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From Camera Drones to Augmented Reality, Here Are Snap’s Newest Products and Features
Christian Hetrick
Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.
Social media giant Snap is selling a new product that could change the way you see the world—but no, it’s not the company’s long-awaited augmented reality glasses.
On Thursday, the Santa Monica-based firm launched a flying camera called Pixy, a pocket-sized drone that could take your next selfie from an aerial view. The Snapchat-connected drone was probably the biggest surprise from Snap’s Partner Summit, an annual event when the company shares updates on its products, features and partnerships.
But Pixy wasn’t the only major announcement. From augmented reality (AR) at concerts to a new way to shop online, here are some highlights from the Snap summit:
Virtual Dressing Rooms
Snap is launching a Dress Up tab on the Snapchat app where users can virtually try on apparel using augmented reality. The company has already deployed AR shopping, but Dress Up will create a dedicated destination—just a tap away from the app’s camera—where users can browse items, share looks and bookmark outfits and accessories.
To date, AR shopping has allowed Snapchatters to preview 3D models of sneakers on their feet or sunglasses on their faces using their smartphone cameras. On Thursday, Snap announced users can now virtually try on clothes using full-body photos, with Snap overlaying products onto the pictures.
Snap has pitched AR as an innovative way for brands to advertise, drive sales and reduce item returns. Most shopping experiences on Snapchat link to an external website for customers wanting to buy products, a spokesperson said.
The company is now offering new software tools to make it easier for retailers to make AR versions of their items, using existing product images. Snap also announced that companies can integrate its AR try-on experience onto their own platforms; Puma will be the first company to use the technology to let shoppers digitally try sneakers directly on its own app.
Snap's AR tech allows users to try on sneakers using their smartphones.
Courtesy of Snap
AR at Music Festivals
Snap has recently taken steps to bring AR experiences to physical locations like local landmarks and small businesses. Now, Snap is bringing AR to music festivals through a multi-year partnership with Beverly Hills-based Live Nation.
Starting with the Electric Daisy Carnival next month in Las Vegas, concertgoers can use AR to try on merchandise, find friends and discover AR experiences around the festival grounds. Other festivals that will be deploying Snap’s AR include Lollapalooza in Chicago, Wireless Festival in London, Rolling Loud in Miami and The Governors Ball in New York, the company said.
Snap’s New Camera Drone
As mentioned, Snap will now sell a pocket-sized flying camera called Pixy. CEO Evan Spiegel pitched the device as a new creative tool allowing users to capture photos and videos from new, aerial angles.
The mini-drone comes with four preset flight paths that users can select with the press of a button, no controller needed. Pixy “knows when and where to return” and lands gently in the palm of your hand, Spiegel said. From there, users can wirelessly transfer the aerial shots to their Snapchat accounts.
The Pixy device costs $230 to buy. Snap advised customers to check out their local laws and regulations around drones before letting Pixy take flight.
Snap’s AR glasses, meanwhile, are not yet for sale. The latest Spectacles are currently being tested by “hundreds” of developers who’ve received early access, according to Sophia Dominguez, Snap’s head of AR platform partnerships.
Director Mode for Creators
Speaking of creative tools, Snapchat is rolling out a new suite of camera and editing features, called Director Mode, allowing users to make more polished content.
One feature will allow creators to use a smartphone’s front-facing and back-facing cameras at the same time—letting them record what’s in front of them while capturing their reaction simultaneously.
Snap is also making it easier to seamlessly transform the backgrounds of videos through its Green Screen mode—similar to an existing feature on TikTok—while its Quick Edit mode lets users easily edit together multiple Snaps. Director Mode will roll out on Apple devices in the coming months, followed by Android devices later this year.
Snap has allowed creators to attach AR experiences to physical locations.
Courtesy of Snap
Big User Numbers
In addition to new products and features, Snap’s executives touted the size and engagement of the company’s user base.
Snapchat now reaches more than 600 million monthly active users, they said Thursday, up from the 500 million reported last May. Last week, the company reported it had 332 million daily active users.
As TechCrunch recently noted, Snapchat has been growing faster than rivals Facebook and Twitter—though TikTok remains the dominant social media app of the moment, with the most downloads in the first quarter of this year and more than 1 billion monthly active users as of last year.
Snapchat users have embraced its AR offerings, with people interacting with the app’s AR Lenses 6 billion times per day on average, Spiegel noted.
