 million users. At the time, the total number of photos shared on the service was at 95 million, and given the rate of growth, they expected to pass 100 million shortly. Well, they missed pointing out that milestone, but today, not even two months later, they're pointing out another one: 150 million photos. That's 150 million photos uploaded to Instagram in just the 9 months since the app launched. For comparison's sake, it took Flickr nearly two years to hit 100 million total photos on their service. Incredibly, Instagram is now seeing 1.3 million photos uploaded each day — that's a rate of 15 photos per second."/> <meta name="twitter:image" content="https://web.archive.org/web/20191107125216im_/https://techcrunch.com/wp-content/uploads/2011/08/8174dc6269014fceb8577dfea2202aae_7.jpeg?w=400"/> <script type="text/javascript">var ajaxurl = "https://web.archive.org/web/20191107125216/https://techcrunch.com/wp-admin/admin-ajax.php"</script><link rel="amphtml" href="https://web.archive.org/web/20191107125216/https://techcrunch.com/2011/08/03/instagram-150-million/amp/"><link rel="icon" href="https://web.archive.org/web/20191107125216im_/https://techcrunch.com/wp-content/uploads/2015/02/cropped-cropped-favicon-gradient.png?w=32" sizes="32x32"/> <link rel="icon" href="https://web.archive.org/web/20191107125216im_/https://techcrunch.com/wp-content/uploads/2015/02/cropped-cropped-favicon-gradient.png?w=192" sizes="192x192"/> <link rel="apple-touch-icon-precomposed" href="https://web.archive.org/web/20191107125216im_/https://techcrunch.com/wp-content/uploads/2015/02/cropped-cropped-favicon-gradient.png?w=180"/> <meta name="msapplication-TileImage" content="https://techcrunch.com/wp-content/uploads/2015/02/cropped-cropped-favicon-gradient.png?w=270"/> <script type="text/javascript" src="https://web.archive.org/web/20191107125216js_/https://s.aolcdn.com/ads/adsWrapper.js?tc_ver=20191107"></script> <script type="text/javascript"> try{adsEnableSandbox();}catch(e){} </script> </head> <body class=""> <div id="root"> <div> <div class="content"> <article class="article-container article--post "> <header class="article__header "> <div class="article__title-wrapper"> <h1 class="article__title">The Latest Crazy Instagram Stats: 150 Million Photos, 15 Per Second, 80% Filtered</h1> </div> <div class="article__byline-wrapper"> <div class="article__byline"> <a href="https://web.archive.org/web/20191107125216/https://techcrunch.com/author/mg-siegler/"> MG Siegler </a> <span class="article__byline__meta"> <a href="https://web.archive.org/web/20191107125216/https://twitter.com/mgsiegler">@mgsiegler</a> <span class="text--green"> / </span> 8 years </span> </div> </div> <div class="article__featured-image-wrapper breakout"> <img src="https://web.archive.org/web/20191107125216im_/https://techcrunch.com/wp-content/uploads/2011/08/8174dc6269014fceb8577dfea2202aae_7.jpeg?w=400" class="article__featured-image"/> </div> </header> <div class="article-content"> <p id="speakable-summary">This past June, we noted that <a class="crunchbase-link" href="https://web.archive.org/web/20191107125216/https://crunchbase.com/organization/instagram" target="_blank" data-type="organization" data-entity="instagram">Instagram <span class="crunchbase-tooltip-indicator"></span></a> hit a big milestone: <a href="https://web.archive.org/web/20191107125216/https://beta.techcrunch.com/2011/06/13/instagram-five-million-users/">5 million users</a>. At the time, the total number of photos shared on the service was at 95 million, and given the rate of growth, they expected to pass 100 million shortly. Well, they missed pointing out that milestone, but today, not even two months later, they’re pointing out another one: 150 million photos.</p> <p>That’s 150 million photos uploaded to Instagram in just the 9 months since the app launched. For comparison’s sake, it took <a class="crunchbase-link" href="https://web.archive.org/web/20191107125216/https://crunchbase.com/organization/flickr" target="_blank" data-type="organization" data-entity="flickr">Flickr <span class="crunchbase-tooltip-indicator"></span></a> nearly <em>two years</em> to hit <a href="https://web.archive.org/web/20191107125216/http://blog.flickr.net/2006/02/15/100000000th/">100 million total photos</a> on their service. Incredibly, Instagram is now seeing 1.3 million photos uploaded each day — that’s a rate of 15 photos per second.</p> <p>The service is now well past 7 million users, Instagram co-founder <a href="https://web.archive.org/web/20191107125216/http://www.crunchbase.com/person/kevin-systrom">Kevin Systrom</a> tells us. Again, that’s up over 2 million in under 2 months. Without any sort of strategic promotions, they’re grown to become a mainstay in the top 25 free app in Apple’s App Store.</p> <p>Yes, Flickr may now be <a href="https://web.archive.org/web/20191107125216/https://beta.techcrunch.com/2010/09/18/flickr-5-billionth-photo/">well past 5 billion photos</a>, and Facebook can see <a href="https://web.archive.org/web/20191107125216/https://beta.techcrunch.com/2011/01/03/facebook-users-uploaded-a-record-750-million-photos-over-new-years/">750 million photos uploaded</a> in one crazy weekend, but remember that Instagram is still only available on one platform: iOS. Every single one of those 150 million photos has been uploaded from an iPhone (and to a much lesser extent, iPod touches and iPads). You can’t yet use Instagram from any other devices, and you can’t even upload photos from your computer. And while <a href="https://web.archive.org/web/20191107125216/https://beta.techcrunch.com/2011/07/29/with-7m-users-in-his-pocket-kevin-systrom-says-the-biggest-opportunities-for-instagram-are-on-mobile/">Android support will come</a>, the experience is going to remain predominantly a mobile one, Systrom says.</p> <p>One more crazy stat: Systrom says that of the 150 million photos, 80 percent have had filters applied to them. And of the remaining 20 percent, plenty of those originate from other iPhone camera apps with their own filters.</p> <p>Oh, and don’t forget <a href="https://web.archive.org/web/20191107125216/https://beta.techcrunch.com/2011/07/21/biebergram/">Bieber</a>.</p> <p>Above, find the 150 millionth photo from user janefot.</p> </div> <footer class="article-footer"> </footer> </article> </div> </div> </div> <noscript style="display:none;"> <img height="1" width="1" alt="" src="https://web.archive.org/web/20191107125216im_/https://www.facebook.com/tr?id=1447508128842484&ev=PageView&noscript=1"/> </noscript> <script type="text/javascript"> // Configure the PARSELY window global to disable auto-tracking. // Must load before the Parse.ly script itself. window.PARSELY = { autotrack: false, onload: this.onload, }; </script> <script id="parsely-cfg" data-parsely-site="techcrunch.com" src="//web.archive.org/web/20191107125216js_/http://d1z2jf7jlzjs58.cloudfront.net/keys/techcrunch.com/p.js?tc_ver=20191107"></script> <script type="application/javascript">(function(w,d,t,r,u){w[u]=w[u]||[];w[u].push({'projectId':'10000','properties':{'pixelId':'428726','qstrings': { 'et': 'custom','ea': 'page view','product_id': window.location.pathname,'site': 'techcrunch' },}});var s=d.createElement(t);s.src=r;s.async=true;s.onload=s.onreadystatechange=function(){var y,rs=this.readyState,c=w[u];if(rs&&rs!="complete"&&rs!="loaded"){return}try{y=YAHOO.ywa.I13N.fireBeacon;w[u]=[];w[u].push=function(p){y([p])};y(c)}catch(e){}};var scr=d.getElementsByTagName(t)[0],par=scr.parentNode;par.insertBefore(s,scr)})(window,document,"script","https://web.archive.org/web/20191107125216/https://s.yimg.com/wi/ytc.js","dotq"); </script>  <script type="application/ld+json"> {"@context":"https:\/\/web.archive.org\/web\/20191107125216\/http:\/\/schema.org","publisher":{"@type":"Organization","name":"TechCrunch","logo":{"@type":"imageObject","url":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/techcrunch.com\/wp-content\/themes\/techcrunch-2017\/images\/logo-json-ld.png","width":"600","height":"60"}},"@type":"NewsArticle","mainEntityOfPage":{"@type":"WebPage","@id":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/techcrunch.com\/2011\/08\/03\/instagram-150-million\/"},"headline":"The Latest Crazy Instagram Stats: 150 Million Photos, 15 Per Second, 80% Filtered","image":{"@type":"ImageObject","url":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/techcrunch.com\/wp-content\/uploads\/2011\/08\/8174dc6269014fceb8577dfea2202aae_7.jpeg?w=612","width":612,"height":612},"datePublished":"2011-08-03T18:59:24+00:00","dateModified":"2011-08-03T20:26:42+00:00","author":[{"@type":"Person","name":"MG Siegler"}],"description":"This past June, we noted that Instagram hit a big milestone: <a href="https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/beta.techcrunch.com\/2011\/06\/13\/instagram-five-million-users\/">5 million users<\/a>. 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400;\">A rapidly swelling pool of new startups is taking aim at the<\/span> large incumbent institutions,<span style=\"font-size: 1.125rem; letter-spacing: -0.1px;\"> complex processes and outdated unfriendly interfaces that mar <span style=\"font-weight: 400;\">billion dollar<\/span> financial services verticals<\/span><span style=\"font-weight: 400;\">, <\/span><span style=\"font-size: 1.125rem; letter-spacing: -0.1px;\">such as insurtech, consumer lending, personal finance, or otherwise.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-size: 1.125rem; letter-spacing: -0.1px;\"><span style=\"font-weight: 400;\">In just the <a href=\"https:\/\/techcrunch.com\/2019\/07\/23\/embedded-finance-or-why-fintech-mega-vc-rounds-have-become-so-common\/\">past summer<\/a>, the startup community saw<\/span><\/span><span style=\"font-size: 1.125rem; letter-spacing: -0.1px;\"> a multitude of hundred-million dollar fintech fundraises. <\/span><span style=\"font-size: 1.125rem; letter-spacing: -0.1px;\">In 2018, fintech companies were the source of close to 1,300 venture deals worth over $15 billion in North America and Europe alone <\/span><a style=\"font-size: 1.125rem; letter-spacing: -0.1px; background-color: #ffffff;\" href=\"https:\/\/files.pitchbook.com\/website\/files\/pdf\/PitchBook_1Q_2019_Emerging_Tech_Research_Fintech.pdf\">according to data from Pitchbook<\/a><span style=\"font-size: 1.125rem; letter-spacing: -0.1px;\">. Over the same period, KPMG <a href=\"https:\/\/home.kpmg\/xx\/en\/home\/insights\/2019\/01\/pulse-of-fintech-h2-2018.html\">estimates<\/a> that over $52 billion in investment pour into fintech initiatives globally.\u00a0<\/span><\/p>\n<p>With the non-stop stream of venture capital flowing into the never-ending list of spaces that fall under the ‘fintech’ umbrella, we asked 12 leading fintech VCs who work at firms that span early to growth stages to share where they see the most opportunity and how they see the market evolving over the long-term.