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Deliveroo's revenue grew 611% to £129 million in 2016

deliveroo

Deliveroo’s expansion in 2016 helped drive the company’s revenue for the year up 611% to £129 million, from £18 million the prior year.

Losses for the food delivery startup were up 300% year on year to £129 million, from £30.1 million in 2015.

According to the filing there was one exceptional cost of £5.3 million, which is how much it cost Deliveroo to rebrand last year. 

Most of the growth came from Deliveroo’s international markets, with revenue from countries outside the UK “increasing substantially.” In 2016, the London-headquartered startup had expanded to 84 cities in 12 countries. It now operates in 120 markets across 12 countries, and has 120,000 restaurant partners.

The company is still sitting on considerable amounts of investor cash, having raised $275 million (£210 million) in a Series E funding round in August last year. Deliveroo said its net assets stood at £169 million as a result.

Rapid growth means London-headquartered Deliveroo is considered a major startup success story. It was founded in 2012 to allow people to order food for delivery from their favourite high street restaurants, not just those which do takeaway. The company charges £2.50 for delivery — more if your order is under £10 — and takes a commission fee from the restaurant.

But there are some risks. According to Deliveroo’s filings, its gross margin percentage stands at just 0.7%. That figure shows the proportion of each pound of revenue the firm keeps as gross profit, before it pays cost of goods. The higher the margin, the more efficient the company. Deliveroo’s low figure suggests it has more work to do to cut costs — but 0.7% is an improvement on 2015, when the firm reported a negative gross profit margin.

A higher gross profit margin may depend on whether Deliveroo is forced to pay its drivers more. There is an ongoing battle over how companies like Deliveroo and Uber pay their workers — who work flexibly but are not guaranteed the minimum wage. Deliveroo itself acknowledged the risk of greater regulation in its filings.

Another risk to the business is that more rivals are popping up in the food delivery space. UberEats is a significant rival in the UK, while Amazon has also launched a food delivery service.

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NOW WATCH: Here are all the major changes coming to your iPhone September 19

Microsoft Office 2010
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Polly’s teen polling app piggybacks on Snapchat

 Snapchat doesn’t technically have a developer platform, but that hasn’t stopped other startups from taking advantage of its new feature for attaching links to your Snaps and Stories. Sarahah was the first, allowing people to ask fellow Snappers for open-ended anonymous feedback. But the problem is that those requests could be met with cyberbullying.

Polly is a new teen sensation… Read More

Microsoft Office 2010
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Ford brings Microsoft HoloLens to Design Studio; Drives speed, creativity and collaboration

Microsoft has a proven track record of transforming productivity: empowering people and organizations to achieve more. As part of the digital transformation that the modern workplace is currently undergoing, mixed reality is providing new ways for companies to visualize and interact with 3D data. This improves their ability to innovate, collaborate and make critical business decisions more quickly. Today, I’m thrilled to share our latest collaboration with Ford, who is expanding testing of Microsoft HoloLens after a successful pilot the past year in their Design Center to improve creativity, collaboration and time to market. Ford is embracing the digital transformation of the modern workplace across the company to make people’s lives better in vehicles today while exploring evolving mobility solutions such as autonomous vehicles of tomorrow. Design will become an even more important differentiator in this exciting time and HoloLens and mixed reality are seen as key to standing out.

Unleashing creativity in design

Designers at Ford make thousands of decisions to design just one vehicle, let alone a fleet cars, trucks, and SUVs. These decisions are made in close collaboration with their partners in engineering and management. Traditionally, a lot of this work is done using clay models, which are expensive and time-consuming to develop, and costly to change. While these models will continue to be an extremely important part of the design process, the team needs to feel confident in their design decisions early on before they are built at scale in clay. With HoloLens, Ford designers are blending 3D holograms digitally with both clay models and physical production vehicles. This allows designers to experiment much more quickly without having to physically build every design prototype in clay, which can limit creativity with longer steps. This new technology allows them to create and iterate more freely and quickly. They also envision the potential to use HoloLens in multiple areas of vehicle development, including early product creation, the design process and later engineering studies of designs. In their early work in grille theme development, they proved that what used to take days with multiple physical models could take only hours using a HoloLens and one physical model.

“It’s amazing that we can combine the old and new – clay models and holograms in a way that both saves time and allows designers to experiment and iterate quickly, to dream up even more stylish and clever vehicles. Microsoft HoloLens is a powerful tool for designers as we continue to reimagine vehicles and mobility experiences in fast changing times.”

