Several years ago, the founders of Rippling realized that startups frequently—and unnecessarily—crumble under the weight of administrative processes. In particular, companies need to update employee information dozens of times across different systems each time someone is hired, their employment agreement changes, or they simply need access to a new app. These updates generally happen manually, which requires an excessive amount of time and can take away from other important processes. To address this issue, Rippling created the first system-of-record for employee data. This makes it possible to manage payroll, benefits, cloud apps, devices, and more from a single system. Since its inception, Rippling has grown quickly to employ over 250 people and serve thousands of customers. Recently, the company closed Series B funding that raised a total of $145 million, which speaks to the need for and utility of such a company, especially in a world that has virtually overnight become full of remote workers. More than ever before, the ability to coordinate different processes is extremely important, as is easily configuring access for workers who may be hundreds or thousands of miles away from the office. As the company continues to expand its services, it is focusing on the unique needs of its existing customers, as well as meeting the needs of new potential clients. Rippling Is Expanding Its Capabilities with BrexRippling is dedicated to expanding its services to meet the changing needs of its customers and other customers across the country. Recently, Rippling partnered with Brex to make corporate charge card administration as painless as possible. Built on the MasterCard network, Brex provides corporate account to startups with a range of benefits, including high limits, great rewords, and no personal guarantee requirements. Brex integrates fully with Rippling to allow startups to issue corporate cards to employees automatically during the onboarding process. The Rippling dashboard makes it simple to manage corporate cards and see who exactly has access to what. Companies can define criteria to predefine which hires get corporate cards and what spending limits each card has set. All transactions made on the Brex account get categorized automatically on the Rippling dashboard so that executives can see exactly where money is being spent and by whom. Card policy management also extends to transfers, title changes, and other employee status shifts. In other words, the limits on the card can be set to adjust automatically when individuals get a promotion or move to a new department. The partnership makes it painless to issue corporate cards as part of onboarding and then automatically change access as positions change. Furthermore, executives can easily track card use. Rippling Addresses the Needs of Insurance Brokers As Rippling expands, the company is also broadening its services to appeal to audiences beyond startup executives and human resources professionals. Recently, Rippling addressed the needs of insurance brokers by automating the quote process. Brokers often spend a great deal of time getting custom quotes for each of their groups and then dealing with the resulting paperwork. "The view of Rippling is that you want to do much more than just all-in-one HR. You want a system that cuts across every functional area of the entire company. So that employees get set up and managed everywhere." The time-consuming nature of this task cuts into margins, especially when dealing with small-group insurance. Moreover, brokers may lose business to digital brokerages that automate the process and thus have lower overhead. Rippling makes it possible for brokers to make quotes instantly and compare insurance plants with rates and other charges built in, which will save a considerable amount of time. Furthermore, Rippling has emerged as the first company to provide brokers with ready-to-send files of group-level applications and other documentation required by insurance carriers. This feature allows brokers to manage the new group application online from start to finish, which has never before been possible. Brokers can use Rippling to become more competitive in the small-group market while keeping operational costs low. Furthermore, the Rippling product allows these individuals to dedicate more time to speaking directly with clients and advising them, which will ultimately drive customer satisfaction. Rippling believes that technology can level the playing field by eliminating administrative tasks and allowing people to focus on key issues and this newest extension of services only affirms this dedication. Rippling Has Exciting Potential for Growth Rippling is on the path to expand its services and will continue to expand its offerings with new Series B funding. The company's rapid growth was recently acknowledged by both Forbes and Fast Company. Forbes placed Rippling on its list of the fastest-growing startups, which includes the 25 startups most likely to reach $1 billion in valuation. The magazine featured Parker Conrad, the Rippling CEO, in an article that ran in its sixth annual Next Billion-Dollar Startups issue. Forbes placed Rippling on its list of the fastest-growing startups, which includes the 25 startups most likely to reach $1 billion in valuation. The magazine featured Parker Conrad, the Rippling CEO, in an article that ran in its sixth annual Next Billion-Dollar Startups issue.
