Tuesday, December 29, 2015
Samsung Pay plans a major expansion in the United States next year. Users will be able to make purchases on websites with Samsung Pay, which puts it into more direct competition with services like Paypal, Reuters reports. The mobile wallet platform will be also available on lower-end Samsung smartphones, not just flagship models like the Galaxy S6 Edge.
In an interview with Reuters, Samsung global co-general manager Thomas Ko said Samsung Pay will roll out to more smartphone models next year. The payment platform launched in the U.S. in September and has an advantage over competitors because it can emulate magnetic stripe cards thanks to Samsung’s acquisition of LoopPay, in addition to using NFC technology like Apple Pay and Android Pay.
This means Samsung Pay works with a wider assortment of existing point-of-sale equipment than Apple Pay or Android Pay does.
Ko claims that Samsung Pay is already the most widely accepted mobile payments system in the U.S. because it is compatible with most credit card terminals. Mobile wallets haven’t quite taken off in the U.S. yet, but getting people accustomed to using their stored financial information in Samsung Pay for online purchases may convince them to pull out their smartphones at cashier stands, too.
Sunday, December 27, 2015
LinkedIn Rival Viadeo Exits China
Viadeo, the French rival to LinkedIn, is to exit China in order to focus on becoming a profitable business. In a further cost-cutting move, it will also shutter its data center in California and migrate to the cloud.
The company moved into China eight years when it acquired local professional social network Tianji.com, but that site will cease to exist once it is closed down on December 31. Viadeo claims that Tianji has 25 million users, but it has struggled to attract the “very considerable development resources” necessary to drive it forward in “China’s fiercely competitive market”.Viadeo had planned to use one-third of the proceeds from its 2014 IPO to develop Tianji.com, but the listing didn’t raise enough capital and the firm wasn’t able to pull in money from private investors.
“In the first half of 2015 the company went looking for an investor, buyer or local partner, who could guarantee stability and commitment to support it in this market,” Viadeo said in a statement. “However, China’s changing economic conditions marked by a historical slowdown in growth, a major financial crisis in the summer of 2015 and repeated devaluations of the nation’s currency dashed hopes of identifying such a partner.”
Post-China, Viadeo said it will refocus on its home market of France and other French-speaking countries, while putting great emphasis on its B2B sales model.
Viadeo’s foray into China was a fascinating one, since it doubled down on the country in 2011, a time when Twitter and Facebook were heavily linked with opening local operations there. The company two-sided play — having a global site (Viadeo.com) and a China-only one (Tianji.com) — was a model that both of the U.S. social networks had reportedly shown interest in.
In contrast to Viadeo’s troubles in China, LinkedIn seems to be finding some success there. The U.S. social network opened a joint-venture with Sequoia China last year. LinkedIn China isn’t a totally separate site, but it does block some content from China based on the country’s web censorship regulations.
Posted by preeti at 9:54 PM 0 comments
Labels: Technology
Monday, December 21, 2015
The perfect son
A: I have the perfect son.
B: Does he smoke?
A: No, he doesn't.
B: Does he drink whiskey?
A: No, he doesn't.
B: Does he ever come home late?
A: No, he doesn't.
B: I guess you really do have the perfect son. How old is he?
A: He will be six months old next Wednesday.
B: Does he smoke?
A: No, he doesn't.
B: Does he drink whiskey?
A: No, he doesn't.
B: Does he ever come home late?
A: No, he doesn't.
B: I guess you really do have the perfect son. How old is he?
A: He will be six months old next Wednesday.
Posted by preeti at 12:18 AM 0 comments
Labels: Jokes
Sunday, December 20, 2015
Why Business Leaders Need To Take On The Education Revolution
Have you hired someone straight out of college in the last decade? If you have, it comes as no shock that today’s education system simply isn’t creating job-ready employees. Far from the differentiator it once was, the college diploma has become an expensive check box in the HR process.
Let’s cut to the chase: You need experience to be relevant in today’s demanding job market. Period.
Most graduates, regardless of their progression within higher education, are simply not presented with the opportunity to learn and exercise skills employers really need. According to a study by McKinsey and Company, 72 percent of educational institutions believe recent graduates are ready for work. Here’s the kicker: only 42 percent of employers agree. The overwhelming majority of these employees will need to learn on their own to close the skills gap.
