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Daily Crunch: Amazon Web Services stumble - techcrunch

Daily Crunch: Amazon Web Services stumble

An Amazon Web Services outage has a wide effect, Salesforce might be buying Slack and Pinterest tests new support for virtual events. This is your Daily Crunch for November 25, 2020. And for those of you who celebrate Thanksgiving: Enjoy! There will be no newsletter tomorrow, and then Darrell Etherington will be filling in for […]
techcrunch - 7 hours ago
Flexible expressions could lift 3D-generated faces out of the uncanny valley - techcrunch

Flexible expressions could lift 3D-generated faces out of the uncanny valley

3D-rendered faces are a big part of any major movie or game now, but the task of capturing and animated them in a natural way can be a tough one. Disney Research is working on ways to smooth out this process, among them a machine learning tool that makes it much easier to generate and […]
techcrunch - 9 hours ago
Remote-controlled delivery carts are now working for the local Los Angeles grocer - techcrunch

Remote-controlled delivery carts are now working for the local Los Angeles grocer

Robots are no longer the high-tech tools reserved for university labs, e-commerce giants and buzzy Silicon Valley startups. The local grocer now has access too. Tortoise, the one-year-old Silicon Valley startup known for its remote repositioning electric scooters, has taken its tech and adapted it to delivery carts. The company recently partnered with online grocery […]
techcrunch - 10 hours ago
France starts collecting tax on tech giants - techcrunch

France starts collecting tax on tech giants

France is going forward with its plan to tax big tech companies. The government has sent out notices to tech giants, as reported by the Financial Times, Reuters and AFP. There could be retaliation tariffs on French goods in the U.S. For the past couple of years, France’s Economy Minister Bruno Le Maire has been […]
techcrunch - 11 hours ago
As IBM shifts to hybrid cloud, reports have them laying off 10,000 in EU - techcrunch

As IBM shifts to hybrid cloud, reports have them laying off 10,000 in EU

As IBM makes a broad shift in strategy, Bloomberg reported this morning that the company would be cutting around 10,000 jobs in Europe. This comes on the heels of last month’s announcement that the organization will be spinning out its infrastructure services business next year. While IBM wouldn’t confirm the layoffs, a spokesperson suggested that […]
techcrunch - 11 hours ago
Insurtech’s big year gets bigger as Metromile looks to go public - techcrunch

Insurtech’s big year gets bigger as Metromile looks to go public

In the wake of insurtech unicorn Root’s IPO, it felt safe to say that the big transactions for the insurance technology startup space were done for the year. After all, 2020 had been a big one for the broad category, with insurtech marketplaces raising lots, rental insurance startup Lemonade going public, Root itself debuting even […]
techcrunch - 12 hours ago
Amazon Web Services outage takes a portion of the internet down with it - techcrunch

Amazon Web Services outage takes a portion of the internet down with it

Amazon Web Services is currently having an outage, taking a chunk of the internet down with it. Several AWS services were experiencing problems as of early Wednesday, according to its status page. That means any app, site or service that relies on AWS might also be down, too. (As I found out the hard way […]
techcrunch - 12 hours ago
Slack’s stock climbs on possible Salesforce acquisition - techcrunch

Slack’s stock climbs on possible Salesforce acquisition

News that Salesforce is interested in buying Slack, the popular workplace chat company, sent shares of the smaller firm sharply higher today. Slack shares are up just under 25% at the moment, according to Yahoo Finance data. Slack is worth $36.95 per share as of the time of writing, valuing it at around $20.8 billion. […]
techcrunch - 13 hours ago
Instead of Yule log, watch this interactive dumpster fire because 2020 - techcrunch

Instead of Yule log, watch this interactive dumpster fire because 2020

The holiday seasons is upon us and with that comes stress, anxiety, and the airing of grievances. And this year is worse. Instead of watching a yule log smolder in a warm hearth, we’re all stuck in our homes watching the world burn. Instead of yelling into the void, try this interactive dumpster fire instead. […]
techcrunch - 13 hours ago
Join us for a live Q&A with Sapphire’s Jai Das on Tuesday at 2 pm ET/11 am PT - techcrunch