“What was once a far-off vision for computing overlaid on the world through augmented reality is possible today through our camera,” he said.From Your Site Articles
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Christian Hetrick
Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.
Image by Master1305/ Shutterstock
“How to Startup” is a new series from serial entrepreneur and investor Spencer Rascoff. Step by step, Spencer will take prospective entrepreneurs through the process of coming up with a startup, raising funding, starting a team, scaling, and, eventually, exiting. Based on his class at Harvard called “Startups: From Idea to Exit”, “How to Startup” is your guide to starting the next big thing.
Lots of startups start with an idea, but that’s not always the case. Zillow actually didn't start with an idea; it started with a team. In early 2006, a group of us left Expedia together and sat in a conference room for months trying to come up with a startup idea. We didn't know what the startup would do, we just knew that we wanted to work together outside of Expedia.
Several of us were buying houses at the time and noticed the poor quality of online real estate resources. Partly just to pass time while we waited for inspiration to strike, we hacked together Seattle's county website data with real estate MLS data and Google Maps, and we jerry-rigged a user experience that helped us buy homes. It became clear that if this worked for us, it could work for other people. We then realized that the most important piece of information about real estate was still missing: determining the value of homes. Thus, an idea was born.
Sometimes finding a startup idea is not as easy as having a “light-bulb moment,” and other times the perfect idea hits when you least expect it. When ideating, there are a few things you should explore:
- Look for problems you want to be solved. I divide startups into two different categories: medicines and vitamins. Medicines are the ones that solve a problem and aim to create a new market, while vitamins are the ones that make your life a bit easier and democratize access to things. Sometimes finding a great idea is as simple as looking for things that dissatisfy your wants and/or needs.
- Look for things you’re passionate about. Something I frequently look for in startups as an investor is a personal connection between the founder who’s pitching and the problem that they’re trying to solve. See “The Founder-Idea Fit” below for more.
- Look for things with big TAM and low NPS. The Total Addressable Market (TAM) is the total possible market for your company’s product or service. You’ll want to look for a big market (>$10B) with lots of room for growth - like healthcare, education or real estate. One way to judge the quality of a startup idea is to assess how well it addresses a problem in an industry with a big TAM but a low Net Promoter Score (NPS). In other words, find a problem in a big industry where consumers are pretty unhappy with current services.
An Idea Versus A Good Idea
Once you have the inspiration, it’s time to determine whether your idea is good. It’s important to use your network and talk to consumers and to people in the industry to get a feel for what potential customers may want, but you should also have confidence in your idea on your own. Pro tip: don’t hoard the idea to yourself. It’s OK to go out and tell other people the idea to get feedback – the input that you get will outweigh the miniscule chance that someone steals your idea. When thinking critically about your idea, ask yourself and others the following questions:
- Does my idea solve a real problem? A common theme in startups is solving a point of personal frustration. While you certainly can try to make your own life easier, you also don’t want to create too small of a niche. If nobody wants your product, you don’t have a business.
- Why now? Why hasn’t anyone solved this before? There is a time and a place for every startup. There are several reasons why my company Pacaso launched when it did, and they contribute to its success today. 1) People are more comfortable buying real estate sight unseen right now than ever before. 2) There’s been a massive increase in second-home ownership interest because people have the option to work remotely. 3) Thanks to companies like Airbnb and the short-term rental industry, there’s already infrastructure in place for local property management. Ask yourself: if your startup idea is so great, how come no one has done it before? Many successful startups like GoPuff, Instacart and Doordash are recycled old ideas from 10-20 years ago, but the timing is now right for their success.
- Is it a feature or a company? Steer clear of creating a feature instead of a company. I personally invested in Vhoto, an iPhone app that took live photos as short videos. Vhoto failed because it was a feature not a company, as its functionality was simply added to the iPhone camera by Apple.
The Founder-Idea Fit
Founder-idea fit is a critical component of the startup equation and shouldn’t be overlooked. While there is no such thing as a single great founder, there is a great founder for a particular idea. A founder with little to no interest or passion for an idea, even if they are the one who came up with it in the first place, is more likely to fail than a founder who truly believes in something.
