Category Archives: startups

Analysis: Yahoo’s Q2 Results and Mayer’s First Year as CEO

Yahoo’s Q2 earnings call is something of a judgement on Marissa Mayer’s first 12 months in the job – as she took over as CEO almost exactly a year ago – but the mixed picture shows that much of the hard work is still to be done. 

GAAP revenue stood at $1.14bn (£750m), a seven per cent decrease on a year ago, but on a brighter note, profits increased by 46 per cent to $331m, largely as a result of Yahoo’s investment in Chinese eCommerce site, Alibaba. If you take revenues minus traffic acquisition costs (the money internet companies pay out to affiliates and other third parties who drive traffic to their sites), revenues are down just 1 per cent from $1.08bn to $1.07bn, and remain flat from the previous quarter. Yahoo’s display revenue was $472m, a 12 per cent decrease compared to a year ago, and search was down nine per cent to $418m. 


Reacting to the results, Karsten Weide, IDC’s program VP of digital media and entertainment, told Mobile Marketing: “Yahoo’s stock price has gone up by 70 per cent since Marissa Mayer took over, and that has made a lot of people happy. However, most of that growth was due the perceived value of Yahoo’s stake in Alibaba. Alibaba will soon go public, and people think it is going to send a lot of money Yahoo’s way, and theirs. 


“In terms of Yahoo’s core business, not much has happened that would justify this increase in stock price. Display advertising has been weak lately. For one, that’s because a lot of display advertising now goes mobile, and Yahoo is weak on the mobile platform. For another, a lot of advertising agencies now want to buy advertising automatically and in this new, so-called ‘programmatic trading’ segment, Yahoo is weak, while Google and Facebook are strong.” 


Acquisitions 


Yahoo spent a net $1bn in cash for acquisitions during the period, $970m of this on Tumblr. Mayer counts eight buyouts, including Astrid, GoPollGo, MileWise, Loki Studios, Tumblr, Playerscale, Ghostbird and Rondee, plus Summly, although this closed late in Q1 and was announced in the previous earnings call. Eight of these had some mobile element to them, everything from the Summly news aggregator to Astrid’s popular productivity apps and location-aware gaming from Loki Studios. 


“Generally, companies of their size are buying mobile start-ups – they need the talent, especially user interface and user experience, along with audience and ideas,” said Julie Ask, VP and principal analyst at Forrester. “Consumers’ time is increasingly spent on mobile devices – whether a phone or a tablet or other. Yahoo and others who depend on ad revenue need large, engaged audiences there – not only for growth, but also to maintain a revenue base.”  


While six of these ‘acqui-hire’ companies have closed and been rolled into Yahoo’s mobile teams out of NYC and California, including putting Summly centre stage in the new Yahoo app, Tumblr and cross-platform back-end gaming service Playerscale have remained intact, with Astrid, which had 4m users in September last year, to remain in operation for 90 days from 1 May. 


Yahoo believes that the combination of Tumblr and Yahoo will grow its audience to more than 1bn monthly visitors from 300m in Q1.  Although a great deal has been made of Yahoo’s aggressive acquisition strategy, totalling 12 for the first half of this year, Google has actually made almost 150 acquisitions in its 12-year history, compared to Yahoo’s 83 in 16 years. 


Marcos Sanchez, VP Global Corporate Communications at App Annie, is positive about the work being done to change Yahoo’s fortunes. “From all accounts, Mayer has been doing a great job of breathing life back in to Yahoo, from re-focusing, to improving company morale to revamping products with a definite mobile bent,” he said. 


“The mobile products have been streamlined and she’s put a focus on usability, which is likely to be a contributing factor to the apps at least not losing ground. From an acquisition standpoint, don’t forget, there are many reasons for an acquisition, and not just for a technology. Mayer has proven savvy even here, shuttering some, keeping a few alive, but maintaining teams that are focused on bringing yahoo back to its’ glory days.”


Written for Mobile Marketing Magazine and published here: http://www.mobilemarketingmagazine.com/content/analysis-yahoos-q2-earnings-and-meyers-first-year-ceo#pGVPFJh7WI2b55Gf.99

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“Banks are terrified that Amazon will be a formal bank”

“Banks are terrified that Amazon will be a formal bank,” Deborah Perry Piscione – Silicon Valley entrepreneur and author of Silicon Valley Whispers – told her audience at an event at the London School of Economics. “Amazon knows how its sellers are doing at any given moment at any given day.” She said that applying for a loan with them, therefore, could happen in just six questions. 