So what can we, as business leaders, do to make sure the workforce of the future is getting what they need? It’s a matter of acknowledging the problem, realizing what this means for businesses and actually doing something about it.
The Problem: Workers Aren’t Coming To Interviews Equipped With The Skills They Need
I’ve been in the tech industry for well over a decade, and in the business world for twice that. When hiring, we often find ourselves looking for candidates with a particular set of both hard and soft skills. Many of these skills revolve around problem solving, time management and creativity — on top of a ton of real-world experience. We’re looking for a business-side Liam Neeson in the Taken movies: a very particular set of skills.
The problem is that these types of skills simply aren’t the ones you’d get in school. As Harvard Professor David Edwards wrote for Wired Magazine, in today’s system “we ‘learn,’ and after this we ‘do.’ We go to school and then we go to work. This approach does not map very well to personal and professional success in business today. Learning and doing have become inseparable in the face of conditions that invite us to discover.”
When candidates don’t have the skills we want, we don’t hire them — so they don’t pick up any new skills. It’s a vicious cycle we need to break.
Why Should Today’s Business Leaders Care?
You want skilled candidates filling your open positions, right? Then this should matter to you. We can’t rely on the systems currently in place to solve this problem on their own. Universities move at a glacial pace. The most common tools in the workplace (like Google, database systems or analytics software) are seldom seen in the classroom.
When a new employee encounters them in the workplace, they have no manual, context or past experience for learning how to thrive with these tools they’ve never seen. Teaching to test, rather than to skills, extinguishes desirable traits like creativity and innovative thinking in that student. Over the years, these traits disappear. The result is an education system that stifles the minds of today’s youth, destroying the creativity students need for success.
Employers need to hop the fence and help educators build programs that encourage creative thinking. We’ve made failure a positive thing in business settings. Now, let’s figure out how to nurture that skill in the classroom.As successful leaders, we need to make ourselves the solution. We are the teachers our students truly need, the successful practitioners who excel at the positions those students want to obtain. Rather than generalization, we must push for specialization by inclination. If a student is naturally inclined to create awareness and understanding, why aren’t we pairing him or her with a successful individual who will foster those skill sets, rather than muting such a coveted trait?
I recently participated in a standards validation committee for the Arizona Department of Education to make sure learning requirements for students in sales and marketing were up to date and correct. I was blown away and, to be honest, a little embarrassed by what was currently being taught. Even if a student earned an A+ on all the current skills, I wouldn’t hire them. They just aren’t the right skills.
That’s why I’ve devoted much time and experience to creating a curriculum that actually teaches what I need my best people to know. Sure, it took billable hours away from my day. But I’m invested in making sure experience and innovation become skills required of each student at graduation. I want graduates to be people I’d hire.
So I’m making sure creativity, a mostly suppressed trait in today’s system, is squarely at the root of most of what these students will learn. Whether it’s solving a problem or completely changing the perspective that understood the problem, creativity is key.
It’s Up To Us As Business Leaders To Make A Change
It’s clear at this point that we, as leaders, can’t simply wait around for the tide of education to change on its own. We have the experiences, expertise and resources to make a shift — and as such, we have to do something besides whine about how no skilled candidates are coming our way.
A lot of this can start before a student ever graduates. We’ve all heard it before: We need to get involved. Hire high school students for projects in your office. Let them use real tools. If you want an intern to learn more than how to get coffee, you have to let them do more than make coffee runs.
These days, nearly every office has some sort of database that needs to be reviewed. Have them start there. Yes, it’s boring work. But it’s also essential to gain familiarity with technology and working with data — and it’s something they’d never do in school. These are your future employees, after all.
Educators and employers alike also need to stop looking at single mistakes as catastrophic failures. This is a big one. Mistakes happen. Every day, multiple times per day. Today’s top companies view them as critical learning experiences. Facebook’s now famous “move fast and break things” motto still isn’t welcome in academia. Trying to insulate students from failure makes them afraid to take risks. As anyone in modern-day learning and business will agree, failure is the best recipe for success.You’re also going to need to make this skill shift a priority within your existing workforce. Many companies say they have mentorship programs, but don’t invest time or money into it. Encourage your highest achievers to become teachers. It’s not beneath them to work with the newest hires or interns, and you as a leader shouldn’t force them to cram this in around client work. Be willing to invest in training for your existing employees, too. Learning is something that should never cease.