<\/p>\n<ul>\n<li>Charles Birnbaum, Partner at <a href=\"https:\/\/www.bvp.com\/team\/charles-birnbaum\/\">Bessemer Venture Partners<\/a><\/li>\n<li>Ian Sigalow, Co-founder & Partner at <a href=\"https:\/\/www.greycroft.com\/team\/ian-sigalow\/\">Greycroft<\/a><\/li>\n<li>Matt Harris, Partner at <a href=\"https:\/\/www.baincapitalventures.com\/team\/matth\/\">Bain Capital Ventures<\/a><\/li>\n<li>Angela Strange, General Partner at <a href=\"https:\/\/a16z.com\/author\/angela-strange\/\">Andreessen Horowitz<\/a>.<\/li>\n<li>Adam Valkin, Managing Director at <a href=\"https:\/\/www.generalcatalyst.com\/team\/adam-valkin\/\">General Catalyst<\/a><\/li>\n<li>Rob Moffat, Partner at <a href=\"https:\/\/www.balderton.com\/team\/rob-moffat\/\">Balderton Capital<\/a><\/li>\n<li>Brendan Dickinson, Partner at <a href=\"https:\/\/www.canaan.com\/team\/brendan-dickinson\">Canaan Partners<\/a><\/li>\n<li>Manuel Silva, Partner at <a href=\"https:\/\/santanderinnoventures.com\/team\/manuel-silva\/\">Santander InnoVentures<\/a><\/li>\n<li>Ruth Foxe Blader, Managing Director at <a href=\"https:\/\/www.anthemis.com\/people\/ruth-foxe-blader\/\">Anthemis<\/a><\/li>\n<li>Sean Park, Chief Investment Officer at <a href=\"https:\/\/www.anthemis.com\/people\/sean-park\/\">Anthemis<\/a><\/li>\n<li>Amol Helekar, Principal at <a href=\"https:\/\/www.tcv.com\/team\/amol-helekar\/\">TCV<\/a><\/li>\n<li>Jim Robinson, General Partner at <a href=\"http:\/\/www.rre.com\/jim-robinson\">RRE Ventures<\/a><\/li>\n<\/ul>\n<p>The participants touched on a number of key trends in the space, including rapid innovation in fintech infrastructure, fintech companies embedding themselves in specific verticals and platforms, rebundling and unbundling of financial services offerings, the rise of challenger banks and the state of fintech valuations into 2020.<\/p>\n<h2>Charles Birnbaum, Partner, Bessemer Venture Partners<\/h2>\n<blockquote><p>The great ‘rebundling’ of fintech innovation is in full swing. The emerging consumer leaders in fintech \u2014 Chime, SoFi, Robinhood, Credit Karma, and Bessemer portfolio company Betterment \u2014 are moving quickly to increase their share of wallet with their valuable customers and become a one-stop-shop for people\u2019s financial lives.<\/p>\n<p>In 2020, we anticipate continued entrepreneurial activity and investor enthusiasm around the infrastructure and middleware layers within the fintech ecosystem that are enabling further rebundling and a rapid convergence of product themes and business models across the consumer fintech landscape.<\/p>\n<p>Many players now look like potential challenger bank models more akin to what we have seen unfold in Europe the past few years. Within consumer fintech, we at Bessemer are more focused on demographically-specific product offerings that tap into underserved themes, whether that be <a href=\"https:\/\/www.bvp.com\/atlas\/fintech-for-the-aging\">the financial problems facing the aging population in the US<\/a> or new models to serve the underbanked or underserved population of consumers and small businesses.<\/p><\/blockquote>\n<h2>Ian Sigalow, Co-founder & Partner, Greycroft<\/h2>\n<p><strong>What trends are you most excited in fintech from an investing perspective?\u00a0<\/strong><\/p>\n<blockquote><p>I suspect that many enterprise software companies become fintech companies over time \u2014 collecting payments on behalf of customers and growing revenues as your customers grow. We have seen this trend in many industries over the past few years. Business owners generally prefer a model that moves IT expenditures from Operating Expenses into Cost of Goods Sold, because they can increase prices and pass their entire budget onto the customer.<\/p>\n<p>On the consumer side, we have already made investments in branchless banking, insurance (auto, home, health, workers comp), cross-border payments, alternative investments, loyalty cards\/services, and roboadvisor services. The companies we funded are already a few years old, and I think we will have some interesting follow-on activity there over the next few years. We have been picking spots where we think we have an unfair competitive advantage.<\/p>\n<p>Our fintech portfolio is also more global than other sectors we invest in. This is because there are opportunities to achieve billion dollar outcomes in fintech, even in countries that are much smaller than the United States. That is not true in many other sectors.<\/p>\n<p>We have also seen trends emerge in the US and move abroad. As an example we seeded Flutterwave, which is similar to Stripe, and they have expanded across Africa. We were also the lead investor in Yeahka, which is similar to Square in China. These products are heavily localized \u2014tin for instance Yeahka is the largest processor of QR code payments in the world, but QR code payments are not popular in the US yet.<\/p><\/blockquote>\n<p><strong>How much time are you spending on fintech right now? Is the market under-heated, over-heated, or just right?<\/strong><\/p>\n<blockquote><p>Fintech is about a quarter of my time right now. We continue to see interesting new ideas and the valuations have been more or less consistent over time. The broader market doesn\u2019t impact us very much because we tend to have a 10 year holding period.<\/p><\/blockquote>\n<p><strong>Are there startups that you wish you would see in the industry but don\u2019t?<\/strong><\/p>\n<p><div class=\"extra-crunch-offer-container\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Over the past several years, ‘fintech’ has quietly become the unsung darling of venture. A rapidly swelling pool of new startups is taking aim at the large incumbent institutions, complex processes and outdated unfriendly interfaces that mar billion dollar financial services verticals, such as insurtech, consumer lending, personal finance, or otherwise.\u00a0\u00a0 In just the past 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is entering the ads business"},"content":{"rendered":"<p id=\"speakable-summary\"><span class=\"featured__span-first-words\">Uber will become<\/span> an ad platform, selling space inside its Eats app to restaurants hoping to lure in more food delivery orders. A recent <a href=\"https:\/\/www.uber.com\/global\/en\/careers\/list\/56362\/\">Uber job listing<\/a> spotted by TechCrunch seeks an <a class=\"crunchbase-link\" href=\"https:\/\/crunchbase.com\/organization\/uber\" target=\"_blank\" data-type=\"organization\" data-entity=\"uber\">Uber <span class=\"crunchbase-tooltip-indicator\"><\/span><\/a> Eats Ads Lead “to lead the team and efforts responsible for creating a new ads business that enables eaters to discover new foods and restaurants to grow their customer base.”<\/p>\n<p>An Uber spokesperson confirmed the company would be entering the ads business, telling TechCrunch, “We are exploring relevant ads in Eats.” Selling ads could help it improve margins on Eats, where it only takes 10.7% of gross bookings as adjusted net revenue because it pays out so much to restaurants and drivers.<\/p>\n<p><img class=\"breakout aligncenter size-full wp-image-1908872\" src=\"https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/Uber-Eats-Ads-Lead-Job-Listing.png\" alt=\"\" width=\"1024\" height=\"545\" srcset=\"https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/Uber-Eats-Ads-Lead-Job-Listing.png 1468w, https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/Uber-Eats-Ads-Lead-Job-Listing.png?resize=150,80 150w, https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/Uber-Eats-Ads-Lead-Job-Listing.png?resize=300,160 300w, https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/Uber-Eats-Ads-Lead-Job-Listing.png?resize=768,409 768w, https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/Uber-Eats-Ads-Lead-Job-Listing.png?resize=680,362 680w, https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/Uber-Eats-Ads-Lead-Job-Listing.png?resize=50,27 50w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p>The fresh opportunity in ads comes at a critical time when Uber is desperate to show its future potential in the face of a sagging share price that closed at $28.02 yesterday, down 40% from a high of $46.38 in June. Today, Uber’s post-IPO stock lock-up expires and early investors are able to sell their shares, putting newfound pressure on its stock.<\/p>\n<p>TechCrunch was the first to discover a prototype of <a href=\"https:\/\/techcrunch.com\/2018\/12\/04\/uber-eats-specials\/\">Eats ads in December, called Specials, where restaurants could get featured placement<\/a> in the app in exchange for offering a discount. This demonstrated Uber’s ability to steer hungry users to order from particular restaurants.<\/p>\n<p><img class=\"breakout aligncenter size-full wp-image-1908867\" src=\"https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/Uber-Eats-Special-Offers.png\" alt=\"\" width=\"1024\" height=\"1246\" srcset=\"https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/Uber-Eats-Special-Offers.png 1125w, https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/Uber-Eats-Special-Offers.png?resize=123,150 123w, https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/Uber-Eats-Special-Offers.png?resize=247,300 247w, https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/Uber-Eats-Special-Offers.png?resize=768,935 768w, https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/Uber-Eats-Special-Offers.png?resize=559,680 559w, https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/Uber-Eats-Special-Offers.png?resize=41,50 41w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p>I followed up with Uber\u2019s senior director and head of Eats product, Stephen Chau, who hinted at the company’s <a href=\"https:\/\/techcrunch.com\/2018\/12\/10\/uber-ads\/\">aspiration in the ads business<\/a>. \u201cThere\u2019s a bunch of different ways we can work with restaurants over time. If we have all the restaurants on the marketplace and we give them tools to help them grow, then this will be a very efficient marketplace. They\u2019re going to be spending those ad dollars somewhere,\u201d Chau told me. We’ve been checking on the company’s progress in ads ever since.<\/p>\n<p>As we predicted, now instead of just a quid pro quo, where Uber exchanges added visibility to restaurants willing to offer discounts that could keep users loyal to <a class=\"crunchbase-link\" href=\"https:\/\/crunchbase.com\/organization\/uber-eats\" target=\"_blank\" data-type=\"organization\" data-entity=\"uber-eats\">Uber Eats, <span class=\"crunchbase-tooltip-indicator\"><\/span><\/a> it plans to formally sell ads.<\/p>\n<div class=\"embed breakout\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"LkcBXV6MSo\"><p><a href=\"https:\/\/techcrunch.com\/2018\/12\/10\/uber-ads\/\">How Uber will become an ad company, starting with Eats Pool<\/a><\/p><\/blockquote>\n<p><iframe title=\"“How Uber will become an ad company, starting with Eats Pool” — TechCrunch\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" src=\"https:\/\/techcrunch.com\/2018\/12\/10\/uber-ads\/embed\/#?secret=LkcBXV6MSo\" data-secret=\"LkcBXV6MSo\" width=\"800\" height=\"450\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/div>\n<p>“As this is a brand new space for Uber,” the Toronto-based Eats Ads Lead “will be responsible for defining the vision for this new product area and determining where to start building.”