Blockchain is a technology that has a role in every industry from finance to medical research. In recent years, the term has been thrown around freely, especially among entrepreneurs and investors, but not everyone understands what blockchain is, nor uses the term correctly. Getting a grip on the basics of blockchain can help investors understand the potential of the technology and make good decisions about the companies they support. Many people mistakenly assume blockchain is the same thing as bitcoin, but the technology has many more applications beyond cryptocurrency. The first thing investors need to understand about blockchain is that, in essence, it’s a means of storing data. Blockchain is a coding format that helps build secure, immutable databases that are decentralized across several systems. A traditional database stores all information on a primary server that can be backed up to different locations. However, the database is still defined by the primary server, which makes the data vulnerable to attack from people who want to steal or manipulate it. This traditional approach also makes data private because owners of the server have tight control over who can access the data. Blockchain takes a different approach to data storage. The Basics of Blockchain: Hashes and LedgersIn blockchain, the basic form of data storage is the hash. Consider a simple ledger with three pieces of data. Each of these three lines of data is translated to a hash, a series of letters and numbers based on a complex mathematical formula that represents the original information. Creating this hash demands significant processing power. With each additional line of information, the hash from the prior line is added to link each data point. Now imagine that someone goes back and changes the first line. The hash for that line will change. However, the second line will contain the original hash from the first line, which now will not match the altered first line. This makes it easy to tell that the information was changed. Someone would need to change each line to avoid suspicion, but this would be extremely difficult and require an enormous amount of computing power. While the hash system is a powerful deterrent to hackers, they may still attempt to break in and change the code if they are after something very valuable. To prevent this, blockchain creates a public ledger. The database is duplicated on computers across the world, all of which are linked. Each computer is referred to as a node, and together they comprise the ledger. Whenever data on a public ledger is altered, the nodes check the information against each other. When one node does not match the records on others, it is changed to match the consensus. Thus, successfully changing the ledger would require hacking more than half of the computers on the ledger at the same time, to convince the system that the alteration is legitimate. Doing so is virtually impossible. Diving Deeper: Keys, Blocks, and ChainsNaturally, a database is not valuable if it cannot be edited at all. To make changes to the ledger, individuals need a cryptographic key, which makes it possible to add new records to the database as necessary. Nodes on a network update as needed, provided that changes were made with the proper key. However, it is important to note that the key allows the addition of data, not alteration. The key makes it possible to create a new entry that updates an older one, but the old one can never be deleted. This rule is crucial because it means that the record gives a full and unchangeable account of the history of the database. Because of this, blockchain is extremely transparent, which helps in tracking products or verifying ownership. The other major component of blockchain is its namesake. A database can quickly become unwieldy if it contains too much information. To keep better track of transactions, blocks are created. In simplest terms, a block contains a set number of discreet pieces of data. A hash is then assigned to each block, rather than each individual piece of data. This speeds up the process of finding a specific record, since the mathematical formula used for hashes is checked only every set number of data points rather than for each one. Blocks are chained together through the hashes. The chain goes back to the very first entry in the dataset. It’s this chain of blocks that has given us the name blockchain. Why Blockchain Is Such a Valuable ToolThe value of blockchain lies in its ability to create unique ownership of digital property. Blockchain can only record forward, not back. In other words, the technology can keep track of each owner of a particular set of data from the initial owner onward. Moreover, blockchain is designed to be copied. No matter how many times a particular piece of data is copied, it will always reflect the current owner, since the data cannot be changed or deleted. Thus, while the data may exist across many computers on a network, only one person is identified as the actual owner. This makes it possible to have ownership of data like a digital copy of a movie.
Of course, this explanation of the basic components of blockchain applies to a single application of the technology—blockchain can be used in a number of different ways. Novel applications of blockchain will be an important investment opportunity moving forward. Recently, three lawmakers wrote and submitted a bill requesting that the Secretary of Commerce study how blockchain can be used to enhance consumer protection. The bipartisan bill was introduced at the beginning of September and subsequently sent to the House of Representatives’ Committee on Energy and Commerce. If the bill passes, the Secretary of Commerce would need to partner with the Federal Trade Commission to create a report on the state of blockchain technology and, in particular, its applications to consumer protection. The legislation could help to better incorporate blockchain into consumer processes in the United States and move the country forward in terms of technology. A Look at the BillThe draft of the bill, known as the Advancing Blockchain Act, was initially circulated among members of Congress in May 2020. The bill has three primary aspects. One involves gathering additional data on the various industry sectors that develop blockchain technology and the public-private partnerships that have formed to promote the adoption of blockchain. In addition, the bill calls for the creation of a list of federal agencies that would have jurisdiction over these sectors and partnerships to ensure proper regulations moving forward. The study would also need to account for the assessment of marketplace trends and related risks. All of this work would enable Congress to undertake initiatives to promote the adoption of blockchain technology. The new bill entrusts the Secretary of Commerce with catalyzing the adoption of blockchain technology in the United States, particularly in terms of increasing consumer protections. Governments across the world are researching and developing their own blockchain pilot programs, so the bill will largely ensure that the United States will not be left behind in the process. Other governments and their industries are creating rules about blockchain, and it is imperative that the United States take part in the conversation to protect itself and its citizens. If the United States does not take action, the values