Omise lands $17.5M Series B to expand its Stripe-like service in Southeast Asia


Omise, a Bangkok-based payment enabler much like Stripe, has raised a $17.5 million Series B round to expand its reach across Southeast Asia.
The company proves a payment gateway system that allows any retailer take credit card payments online. That’s long been a problem in Southeast Asia, which is compromised of six major countries, each of which requires a different payment solution — Omise is trying to offer a one-stop shop. Right now, its service is available in Thailand and Japan (the birthplace of CEO Jun Hasegawa), but there are plans to expand to Indonesia, Singapore and Malaysia, where it has carried out closed testing, in the coming months. Beyond that, Omise is looking at reaching Vietnam, the Philippines, and Mekong countries like Burma, Laos and Cambodia at a later date.

Tinder Social, helping friend groups plan their night out, launches globally

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Get ready for a new era — Tinder is about to launch Tinder Social globally.
What is Tinder Social, you might ask?
Well, Tinder Social is exactly the social planning app that has failed in the past, but backed by the world’s biggest young adult dating app.
Tinder, the dating app to rule them all, has long teased other verticals for meeting and creating connections with the people around you. The company launched Tinder Social as a beta in Australia, and is now ready to go live with the idea.
Tinder cofounder and CEO Sean Rad says that the company has learned a lot from the beta.
Originally, the beta gave groups of friends the option to match and later meet up via chat.
“Our users were very much focused on immediacy and cared about what they wanted to do tonight,” said Rad. “We made a considerable amount of changes to how it works since the Australia launch and oriented the entire product around going out tonight.”
With Tinder Social, users can choose to add friends to their group via Facebook, and then match with other groups that are in the area.


If one member of both parties matches with the other group, all members of each group see that as a match in their inbox, gaining access to the group-chat that includes both groups. In other words, group matches have to be mutual (albeit from just one member of each party), just like they do with romantic connections.
Another concern with the launch of the Australian beta was the automatic opt-in to Tinder Social.
With the feature ‘unlocked’, users can see the Tinder profiles of all of their Facebook friends using the app. This was seen as a bit of a privacy fail, considering that most folks don’t want their Tinder profile up for public viewing.
The public launch of Tinder Social is opt-in, with users having the option to turn on both regular Tinder and Tinder Social, or one version of the app at a time. Users with both versions of the app unlocked will see both individuals and groups in their feed.
Tinder was founded under the same premise of real-world connections — it’s supposed to replicate the moment when you make googly eyes at someone across the bar.
With the release of Tinder Social, the IAC-owned company is looking to replicate the same behavior that seems to create genuine relationships in the real world — meeting people through mutual friends.
 
Users who have opted in to Tinder Social can designate their status for the night, among a few options, and let their friends know what they’re up to. They can also create groups via Facebook connections that will allow them to match up with other groups, who are also going out, on the Tinder platform.
That said, the ability to view the Tinder profiles of Facebook friends will still be available once users opt in to Tinder Social.


“Everyone’s Tinder profile is essentially ‘out there,'” said Rad. “In many ways, Tinder profiles are public and we make that clear when you sign up in our Terms of Service. But we learned a lot from the Australia launch and we want it to be an opt-in experience.”
If it seems complicated, that’s because it kind of is.
Throughout the history of social media platforms, social planning apps have thus far not worked. We’ve seen a number of apps try to accomplish the feat of communication between groups and mutual friends, and yet all of them have fallen short.
And people keep trying.
Rad says that Tinder, on the other hand, has the scale to make it work.
“This hasn’t existed on a platform with tens of millions of users,” said Rad. “People will learn it and adopt it, and it will, by design, break the ice for people who want to make friends with other friend groups but find it a little awkward in a real-world situation.”
Tinder Social is a new frontier for the dating company, which has long envisioned tackling other verticals but has waited to do so until dating was stabilized and dominant.