<\/p>\n<p>The job listing also notes whoever takes the role will “Help formulate our business, product and go-to-market strategy for ads” and “Creatively experiment and quickly iterate on early tests.” Signaling global ambitions for Eats ads, the Lead will “Customize and scale this offering across the world.”<\/p>\n<p><img class=\"vertical alignright size-full wp-image-1908874\" src=\"https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/MakingAnOrder_30fps.gif\" alt=\"\" width=\"314\" height=\"680\" \/>The effort is separate from Uber’s own marketing efforts that see it spend more than $1 billion per year to recruit riders, drivers and Eats customers. Uber will start selling the ads, not just buying them.<\/p>\n<p>The potential for Eats ads stems from Uber’s place as a destination for choosing what to eat, not just ordering it. Wherever there is discovery, there are opportunities for paid discovery. And as Uber focuses on <a href=\"https:\/\/techcrunch.com\/2019\/06\/04\/uber-eats-uber-eats\/\">cross-promoting Eats inside its main ride-hailing app<\/a>, it could suck in more users that are open to suggestions that restaurants pay to provide.<\/p>\n<p>We don’t have details on exactly how Uber’s ads will look. However, you could imagine them appearing on the home page, the browse section or even in search results for certain cuisines or restaurants. Restaurants hoping to boost orders could pay to appear to users who are hungry but don’t know what they want to eat, or to appear before competitors in the same food style.<\/p>\n<p><img class=\"breakout aligncenter size-full wp-image-1908871\" src=\"https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/Uber-Eats-Ads-Placement.png\" alt=\"\" width=\"1024\" height=\"694\" srcset=\"https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/Uber-Eats-Ads-Placement.png 1830w, https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/Uber-Eats-Ads-Placement.png?resize=150,102 150w, https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/Uber-Eats-Ads-Placement.png?resize=300,203 300w, https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/Uber-Eats-Ads-Placement.png?resize=768,521 768w, https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/Uber-Eats-Ads-Placement.png?resize=680,461 680w, https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/Uber-Eats-Ads-Placement.png?resize=50,34 50w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p>Amazon successfully navigated a similar expansion from marketplace to ad platform; eMarketer expects Amazon’s U.S. ads business will grow 33% this year to reach $9.85 billion, and claim 7.6% of the total U.S. ad market, which makes it the biggest search ad player behind Google.<\/p>\n<p>Uber could use any revenue it can get. This quarter <a href=\"https:\/\/techcrunch.com\/2019\/11\/04\/ubers-losses-top-1-billion-trumping-better-than-expected-revenues\/\">the company lost $1 billion<\/a>, with $316 million of that loss coming from Eats. But Eats’ revenue grew 64% year-over-year, showing it’s increasingly popular, and could command enough user attention to make advertising lucrative.<\/p>\n<p>Ads also could serve as a wedge for Uber to move deeper into business intelligence services for restaurants. It could apply its data on food delivery demand to help kitchens to optimize prices, allocate staff and improve menus.<\/p>\n<p>To save its share price, Uber’s best bet is to find new streams of cash it doesn’t have to share with drivers or restaurants. It may still be years until self-driving vehicles arrive to rescue Uber from its tremendous costs.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Uber will become an ad platform, selling space inside its Eats app to restaurants hoping to lure in more food delivery orders. A recent Uber job listing spotted by TechCrunch seeks an Uber Eats Ads Lead “to lead the team and efforts responsible for creating a new ads business that enables eaters to discover new […]<\/p>\n","protected":false},"author":1603003,"featured_media":1908862,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"outcome":"","status":"","crunchbase_tag":0,"amp_status":"","relegenceEntities":[],"relegenceSubjects":[],"jetpack_publicize_message":"Uber is entering the ads business https:\/\/tcrn.ch\/2CeWcEL by @joshconstine"},"categories":[449557068,449557102,11160,447971118,576595954,576597428,17396,2401],"tags":[217609,576619754,208754904,576618948],"crunchbase_tag":[],"tc_stories_tax":[],"tc_event":[],"jetpack_featured_media_url":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/Uber-Ads.png","jetpack_publicize_connections":[],"shortlink":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/tcrn.ch\/2CeWcEL","rapidData":{"pt":"","pct":""},"featured":true,"subtitle":"A new revenue stream it won't split with drivers","fundingRound":false,"seoTitle":"","seoDescription":"","premiumContent":false,"premiumCutoffPercent":1,"tc_cb_mapping":[{"slug":"uber","cb_name":"Uber","cb_slug":"uber-organization","cb_link":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/crunchbase.com\/organization\/uber"},{"slug":"uber-eats","cb_name":"Uber 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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.<\/p>\n\n<p>Previously, Constine was the Lead Writer of Inside Facebook through its acquisition by WebMediaBrands, covering everything about the social network.<\/p>\n\n<p>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.<\/p>\n\n<p>Constine also received a Bachelor of Arts degree with honors from Stanford University in 2007, with a concentration in Social Psychology & Interpersonal Processes.<\/p>\n\n<p>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.<\/p>\n\n<p>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.<\/p>\n\n<p>[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 fianc\u00e9e 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.]<\/p>","cbAvatar":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/crunchbase-production-res.cloudinary.com\/image\/upload\/v1415412437\/xje35licfau9iewxnf44.png","twitter":"joshconstine","_links":{"self":[{"href":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/techcrunch.com\/wp-json\/tc\/v1\/users\/1603003"}],"collection":[{"href":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/techcrunch.com\/wp-json\/tc\/v1\/users"}]}}],"author":[{"id":1603003,"name":"Josh Constine","url":"","description":"","link":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/techcrunch.com\/author\/josh-constine\/","slug":"josh-constine","avatar_urls":{"24":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/secure.gravatar.com\/avatar\/fd3b857e7f0024396cdbd36c4c102a5d?s=24&d=identicon&r=g","48":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/secure.gravatar.com\/avatar\/fd3b857e7f0024396cdbd36c4c102a5d?s=48&d=identicon&r=g","96":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/secure.gravatar.com\/avatar\/fd3b857e7f0024396cdbd36c4c102a5d?s=96&d=identicon&r=g"},"links":{"homepage":"https:\/\/web.archive.org\/web\/20191107125216\/http:\/\/www.joshconstine.com","facebook":"https:\/\/web.archive.org\/web\/20191107125216\/http:\/\/www.facebook.com\/JoshConstine","twitter":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/twitter.com\/joshconstine","linkedin":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/www.linkedin.com\/in\/joshconstine\/","crunchbase":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/www.crunchbase.com\/person\/josh-constine"},"position":"Editor-At-Large","cbDescription":"<p>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.<\/p>\n\n<p>Previously, Constine was the Lead Writer of Inside Facebook through its acquisition by WebMediaBrands, covering everything about the social network.<\/p>\n\n<p>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.<\/p>\n\n<p>Constine also received a Bachelor of Arts degree with honors from Stanford University in 2007, with a concentration in Social Psychology & Interpersonal Processes.<\/p>\n\n<p>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.<\/p>\n\n<p>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.<\/p>\n\n<p>[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 fianc\u00e9e 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. 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names Adam Blitzer as the new CEO of Marketing Cloud"},"content":{"rendered":"<p id=\"speakable-summary\"><a class=\"crunchbase-link\" href=\"https:\/\/crunchbase.com\/organization\/salesforce\" target=\"_blank\" data-type=\"organization\" data-entity=\"salesforce\">Salesforce <span class=\"crunchbase-tooltip-indicator\"><\/span><\/a> is announcing that it has appointed Adam Blitzer as the new CEO of Marketing Cloud.<\/p>\n<p>Marketing Cloud is Salesforce’s suite of digital marketing tools, built around <a href=\"https:\/\/techcrunch.com\/2013\/06\/04\/with-exacttarget-acquisition-salesforce-com-has-spent-close-to-3-5-billion-to-get-into-the-chief-marketing-officers-suite\/\">the company’s acquisition of ExactTarget<\/a> back in 2013. That acquisition is what brought Blitzer to Salesforce \u2014 he co-founded marketing automation startup Pardot, which was <a href=\"https:\/\/techcrunch.com\/2012\/10\/12\/exacttarget-buys-pardot-for-95-5m-and-igodigital-for-21m-as-marketing-solutions-consolidate\/\">acquired by ExactTarget<\/a> the year before the Salesforce deal.<\/p>\n<p>Blitzer recalled the insanity of going through the Pardot acquisition while also having a one-month-old baby: “I was traveling all the time … but I had a great, built-in excuse that I was never going to go through one of these again. Ten seconds later, we sold ExactTarget to Salesforce.”<\/p>\n<p>Since then, Blitzer has overseen Salesforce’s Sales Cloud and Service Cloud before taking over as Marketing Cloud CEO last month. (The previous Marketing Cloud CEO Bob Stutz is <a href=\"https:\/\/techcrunch.com\/2019\/10\/21\/veteran-enterprise-exec-bob-stutz-is-heading-back-to-sap\/\">now at SAP<\/a>.) Salesforce is making the official announcement today, ahead of its Dreamforce conference in a couple of weeks.<\/p>\n<p>It sounds like Blitzer’s immediate focus is\u00a0<a href=\"https:\/\/www.salesforce.com\/company\/news-press\/press-releases\/2019\/06\/191806-zz\/\">the customer data platform<\/a> that Salesforce plans to launch next year, designed to help marketers unify their customer data. He told me the CDP is a “key pillar” of the Marketing Cloud strategy, particularly in a fragmented landscape where a marketer is confronted with “7,000 logos.”<\/p>\n<p>He added, “We don\u2019t have to do 7,000 things \u2014 we can be the hub of marketing for our customers,” creating the “single source of truth” for customer data that’s used across a variety of products.