of competing nations will be imposed on digital currency and issues could arise. How Other Countries Are Approaching Blockchain TechBlockchain allows for unprecedented digitization and tokenization that decentralizes many processes and holds great potential for the future of domestic and global economic development. Other countries are making significant progress in this area. China is preparing to launch a central bank digital currency, and Germany is proposing its own legislation to digitize securities using blockchain technology. As in other countries, German securities are securitized through a document, but a blockchain-based mechanism would provide an easier method to ensure compliance and facilitate the overall marketability of financial assets. The legislation would also provide more clarity in regards to the role of the regulators in charge of monitoring systems and maintaining decentralization. The German bill represents the country’s push to remain a key financial center for the world. Maintaining this position involves modernizing the securities law in the country in order to protect its financial markets. The move toward blockchain would encourage continued innovation in regards to financial transactions and consumer protection. This legislative proposal emphasizes the importance of similar initiatives in the United States, which could lose its position as a financial leader if it does not embrace similar innovation and incorporate new technologies into its financial markets. Blockchain makes it easier than ever to undertake international trading of securities, and countries will need to ensure that they create reliable, regulated systems to engage in these exchanges. The United Arab Emirates, Colombia, Canada, and Estonia have all been on the frontlines in the adoption of blockchain. The Question of Regulation and Crypto Trading VolumeThe call for greater adoption of blockchain technology and the increased regulation of transactions conducted through this medium have led to some questions. Some early adopters of blockchain and cryptocurrency believe that government involvement and regulation could hinder the number of transactions that occur. While blockchain can help to protect consumers, regulations will also be needed to reinforce these protections. A number of countries have already introduced regulations, and a general sentiment exists that crypto transactions may simply move to jurisdictions that do not have such heavy government involvement. This issue was recently researched by professors at the University of Pennsylvania’s Wharton School.
The professors looked at regulatory action undertaken in Japan, China, South Korea, Russia, the United Kingdom, and the United States in order to determine whether the volume of transactions decreased following the adoption of new policies. Ultimately, the research revealed that regulatory action in these six countries did not affect trading activity. No reduction in transactions was found. The research points to the ability of blockchain to effectively provide consumer protection through both internal and external means without impacting the overall rate of transactions. In other words, governments can continue to research and implement blockchain policies without worrying about the impact on domestic markets. Blockchain technology has a number of exciting applications, from biotech to global payments. Due to the coronavirus pandemic, a new application of blockchain technology has emerged. The food and beverage industry’s supply chains have come under scrutiny as various suppliers closed their doors and manufacturers were forced to scramble to find new sources of ingredients. Blockchain has emerged as a premier tool for getting more information about supply chains in a matter of seconds. The pandemic has put pressure on the food and beverage industry to manage and trace supply chains more effectively, and some companies are already using blockchain-enabled processes to promote their products. The Applications of Blockchain in the Food and Beverage IndustryJM Smucker, for instance, recently teamed with IBM to implement Farmer Connect, a food tracing platform built on IBM Blockchain. Farmer Connect is allowing the brand to trace a single-source coffee and prove this fact to consumers through a QR code directly on the packaging. The QR code gives consumers a direct view of the origins of the product and creates a new standard for transparency in food tracing. Farmer Connect could help trace the origins of many other products. This application does not directly address the supply problems many companies faced due to the pandemic, but it affirms the applicability of this technology to the food and beverage industry. A study published two years ago looked specifically at how blockchain can help keep secure and seamless digital records of food and beverage information. Blockchain does not store information in a single repository. Instead, it distributes data across a larger network that permits review, but not alteration. In other words, blockchain creates a permanent data log that can be quickly and easily accessed from anywhere with an internet connection. While blockchain was not being used in the food and beverage industry when this study was published, the pandemic highlighted the benefits of using the technology in this niche. Moving forward, blockchain could significantly alter the ways in which people think about supply chains in this industry. How Blockchain Can Facilitate Food and Beverage SafetyThe true value of blockchain in tracking the supply chain is the amount of information it can provide to both brands and consumers. In addition to tracing the product back to a specific farm, blockchain can provide information about farming and harvest practices, and even data like the temperatures of trucks used to transport the product. Blockchain could usher in a new era of product safety by enhancing transparency, which has become increasingly important to consumers as a result of the pandemic. By implanting blockchain, brands can ensure that no tampering happens along the route from grower to processor. Furthermore, consumers can gain immediate access to information about processing and regulatory compliance. Another IBM product known as Food Trust has a blockchain solution that makes it possible to view the certifications, tests, location history, and temperature data for various products. Because of the nature of blockchain, this information can be accessed easily and cannot be changed, so fraud is prevented while reliability is enhanced. While improving transparency is important to consumers, the question of how companies could use blockchain to pivot during times of increased pressure on supply chains still remains. The pandemic demonstrated the importance of agility when it comes to maintaining supply chains. Companies need to be able to carefully and quickly review supply chains when disruption occurs, which is another process facilitated by blockchain. Using Blockchain to Strengthen the Food and Beverage Supply ChainThe Food and Drug Administration (FDA) introduced its New Era of Smarter Food Safety blueprint recently. This plan calls for additional work to be done in the event that an item is recalled. The FDA endorses making technology-based traceability a priority so that outbreaks can be traced quickly and easily, thereby minimizing the impact on public health.
