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With a fresh $46M, Instabug aims to do more than fix your app’s bugs

Instabug, a startup that aims to help mobile developers monitor, identify and fix bugs within apps, has raised $46 million in a Series B funding round…

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Instabug, a startup that aims to help mobile developers monitor, identify and fix bugs within apps, has raised $46 million in a Series B funding round led by Insight Partners.

The raise comes just over two years after the startup raised $5 million in a seed round led by Accel, which doubled down on its investment in the latest financing. New backers Forgepoint Capital and Endeavor also put money in the round. The company declined to reveal its current valuation. The new capital brings its total equity raised to date to $54 million. 

A lot has changed for Instabug, which has dual headquarters in Cairo, Egypt and San Francisco, since its last raise. For one, the company expanded its focus from bug and crash reporting to building out application performance monitoring software “to capture everything around mobile performance.”

The company was founded in 2013, first released its offering in beta in 2015, and publicly launched in February 2016 during its time at Y Combinator. Its recent decision to expand into monitoring was driven by the fact that consumers have higher expectations from the apps they’re using and companies need to be more proactive to prevent bugs from occurring in the first place, said Instabug CEO and co-founder Omar Gabr in an interview with TechCrunch. For example, he said, four years ago, if an app wasn’t crashing, that was considered good. But now, users increasingly expect apps to not only not crash, but be slick and run well.

“Our goal is to make sure that the developers and the engineering teams who are building apps have full visibility about how that app operates and is performing,” he told TechCrunch. “We want to give them the right tools so they can be proactive. For example, so they can see if an issue is happening, and understand what’s going on before a user is giving bad reviews or ranting on Twitter.” 

Instabug saw “record” growth in 2021, a year in which it saw its ARR double and number of enterprise customers grow by 10 times, landing new clients such as DoorDash, Verizon, Qualtrics, Porsche and Gojek to join existing ones such as Clubhouse, according to Gabr. Overall, Instabug counts “many” of the fortune 500 companies and top 100 apps on the app store as customers, he added.

Gabr went on to share that in 2021, the company’s software sat within 2.7 billion mobile devices, processed 110 billion mobile sessions (up at least 20x from 2020) and helped customers resolve 4.2 billion issues. 

Image Credits: Instabug

With so much adoption on the enterprise side, Instabug last year invested more on compliance and security so it would be able to onboard large organizations, including banks and telcos. Landing more enterprise clients has been one of the main drivers of the company’s revenue growth.

“Mobile in general has been around for 15 years, but with the pandemic, it became the primary way we interface with brands and services around us,” Gabr told TechCrunch.Before for large companies, mobile was nice to have but now, it’s a must have — a core product, not just a channel or marketing thing.”

When an app crashes, Instabug automatically reports the incident back to its customer. The company says it goes beyond crash reporting, though, to give mobile developers detailed information such as where the bugs are, how an app is performing generally and when it’s completely failing.

“There are so many alternatives to apps out there, and if users don’t like one, they’ll delete and use another,” Gabr said. “Companies can’t afford to be reactive to issues.”

Combining performance monitoring with crash reporting was the “missing piece of the puzzle,” Gabr said.

“The data we gather helps us make our product better,” he added. “Now they can get the full picture of every single interaction happening on the phone and if the customer is having a really good experience or a bad one.”

Instabug has a standard SaaS business model, charging companies that are building mobile apps an annual subscription fee based on how big the app is. For example, the product is free for a company whose app has less than 10,000 monthly active users. As a business grows and more sessions are conducted on their app, they pay more, according to Gabr. In other words, how much revenue Instabug makes is directly correlated to the number of sessions that are processed on its customers’ apps.

While the company was profitable at one time, it is not currently so (as it has been doubling down and investing more on growth), according to Gabr, who says his team has been “really capital efficient.” It plans to use its new funding toward more hiring and investing in product development. Presently, it has 190 employees, with a predominantly Cairo-based engineering team.

Ganesh Bell, managing director at Insight Partners, said in doing its due diligence, his firm concluded that Instabug was “developers’ most trusted solution for performance monitoring on the mobile app stack.”

“Because Instabug focuses on mobile platforms exclusively, we believe it has the best mobile-specific capabilities and comprehensive mobile platform and framework coverage,” Bell told TechCrunch. “Instabug is flexible enough to deploy on a single app or for testing in a development environment but can immediately scale to monitor even the largest global enterprises’ app portfolios.”

