How difficult was the Quora Haqathon

HE WANTS TO KNOW. Quora founder Adam D Angelo is fighting for the place next to Google STRIPE BERLINVALLEY.COM


1 HE WANT TO KNOW Quora founder Adam D Angelo is fighting for the place next to Google NUMBER 24 FREE STRIPE SOCCER TRIVAGO ZKZ How to build successful startups: Interview with John Collison These startups want to play in the league's billion dollar business Rolf Schrömgens explains how he deals with investors BERLINVALLEY.COM


3 EDITORIAL NENAD MAROVAC is the founder and CEO of DN Capital and controls the global activities of the VC from London. He is convinced that Germany only needs one strong startup hub: Berlin. Page 46 SUSANNE KREHL is Managing Director Austria and Switzerland at Barzahlen. She would like harmonious regulation at EU level as the basis for a European startup ecosystem for the next legislature. Page 22 THAT WE WANT TO CHANGE Dear Reader, The good thing about a rainy summer is that you don't have a guilty conscience when you sit in the office all day at work. The organizers of the big events were certainly less happy about this. Nevertheless, the two major events Noah and Toa were well attended again this year and for good reasons. Both events had great speakers on the program. We used that to talk to the founders, who normally cannot be found in Berlin. Adam D Angelo from Quora explains in an interview why Wikipedia and Google are no competition for the question and answer platform he founded. And John Collison from Stripe reports how he managed to set up the second successful organization and why his company is more than a payment provider. Stripe's goal is nothing less than to increase the gross national product of the Internet by helping companies get their businesses online. Both US companies have just launched in Germany. Rolf Schrömgens from the Trivago hotel search engine also has a few tips on the subject of building a successful company. It is interesting that several founders are convinced that an entrepreneur should not take Steve Jobs as a role model. The election campaign is not yet in full swing, but we've already asked around what founders and CEOs expect from the coming federal government. The first reaction is usually: Politicians should stay out of it. Nevertheless, we think that the general election should be an occasion to discuss the general conditions in this country. What needs to be changed so that more technology companies are not only founded here, but also find an attractive environment in the long term that enables them to grow and be internationally successful. We would be very happy if we can continue to discuss these topics with you online. Whether startups can scale successfully depends not only on whether the team and product are good, but also on success in the market. We asked what distinguishes successful salespeople, how you can recognize them and win them over to be found in our special on sales recruiting. Another success booster can also be cooperation with established companies. If you want to find out more, we recommend our NKF Summit Vol. 2, which will take place on September 8th in Berlin. More information on this in the magazine. Other exciting topics: startups that are revolutionizing the world of insurance and football. Corinna Visser wishes you lots of enjoyment while reading. Cover: Amélie Losier; Photos: Saskia Uppenkamp, ​​Dirk Kreuter / Bestseller Verlag, Cash payment Solutions, DN Capital DIRK KREUTER is one of the most successful sales trainers in Germany. He recommends founders build a functioning sales system instead of relying on talented salespeople. Page 56 Our cover: We met Adam D Angelo, the founder of Quora, at the Tech Open Air. The photo was taken by Amélie Losier. THANK YOU SO MUCH! WITHOUT THE SUPPORT OF OUR SPONSORS THIS FREE MAGAZINE WOULD NOT BE REALIZED. THANKS TO: / 3

4 20 WE STILL DO OUR THING Founder Rolf Schrömgens listed his company Trivago on the Nasdaq stock exchange. In an interview, he explains what the IPO means for him and why his investors cannot expect him to act on them. 32 AN INDUSTRY ON THE WAY The first Insurtechs get their license, twelve German corporations have just founded an Insurtech hub, investments have doubled: the Insurtech scene is taking off. 42 DRIVING THE ONLINE ECONOMY John Collison is the youngest self-made billionaire. In an interview, the Stripe founder explains what he learned in his first startup and what is important if you want to build a sustainable organization. 48 FOOTBALL Digitization does not stop at the stadium either, and many former football professionals are discovering startups as an investment opportunity. HAPPINESS-OFFICER office dogs are funny, create a good mood and should reduce the risk of burnout. We introduce a few: Leo (right) works as a guard dog at Campanda and makes even the toughest guys smile /