Using blockchain could make finding the source of an outbreak easier and speed up the process of removing contaminated products from store shelves. The technology could also help in the event of a recall to make sure all products are accounted for as quickly as possible. The FDA recognizes that such technology would also help ease the supply chain disruptions caused by issues like the pandemic. Better tracing through blockchain can help identify any weak links in a supply chain so that alternatives can be sought out before an issue even arises. Furthermore, the transparency of blockchain makes it very easy to identify other potential sources that will keep the supply chain operational. Ultimately, using blockchain would make the entire supply chain more flexible and durable, avoiding the issues that arose in March and April of 2020. Some supply chains remain disrupted and could benefit even from the late application of blockchain to food and beverage supply chains. The ability to maintain the supply chain and confirm compliance could streamline many of the administrative processes involved in the food and beverage industry to perhaps even reduce the cost of items. Technology is rapidly changing how individuals approach money, from creating simple solutions for getting rid of loose change to introducing completely new forms of currency, such as cryptocurrencies. Meanwhile, Blockchain.com has emerged as a premier company for managing cryptocurrency. The company has grown quickly since its inception nine years ago and plans to continue on this trajectory with the recent announcement of a strategy to get to 1 billion digital wallets by 2030. While Blockchain.com is only nine years old, it is still one of the oldest crypto companies still in operation, with a userbase just shy of 50 million people. The Historical Legacy of Blockchain.com and CryptoBlockchain.com introduced one of the foundational application programming interfaces (APIs) for crypto when it launched in 2011. Since then, companies like Bitpay, Coinbase, and Bitstamp have used the same interface to launch their own projects. Today, Blockchain.com sees about 1 billion API requests each day and accounts for more than a third of all Bitcoin transactions that take place on any given day. In 2020 only four crypto companies, including Blockchain.com, have had more than 100 million visits. Blockchain.com has had more than 105 million views (and more than 42 million unique visitors) since the start of 2020. Within a given week, the website serves new customers from more than 100 countries across the world. Blockchain.com has also played an important role in events essential to crypto culture. For example, nearly 2 million individuals joined the Blockchain.com block Explorer to watch when AntPool, a miner, committed the 630,000th block in an event known as the Halving. This event is the quadrennial reduction of the Bitcoin mining block reward. For many people watching, this was a momentous and encouraging event that speaks to the growing popularity of crypto and its increasingly important role in everyday life. The role of crypto may get even more of a jump start due to the unique situation created by the coronavirus pandemic. The Role of Cryptocurrency in a World Facing Coronavirus COVID-19 has had a remarkable and resounding impact on the world both socially and financially. Before the crisis, public debt was already hitting record levels. Now, debt has skyrocketed, creating a lot of anxiety. Unemployment has also hit record highs, so the concern about the economic future of the world is mounting. However, many centralized institutions have not responded meaningfully. People feel betrayed that they did not get more warning, and policies made to combat the economic fallout have fallen short. The federal government continues to print more money, and people are growing concerned about the possibility of steep inflation for many years to come. The solution to this economic crisis may rest, at least in part, with the Internet. The process of digitization, which was already underway before the crisis, has only become accelerated as a result of the crisis. The Internet is facilitating shopping, entertainment, and even work as people spend more time out of public places and in their homes. Moving forward, it would not be surprising for the Internet to develop its own financial system shortly as the entire environment goes global and economic opportunity becomes unbound from geography. Crypto is the obvious solution for a global financial system, especially as the average customer grows increasingly interested in Bitcoin and other forms of cryptocurrency. Blockchain.com Positions Itself to Become Premier Crypto CompanyIn a world ready to embrace crypto, Blockchain.com is positioning itself to become the leading provider of this service. The company has a unique philosophy that makes it stand out from others in the market. Specifically, it believes that people should have control over their finances and serve as their own bank. (Many other companies take a custodial approach and function more like a PayPal for crypto.)