MasterCard jumps into UK payments technologies, buys VocaLink for up to $1.14B



For those keeping tabs, one more big tech company built and operating in the UK has been snapped up by another company from abroad. Today, MasterCard Inc. announced that it has agreed to acquire 92.4% of VocaLink — the tech giant behind the UK’s ATM, direct debit, and major mobile payments networks — for $1.14 billion in an all-cash deal: £700 million ($920 million) initially, with the potential for an earn-out of up to an additional £169 million (approximately US$220 million), also in cash, if performance targets are met.
The remaining 7.6% of the company will continue to be owned by VocaLink’s shareholders for a period of at least three years, said MasterCard in its announcement.
In 2015, VocaLink had revenues of £182 million ($240 million) and processed more than 11 billion transactions.
The deal is the second major exit for a British company this week, after Softbank announced on Monday that it was acquiring chip reference design maker ARM Holdings for $32 billion.
Many have raised the issue of whether more deals will get made now because of the lower value of the British pound in the wake of the “Brexit” vote for the UK to leave the European Union. Softbank’s CEO Masayoshi Son denied this was the case. MasterCard says the same applies here.
“As you can imagine it has been worked on for many months,” a spokesperson told us about the deal. “MasterCard has been keen to acquire VocaLink for many months before the Brexit vote even took place. Brexit isn’t a factor in this transaction.”
For now, MasterCard says that it is buying the company to fill out its strategy to be an “active participant in all types of electronic payments and payment flows and to enhance its services for the benefit of customers and partners.” It also says it wants to play a more strategic role in the UK payments ecosystem.
“We’re excited about the opportunity to play a bigger role in payments in the UK, a very strategic market for us,” Ajay Banga, president and CEO, MasterCard, said in a statement. “VocaLink is a unique company with outstanding technology, assets and people. We look forward to investing in and maximizing the technology, and embedding it in our products and solutions, both in the UK and around the world.”
The deal comes as more companies from abroad are looking to tap into payments and the UK’s general embrace of consumerism and spending money. Yesterday we reported that there is evidence that Square is also gearing up to finally open for business here, too.
In addition to operating those three major payments networks of ATMs, BAC-based direct debits and Faster Payments (the mobile tech), which cover transactions made by just about every British resident, VocaLink, which was founded in 2007 and appeared to have no venture backing, also has built other services and for other markets outside of its home country.
They include ZAPP, a mobile payments app that leverages Fast ACH technology; and it also licenses its software and provides services to support ACH activities in Sweden, Singapore, Thailand and the United States.
That gives you a sign of how MasterCard may hope to develop its business going forward, too, although it will continue to keep the UK as its focus.
“Today’s announcement is positive news for our partners, customers and employees,” said David Yates, CEO, VocaLink, in a statement. “We will continue to focus on ensuring that the UK systems perform seamlessly, maintaining the highest levels of quality. At the same time, we’ll invest in further innovation to power competitive payments solutions for consumers and businesses around the globe.”
MasterCard said it expects the transaction to be dilutive for up to 24 months after the deal closes. “If the deal closes in early 2017, the company currently estimates the transaction would be 5 cents dilutive to each of 2017 and 2018 earnings per share,” it noted.

Samsung invests $450M in Chinese electric car firm BYD



On Thursday, Reuters reported that Samsung invested $450 million in BYD Company Ltd., a Chinese automaker and rechargeable batteries firm. The Korean smartphone giant clearly isn’t about to let Google, Apple and Tesla have all the automotive fun.
Samsung said just last week that it was in negotiations with BYD to help improve the company’s automotive chips. But in a press release, BYD said it will initially pour Samsung’s investment into the growth of its battery production and research and development of new-energy vehicles.
Samsung is in good company with the investment, too. BYD is backed by Warren Buffett’s Berkshire Hathaway Inc., which owns just over nine percent of the Chinese company. The Chinese company makes everything from gas-powered cars to hybrids, electric vehicles and even solar paneling.
After purchasing this stake into BYD, let’s see if Samsung makes additional moves to secure footing in the automotive industry. Google is leading the way for self-driving testing, and Apple is reportedly working on its own autonomous car. Both companies also have infotainment software that have become default features for a wide range of auto manufacturers with Apple CarPlay and Android Auto. Samsung needs to play catchup

Combine design thinking and digital health to provide for the underserved



“Don’t ever forget that you’re weird.”
Not exactly what I expected to hear, years ago, on the first day of my first business school marketing class. This advice is a good reminder that designing for oneself, while straightforward and enticing, will not have widespread impact.

BBC iPlayer Radio app now available in the U.S.