5 CONTENTS 12 We are the new ones: A brief portrait of startups 15 Festival: That was the Toa founder Adam D Angelo has big plans: The goal of Quora is for people to understand the world better FAST FORWARD 20 Trivago founder and CEO Rolf Schrömgens : We didn't want investors to tell us what to do 22 Election 2017: This is what founders want from the new government Photos: Amelie Losier, Insurtech Hub Munich, Sporttotal. Experience the future of technology, business and lifestyle. Learn more about the latest technologies. NEW in hall 26! SEPTEMBER 2017 EXHIBITION CENTER BERLIN IFA NEXT Innovation Engine including: Artificial intelligence: Amazon Alexa How voice recognition and intelligent algorithms are shaping the future IoT: Conrad Connect The challenge of building an IoT ecosystem. La French Tech How connectivity is reinventing mobility Robotics: Ubtech - Robots beyond the imagination IFA-BERLIN.DE

6 NEW With the kind support of Register now! VENTUREDAILY.COM

7 NEWS A home for the social community: Apartments, hotels, recreational and shopping opportunities for Facebook employees and other residents of Menlo Park are being built in Willow Campus. FACEBOOKS RENTAL PRICE BRAKES With Willow Campus, the company is planning its own village with affordable housing 1500 apartments, hotels, offices and a supermarket: These are the key data for the 22 hectare Willow Campus that Facebook wants to build in the Californian city of Menlo Park. The project is already in the planning phase and should be finished within ten years. With the campus, Facebook is reacting to the rising cost of living in the city and thus to a problem made by us. Until two years ago, the company had to pay its employees a bonus of dollars to lure them close to the company headquarters, but the attractiveness of the location has grown by itself with the company's success. Rental prices have tripled since Facebook set up in 2011. Many of the around residents can no longer afford the apartments. Living in Silicon Valley is now more expensive than in New York. The hospitals and schools in Palo Alto's neighboring town are already running out of staff. That is why Facebook not only wants to create affordable living space for its own employees on the Willow Campus, but also wants to offer 15 percent of the apartments below market value for other residents of Menlo Park. According to current plans, the first construction phase should be completed as early as 2021. The company developed the architecture of Willow Campus together with the New York design office OMA. You can find more simulations and a video at: Photos: OMA / Facebook, HeartBeatLabs GmbH, Auto1 MEGA-DEALS FOR GERMANY'S STARTUPS With an investment volume of almost 1.5 billion euros, the Berlin startups have almost three times in the first half of 2017 as much as taken in the same period of the previous year. According to the EY Start-up Barometer, this corresponds to 68 percent of the total investment volume in Germany. It is followed by Bavaria (213 million euros) and Hamburg (178 million euros). Two mega deals in particular were decisive for the success: In mid-May, Delivery Hero received 387 million euros from the South African investor Naspers, and shortly afterwards Auto1 (photo) announced a 360 million euros financial injection from various investors. SOUNDCLOUD DOES NOT WORK. NOT IN 50 DAYS, 80 DAYS, OR ANY ELSE IN THE FORESEEABLE FUTURE. YOUR MUSIC IS SAFE ALEX LJUNG, Soundcloud founder, comments on the company blog about the alleged problems with the music streaming service. HITFOX GROUP GOES INTO HEALTH Long waiting times, a lack of cooperation between health service providers and high cost pressure - medical care could be better in Germany. Digitization should ensure more efficiency and faster diagnoses. The Hitfox Group is reacting to this with the start of Heartbeat Labs, a vertical company builder. The aim is to set up three to five companies in the digital health sector every year. In the future, for example, patients should be able to order medication online and doctors should be able to exchange patient information faster and more securely. / 7