— Moray Callum, vice president, Design

New ways for global teams to collaborate

Due to the highly confidential nature of vehicle design plans, designs are limited to a select few viewers. This makes collaboration across teams challenging. Engineers are often working to ensure fit and function without ever being able to visualize the full model design on which they are working. Using HoloLens, design and engineering teams across the company can more easily collaborate, without the risk of leaks of highly confidential designs – which happens to be one of the automotive industry’s biggest competitive advantages. This allows everyone working on the product to better understand tradeoffs and to reflect customer experiences throughout the entire development process. For example, now a designer and engineer can evaluate in real time how a new side mirror design not only affects the aesthetics but also the customer’s view – a process that can be completed in a day when previously designers and engineers had to go back and forth for days or weeks.

“Microsoft HoloLens allows a whole team of people to collaborate, share and look at ideas together. It is
exciting because it helps our designers and engineers communicate effectively and ideate to see the
future earlier in the process by mixing virtual and physical models. This allows great freedom and
efficiency in how prototypes are created or changed.”

— Elizabeth Baron, Ford virtual reality and advanced visualization technical specialist

Two men wearing Microsoft HoloLens looking at a hologram of a Ford vehicle.

I am so inspired to see Ford truly embracing the digital transformation of the modern workplace as part of their design process. We know how important it is to honor the way that companies of all types work today while helping them extend their investments for tomorrow. With HoloLens, we are empowering people and organizations to achieve more through the power of bringing the digital and physical together with mixed reality. Ford is honoring tried-and-true approaches of building some of the most innovative vehicles on the market while embracing a more creative and collaborative future for their teams tomorrow. Find out more about what Ford has to say about the collaboration in their Medium post, and explore how our customers are using HoloLens at HoloLens.com/commercial.

-Lorraine

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Announcing Windows 10 Insider Preview Build 16294 for PC

Hello Windows Insiders!

Tonight we are rolling out Windows 10 Insider Preview Build 16294 for PC to Windows Insiders in the Fast ring only (not Skip Ahead). This build might not be available for everyone as it rolls out so just be patient.

As we mentioned previously, we are now at the point of the development cycle for the Windows 10 Fall Creators Update where our focus is now on stabilization for release to the world. This means that we are releasing new builds to Insiders more quickly and that these builds will include mostly bug fixes. You’ll notice that this build continues to include a bunch of good bug fixes Insiders will enjoy.

General changes, improvements, and fixes for PC

  • This build has the fix for the bug that was causing some Surface Pro 3 devices to end up in a “unbootable” state where the Windows OS will not load and it appears to be stuck on a “spinning dots” screen. After installing this build, Surface Pro 3 devices should no longer get into this state. If you have a Surface Pro 3 in a bad state – follow the instructions on this forum post to get back up and running.
  • We fixed an issue on Dutch builds where explorer could go into a crash loop if an app-requested downloads notification popped up from OneDrive.
  • We fixed an issue where expand.exe couldn’t expand CABs that contained Japanese characters in the file name.
  • We fixed a race condition that could result in window content being transparent (but showing the window frame) or stale after unlocking your desktop.
  • We fixed an issue resulting in some Insiders seeing error 0x800B010C when attempting to upgrade to the last few flights.

No downtime for Hustle-As-A-Service,
Dona <3

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Seattle has entered the vicious $5 billion battle for Amazon's second headquarters — here's why that's a terrible idea (AMZN)

Amazon headquarters seattle dome

Seattle — home of Amazon’s current headquarters — also wants to be the site of the e-commerce giant’s second headquarters. 

Bruce Harrell, during his recent short-lived role as mayor of Seattle, signed an executive order stating the city’s intent to compete for Amazon’s second headquarters, local alternative newspaper The Stranger reported.

Amazon announced earlier in September that it was soliciting bids from cities across North America for a place to build its second headquarters. The e-commerce giant said it would invest $5 billion in the headquarters and that it plans to eventually house 50,000 Amazon employees there.

Currently, Amazon’s Seattle headquarters employ more than 40,000 people. According to the company, the headquarters have created 53,000 jobs in the city in addition to pumping $38 billion into the local economy. 

Amazon’s impact on Seattle is one reason other cities have been eager to compete for the company’s second headquarters. But a second Amazon headquarters in the city would be truly cataclysmic. 

Amazon Seattle

Some Seattle residents already believe that Amazon has changed the city — and not for the better, with some calling the transformation “Amageddon.” 

Housing costs are sky-rocketing, pushing some long-time residents out of the city. In 2016, an apartment in downtown Seattle’s cost $42.08 per square foot to rent, compared with $39.79 in 2015 and $31.38 in 2009. Home values increased 11.2% in the last year alone, according to Zillow. 

