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Scopely raises $340 million at a $3.3 billion valuation as gaming grabs investors’ interest

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In a move to shore up institutional support in what’s likely to be it’s last fundraising as a private company, the Los Angeles-based mobile gaming behemoth Scopely has raised $340 million in its latest eye-popping round of funding.

Acting as if there’s not still a global pandemic raging throughout the world, some of the largest institutional financing firms like Wellington Management, TSG Consumer Partners, CPP Investments, and funds managed by BlackRock poured more money into the gaming giant just one year after the company raised $200 million in another late-stage funding round.

“What we are seeing is that there’s a significant appetite from public market investors to interactive entertainment as a category,” said Scopely co-chief executive Walter Driver. “We were excited to crossover and invest in Scopely.”

These late-stage, traditionally pre-IPO investors joined NewView Capital, Battery Ventures, Greycroft, Revolution Growth and Highland Capital Partners in the funding, which values the company at $3.3 billion, according to a person familiar with the financing.

The massive windfall won’t mean anything for Scopely’s strategy as the already wildly profitable business continues to grow both organically and through its acquisition strategy of major mobile gaming studios, according to co-chief executive, Walter Driver.

Unlike the other big companies that have taken billions of dollars in the gaming market — chiefly Epic Games and Unity — Scopely isn’t making tools for gaming. The focus at the Los Angeles-based company is squarely on the games themselves and the players who spend billions of dollars on them.

Scopely is focused on building the end-to-end publishing capabilities and development capabilities that will result in the longest term relationships with players for years to come,” Driver said. “This space is evolving really quickly and we have grown exponentially. If we want to be the leading company in the space, we have to be capitalized like the leading the company in the space.”

In terms of capitalization, no other mobile gaming studio comes close. The company’s closest competitor, both in proximity and in strategy would probably be the other LA-based mobile gaming company, Jam City, which is reportedly valued at $1.1 billion.

Scopely doesn’t shy away from developing aspects of the platform technologies that have powered Epic and Unity to their own multi-billion valuations, but it isn’t selling those tools to other companies, Driver said.

“Our belief is that over the longterm the most valuable companies in this space are going to be fully vertically integrated and own proprietary technology platforms,” he said.  

For Scopely, technology development is all about user retention, and developing the publishing capabilities and development capabilities that will help the company and its games stay relevant to an increasingly expanding and increasingly savvy audience of gamers.

And the company has an eye on the future. It’s looking at moving more of its games between platforms desktop, mobile, and consoles as games evolve to be played across those different systems. While that doesn’t mean developing for augmented reality or virtual reality hardware yet, Driver doesn’t rule it out.

“We do think there’s going to be continued innovation of new genres and consumer experience and more convergence and cross-pollination between platforms. Scopely is going to be focused on a player-centric approach rather than a device-centric one,” said Driver. 

For Driver and his co-founder, Javier Ferreira, Scopely’s growth — and that of the total gaming industry — represents an evolution in the ways that consumers want to be entertained.

Scopely’s players are spending 80 minutes per-day on games like “Star Trek Fleet Command”, “MARVEL Strike Force”, Scrabble GO” and “YAHTZEE With Buddies” and that time spent is actually spent socially.

“People have found — and investors looking at the space have found also that people value the connection they’re getting from interactive experiences. It’s not just our relationship with the players, but their relationships with each other,” Driver said. “Inside of most passively consumed media experiences, you don’t have an identity. You don’t have friends.

Or, to put in more nakedly capitalist terms, “We believe mobile gaming’s rapid growth makes it one of the most attractive categories in entertainment from an investment standpoint,” as Dan Sundheim the co-founder of late-stage Scopely backer D1 Capital, said in a statement. “We are confident that Scopely’s vision for the future coupled with its strategic approach to creating a vertically integrated game-making ecosystem, differentiated technology platform, and deep relationships with players will continue to cement its status as an industry leader.”

 

Lyron Foster is a Hawaii based African American Musician, Author, Actor, Blogger, Filmmaker, Philanthropist and Multinational Serial Tech Entrepreneur.

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Rock-star programmer: Rivers Cuomo finds meaning in coding

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“Hi, I’m Rivers from the band, Weezer,” Rivers Cuomo says with a slight smile and a wave. He turns away from the camera for a bit, before launching into his best infomercial pitch. “Imagine you’re on tour, and you’re sitting in your dressing room or your tour bus. You’re backstage. You have stage fright, you’re stressing out. You’re pacing back and forth. And then on top of that, your tour manager is constantly calling you, asking you logistical questions.”