8 NEWS Appearance of the month GO AND AWAY Who is coming? Who is going? Who achieved what? These personal details determine the startup scene. BACK ON STAGE Entertainer Stefan Raab will hold a keynote at Bits & Pretzels Entertainer and presenter Stefan Raab will be at the upcoming Bits & Pretzels (September 24th to 26th in Munich), which, according to the company, is the largest founder festival In Germany, who gave the opening speech, the inventor of numerous TV shows such as Schlag den Raab and the Wok World Cup had withdrawn from the television business. His public appearances became rare. Now the comeback, which Raab should also use to advertise his newly presented show format. The Thing of the Year lets inventors, developers and founders compete against each other with their ideas and will be broadcast on Prosieben at the beginning of 2018. Some will remember: Raab himself invented a shower head that lets the head and hair dry. KIWI FOUNDER SAHNEN REAL ESTATE PRICE FROM Kiwiki co-founders Claudia Nagel (2nd from left) and Christian Bogatu (2nd from right) were honored as heads of the real estate industry 2017 at the Real Estate Industry Day. The startup manufactures keyless, electronic door opening systems. GILBERT DIETRICH GOES TO APERTO The Berlin communications service provider Aperto has filled the newly created position of Executive Director in the people team with Gilbert Dietrich. He previously worked in a similar role for the music streaming platform Soundcloud. CONTACT POINT FOR EXPERTS From all over the world specialists and companies come to the capital to gain a foothold here. With the move, however, there are also many questions, including about right of residence, setting up a company, business plans or work permits. The Business Immigration Service (BSI), which has had a new central contact point since mid-July 2017, helps here: on the sixth floor in the Ludwig-Erhard-Haus. The district office of Charlottenburg-Wilmersdorf is also represented there. GOOGLE OPENS FUTURE WORKSHOP Google has opened the first future workshop in Germany in Munich. Digital training camps are to take place in the facility, especially for schools and universities, but also for companies and associations. Future workshops are also to be built in Berlin and Hamburg by 2018. With its commitment, Google wants to fight against the shortage of skilled workers in the IT sector. It fits in with the fact that the group itself wants to expand its workforce at the Munich location in the near future. 8 / CODE UNIVERSITY RECEIVES APPROVAL The State of Berlin has granted state recognition as a university of applied sciences through the Senate Chancellery for Science and Research of the Code University of Applied Sciences. In October, the Code goes into operation for the first time and starts the first semester with around 75 students in the building of the new factory in Treptow. Code is a private university of applied sciences for digital product development with bachelor's degrees in software engineering, interaction design and product management. NAGA THREATENES TROUBLE FROM THE STOCK MARKET SUPERVISION The brilliant IPO of the Hamburg fintech company Naga Group has called the financial supervisory authority into action. The Bafin is now carrying out a routine analysis of market abuse and insider trading, a stock exchange spokeswoman told the Handelsblatt. Naga started on the Scale stock market segment in mid-July and recorded an enormous plus in the first few days, only to crash rapidly. The company agreed to support the investigation. ROWAN BARNETT BECOMES GOOGLE'S STARTUP CHEF Rowan Barnett will work for the German branch of Google. The 35-year-old becomes Head of Google for Entrepreneurs Germany. Barnett had previously built up Twitter's presence in German-speaking countries for more than four years. PSSST! Not yet ready to be announced MILLION BONUS AFTER TAKEOVER LENNART WITTGEN INCREASES AT KOLLE REBBE Lennart Wittgen joins the management of the Hamburg agency Kolle Rebbe. The 35-year-old headed a creative team for almost three years. In the future he will help shape the direction of the agency alongside Andreas Winter-Buerke. There are two rumors surrounding the takeover of the Viennese startup Mysugr. Roche is said to have paid 200 million euros. In any case, enough money that the employees should have received a bonus of one million euros. Remain silent and enjoy. INTELLIGENT SPEAKER FROM FACEBOOK? Allegedly, the social media platform is supposed to work alongside Samsung on such a permanent eavesdropper. Digitimes reports this, citing sources from the Asian supplier industry. It remains to be seen whether the segment will establish itself. Photos:, Rowan Barnett / Linkedin, Gilbert Dietrich / Linkedin, Kolle Rebbe, Bits & Pretzels

