Verifly, which was launched in 2016 as an insurance provider for drone pilots, is expanding its services to include pretty much every type of part-time or contract work for the on-demand economy.
Founded by Jay Bregman, who had just sold his ridesharing company, Hailo, to Daimler Mercedes-Benz in 2016, and Eugene Hertz, the co-founder of Quidsi, which was the e-commerce company behind diapers.com and soap.com, Verifly is a simple solution for part-timers who need business insurance. And nearly everyone should have business insurance if they’re doing any kind of service job given how litigious America is.
In fact, according to a study from the Institute for Legal Reform more than 34 percent of qualified small businesses have had a lawsuit filed against them in the past 10 years, and around 40 percent of all sole proprietor businesses aren’t insured.
When it launched, Verifly offered coverage starting at $1 million for a price of $10 per-hour, per-flight. That may be a great deal for a casual operator, but it’s worth noting that pilot’s insurance for drones typically runs between $600 and $800 per year, according to the website UAV Coach.
The company is taking the same approach with gig work. Anyone from photographers and DJs to magicians and clowns — along with the legions of part-time handymen and women out there — can get insured for at least $1 million for just $5 per-hour, per-job.
Verifly says per-hour prices decrease if a customer buys a longer policy or extends their policy, and costs can change depending on what work a customer does, the limit that customer sets and whether there are any additional coverage terms that are added. Using a customer’s ZIP code, Verifly places potential policy holders in a risk territory, which then adjusts the price of the insurance based on historical loss data. The company offers policies from just one hour and up to one month without an annual contract or commitment.
To apply for a policy, users simply open the company’s app and select the type of work they do. Users then set the duration of their coverage, from an hour up to one month. Once that’s done, the app will provide a certificate of insurance that customers can refer to.
Again, price is important here. While Verifly will insure someone in minutes for $5 per hour, a quick search online shows business insurance prices beginning at $21 per month, with others offering quotes at $30. So, if a “gig” runs over an hour and is less of a part-time thing and more of a job, the Verifly coverage may not be the best bet.
New York-based Verifly doesn’t provide the insurance itself — that’s done by the massive insurance holding company, Markel, but through its apps available on iOS and Android and through its website, the company is a gateway to insurance.
So far, the company has raised $7 million in venture funding from investors including Slow Ventures and individuals like Sam Shank, the co-founder and chief executive of HotelTonight.
“The meteoric rise of independent work as both a normal way of earning a living and an aspirational lifestyle represents a fundamental shift in the way we think about operating a business and earning a living,” said Will Quist, partner, Slow Ventures, in a statement. “To address this, a new model of insurance will rise. It will be delivered on-demand and charged in the same way these workers are paid — by the job. We are thrilled to back Verifly in their quest to professionalize and elevate independent workers.”
A one-year-old Chinese startup called Luckin is busy waging war against Starbucks as the new year unfolds. At an event on Thursday, Luckin announced that it aims to be the largest coffee chain in China by number of cups sold and outlets by 2019.
Caffeinated drinks are taking off in the tea-drinking nation. Average coffee consumption per Chinese consumer is expected to grow 18 percent between 2014 and 2019, well above 0.9 percent in the U.S. Starbucks is currently the largest player in China’s coffee market, with 3,300 stores as of last May and a goal of topping 6,000 outlets by 2022.
Loss-making Luckin vows to more than double its number of locations from just over 2,000 to more than 4,500 by the end of this year. It sounds like some kind of mission impossible, given it took Starbucks 20 years to reach its current scale, but not all of Luckin’s facilities are the size of Starbucks’ sit-down shops.
Rather, Luckin operates a combination of cafes, tiny booths for customer pickup and take-out kitchens that dispatch deliverymen who bring drinks to people within 30 minutes, a big selling point of the company.
It also helps that Luckin has nailed powerful partners like food delivery giant Meituan Dianping after Starbucks teamed up with Ele.me. These moves in a way represent a proxy war between China’s two largest internet companies — Tencent and Alibaba, which backs Meituan and owns Ele.me, respectively.
Luckin has also scooped up loads of investments to power its lightspeed expansion. The company secured a $200 million Series B funding round in December that valued it at $2.2 billion, only five months after it raised $200 million. It ventured into the market by shelling out large subsidies for consumers, with deep discounts like “buy five get five free.” It’s thus not surprising to see the company operating in the red. Luckin’s net loss amounted to at least 850 million yuan, or $124 million, within nine months in 2018, the company recently told local media.