Analysis by the software and traffic-data company Inrix found that Seattle drivers spent an average of 55 hours stuck in traffic in 2016. That places Seattle among the 10 worst US cities for congestion.

Jeff Reifman wrote in a 2014 op-ed in GeekWire:

“A lot about our Amazon-fueled future is just plain obvious: Seattle will be more male, even more white, wealthier and less diverse, unaffordable to those with lower incomes including the firestarters of culture, artists. The city’s spacious skyline, which offered scenic views from many areas of town, will be forever transformed; anyone who lives here knows it already has been. Many parts of Seattle are unrecognizable from last year let alone a few years ago.”

A second headquarters in a city with limited space — for a company that primarily hires college-educated people with an interest in tech — isn’t going to solve these issues. It’s going to make them worse. 

Every city seems to feel the need to place their hat in the ring for Amazon’s second headquarters. But, there’s no reason that Seattle should even pretend that it is going to do the same. 

SEE ALSO: Cities are in a vicious, $5 billion battle over Amazon’s headquarters — here’s why they’re crazy

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NOW WATCH: Ex-Google employees created a vending machine to replace corner stores — and the idea is being mocked all over Twitter

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Ads for this season of 'American Horror Story' are giving people panic attacks — here's the science behind it

American horror story cult

An advertising campaign for the new season of “American Horror Story” has been giving people panic attacks with its disturbing, hole-covered imagery, and the underlying cause is a rare but intense feeling of disgust that scientists are still trying to figure out.

Trypophobia, this fear of clustered holes, bumps, and similar patterns, affects around 15% of the general population. 

Some researchers think that the fear is an evolutionary instinct ingrained in humans to avoid dangerous, hole-covered formations in nature, like bee-hives or other poisonous structures. 

In this season of “American Horror Story: Cult,” actress Sarah Paulson’s character suffers from trypophobia, and as CNN notes, her overwhelming fear in the first episode of holes in her souffle and a piece of coral in her therapist’s office has also affected viewers with the same condition.

One woman, Jennifer Adresen, told CNN that she had a “full-blown panic attack” with nausea upon seeing the show’s promotional posters for the first time. 

american horror story cult

Many people have since taken to Twitter to complain about the show’s preoccupation with holes as a triggering mechanism. Some have even diagnosed themselves as having trypophobia. 

“American Horror Story: Cult” airs Tuesdays at 10 p.m. on FX.

SEE ALSO: This photo deeply disgusts some people, and scientists are trying to understand why

SEE ALSO: The 50 worst TV shows in modern history, according to critics

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NOW WATCH: A popular ‘Game of Thrones’ fan theory says Bran is the Night King — here’s why

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Coinbase adds customer support line after months of uproar from unhappy bitcoin customers

Brian Armstrong Coinbase

– Coinbase announced a new customer support phone line to help users facing issues with the cryptocurrency platform.

– The company promised to expand customer service operations as early as June, but has faced an onslaught of unhappy customers in recent months as the userbase overpowered the support staff.

-However, one call we placed to the support line never made it through to a human customer support agent. The call ended after 15 minutes and 30 seconds, most of which was spent on hold. A second call reached a human after 14 minutes.

If you need me, call me.

That’s the latest message coming out of Coinbase, the $1.6 billion cryptocurrency trading platform, which addressed months of customer complaints on Wednesday with the opening of a customer support phone line.

The San Francisco-based company will now offer phone support during business hours, though the support agents can only handle issues related to verification and locked accounts. Customers that need specific account help will still have to reach out by email, or consult Ada, the Coinbase support bot. 

While Coinbase said the phone lines were live on Wednesday, a call placed by this reporter at 12:40 pm PST went directly to hold. After being on the line for 15 minutes and 30 seconds, the automated voice said that the lines were backed up, and that the caller should hang up and try again, or submit a complaint online. 

A second call, placed at 1:04 pm PST, reached a human after 14 minutes.

As the price of bitcoin hovers just below $4,000, more and more people are realizing the potential to make considerable sums of money by trading cryptocurrencies. 

It’s been a mixed blessing for Coinbase, the leading cryptocurrency trading platform, which confirmed its unicorn status in August with the announcement of a $1.6 billion valuation. As its userbase grew — double what it was in September 2016, by the company’s account — so did the number of complaints, ranging from locked accounts to thousands of dollars in unaccounted for funds.

One Coinbase user, Michael Sion, said he saw $16,300 disappear from his bank account without any explanation. He said that Coinbase immediately froze his account when he contacted the company. Despite contacting the company every day, it took over a week to hear back about what went wrong, Sion said. After Sion reached out to the U.S. Consumer Financial Protection Bureau and the California Attorney General’s office to complain, he finally got his account unfrozen by Coinbase.

