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Having Trouble with Product Analytics? New Startup June Might Help

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If you find product analytics a pain in the neck, you might want to get yourself acquainted with June. A startup that advocates “data for all,” the company offers an easier way to make analytics dashboards and generate reports. Yup, you can do those with June even if you’re far from being a product analytics expert. 

So, how does this work? The app is basically built on clients’ data on Segment. And with Segment being the leading Customer Data Platform (CDP) that services more than 20,000 ventures, you know the system is built on steady ground.

That said, the app basically focuses on using a combination of graphical interface and templates. As a result, profiles without technical skills can use it. In a way, the no-code startup offers instant analytics, allowing users to access data simpler and faster. 

Despite anchoring on Segment data at the moment, June eventually plans to have a more diverse set of data sources in the future. That means clients will be able to use the platform to play with their data from various providers.

In an interview with TechCrunch, June co-founder and CEO Enzo Avigo said the company’s long-term vision is to be the “Airtable of analytics.” For those now familiar with Airtable, it’s a platform that orchestrates robust business solutions. And if you check out June, it seems that they’re already on their way to that goal. For example, the platform tracks user retention and keeps tabs on active users and engagement. But, just as crucial, it also tracks the acquisition funnel, making it a valuable resource.

June’s Value for Ventures

So, how exactly does June work? It’s very simple, actually, and that’s what makes it appealing to clients. A user picks a template and builds a report by choosing a template for a data source. Then, the platform generates the charts, organizes the data you put in, and displays the metrics you should pay attention to.

And here’s a great feature you’ll probably enjoy if you don’t have the time to look at charts all day – the app will alert you in Slack whenever you need to see something, either good or bad.

Investors seem to appreciate the value this startup offers to ventures of all sizes. The company raised a seed round of $1.85 million led by Berlin-based venture capital firm Point Nine. Other big players, such as Y Combinator, Kima Ventures, Speedinvest, Base Case, and eFounders, also joined the round.

How June is Empowering Small Businesses

Along with the capabilities it’s offering, perhaps one of June’s biggest values is a new mindset it’s trying to set. For one, it’s making small ventures realize that only large ventures can have metric-tracking capabilities. Their manifesto claims that with the help of their platform, it only takes an hour a week to track the metrics that matter.

In addition to that, the platform encourages a minimalist approach to data. Anchored on the Pareto principle or the 80/20 rule, June says you only need to keep an eye on two to three metrics per project. Otherwise, the data will just pile up. Plus, you probably don’t have the time to check on a ton of charts anyway.

Taking the minimalist approach to data means not dealing with the info you can’t use. Instead, focusing on the basics will give you insights on what to work on first. For instance, what makes people love your product, and what can you improve on? 

Just as important as your product development is how you position your brand in the industry. For instance, ecommerce companies know just how fiercer the playing field has become over the past year. So to gear small ventures for battle, June recommends tracking no more than three metrics to run the business. These metrics are the number of orders (quantity metric), the conversion rate (quality metric), and the return rate (health metric).

At the end of the day, June teaches clients that when it comes to metrics, sometimes, less is more. And it seems that more and more ventures are adopting the minimalist as well as niche-specific product analytics approach. In fact, the platform gains 10 percent more users per week, and many are taking advantage of their free plan that offers the basic metrics.

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Kuda Raises $55 Million Series B Funding Quicker Than Most Startups

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One of the most promising industries to launch a startup is in the digital banking or fintech sector. Untapped markets can become a goldmine for startups that aim to disrupt the banking infrastructure. And that’s what Kuda has experienced over the past couple of months. Read more about Kuda here and how they were able to raise millions for their Series B funding.

Kuda: An Overview

What sparked Babs Ogundeyi and Musty Mustapha to start Kuda? Excessive and inconsistent fees. Fueled to reduce that, they launched the fintech company to develop a savings app. Wanting to make banking easier and more accessible without any charges, the founders aim to change banking for Nigerians all over the world.

Series B Funding and Possible Kuda Expansion

Kuda raised $55M funding for Series B. For Kuda, this funding will be fundamental not only in the creation of new services on their savings app but also in launching it to Africans across the continent. Ogundeyi hopes that their app can become a widely used app for Africans globally. 