“Our chief strategy is to quickly grab market share through subsidies, so losses are expected,” said Luckin, adding that it will press on with its subsidy-powered expansion.
Mobcrush, the unified mobile gaming streaming service for Facebook, Twitter, Twitch and YouTube, is shaking its moneymaker for the first time with the unveiling of its advertising platform. “There’s what you’re able to do while begging for tips and subscriptions and then there’s being able to connect with real brands,” says Mobcrush’s shade-throwing… Read More
Oracle filed suit in federal court last week alleging yet again that the decade-long $10 billion Pentagon JEDI contract with its single-vendor award is unfair and illegal. The complaint, which has been sealed at Oracle’s request, is available in the public record with redactions.
If all of this sounds familiar, it’s because it’s the same argument the company used when it filed a similar complaint with the Government Accountability Office (GAO) last August. The GAO ruled against Oracle last month stating, “…the Defense Department’s decision to pursue a single-award approach to obtain these cloud services is consistent with applicable statutes (and regulations) because the agency reasonably determined that a single-award approach is in the government’s best interests for various reasons, including national security concerns, as the statute allows.”
Government denies Oracle’s protest of $10B Pentagon JEDI cloud RFP
That hasn’t stopped Oracle from trying one more time, this time filing suit in the United States Court of Federal Claims this week, alleging pretty much the same thing it did with the GAO, that the process was unfair and violated federal procurement law.
Oracle Senior Vice President, Ken Glueck reiterated this point in a statement to TechCrunch. “The technology industry is innovating around next generation cloud at an unprecedented pace and JEDI as currently envisioned virtually assures DoD will be locked into legacy cloud for a decade or more. The single-award approach is contrary to well established procurement requirements and is out of sync with industry’s multi-cloud strategy, which promotes constant competition, fosters rapid innovation and lowers prices,” he said echoing the language in the complaint.
The JEDI contract process is about determining the cloud strategy for the Department of Defense for the next decade, but it’s important to point out that even though it is framed as a 10 year contract, it has been designed with several opt out points for DOD with an initial two year option, two three year options and a final two year option, leaving open the possibility it might never go the full 10 years.
Why the Pentagon’s $10 billion JEDI deal has cloud companies going nuts
Oracle has complained for months that it believes the contract has been written to favor the industry leader, Amazon Web Services. Company co-CEO Safra Catz even complained directly to the president in April, before the RFP process even started. IBM filed a similar protest in October citing many of the same arguments. Oracle’s federal court complaint filing cites the IBM complaint and language from other bidders including Google (which has since withdrawn from the process) and Microsoft that supports their point that a multi-vendor solution would make more sense.
IBM files formal JEDI protest a day before bidding process closes
The Department of Justice, which represents the US government in the complaint, declined to comment.
The DOD also indicated it wouldn’t comment on pending litigation, but in September spokesperson Heather Babb told TechCrunch that the contract RFP was not written to favor any vendor in advance. “The JEDI Cloud final RFP reflects the unique and critical needs of DOD, employing the best practices of competitive pricing and security. No vendors have been pre-selected,” she said at the time.
That hasn’t stopped Oracle from continually complaining about the process to whoever would listen. This time they have literally made a federal case out of it. The lawsuit is only the latest move by the company. It’s worth pointing out that the RFP process closed in October and a winner won’t be chosen until April. In other words, they appear to be assuming they will lose before the vendor selection process is even completed.
Tesla announced a number of new hires today, including Stuart Bowers, who is joining as VP of engineering. Bowers is joining Tesla from Snap, where he worked as VP of monetization engineering. Other new hires include Neeraj Manrao, who left Apple to become Tesla’s director of energy manufacturing, and Kevin Mukai, who is now director of product engineering at Tesla’s Gigafactory.
“We’re excited to welcome a group of such talented people as we continue to ramp Model 3 and accelerate towards a more sustainable future,” Tesla wrote on its blog. “We’ll be announcing more hires in the coming days, so stay tuned.”
These new hires come following a couple of departures. In April, Tesla VP of Autopilot Jim Keller left for Intel, with Pete Bannon serving as Keller’s replacement. Bannon is a former Apple chip engineer who helped design Apple’s A5-AP chips. Earlier this month, Sameer Qureshi left a senior manager Autopilot role at Tesla to lead Lyft’s autonomous driving efforts.
