Technology

Twenty years strong: a love letter to TechCrunch

TechCrunch is turning 20. I’ve been here half that time. I worked previously at numerous major media properties, including Time Inc, Dow Jones, and Reuters; this has been the best job of my life, which is maybe why the time has gone so fast.

There’s nothing like the culture here. Contrarian, smart, hilarious, and hard-working. Almost everyone at TC wears multiple hats, as anyone who has worked here will tell you. This isn’t just another media company — it’s a place where people are curious about everything, everyone cares a crazy amount about the brand (and each other), and where challenging conventional wisdom isn’t just encouraged but expected.

Over the past decade, I’ve personally had the opportunity to interview some amazing people: Sam Altman, Marc Andreessen, Lina Khan, Conan O’Brien, Al Gore, Finland’s Sanna Marin, along with people making defense tech, building consumer giants, and selling their software companies for billions of dollars. My colleagues have collectively talked with thousands more whose impact on our lives is felt daily. From these conversations, we’ve learned — then explained to our readers — how technology, policy, and human ambition intersect to shape the world.

We’ve done this from our homes, from coffee shops, from offices, but also across the world, to the many places TechCrunch has taken us, from Lisbon, London, Berlin, Barcelona, Paris, and Davos to (nearly) the opposite end of the globe: Lagos, Nairobi, Hong Kong, and Hangzhou.

Across these cities, we’ve sat down with founders who became superstars and superstars who became prison inmates. We’ve watched boring technologies take over the world and celebrated technologies that devolved into dumpster fires.

We’ve seen entire industries born, mature, and sometimes wither. We’ve watched two-person startups become trillion-dollar companies and told you about business innovations that flipped industries upside down — from subscription models to the gig economy to, more recently, AI roll-ups. We’ve reported on breakthroughs that changed everything. We’ve also covered “breakthroughs” that amounted to bupkis.

And we’re still here. In recent weeks alone, TC has sat down with the prime minister of Greece and the mayor of San Francisco; we’ve also covered big stories involving the most prominent VCs, startup founders, and big tech outfits in the industry. I’d stack our transportation, startup, cybersecurity, and AI coverage against anyone’s.

These are tough times in media; it’s among the growing number of industries in flux. But to everyone who’s gleefully written about the supposed demise of TC, plot twist — we’re still here! Twenty years in, we’re still breaking the stories that matter, still holding power accountable, still finding the next big thing before it’s obvious to everyone else. We’re doing it for a growing audience, too.

Michael Arrington, thank you for creating this brand that became so much more than any of us could have imagined. Thanks to every parent company that’s supported us and helped us keep doing what we love, including, today, Regent. TC’s ownership has changed over the years, but our mission to find the signal in the noise and tell stories that matter remains the same.

Here’s to the perspective that twenty years gives you, and to twenty more years of asking hard questions, helping readers see around corners, and working with people who make even the roughest days worth it.

To everyone who’s been part of this story — writers, editors, sources, readers, attendees, speakers, critics, and cheerleaders — thank you for making TechCrunch what it is, a place for people who want to understand what’s coming next, who firmly believe that tech can make the world better — and who trust us to call out when it doesn’t. We appreciate you. Cheers!

Intellectual Insider

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A blog which focuses on business, Networth, Technology, Entrepreneurship, Self Improvement, Celebrities, Top Lists, Travelling, Health, and lifestyle. A source that provides you with each and every top piece of information about the world. We cover various different topics.

Technology

Meta AI gains video editing capabilities

Meta said Wednesday that it is adding video editing capabilities to Meta AI that let users edit short videos using preset AI prompts to change costumes, locations, and styles. With these new features, the company is taking on rivals like Google that have been steadily adding generative AI video tools to their apps, as well as other AI-powered editing platforms like Captions.

The company is rolling out the editing tools to the Meta AI app, Meta.ai website, and its Capcut competitor, Edits, in the U.S. It says that the features were inspired by its Movie Gen AI models, but it’s not clear if the company is using those models to power the editing tools.

For now, users will have to deal with 50 presets to edit a 10-second video. Meta said that it gathered feedback from creators to make these presets so that they can be easily included in the Edits app.

ezgif 27dbf937d8be70 — Image Credits: Meta AI

The presets can apply a “vintage comic book style” to a video, change the lighting in a clip to a rainy day, or swap out a subject’s clothing to a space cadet suit, to give a few examples. You can share edited videos directly to Facebook and Instagram from the Edits and Meta AI app.

Meta said it plans to add more customization options later this year.

“We built this […] so that everyone can experiment creatively and make fun, interesting videos to share with their friends, family, and followers,” the company said in a blog post. “Whether you’re reimagining a favorite family memory or finding new ways to entertain your audience, our video editing [tools] can help.”

Meta AI already has image generation features across platforms. It seems with this video editing feature, Meta wants more creators to use its own tools rather than third-party apps.

Intellectual Insider

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Technology

Vijay Pande, founding partner of a16z bio and health strategy, steps down

Vijay Pande, a general partner at Andreessen Horowitz who founded the firm’s a16z Bio + Health strategy, announced that he is stepping down from his role.

Since its founding in 2014, a16z Bio + Health has raised four funds of nearly $3 billion each, including a $1.5 billion fund that closed in 2022. However, it’s now seeking a much smaller $750 million fifth fund, The Wall Street Journal reported. In January, a16z Bio + Health announced that it will manage a $500 million biotech fund funded by pharmaceutical giant Eli Lilly.

a16z Bio + Health backs digital health startups and companies at the intersection of AI, computation, and biology.

