Subscription-Centric Startup Dollar Shave Club Inks $1B Buyout by Unilever

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Welcome, this industry newsletter shares key market changes, in a twice-monthly publication, curated by Jeremiah Owyang, Founder of Crowd Companies™, you can subscribe to the email newsletter on the footer of the homepage.

Dollar Shave Club Acquisition Is a Win for Subscription Economy
The $1 billion price tag allegedly being paid by Unilever to acquire Dollar Shave Club illustrates just how much clout innovative business models now have since the advent of the on-demand subscription economy. Dollar Shave Club’s direct-to-consumer razor blade strategy just paid incredible dividends for the $160 million investment in it, and the leverage of Unilever’s global presence and distribution networks bode well for its future prospects. See the breaking news coverage on Fortune.

Ride Sharing Service FlightCar Collapses
In a sudden and stunning collapse, airport ride-sharing service FlightCar shut down this month and sold its technology to Mercedes-Benz R&D. Rounds of investment totaling $5.5 million weren’t enough to fend off festering customer service issues, and the abruptness of the closure spoiled relationships with numerous staff and customers. FlightCar’s newly revamped app suite will contribute to Mercedes-Benz’s mobility services innovation lab. Read more about the collapse on Digital Trends.

Gen X Turns 50
Seemingly always caught in the middle, Generation Xers have always forged their own way through life, and now as they start to turn 50, they find themselves with power, with entrepreneurial businesses, and with influence. A surprising 55 percent of startup owners come from Gen X, and many are driven to possess careers that have meaning. How Gen Xers survived, what they’ve been left to deal with, and what the future looks like at 50 for these undetected influencers are the subjects of a new research report from Sparks & Honey. Take a look at the SlideShare report summary.


We want to hear from you! What are the market impacts of this week’s news stories? Email Crowd Companies™ Founder Jeremiah Owyang directly to share your thoughts.


Image from Pixabay used under Creative Commons license.

The Ten Types of Corporate Innovation Programs

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Large, established companies are trying on various programs to foster new innovations in an attempt to find the best way to change course for their big ships.

These established companies are struggling to keep up with fast-paced, venture-backed startups that are changing customer expectations — and often causing business model disruption for traditional businesses. To combat this ever-growing threat, corporations are stepping up their investments in innovation and deploying a variety of strategies, as outlined in the following table.

As founder of Crowd Companies, an Innovation Council, we work directly with these innovation teams and have been able to observe and document these types of programs. Often, companies are combining strategies and deploying multiple efforts at any given time. In our upcoming research report on the topic of corporate innovation, we will document how the top companies are leading the charge.

To provide some context for this new corporate innovation, note that we discovered companies are not just investing in incremental product features or enhancements; they are investing in new business models or altering the customer experience beyond the core product.

The Ten Types of Corporate Innovation Programs:

Strategy Description Example
1: Dedicated Innovation Team Corporations often start with staffing an innovation team within the company of full time employees dedicated to developing the strategy, managing, and activating innovation programs. These leaders are experts at internal communications, and are change agents. MasterCard, Hallmark, and BMW have innovation teams dedicated to new business ideas.
2: Innovation Center of Excellence Innovation can’t happen in a single group; without broader institutional digestion, new ideas will falter and fall. Some corporations are setting up cross-functional, multi-disciplinary groups to share knowledge throughout the company. Various retailers and consumer packaged goods companies enable this.
3: Intrapreneur Program Rather than rely solely on external programs, internal employees — dubbed “intrapreneurs” — are given a platform and resources to innovate. These programs invest in employees’ ideas and passions to unlock everything from customer experience improvements to product enhancements and full-blown internal startups that are then launched from within the company. Adobe’s Kickbox program is widely recognized as the leading program; we’ve documented it here.
4: Open Innovation: Hosted Accelerator or Corporate Incubator Hosted inside a corporate office, large corporations invite startups to embed at their physical locations and provide them funding, corporate support, and other perks. This brings innovative startups inside a large company for everything from overnight hackathons to long-term programs. Other variations include online open-innovation programs that request — and often reward — ideas from the crowd. Allianz Digital Labs in Munich hosts startups, and GE Garages enables startups to partner.
5: Innovation Tours Frequently inspiration comes from outside, not within. Corporate leaders tour innovative organizations, companies, and regions to discover trends in various industries, learn from speakers, meet partners, and be inspired as they immerse themselves in innovation culture. European-based WDHB and Nexxworks tour executives in Silicon Valley and beyond –I’m a frequent speaker at their events.
6: Innovation Outpost A dedicated physical office, such as in Silicon Valley or wherever innovation happens in their market, staffed with corporate innovation professionals whose job is to sense what’s occurring in a market, connect with local startups, and integrate programs back into the corporate HQ. Some of them host partners, events, and startups, thereby spreading the function to Internal Accelerator programs. An Innovation Outpost is typically managed by employees — unlike an External Accelerator, which is run by a third party. Swisscom, Vodafone, and Nestle have opened Silicon Valley outposts. Read Evangelos Simoudis’ blog for insights.
7: External Accelerator Corporations partner with third-party accelerators to provide sponsorship and/or funding in exchange for relationships with startups and integration opportunities. Corporate innovation professionals often embed themselves in Accelerator offices, fostering relationships with local startups. These External Accelerators are run by third parties — unlike Innovation Outposts, which are managed by employees. Plug and Play, Singularity University, Rocketplace, Runway, 500 Startups, Betaworks, and more.
8: Technology Education, University Partnership Corporations can tap into new graduates, early-stage projects and companies, and the network of an established educational institution. In addition to traditional universities, there are new private versions opening up that are dedicated solely to technology training, like Galvanize and General Assembly. General Assembly, Galvanize, and most tech- or business-focused universities.
9: Investment Many corporations place bets among the startup ecosystem, with both small amounts for early-stage startups and larger amounts of corporate funding that yields market data, creates opportunities for follow-on investments, and blocks competitors. Intel Capital is a leader in direct corporate investments.
10: Acquisition Rather than build innovation from the inside, many corporations acquire successful startups and then integrate. While often expensive, the startup is often already successful, and the acquisition can help the startup scale further. As one example, Dollar Shave Club was purchased by Unilever for a reported $1B.

In summary, corporations don’t have a one-size-fits-all approach to helping their company activate new ways of doing business. They will deploy multiple forms, at different times, with varying degrees of success.

What’s very interesting is that a majority of these examples are “outside-in” innovation, where companies are drawing knowledge, resources, or expertise from groups outside their own company.

Because most of these programs rely on external innovations, organizational alignment is key to helping companies digest market changes.

Stay tuned for further insights as we prepare to publish our report on corporate innovation this fall, and please leave a comment if we’ve left out a strategy — or need to modify an existing one.

(Photo from Pexels)

Lyft Premier goes head-to-head with Uber Black for high-class rides

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Welcome, this industry newsletter shares key market changes, in a twice-monthly publication, curated by Jeremiah Owyang, Founder of Crowd Companies™, you can subscribe to the email newsletter on the footer of the homepage.

Lyft Ensures Clients Ride in Style With Debut of Premier Service
Business executives in SF, LA, and NYC can now get a Lyft that preserves their class, as the popular ride-sharing company has officially rolled out Lyft Premier. The new high-end service follows in the footsteps of Uber Black. Lyft also unveiled Scheduled Rides, allowing riders to reserve a trip up to 24 hours in advance (look for the clock icon when you request the ride). Together, the upgrades remove hurdles to a smooth ride on business trips in luxury BMWs, Audis, Lexus, or Cadillacs. Lyft Premier is expected to cost twice as much as a standard Lyft. See the full story at PC Magazine.

Autonomous Delivery Robots Start to Hit the Streets
Collaborative partnerships with London’s robot developer Starship Technologies are beginning to deliver real groceries and goods to customers via autonomous sidewalk robots. The technology hits the streets after accident-free tests in the midst of 400,000 people. Starship has struck a deal with food delivery firm Pronto Technology and the Just Eat app for limited service in London, while five to ten of the robots will be deployed for retailer Metro AG and logistics firm Hermes Group in Bern, Switzerland, and two German cities. The United States is on the docket for additional rollouts in the coming months. Read more from Bloomberg.

Expert Minds Join Crowd Companies in Pondering the Future of Mobility
Crowd Companies Founder Jeremiah Owyang recently hosted BMW executives and transportation futurists from around the globe for a riveting discussion of what the future of mobility will look like — beyond the Collaborative Economy and self-driving cars. The event, “BMW Welcomes. Future Mobility,” probed the innovative minds of experts from the European Space Agency, electric vertical takeoff jet startup Lilium Aviation, high-speed transport system concept Hyperloop, and host BMW Group in Munich, Germany, on June 23. Watch them articulate the ideas that may change transportation as we know it in our recorded video of the event.