We must fail if we are going to learn and grow — a branch gets stronger at the broken parts, as the motivational speakers say. Make sure your workplace welcomes failure, on resumes and in day-to-day innovation.
Whether you’re a company leader, hiring manager, expert or a job candidate, you have a stake in addressing this issue. The education revolution is upon us. The only problem is that it should have kicked off two decades ago. We’re overdue for change, and change is hard. We need the creativity we’ve been stifling for more than a century to destroy the system, before it finally destroys us.
Posted by preeti at 10:59 PM 0 comments
Labels: Technology
Wednesday, December 16, 2015
Mist Of Waterfall, A Sunny Day Waterfall
On a sunny, hot, windy day
chirping birds come my way
Comfortable, beautiful, smashing
When water comes down and crashing
Relaxing, misty air
When people come they will stare
Sweet, pine, wet
People will never forget
chirping birds come my way
Comfortable, beautiful, smashing
When water comes down and crashing
Relaxing, misty air
When people come they will stare
Sweet, pine, wet
People will never forget
Posted by preeti at 10:42 PM 0 comments
Labels: Poems
Tuesday, December 15, 2015
Slack Launches App Directory And Joins Top VCs For $80M Fund Backing Developers
Slack just hatched a master plan to ensure it becomes the social and collaboration hub of the enterprise. It’s harnessing all its Silicon Valley hype to create rocket fuel for its growing app platform.
Slack wants to lock in the 2 million daily active users and 570,000 paid seats it now has. That means getting developers to build Slack apps beyond the 150 like Dropbox and Twilio that it’s now showing off in its new App Directory, which we reported on Monday was coming.
So tonight Slack announced it’s teamed up with its investors, who happen to be the Bay Area A-list of VCs — Accel, Andreessen Horowitz, Index Ventures, KPCB, Spark, and Social+Capital. Together they’ve thrown in $80 million for a Slack-first fund.
It will back enterprise software developers making Slack integrations part of their core product. Slack and its VCs want these developers to make Slack more useful and convenient with apps for doing all sorts of things in the workplace.
The Slack Fund has already made three investments: Howdy, Awesome and Small Wins.
The $80 million basically guarantees there will continue to be a healthy Slack platform. Competitors who copy its core messaging features can’t copy the developer ecosystem. That could give Slack an edge on HipChat and other competitors.
The fact that Slack was able to raise this fund shows just how much VCs believe in it. If they can’t buy more Slack equity, they’ll ensure their existing investment by pledging to back its platform. Even if the Slack Fund investments don’t turn into huge exits themselves, they’ll increase the likelihood that Slack wins big.
Posted by preeti at 10:43 PM 0 comments
Labels: Technology
Sunday, December 13, 2015
Alibaba Confirms It Is Buying The South China Morning Post For $262M
Alibaba has jumped into the news business after the Chinese company confirmed on Friday that it has agreed to acquire the South China Morning Post (SCMP) following weeks of rumors. The Hong Kong-based newspaper and SCMP Group’s other assets, which includes local editions of Esquire and Elle, will cost Alibaba a little over HK$2 billion — around US$262 million — according to a regulatory filing.
Alibaba didn’t disclose the cost of the deal when it was announced late on Friday — at nearly 9pm China time to be precise. That’s an awfully suspicious time, and it suggests that the e-commerce giant was trying to avoid creating headlines with this deal.
Why would Alibaba want to bury this news, or at least minimize the coverage? Many reasons, most of which are fairly obvious. Corporate companies owning media is a dicey topic at best — case in point: Amazon’s purchase of the Washington Post — but when you throw China into the mix, the waters are further muddied.
For its part, Alibaba tried to make its intentions clear.
In a letter to SCMP readers, Alibaba executive chairman Joe Tsai said that the company would not exert pressure on the paper’s work, but instead intends to use its resources and digital savvy ” to take the SCMP to the next level.”