Here’s the full list of new hires, via Tesla’s blog:
Stuart Bowers is joining as VP of Engineering, responsible for a broad range of Tesla’s software and hardware engineering. Stuart has 12 years of software experience and a background in applied mathematics, and is joining Tesla from Snap. There, he was most recently VP of Monetization Engineering, leading the team with a focus on machine learning and ad infrastructure. Prior to Snap, Stuart was the eighth engineer hired at Facebook’s Seattle office where he worked on data infrastructure and machine learning for search.
Neeraj Manrao has joined Tesla as Director of Energy Manufacturing. Neeraj comes from Apple, where he led the technical operations team.
Kevin Mukai has started as Director of Production Engineering at Gigafactory. Kevin was most recently at ThinFilm Electronics, where he served as Senior Director of Process Engineering, and before that at SunPower as Director of Process & Equipment Engineering. Kevin has extensive experience in advanced factory design and development.
James Zhou started last month as CFO, China. James previously served as CFO for Asia Pacific and India for Ingersoll Rand, and prior to that held a number of financial leadership positions at General Electric and General Motors.
Alexandra Veitch joined last month as Senior Director for North American Government Relations and Policy. Alexandra comes to Tesla from CSRA. Before that, she served as Special Assistant to the President and Legislative Affairs Liaison in the White House under the Obama Administration. Her government service also includes time at the Department of Homeland Security and as a staff member in both the U.S. Senate and House of Representatives.
Kate Pearson is our new Director of Field Delivery Operations. She previously worked as VP of Digital Acceleration at Walmart eCommerce, where she led online grocery and last-mile delivery.
Mark Mastandrea started earlier this month as Director, Vehicle Delivery Operations. He comes from Amazon, where he was their Director of Logistics Operations, leading last-mile delivery in North America and working on the design and development of AmazonFresh pickup.
Myriam Attou recently started as Regional Sales Director in EMEA. Coming from La Perla, and before that Burberry, she has a long track record of delivering strong results in sales, customer experience and service excellence.
Twitter says it’s going to make it easier for publishers to better understand what sort of content is resonating with its readers on the social network. The company this morning at CES briefly discussed a concept for a new publisher dashboard offering insights and analytics that can better inform their content strategy.
The company clarified the dashboard is still very much an “early concept.”
However, the idea is to offer publishers an easy way to see who on Twitter is reading and engaging with their content, when they’re viewing it, and what content is working best.
The goal is to allow publishers to better optimize what they produce to make it effective, the company said.
In addition, Twitter is working on another publisher tool – an events dashboard that will show what events are coming up, including breaking news events.
For example, an event like the Consumer Electronics Show in Las Vegas would be the type of the event that would appear on this dashboard.
This will allow the publishers to figure out – in advance – how they want to participate in that conversation on Twitter.
The company also discussed how the events would appear on Twitter, explaining that it’s trying to making it easier for newcomers to the network to follow events, without the need of a knowing the hashtag.
“We know people want to come to see what’s happening. And particularly, they want to come to Twitter to see what’s happening when events are unfolding in the real world,” said Keith Coleman, VP, Product at Twitter, speaking on stage at CES this morning.
“If you think about the experience of actually following that – it’s hard. You have to follow the publications, you have to follow the journalists, you have to follow the attendees whose names you don’t even know. You don’t have all the hashtags,” he said.
The events section, meanwhile, will organize this information for you, so you can “tune in” to the live events, without having to know who or what to follow.
Events will be pinned to the top of the timeline, in Explore and accessible through Search, he said.
I’m pleased to announce that I’ll be seeing you Varsovians tomorrow night at our pre-holiday meet-up. The Warsaw event, here, is on the 19th at WeWork in Warsaw. I’ve already chosen folks to pitch, but please come and support your fellow start-uppers.
Special thanks to WeWork Labs in Warsaw for supplying some beer and pizza for the event and, as always, special thanks to Dermot Corr and Ahmad Piraiee for putting these things together. See you soon!
Over the last couple of days, serial entrepreneur Elon Musk has been tweeting about how to potentially help the 12 young soccer players and their coach who began exploring a cave in Thailand on June 23rd, quickly becoming trapped there by rising floodwaters.
Now, suggests Musk, working with cave experts in Thailand, he and engineers from his rocket company, SpaceX, have decided on the “primary path” to attempt to freeing the group: a “tiny, kid-size submarine” that uses the “liquid oxygen transfer tube” of SpaceX’s Falcon rocket as the hull.