We want to hear from you! What are the market impacts of this week’s news stories? Email Crowd Companies™ Founder Jeremiah Owyang directly to share your thoughts.


Image from Pexels used under Creative Commons license.

“BMW Welcomes” Explores the Future of Mobility

What moves us tomorrow?

That’s the question BMW posed to its expert speakers at BMW Welcomes, held at BMW Welt in Munich, Germany, on June 23. Crowd Companies Founder Jeremiah Owyang hosted the event, following the council’s European Summit. BMW Welcomes gathers transportation futurists from around the globe to examine topics from Hyperloop to space travel.

In this video you’ll learn:

  • What is the future of mobility?
  • How is the space industry going to enable change?
  • How will Hyperloop going to change transportation?
  • And more.

What ensued was riveting conversation about the future of mobility and how major automotive players and international technology innovators are rethinking car ownership in favor of new transportation innovation and sharing behaviors. The Collaborative Economy will play a role, though it’s only a starting point for change. The future goes beyond self-driving cars, holding promise for a complete transformation of all aspects of society and transportation.

Event speakers included:

  • Frank Salzgeber, Head of Technology Transfer Program Office, European Space Agency
  • Daniel Wiegand, Startup presentation: Lilium aviation
  • Dirk Ahlborn, CEO Hyperloop
  • Mariana Avezum, Startup presentation: WARR Hyperloop
  • Oliver Heilmer, Head of Interior Design BMW, BMW Group

BMW defines “Future Mobility” as the way we will transport ourselves in the future by significantly increasing range, speed, and acceleration of our journeys, while simultaneously reducing cost and environmental damage. Watch the entire event below for more insight into the projects that will shape our lives forever.

Crowd Companies Releases Second Playbook to Guide Collaborative Economy Program Development

Crowd Companies is pleased to deliver part two of its Collaborative Economy Use Case Playbook to its members, covering primary use cases for program development within the “Marketplace” business model. The playbook assists council members in establishing Collaborative Economy initiatives by outlining resources required, recommended vendors, an implementation process, pitfalls to avoid, starter metrics, and more.

This is part two of three playbooks to be delivered in 2016, covering the three Collaborative Economy business models: Brand as a Service; Marketplace Model, and Enable a Platform (see below).

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Within the Marketplace model, Crowd Companies identifies two key use cases for Collaborative Economy programs. These are outlined within the playbook:

  • Used Good Marketplace: Companies facilitate the buying and re-selling or renting of their products on an online marketplace for customers.
  • Service Provider Network: A brand enables a marketplace of buyers and sellers to offer each other services––paid, free, or bartered.

You can view a preview of the Marketplace Model Playbook below, and be on the lookout for the final playbook as it’s developed for the Enable a Platform model. If you’re interested in the full playbook, please contact us to discuss Crowd Companies membership opportunities.

Trend Map: Crowd-based Insurance Startups On the Rise

 

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Welcome, this industry newsletter shares key market changes, in a twice-monthly publication, curated by Jeremiah Owyang, Founder of Crowd Companies™, you can subscribe to the email newsletter on the footer of the homepage.

Market Snapshot: Crowd-based Insurance Startups on the Rise
Crowd Companies has identified more than a dozen crowd-based insurance startups emerging from global financial industry hotbeds like London, and more will emerge from each region. The rise of this growing set of startups is enabling peer-to-peer, pro-rata coverage or crowd-based models that leverage the crowd. These include mostly P2P offerings, with a handful that are also improving the delivery of insurance through new technologies. P2P insurance allows for more people to be insured by aiding underserved markets and provides coverage for gig workers in the collaborative economy, while collective purchasing yields preferential pricing to those subscribed. See the infographic and full startups list on our blog.

NHTSA to publish federal guidelines for autonomous vehicles in July
The National Highway Traffic Safety Administration (NHTSA) is set to release guidelines for self-driving cars in July, which will supposedly be more lenient on testing and possibly legalize self-driving systems for public use, according to ReadWrite. The Department of Transportation will focus on four main areas in the announcement, including deployment, state policies, less vague process terminology, and new tools. These guidelines will attempt to create a legal standard for autonomous vehicle testing and semi-autonomous driving, which is now fragmented by state. Autonomous vehicle testing and commercialization via manufacturers and technology providers like GM, Google, and Tesla will gain speed as updated nationwide legislation helps clear the path and create a level playing field.

