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Resellee wants to become the Pinduoduo of Southeast Asia

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Launched in the Philippines, social commerce startup Resellee wants to recreate the success of Pinduoduo, one of China’s fastest-growing e-commerce companies, in Southeast Asia. A major part of Resellee’s business is grocery deliveries, including fresh produce, and it has struck partnerships with the government and farmers’ groups to meet demand during the COVID-19 pandemic.

The startup announced this week it has raised $1 million in seed funding from Mintech Enterprises and Hofan Capital to build its technology and expand into new countries. Resellee was co-founded last year by chief executive officer Marc Concio, former head of e-commerce at Voyager Innovations, parent company of PayMaya, one of the Philippines’ largest online payment services.

Concio told TechCrunch that there are currently about 40,000 resellers on Resellee’s platform, and each has an average of about 20 buyers. Resellee sellers typically make about P5,000, or US $100, a month.

Like Pinduoduo, India’s Meesho and other social commerce platforms, Reselllee does not require sellers to carry their own inventory. Instead, it maintains a network of suppliers, including manufacturers and farmers, and lists available products on a marketplace. Then sellers chose what they want to add to their stores, which they market to potential buyers through their social media networks.

Resellee offers a wide range of products, including electronics and fashion items, but it currently focuses on grocery deliveries and prepaid credit for mobile phones and online games, which are all in high demand because of the COVID-19 pandemic.

Concio’s interest in social commerce was piqued after observing Pinduoduo’s astronomical growth in China, where it became the second-largest e-commerce company in the country less than five years after launching in 2015. Pinduoduo’s group buying model leverages users’ existing social networks, especially on WeChat, to pull together buyers for products at discounted prices, and has done well in smaller cities and rural areas.

“Resellee hopes to learn from this and be the Pinduoduo of Southeast Asia by pioneering social e-commerce and group buying in the Philippines, then expanding to Vietnam, Myanmar, Thailand and Cambodia, where social commerce has not started yet or is still in its early stage,” Concio said.

Social commerce is well-positioned to take off in the Philippines for several reasons, he added. One is the enormous amount of time spent of social media platforms there: four hours per day, versus two and a half hours in India, and two hours in China. The Philippines has one of the youngest median ages in Asia, around 23.5 years old, and that is the demographic most likely to use social commerce, Concio said.

Another reason is that many people want to start their own businesses, or need to make side income, especially during the pandemic, but have little access to working capital. Since Resellee’s sellers don’t need to carry their own inventory and can rely on the platform’s supply chain and logistics network, that means they can launch a store without spending any money. Most of the work they need to do is convincing people on their social media networks, like Facebook or Viber, to buy from their Resellee stores.

“We believe the same hypergrowth for social commerce will happen in the Philippines given all of the above, with Resellee pioneering both social e-commerce and group buying here,” Concio said.

Resellee’s competitors include some of the biggest e-commerce platforms in the region, like Lazada, Shopee and EZBuy, which have added social commerce features. Concio said one of Resellee’s advantages is its focus on helping sellers make money, and partnerships with farmers groups and the Philippine government. This includes a project to build an online platform that will aggregate supply information from farmer’s cooperatives across the country, and match them to Resellee’s sellers and buyers, eliminating middle men in the supply chain.

Resellee initially outsourced its logistics, but Concio said its deliveries were not prioritized by carriers, which led to customer complaints, especially for fresh produce. As a result, Resellee set up its own logistics arm, called Resellee Riders, in Metro Manila, where most of its grocery customers are. This enabled Resellee to launch next-day deliveries in the area this week (orders in other places are still carried out by third-party logistics providers).

While Resellee accepts online payments, including online wallets and bank cards, most buyers prefer to use its cash on delivery option. Sellers make money through commissions, which they can transfer to their online wallets or bank accounts. Resellee’s platform also gives them the option of using the funds to buy discounted mobile or gaming prepaid loads, or top-ups, which they can also offer in their stores. Along with fresh produce, prepaid loads are one of the key parts of Resellee’s business strategy. The platform guarantees the highest commissions and discounts for mobile prepaid loads from some of the Philippines’ top providers, including Smart, Sun and TalknText.

“The mobile prepaid market is a US $4 billion annual market versus total e-commerce in the Philippines of only US $2.3 billion,” Concio said. “This is one of our key strategies to own the mobile prepaid market, other than fruits and vegetables like Pinduoduo.”

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Teardown of “Dishy McFlatface,” the SpaceX Starlink user terminal

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The outer part of

Enlarge / Ken Keiter gets ready to tear apart the SpaceX Starlink user terminal, “Dishy McFlatface.” (credit: Ken Keiter)

Engineer Ken Keiter recently came into possession of one SpaceX Starlink user terminal, the satellite dish that SpaceX nicknamed “Dishy McFlatface.” But instead of plugging it in and getting Internet access from SpaceX’s low Earth orbit (LEO) satellites, Keiter decided to take Dishy apart to see what’s inside.

The teardown process destroyed portions of the device. “I would love to actually test out the [Starlink] service and clearly I didn’t get a chance to, as this went a little bit further than I was intending,” Keiter said toward the end of the 55-minute teardown video he posted on YouTube last week.