However, Blockchain.com has made a different system work and proven that people can function as their own bank. This approach can help make crypto go more mainstream while also reducing transaction costs. Currently, Blockchain.com is in the process of improving its services and taking practical steps to improve the customer experience and pave the path toward a future build on crypto. Over the past two years, Blockchain.com has redesigned its user experience and recently unveiled it to users. For example, the company updated its Explorer service, which provides data for crypto, with a simpler and cleaner user interface for more intuitive navigation. The company also recently launched new charts and visualizations to improve its data products. Blockchain.com even revamped its core product, the Wallet, aiming to create the last digital wallet anyone will ever need with easy purchases of crypto and direct connections to individual checking accounts. The Wallet also makes it possible to hold Bitcoin in an interest account to earn money on holdings at a much higher rate than in traditional banks. Users can also borrow against their crypto and add other assets to the Wallet. Blockchain technology is having a profound effect on how business is conducted in a number of industries. Most people associate Blockchain with cryptocurrencies like Bitcoin or with payment processing, but the technology has much wider applications. In the most basic sense, Blockchain is an open ledger that can be accessed by users with appropriate credentials. The blocks in the chain include encrypted data. This data belongs to the specific block, as well as the one that comes before it. When the data in the block does not match the data in the previous block, the entire chain becomes invalidated. In other words, the chain is secure and immutable. This is what makes it so valuable. Blockchain can be customized to record and track virtually any sort of information, which is how it can be adapted to work within a wide range of industries. One of the industries poised to benefit significantly from Blockchain technology is healthcare. Three of the ways Blockchain is being applied in the healthcare industry are: 1. Electronic Health Records One of the biggest challenges in healthcare is sharing information between providers. When information is readily accessible, physicians can collaborate more effectively and avoid repeating tests, which saves patients money and time while providing care. Unfortunately, the various electronic health records (EHRs) used between different hospital systems do not regularly share information with each other. A barrier to sharing data is ensuring that the information remains secure. This is of paramount importance given the sensitive nature of healthcare information. Blockchain can be used to store a medical record securely: only those granted access would be able to use this information. Moving the data to a central place outside the EHR could help systems talk to each other more effectively. With a Blockchain-based approach to healthcare data, patients would own their information. People would control their data and be able to grant access to providers as they seek out care. Already, a number of leading medical institutions are piloting Blockchain in EHRs. For example, Mayo Clinic is working with the startup Medicalchain, and Massachusetts General Hospital has forged a partnership with MedicBloc. These partnerships will help these healthcare systems develop and pilot systems that could radically change health data management. Providers often spend a lot of time tracking down records across different health systems. Healthcare delivery could become much more efficient if patients granted direct access to this information in a secure manner. Drug Supply Chain A serious outbreak of meningitis that occurred in 2012 was traced back to a specific compounding pharmacy. Because of this issue, Congress passed legislation to improve tracking of drugs so that any issues discovered in the future can be more effectively addressed. The legislation requires both downstream and upstream information transmission about products used in the clinic. Each package and case of product is required to have a unique identifier so that information about the drug can be traced accurately and immediately. Currently, however, no one source has all the information about the chain of custody as products move from manufacturer to clinic. Blockchain can provide a centralized source of information as products move across the supply chain. The technology provides security of information that could help combat counterfeiting and other problems while also providing immediate access to all important pieces of information related to a product. If the ledger gets tampered with at any point along the supply chain, the product can be rejected as this could represent counterfeiting or other issues. Some vendors are already piloting Blockchain solutions that help accurately track the supply chain of drugs, such as Chronicled, which spearheaded the MediLedger Project. Staff Credentialing To maintain a high level of patient care, healthcare organizations must verify the credentials of medical staff. Many phone calls, letters, and faxes are sent to ensure that new hires are who they say they are. On the other hand, Blockchain innately verifies and updates incrementally. This means it can be used to reduce the time and expense associated with this process while fostering a safe clinical environment.