Austin, Texas, turns to Facebook group when Uber and Lyft leave city
Less than one week after Uber and Lyft pulled out of the city of Austin, Texas, over a legislative dispute surrounding employee background checks, a crowdsource ride-sharing alternative emerged: Arcade City Austin. The Guardian reports that Arcade City Austin, a 32,000-member Facebook group, allows drivers and riders to connect, posting to the group when they need a ride. Drivers post their time of arrival and both parties exchange phone numbers via Facebook to stay in contact, but there is no formal payment structure in place. Drivers charge what they believe is fair, and many riders pay only what they can afford at the time. Arcade City was founded in New Hampshire as a project that aims to decentralize ride-sharing.


We want to hear from you! What are the market impacts of this week’s news stories? Email Crowd Companies™ Founder Jeremiah Owyang directly to share your thoughts.


 

Crowd Companies mid-year review: Uber, Adobe, AI, & more!

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Welcome, this industry newsletter shares key market changes, in a twice-monthly publication, curated by Jeremiah Owyang, Founder of Crowd Companies™, you can subscribe to the email newsletter on the footer of the homepage.

Mid-2016 review: Crowd Companies hosts 5 live events, releases 5 research artifacts, and holds 10 council calls
From calls with Uber and Adobe, to tackling topics like food waste and AI, to live events at BMW and Hallmark’s headquarters, this year has been busy for Crowd Companies and its members. During the first half of 2016, the council enhanced its analysis of the Collaborative Economy by delving deeper into trends like the Autonomous World and innovation strategies. These important topics have driven Crowd Companies to create many new resources that help our members along their program development, including a “Use Case Playbook” based on Collaborative Economy business models, a research report and infographic on the industrial impacts of self-driving cars, and an updated Honeycomb 3.0 vendor framework. See the full list of 2016 member events, session calls, and resources on our blog.

72% of Americans have used a sharing service, reports Pew Research Center
To examine the scope and impact of the Collaborative Economy, Pew Research Center conducted its first survey devoted to its broader impacts and consumer use of related technologies. According to its research, nearly three-quarters of Americans have used a shared, collaborative or on-demand online service. Pew also uncovered that some Americans are avid users of these services (21% have used four or more services), but a greater share has had little to no exposure to these platforms and services (28%). Ride-hailing apps are one of the most visible services in the new digital economy with Pew reporting 15% of U.S. adults have used a ride-hailing app. More survey findings on PewResearch.org.

Autonomous taxi startup nuTonomy raises $16 million in Series A funding
Futurism reports that nuTonomy, an autonomous taxi startup that recently entered Singapore, has raised $16 million in Series A funding led by Highland Capital Partners. The company, in a race with heavyweights such as Uber, GM, and Alphabet Inc., vows to bring self-driving taxis to the road by 2018. The autonomous startup currently runs a fleet of R&D vehicles in Singapore and is the first private company approved to test on public roads. nuTonomy is also testing in Michigan and in the UK, where they have partnered up with Jaguar Land Rover. Find additional details of the funding and nuTonomy’s plans for self-driving taxis here.


We want to hear from you! What are the market impacts of this week’s news stories? Email Crowd Companies™ Founder Jeremiah Owyang directly to share your thoughts.


 

Crowd Companies 2016 Mid-Year Review: Uber, Adobe Kickbox, Artificial Intelligence, and More

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Council members in attendance at the Crowd Companies 2016 Spring Summit at Hallmark’s headquarters.

From Uber to Kickbox, and food waste to AI, this year has been busy for Crowd Companies and its members. During the first half of 2016, the council enhanced its analysis of the Collaborative Economy by delving deeper into trends like the Autonomous World and innovation strategies.

These important topics have driven Crowd Companies to create many new resources that help our members along their program development, including a “Use Case Playbook” based on Collaborative Economy business models, a research report and infographic on the industrial impacts of self-driving cars, and an updated Honeycomb 3.0 vendor framework.

Take a look below at the events that took us from Munich to Kansas City, ten live conference calls, and research-based resources our members have taken advantage of so far this year. And, if anything interests you, please email me! I’d love to walk you through what we have planned for the remainder of 2016 and discuss how you and your company can fit in. 

Register now: Upcoming Webinar: Spend an hour with me, to learn about the Collaborative Economy and Autonomous World, on this no-cost webinar, that I’m hosting.