Piscione spent the early years of her career working in national politics and the media in the US, reaching both Capitol Hill and the Whitehouse. On moving to Silicon Valley, at a time when Google was just starting to take shape and Zuckerberg was merely a topic of conversation, she found a culture quite different to the corporate world she was used to. “In Washington, we were indoctrinated into this cult that you withhold information and don’t share it,” she told an audience of students and entrepreneurs at LSE. 


“Silicon Valley was a land completely of the unknown. It took me a long time to realise what made this place so unbelievably unique. It is incredibly open and you have to get used to information sharing – often sharing with direct competitors because they can help validate your platform or product.” 


In her book, Piscione discusses what makes the culture of Silicon Valley so different. She said it’s the kind of place that can take a 23-year-old Mark Zuckerberg seriously because, unlike the hierarchies of Washington or London, people there don’t care about your age, gender or the colour of your skin. “The perception is that you’re smart and what you’re building is growing really quickly.” 


Unlimited vacation and intropreneurialsm 


She highlighted Google’s Campus, where you can get a haircut, see a doctor and even get your car’s oil changed, as an example to other businesses around the world. “So you’re not thinking about all those other tasks that bog you down on a daily basis. Netflix gives its employees unlimited vacation time. How do you motivate people based on valuing them?” 


There is also a culture of intropreneurialism, exemplified with the story of Youtube, where its founders were working at PayPal during the day and then on the platform, which started out life as a dating site, at night. And, unlike in Europe, people are allowed to fail. In fact, it might mean they are taken more seriously. She added that there is nothing more important than what is going on in HR. Focusing on people makes a “greater difference between success and failure overall.” 


Comparing Silicon Valley to London, and not without highlighting the better weather and outdoors lifestyle, she said: “Traffic in London has just gotten worse and worse.” She suggests scattering work hours around rush hour to ensure staff are less stressed and so more creative. 


The Valley’s close links with Stanford, which was founded in the 19th century with a commitment to ensure that students, faculty and professors had a connection with the local community, as well the university’s great support for the next generation, have set it apart. The heritage of VCs, the opportunity to build relationship and the supporting infrastructure, likewise. “VCs do everything possible to make that entrepreneur a success.” But its bubble-based economy, Piscione said, tends towards get rich quick rather than value creation which means: “VCs have huge pressure on them to get a quick ROI.” She said she believes platforms like Kickstarter are changing the funding game but highlighted that Silicon Valley has the support system, the networks and the people to make it more likely that a business can succeed. 


Failing national education 


But, while the Ivy League prospers, she said that primary and secondary education, as in the UK, is not doing a great job of preparing its young people for the jobs of the 21st century. California is 48th out of 50 states in terms of spending per pupil. “I’m not sure Silicon Valley has the answer on that front.” 


An audience member highlighted the latest draft of the national curriculum, which will now prioritise advanced IT from an early age. “Computing is not even the future, it’s the here and now. There has been a massive shift in the economy but the education is not giving kids, particularly girls, exposure to STEM subjects. It takes effort and really thinking outside of the box in not continuing to do things you’ve done over the last 50 years, but asking what are you going to do over the next 50 years.” 


She highlighted that PayPal founder Peter Thiel has now started his own fellowship programme, which encourages young people to opt-out of college. On the issue of working visas, she added:  “We certainly have to stop educating people at MIT, Harvard and Stanford and then sending them back home.” 


IP issues 


Asked about growing concerns around intellectual property, Piscione highlighted that Cisco spent $59m (£39.7m) last year defending their patents from “patent trolls” and suggested the need for a new international governing body on this. While many complain that the stealing only goes one way, she also pointed out that eBay “kind of copied a company out of China. Who takes it on, I don’t know – that’s got to be the conversation and the dialogue.” 


Will Apple really have the next new new thing? 


Asked about the future of some of Silicon Valley’s most prominent companies, she said: “There’s lots of conversation in Silicon Valley around will Apple have that next generation – what that new new thing is?” On the current ubiquity of services like Facebook and Google, she said: “You can’t imagine it being in your life – I just got a smartphone not long ago – you continue to resist and then can’t imagine life without it. But there will definitely be something else after Facebook and twitter – and soon.” 