<\/p>\n<p>Blitzer also said he sees an opportunity to grow the use of Salesforce’s Einstein AI in digital marketing. And while the company’s biggest strength has been in business-to-business marketing, Blitzer said he’ll be working on “bringing that together with all our [consumer marketing]-focused solutions” \u2014 particularly since “many, many consumer goods companies have traditionally been B2B, sold through distributors” but are now facing competition from direct-to-consumer brands.<\/p>\n<p>Asked whether he’s looking to expand the Marketing Cloud through more acquisitions, Blitzer deflected, saying that’s a question for the acquisitions team \u2014 his role is focused on “organic” growth of the products that Salesforce already owns.<\/p>\n<p>“One of the things I love in taking over this role is the adoption of multiple products by customers,” Blitzer said. “Probably in a distant past, it was see a nail, hit a nail \u2014 where they have an email marketing problem, I need an email marketing solution. Certainly, coming into this role, it’s [now] about owning the customer experience.”<\/p>\n<div class=\"embed breakout\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"v9cG6QQRSd\"><p><a href=\"https:\/\/techcrunch.com\/2018\/12\/05\/putting-the-band-back-together-exacttarget-execs-reunite-to-launch-metacx\/\">Putting the band back together, ExactTarget execs reunite to launch MetaCX<\/a><\/p><\/blockquote>\n<p><iframe title=\"“Putting the band back together, ExactTarget execs reunite to launch MetaCX” — TechCrunch\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" src=\"https:\/\/techcrunch.com\/2018\/12\/05\/putting-the-band-back-together-exacttarget-execs-reunite-to-launch-metacx\/embed\/#?secret=v9cG6QQRSd\" data-secret=\"v9cG6QQRSd\" width=\"800\" height=\"450\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Salesforce is announcing that it has appointed Adam Blitzer as the new CEO of Marketing Cloud. Marketing Cloud is Salesforce’s suite of digital marketing tools, built around the company’s acquisition of ExactTarget back in 2013. That acquisition is what brought Blitzer to Salesforce \u2014 he co-founded marketing automation startup Pardot, which was acquired by ExactTarget […]<\/p>\n","protected":false},"author":31035538,"featured_media":1908898,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"outcome":"","status":"","crunchbase_tag":0,"amp_status":"","relegenceEntities":[],"relegenceSubjects":[],"jetpack_publicize_message":"Salesforce names Adam Blitzer as the new CEO of Marketing Cloud https:\/\/tcrn.ch\/2NkdGWy by 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He lives in New York City.<\/p>","cbAvatar":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/crunchbase-production-res.cloudinary.com\/image\/upload\/vlqk5j1ukg37id0pflay","twitter":"anthonyha","_links":{"self":[{"href":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/techcrunch.com\/wp-json\/tc\/v1\/users\/31035538"}],"collection":[{"href":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/techcrunch.com\/wp-json\/tc\/v1\/users"}]}}],"author":[{"id":31035538,"name":"Anthony Ha","url":"","description":"","link":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/techcrunch.com\/author\/anthony-ha\/","slug":"anthony-ha","avatar_urls":{"24":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/secure.gravatar.com\/avatar\/72b358648f4587cc2a11895c32b8e979?s=24&d=identicon&r=g","48":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/secure.gravatar.com\/avatar\/72b358648f4587cc2a11895c32b8e979?s=48&d=identicon&r=g","96":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/secure.gravatar.com\/avatar\/72b358648f4587cc2a11895c32b8e979?s=96&d=identicon&r=g"},"links":{"facebook":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/www.facebook.com\/anthonyha","twitter":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/twitter.com\/anthonyha","linkedin":"https:\/\/web.archive.org\/web\/20191107125216\/http:\/\/www.linkedin.com\/in\/anthonyha","crunchbase":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/www.crunchbase.com\/person\/anthony-ha"},"position":"Senior Writer","cbDescription":"<p>Anthony Ha is a senior writer at TechCrunch, where he covers media and advertising and co-hosts the Original Content podcast. 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raises US$172M at $1B+ valuation for AI-based enterprise search and personalization"},"content":{"rendered":"<p id=\"speakable-summary\">Search and personalization services continue to be a major area of investment among enterprises, both to make their products and services more discoverable (and used) by customers, and to help their own workers get their jobs done, with the market estimated to be worth some $100 billion annually. Today, one of the big startups building services in this area raised a large round of growth funding to continue tapping that opportunity.<\/p>\n<p><a href=\"http:\/\/coveo.com\">Coveo<\/a>, a Canadian company that builds search and personalization services powered by artificial intelligence — used by its enterprise customers by way of cloud-based, software-as-a-service — has closed a C$227 million ($172 million in U.S. dollars) round, which CEO Louis Tetu tells me values the company at “well above” $1 billion, “Canadian or U.S. dollars.”<\/p>\n<p>Specifically, the equity stake of this round is 15.5%, equating to a valuation of $1.46 billion Canadian dollars, or $1.1 billion in U.S. dollars.<\/p>\n<p>The round is being led by Omers Capital Private Growth Equity Group, the investing arm of the Canadian pensions giant that makes large, later-stage bets (the company has been <a href=\"https:\/\/techcrunch.com\/2019\/10\/31\/crunchbase-raises-30m-more-to-double-down-on-its-ambition-to-be-a-linkedin-for-company-data\/\">stepping up the pace of investments lately<\/a>), with participation also from Evergreen Coast Capital, FSTQ and IQ Ventures. Evergreen led the company’s last round of $100 million in April 2018, and in total the company has now raised just over $402 million with this round.<\/p>\n<p>The valuation appears to be a huge leap in the context of <a class=\"crunchbase-link\" href=\"https:\/\/crunchbase.com\/organization\/coveo\" target=\"_blank\" data-type=\"organization\" data-entity=\"coveo\">Coveo’s <span class=\"crunchbase-tooltip-indicator\"><\/span><\/a> funding history: in that last round, it had a post-money valuation of about $370 million, according to <a href=\"https:\/\/my.pitchbook.com\/profile\/53735-05\/company\/profile#comparisons\">PitchBook data<\/a>.<\/p>\n<p>Part of the reason for that is because of Coveo’s business trajectory, and part is due to the heat of the overall market.<\/p>\n<p>Coveo’s round is coming about two weeks after another company that builds enterprise search solutions, Algolia, <a href=\"https:\/\/techcrunch.com\/2019\/10\/15\/algolia-finds-110m-from-accel-and-salesforce-for-its-search-as-a-service-used-by-slack-twitch-and-8k-others\/\">raised $110 million<\/a>. The two aim at slightly different ends of the market, Tetu tells me, not directly competing in terms of target customers, and even services.<\/p>\n<p>“Algolia is in a different ZIP code,” he said. Good thing, too, if that’s the case: Salesforce — which is one of Coveo’s biggest partners and customers — was also a strategic investor in the Algolia round. Even if these two do not compete, there are plenty of others vying for the same end of the enterprise search and personalization continuum — they include Google, Microsoft, Elastic, IBM, Lucidworks and <a href=\"https:\/\/www.gartner.com\/reviews\/market\/insight-engines\/vendor\/coveo\/alternatives\">many more<\/a>. That, again, underscores the size of the market opportunity.<\/p>\n<p>In terms of Coveo’s own business, the company works with some 500 customers today and says SaaS subscription revenues grew more than 55% year-over-year this year. Five hundred may sound like a small number, but it covers a lot of very large enterprises spanning web-facing businesses, commerce-based organizations, service-facing companies and enterprise solutions.<\/p>\n<p>In addition to Salesforce, it includes Visa, Tableau (also Salesforce now!), Honeywell, a Fortune 50 healthcare company (whose name is not getting disclosed) and what Tetu described to me as an Amazon competitor that does $21 billion in sales annually but doesn’t want to be named.<\/p>\n<p>Coveo’s basic selling point is that the better discoverability and personalization that it provides helps its customers avoid as many call-center interactions (reducing operating expenditures), improves sales (boosting conversions and reducing cart abandonment) and helps companies themselves just work faster.<\/p>\n<p>Significantly, the area that Coveo works in is going through a noticeable shift these days.<\/p>\n<p>A swing toward stronger data protection and consumers’ preference for having more control over how their data is used and for what — spurred by high-profile revelations detailing how different organizations manipulated user data across social networking sites and other platforms to target people with sneaky political content and advertising to influence voting, subsequently cracking open the wasp nest to reveal just how much of our data is harvested and used all the time — has meant that there are at times fewer tools than there used to be to provide the kind of “discoverability” and “personalization” that companies like Coveo build for their clients.<\/p>\n<p>Tetu believes there is a way to deliver personalization without compromising how a person wants to exist in the digital world.<\/p>\n<p class=\"p1\">“The whole notion is to be able to control data but also have personalizaton in the future,” he said. But there are two dimensions to this, he added:<\/p>\n<p>“The continued and growing regulatory pressure around privacy [such as GDPR] is good, it’s the will of the people and legislation will go that way. The world is going cookie-less,” he said. “But we can’t ignore the arbitrage between privacy and utility. If I understand what you will do with my data and use it to provide more relevance, that can be excellent, too.”<\/p>\n<p>He calls himself an “Amazon addict” but points out that it highlights the two sides of the data coin: “Is it predatory or excellent in doing the job it does? I can’t decide on an answer. I think they are both.”<\/p>\n<p class=\"p1\">All the same, it’s working on ways around the “cookie-less” future. The company Coveo acquired in Milan earlier this year, Tetu said, “can do machine learning detection. In five clicks it can detect your propensity to buy and your interest. It means you can’t blame anyone for observing you.”<\/p>\n<p>So, while there are a lot of players out there chasing the same discoverability and personalization market, the attraction here is not just about a company doing it well, but looking to skate to where the puck is going (see what I did there, Canadian startup?).<\/p>\n<p>\u201cWe believe that Coveo is the market leader in leveraging data and AI to personalize at scale,\u201d said Mark Shulgan, managing director and head of Growth Equity at Omers, in a statement. \u201cCoveo fits our investment thesis precisely: an A-plus leadership team with deep expertise in enterprise SaaS, a Fortune 1000 customer base who deeply love the product, and a track record of high growth in a market worth over $100 billion. This makes Coveo a highly-coveted asset. We are glad to be partnering to scale this business.