Selection of Crowd Companies Activities: First half of 2016

Research:

  • January – The Future Of Mobility in An Autonomous World
  • March – Collaborative Economy Honeycomb 3.0
  • April – Market Snapshot: Crowd-Based Insurance Startups
  • April – Use Case Playbook: Brand as a Service (how brands can deploy on-demand models)
  • June – Use Case Playbook: Marketplace Model (how brands can manage P2P marketplaces)

In-Person Member Events:

  • January 21 – San Francisco, Member Dinner and Salon: Future of Mobility
  • February 9 – New York City,  Roundtable Dinner Discussion: Innovation Journey
  • March 12 – Austin, Texas, SXSW Brunch Member Panel and Social
  • April 28 – Hallmark Headquarters, Kansas City, Spring Summit: Co-Innovation for Your Brand
  • June 21 – BMW Headquarters, Munich, Germany, European Summit: The Global Collaborative Economy

Session Calls (Webinars with outside speakers, our own primary research)

  • #47 January – Collaborative Economy Foundations: Evolution to an Autonomous Future
  • #48 February – Recap of Salon: Future of Mobility in the Age of the Autonomous World
  • #49 February – Uber Fireside Chat with Chris Saad, Head of Product
  • #50 March – Adobe Kickbox Employee Innovation with Mark Randall
  • #51 April – Blockchain with Paul Vigna, Wall Street Journal Reporter and Author
  • #52 May – Playbook (how to guide): Brand as a Service with Jeremiah Owyang and Jaimy Szymanski
  • #53 June – Innovation Outpost with Evangelos Simoudis

Council Calls (Private member calls)

  • April – Food Waste with Dairy Management and Panasonic and others
  • April – Artificial Intelligence with David Schatsky, Deloitte Senior Manager
  • May – Uber API Discussion With Council Members

Last but not least, this is only possible by working with an amazing team, including Angus, Carl, Jaimy, Julie, Karen and our other partners.

Market Snapshot: Crowd-based Insurance Startups on the Rise

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Above Image: Crowd Companies has identified more than a dozen crowd-based insurance startups emerging from financial industry hotbeds like London, more will emerge from each region.

Crowd- and peer-based business models have impacted the hospitality industry, transportation space, financial sector, and other industries as indicated within the latest Collaborative Economy Honeycomb 3.0.

We’re now seeing the rise of a growing set of startups in the insurance industry that are enabling P2P, pro-rata coverage or crowd-based models that leverage the crowd. These emerging insurance tech startups include mostly peer-to-peer offerings, with a handful that are also improving the delivery of insurance through new technologies.

P2P insurance allows for more people to be insured by aiding underserved markets. It provides coverage for gig workers in the collaborative economy, while collective purchasing yields preferential pricing (or even funds returned) to those subscribed to peer-based insurance programs. With most of the emerging startups acting as brokers, the insurance carrier startups are still forthcoming in the insurance world. Lemonade is a clear example of this (though they’ve yet to launch).

There are several companies popping up for specialized insurance, too. From insuring cyclists to pet owners, and one––Bought By Many––that specializes in ‘long tail’ insurance. This means insure those items that aren’t often insured. Then, there’s Trōvthat provides ‘on-demand’ insurance, for those who want to insure in the moment by simply snapping a pic in the app, granting fast coverage. It’s coverage for when people seek access over ownership.

The map above of crowd-based insurance startups isn’t complete; there are more emerging, and we expect for each geographic region to develop their own capabilities. See the table below for additional details.

Sample of Crowd-Based Insurance Startups: 