Piscione questioned how much tech we really need, and whether younger generations will suffer from burnout, although she did highlight support from some in Silicon Valley towards biotech. She also warned against focusing on whether it’s web 2.0 or mobile: “because they’re all in there, we now need to look to continue to diversify our economy.”

Written for Mobile Marketing Magazine and published here:
http://www.mobilemarketingmagazine.com/content/%E2%80%9Cbanks-are-terrified-amazon-will-be-formal-bank%E2%80%9D#Q1zC3BL6d06YlRTA.99

Job Centre: With all eyes on Tech City, where are the mobile job opportunities and do we have the skills to fill them?

According to the Connected Digital Economy Catapult, established by the Government’s Technology Strategy Board, the IT, software and digital content sectors are worth £100bn to the UK economy. This is larger per head than any other country in the world and could represent 10 per cent of UK GDP by 2015. 

Speaking at the World Economic Forum in January, EU commissioner for technology, Neelie Kroes, said that Europe would have 1m new tech jobs by 2016 and 2m by 2020, with up to a fifth of these in the UK. Worryingly though, IBM’s 2012 Tech Trends report found that just 1 in 10 UK organisations believes it has the skills to use advanced technologies, including mobile computing, cloud computing, and social business. Meanwhile, 73 per cent of educators and students said there is a major or moderate gap in their institution’s ability to meet demand for these skills.  

PM David Cameron has announced a £50m regeneration of East London’s Old Street tech hub, Silicon Roundabout, which is due for completion in 2016. While this will certainly create an impressive landmark to showcase digital leadership, little commitment has been made to creating a suitably skilled British workforce. And in any event, it may already be too late.  

With some of the biggest media companies in the world – the likes of Skype, Amazon, Google, Facebook, and BSkyB – all expanding their mobile operations in London, and each requiring large engineering teams of hundreds of people, the competition is already fierce for mobile talent. Is the UK up to the job? 

“Our candidates think mobile is a really interesting opportunity, particularly around M2M and the chance to use mobile technology to make people’s lives better, whether that’s through medical and health or utility,” said Mark Long, director of future media recruitment company ABRS. “They are in a really good position – everyone from software engineers, UX designers, product managers – across the mobile platform, there are more jobs than candidates. If you’ve got the skills, there are loads of opportunities – if you’re a company trying to build this stuff, there is lots of competition.” 

Like the FT, Walmart and Deloitte, Thomson Reuters bought a London-based mobile dev firm, Apsmart, to shore up its mobile capacity. Bob Schukai, head of mobile at Thomson Reuters, says: “It’s not uncommon to just buy a mobile development company to take them completely off the market. You might never do anything with the product, you might just be doing it as a talent acquisition.  “It used to be about offshore versus inshore – that discussion has changed completely. It’s now about outsource versus insource. You can see a decline in numbers in the PC space and with that comes an insatiable demand for mobile talent. That’s a capability that companies need to create themselves and be able to instil across their organisation.”

 So, does the talent have to be bought or can you help grow it? Raj Day, group CSO for Telefónica in Latin America, was out running while considering his difficulty in finding innovative products, services and different ways of working. There was only one shop for digital innovation – Silicon Valley – and it was not only expensive to hire from but was also eating up some of his own digital talent. He passed an empty shop and thought ‘what would happen if we filled that full of startups?’ 

Three years and 13 countries later, the startup initiative Wayra is now established across Latin America, the US and the EU. Ann Parker heads up EU operations for the accelerator programme, and she says there is an abundance of talent. “The perception I had was that we would struggle to find that kind of talent and people willing to go and work in a startup in London,” she says. “We have found quite the reverse. We get a lot of people who have finished their degree but have decided that the corporate ladder isn’t for them. We also get lots of people in their mid-30s. People who’ve got life experience, who’ve made a few mistakes. That really helps.” 

While Telefónica says it does not intend to take any of the teams that it gives funding to into the business itself, startups like cloud service provider Cloud66 have become preferred partners and in return gain access to more than 300m customers. “If we want digital startups to contribute to the economy, everyone needs to be putting their hands in their pocket,” says Parker. “There’s room for us all.” 

