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Saturday, 30 March 2013
Real-Time Demo Showcases Unreal 4 Game Engine's Power
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59 Digital Media Resources You May Have Missed
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Skype for Windows 8 gains contact blocking and performances improvements
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Huge Jellyfish Robot Is an Underwater Spy
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This TV stinks. No, really!
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Apple Patent Shows Sleek iPhone With Wraparound Display
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Drones Could Rescue Drowning Victims
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2020 US Census expected to move online, catch up with 2010
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Why Did This Smartphone Explode?
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Hands-on with Divekick's minimalist two-button controller (video)
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NASA JPL controls rover with Leap Motion, shows faith in consumer hardware (video)
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Facebook gets green light to build its second campus at California headquarters
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Drobo adds Copy cloud syncing and Plex media server apps for 5N owners
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Sequoia Capital In Singapore After A Year, Has Yet To Invest In A Local Startup
When Sequoia Capital India landed in Singapore quietly in 2012, the buzz around town was that a big-name US fund being in the country was going to really jolt the market and provide serious cred to the startups here.
The Indian team running operations here, however, appears to have spent the last year of its time in the island state helping its Indian funds expand into Singapore, rather than directly investing in startups here.
Singapore is a popular choice as a base for foreign companies looking to expand into Southeast Asia. Early last year, Sequoia Capital India MD, Shailendra Jit Singh, expressed interest in having the fund’s companies expand into the region. Sequoia Cap in the US also appeared to have been eyeing activity in Singapore for a while—it had its first offsite meeting in the country in 2011, and was in discussion with Singaporean Prime Minister Lee Hsien Loong about its presence here.
The Prime Minister’s Office oversees its R&D arm, the National Research Foundation (NRF), which has been busy backing local venture capital firms here over the past few years. Its Technology Incubation Scheme is a program that distributes seed funding to startups picked by 11 NRF-appointed VCs. The NRF matches investment values in the proportion of 85 percent to 15 percent—the larger portion dished out by the government. This allows the VCs here to provide bigger sums of seed capital to startups, with much of the risk absorbed by the NRF.
Former NRF projects head, Yinglan Tan, was also pulled over to Sequoia Capital India’s team in July last year, where he is now a venture partner based in Singapore.
When I ran into Tan in Manila a couple of months ago, he was evasive about the funds they’re looking at in Singapore, but was happy to try to set up meetings with their existing funds in Singapore—all Indian-based startups, except for Airbnb and Evernote. Some of these companies that are being incubated in Singapore by Sequoia Cap include Via, Druva, Mu Sigma, Idea Device and Practo.
The meetings never happened, but word on the street is that Tan has been meeting with some Singapore-based startups that are approaching Series A or B in size, and are looking to expand beyond the island. One that I know of provides Wi-Fi infrastructure.
As for its current startups here, Via is pretty sizable. It operates a flight booking portal similar to Expedia and Zuji, and has about 1,200 employees, the bulk of which are in India, with some in Indonesia and another team in the Philippines. It also lists hotels, and has about 45,000 listings, with plans to add more.
Druva started in Pune, India and is now operationally HQed in Sunnyvale, according to Jaspreet Singh, its CEO and founder. The company provides a backup system for mobile devices in the enterprise.
Mu Sigma is a Bangalore-based data analytics company. Last month, it struck up a deal with MasterCard that valued the company at $1 billion, according to The Economic Times in India.
Idea Device is also a Bangalore startup, and makes a runbook automation system. Runbook automation is a set of technologies that helps take out some of the manual system administration tasks for IT departments.
As for the two US-based firms, Airbnb opened its Singapore office late in November last year, and Evernote has been in the country for a little over a year.
Sequoia Cap itself was operating out of a service office in High Street, but now is the anchor tenant at a fancy new co-working space called The Co, so it could be a sign that it’s trying to get closer to local startups.
Sequoia Cap US declined to comment further on its plans for Singapore.
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Visualized: JetBlue and ViaSat test Fly-Fi in-flight WiFi... from the ground
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FCC confident in its mobile phone radiation limits, seeks second opinions
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BionicOpter dragonfly drone flutters about, blows minds
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In conversation with Epic Games' Mark Rein: Unreal Engine 4 support for Oculus Rift (and everything else), and thoughts on next-gen
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Twitter music app reportedly includes Vevo, may expand to more services
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Business Insider's Owen Thomas Is In Talks Be The New Editor At ReadWrite
My old boss Owen Thomas is very close to becoming the new editor-in-chief at the SAY Media-owned tech site ReadWrite, according to sources with knowledge of the company. I’m hearing that it’s not quite a done deal, but that it’s looking very likely.
Naturally, I called Owen to ask if this was the case, but he declined to comment. A SAY spokesperson told me, “There’s obviously a lot of interest in ReadWrite. There are a lot of good candidates in the mix, and no one’s been hired yet.” (Just to reiterate — I’m not saying he’s been hired, just that the discussions are pretty far along.)
Owen may still be best known in startup circles as the former editor of Valleywag. He’s currently the West Coast Editor at Business Insider, and he was also the founding editor at The Daily Dot, executive editor at VentureBeat, editorial director at NBC, and a reporter/editor at Business 2.0. He’s definitely drawn his share of controversy (I was working for him at VentureBeat when Elon Musk called him “the Jayson Blair of Silicon Valley”), but he’s also a funny, well-connected writer, and an editor who I learned a lot from.
Earlier this month, we got the scoop that then-EIC Dan Lyons was leaving for marketing software company HubSpot.
Update: After the post went up, SAY VP of Social Ted Rheingold to reiterate that it’s “a very open position with lots of interest and lots of candidates.” It sounds like I may have been a little premature in saying “probably” in the headline, so I changed it to “in talks.”
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Robots Mimic Ant Colony Behavior
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Sony's Light Shaft, Motion Shot apps now available for NEX-5R and NEX-6 cams
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The Daily Roundup for 03.29.2013
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