Various Blockchain encryption applications can be used to create a secured database that can be accessed by healthcare organizations to verify information immediately. Individuals can be granted access to an entire ledger or just a portion depending on the nature of the inquiry. The Hashed Health Consortium launched a pilot program in 2017 related to this issue. The program created a registry based in Blockchain technology that provided a reliable record of various certifications and credentials held by participants. The following year, the consortium created a provider credentialing product based in Blockchain technology that securely relays information about a clinician’s particular permissions when it comes to scope of practice. This sort of program could become more widespread in years to come, especially with the coronavirus pandemic putting more pressure on institutions to expand their house staff. Technological advances are having a major impact on business operations in many ways, from facilitating logistics to simplifying employee management operations. Rippling has emerged as a leading startup in employee management with incredible tools that remove much of the busy work involved in onboarding new employees. The man behind Rippling is Parker Conrad, the former CEO of Zenefits. Before the launch of Rippling, Conrad spent years working with a team of 40 engineers to build integrations with virtually every popular business tool. The final product efficiently combines human resources (HR), information technology (IT), and single sign-on services. In the past few years, several new startups have begun offering specialty software that can drive productivity and collaboration in the office. While this has enhanced how we work, whenever someone new joins a company, it takes a lot of busy work and lost productivity to get them familiar and signed in to each of these tools. Rippling addresses this issue by providing single-click onboarding. Instead of adding the new hire to each tool one at a time, Rippling reduces the entire process to just 90 seconds. As soon as Rippling hit the market, it began growing revenue rapidly, attracting the attention of investors. The company raised $45 million in its Series A round, led by Kleiner Perkins and Mamoon Hamid with investments from Threshold Ventures, Y Combinator, and Initialized Capital. Creating Seamless, Easily Implemented Business SolutionsRippling’s Series A round closed last year with an overall valuation of $270 million. Conrad stated that the company will reinvest this money into research and development, as well as its engineering department, to continue innovating and meeting the needs of modern businesses. Enterprise software can be an incohesive mess, and apps often do not talk to each other. Therefore, adding a new team member means filling in information, setting permissions, and manually entering the person into each app. The same process happens when someone is promoted or leaves the company. Most modern companies maintain HR systems, IT software, and productivity apps like Slack, Dropbox, GitHub, and Salesforce, so manually updating all this software can account for the vast majority of administrative work. Often, startups get caught up in this administrative work without realizing how big of a burden it has become. While manual administration is manageable at 50 people, it becomes overwhelming once the company scales. At 500 employees, the time it takes to get each person oriented becomes nearly impossible to manage. Believing there was a better way, Conrad was committed to creating a product that is easy to use and can be seamlessly integrated. He maintains that any product requiring a call to Rippling for help could be designed better. For a period, he single-handedly dealt with user complaints at Rippling, which allowed him to refine the product quickly and address issues that might otherwise not have been easily identified. Thinking Beyond Engineering and Product IntegrationRippling operated in stealth for multiple years as its platform was developed. It only came out of stealth about two years ago, which is around the time the company began hiring employees outside of engineering. Rippling then established two new business models. One allows enterprise tool makers to make their software available through the Rippling gateway. When a purchase is made through the gateway, Rippling receives a small percentage. This gateway makes it easy and simple to add new functionality to a company using trusted brands like Mailchimp and Zoom. Conrad recognized that trying to outbuild these established brands would be pointless when Rippling could simply facilitate their adoption. The second model focuses on engineering and product development. No major brand has emerged as a favorite when it comes to some key parts of HR and IT stacks, such as commuter benefits and PTO management, so it is easy for Rippling to create products that meet these needs. Moreover, Rippling can charge prices similar to other solutions and beat competitors since the homegrown systems integrate easily into the existing Rippling platform. While other companies have emerged in the single sign-on space, they do not have the same robust features as Rippling. Many of these companies market themselves as identity layers, but they mostly function as password managers without the full integration available through Rippling. Partnering to Deliver the Best Products PossibleRippling continues to expand its product suite through strategic partnerships. In June 2020, the company joined forces with 1Password, a company that focuses on enterprise password management. 1Password has emerged as a favorite among startups due to its ability to facilitate unique, secure passwords that protect against attacks without the headache of keeping track of them. The partnership will bring the 1Password capabilities directly to Rippling customers and, in turn, reduce some of the demand made on IT departments while enhancing overall security.