Startup Category Description
OnSource On-Demand Inspection On-demand visual inspection by a group of independent crowd workers
trov On-Demand Insurance On-demand protection for belongings – home, auto, personal property. Easy to turn on/off.
Tong Ju Bao P2P Broker TongJuBao is a P2P insurance platform that helps its users manage risks. TongJuBao was developed by QiBao Investment Consulting (Shanghai) Co., Ltd, a WOFE (wholly owned foreign entity) and is ultimately controlled by its French founder, Tang Loaec. (CB Insights)
Broodfonds P2P Insurance – Crowdfunding Group of freelancers crowdfunding each other’s sick leave
PeerCover P2P Insurance – Crowdfunding Join group, pay fee upfront, users decide if claims are fair and can get up to 5x your balance to cover claims. ‘Crowdfunded cover’
MetroMile Pay-Per-Mile Auto Insurance Metromile is a car insurance startup that offers pay-per-mile insurance and a driving app. It is currently the only company offering pay-per-mile insurance in the United States.
CommonEasy P2P Insurance Broker CommonEasy is a peer-to-peer insurance platform that utilizes the power of the crowd to collectively insure and protect material possessions, homes, and livelihoods.
Besure P2P Insurance Broker Peer-to-peer risk sharing for property insurance, not currently launched.
Friendsurance P2P Insurance Broker Pools users into small groups. Brokers with 60 insurance partners.
Inspeer P2P Insurance Broker Users form small groups for auto, motorcycle, and home insurance. Users pledge to cover up to a certain amount.
Guevara P2P Insurance Broker – Auto Pools friends and acquaintances, or other small groups, for car insurance.
Gather P2P Insurance Broker – Business Business insurance shared across a group/community.
Bought By Many P2P Insurance Broker – Long-Tail Works with insurers to develop policies and negotiate discounts for long-tail insurance needs like pet insurance, cyclist insurance, etc.
SafeShare P2P Ins Broker – Share Econ Develop insurance products and partner with sharing economy businesses to offer users and providers insurance solutions. Work to fill in the gaps of insurance for Sharing Economy providers and users.
Cycle Syndicate P2P Insurance Carrier – Cyclists Bike insurance shared over a small group. Insurance held by cycle syndicate.
Lemonade P2P Insurance Carrier Lemonade is peer-to-peer insurance and one of the only carriers, but they’ve yet to launch. Groups of policyholders pay premiums into a claims pool, and if money is left at the end of the policy period, they get refunds.
Uvamo P2P Insurance Carrier Uvamo, which plans to launch by the end of the year, aims to cut administrative costs by offering property and casualty insurance direct to consumers online. Those policies can then be diversified and grouped into a pool, which collects all the premiums paid by the policyholders. -CNBC

 

Additional Resources:

Apple Invests $1B into Didi, the Chinese Ridesharing App

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Welcome, this industry newsletter shares key market changes, in a twice-monthly publication, curated by Jeremiah Owyang, Founder of Crowd Companies™, you can subscribe to the email newsletter on the footer of the homepage.

Apple Invests $1B into Didi, the Chinese Ridesharing App
Apple is moving into the ridesharing space with its recent $1B investment in Didi, a direct competitor to Uber in the Chinese ridesharing market. This is significant, as it lays the foundation for Apple to roll out a self-driving car fleet in China when the time is right, likely after it has obtained deep data on rider logistics, routes, and usage behaviors. This also puts tension between Apple and Uber, as well as further challenging Google as they, too, roll out self-driving cars with an expectation of a native ride-hailing app. This showcases how traditional internet companies like Apple and Google are becoming logistics companies––a shift that will massively impact global commerce. Get more information on Apple’s and Didi from Reuters.

CVS Invests in Curbside to Bring Mobile Orders Directly to Your (Car) Door
TechCrunch reports that CVS has invested in shopping startup Curbside, with plans to roll the curbside delivery option to its 9,600 retail pharmacy locations. Details on the investment were not disclosed. Curbside pickup is currently available at 350 locations, branded by the company as “CVS Express” and also accessible within its mobile application. To use the Curbside service at no additional fee, customers place items in their basket while shopping online or with their smartphone, then head to their local retail location for delivery to their car door within an hour. Orders are fulfilled by existing CVS staff who are alerted via Curbside’s software. Curbside also has relationships with other retailers, including Target, Sephora, and Levi’s.

As Uber and Lyft Leave Austin, Texas, Other Ride-Hailing Apps Move In
Uber and Lyft have ceased operations in Austin, Texas, due to a regulation dispute with the city.Tech Times reports that, despite launching a joint $8M campaign that aimed to gather support for a proposal that would exempt their drivers from fingerprinting in background checks, Uber and Lyft did not succeed. Citizens voted to block Proposition 1, a move that Lyft claims would make it much harder to hire part-time drivers in Austin. In the wake of Uber and Lyft’s departure, other ride-hailing apps have moved in, including Get Me, Wingz, and Fasten. These companies will be following Austin’s regulations fingerprint their drivers.

 


We want to hear from you! What are the market impacts of this week’s news stories? Email Crowd Companies™ Founder Jeremiah Owyang directly to share your thoughts.


Image from Pexels used under Creative Commons license.

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