A perfect example of great founder-idea fit is Tim Ellis, who I featured on the Office Hours podcast back in 2020. Ellis previously worked at Jeff Bezos’ space company Blue Origin as a propulsion engineer and worked on the manufacturing process of rockets through 3D printing. He left the company in 2015 and founded Relativity Space with the mission of being the first company to launch a fully 3D-printed rocket into orbit. As a focused and innovative leader, Ellis and Relativity Space are on a rocket ride towards success, at least partly because of Tim’s focused infatuation with 3D printing rockets. Tim would not be the ideal founder for a marketplace selling portions of second homes like Pacaso, but he is the ideal founder for a business like Relativity Space. He feels like he was put on Earth to create this technology and he is relentlessly committed to its success. He has both a deep understanding of the task at hand and the abilities and passion to make it happen.
Now what?
Once you land on a startup idea you feel passionate about and the timing is right, you can move on to your next step: naming your startup. Check this space in two weeks for my tips on naming.
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Spencer Rascoff
Spencer Rascoff serves as executive chairman of dot.LA. He is an entrepreneur and company leader who co-founded Zillow, Hotwire, dot.LA, Pacaso and Supernova, and who served as Zillow's CEO for a decade. During Spencer's time as CEO, Zillow won dozens of "best places to work" awards as it grew to over 4,500 employees, $3 billion in revenue, and $10 billion in market capitalization. Prior to Zillow, Spencer co-founded and was VP Corporate Development of Hotwire, which was sold to Expedia for $685 million in 2003. Through his startup studio and venture capital firm, 75 & Sunny, Spencer is an active angel investor in over 100 companies and is incubating several more.
https://twitter.com/spencerrascoff
https://www.linkedin.com/in/spencerrascoff/
admin@dot.la
These Are LA's Top Venture Capitalists of 2022, According to Their Fellow VCs
06:00 AM | February 28, 2022
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On the heels of a record-setting year for Southern California’s startup environment, we asked more than 30 leading Los Angeles-based investors for their take on the city’s top venture capitalists. (Specifically, we prompted: “Which L.A.-based VCs impress you the most?”) They responded with the names of 45 peers that they admire—14 of whom made the following list by receiving two or more votes.
The results offer an insider’s view of the L.A.’s startup scene in 2022—which, even as it rapidly expands, remains an insular world led by a handful of key dealmakers, like the venture capital industry at large. This year, TenOneTen partner Minnie Ingersoll and Bonfire Ventures managing director Mark Mullen tied for the top spot, with five votes apiece; they were followed by Wonder Ventures managing partner Dustin Rosen, who received four votes. Behind them, five VCs tied for third place with three votes each, while another six investors round up the list with two votes apiece.
Like last year’s list (which also featured Bonfire’s Mullen in the top spot), the below results are sorted by the number of votes each VC received; where there were ties, we list the investors alphabetically by their last names. As always, we asked survey participants not to vote for any of their colleagues—and vetted the list to ensure they stuck to that rule.
Without further ado ado, here are LA’s top VCs of 2022, as judged by their peers.
Minnie Ingersoll, TenOneTen Ventures
Minnie Ingersoll, TenOneTen Ventures (5 Votes)
Minnie Ingersoll is a partner at early-stage venture firm TenOneTen, whose recent investments include crypto travel rewards startup FlyCoin. Prior to TenOneTen, she co-founded Shift Technologies, an online marketplace for buying and selling used cars. Ingersoll also spent more than a decade at Google, where she focused on the tech giant’s fiber optic, advertising and charitable efforts. (She also hosts dot.LA’s LA Venture podcast.)
Mark Mullen, Bonfire Ventures
Mark Mullen, Bonfire Ventures (5 Votes)
Mark Mullen is co-founder and managing director of Bonfire Ventures, an early-stage venture firm that backs business-to-business (B2B) software startups. (Recent investments include cloud communications startup Telgorithm.) Mullen previously managed venture funds Double M Partners and Mull Capital. In January, an SEC filing revealed that Bonfire aimed to raise $165 million for its third fund. (Disclosure: Mullen is an investor in dot.LA.)
Dustin Rosen, Wonder Ventures
Dustin Rosen, Wonder Ventures (4 Votes)
Dustin Rosen is the founder and managing partner of Wonder Ventures, an early stage investor in companies including L.A.-based unicorns Whatnot and Bird. Earlier in his career, Rosen founded the fashion app Pose and was a senior associate at the Mail Room Fund. Last month, Wonder launched a $31 million fund focused exclusively on early-stage L.A. startups.