Expansion is vital for Ogundeyi and his team. He maintains that Nigeria is still a market crucial to their operations, but the funding will also go to expanding efforts.

Back in March 2021, Kuda raised $25M, all thanks to Valar Ventures. Back then, they had only 650K app users, but they doubled that number in August 2021, with registered users around 1.4 million.

This funding round is once again led by Valar Ventures. But Target Global and SBI have also played a role in helping the fintech startup raise $55 million. Target Global leader Ricardo Schäfer believes in the impact that Ogundeyi and Mustapha will have in Africa. But what excited him the most was the idea that 1 billion users would benefit from their app.

Faster Funding Rounds and Other Disruptors

It was surprising how quickly Kuda raised funding over the course of a few months, but it’s due to the current market conditions and the numbers presented to investors. A McKinsey report foresaw this growth, wherein digital financial services would become a major market. Plus, with inaccessibility, Kuda knew that they could change the way Africa could do digital banking.

Kuda isn’t the only fintech startup aiming to change the banking infrastructure in Africa. Other Fintechs changing the game are:

  • Airtel Africa
  • Chipper Cash
  • FairMoney

Meanwhile, here are the other fintech and banking companies also competing to stand out in the market:

  • Revolut and N26 (Europe)
  • WeBank (China)
  • Varo and Chime (U.S.)
  • Nubank (Brazil)

However, what makes Kuda stand out from the others is they have a banking license. With this in mind, they can develop services on their own. This will also help them create and develop other products and services and build credibility more than their competitors.

The Future of Kuda

Ogudenyi aims to launch their app to other African countries but won’t say where they’ll launch it. However, Kuda has an ongoing credit service (through an overdraft allowance) that proves the fintech startup is growing and moving forward.

He says that they do a pre-qualification screening for those who can receive credit. In the 2nd quarter of 2021, over 200,000 users were eligible. They gave over $200M in credit. And to ensure they remain with their purpose of creating their app, they do an allocation of overdraft proportion. It’s based on user activities, and they won’t overpay.

Due to Kuda’s promising mission towards banking in Africa, Valar Ventures seems eager to fund the fintech startup once more in the future. Andrew McCormack, a general partner of the investment firm, says that growth and population acceptance towards digital banking are factors in continuing their support.

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Sam Adams Is Brewing Space Beer

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SpaceX’s Inspiration4 mission was a raving success with the safety of the amateur astronauts confirmed when they touched down this past weekend. The first all-civilian space flight was historic in and of itself, but they did more than just visit. The four civilians also performed scientific experiments, made art, and brought up to 66 pounds of hops. Sam Adams is going to brew that into our very first “space beer.” 

That’s right, space beer. While we’re probably a way off from a space brewery, we’re definitely heading there with hops having visited space. If you’re wondering what they did with the hops in space, you’re not alone.

Far as we can tell, these hops simply made a trip farther into the heavens than any other hops before them. One might imagine a brewer saying, “one small hop for man, one giant hop for mankind.” 

No? Too lame? Anyway…

Booze. In. Spaaace. 

Sam Adams has been in the news lately with their Utopias beer being so strong it’s illegal in 15 states. While we don’t know the strength of this future “space beer” just yet, one University of Colorado research project suggests that beer brewed in space is higher in alcohol than those brewed on Earth. 

This is not the first alcoholic experiment in the heavens. In 1994, Coors participated in a test fermentation in space. In 2006, Sapporo produced a $110 six-pack using barley seeds that made a trip to space. In 2019, Anheuser-Busch sent several barley samples to the International Space Station to determine the effects of microgravity on barley seeds. Also in 2019, 12 bottles of Bordeaux were sent into space, giving them a value of $1 million per bottle. 

Turns out, if we travel somewhere, we want to know if we can get drunk. Take a look at Everest. If we trek, we drink. 

It’s just human nature. 

Space Beer… For the Children

In order to secure the rights to these space hops, Sam Adams made a donation of $100,000 to St. Jude’s Children’s Research Hospital as part of the overall theme to Inspiration4’s mission. Isaacman, the mission leader of Inspiration4, is aiming to raise $200 million for St. Jude’s. Elon Musk has personally pledged $50 million to the hospital. 

By tossing some money to a good cause, Sam Adams is able to secure the rights to brew the first space beer from the world’s first all-civilian space flight. If the motivation to brew space beer is “for the children,” then we’re all about it. 