Eric Van der Kleij, fintech entrepreneur and head of Level39, Tech City’s newest accelerator, believes that the financial crisis has given entrepreneurs and big business the opportunity to explore and create new technology together. “London and Europe are facing another challenge in the contraction of the financial services sector, which has previously represented up to 12.9 per cent of GDP if you include IT services,” he says. “It’s the innovators in tech and digital and creative that are going to form part of this replacement economic growth.  “You can imagine an idea being created at a hackathon that one day goes on to become a substantial banking mechanism for new, open, transparent banking. Now that is being made possible by the talent and by an environment that supports innovation – with a combination of support from organisations and government.” 

While this all sounds rather cosy, startups and big businesses are clearly in competition for great graduates. Some see a ‘brain drain’ as people choose big bucks in the City over the uncertainty of startup life. But Bob Schukai thinks the issue is more fundamental. “Five guys can build a product and beat you to market in a heartbeat. Big business is going to need that technology talent to be successful and compete at an enterprise level as well as at a consumer level. The challenge in the UK, like the US, is that neither are producing enough STEM grads. That’s where the real problem is.”

American-born Schukai has gone on record many times arguing that foreign graduates in the US should ‘have a green card stapled to their university certificate’ and he thinks much the same is required in the UK. “Anybody that graduates with an advanced technology degree should be given indefinite leave to remain in Britain. These are people that are going to be producing, going to be working in high paying jobs, contributing revenue to Inland Revenue.” 

Wayra’s Ann Parker, however, disagreed with the perception that tech graduates are the only people who can create entrepreneurial success. “Good ideas come from everywhere,” she said, “you don’t need to be a computer scientist to have a great idea for a startup and even if you are a great coder – it doesn’t mean you will be a successful entrepreneur.” 

So if it’s skilled digital workers we lack, why do we have an abundance of idle ‘digital natives’, 1m young people who commentators fear becoming a ‘lost generation’ excluded from employment into adult life? While 16-24-year-olds are never too far from Blackberry Messenger or Facebook, many, it appears, may not understand the opportunities in emerging technologies; the opportunity to become creators, rather than simply consumers. If you were born in the 1990s, the digital natives rather than older digital immigrants, can you help but take technology for granted? 
“’My brother said ‘stop being a waster, have a Sinclair ZX81 [released in 1981]’, and for the first time I felt completely empowered,” says Van der Kleij. “Today, the mobile phone, and especially the smartphone, has made technology incredibly accessible. So many more people understand how apps can solve problems in life and come up with solutions that previously would have required huge amounts of programming expertise. This exposure could catalyse them into entering the computing profession and maybe getting a computer science degree or even entering IT services.” 

With this tech-native generation coming of age in terms of their careers, what does the Government need to do to nurture growth? “The first thing I would say to Government,” Ann Parker at Wayra says, “would be to get more computer programming on the syllabus. People should learn it from age six or seven – do it like speaking French. There also needs to be more work on encouraging more entrepreneurial skills to be taught at school – understanding the concept of cash flow, knowing how much money you have in the bank and not spending more than that.” 

A number of organisations already work for free to excite young people about creating the technologies of the future, including Devcamp and Apps for Good. Reuters’ Schukai is also a mentor for Apps for Good, where participant schools spend a school term building an app from start to finish, with the winning team going on to have their app made for real.  “We think that this can become a feeder for large and small companies across Britain or creating the entrepreneurs of tomorrow,” he says. “We have more than 200 schools and it has become the benchmark programme, but I would love to see more engagement between business and schools.” 

There are many online courses, at minimum cost, as well as free resources that offer a real learning opportunity at a fraction of the debt promised by university. But is it too late by then? Courtney Boyd Myers, audience development director at London’s General Assembly, a tech education and events business, says businesses must work together with educators to help the education system keep up with the pace of change in the tech, digital and mobile industries. “Business both established and startup need to have the resources and knowledge in place to be continually learning, growing and developing in this space,” she says. “Our opportunity and our challenge is to figure out how we can build businesses that help people connect, increase access to healthcare, education and jobs, and provide an infrastructure to create further new businesses.”

So where are these 2m promised jobs of tomorrow going to be? Bob Schukai believes “app exhaustion” may have set in. “But there are other areas that are underexploited, such as health, fitness, and especially education,” he says. “You will see a lot more testing and evaluating jobs that didn’t really exist previously. People in the beginning just sort of built stuff and threw it out the door. You’ve also got to have people who write the automation programs, because the amount and number of mobile products you need to create isn’t going down it’s going up. Those people are eventually going to become developers themselves.”