It’s “[l]ight enough to be carried by two divers, small enough to get through narrow gaps. Extremely robust,” Musk tweeted a couple of hours ago, adding that construction on the vehicle will be “complete in about 8 hours” after which it will be sent on a 17-hour flight to Thailand. (SpaceX is based in Hawthorne, California, outside of L.A.)
Whether the creation is made and shipped out remains to be seen, but Musk suggested on Twitter that it would be “[f]itted for a kid or small adult to minimize open air” with “[s]egmented compartments to place rocks or dive weights” and “adjust buoyancy.”
Musk had tweeted last night that both SpaceX and his much newer, tunnel boring company, Boring Company, would be sending engineers to Thailand today to see how they could help.
If SpaceX is able to create an escape pod that works, Musk — who enjoys a kind of cult status in the business world for building superior products in challenging, capital-intensive industries — will only further burnish his reputation as a kind of Tony Stark figure. Indeed, his Twitter feed is currently filled with adoring comments relating to his interest in rescuing the soccer team.
It’s a daunting challenge. As reported in the New York Times, the cave complex has never been fully mapped and it features different waterways that don’t appear to be directly linked. Rescue attempts have already led to one fatality, that of former Thai Navy SEAL diver Saman Gunan, who brought tanks of air to the boys and their coach, then lost consciousness in one of its passageways on his swim out of the complex.
Some good feedback from cave experts in Thailand. Iterating with them on an escape pod design that might be safe enough to try. Also building an inflatable tube with airlocks. Less likely to work, given tricky contours, but great if it does.
— Elon Musk (@elonmusk) July 7, 2018
Got more great feedback from Thailand. Primary path is basically a tiny, kid-size submarine using the liquid oxygen transfer tube of Falcon rocket as hull. Light enough to be carried by 2 divers, small enough to get through narrow gaps. Extremely robust.
— Elon Musk (@elonmusk) July 7, 2018
Construction complete in about 8 hours, then 17 hour flight to Thailand
— Elon Musk (@elonmusk) July 7, 2018
Update: The original version of this story included a short reference to a contest that Musk is not involved in. Thanks to a reader for flagging this for us.
If you’ve been on an electric scooter from Bird, Lime, Lyft, JUMP via Uber, Skip, Scoot or others, you’re probably familiar with that feeling of impending doom. Superpedestrian, makers of the Copenhagen Wheel, is today emerging with a sturdier, safer and smarter electric scooter. But instead of operating a shared electric scooter network, the plan is to sell these scooters to the players mentioned above.
Superpedestrian’s main offering is a sturdier scooter with self-diagnostic and remote management capabilities. Superpedestrian says its scooters can maintain themselves from nine to 18 months at a time, while other scooters break down more often, the company says.
Superpedestrian’s scooters are equipped to self-diagnose issues that involve components, the motherboard, motor controller, land management system, batteries and more. In total, Superpedestrian can detect about 100 different things that could be wrong with it.
“So the system is smart enough to identify those common things that take place, common risks and hazards, and then it apply self-protection, which means it protects before damage occurs,” Superpedestrian founder and CEO Assaf Biderman told TechCrunch. “If the batteries are out of balance, and there’s a heating issue in part of the cells, it balances itself if temperatures continue to rise, it attenuates, consumes, less energy, it never lets it get to the point where it catches fire.”
These internal systems are designed to reduce failures, decrease the amount of time human operators need to spend troubleshooting scooters and ultimately increase the supply of scooters available at any given time.
Superpedestrian says it already has a big player on board, though Biderman would not disclose which one. What he would share is that the first deployment will happen in Q1 2019.
Facebook is rolling out a redesigned bookmarks section in its app that will make it easier to navigate and access various Facebook settings – including Account Settings, Privacy Shortcuts, News Feed Preferences, Activity Log, Payments Settings, access to Help & Support, and more. None of the options in the updated menu are new to Facebook. Instead, the changes are focused on centralizing a variety of controls that were previously located in other places, where they may have been unknown to some users.
The updated menu, at first glance, appeared to be a continuation of the redesign to Facebook’s Settings, announced last month.
At the time, the company promised a revamped settings menu on mobile that moves settings from across 20 different screens to a single place. It also launched the menu item “Privacy Shortcuts,” where you can lock down who can view your profile or contact you as well as learn about how to protect your privacy on its social network.
However, Facebook tells us this redesign was not related to the earlier announcement, but has been in the works for a while.