When Can We Drink This Space Beer?

Sam Adams’ future space beer has yet to be named. All we know now is that it will be a traditional West Coast IPA and will be on sale later this fall. Sam Adams has stated that it is excited to brew with the out-of-this-world hops. 

And why shouldn’t they be? Anything with a “genuine” space label should be exciting to produce. While they’re not the first brewery to experiment with space booze, Sam Adams is the latest and therefore the hottest. With our attention spans lately, it pays to be a trending topic. 

Sam Adams isn’t the only thing to come from SpaceX’s Inspiration4 mission. We have a lot to learn from this historic flight. While Sam Adams may be the most fun, there is plenty to look forward to in terms of scientific development. 

What is it that Sam Adams said? 

“If ye love wealth better than liberty, the tranquility of servitude than the animating contest of freedom – go from us in peace.”

No, not that. The other thing. 

“This is Boston. Drink Accordingly.” 

No, that’s their current slogan. 

“America’s World Class Beer.” 

Nevermind. Call me when Sam Adams Space Beer is available.

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Scott Tong Shares Invaluable Product Design Insights and Culture for Startups

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Many startups are launching their businesses left and right, but some may not have a design plan in mind. This, in turn, could lead to challenges ahead for startups looking to stand out from the crowd. And it’s best that startups learn to value design and development. One such expert in the field is designer Scott Tong. He worked as the head designer for Pinterest and was the co-founder of IFTTT. Currently, he’s an advisor for Designer Fund. Here, we take a look at the advice he has shared for startups.

Scott Tong: Early Stage 2021 Tidbits

TechCrunch held their TC: Early Stage 2021: Marketing and Fundraising Bootcamp for early-stage startup founders from July 8 to 9, 2021. One of their guest speakers was Scott Tong. 

He spoke with Jordan Crook from TechCrunch to discuss early-stage design and its long-term impact on the startup. Plus, he even reveals how to find the right people for product design work. He disclosed two important points on what entrepreneurs should think about when it comes to design: reputation and existing vs. preferred.

For Tong, he considers a brand as the reputation of a company. Here, he examines the following ideas:

  • First impression
  • Repeated long-term behaviors
  • Unique and memorable moments

And the other point he brought up in Early Stage 2021 is “existing vs. preferred.” This means scrutinizing design and understanding how it matters in your company.

User: The Driving Force of a Product

Scott Tong is no stranger to TechCrunch. In his article for Techcrunch around four years ago, he emphasizes that when developing or creating a product, the one thing that matters is the user. He urges startups to ask the question, “what is right for the user?” than “who is right.”

In the article, he branched out three concepts that have value when it comes to developing a product. And finding the best people to understand your users.

The first of his points is about understanding and driving T-shaped people. It’s when you have someone well-versed in their field while collaborating with another person from another field. The best ones are curious, empathetic, and humble.

His second point deals with T-shaped people and user-centered thinking coming together. Your T-shaped people should always have the question of how to solve problems for users. And these T-shaped people will know that they can’t satisfy all of your user’s needs but identify the best solutions for your users.

Lastly, your startup should always know how to craft high-quality decisions. But what counts as one? He lists down what makes a decision, high-quality:

  • User-centric
  • Timely
  • Calculated
  • Communicated
  • Humble
  • Shared
  • Monitored
  • Considered
  • Balanced

Other Speaking Engagements

Early Stage 2021 wasn’t the only time Scott Tong shared his design insights and experiences as a founder. The Designer Fund advisor was a guest in the Startup Grind. In this event, he talked about being a designer for IDEO and Pinterest. At the same time, as a founder, he also touches on the subject of culture. 

He gives his advice for entrepreneurs who have lost their sense of purpose. He says to get in touch with values. Plus, he’s aware that disagreements are ever-present in any business setting. And to reduce friction, trust is key, and understand your team.

One other podcast tapped the ex-Pinterest Head of Design to discuss Design Entrepreneurialism. In this podcast, he talks more about his journey as a designer and working in the new venture: IMO Ventures. 

And the one thing he emphasizes about design is culture, which he also wrote in his TechCrunch article. Here, he says that design is connected to messages, wherein it means one thing to the designer and another to its viewer. That’s one way startups may look when considering product design.

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