As far as internet pitch videos go, it’s not the most universal. If anything, the three-minute clip loses any hope of populist appeal by the end. In a final shot, the singer in a maroon SpaceX hoodie is the last up the ramp onto a private jet. The plane door closes revealing a Weezer flying “W” logo.

“Download Drivetimes now, on GitHub,” Cuomo adds in voice-over. “This is CS50X.”

It’s not the most polished app pitch video, and Cuomo’s elevator pitch could probably do with a bit of refining before approaching venture capitalists about a seed round. As far as final projects for online programming courses go, however, it’s something to behold. The images alternate between pages of code, Google spreadsheets and POV shots as he takes the stage for a co-headlining tour with the Pixies.

It helped earn Cuomo a 95 in the class.

But while, in its current configuration, the Drivetime tour scheduling tool might have limited appeal, the musician’s final project from Harvard’s follow-up course, CS50W, is immediately apparent for an army of fans who have followed his quarter-century-plus career. This week Cuomo dropped more than 2,400 demos totaling more than 86 hours. Spanning 1976 to 2015, the songs range in quality from tape-recorded sketches to more polished fare. Some would eventually find their way onto Weezer’s 13 albums, or assorted side projects. Others wouldn’t be so lucky.

Available through Cuomo’s “Mr. Rivers’ Neighborhood” site, the tracks are gathered into nine bundles, each available for $9 a piece. “By the way,” Cuomo writers at the bottom of a disclaimer, “this market is my final project for a course I’m taking in web programming.”

For half-a-decade, the platinum-selling rock star has been moonlighting as a computer programming student.

“I was always a spreadsheet guy,” Cuomo tells TechCrunch. “Around 2000, I think I started in Microsoft Access and then Excel. Just keeping track of all my songs and demos and ideas. Spreadsheets got more and more complicated to the point where it was like, ‘Well, I’m kind of almost writing code here in these formulas, except it’s super hard to use. So maybe I should actually do programming instead.’ ”

It would be an odd side hustle for practically any other successful musician. For Cuomo, however, it’s the next logical step. In the wake of the massive success of Weezer’s self-titled debut, he enrolled as a sophomore at Harvard, spending a year living in a dorm. He would ultimately leave school to record the band’s much-loved follow-up, Pinkerton, but two more more enrollments in 1997 and 2004 found the musician ultimately graduating with an English BA in 2006.

CS50 found Cuomo returning to Harvard — at least in spirit. The course is hosted online by the university, a free introduction to computer science.

“I went through some online courses and was looking for something that looked appealing and so I saw the Harvard CS50 was very popular,” Cuomo says. “So I was like, ‘Well, I’ll give this a shot.’ It didn’t take immediately. The first week course was using Scratch. I don’t know if you know that, but it’s like kind of click and drag type of programming, and you’re making a little video game.”

A six-week course stretched out for six months for the musician. That same year, the musician — now a father of two — played dozens of shows and recorded Weezer’s 10th album, the Grammy-nominated White Album.

“When we hit Python halfway through the course,” Cuomo says, “I was just amazed at how powerful it was and intuitive it was for me, and I could just get so much done. Then by the end of the course, I was writing programs that were really helping me manage my day-to-day life as a traveling musician and then also managing my spreadsheets and managing my work as a creative artist.”

For Cuomo, productivity has never been much of an issue. The band has two albums completed beyond this year’s Black Album, and he’s already begun work on two more follow-ups. What has seemingly been a bigger issue, however, is organizing those thoughts. That’s where the spreadsheets and database come in.

The “thousands” of spreadsheets became a database, cataloging Cuomo’s own demos and work he was studying from other artists.

“For years it seemed like kind of a waste of time or an indulgence,” he says. “I should be writing a new song or, or recording a song rather than just cataloging these old ideas, but I’ve found that, years later, I’m able to very efficiently make use of these ancient ideas because I can just tell my Python program, ‘Hey, show me all the ideas I have at 126 BPM in the key of A flat that start with a third degree of the scale and the melody and are in Dorian mode and that my manager has given three stars or more to.’ ”

He admits that the process may be lacking in some of the rock and roll romanticism for which fans of the bands might hope. But in spite of drawing on pages of analytics, Cuomo insists there’s still magic present.