Pande’s investments include Devoted Health, an individualized medical plan provider; Function Health, a personalized lab testing startup; and Freenome, a company aiming to detect cancer through blood draws. Before joining Andreessen Horowitz, Pande was a professor of chemistry, structural biology, and computer science at Stanford University.

The remaining partners on the a16z Bio + Health team are Jorge Conde, Julie Yoo, and Vineeta Agarwala.

Intellectual Insider

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Technology

Tebi, the new startup by Adyen’s departed cofounder, raises a fresh $30M from Alphabet’s CapitalG

Dutch payments firm Adyen now has a market cap of over $61 billion, but that didn’t stop its cofounder Arnout Schuijff from stepping down in 2021 to focus on his new startup, Tebi.

Now an Amsterdam-based fintech startup with 35 employees, Tebi helps restaurants, bars and other hospitality businesses manage their operations with an all-in-one subscription-based platform that can handle payments, reservations, inventory, and more.

This means that Tebi has a wealth of competitors, from POS systems to reservation platforms and analytics-driven solutions for inventory optimization. But it hopes to have an advantage by tying this all together with enterprise-level functionalities and pricing.

To a casual observer, this appears as something that Adyen could have done. But given its focus on enterprise, building a product for SMBs was better done on the outside, Schuijff said. “That was a much more logical step for me than to try and do it within the context of Adyen.”

However, Tebi wasn’t meant to fill a gap left by Adyen. Nor was it meant to find a new role for Schuijff, who had stayed in his CTO role after the 2018 IPO that made him a billionaire, at least on paper. “My move was really a positive one. I didn’t need to go. I was still enjoying my job,” he recalled.

What he was missing, though, was coding; and this impulse to code was how Tebi was born. During Covid lockdown, Schuijff decided to revisit his attempt to make it easier for his favorite bar to handle value-added tax (VAT) and other reporting hassles.

On a tech level, this was similar to the accounting platform he built for Adyen, and before that, for Bibit, which then RBS-owned Worldpay acquired in 2004. But by 2020, Schuijff had more tools at his disposal. Using streaming, he was able to support instant transaction updates — and it grabbed him.

From side project to company

While this isn’t the case in the Netherlands yet, “you see a move towards tax departments requiring hospitality businesses to report instantly when the sale is happening,” Schuijff said. But more generally, he saw the need for less manual reconciliation work. This was also confirmed to him by bar owner Mazdak Nasori, who became one of Tebi’s five cofounders.

Eventually, Schuijff told Adyen CEO Pieter van der Does he would leave to focus on Tebi full-time. But his goal wasn’t to build another Bibit or Adyen, and still isn’t. “It was just that I got so inspired by the coding and by the opportunity to contribute something to society in another way by helping out a lot of local business owners,” Schuijff told TechCrunch.

As Tebi’s CEO, Schuijff’s role doesn’t involve much programming, and the irony isn’t lost on him. “I miss doing the coding, but then I figured out that I could add more value and increase the success chances of Tebi by actually doing what a CEO is supposed to be doing, which is building the team and many other aspects, helping with the strategy and all these things.”

One of these things is sales. When he goes out to eat or have a drink, Schuijff can’t help talking to owners about their pain points, checking what they are using, and introducing Tebi. “I consider I am doing them a favor, almost,” he laughed.

Tebi at Bacalar cropped — **Image Credits:**Tebi

Still, joining forces with former Adyen EVP Technology Rob Vonk as Tebi’s CTO made for a tech-heavy team that needed balancing, Schuijff said. So he also hired Aki Tas as COO, who was formerly head of business strategy and operations at Notion, and recruited Patrick Studeneer, as CCO, formerly COO at Wolt. “Now we managed to level out the boat and start focusing much more on the commercial side and the expansion side.”

Means for expansion

After using a hyperlocal deployment approach Tebi is now available across the Netherlands, where it says merchants are already processing nine figures of payments annually on the platform. With open roles in Amsterdam and London and plans to double its headcount by the end of the year, its next step is to start serving the U.K. market, followed by “many countries in the coming years,” Schuijff said.

This rollout will be supported by funding. Eight months after raising a €20 million Series A led by Index Ventures (approximately $22 million), Tebi has now closed a €30 million investment (approximately $34 million.) Led by CapitalG, Google parent Alphabet’s growth fund, with participation from Index, it brings its total funding to €56 million (about $64 million).

Although San Francisco-based, CapitalG partner Alex Nichols is a really-thesis driven investor who also has Europe on his radar. He recently led a deal into Belgian startup Odoo, which joined a portfolio that already includes Monzo and Pennylane. He sought out Tebi after observing that European SMBs are underserved by costly, bank-dominated payment solutions.

“This setup closely resembles the U.S. market 15 years ago before the rise of software-embedded payments reduced bank share to less than 30%” he told TechCrunch in a written comment.

That Nichols had done his research was what ultimately won CapitalG the deal, in addition to all the “touch points” between Tebi and Alphabet properties such as Android, Gemini, Google Cloud and Google Maps. “We were not looking for an investment, but we thought, yeah, this is they’re bringing much more than just money,” Schuijff said.

The money in question will fund more than Tebi’s international expansion. It will also let it add more AI features, in addition to what it already implemented for onboarding to automatically pull menu, visual identity and reservation settings. “The future vision,” Schuijff said, is that on top of its all-in-one platform, there will be “an AI platform that will help you run your business better.”

Building this vision and expanding across Europe will take Tebi’s bandwidth for a while. But after that, and “as soon as we are confident that we can grab a significant part of the market there,” a U.S. expansion is in the cards.