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Cruise Line Drops Pre-Cruise Covid Testing Rule

The major cruise lines walk a delicate line. They need to take the actual steps required to keep their passengers safe and they also need to be aware of…

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The major cruise lines walk a delicate line. They need to take the actual steps required to keep their passengers safe and they also need to be aware of how things look to the outside public. It's a mix of practical covid policy balanced with covid theater.

You have to do the right thing -- and Royal Caribbean International (RCL) - Get Royal Caribbean Group Report, Carnival Cruise Lines (CCL) - Get Carnival Corporation Report, and Norwegian Cruise Lines (NCLH) - Get Norwegian Cruise Line Holdings Ltd. Report have been doing that with very meticulous protocols-- but you also have to show the general public you're taking the pandemic seriously. The cruise industry has been under the microscope of both public perception and the Centers for Disease Control (CDC) since covid first appeared.

That's not because you're likely to get infected on a cruise ship than at a concert, sporting event, theme park, restaurant, or any other crowded space. It's because when you get sick at one of those locations nobody can pinpoint the source of your infection

Cruises last from 3 days to 7 days or even longer and that means that some people will get covid onboard and that will be blamed on the cruise industry. To mitigate that Carnival, Royal Caribbean, and Norwegian have rigid protocols in place that require passengers 12 and over to be vaccinated as well as pre-cruise covid tests taken no more than two days before your cruise leaves.

Once cruise line has dropped that testing requirement (at least on a few sailings) and that could lead Royal Caribbean, Carnival, and Norwegian to follow. 

Sina Schuldt/picture alliance via Getty

Holland America Drops Some Covid Testing

As the largest cruise lines sailing from the U.S., Royal Caribbean, Carnival, and Norwegian don't want to be the first to make major covid policy changes. They acted more or less in tandem when it came to loosening, then dropping mask rules and have generally followed the lead of the CDC, even when that agency's rules became optional.

Now, Holland America cruise line has dropped pre-cruise covid testing on a handful of cruises. It's a minor move, but it does provide cover and precedent for Royal Caribbean, Carnival, and Norwegian to eventually do the same.

"Holland America Line becomes the first US-based cruise line to remove testing for select cruises. Unfortunately for those taking a cruise from the United States, the new protocols are only in place for certain cruises onboard the company’s latest ship, the Rotterdam, in Europe," Cruisehive reported.

The current CDC guidelines do recommend pre-cruise testing, but the cruise lines into following those rules. By picking cruises sailing out of Europe, Holland America avoids picking a fight with the federal agency just yet, but it will be able to gather data as to whether the pre-cruise testing actually helps.

Holland America has not changed its vaccination requirements for those cruises which mirror the 12-and-up rule used by Royal Caribbean, Carnival, and Norwegian.

Some guests have called for the end of the testing requirement because they believe it's more theater than precaution because people can test and then contract covid while traveling to their cruise.

The Current Cruise Protocols Work

Royal Caribbean President Michael Bayley does expect changes to come in his cruise line's covid protocols, and he talked about them during Royal Caribbean's recent President's Cruise, the Royal Caribbean Blog reported.

"I think pre cruise testing is going to be around for another couple of months," Bayley told passengers during a question and answer session. "We obviously want it to go back to normal, but we're incredibly cognizant of our responsibilities to keep our crew, the communities and our guests safe."

People do still get covid onboard despite the crew being 100% vaccinated and all passengers 12 and over being vaccinated, but the protocols have worked well when it comes to preventing serious illness.

Bayley said that the CDC shared some information with him in a call.

"The cruise industry sailing out of the US ports over the past 12 months and how many people have been hospitalized with Covid and how many deaths occurred from Covid from people who'd sailed on the industry's ships, which is in the millions," he said, "And the number of people who died from COVID who'd sailed on ships over the past year was two."

That success may be why the major cruise lines are reluctant to make changes. The current rules, even if they're partially for show, have been incredibly effective.

"Two is terrible. But but but against the context of everything we've seen, that's it's truly been a remarkable success." he added.

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Visualizing A Decade Of Population Growth And Decline In US Counties

Visualizing A Decade Of Population Growth And Decline In US Counties

There are a number of factors that determine how much a region’s population…

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Visualizing A Decade Of Population Growth And Decline In US Counties

There are a number of factors that determine how much a region’s population changes.