BBC does radio well, and now Americans can experience the full effect of the UK broadcaster’s audio content expertise with the iPlayer Radio app for iOS and Android. The app contains all of BBC’s radio feeds, including Radio 1 through 6, as well as the World Service. It also has offline support for BBC podcasts, and curated collections of past content.
The app was originally released for iOS back In 2012 (and on Android in 2013), but the native app experience was limited to UK-only listeners. Today marks the first time it’s been available to people in the U.S.

A seed grows in Boston

Naturally found microbes have the potential to increase crop yields. With $163.5M raised to date, Indigo thinks now is their big moment.

Across 1,000 acres of cotton plants in Arkansas, Tyler McClendon is running an experiment.
The seeds are the same, as are his company Oxbow Agriculture’s methods of growing them. But just ahead of planting the cotton seeds in April, Oxbow coated them with a special microbe not usually found in its cotton plants. Their presence is expected to increase McClendon’s cotton yield by about 10 percent.
The microbes are the first commercial product from Indigo, a Boston startup that is testing bacteria, fungi and other tiny organisms’ ability to improve crops’ hardiness. The company announced a $100 million Series C funding round today that will go toward expanding research and development, and to prepare for the launch of a similar product later this year targeting wheat.
Officially launched today, the cotton treatment contains bacteria harvested from cotton plants that Indigo observed continued to thrive even under drought conditions. The product is expected to give other cotton plants a similar ability.
Microbes are important to plants, but we only know how or why in a few use cases.
Despite humans’ use of microbes in agriculture for thousands of years, what companies like Indigo are doing is fairly new. We know microbes are important to plants, but we only know how or why in a few use cases. Indigo, along with other startups and some incredibly large competitors like Bayer and Monsanto, are racing to find novel microbes that boost plants in some way. They’re still focusing on singular microbes and plant stressors but expect some early victories.
“Right now there’s a lot of low-hanging fruit,” Indigo CEO David Perry said. “But increasingly, success will come to those who are the most sophisticated about how to do microbial isolation and sequencing and computational biology. That’s what we’re really investing in.”

Thousands of years in the making

More than 2000 years ago, the Romans began practicing what’s known as crop rotation. If you grow a crop in a field year after year, soil quality diminishes and leaves plants undernourished and more susceptible to disease. The Romans realized that by regularly switching which type of plant they grew or moving soil between fields, they could restore fertility and preserve the health of their farm.
Legumes were an especially effective addition to the rotation. Scientists wouldn’t discover for many hundreds of years that the roots of crops like lentils and peas are closely linked to bacteria that pull nitrogen — an essential plant nutrient — from the air and into the soil where it can be gobbled up by the legume plant. Any excess nitrogen nourishes whatever crop grows in the field next.
Crop rotation held on for hundreds of years, but in the 1900s a changing understanding of chemistry finally allowed farmers to plant the same crop on the same land year after year. Today, farms feed their plants with commercially produced nitrogen, not to mention insecticides and as much water as they need. Plants grow big and plentiful, but lose out on some of the natural benefits of older farming practices.
There are just a lot of different ways in which microbes can alter different aspects of a plant's physiology.
— Gwyn Beattie, Iowa State University plant pathology and microbiology researcher
We know now that modern farming practices can be harmful to the environment and potentially to human health. The organic food movement is just one reaction; farmers are also turning to sensors and data to reduce the amount of water, nitrogen and pesticides they need to apply to their plants.
GMO plants, which can be designed to stand up to environmental factors like drought and insects or simply to be more nutritious, are another modern solution. Unfortunately, they carry their own controversy. What’s certain is that with a growing population we need more food that can grow in a more sustainable manner. Indigo, along with its competitors, could be a new alternative.

On the verge

The 1980s kicked off a new era in our understanding of plant-microbe interactions. It was well-established that bacteria could fix nitrogen, and researchers began to expand their search for microbes with other beneficial properties. The science wasn’t advanced enough to bring a boom in plant probiotics, according to Iowa State University plant pathology and microbiology researcher Gwyn Beattie, but scientists took note of the field.
A few products eventually took off. While corn grown in a field year after year will breed pathogens in the soil, some crops such as wheat do not. Researchers finally discovered a bacteria associated with their roots that kills a fungal pathogen. Now, it’s commonly applied across the entire wheat-growing region of the Pacific Northwest.
Indigo falls into a relatively recent group looking into adapting plants to use less water. Other companies are looking at controlling specific diseases or stimulating plant growth.
“There are just a lot of different ways in which microbes can alter different aspects of a plant’s physiology,” Beattie said. “A lot of the mechanisms have been speculated. A few of the mechanisms have been demonstrated. Not many of these mechanisms have been exploited for commercial use yet.”