For Cuomo, productivity has never been much of an issue. Given his level of productivity, however, organizing all of those thoughts can get tricky. That’s where the spreadsheets and database come in.

“There’s still plenty of room for spontaneity and inspiration in what we traditionally think of as human creativity,” Cuomo explains. “One of my heroes in this realm is Igor Stravinsky. There’s a collection of his lectures called “The Poetics of Music.” And he had a note in that collection. He said he has no interest in a composer that’s only using one of his faculties, like a composer that says, ‘I am only going to write what pops into my head spontaneously when I’m in some kind of a creative zone. I won’t use any of my other tools.’

“He says, ‘No, I prefer to listen to the music of a composer who’s using every faculty at his disposal, his intuition, but also his intellect and his ability to analyze and categorize and make use of everything he has.’ I find that those ended up being the most wild and unpredictable and creative compositions.”

And there’s been no shortage of compositions. Cuomo says the band has two albums completed beyond this year’s Black Album, and he’s already begun work on two more follow-ups. After decades of feeling beholden to the 18-month major label album release cycle, the singer says that after the Demos project, he has a newfound interest in finding more ways to release music directly to fans.

“I don’t feel like I’m really good at understanding the big-picture marketplace and how to make the biggest impact in the world,” he says. “My manager is so good at that, but I just told them like, ‘Hey, this feels like something here. First of all, it’s really fun. The fans are really happy. It’s super easy for everyone involved.’ The coding part wasn’t easy, but for everyone else, it’s a couple of clicks and you’ve got all this music, and it’s a cheap price, and there’s no middleman. PayPal takes a little bit, but it’s nothing like a major label. So, this could be something. And there’s just something, it feels so good when it’s directly from me to the audience.”

For now, computer science continues to take up a major chunk of his time. Cuomo estimates that he’s been spending around 70% of his work hours on programming projects. On Wednesday nights, he helps out with programming for a meditation site (another decades-long passion), and he plans to take Harvard’s follow-up CS50M course, which centers around developing for mobile apps.

There are, however, no immediate plans to quit his day job.

“I can’t see me getting a job at a startup or something or maintaining somebody’s website,” he says. “But maybe the line between rock star and web developer is getting blurred so that musicians will be making more and more use of technological tools. Besides just the music software, we’ll be making more and more use of means of distribution and organization and creativity that’s coming out in the way we code our connection to the audience.”

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Daily Crunch: Amazon Web Services stumble

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An Amazon Web Services outage has a wide effect, Salesforce might be buying Slack and Pinterest tests new support for virtual events. This is your Daily Crunch for November 25, 2020.

And for those of you who celebrate Thanksgiving: Enjoy! There will be no newsletter tomorrow, and then Darrell Etherington will be filling in for me on Friday.

The big story: Amazon Web Services stumble

Amazon Web Services began experiencing issues earlier today, which caused issues for sites and services that rely on its cloud infrastructure — as writer Zack Whittaker discovered when he tried to use his Roomba.

Amazon said the issue was largely localized to North America, and that it was working on a resolution. Meanwhile, a number of other companies, such as Adobe and Roku, have pointed to the AWS outage as the reason for their own service issues.

The tech giants

Slack’s stock climbs on possible Salesforce acquisition — News that Salesforce is interested in buying Slack sent shares of the smaller firm sharply higher today.

Pinterest tests online events with dedicated ‘class communities’ — The company has been spotted testing a new feature that allows users to sign up for Zoom classes through Pinterest.

France starts collecting tax on tech giants — This tax applies to companies that generate more than €750 million in revenue globally and €25 million in France, and that operate either a marketplace or an ad business.

Startups, funding and venture capital

Tiger Global invests in India’s Unacademy at $2B valuation — Unacademy helps students prepare for competitive exams to get into college.

WeGift, the ‘incentive marketing’ platform, collects $8M in new funding — Founded in 2016, WeGift wants to digitize the $700 billion rewards and incentives industry.

Cast.ai nabs $7.7M seed to remove barriers between public clouds — The company was started with the idea that developers should be able to get the best of each of the public clouds without being locked in.