\u201d<\/p>\n<p>Alongside business development on its own steam — the company now has around 500 employees — Coveo is going to be using this funding for acquisitions. Tetu notes that Coveo still has a lot of money in the bank from previous rounds.<\/p>\n<p>“We are a real company with real positive economics,” he said. “This round is mostly to have dry powder to invest in a way that is commensurate in the AI space, and within commerce in particular.” To get the ball rolling on that, this past July, Coveo acquired Tooso, a specialist in AI-based digital commerce technology.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Search and personalization services continue to be a major area of investment among enterprises, both to make their products and services more discoverable (and used) by customers, and to help their own workers get their jobs done, with the market estimated to be worth some $100 billion annually. Today, one of the big startups building […]<\/p>\n","protected":false},"author":13119829,"featured_media":1315022,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"outcome":"","status":"","crunchbase_tag":0,"amp_status":"","relegenceEntities":[],"relegenceSubjects":[],"jetpack_publicize_message":"Coveo raises $227M at $1B+ valuation for AI-based enterprise search and personalization https:\/\/tcrn.ch\/2Cgy8Bh by 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first hires are the hardest"},"content":{"rendered":"<div class=\"article__contributor-byline-wrapper\">\n<div class=\"article__contributor-byline\">\n\t<div class=\"contributor-byline__contributor\">\n\t\t<div class=\"byline__author\">\n\t\t\t\t\t\t\t<span class=\"byline__author-name\">Tim Hsia & Neil Devani<\/span>\n\t\t\t\t\t\t<span class=\"byline__author-title\" style=\"display: block;\">Contributor<\/span>\n\t\t<\/div>\n\n\t\t\t\t<div class=\"contributor__twitter\">\n\t\t\t<a target=\"_blank\" href=\"https:\/\/twitter.com\/neildevani\">\n\t\t\t\t\t<svg class=\"icon icon--twitter icon--white\" viewBox=\"0 0 20 20\" version=\"1.1\" aria-labelledby=\"title\">\n\t\t<title>Share on Twitter<\/title>\n\t\t<path d=\"M20,4c-0.7,0.3-1.5,0.6-2.4,0.7c0.9-0.5,1.5-1.4,1.8-2.3c-0.8,0.5-1.7,0.8-2.6,1C16.1,2.5,15,2,13.8,2c-2.3,0-4.1,1.9-4.1,4.2c0,0.3,0,0.7,0.1,1C6.4,7,3.4,5.4,1.4,2.9C1,3.5,0.8,4.1,0.8,4.9c0,1.4,0.7,2.7,1.8,3.5C2,8.4,1.4,8.2,0.8,7.9v0.1c0,2,1.4,3.7,3.3,4.1c-0.4,0.1-0.7,0.2-1.1,0.2c-0.3,0-0.5,0-0.8-0.1c0.5,1.7,2,2.9,3.8,2.9c-1.4,1.1-3.2,2-5.1,2c-0.3,0-0.7,0-1-0.1c1.8,1.2,4,1.7,6.3,1.7c7.5,0,11.7-6.4,11.7-12V6.1C18.8,5.6,19.4,4.8,20,4z\"\/>\t<\/svg>\n\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t<div class=\"contributor-byline__bio\">\n\t\t<a href=\"https:\/\/www.linkedin.com\/in\/timhsia\">Tim Hsia<\/a> is the CEO of <a href=\"https:\/\/www.mediamobilize.com\/\">Media Mobilize<\/a> and a Venture Partner at <a href=\"https:\/\/www.dgincubation.co.jp\/en\/\">Digital Garage<\/a>. <a href=\"https:\/\/angel.co\/neil-devani\">Neil Devani<\/a> is an angel investor and venture capitalist focused on companies solving hard problems.\t<\/div>\n\t\n\t\t<div class=\"contributor-byline__more-articles\">\n\t\t<span class=\"more-articles-title\">More posts by this contributor<\/span>\n\t\t<ul class=\"more-articles-list\">\n\t\t\t\t\t\t<li><a href=\"https:\/\/techcrunch.com\/2019\/10\/17\/getting-press-for-your-startup-the-true-role-of-communications\/\">Getting press for your startup: the true role of communications<\/a><\/li>\n\t\t\t\t\t\t<li><a href=\"https:\/\/techcrunch.com\/2019\/08\/29\/the-operators-the-role-of-finance-in-tech-startups-with-duda-cfo-stephanie-hsiung-and-zeus-livings-head-of-finance-mark-kang\/\">‘The Operators’: Finance in startups with Duda CFO Stephanie Hsiung and Zeus Living’s Head of Finance Mark Kang<\/a><\/li>\n\t\t\t\t\t<\/ul>\n\t<\/div>\n\t<\/div>\n<\/div><p id=\"speakable-summary\"><span class=\"featured__span-first-words\">Welcome to this<\/span> edition of <\/span><a href=\"http:\/\/www.operators.co\/\"><span style=\"font-weight: 400;\">The Operators<\/span><\/a><span style=\"font-weight: 400;\">, a recurring Extra Crunch column, <\/span><a href=\"https:\/\/anchor.fm\/operators\"><span style=\"font-weight: 400;\">podcast<\/span><\/a><span style=\"font-weight: 400;\">\u00a0and <\/span><a href=\"https:\/\/www.youtube.com\/channel\/UCaRYx1K8CKeHEiWiv0mWf9w\"><span style=\"font-weight: 400;\">YouTube show<\/span><\/a><span style=\"font-weight: 400;\"> that brings you insights and information from inside of tech companies. Our guests are execs with operational experience at both fast-rising startups like Brex, Calm, DocSend and Zeus Living, along with more established companies like AirBnB, Facebook, Google and Uber. Here, they share strategies and tactics for building your first company and charting your career in tech.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In this episode, we\u2019re talking about hiring and recruiting:<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Why people take the risk of working at early-stage startups<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">When and how to work with recruiters<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">How to make your first hires<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">A company\u2019s first hires are often the hardest; money is usually too tight to pay competitive salaries, there\u2019s no recognizable brand or reputation yet and most people would prefer to work at a company their friends and family have heard of before. There\u2019s also fair presumption of risk and unviability \u2014 who wants to take a job that might not be around in a year?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Startup founders overcome these odds on a regular basis. To figure out how, we spoke with two experts:<\/span><\/p>\n<p><a href=\"https:\/\/www.linkedin.com\/in\/fsharghi\/\"><span style=\"font-weight: 400;\">Farah Sharghi-Dolatabadi<\/span><\/a><span style=\"font-weight: 400;\"> began her career as a software developer and financial advisor before moving into recruiting. She\u2019s been a recruiter at startups in addition to companies like Google and Lyft. She\u2019s currently a senior technical recruiter at Uber and an active career coach at HireClub.<\/span><\/p>\n<p><a href=\"https:\/\/www.linkedin.com\/in\/kellykinnard\/\"><span style=\"font-weight: 400;\">Kelly Kinnard<\/span><\/a><span style=\"font-weight: 400;\"> is Vice President of Talent at Battery Ventures, where she\u2019s worked with startups like Wag, Coupa, Fastly, and Gainsight. She also has experience at top recruiting firms and in executive search at Oracle.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Below is a synthesized summary of our conversation; check out <\/span><a href=\"http:\/\/www.operators.co\"><span style=\"font-weight: 400;\">The Operators<\/span><\/a><span style=\"font-weight: 400;\"> for the full episode.<\/span><\/p>\n<h2><b>Why people take the risk of working at early-stage startups<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Most early-stage startups fail. That shouldn\u2019t be news to anyone. Still, however unlikely big outcomes are, the possibility of being a part of the next Facebook or Uber is tempting, and taking a job at a brand new company may even rational on an expected value basis.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Sometimes it\u2019s not just the chance at a big financial outcome. We\u2019ve heard early-stage employees say they made their choice based for more intangible reasons, like having more autonomy in their work, seeking a less structured environment, working with a certain type or set of colleagues, wanting a sense of adventure or purpose and the opportunity for more rapid career progression.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It may not be possible for an early-stage startup to offer market-rate compensation, but they can personalize the opportunity for early employees. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">“Be creative and do things like cater to that individual and think about it on a case by case basis,” said Kinnard. “If that candidate really wants to work from home two days a week because they have a dog and you can’t allow dogs in the office, and they want to be able to walk their dog or go pick up their child from school after school, then try to customize things according to each individual.\u201d But don\u2019t forget that compensation still matters, as do market rates. According to Kinnard, \u201ccash is still king, and I think sometimes I see founders and I see CEOs be unrealistic about what they expect to be able to pay people. A part of what I do is provide them with competitive comp data so they can look at the data and [see] here’s what 3000 companies that we’ve surveyed have suggested the compensation ranges.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Creative problem-solving pays dividends in recruiting, just like in does with most other problems startups need to solve. Experienced recruiters can help companies figure out how to get creative, but how do you know if working a recruiter is right for you?<\/span><\/p>\n<div class=\"embed breakout\"><iframe title=\"E8: Recruiting Your First Hires by The Operators\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" src=\"https:\/\/anchor.fm\/operators\/embed\/episodes\/E8-Recruiting-Your-First-Hires-e8rbst#?secret=wTW41yYwWK\" data-secret=\"wTW41yYwWK\" height=\"102px\" width=\"400px\" frameborder=\"0\" scrolling=\"no\"><\/iframe><\/div>\n<p><span class=\"embed-youtube embed breakout embed--video\" style=\"text-align:center; display: block;\"><iframe class='youtube-player' type='text\/html' width='640' height='360' src='https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/www.youtube.com\/embed\/wJ2K6lv8QOI?version=3&rel=1&fs=1&autohide=2&showsearch=0&showinfo=1&iv_load_policy=1&wmode=transparent' allowfullscreen='true' style='border:0;'><\/iframe><\/span><\/p>\n<p> <\/p>\n<h2><b>When and how to work with recruiters<\/b><\/h2>\n<p><div class=\"extra-crunch-offer-container\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Money is usually too tight to pay competitive salaries, there\u2019s no recognizable brand or reputation yet and most people would prefer to work at a company their friends and family have heard of before. Who wants to take a job that might not be around in a year?