If an area sees a high number of migrants, along with a strong birth rate and low death rate, then its population is bound to increase over time. On the flip side, as Visual Capitalists Nick Routley details below, if more people are leaving the area than coming in, and the region’s birth rate is low, then its population will likely decline.

Which areas in the United States are seeing the most growth, and which places are seeing their populations dwindle?

This map, using data from the U.S. Census Bureau, shows a decade of population movement across U.S. counties, painting a detailed picture of U.S. population growth between 2010 and 2020.

Counties With The Biggest Population Growth from 2010-2020

To calculate population estimates for each county, the U.S. Census Bureau does the following calculations:

      A county’s base population → plus births → minus deaths → plus migration = new population estimate

From 2010 to 2020, Maricopa County in Arizona saw the highest increase in its population estimate. Over a decade, the county gained 753,898 residents. Below are the counties that saw the biggest increases in population:

Phoenix and surrounding areas grew faster than any other major city in the country. The region’s sunny climate and amenities are popular with retirees, but another draw is housing affordability. Families from more expensive markets—California in particular—are moving to the city in droves. This is a trend that spilled over into the pandemic era as more people moved into remote and hybrid work situations.

Texas counties saw a lot of growth as well, with five of the top 10 gainers located in the state of Texas. A big draw for Texas is its relatively affordable housing market. In 2021, average home prices in the state stood at $172,500$53,310 below the national average.

Counties With The Biggest Population Drops from 2010-2020

On the opposite end of the spectrum, here’s a look at the top 10 counties that saw the biggest declines in their populations over the decade:

The largest drops happened in counties along the Great Lakes, including Cook County (which includes the city of Chicago) and Wayne County (which includes the city of Detroit).

For many of these counties, particularly those in America’s “Rust Belt”, population drops over this period were a continuation of decades-long trends. Wayne County is an extreme example of this trend. From 1970 to 2020, the area lost one-third of its population.

U.S. Population Growth in Percentage Terms (2010-2020)

While the map above is great at showing where the greatest number of Americans migrated, it downplays big changes in counties with smaller populations.

For example, McKenzie County in North Dakota, with a 2020 population of just 15,242, was the fastest-growing U.S. county over the past decade. The county’s 138% increase was driven primarily by the Bakken oil boom in the area. High-growth counties in Texas also grew as new sources of energy were extracted in rural areas.

The nation’s counties are evenly divided between population increase and decline, and clear patterns emerge.

Pandemic Population Changes

More recent population changes reflect longer-term trends. During the COVID-19 pandemic, many of the counties that saw the strongest population increases were located in high-growth states like Florida and Texas.

Below are the 20 counties that grew the most from 2020 to 2021.

Many of these counties are located next to large cities, reflecting a shift to the suburbs and larger living spaces. However, as COVID-19 restrictions ease, and the pandemic housing boom tapers off due to rising interest rates, it remains to be seen whether the suburban shift will continue, or if people begin to migrate back to city centers.

Tyler Durden Sat, 07/02/2022 - 21:00

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Tesla EV deliveries fall nearly 18% in second quarter following China factory shutdown

Tesla delivered 254,695 electric vehicles globally in the second quarter, a nearly 18% drop from the previous period as supply chain constraints, China’s…

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Tesla delivered 254,695 electric vehicles globally in the second quarter, a nearly 18% drop from the previous period as supply chain constraints, China’s extended COVID-19 lockdown and challenges around opening factories in Berlin and Austin took their toll on the company.

This is the first time in two years that Tesla deliveries, which were 310,048 in the first period this year, have fallen quarter over quarter. Tesla deliveries were up 26.5% from the second quarter last year.

The quarter-over-quarter reduction is in line with a broader supply chain problem in the industry. It also illustrates the importance of Tesla’s Shanghai factory to its business. Tesla shuttered its Shanghai factory multiple times in March due to rising COVID-19 cases that prompted a government shutdown.

Image Credits: Tesla/screenshot

The company said Saturday it produced 258,580 EVs, a 15% reduction from the previous quarter when it made 305,407 vehicles.

Like in other quarters over the past two years, most of the produced and delivered vehicles were Model 3 and Model Ys. Only 16,411 of the produced vehicles were the older Model S and Model X vehicles.

Tesla said in its released that June 2022 was the highest vehicle production month in Tesla’s history. Despite that milestone, the EV maker as well as other companies in the industry, have struggled to keep apace with demand as supply chain problems persist.

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