Now the entire Bookmarks menu is getting a makeover, where controls aren’t just centralized, but some have moved to the forefront instead of being buried behind an extra click.
The Bookmarks menu has also been given a new look and updated icons. While most of the list remains colorful, all the Settings Bookmarks appear in shades of gray to differentiate them.
Facebook confirmed the change to the Bookmarks section has begun to roll out to new users worldwide as part of a staged rollout.
“We’ve been looking into how to make Bookmarks easier to navigate and more relevant for people for some time,” a Facebook spokesperson told TechCrunch. “We hope this update, similar to the ones we’ve been making recently, will help people navigate Facebook more easily so they can continue to connect with the people, Pages and Groups they log on to see.”
The redesign comes at a time when Facebook is being heavily scrutinized over its data privacy protections for users, which has led to changes in other areas of its business as well – including its API (app) platform, apps’ access to user data, data portability and more. It had already acknowledged that some of its controls were too hard to find in the past, and it needed to correct that.
The new look for Bookmarks will be scaled to all users globally across all platforms over the next two weeks, Facebook told us.
Changes are afoot at Tide, the U.K. fintech startup that offers banking services for small businesses. TechCrunch has learned that founder George Bevis is planning to step down as CEO, and that the nearly three-year old company is actively headhunting for his replacement.
It comes at a time when Tide — which counts 30,000 small business sign ups — is said to be entering ‘scale-up’ mode, with a headcount approaching 100 employees, and ambitions to expand internationally. Earlier this week the service saw a rebrand, including a new ‘vertical’ design for the Tide card and the slogan “Do Less Banking,” a reference to the startup’s mission to make the lives of small business owners easier.
The company also announced that it had got a regulatory upgrade and is now authorised as an electronic money institution by U.K. regulator the FCA. This gives Tide more direct access to banking infrastructure and means that over time it will be less reliant on third-party providers and can have more flexibility in how it serves customers, although it still hasn’t (yet?) chosen to apply for a fully fledged bank license.
Confirming that Tide is recruiting a new CEO, founder Bevis gave TechCrunch the following statement:
“I’m a small business-focussed guy who’s had the privilege of building an amazing company serving small businesses. Now our own business isn’t small any more it’s time for me to think about bringing in someone who knows at least as much about international scale-ups as I know about U.K. startups. Tide will stay focussed on saving small business owners time — in future all across the world. I’m looking forward to continuing to play a key role, both inside the business and on the board”.
I’m told that the decision to start recruiting for a new CEO was instigated by Bevis in discussion with the Tide board, who are fully supportive. The thinking from the Tide founder is that now is a good time to look for a CEO experienced in scaling a company as the early-stage founding job is materially complete, including developing the core Tide product and finding market fit.
Meanwhile, I understand that the new CEO will be tasked with executing Tide’s growth plans, which, along with international expansion, will include evolving the startup to a full SMB banking platform play that will see it continue to plug into providers of other bank related services for small business and further commercializing through revenue-share deals. The idea is that by creating a Tide ecosystem, the company “can scale far beyond the size of any single individual provider”.
To that end, Tide has secured over $16 million in funding to date from VCs including Creandum, LocalGlobe, Passion Capital and fintech specialist, Anthemis, as well as well-known angel investors including Errol Damelin (Wonga), Alex Chesterman (Zoopla/ZPG) and William Reeve (Lovefilm, Graze, and currently CEO of Goodlord).
Earlier this month, media startup Tech In Asia surprised its readers when it announced plans to implement an $18 per month paywall. That puts it in line with packages for the Bloomberg and the The Wall Street Journal; the subscription went live this week. It’s designed to make the business self-sustaining after a tricky period of business in which the company contemplated an ICO and was forced to make cutbacks to its team.
The Singapore-based company — which operates a popular blog and events business in Southeast Asia — laid off as many as one-third of its staff after it went back on a plan to raise money from an ICO, according to documents reviewed by TechCrunch and multiple people familiar with the situation.
In July, as the company scrapped its ICO plans, Tech In Asia fired 18 of its 60 employees in Singapore, one-third of its smaller employee base in Indonesia and restructured other business units after scrapping the plan to develop its own cryptocurrency. Most of the layoffs were in non-editorial business lines — like the company’s jobs division, which works with companies to pitch the Tech In Asia website as a recruitment platform. That division laid off half of its team, according to a source, while a number of reporters elected to leave the company too, as E27 reported in August.