Join us for a live Q&A with Sapphire’s Jai Das on Tuesday at 2 pm ET/11 am PT

Sure, we’re heading into a holiday weekend here in America, but that doesn’t mean that the good ship TechCrunch is going to slow down. We’re diving right back in next week with another installment in season two of Extra Crunch Live, our regular interview series with startup founders, venture capitalists, and other leaders from the […]
techcrunch - 15 hours ago
Cast.ai nabs $7.7M seed to remove barriers between public clouds - techcrunch

Cast.ai nabs $7.7M seed to remove barriers between public clouds

When you launch an application in the public cloud, you usually put everything on one provider, but what if you could choose the components based on cost and technology and have your database one place and your storage another? That’s what Cast.ai says that it can provide, and today it announced a healthy $7.7 million […]
techcrunch - 15 hours ago
Amazon expands IP Accelerator to Europe after US SMBs register 6,000 trademarks - techcrunch

Amazon expands IP Accelerator to Europe after US SMBs register 6,000 trademarks

As we head into the biggest shopping period of the year — which this year may well have an even stronger online component than usual because of Covid-19 — Amazon has launched its latest effort to combat the sale of counterfeit goods on its site. The e-commerce giant today announced that its free IP Accelerator […]
techcrunch - 17 hours ago
Tiger Global invests in India’s Unacademy at $2 billion valuation - techcrunch

Tiger Global invests in India’s Unacademy at $2 billion valuation

Unacademy, an online learning platform in India, has added two more marquee investors to its cap table. The Bangalore-based startup, which focuses on K-12 online education, said on Wednesday it has raised new funds from Tiger Global Management and Dragoneer Investment Group. The funding round, the size of which was not disclosed, valued the four-and-a-half-year-old […]
techcrunch - 17 hours ago
Coinbase disables margin trading following guidance from Commodity Futures Trading Commission - techcrunch

Coinbase disables margin trading following guidance from Commodity Futures Trading Commission

Just a few months after launching margin trading on Coinbase Pro, the company is disabling the feature. Margin trading lets you trade on leverage. But it works both ways — margin trading lets you multiply your gains and your losses. Starting on November 25, 2pm PT, users won’t be able to place new margin trades. […]
techcrunch - 20 hours ago
WeGift, the ‘incentive marketing’ platform, collects $8M in new funding - techcrunch

WeGift, the ‘incentive marketing’ platform, collects $8M in new funding

WeGift, the London-based startup that has built an “incentive marketing” platform that lets businesses easily issue e-gift cards and other digital rewards to customers, has raised $8 million in new funding. Dubbed a Series A extension, the round is led by AlbionVC. Existing investors including Stride.vc, SAP.iO fund and Unilever Ventures also followed on. Following […]
techcrunch - 21 hours ago
As e-bikes boom, FuroSystems raises its first venture funding round ahead of a new model launch - techcrunch

As e-bikes boom, FuroSystems raises its first venture funding round ahead of a new model launch

With COVID-19 making commuters switch to bikes, and cities wanting cleaner air, the e-bike revolution is only just getting started. Further evidence of this is the news that today British e-bike manufacturer FuroSystems has closed its first institutional venture funding round of £750,000 with participation by TSP Ventures and European impact investment bank, ClearlySo, as […]
techcrunch - 21 hours ago
The FCC rejects ZTE’s petition to stop designating it a “national security threat” - techcrunch

The FCC rejects ZTE’s petition to stop designating it a “national security threat”

The Federal Communications Commission has rejected ZTE’s petition to remove its designation as a “national security threat.” This means that American companies will continue to be barred from using the FCC’s $8.3 billion Universal Service Fund to buy equipment and services from ZTE . The Universal Service Fund includes subsidies to build telecommunication infrastructure across […]
techcrunch - 1 day ago
SpaceX successfully launches a Falcon 9 booster for a record seventh time - techcrunch

SpaceX successfully launches a Falcon 9 booster for a record seventh time

SpaceX has launched yet another Starlink mission, adding 60 more Starlink satellites to its low-Earth orbit constellation. That’s good news for its efforts to blanket the globe in high-speed broadband, and today’s flight is even better news for its equally important ambition of developing more reusable rocket systems, since the first-stage booster that helped launch […]
techcrunch - 1 day ago
Pinterest tests online events with dedicated ‘class communities’ - techcrunch

Pinterest tests online events with dedicated ‘class communities’