Keiter, who lives in Portland, Oregon, was impressed by the Starlink team’s work. “It’s rare to see something of this complexity in a consumer product,” he said in reference to the device’s printed circuit board (PCB), which he measured at 19.75″ by 21.5″.

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Salesforce applies AI to workflow with Einstein Automate

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While Salesforce made a big splash yesterday with the announcement that it’s buying Slack for $27.7 billion, it’s not the only thing going on for the CRM giant this week. In fact Dreamforce, the company’s customer extravaganza is also on the docket. While it is virtual this year, there are still product announcements aplenty and today the company announced Einstein Automate, a new AI-fueled set of workflow solutions.

Sarah Franklin, EVP & GM of Platform, Trailhead and AppExchange at Salesforce says that she is seeing companies facing a digital imperative to automate processes as things move ever more quickly online, being driven there even faster by the pandemic. “With Einstein Automate, everyone can change the speed of work and be more productive through intelligent workflow automation,” she said in a statement.

Brent Leary, principal analyst at CRM Essentials says that combined these tools are designed to help customers get to work more quickly. “It’s not only about identifying the insight, it’s about making it easier to leverage it at the the right time. And this should make it easier for users to do it without spending more time and effort,” Leary told TechCrunch.

Einstein is the commercial name given to Salesforce’s artificial intelligence platform that touches every aspect of the company’s product line, bringing automation to many tasks and making it easier to find the most valuable information on customers, which is often buried in an avalanche of data.

Einstein Automate encompasses several products designed to improve workflows inside organizations. For starters, the company has created Flow Orchestrator, a tool that uses a low-code, drag and drop approach for building workflows, but it doesn’t stop there. It also relies on AI to provide help suggest logical next steps to speed up workflow creation.

Salesforce is also bringing Mulesoft, the integration company it bought for $6.5 billion in 2018 into the mix. Instead of processes like a mortgage approval workflow, the Mulesoft piece lets IT build complex integrations between applications across the enterprise, and the Salesforce family of products more easily.

To make it easier to build these workflows, Salesforce is announcing the Einstein Automate collection page available in AppExchange, the company’s application marketplace. The collection includes over 700 pre-built connectors so customers can grab and go as they build these workflows, and finally it’s updating the OmniStudio, their platform for generating customer experiences. As Salesforce describes it, “Included in OmniStudio is a suite of resources and no-code tools, including pre-built guided experiences, templates and more, allowing users to deploy digital-first experiences like licensing and permit applications quickly and with ease. ”

Per usual with Salesforce Dreamforce announcements, the Flow Orchestrator being announced today won’t be available in beta until next summer. The Mulesoft component will be available in early 2021, but the OmniStudio updates and the Einstein connections collection are available today.

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Virta Health’s behavioral diabetes treatment service is now worth over $1 billion

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A new $65 million investment led by the growth capital and public investment arm of Sequoia Capital will give Virta Health, a developer of a behavioral-focused diabetes treatment, a valuation of over $1 billion.

Virta’s approach, which uses a combination of approaches to change diet and exercise to reverse the presence of type 2 diabetes and other chronic metabolic conditions, has shown clinical success and attracted 100 health care payers to endorse the company’s treatments.

“We partnered with Virta for their ability to deliver unmatched health improvement and cost savings—two clear differentiators from other offerings on the market,” said William Ashmore, CEO of the State Employees’ Insurance Board of Alabama, in a statement. “Especially amid the COVID-19 pandemic, it’s vital that we provide our members the life-changing results Virta is known for delivering, through expert, virtual care delivered right to their home.”

The company said it would use the funding to expand sales and marketing efforts for its services as well as expand its research and development into other non-pharmaceutical therapies for metabolic conditions.

The financing came from Sequoia Capital Global Equities and Caffeinated Capital and brings the company’s total funding to over $230 million and gives it a $1.1 billion valuation, according to a statement.

Alongside Sequoia Capital Global Equities, Caffeinated Capital participated in the round, which brings total funding to more than $230 million and values Virta Health at over $1.1 billion.

Diabetes has long been an attractive condition for startups and has been the first target that companies focused on behavior changes to influence metabolic conditions aim to address. The reason why there are so many diabetes-focused businesses is because of the prevalence of the disease in the U.S. Almost half of adults in the U.S. suffer from obesity, pre-diabetes, or type 2 diabetes and the disease kills thirty people every hour. Diabetes also doubles the risk of death from COVID-19 infections.

Beyond the risks, the costs of treatment are skyrocketing. According to data from the American Diabetes Association released in March 2018, the total costs of treating diagnosed diabetes have risen to $327 billion in 2017 from $245 billion in 2012, when the cost was last examined.

“Given the scope of the metabolic crisis in the U.S. and globally, it cannot be understated how game-changing Virta’s results and care delivery are,” said Patrick Fu, managing partner at Sequoia Capital Global Equities, in a statement. “Virta’s technology-driven, non-pharmaceutical approach has fundamentally changed how diabetes is cared for, and our collective belief in what is possible for population health improvement. This is the future of chronic disease care.”

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