Tech In Asia founder and CEO Willis Wee did not respond to multiple requests for comment.
Update: Wee has published a response to our story on the Tech In Asia website; you can find it here.
While the fundraising target for the ICO wasn’t disclosed, the plan was to bring in enough new investment to extend the company’s eroding runway.
The ICO was part of “Project Tribe,” a strategy to develop a decentralized platform that would allow any organization to develop online communities using a blockchain-based framework built by Tech In Asia, according to documents viewed by TechCrunch.
“Our goal is to give Tech In Asia back into the hands of the community and harness community forces to bring us closer to our mission of building and serving Asia’s tech communities,” the company wrote in one section of the whitepaper, which was never released but had been widely circulated beyond Tech In Asia staff.
The most successful ICOs have developed decentralized systems that are often initially beneficial to the company behind the token sale, but that can, in theory, be extended to cover other businesses.
Project Tribe used that angle. Bearing some basic similarities to the Civil journalism platform, the plan was initially to host Tech In Asia’s news and community website over the next three years, before opening up to third parties by 2021.
Company-wide Slack messages seen by TechCrunch show that it was discarded after the management team balked at the risk behind the move. They told staff their concern that token economics, pleasing retail investors and legal uncertainties would all distract from the core business. That reversal was taken despite “significant” investment resources and dozens of staff being allocated to develop the concept and whitepaper over a number of months.
From funding to cutbacks
It wasn’t so long ago that Tech In Asia was the toast of Asia’s media community.
The startup — which launched in 2010 — brought in $6.6 million in fresh funding last November in a round led by Korean investor Hanwha.
In the ensuing six months, after watching annual revenue drop thanks in part to a dramatic decline in its events business, the Tech In Asia leadership caught crypto fever and decided to venture into the new world of ICOs.
There were signs of trouble earlier in 2017 for the company. Tech in Asia laid off most of its India-based team in early 2017 and ended its events business in that country. Those decisions impacted its event business, which a source said saw total revenue drop by more than 50 percent.
Update: Tech In Asia refutes this claim. “Our latest annualized revenue is up more than 20 percent year-on-year. And we expect to do even better as the year closes,” CEO Willis Wee said in response.
A shift to community content, with fewer “original” reporting and journalism pieces also cut into company performance. Internal data seen by TechCrunch shows that monthly active users on the site were down 31 percent year-on-year in Q2 2018 — reaching 1.84 million — while total page views slipped by one-third, too.
Tech In Asia’s management team told all staff in June that its runway, which was thought to be shored up by the November deal, had gone from a solid-looking 81 months to just 14 months. Management claimed that a change in financial calculations caused the difference and employees were reassured that their jobs were safe.
One month later, however, the company began shedding staff in an effort to cut costs, reversing a hiring spree it launched in January, according to sources.
Two sources told TechCrunch that morale of the remaining staff was crushed when a few members of the management team were seen to “flaunt” the fruits of their wealth on social media just days after firing large portions of the team. Some social media updates posted to the internet that upset departing staff included a photo of a Rolex, the view of a villa on a weekend trip to Bali and an expensive sushi dinner bill.
With the company facing a straitened financial situation, if Tech In Asia tries to raise money again it’ll have some explaining to do to potential investors.
The business grossed SG$3.37 million (US$2.47 million) for the first six months of the year. Annualized, that would represent a 15 percent drop on 2017’s revenue, and Tech In Asia is still losing money. It recorded a net loss of SG$1.43 million (US$1.05 million) for the first half of 2018, according to internal data. That’s an average monthly burn rate of SG$0.23 million, or US$0.17 million.
Nonetheless, Wee — the Tech In Asia CEO — is hopeful that the subscription model pivot can make Tech In Asia sustainable in the long run.
“As you probably know, our business model has been built around events and advertising. While these have kept our business going, we are still working towards becoming profitable. Why is achieving this important? Because the only way we can be better at serving Asia’s tech ecosystem is if we have more resources and a consistent income stream,” he wrote when announcing the subscription package.
Note: Some parts of this story have been edited for clarity and accuracy after publication; that includes amending the fact that Tech In Asia’s subscription package is not more expensive than Bloomberg, The Information or The Wall Street Journal . That original claim was based on time-limited offers, which vary between publications and periods of time.
Full disclosure: I bought an annual subscription to Tech In Asia at the early-bird discount rate being offered right now. That doesn’t impact my coverage of this story — I support a number of media businesses via subscription packages.