Pinterest is getting into online events. The company has been spotted testing a new feature that allows users to sign up for Zoom classes through Pinterest, while creators use Pinterest’s class boards to organize class materials, notes, and other resources, or even connect with attendees through a group chat option. The company confirmed the test […]
techcrunch - 1 day ago
Police case filed against Netflix executives in India over ‘A Suitable Boy’ kissing scene - techcrunch

Police case filed against Netflix executives in India over ‘A Suitable Boy’ kissing scene

Netflix, which has invested more than $500 million to gain a foothold in India in recent years, is slowly finding out just about what all could upset some people in the world’s second-largest internet market: Apparently everything. A police case has been filed this week against two top executives of the American streaming service in […]
techcrunch - 1 day ago
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bbc
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tech world
techcrunch
technology
the inventory
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venture beat
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help
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techcrunch
Syte, an e-commerce visual search platform, gets $30 million Series C to expand in the U.S. and Asia

Syte, an e-commerce visual search platform, gets $30 million Series C to expand in the U.S. and Asia

techcrunch - 1 month ago

Sytes cofounders, chief executive Ofer Freyman, chief revenue officer Lihi Pinto-Fryman and chief operating officer Idan Pinto

Sytes cofounders, chief executive Ofer Freyman, chief revenue officer Lihi Pinto-Fryman and chief operating officer Idan Pinto

Tel Aviv-based visual search and product discovery platform Syte, already used by brands like Farfetch and Fashion Nova, plans to expand in the United States and Asia-Pacific region after its latest funding. The startup announced today it has raised a $30 million Series C, with an additional $10 million in debt.

The round was led by Viola Ventures, with participation from LG Tech Ventures, La Maison, MizMaa Ventures, Kreos Capital, and returning investors Magma, Naver Corporation, Commerce Ventures, Storm Ventures, Axess Ventures, Remagine Media Ventures and KDS Media Fund. Syte’s last round of funding, a $21.5 million Series B, was announced in September 2019. The startup has now raised a total of $71 million.

Launched in 2015 to focus on visual search for clothing, Sytes technology now covers other verticals like jewelry and home decor, and is used by brands including Farfetch, Fashion Nova, Castorama and Signet Jewelers. Syte says that its solutions can increase conversion by 177% on average.

The companys platform includes three main products: Visual Discovery to let brands add camera search, recommendation engines and discovery buttons; “Searchendising,” which automatically generates tags based on visual AI to improve search and recommendation results; and a Discovery Marketplace used by publishers, smart devices manufacturers and social platforms to increase the reach of product advertisements.

Since the beginning of 2020, Syte says its customer base has grown 38%, partly because of the increase in e-commerce traffic caused by COVID-19 movement restrictions.

In the companys press announcement, chief executive officer and co-founder Ofer Fryman said Syte will focus on developing or acquiring product discovery technology “spanning the full range of our sensesvisual, text, voice, and more” to create types of personalized recommendations.

A lot of Sytes current customers are in Europe, the Middle East and Africa, so its new funding is also earmarked to increase its presence in the U.S. and Asia-Pacific markets.

More social media platforms and e-commerce platforms, including Amazon, Target, IKEA, Walmart, eBay, Snap, and Pinterest, are using visual search and recognition technology to give users an alternative to keyword searches. By simplifying the search process or automatically generating tags, visual recognition technology can help improve search results and product recommendations, resulting in more conversions.

There is a roster of other companies that are also working on AI-based visual recognition and search technology for e-commerce. Other startups in the same space that have raised venture capital funding include Donde Search, ViSenze and Slyce.

Gal Fontyn, Sytes vice president of marketing, told TechCrunch that it differentiates with visual AI algorithms developed by co-founder and chief technology officer Helge Voss, who previously worked as a physicist at CERN (the European Organization for Nuclear Research).

Voss background in neural networks and machine learning allowed Syte to build a visual search solution that can produce results with over 95% accuracy in object-matching within less than a second, Fontyn said. Its algorithms have also been trained on millions of products from vendors around the world, which Syte claims gives it the “largest vertical-specific lexicon in the industry.” This is what allows it to recognize several objects within an image, and assign them detailed tags.

Brands that use Syte see a 423% increase on average on ROI, Fontyn added.

sauce: techcrunch
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