Jim Andelman, Bonfire Ventures
Jim Andelman, Bonfire Ventures (3 Votes)
Alongside Mark Mullen, Jim Andelman is a co-founder and managing director at Bonfire Ventures, an early-stage venture firm focused on B2B software startups. Previously, he oversaw software deals for Bay Area investment firm Broadview Capital Partners.
Anna Barber, M13
Anna Barber, M13 (3 Votes)
Anna Barber is a partner at M13, a venture firm focused on early-stage consumer tech companies. (Recent investments include NFT startup Unblocked.) Barber is also an advisor to the USC Marshall Venture Fund. She previously led Techstars LA as its managing director and co-founded Scribble Press, a New York-based book publishing startup. (Disclosure: M13 is an investor in dot.LA.)
Eva Ho, Fika Ventures
Eva Ho, Fika Ventures (3 Votes)
Eva Ho is a general partner at Fika Ventures, a seed-stage firm that focuses on sectors including AI, automation and big data. Ho formerly worked at Google and served as entrepreneur-in-residence for the city of Los Angeles.
Jeff Morris, Chapter One
Jeff Morris, Chapter One (3 Votes)
Jeff Morris is the founder and managing partner of Chapter One, a venture firm targeting early-stage web3 startups. The former Tinder executive’s previous investments include Dapper Labs, Lyft, Cameo and PearPop.
Dana Settle, Greycroft
Dana Settle, Greycroft (3 Votes)
Dana Settle is a co-founder and managing partner at Greycroft, which has backed consumer-focused startups including Acorns, Goop and Bumble. The Lehman Brothers alum helped Greycroft close two funds worth nearly $700 million combined in late 2020. (Disclosure: Greycroft is an investor in dot.LA.)
Josh Diamond, Walkabout Ventures
Josh Diamond, Walkabout Ventures (2 Votes)
Josh Diamond is a general partner at Walkabout Ventures, a seed-stage venture firm that primarily targets fintech startups. Diamond previously served as a principal investor at Clocktower Technology Ventures.
Buck Jordan, Wavemaker Labs
Buck Jordan, Wavemaker Labs (2 Votes)
Buck Jordan is the founder and CEO of Wavemaker Labs, which funds and incubates startups in partnership with larger corporations. Wavemaker has especially targeted the food industry supply chain space—backing automated technologies at both the agricultural and food preparation stages that deploy AI and robotics.
Kara Nortman, Upfront Ventures
Kara Nortman, Upfront Ventures (2 Votes)
Kara Nortman is a managing partner at Upfront Ventures. An alum of IAC, Battery Ventures and Microsoft, Nortman previously co-founded children’s ecommerce startup Moonfrye and also helped launch women’s professional soccer club Angel City FC. Upfront raised $177 million for a new fund in January; local portfolio companies include GOAT, Creator Now and Endgame. (Disclosure: Upfront Ventures is an investor in dot.LA.)
Spencer Rascoff, 75 & Sunny
Spencer Rascoff, 75 & Sunny (2 Votes)
Spencer Rascoff is a co-founder and general partner at 75 & Sunny, a venture firm and startup incubator. Focused on sectors including proptech and ecommerce, Rascoff previously co-founded Zillow, Hotwire.com and real estate platform Pacaso (Disclosure: Rascoff is the co-founder and executive chairman of dot.LA.)
Adriana Saman, Clocktower Technology Ventures
Adriana Saman, Clocktower Technology Ventures (2 Votes)
Adriana Saman is a principal at Clocktower Technology Ventures, a venture firm investing in early-stage fintech startups across the U.S., Europe and Latin America. Saman was previously an analyst at JPMorgan Chase.
Sara Zayani, Global Founders Capital
Sara Zayani, Global Founders Capital (2 Votes)
Sarra Zayani is a partner at Global Founders Capital. The Greycroft alum has led Global Founders’ investments in local startups including Cann, Universal Hydrogen and Pacaso.
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los angeles tech sceneventure capitalminnie ingersollmark mullendustin rosenjim andelmananna barbereva hojeff morrisdana settlejosh diamondbuck jordankara nortmanSpencer Rascoffadriana samansara zayanivc sentiment survey
Harri Weber
Harri is dot.LA's senior finance reporter. She previously worked for Gizmodo, Fast Company, VentureBeat and Flipboard. Find her on Twitter and send tips on L.A. startups and venture capital to harrison@dot.la.
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