So far, £6m was pledged in the Autumn Statement to train 3,000 people in technology roles and after intense pressure from the industry, Michael Gove’s controversial EBacc qualification – the education secretary’s proposed GCSE replacement – will now contain computer science as a fourth science option. Business and universities will be consulted in the development of the syllabus, Gove has said. 

But is this all too little too late in the global tech race? “Some of the most exciting ideas come from innovators who have had no formal training. They are not restricted by the fetters of corporate and traditional education,” said Van der Kleij. “But any investment that we can make in education that is more appropriate to the skills that we need at the moment and that we’ll need in the future – any investment that we can make in that is a worthwhile thing to do.”

Written for Mobile Marketing Magazine and first published here:  http://www.mobilemarketingmagazine.com/content/job-centre#ZaiA8MTBVxewdhiq.99

London Event App YPlan Raises $12m to go Global

London’s spontaneous events app YPlan has announced that it will open its doors in New York after receiving $12m (£7.8m) in Series A funding. US VC firm General Catalyst Partners, investors in Kayak and Airbnb, led the round, along with YPlan’s initial backers Wellington Partners. 

The company has attracted an impressive range of co-investors, including Ashton Kutcher’s A-Grade, early Facebook employee Kevin Colleran and David Morin, founder of Path and serial angel investor. Shakil Khan, investor and advisor to Spotify and Summly, also joined the round. 

The start-up, which curates 15 last-minute listings per night, has offered tickets to more than 2,500 exclusive events, including a Beyoncé show and the invite-only Sofar Sounds, since it launched in November last year. It passed 200,000 downloads in April and is present on more than 10 per cent of London’s iPhones.  

We spoke to YPlan last year about how they find all the weird and wonderful stuff that London has to offer. Its executive team boasts some of the brains behind toptable, GetTaxi, Songkick, Airbnb and lastminute.com, with the former digital director of Timeout in charge of picking the best events. 

The YPlan team has already opened its New York office and is currently hiring for a growth hacker, a product manager and marketing staff to support the official launch in H2 2013. More European cities and an Android app are also on the way. 

The company received its seed funding of $1.7m in July 2012, a round led by pan-European Wellington Partners, investors in Hailo, and UK-focused Octopus Investments, which invested in SwiftKey. We’ll be speaking to YPlan to find out more about how they’re going to spend the next $12m.


Written for Mobile Marketing Magazine and published here: http://www.mobilemarketingmagazine.com/content/londons-mobile-only-event-app-yplan-raises-12m-go-global#pa0aGpFLhHTJARrW.99

/Crowdring Mobile Petition Platform Gets $15,000 on Kickstarter

A platform that turns your ‘missed call’ into a signature on a petition is now being piloted in Rio, Nairobi and Bangalore after reaching its $15,000 goal on Kickstarter.

Inspired by an Indian campaigner who encouraged people to log 35m missed calls against local corruption in just two weeks, /Crowdring has now been created as scalable platform by Purpose, /TheRules and ThoughtWorks, a digital campaigning coalition.

Users log in online or on mobile and create a petition linked to a local phone number. After logging their missed call, the person receives a free SMS in their local language that shares key facts about the campaign and how they can get more involved. It doesn’t require any credit and works on any handset.

After the campaign has been advertised and completed, the activist can then present their mobile signatures to politicians. The platform enables data aggregation, list cutting and a cost-effective way to purchase local numbers for each campaign. It is open source so can be integrated and updated by developers wishing to use it.

Free ‘missed calling’ is a particularly popular way to send messages in emerging markets where calling rates can be costly. /Crowdring will now be working for the next three months running three social justice campaigns in its chosen test countries, with training for 15 community organisers.

The pitch on Kickstarter says: “We believe that /Crowdring has the potential to become the easiest and cheapest way to bring the world together around social justice issues. 

/Crowdring facilitates two-way correspondence that is free for the user, and can be scaled across cities and continents.

Purpose, /The Rules and ThoughtWorks are a group of activists, technologists, campaigners and designers based in NYC, with partners in Brazil, India, and Kenya. They are working with campaigning organisations in its three host countries called Meu Rio, Jhatkaa and Infonet.