<\/p>\n","protected":false},"author":133574325,"featured_media":1909150,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"outcome":"","status":"","crunchbase_tag":0,"amp_status":"","relegenceEntities":[],"relegenceSubjects":[],"jetpack_publicize_message":"The first hires are the hardest https:\/\/tcrn.ch\/2oTLTTv"},"categories":[25515,17396],"tags":[935707,576606174,50659,230106574,34082761,162808351,1022121,3766,217609,647948,576694396],"crunchbase_tag":[203150397],"tc_stories_tax":[],"tc_event":[],"jetpack_featured_media_url":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/GettyImages-1139785539.jpg","jetpack_publicize_connections":[],"shortlink":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/tcrn.ch\/2oTLTTv","rapidData":{"pt":"","pct":""},"featured":true,"subtitle":"What makes someone take the risk of 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","link":"https:\/\/web.archive.org\/web\/20191107125216\/https:\/\/techcrunch.com\/author\/tim-hsia-neil-devani\/","description":"<a href=\"https:\/\/www.linkedin.com\/in\/timhsia\">Tim Hsia<\/a> is the CEO of <a href=\"https:\/\/www.mediamobilize.com\/\">Media Mobilize<\/a> and a Venture Partner at <a href=\"https:\/\/www.dgincubation.co.jp\/en\/\">Digital Garage<\/a>. <a href=\"https:\/\/angel.co\/neil-devani\">Neil Devani<\/a> is an angel investor and venture capitalist focused on companies solving hard problems.","slug":"tim-hsia-neil-devani","links":{"twitter":"neildevani"},"position":"Contributor","cbDescription":"<a href=\"https:\/\/www.linkedin.com\/in\/timhsia\">Tim Hsia<\/a> is the CEO of <a href=\"https:\/\/www.mediamobilize.com\/\">Media Mobilize<\/a> and a Venture Partner at <a href=\"https:\/\/www.dgincubation.co.jp\/en\/\">Digital Garage<\/a>. <a href=\"https:\/\/angel.co\/neil-devani\">Neil Devani<\/a> is an angel investor and venture capitalist focused on companies 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no ‘perfect time’ for giving employees feedback"},"content":{"rendered":"<div class=\"article__contributor-byline-wrapper\">\n<div class=\"article__contributor-byline\">\n\t<div class=\"contributor-byline__contributor\">\n\t\t<div class=\"byline__author\">\n\t\t\t\t\t\t\t<span class=\"byline__author-name\">Mayke Nagtegaal<\/span>\n\t\t\t\t\t\t<span class=\"byline__author-title\" style=\"display: block;\">Contributor<\/span>\n\t\t<\/div>\n\n\t\t\t\t<div class=\"contributor__twitter\">\n\t\t\t<a target=\"_blank\" href=\"https:\/\/twitter.com\/messagebird\">\n\t\t\t\t\t<svg class=\"icon icon--twitter icon--white\" viewBox=\"0 0 20 20\" version=\"1.1\" aria-labelledby=\"title\">\n\t\t<title>Share on Twitter<\/title>\n\t\t<path d=\"M20,4c-0.7,0.3-1.5,0.6-2.4,0.7c0.9-0.5,1.5-1.4,1.8-2.3c-0.8,0.5-1.7,0.8-2.6,1C16.1,2.5,15,2,13.8,2c-2.3,0-4.1,1.9-4.1,4.2c0,0.3,0,0.7,0.1,1C6.4,7,3.4,5.4,1.4,2.9C1,3.5,0.8,4.1,0.8,4.9c0,1.4,0.7,2.7,1.8,3.5C2,8.4,1.4,8.2,0.8,7.9v0.1c0,2,1.4,3.7,3.3,4.1c-0.4,0.1-0.7,0.2-1.1,0.2c-0.3,0-0.5,0-0.8-0.1c0.5,1.7,2,2.9,3.8,2.9c-1.4,1.1-3.2,2-5.1,2c-0.3,0-0.7,0-1-0.1c1.8,1.2,4,1.7,6.3,1.7c7.5,0,11.7-6.4,11.7-12V6.1C18.8,5.6,19.4,4.8,20,4z\"\/>\t<\/svg>\n\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t<div class=\"contributor-byline__bio\">\n\t\tMayke Nagtegaal is the COO of <a href=\"http:\/\/www.messagebird.com\/\">MessageBird<\/a>, an Amsterdam-based cloud communications platform which, in 2017, raised the largest-ever investment \u2014 $60 million \u2014 by a European software company. \t<\/div>\n\t\n\t<\/div>\n<\/div><p id=\"speakable-summary\"><span class=\"featured__span-first-words\">As COO of a company<\/span> with more than 350 employees from 40 different nationalities of all ages who speak 20+ languages, I\u2019ve noticed that everyone likes to know where they stand when it comes to their job performance.<\/p>\n<p>Yet, for many managers, giving feedback often falls to the bottom of their priority list. <a href=\"https:\/\/www.gallup.com\/workplace\/238064\/re-engineering-performance-management.aspx\">According to Gallup<\/a>, less than half of employees surveyed said they received feedback even a few times a year. So, if 69% of employees say they would work harder if they felt their efforts were better recognized, implementing more regular feedback practices would seem like a no-brainer.<\/p>\n<p>What\u2019s stopping us?<\/p>\n<p>Anyone who has experienced startup life knows there are times when it feels as though everything is moving at warp speed \u2014 that\u2019s certainly the rate things have been moving at <a href=\"http:\/\/messagebird.com\">MessageBird<\/a> for the last 18 months. After our Series A in late 2017, we hired aggressively to rapidly execute on our product roadmap and increased our employee base by more than 100% in a matter of months. For established companies, that would be a pretty aggressive hiring blitz, but for a younger business without all the necessary processes in place, the times occasionally bordered on chaotic.<\/p>\n<p>It\u2019s difficult to call that hiring frenzy a mistake, because we learned so much from it. Most notably, you can\u2019t put performance feedback on hold until you have everything \u201cironed out.\u201d The pace of business today is too quick to wait for the perfect time, because the \u201cperfect time\u201d may be too late or worse \u2014 it may never come at all.<\/p>\n<h2>What you lose in time, you\u2019ll gain in dollars<\/h2>\n<p>It turns out that when the word \u201ccontinuous\u201d is added to the words \u201cperformance management,\u201d you can almost hear the groans. Taking time to give feedback may feel like a luxury that managers don\u2019t have when a startup is in hyper-growth mode, and giving employees feedback \u201ccontinuously\u201d sounds a bit obsessive, but the fact is, you can\u2019t afford not to do it. Companies that implement regular performance feedback are reported to have nearly <a href=\"https:\/\/blog.clearcompany.com\/mind-blowing-statistics-performance-reviews-employee-engagement\">15% less turnover,<\/a> and with the <a href=\"https:\/\/www.hrdive.com\/news\/career-development-meaningful-work-are-key-drivers-of-employee-value-propo\/541640\/\">staggering cost of rehiring<\/a> estimated to be between 90 and 200% of an employee’s salary, keeping them engaged is a good investment.<\/p>\n<p>Whether you put these strategies under the banner of continuous performance management, internal communications strategies or management 101, here are four learnings around giving regular feedback that have proven to be effective for us:<\/p>\n<h2>You don’t need to have everything figured out before setting short-term goals<\/h2>\n<p>It would certainly be easier if every road we headed down led directly to our intended destination, but that\u2019s not always the case. Sometimes we\u2019re faced with detours, roadblocks, or may even decide on another destination altogether. It\u2019s the same with building a startup, where being customer-oriented means that priorities will often change to reflect the needs of your customer base.<div class=\"extra-crunch-offer-container\"><\/div>","protected":false},"excerpt":{"rendered":"<p>You can\u2019t put performance feedback on hold until you have everything ironed out. 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from China and India can accelerate the green card process"},"content":{"rendered":"<div class=\"article__contributor-byline-wrapper\">\n<div class=\"article__contributor-byline\">\n\t<div class=\"contributor-byline__contributor\">\n\t\t<div class=\"byline__author\">\n\t\t\t\t\t\t\t<span class=\"byline__author-name\">Sophie Alcorn<\/span>\n\t\t\t\t\t\t<span class=\"byline__author-title\" style=\"display: block;\">Contributor<\/span>\n\t\t<\/div>\n\n\t\t\t\t<div class=\"contributor__twitter\">\n\t\t\t<a target=\"_blank\" href=\"https:\/\/twitter.com\/Sophie_Alcorn\">\n\t\t\t\t\t<svg class=\"icon icon--twitter icon--white\" viewBox=\"0 0 20 20\" version=\"1.1\" aria-labelledby=\"title\">\n\t\t<title>Share on Twitter<\/title>\n\t\t<path d=\"M20,4c-0.7,0.3-1.5,0.6-2.4,0.7c0.9-0.5,1.5-1.4,1.8-2.3c-0.8,0.5-1.7,0.8-2.6,1C16.1,2.5,15,2,13.8,2c-2.3,0-4.1,1.9-4.1,4.2c0,0.3,0,0.7,0.1,1C6.4,7,3.4,5.4,1.4,2.9C1,3.5,0.8,4.1,0.8,4.9c0,1.4,0.7,2.7,1.8,3.5C2,8.4,1.4,8.2,0.8,7.9v0.1c0,2,1.4,3.7,3.3,4.1c-0.4,0.1-0.7,0.2-1.1,0.2c-0.3,0-0.5,0-0.8-0.1c0.5,1.7,2,2.9,3.8,2.9c-1.4,1.1-3.2,2-5.1,2c-0.3,0-0.7,0-1-0.1c1.8,1.2,4,1.7,6.3,1.7c7.5,0,11.7-6.4,11.7-12V6.1C18.8,5.6,19.4,4.8,20,4z\"\/>\t<\/svg>\n\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t<\/div>\n\n\t\t<div class=\"contributor-byline__bio\">\n\t\t<a href=\"https:\/\/twitter.com\/Sophie_Alcorn\">Sophie Alcorn<\/a> is the founder of <a href=\"https:\/\/www.alcorn.law\/\">Alcorn Immigration Law<\/a> in Silicon Valley and 2019 Global Law Experts Awards\u2019 \u201cLaw Firm of the Year in California for Entrepreneur Immigration Services.\u201d She connects people with the businesses and opportunities that expand their lives.\t<\/div>\n\t\n\t\t<div class=\"contributor-byline__more-articles\">\n\t\t<span class=\"more-articles-title\">More posts by this contributor<\/span>\n\t\t<ul class=\"more-articles-list\">\n\t\t\t\t\t\t<li><a href=\"https:\/\/techcrunch.com\/2019\/07\/12\/minimum-investment-for-eb-5-investor-green-card-expected-to-more-than-double\/\">Minimum investment for EB-5 investor green card expected to more than double<\/a><\/li>\n\t\t\t\t\t\t<li><a href=\"https:\/\/techcrunch.com\/2019\/07\/03\/what-everyone-at-a-startup-needs-to-know-about-immigration\/\">What everyone at a startup needs to know about immigration<\/a><\/li>\n\t\t\t\t\t<\/ul>\n\t<\/div>\n\t<\/div>\n<\/div><p id=\"speakable-summary\"><span class=\"featured__span-first-words\">Securing a green<\/span> card can feel overwhelming for people in Silicon Valley who were born in India and China. But with the right help and guidance from a skilled immigration attorney, the process can be simpler, smoother and more successful.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Limits written into existing immigration laws on both the number of green cards issued each year, as well as the number of green cards available based on country of origin, leave some waiting half a century or more for a green card, with people from India and China facing the longest wait times for employment-based green cards.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In this fiscal year, which ended on October 31, 226,000 family-sponsored green cards and 141,918 employment-based green cards were available. And the per-country cap, which is the maximum number of green cards available to individuals born in a particular country, was 25,754.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Although these U.S. laws pose an extra challenge for people born in countries with the highest demand for green cards, if you were born in India or China, there are some things you can do to mitigate this wait.