In particular, Tsai argued, there’s a need for stronger coverage of China:
Some have suggested that ownership by Alibaba will compromise the SCMP’s editorial independence. This criticism reflects a bias of its own, as if to say newspaper owners must espouse certain views, while those that hold opposing views are “unfit.”In fact, that is exactly why we think the world needs a plurality of views when it comes to China coverage. China’s rise as an economic power and its importance to world stability is too important for there to be a singular thesis.In reporting the news, the SCMP will be objective, accurate and fair. This means having the courage to go against conventional wisdom, and taking care to verify stories, check sources and seek all viewpoints. These day-to-day editorial decisions will be driven by editors in the newsroom, not in the corporate boardroom.
The problem here is that SCMP, which is over 100 years old and often viewed as an indicator of press freedom levels in Hong Kong, already faces criticism for shaping its coverage of China with a more positive stance than other outlets.
Once believed to be the most profitable newspaper in the world, SCMP has been accused of burying news that it is sensitive to authorities in Beijing. An Al Jazeera report last August suggested that “the paper’s editorial line on China is looking more and more as if it was crafted in Beijing.”
It is not uncommon for media to be accused of bias, every human on earth has opinions and, as journalists, they can shape the nature of storytelling. But the accusations levied against SCMP are most substantial than that. They are claims that the newspaper is distorting coverage of China so that it is more favorable.
So, enter Alibaba. A corporate company that would clearly like the world to know more about China — and, if possible, think better about the country.
Tsai put it best himself in a New York Times interview.
“What’s good for China is also good for Alibaba,” he is quoted as saying.
That — as Tech In Asia pointed out — puts Alibaba in a troubling and seemingly no-win situation. Last year, readers could complain that apparent bias in a story was down to SCMP’s editorial position. But now, under its new ownership, Alibaba will bare the brunt of criticism. Irrespective of whether it is influencing editorial decisions, that situation would reflect poorly on the company which would be seen to be currying favor and distorting realities. Very unattractive qualities for a company that is listed in the U.S..
Alibaba has been in the media business a while with Alibaba Pictures, a sports group, an investment in Chinese media firm CBN, a pending deal to buy Youku Tudou — China’s largest video streaming site — and a Netflix-like streaming service, but this is its most controversial venture yet.
As for immediate actions, Alibaba has said it will lift the paper’s digital paywall — which set a limit to the number of stories a non-paying reader could view each month — while it has also cancelled SCMP’s proposed acquisition of e-commerce startup MyDress. That deal, which waspreviously announced in October, was to be a pivot to help make money from commerce services but, thanks to Alibaba’s deep pockets, it has been deemed unnecessary now.
Posted by preeti at 10:23 PM 0 comments
Labels: Technology
Wednesday, December 9, 2015
Yahoo Scraps Plan To Spin Off Alibaba Stake, But Will Split Into Two
Yahoo has today confirmed rumors it is scrapping a plan to spin off its stake in Chinese ecommerce company Alibaba. Its shares are up in pre-market trading on the news.
The Yahoo board had been reported to be considering its options on this front this month. An earlier rumor of this plan caused Yahoo shares to spike 7 per cent.
CEO Marissa Mayer said in June the company would move forward with the spinoff of its stake in e-commerce giant Alibaba, having revealed a plan to do this at the start of this year.
However in recent weeks there has been uncertainty about whether or not a spin-off of the stake, worth some $32 billion, would be taxed — with investors fearing a high tax bill and activist Yahoo shareholders threatening a fight.
Today, after what the company said was “careful review and consideration of how to best drive long-term value for shareholders”, the Yahoo board has unanimously voted to suspend the plan to spin off the Alibaba stake.
It said it will instead work on the reverse option for separating the stake — which means it’s planning to transfer all Yahoo’s assets and liabilities other than the Alibaba stake (i.e. its core Internet business) to a newly formed company, thereby creating two separate, publicly-traded companies.
The thinking being this reverse spin off route is less likely to spook investors and the markets with fears of Yahoo incurring a big tax bill.
The bifurcation will still require various third party consents — including shareholder approval and SEC filings and clearance. And even with all that, Yahoo said it may take more than a year for the transaction to be completed.
Commenting in a statement, Mayer reiterated her view that the “ultimate separation of our Alibaba stake will be important to our continued business transformation” — pushing the perception that it’s not the overall strategy that’s being rethought here, just the route to get there.