1Password research has shown that more than 80 percent of employees are now working from home due to the coronavirus pandemic, so security is more important than ever before. Moving forward, it will be exciting to see Rippling’s partnerships expand to continue addressing the needs of both small and large companies. Due to the coronavirus pandemic, which has dramatically impacted the global economy, many people are turning to startups for assistance in regards to ensuring more secure online transactions and quickly obtaining personal loans. In regards to the latter, the company Lendable can help. With the belief that securing a loan should not be a complicated or lengthy process—particularly in this digital age—Lendable created a platform that leverages technology in order to eliminate many of the hassles associated with the loan process and to simplify the experience. Lendable’s process does not involve long forms, waiting in long lines, or getting stuck on hold with service providers. Instead, the company provides a straightforward application with transparent terms and no hidden fees, along with online application management and customer service available by email, phone, text, and live chat around the clock. Lendable works with a number of respected companies, including uSwitch, TransUnion, Noddle, MoneySuperMarket, and GoCompare to provide the best service possible. Once approved, individuals can expect a loan to be transferred to their account within two hours. Furthermore, there are no fees or penalties associated with paying off a loan early. How Does Lendable’s Process Work?In order to obtain a loan from Lendable, you will start by providing your information via an online application form that takes just a few minutes to complete. Also, the company only performs a soft credit inquiry, so your credit score will not be affected by the application, as it can be when applying for other loans. Immediately after completing the application, individuals will gain access to the live rate offered to them. The dashboard makes it possible to change the requested amount and the duration of the loan to determine how those variables affect the offered rate. People will have the opportunity to tailor the loan to their unique needs and budget. Once you find your ideal loan, the deal can be executed immediately. One of the best parts about using Lendable is its speed and transparency. The decision on a loan is made online instantly, and as soon as you agree to the rate offered, the money will be quickly transferred. Repayment will begin the following month. The loan incurs a one-time, nonrefundable fee based on the loan amount. This fee is not due upfront and is covered through the monthly payments. Moreover, it is included in the quote so there are no surprises once repayment begins. Who Is Eligible for a Loan from Lendable?Currently, only people who have lived in the United Kingdom for at least three years are eligible for a loan from Lendable. Also, individuals need to have a monthly income of at least 800 pounds and must not have any county court judgments (CCJs) on their record. There are no requirements beyond these to apply for a loan. The Lendable platform considers hundreds of data points from a personal credit file when generating personalized quotes and deciding whether to approve a loan. Loan amounts offered are between 1,000 and 20,000 pounds, and the terms range from one to five years. Users can adjust the amount and repayment period to find out how those variables will affect the interest rate and required monthly payments. Lendable’s soft credit search facilitates the pre-approval process. This means that individuals will be approved provided that they can verify the information in the report. Importantly, all quotes are subject to a manual review by the decisions team. The rate quoted is based on Lendable’s algorithm, and the interest rate is non-negotiable. What Are the Repayment Terms?One question that many people have about Lendable’s loans relates to the terms of their repayment. Due to the coronavirus pandemic, many people have been struggling to make their monthly payments. Lendable understands that unforeseen circumstances can occur. Those who are unable to make their monthly payments because of the pandemic can either defer them for a short time or make reduced payments for up to three months. Neither of these options will affect a person’s credit score provided that they communicate with the company and enroll in the appropriate program. Individuals should recognize that interest continues to accrue during periods of deferral or reduced payments.
Lendable is ready to work with its customers to develop a plan that works for both parties. Individuals experiencing financial difficulties are encouraged to contact Lendable and are welcome to consult with a third-party organization such as the Money Advice Service, the National Debtline, and StepChange Debt Charity for free and impartial advice. Originally posted at BusinessCloud.co.uk | June 29, 2020 In recent years, the way that sports fans have been able consume and experience live sporting events has changed at a rapid pace. However, in these unprecedented times of the Covid-19 crisis, the previous lockdown and current social distancing measures across the world have devastated the sports industry. Finding an answer to the question of how traditional sports will keep their fans, broadcasters, and sponsors engaged in the coming months and years is something many sporting organisations will need to quickly solve in order to survive. I have followed the sports broadcasting market throughout my career and it has been a fascinating journey to see how the market has evolved into the huge mainstream global industry it is today. But what we face now is a truly exceptional challenge. The sports world must – like almost all other businesses – adapt quickly to survive. Looking at the industry before the Covid-19 crisis hit, we have generally seen over the last decade how live sports events have gradually dominated viewing on regular television. For example, in depth research in the US showed that in 2018, more than 90% of the most watched television broadcasts during that year were live sporting events, a figure which had steadily risen from approximately 50% in 2011. However, for the first time, these numbers have started to fall, not because there has been a decrease in the active audience numbers for live sporting events, but because of the changing medium, platform, and format of live sports streaming. ‘Over the Top’ (OTT) mobile and social video alternatives is often hailed as a main reason for the decline in traditional television viewing and these alternatives are being embraced by a whole range of companies in the sports industry, from traditional satellite providers, to the online streaming giants who have moved rapidly to invest in sports rights, such as Amazon Prime and Facebook, and many sports organisations themselves. The aim of these OTT services is to increase and enhance viewers’ access to on-demand video content across the world; particularly as the younger generation of viewers demand greater access to content from anywhere and at any time. How traditional sports engage and utilise these types of OTT platforms could prove crucial in the battle to weather these turbulent times. It is the access to video content where Grabyo, one of NJF’s portfolio companies, has the potential to really make a difference as the world adapts to the future of live streaming. Introducing GrabyoWhat Grabyo does is to allow broadcasters and content rights holders to instantly create, edit, share and monetise video clips in real time. This enables them to capitalise on the significant commercial opportunities provided by sharing live video across web, social and mobile – thereby helping brands to engage with fans. And, with more than 80% of the company’s customers being in the sports industry, the company is in a great place to help their customers as the new world of sports consumptions evolves.