A numbers game

DNA sequencing and data processing are converging in such a way that you can relatively quickly and inexpensively determine an enormous amount of information about a microbe. Indigo has collected tens of thousands of plant samples from around the world in search of microbes, which Beattie said is the easy step. The hard part is actually finding a useful microbe. So far, Indigo has analyzed around 40,000.
“What makes one company stand out from another is how good the tests are that they’re performing,” Beattie said. “It isn’t like there’s only room for one cell phone. We have a lot of different crop plants and we have a lot of different environments and we have a lot of different problems. As long as each of the companies is focused slightly differently … then hopefully collectively agriculture is going to rise and improve.”
Indigo was founded in 2014 under the name “Symbiota.” Co-founder Geoffrey von Maltzahn was working out of Flagship Ventures — a Cambridge, Massachusetts-based VC firm that directly employs scientists — when he decided to begin collecting and analyzing microbes found in plants.
von Maltzahn had previously founded Seres Therapeutics, which finds and commercializes microbes to treat human disease. As Indigo’s company lore goes, he decided to take a similar approach to plants. While many researchers focused on the microbes found in the soil around plants — where billions of organisms that may or may not have a relationship with the plant can be found in every handful of dirt — he looked within.
“The approach that our founders had was based on a simple insight: Plants have been growing in that soil for hundreds of millions of years. If you want to find what microbes are good for the plant, then you should look inside the plant,” Perry said. “That approach has really paid dividends. It’s given us an enormous boost in our ability to find microbes — ones that have significant benefits.”
Historically, researchers have focused on microbes found in the soil around plants because of ease of detection. While they are incredibly important, microbes found within a plant are likely to have the closest relationship with it. Research into organisms that live inside plants increased ten-fold from 1995 to 2015. The spike is due in part to the development of tools that can detect and characterize the microbes, which are found in much smaller numbers than their soil-dwelling cousins, Beattie said.
We have a lot of different crop plants and we have a lot of different environments and we have a lot of different problems.
— Gwyn Beattie
Since its founding, Indigo has gone on to collect plant samples from around the world. There is beach grass, cotton and wild predecessors to corn–as much diversity as Indigo can find. They are shipped to Indigo’s office on the outskirts of Boston’s historic Charlestown neighborhood, where they sit in a freezer to await study.
In starkly white laboratory rooms lined with cluttered desks, a segment of Indigo’s 80-person staff spends its days isolating microbes from the plants, synthesizing their DNA and looking for markers that indicate they are similar to another microbe with a useful quality. Indigo’s team also studies methods for growing and applying the microbes and conducts field tests across multiple continents.
You need 40,000 plant samples to find just a few interesting microbes, because our understanding of how plants and microbes interact is still so limited. One microbe might improve drought tolerance by helping a plant to grow larger earlier in the season, while another might promote a larger root network that’s better at finding water. A specific bacterium might boost a plant in Texas and have no effect at all in Oregon. Indigo isn’t necessarily concerned with figuring out the mechanism that causes microbes to have a certain effect; they just want them to work.
And so by brute force they are analyzing them by the thousands, and then testing the promising candidates in grow rooms and out in the field. The company has filed more than 150 patent applications to date.