<\/span><\/p>\n<h2><b>Differentiate yourself<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The EB-1 green card is considered the \u201cfirst preference\u201d for those who’ll receive offers for employment-based green cards. It offers three unique and accelerated sub-paths:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.alcorn.law\/what-we-do\/employment-based-visas\/\"><b>EB-1A<\/b><\/a><span style=\"font-weight: 400;\"> green card for individuals of extraordinary ability\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.alcorn.law\/eb-1b-green-card\/\"><b>EB-1B<\/b><\/a><span style=\"font-weight: 400;\"> green card for outstanding researchers and professors<\/span><\/li>\n<li style=\"font-weight: 400;\"><a href=\"https:\/\/www.alcorn.law\/eb-1c-green-card-multinational-managers-executives\/\"><b>EB-1C<\/b><\/a><span style=\"font-weight: 400;\"> green card for multinational managers and executives<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The<\/span><b> EB-1A<\/b><span style=\"font-weight: 400;\"> green card for extraordinary ability does not require an employer sponsor or even a job offer, which means it\u2019s one of the few self-petition green cards. To demonstrate eligibility,\u00a0<\/span><span style=\"font-weight: 400;\">you must be able to show you have extraordinary ability in the sciences, arts, education, business, or athletics and that you and your work have received national or international acclaim.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Individuals who apply for the EB-1A do not need to obtain labor certification (as required of employers). That means the process is simpler and can be much faster than typical employment-based green cards. Also, an individual applicant may have more flexibility to change jobs than if an employer applied on their behalf.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The <\/span><b>EB-1B<\/b><span style=\"font-weight: 400;\"> green card for outstanding researchers and professors requires an employer to sponsor you. Candidates for the EB-1B green card must demonstrate great achievements in their academic field.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And finally, the <\/span><b>EB-1C<\/b><span style=\"font-weight: 400;\"> green card for multinational managers and executives enables an employer to bring an executive or manager who has been working abroad over to the U.S. to live and work. The EB-1C candidate must have worked outside the U.S. for the employer for at least one year.<\/span><\/p>\n<p><a href=\"https:\/\/www.cato.org\/publications\/policy-analysis\/immigration-wait-times-quotas-have-doubled-green-card-backlogs-are-long\"><span style=\"font-weight: 400;\">This Cato Institute analysis<\/span><\/a><span style=\"font-weight: 400;\"> estimates individuals born in China and India face waiting eight and nine years, respectively, for an EB-1 green card.\u00a0<\/span><span style=\"font-weight: 400;\">Despite the small and growing backlog for EB-1 green cards for individuals born in China and India, it still remains one of the quicker options.<br \/>\n<\/span><\/p>\n<h2><b>Invest in a project that creates jobs<div class=\"extra-crunch-offer-container\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Securing a green card can feel overwhelming for people in Silicon Valley who were born in India and China. 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top VCs are investing in fintech"},"content":{"rendered":"<p id=\"speakable-summary\"><span class=\"featured__span-first-words\">Over the past<\/span> several years, ‘fintech’ has quietly become the unsung darling of venture. <\/span><\/span><\/p>\n<p><span style=\"font-weight: 400;\">A rapidly swelling pool of new startups is taking aim at the<\/span> large incumbent institutions,<span style=\"font-size: 1.125rem; letter-spacing: -0.1px;\"> complex processes and outdated unfriendly interfaces that mar <span style=\"font-weight: 400;\">billion dollar<\/span> financial services verticals<\/span><span style=\"font-weight: 400;\">, <\/span><span style=\"font-size: 1.125rem; letter-spacing: -0.1px;\">such as insurtech, consumer lending, personal finance, or otherwise.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-size: 1.125rem; letter-spacing: -0.1px;\"><span style=\"font-weight: 400;\">In just the <a href=\"https:\/\/techcrunch.com\/2019\/07\/23\/embedded-finance-or-why-fintech-mega-vc-rounds-have-become-so-common\/\">past summer<\/a>, the startup community saw<\/span><\/span><span style=\"font-size: 1.125rem; letter-spacing: -0.1px;\"> a multitude of hundred-million dollar fintech fundraises. <\/span><span style=\"font-size: 1.125rem; letter-spacing: -0.1px;\">In 2018, fintech companies were the source of close to 1,300 venture deals worth over $15 billion in North America and Europe alone <\/span><a style=\"font-size: 1.125rem; letter-spacing: -0.1px; background-color: #ffffff;\" href=\"https:\/\/files.pitchbook.com\/website\/files\/pdf\/PitchBook_1Q_2019_Emerging_Tech_Research_Fintech.pdf\">according to data from Pitchbook<\/a><span style=\"font-size: 1.125rem; letter-spacing: -0.1px;\">. Over the same period, KPMG <a href=\"https:\/\/home.kpmg\/xx\/en\/home\/insights\/2019\/01\/pulse-of-fintech-h2-2018.html\">estimates<\/a> that over $52 billion in investment pour into fintech initiatives globally.\u00a0<\/span><\/p>\n<p>With the non-stop stream of venture capital flowing into the never-ending list of spaces that fall under the ‘fintech’ umbrella, we asked 12 leading fintech VCs who work at firms that span early to growth stages to share where they see the most opportunity and how they see the market evolving over the long-term.<\/p>\n<ul>\n<li>Charles Birnbaum, Partner at <a href=\"https:\/\/www.bvp.com\/team\/charles-birnbaum\/\">Bessemer Venture Partners<\/a><\/li>\n<li>Ian Sigalow, Co-founder & Partner at <a href=\"https:\/\/www.greycroft.com\/team\/ian-sigalow\/\">Greycroft<\/a><\/li>\n<li>Matt Harris, Partner at <a href=\"https:\/\/www.baincapitalventures.com\/team\/matth\/\">Bain Capital Ventures<\/a><\/li>\n<li>Angela Strange, General Partner at <a href=\"https:\/\/a16z.com\/author\/angela-strange\/\">Andreessen Horowitz<\/a>.<\/li>\n<li>Adam Valkin, Managing Director at <a href=\"https:\/\/www.generalcatalyst.com\/team\/adam-valkin\/\">General Catalyst<\/a><\/li>\n<li>Rob Moffat, Partner at <a href=\"https:\/\/www.balderton.com\/team\/rob-moffat\/\">Balderton Capital<\/a><\/li>\n<li>Brendan Dickinson, Partner at <a href=\"https:\/\/www.canaan.com\/team\/brendan-dickinson\">Canaan Partners<\/a><\/li>\n<li>Manuel Silva, Partner at <a href=\"https:\/\/santanderinnoventures.com\/team\/manuel-silva\/\">Santander InnoVentures<\/a><\/li>\n<li>Ruth Foxe Blader, Managing Director at <a href=\"https:\/\/www.anthemis.com\/people\/ruth-foxe-blader\/\">Anthemis<\/a><\/li>\n<li>Sean Park, Chief Investment Officer at <a href=\"https:\/\/www.anthemis.com\/people\/sean-park\/\">Anthemis<\/a><\/li>\n<li>Amol Helekar, Principal at <a href=\"https:\/\/www.tcv.com\/team\/amol-helekar\/\">TCV<\/a><\/li>\n<li>Jim Robinson, General Partner at <a href=\"http:\/\/www.rre.com\/jim-robinson\">RRE Ventures<\/a><\/li>\n<\/ul>\n<p>The participants touched on a number of key trends in the space, including rapid innovation in fintech infrastructure, fintech companies embedding themselves in specific verticals and platforms, rebundling and unbundling of financial services offerings, the rise of challenger banks and the state of fintech valuations into 2020.<\/p>\n<h2>Charles Birnbaum, Partner, Bessemer Venture Partners<\/h2>\n<blockquote><p>The great ‘rebundling’ of fintech innovation is in full swing. The emerging consumer leaders in fintech \u2014 Chime, SoFi, Robinhood, Credit Karma, and Bessemer portfolio company Betterment \u2014 are moving quickly to increase their share of wallet with their valuable customers and become a one-stop-shop for people\u2019s financial lives.<\/p>\n<p>In 2020, we anticipate continued entrepreneurial activity and investor enthusiasm around the infrastructure and middleware layers within the fintech ecosystem that are enabling further rebundling and a rapid convergence of product themes and business models across the consumer fintech landscape.<\/p>\n<p>Many players now look like potential challenger bank models more akin to what we have seen unfold in Europe the past few years. Within consumer fintech, we at Bessemer are more focused on demographically-specific product offerings that tap into underserved themes, whether that be <a href=\"https:\/\/www.bvp.com\/atlas\/fintech-for-the-aging\">the financial problems facing the aging population in the US<\/a> or new models to serve the underbanked or underserved population of consumers and small businesses.<\/p><\/blockquote>\n<h2>Ian Sigalow, Co-founder & Partner, Greycroft<\/h2>\n<p><strong>What trends are you most excited in fintech from an investing perspective?\u00a0<\/strong><\/p>\n<blockquote><p>I suspect that many enterprise software companies become fintech companies over time \u2014 collecting payments on behalf of customers and growing revenues as your customers grow. We have seen this trend in many industries over the past few years. Business owners generally prefer a model that moves IT expenditures from Operating Expenses into Cost of Goods Sold, because they can increase prices and pass their entire budget onto the customer.<\/p>\n<p>On the consumer side, we have already made investments in branchless banking, insurance (auto, home, health, workers comp), cross-border payments, alternative investments, loyalty cards\/services, and roboadvisor services. The companies we funded are already a few years old, and I think we will have some interesting follow-on activity there over the next few years. We have been picking spots where we think we have an unfair competitive advantage.<\/p>\n<p>Our fintech portfolio is also more global than other sectors we invest in. This is because there are opportunities to achieve billion dollar outcomes in fintech, even in countries that are much smaller than the United States. That is not true in many other sectors.<\/p>\n<p>We have also seen trends emerge in the US and move abroad. As an example we seeded Flutterwave, which is similar to Stripe, and they have expanded across Africa. We were also the lead investor in Yeahka, which is similar to Square in China. These products are heavily localized \u2014tin for instance Yeahka is the largest processor of QR code payments in the world, but QR code payments are not popular in the US yet.<\/p><\/blockquote>\n<p><strong>How much time are you spending on fintech right now? Is the market under-heated, over-heated, or just right?<\/strong><\/p>\n<blockquote><p>Fintech is about a quarter of my time right now. We continue to see interesting new ideas and the valuations have been more or less consistent over time. The broader market doesn\u2019t impact us very much because we tend to have a 10 year holding period.<\/p><\/blockquote>\n<p><strong>Are there startups that you wish you would see in the industry but don\u2019t?<\/strong><\/p>\n<p><div class=\"extra-crunch-offer-container\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Over the past several years, ‘fintech’ has quietly become the unsung darling of venture. A rapidly swelling pool of new startups is taking aim at the large incumbent institutions, complex processes and outdated unfriendly interfaces that mar billion dollar financial services verticals, such as insurtech, consumer lending, personal finance, or otherwise.