“In 2016, we will tighten our focus and prioritize investments to drive profitability and long-term growth. A separation from our Alibaba stake, via the reverse spin, will provide more transparency into the value of Yahoo’s business,” she said.
However, a Yahoo separated from its high value Alibaba stake could be a target for acquisition, given how little worth is attached to the rest of the company’s assets and business.
According to the FT, several private equity firms and media/Internet advertising firms are interesting in looking at an acquisition of Yahoo. While on Monday telco Verizon* said the group would explore a possible acquisition of the company if it were up for sale.
Without its core Internet business Yahoo would be a very different business: a company with a 15 per cent stake in another ecommerce giant, but no longer an active web player itself — unless Mayer’s plan for Yahoo’s transformation really is a much tighter focus. So more a total reboot than a turnaround of a struggling, veteran web company.
Mayer was hired from Google to be Yahoo’s CEO back in July 2012 with the company saying at the time that she would lead “a renewed focus on product innovation to drive user experience and advertising revenue”.
Three years later the company’s products still struggle to stand out and keep pace, especially with app innovation in the mobile industry. While it faces continued stiff competition on the ad revenue front from the likes of Google and Facebook, although Mayer did ink a new three-year search ad deal with Google this fall.
Commenting on Yahoo’s plans, Andrew Frank, research VP analyst Gartner, told TechCrunch: “I think there’s still a possibility that Yahoo’s core business could continue to evolve independently into a successful diversified digital media company, but it seems clear there will be a lot of investor pressure if it takes this road.”
“I take Marissa Mayer at her word when she says the separation will provide more transparency into the value of Yahoo’s business. Optimistically, this could give Yahoo more maneuverability in M&A activities beyond a fire sale scenario.”
Frank added: “I’ve long held the view that Yahoo is better positioned as a media company than a technology innovator, and that success in media requires overseeing a portfolio of content brands. If Yahoo can’t do this itself then it will be better off joining an organization that allows it to focus on delivering content and advertising and cultivating audiences.”
Posted by preeti at 10:50 PM 0 comments
Labels: Technology
Monday, December 7, 2015
American Express Backs Mexican Fintech Startup Clip As Emerging Markets Warm To Financial Startups
Investment in new financial technologies is exploding globally, and as traditional players look for opportunities they’re increasingly turning their attention to technology companies in emerging markets.
The latest company to benefit from the newfound attention on technologies to facilitate payments and credit and debit card adoption in emerging markets is the Mexican startup, Clip, which raised $8 million in a Series A round (one of the largest in the country’s largest early-stage investments).
Launched in 2013 by two former PayPal employees, Adolfo Babatz and Vilash Poovala, Clip is aiming to be the Mexican equivalent of Square, with a mobile payment service that allows small merchants to accept credit and debit cards — and online payments.
The company has its roots in work that the two co-founders were doing at PayPal. “We were very bad at selling this internally about how big this could become,” Adolfo says. “Nine months later Square came out.”
Based in Mexico City, but with developers and engineers in Menlo Park, Calif., Clip is trying to stay true to its California roots while it explores what Adolfo says is a massive opportunity in the Mexican market.
The company estimates that there are 11 million businesses that could potentially use Clip’s payment services, and unlike the U.S. where penetration rates for card payment systems is at roughly 50%, in Mexico that number looks more like 9%.
So there’s nothing but room to grow, according to Babatz, in a market where the only competitors are the Stockholm-based payment technology company iZettle, and cold, hard cash.
Clip’s launch comes as interest in financial technology companies has reached a fever pitch. Last year, investment in financial technologies reached $12.21 billion globally, and international investors began spending some of that money outside of their home countries.
The Nigerian mobile money company, Paga, raised funds from a syndicate including Adlevo Capital and the Capricorn Investment Group; and last year Union Square Ventures invested $1.1 million in the seed round for Sr. Pago, a Mexico City-based mobile payment platform.
Clip’s first partner is American Express, which represents 30% of the total payment volume in Mexico, but only has 3 million of the roughly 30 million credit and debit cards in use in the country.
Now, there are contracts with American Express, Banorte, Banamex and Bancomed, says Babatz.
Posted by preeti at 4:33 AM 0 comments
Labels: Technology
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