Some well-earned skepticism

That lack of understanding of what can be a very complicated relationship has left many farmers and scientists skeptical of anyone touting microbes as a quick fix. Beattie said it isn’t surprising to hear of a microbe that can increase growth by 10 percent. There are other labs claiming numbers much higher than that.
The question is whether what works in a lab and appears attractive in a research journal can translate to the field. It usually doesn’t. Jean-Michel Ané, who leads a lab studying plant-microbe symbiosis at the University of Wisconsin-Madison, said he has found few plant probiotic products marketed to farmers to have a demonstrable effect.
“The problem is that all the products that I have seen so far have very limited and very variable effects when you test them in real field conditions,” Ané said. “Sorry to be so negative, but there is a lot of foo-foo dust sold to farmers these days that does not work.”
In Indigo’s grow room — a room tucked into the back of its office that’s so brightly lit by a ceiling crowded with full-spectrum lamps you need to wear sunglasses — it’s possible to see microbe-treated crops growing at varying rates after being subjected to different stressors.
In a greenhouse overlooking Boston’s Charles River, I examined strawberry plants subjected to a similar variety of tests. Some microbe-treated plants had grown larger and produced more flowers, which is linked to more strawberries. Another set didn’t fare any better than the control plants.
There is a lot of foo-foo dust sold to farmers these days that does not work.
— Jean-Michel Ané, researcher, University of Wisconsin-Madison
The first farmers using Indigo’s cotton product are halfway through their first growing season. While McClendon said he is reserving a verdict for the end of the growing season when he knows just how much cotton he can harvest, he sees signs the Indigo microbes are having a positive impact.
Indigo is wooing farmers with an unusual business model. Instead of requiring them to buy its microbe treatment upfront, it will likely collect around a third of the profit generated by farmers’ increased crop yield.
“Farmers who otherwise take years to try the product out are compelled to try it out in a big way from the beginning, because there’s essentially a really big upside in crop production and little downside,” McClendon said.
Perry assured me Indigo’s microbes are safe. And in a world where a 10 percent increase in yield is impressive, he isn’t too worried about creating a super plant. They’re annuals, anyway, which means they need to be replanted each year.
If Indigo cotton and wheat take off, it will put the company at the forefront of an industry that could grow immensely over the next decade. Indigo plans to innovate quickly. While a GMO product can take 10-15 years to gain approval, Indigo can develop and release a new plant probiotic within 2-3 years. The company is already planning to target new crops and regions.
The science is finally there to find microbes that can help plants, according to Beattie. The money to back research is arriving, too.
“We’ve only really understood the tip of the iceberg for all this time,” Beattie said. “Without looking, a few (microbes) were known. Now that we are looking, there’s a lot of potential for discovery.”

Hopper’s travel app helps you pick the best dates, airports to save more money on your trip

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Fresh off its $16 million funding round from earlier this spring, popular airfare prediction app Hopper is moving beyond simply helping travelers figure out when to fly in order to snag the best deal. With the launch of Hopper 3.0, out this morning, the app will now also make personalized recommendations regarding how to adjust your trip plans to save more money, as well as point users to other travel deals.
Although there’s certainly no shortage of travel applications on the market today, Hopper has become – at least for me, personally – one of the most useful tools for trip planning.

Edward Snowden is working on an iPhone case



Most probably wouldn’t have anticipated a smartphone case being high on Edward Snowden’s to-do list, but an on-going collaboration with Andrew “Bunnie” Huang detailed today during an event at MIT Media Lab certainly comports with some of the NSA’s whistle blower’s chief concerns.
The iPhone peripheral is designed to monitor signals sent to the smartphone’s internal antennas to determine whether the device is transmitting data that can put users at risk of detection – particularly people in precarious positions like journalists in embattled areas.

Udacity wants to help you become a self-taught self-driving car engineer

Convenient that we just revealed self-taught autonomous car creator Geohot will be at Disrupt: Now you, too, can become a self-driving vehicle engineer, in one year, using Udacity’s newly announced nanodegree (via Recode).
Udacity is the online education startup helmed by Sebastian Thrun, a former Google employee who actually helped kick off that company’s self-driving car program before leaving to found his own venture. Thrun’s expertise should help ensure that Udacity’s program has solid educational substance, and Udacity’s nanodegree program (like a condensed, self-directed diploma)

Inkbox’s short-term tattoos raise $1M from Alison Sweeney, Jeff Probst and more

Inkbox’s two-week tattoos made waves when the company debuted its product on Kickstarter last year – Toronto-based founders Tyler and Braden Handley raised nearly $300,000 for their organic limited-time body art invention, which was a refinement of their original product offering that cut application time to just 10 minutes. A year later, they’ve raised $1 million in seed funding – from a list of angels that includes some familiar names.