Examples of how Grabyo – who note that they have seen an 80% increase in daily video consumption over the past month – is responding to the COVID-19 crisis include their partnerships with: Apex Legends Global Series to create a cloud-based production platform, built in five days, to support the increasing demand in the e-sport, and in the more traditional sport of cricket, the Caribbean Premier League to broadcast classic matches from the last seven years with new commentary and real-time updates as they happen. However, it is not just in sports where Grabyo has responded. In April, Grabyo and MTV International announced that it had team up to create a fast-turnaround live and interactive digital gameshow series designed to entertain viewers during the coronavirus pandemic. MTV Games Live will be streamed live on MTV’s Facebook and YouTube channels and produced using the Grabyo platform. Founded in 2013 by serial entrepreneur Will Neale and led by CEO Gareth Capon, Grabyo’s ever-growing list of big-name customers includes Sky, La Liga, The Premier League, Wimbledon, Fox Sports, and Reuters. Grabyo has enjoyed its rapid international expansion with partnerships now with over 60 premium rights holders, brands, and publishers in Europe, North America and Asia Pacific. A regular fixture in the FT’s 1000: Europe’s Fastest Growing Companies list, Grabyo has also attracted an impressive backing from a range of high-profile investors. Alongside NJF Capital, investors include Tony Parker, the former French-American professional basketball player, as well as ex-Arsenal Football Club stars Thierry Henry, Cesc Fabregas, and Robin van Persie. Originally published at Businesscloud.co.uk | May 27, 2020 The traditional bricks and mortar-based retail sector has been substantially changed by a new wave of technological advancement, shift to online shopping and advertisement activities. Retailers who have not been able, or have been slow or unwilling to adapt, have invariably experienced difficult times as a result and many have even been forced to close. However, as with all business industries, seismic changes also bring opportunities for innovative companies to increase efficiency and help established retailers to adjust for new realities. In 2007, e-commerce represented only 5.1% of total retail purchases across the world. Now it accounts for more than 16% and this trend has no doubt been further accelerated by Covid-19 pandemic and lockdown measures taken by the Government around the world. I have been following this trend closely in the last decade, and since 2012 have invested in a number of early-stage companies which are providing innovative, digital solutions to the retail sector. As an investor, I try to identify companies utilising the latest technology to disrupt and redefine traditional industries and business models – and the following three are good examples. Bolt: a payments company improving the customer checkout process and thereby the turnover of e-retailersBolt is a payments platform that provides an optimised checkout experience that has reinvented the concept of the one-click buy. The idea is that online retailers can utilise Bolt’s technology to encourage and facilitate their customers to be able to make purchases more quickly with less clicks, faster page loading, fewer fields to complete and a faster time from decision to buy to purchase to completion. Bolt democratizes one-click buying by making it accessible to e-merchants who are not on Amazon. However, their new payment processor goes even further: it also avoids the problems linked to fraudulent chargebacks, which for most e-merchants would result in 2 to 3% of losses. Bolt represents a valuable alternative to traditional payment solution providers. Gideon Brothers: AI and robots to improve the supply chainGideon Brothers specialises in robotics. The company uses artificial intelligence (AI) and robots to improve the efficiency of logistics centres serving commerce. Gideon Brothers has been successful in converting a wide variety of industrial machines and vehicles into autonomous mobile robots. The company’s first product is an autonomous transport vehicle, capable of moving up to 800kg of goods. Digitisation and automatisation also facilitates the flow of goods, helps to improve efficiency and reduces costs. Supply chains could really benefit from adapting to new technologies like those offered by Gideon Brothers. It is no coincidence that Gideon Brothers has been recognised as one of Europe’s top AI rising stars at a time when AI and logistics are proving to be the perfect match. reBuy: a secondary marketplace for used electronic devicesreBuy is an online marketplace that allows customers to buy and sell used electronics and media. This includes tech products, such as smartphones, tablets and computers. The market-leading German platform, which also operates in the UK, Italy and Spain, matches supply and demand. Consumers can also re-sell items to reBuy itself to be refurbished and sold on.
Another attraction of reBuy is that it has a really positive impact on the environment. Its online marketplace makes it possible to extend the life of electronic products which, as we know, require declining resources for their design. At the same time, it enables people on low budgets to afford and enjoy good quality, inexpensive premium products. |
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