Written for Mobile Marketing Magazine and first published here: http://www.mobilemarketingmagazine.com/content/crowdring-gets-15000-kickstarter-mobile-petition-platform

AWARE Appoints Former News International Innovator

Ted Nash, a British entrepreneur who became the youngest person to get 1m downloads in the App Store back in 2008 when he was just 17, is leaving his role as head of digital product at News International to join lean start-up AWARE.

Joining the mobile agency as Director of Innovation, Nash will work alongside the company’s founders, Elina Hedman and Andy Bennett, on business development and strategy, as well as looking at emerging products and technology. Now 21, Nash already had a number of viral app hits, including Fit or Fugly and Rack Stare, before joining News International to work on mobile properties including The Sun and The Times.

“I joined News Int to get a better understanding of how start-up life differs from working in a corporate, the politics and bureaucracy that comes with the territory, but more importantly, to help one of the world’s biggest companies transitiion from a print business to a digital one.” Of his appointment, Nash said: “I truly believe we have the ingredients needed to create a unique and exciting business. On top of this, it just so happens they are lovely people.”

Although less than a year old itself, AWARE has just re-iterated its website. Elina Hedman, director, said: “Ted epitomises the same principles that we had when starting AWARE – working quickly, wasting little, releasing software as often as possible. We have an iOS based messaging service on its way – something that will really disrupt the traditional messaging paradigm.”

Here’s an interview we did with the company back in December.

Written for Mobile Marketing Magazine and published here: http://www.mobilemarketingmagazine.com/content/aware-appoints-former-news-int-innovator

Level39 Tech Hub Opens at Canary Wharf

Occupying the 39th floor of Canary Wharf’s rather exclusive Canada One, Tech City’s newest accelerator is committed to transforming the financial sector that surrounds it, the shopping centres beneath and to enhancing the smart city technologies on which the area was first built.

This is not an attempt to “copy and paste” Shoreditch, said Eric Van Der Kleij, Head of Level39 and fintech entrepreneur, rather to be complementary to other tech hubs in the Capital and become the focal point for financial technology in London. The Mayor of London, Boris Johnson, marked the opening by unveiling a (rather suitable) digital plaque.

From meat shop to £1m pad


Canary Wharf already has some 7,000 people working in tech companies like Thomson Reuters and Ogilvy and Mather. Level39 has now welcomed its first businesses, which are competing in Accenture’s FinTech Innovation Lab start-up competition. This is sponsored by 14 of the overlooking banks, including Barclays and Capital One, and is backed by the Mayor’s office.

Digital Shadows, among the first tenants, is a cyber monitoring service created to help companies manage the ‘digital footprint’ left by social media, mobile and the cloud. Having started off as a two man band working above a meat shop in Farringdon, the company is completing its 10 week programme with mentoring from four banks in an office which is worth around £1.1m and used to be occupied by KPMG.

Government meets hackers


The accelerator space houses four sandboxes, including one called ‘Eastminster’, which has already been used by the Ministry of Justice to discover how they could use their procurement power to drive the economy, has event space for 250, the obligatory open plan eatery complete with iPad-controllled coffee machine and a board room. A hackday called ‘Hack (Make) the Bank’ to try and devise a new kind of banking was already underway.

A club lounge, with a membership fee to pay for the space, is half price for any business angels and VCs who are prepared to mentor the young companies. “They teach start-ups how to solve their problems faster. We focus every day on helping the companies get traction through mentoring – it is worth more than investment”, Van Der Kleij said. There are hotdesks available, along with more permanent work space. “If you ask us to build you a 2000 person facility – we would do that for companies rather than punishing them for growth.”

Cross-rail promise


Downstairs will be a “living lab for next generation retail technology” located in some of the “highest yielding shopping centres in the UK” he said. Level39’s future cities strategy will be unveiled later this year and much of it will be centred in the new Wood Wharf development. Van Der Kleij promised that Canary Wharf’s new cross rail station, with a 39 minute journey to Heathrow, would be completed by 2015, “years ahead of schedule”.

Canary Wharf Group has issued a call for companies and entrepreneurs to apply to be based at Level39. Click here for more info.

Written for Mobile Marketing Magazine and published here: http://www.mobilemarketingmagazine.com/content/level39-tech-hub-opens-canary-wharf