Advice and analysis from Extra Crunch

Insurtech’s big year gets bigger as Metromile looks to go public — Metromile, a startup competing in the auto insurance market, is going public via SPAC.

Join us for a live Q&A with Sapphire’s Jai Das on Tuesday at 2 pm EST/11 am PST — Das has invested in companies like MuleSoft, Alteryx, Square and Sumo Logic.

(Extra Crunch is our membership program, which aims to democratize information about startups. You can sign up here.)

Everything else

Gift Guide: Smart exercise gear to hunker down and get fit with — Smart exercise and health gear is smarter than ever.

Instead of yule log, watch this interactive dumpster fire because 2020 — Sure, why not.

The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 3pm Pacific, you can subscribe here.

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Gift Guide: 5 solid tech gifts to help decrease stress and increase sleep

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Welcome to Techcrunch’s 2020 Holiday Gift Guide! Need help with gift ideas? We’re here to help! We’ll be rolling out gift guides from now through the end of December. You can find our other guides right here.

Even in a normal year, the holidays can be an anxiety-inducing hellscape. In 2020, though — honestly, it’s hard to say what manner of climactic finale this historically rough year might have on tap. In honor of the one of the most epically rotten years on record, we’ve cobbled together a list of gifts that could go a ways toward helping folks make it triumphantly across the finish line.

It’s a bit of a mixed bag, I admit. Everyone blows off stress differently — some like to play video games, come cook, some go for a run, others meditate. This is an attempt to round up some gadgets and software that can help increase sleep, reduce blood pressure and generally help survive what’s left of 2020 intact.

This article contains links to affiliate partners where available. When you buy through these links, TechCrunch may earn an affiliate commission.

Muse S

I was using Muse’s latest headband quite a bit during CES, back when that show still felt like it was going to be the apex of stress for my year. The device offers a clever kind of gamified approach to meditation — something I, as one of the worst meditators of all-time, have come to appreciate. I recognize that words like “gamify” sound counterproductive when it comes something like meditating, but Muse does a surprisingly good job getting you into the right headspace.

The company also recently added sleep tracking to the wearable. I will say that the Muse S is reasonably comfortable as far as tech headbands go (an admittedly low bar), but even so, sleeping with one on still takes some getting used to.

Price: $350 from Amazon

Bose Sleepbuds II

Image Credits: Bose

We can recommend a number of all-purpose, noise-cancelling headphones for help relaxing. The Bose Sleepbuds II aren’t that. These little Bluetooth buds are built for one purpose only: sleep. They’re comfortable, they get good battery life and they’ll stay in place while you sleep. They’re built for noisy environments — whether you’re trying to sneak in a midday nap or sleep next to a snorer.

They’re a bit pricy and not very versatile, only designed to play back Bose’s preloaded sleep sounds. But if someone in your life is having trouble falling — or staying — asleep, they’re a solid investment.

Price: $250 from Amazon

Calm Subscription

Image Credits: Calm

There’s no shortage of meditation apps these days, but Calm has been my go-to for a long time. The app has been tremendously successful over the past couple of years, even landing a star-studded show on HBO Max. With more than 50 million downloads, Calm offers some of the most extensive and best guided meditation courses and tracks to help lull listeners to sleep.

Price: $13/month from Calm

Withings Sleep

Image Credits: Withings

I really dug this thing before my rabbit chewed the cord and rendered the thing effectively useless. I’m going to go out on a limb and assume that’s not an issue most users are going to run into. Withings Sleep is, effectively, a pad that sits under the mattress to detect your sleep progress during the night. Those results are then collected and displayed in Withings’ Health app. I’ve tested a lot of wearable sleep trackers over the year, but if you’re really invested in sleep tracking, this is a good way to go. Among other things, you don’t have to wear a band to sleep.

Withings Sleep goes deep with its tracking, including cycles heart rate tracking and even snore detection. It’s also one of the first of this class of consumer device to offer sleep apnea detection.

Price: $74 from Amazon

Dreamlight Zen

Image Credits: Dreamlight

Back when we used to do travel gift guides, I included one of Dreamlight’s masks for long flights. Even though we’re all grounded, though, I’ve actually got a fair amount of use out of the thing, dealing with some health struggles this year. Dreamlight Zen is a step up from that model, featuring built-in sleep and meditation aids that can run up to 10 hours on a charge.

Price: $200 from Dreamlight

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