In the end, it turned out that Sion had made a mistake when indicating where the money was to be pulled from. But he contends that the issue — and his escalating concerns that Coinbase had committed fraud — could have been mitigated if the company had responded to his complaints sooner.

I hope as a consumer they do a better job and meet the standards of the rest of the financial community,” Sion said. 

Among the 89 negative reviews on the Better Business Bureau website, many of them focused on that same point of contention: the user complained via email, but didn’t hear back from Coinbase for days or weeks, if at all. In multiple cases, thousands of dollars were on the line, and the users feared that money would be gone forever. 

Despite multiple attempts to contact their customer support, I have received no response from them beyond an automated email response to my inquiry. I have over $8k that I deposited into the account that I cannot withdraw from my account,” Josh D. wrote on August 24.

Coinbase has long been aware that its customer support is an issue. In June, CEO Brian Armstrong wrote that the company had re-evaluated its growth plan in order to improve customer service.

But the issue was again thrust into the national spotlight in August, when the platform faced a mass exodus over its initial decision not to support a new currency called bitcoin cash. Many users faced a 12-hour wait time to withdrawal their investments, as some scrambled to transfer their bitcoins to competitors that would support bitcoin cash.

When the company announced a $100 million in Series D funding in August, the company said once again that expanding its staff was a top priority.

On Twitter, Armstrong posted a chart which indicated that Coinbase would have over 200 customer support staffers by October — up from around 25 in June. Coinbase wouldn’t share specific numbers, but confirmed that the chart is an accurate representation of the company’s growth, with most of the support staff coming from external agencies in the US and abroad.

In an email to Business Insider, a representative for Coinbase said that at the end of the day, the company just wasn’t prepared for the growth it saw over the last six months.

“As a result, our systems have been pushed to the limit and has created a negative experience for some customers,” the Coinbase representative said. “We understand how frustrating this can be and we are committed to improving the experience for our customers.”

SEE ALSO: Bitcoin exchange Coinbase confirms its unicorn status with $1.6 billion valuation

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NOW WATCH: How to take a screenshot on a Mac — and 15 other useful keyboard shortcuts

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IBM open-sources a microservices-friendly Java app server

A few weeks ago, Nginx released its multilanguage microservices-friendly app server, but without Java support at launch. Now IBM has a beta build of its own microservices-friendly app server for Java applications: the open source Open Liberty, which implements IBM’s version of Java EE and MicroProfile microservices implementation.

Open Liberty will provide a runtime supporting Java microservices that can be quickly updated and moved among different cloud environments. When combined with the Eclipse OpenJ9 Java Virtual Machine, OpenLiberty will provide a full Java stack, IBM said. (OpenJ9 had been IBM’s J9 JVM, which it contributed to the Eclipse Foundation that now manages Java EE.)

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Microsoft Edge Web Summit 2017 recordings are now available on Channel 9

Last week we welcomed hundreds of local developers and thousand of online viewers to our third annual Microsoft Edge Web Summit! Videos and slides from each session are now available to stream or download on Channel 9.

Photograph showing Charles Morris on stage presenting at Microsoft Edge Web Summit

Learn about what’s new in EdgeHTML 16 in the keynote at Microsoft Edge Web Summit 2017.

Our sessions will bring you up to date on what’s in store for EdgeHTML 16, including learning how to use new and updated features like CSS Grid Layout, object-fit and object-position, WebVR, and the Web Payments API.

Learn about how to build faster websites with a fast and furious tour of web performance in the real world, and how to keep your development and testing on track with sonar, a new open-source, community-owned linting tool for the web. And make sense of the always-evolving web app landscape while blending the best of web and native with Progressive Web Apps.

Or go on a deep dive into the inner workings of the browser, to learn how we’re constantly rebuilding Microsoft Edge to be more secure, more accessible, and faster than ever, with every release we ship.

That’s just the beginning – there’s lots more to see on Channel 9, and we’ll have more to share about these topics and more in the coming weeks right here on the Microsoft Edge Dev Blog.

Thanks for joining us at Microsoft Edge Web Summit 2017 – we can’t wait to see you next year!

Kyle Pflug, Senior Program Manager, Microsoft Edge

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Google brings the $399 Android One Moto X4 to Project Fi (and the U.S.)

 Google today announced that the Android One Moto X4 is now available for pre-order on its Project Fi page. Like other Android One phones, the mid-range Moto X4, comes with a pure version of Android without any bloatware. This marks the first time an Android One phone is available on Project Fi, Google’s own virtual cell network, and it also marks the Moto X4’s arrival in the… Read More

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