\u00a0\u00a0 In just the past 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interview with economist Thomas Philippon, author of ‘The Great Reversal’"},"content":{"rendered":"<p id=\"speakable-summary\"><span class=\"featured__span-first-words\">Economist Thomas Philippon’s<\/span> new book, “The Great Reversal: How America Gave Up on Free Markets,” went on sale this past week, highlighting the United States’ failure to block the country’s largest companies from inhibiting fair competition.<\/p>\n<p>Alongside my review of the book, I spoke with Philippon to dig deeper into why entrepreneurs and venture investors should be concerned by his findings and to hear his response to some of the critiques he’s likely to receive from Silicon Valley.<\/p>\n<p><b>\u201c<\/b><span style=\"font-weight: 400;\">The broad picture is that competition is good, but surprisingly fragile,” he said. “In today’s environment, the U.S. is moving from a place where it was at the forefront of having free markets that worked pretty well for most people to being a laggard in many industries.\u201d<\/span><\/p>\n<div class=\"embed breakout\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"xOKf18V7ks\"><p><a href=\"https:\/\/techcrunch.com\/2019\/11\/02\/how-europe-overtook-the-u-s-in-championing-free-markets\/\">How Europe overtook the U.S. in championing free markets<\/a><\/p><\/blockquote>\n<p><iframe title=\"“How Europe overtook the U.S. in championing free markets” — TechCrunch\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" src=\"https:\/\/techcrunch.com\/2019\/11\/02\/how-europe-overtook-the-u-s-in-championing-free-markets\/embed\/#?secret=xOKf18V7ks\" data-secret=\"xOKf18V7ks\" width=\"800\" height=\"450\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/div>\n<p>Here’s the transcript of our conversation, edited for length and clarity:<\/p>\n<p><b><a class=\"crunchbase-link\" href=\"https:\/\/crunchbase.com\/person\/eric-peckham\" target=\"_blank\" data-type=\"person\" data-entity=\"eric-peckham\">Eric Peckham:<\/b><strong> <span class=\"crunchbase-tooltip-indicator\"><\/span><\/a> Does this analysis suggest that VCs should be looking for more opportunities in Europe, because startups have more opportunity there against incumbents, or you\u2019re findings should be read to that level of individual decision making?<\/strong><\/p>\n<p><b>Thomas Philippon:<\/b><span style=\"font-weight: 400;\"> I would not go as far as that. The takeaway is that in the U.S. there are some industries where it will be extremely useful to have more competition. Look at the problem of ISPs and how expensive internet is. In New York City, you’re lucky if even have two options, a choice between Verizon FiOS and Time Warner Spectrum. The prices are $79.99, or $79.99. The barriers to entry are too high. It is too costly to go and compete with these guys.<\/span><\/p>\n<p><strong>You laid out several options of how to potentially deal with the GAFAM (Google, <a class=\"crunchbase-link\" href=\"https:\/\/crunchbase.com\/organization\/apple\" target=\"_blank\" data-type=\"organization\" data-entity=\"apple\">Apple, <span class=\"crunchbase-tooltip-indicator\"><\/span><\/a> Facebook, Amazon, Microsoft) companies, as you framed it. One of which is to restrict them from acquiring so many small startups as a means of taking out potential competition early.\u00a0<\/strong><\/p>\n<p><strong>Entrepreneurs and VCs no doubt like that these big tech companies are so active in offering to acquire their startups and provide an attractive exit path aside from an IPO. What\u2019s you case for those worried about inhibiting these big companies from acquiring so many startups?<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">Well, that’s a specific issue. There is definitely a drop in the number of public offerings in the U.S.. The number of traded companies in the U.S. is half of what it used to be. We’re not talking about 10% move. It happened through mergers and through a lack of IPOs.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As a VC, you clearly like having more options as an exit strategy. So you know that being bought by an existing firm is a good option and has always existed as an option. On the other hand, if all the previous generations of incumbents had just bought each other, then you wouldn’t have the competitive landscape.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One reason this is a tough question to answer is that I think competition is oftentimes a public good. It\u2019s in nobody\u2019s interest to protect it. We all benefit from it but it is in no individual\u2019s interest to protect it.\u00a0<\/span><\/p>\n<p><strong>Could there be other variables here driving the shift to fewer companies going public and more startups exiting through acquisition instead of IPO? Perhaps there\u2019s a greater premium in the market for the strategic value of a company as opposed to its underlying financial value, which means strategic acquirers are willing to pay a lot more than the public market would value a company. Or is there truth to this notion that’s been thrown around a lot in the startup world that public market investors just don’t understand how to value tech companies the right way?<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">Why would that be more the case today than in the past? Why would there be that difference? There have been technology companies for a long time. The reason firms are going public less is because there is more private financing. There\u2019s more money and more flexibility to get funding without going public. So I think that’s one reason.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">And yes, probably some excessive regulation in public markets. That may be true, although the trend started way back before Enron so I don’t think that explains it very well.\u00a0<\/span><\/p>\n<p><div id=\"attachment_1907267\" style=\"width: 446px\" class=\"wp-caption aligncenter\"><img aria-describedby=\"caption-attachment-1907267\" class=\"vertical size-large wp-image-1907267\" src=\"https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/NYU2019_014-1.jpeg?w=436\" alt=\"\" width=\"436\" height=\"640\" srcset=\"https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/NYU2019_014-1.jpeg 436w, https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/NYU2019_014-1.jpeg?resize=102,150 102w, https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/NYU2019_014-1.jpeg?resize=204,300 204w, https:\/\/techcrunch.com\/wp-content\/uploads\/2019\/11\/NYU2019_014-1.jpeg?resize=34,50 34w\" sizes=\"(max-width: 436px) 100vw, 436px\" \/><p id=\"caption-attachment-1907267\" class=\"wp-caption-text\">Thomas Philippon is the Max L. Heine Professor of Finance at New York University, Stern School of Business<\/p><\/div><\/p>\n<p><span style=\"font-weight: 400;\">And then, of course you have these big monopolies and the best way to keep their monopoly is to offer extremely high premiums to acquire young competitors. That\u2019s evident in why Facebook made the big check for WhatsApp, and for Instagram as well, to an extent. They pay to prevent their own reign from being threatened. That’s that’s pretty straightforward. <div class=\"extra-crunch-offer-container\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Economist Thomas Philippon’s new book, “The Great Reversal: How America Gave Up on Free Markets,” went on sale this past week, highlighting the United States’ failure to block the country’s largest companies from inhibiting fair competition. 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href=\"https:\/\/beta.techcrunch.com\/2011\/06\/13\/instagram-five-million-users\/\">5 million users<\/a>. At the time, the total number of photos shared on the service was at 95 million, and given the rate of growth, they expected to pass 100 million shortly. Well, they missed pointing out that milestone, but today, not even two months later, they’re pointing out another one: 150 million photos.<\/p>\n<p>That’s 150 million photos uploaded to Instagram in just the 9 months since the app launched. For comparison’s sake, it took <a class=\"crunchbase-link\" href=\"https:\/\/crunchbase.com\/organization\/flickr\" target=\"_blank\" data-type=\"organization\" data-entity=\"flickr\">Flickr <span class=\"crunchbase-tooltip-indicator\"><\/span><\/a> nearly <em>two years<\/em> to hit <a href=\"http:\/\/blog.flickr.net\/2006\/02\/15\/100000000th\/\">100 million total photos<\/a> on their service. Incredibly, Instagram is now seeing 1.3 million photos uploaded each day \u2014 that’s a rate of 15 photos per second.<\/p>\n<p>The service is now well past 7 million users, Instagram co-founder <a href=\"http:\/\/www.crunchbase.com\/person\/kevin-systrom\">Kevin Systrom<\/a> tells us. Again, that’s up over 2 million in under 2 months. Without any sort of strategic promotions, they’re grown to become a mainstay in the top 25 free app in Apple’s App Store.<\/p>\n<p>Yes, Flickr may now be <a href=\"https:\/\/beta.techcrunch.com\/2010\/09\/18\/flickr-5-billionth-photo\/\">well past 5 billion photos<\/a>, and Facebook can see <a href=\"https:\/\/beta.techcrunch.com\/2011\/01\/03\/facebook-users-uploaded-a-record-750-million-photos-over-new-years\/\">750 million photos uploaded<\/a> in one crazy weekend, but remember that Instagram is still only available on one platform: iOS. Every single one of those 150 million photos has been uploaded from an iPhone (and to a much lesser extent, iPod touches and iPads). You can’t yet use Instagram from any other devices, and you can’t even upload photos from your computer. And while <a href=\"https:\/\/beta.techcrunch.com\/2011\/07\/29\/with-7m-users-in-his-pocket-kevin-systrom-says-the-biggest-opportunities-for-instagram-are-on-mobile\/\">Android support will come<\/a>, the experience is going to remain predominantly a mobile one, Systrom says.<\/p>\n<p>One more crazy stat: Systrom says that of the 150 million photos, 80 percent have had filters applied to them. And of the remaining 20 percent, plenty of those originate from other iPhone camera apps with their own filters.<\/p>\n<p>Oh, and don’t forget <a href=\"https:\/\/beta.techcrunch.com\/2011\/07\/21\/biebergram\/\">Bieber<\/a>.<\/p>\n<p>Above, find the 150 millionth photo from user janefot.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This past June, we noted that Instagram hit a big milestone: <a href=\"https:\/\/beta.techcrunch.com\/2011\/06\/13\/instagram-five-million-users\/\">5 million users<\/a>. At the time, the total number of photos shared on the service was at 95 million, and given the rate of growth, they expected to pass 100 million shortly. Well, they missed pointing out that milestone, but today, not even two months later, they’re pointing out another one: 150 million photos.<\/p>\n<p>That’s 150 million photos uploaded to Instagram in just the 9 months since the app launched. For comparison’s sake, it took Flickr nearly <em>two years<\/em> to hit <a href=\"http:\/\/blog.flickr.net\/2006\/02\/15\/100000000th\/\">100 million total photos<\/a> on their service. Incredibly, Instagram is now seeing 1.3 million photos uploaded each day \u2014 that’s a rate of 15 photos per 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