9 NEWS IFA CONSIDERS ITS ROOTS Innovation is our DNA, say the organizers, and with IFA Next we are creating a new framework for founders Photo: IFA The concept of the classic trade fair has been called into question. Today companies are much less dependent on the sovereignty of a global trade fair, but present themselves and their products on their own platforms and in their own formats, writes Capnamic partner Olaf Jacobi in Berlin Valley. This realization is forcing the organizers of the traditional trade fairs to rethink. While CeBIT intends to stage itself as an innovation festival for digital fans in the summer of next year, the Internationale Funkausstellung will be able to present its reinvention to the tech world in just a few weeks. CONCENTRATION ON INNOVATION From September 1st to 6th there will be a bigger stage for innovations for the first time. Startups, research laboratories, universities and companies together form IFA Next, a further development of the previous IFA Tecwatch innovation format. The central location is Hall 26, which, according to the organizers, is to be transformed into a unique innovation hub. In order to emphasize the focus on the original theme (DNA) of the IFA, the keynotes, partner conferences and other IFA focal points will also take place in the new environment. Is that the key to setting an exclamation point against modern conferences like the Noah, OMR, TC Disrupt, Bits & Pretzels or DLD? Successful events of tomorrow have to make it beyond the exhibition halls and create a public presence, says Jacobi. A STAGE IN THE MIDDLE Support comes again this year from the Federal Association of German Startups as the official partner and organizer of the IFA Startup Days. This year, on each of the six themed days, 20 young founders from one industry each, IoT, Smart Home, Virtual Reality, Digital Health, Future Mobility, will show where the technological journey into the future is going. In addition, every afternoon the startups have a suitable themed program in the so-called IFA Next Innovation Engine. On the stage in the center of the hall, the young companies pitch in front of IFA visitors, journalists, experts, decision-makers from industry and trade and in front of potential investors. If you arrive late, life will reward you. Secure the best advertising locations for your successful business start now and save up to 72%. 10 days of poster advertising from 179, - incl. Printing & assembly, plus VAT & shipping costs.

10 MESSAGES The future of travel IN AND OUT Who gets how much? Who takes over whom? Financing and exits PIPE FREE FOR WARR The Munich Hyperloop developers travel with a new pod to defend their title From Berlin to Munich in 30 minutes this travel dream of the future is taking shape. The high-speed transport system Hyperloop wants to compete with flight connections and other transport technologies in the future. Behind Hyperloop is Spacex, which is run by Tesla founder Elon Musk. In August, expanded prototypes from various development teams will compete against each other on a test track in Los Angeles. Team Warr from the Technical University of Munich will also be there, who were the only ones to get to the end of the test tunnel with their pod during the first run of the Hyperloop Challenge organized by Spacex in January. The revised capsule that has now been presented is expected to reach a top speed of 350 kilometers per hour with a weight of 70 kilograms. Later, travel speeds of up to 1125 kilometers per hour are planned with Hyperloop.In mid-August the team of 30 travels to California. 50 MILLION DOLLARS FOR NEWSTORE After a 38 million dollar round last year, the Newstore shop system received fresh capital again: The startup was able to earn 50 million dollars in a B series from Activant Capital, former investor General Catalyst and collect company founder Stephan Schambach. According to the company, the first European customer is Adidas. DO YOU HAVE EXCITING NEWS? WRITE TO US: FINLEAP SECURES EUR 39 MILLION SAMSUNG NEXT LAUNCHES IN BERLIN The South Korean company continues to expand in Europe and has settled in Berlin with its investment arm Samsung Next. The first acquisition of the $ 150 million fund led by Amen founder Felix Petersen is the Greek text-to-speech startup Innoetics. Peterson is still sitting at Hackescher Markt with two employees. Up to 100 employees are planned. SUCCESSFUL IPO FOR DELIVERY HERO The food delivery service, known for brands such as Lieferheld, Foodora or, achieved its largest IPO of the year in Germany on June 30th. The first price was EUR 26.90, which is well above the issue price of EUR 25.50. When it went public, the Berlin-based company raised just under a billion euros from investors. 10 / WILKT: BLOOMY DAYS REPORTS INSOLVENCY The startup had just expanded its business model, now the Berlin flower delivery service Bloomy Days is filing for bankruptcy. According to the founder, Franziska von Hardenberg, the reason is a financing round that was canceled at short notice. Actually, the startup wanted to focus more on business customers in the future, who take care of larger orders and order more regularly. For example, Bloomy Days wanted to send gifts to their business partners for its corporate customers. It is a very sad day. One is now fighting to secure jobs and continue to be able to deliver flowers, announced von Hardenberg. But now it is the provisional insolvency administrator Torsten Martini's turn. The company builder Finleap from Berlin was able to collect 39 million euros. Investors included the insurer Hannover Re, the German insurance company Signal Iduna, the SBI Group from Japan and the Dutch NIBC Bank. Finleap wants to expand further with the help of international donors. EXIT FOR TOOLS ONLINESHOP CONTORION The Munich-based company Hoffmann buys the Berlin-based project A startup Contorion. The companies Kärcher and Klöckner had already invested in the tool shop. The acquisition is said to cost Hoffmann more than 100 million euros. After the sale, Contorion will continue to exist as an independent brand under the management of the founders. Photos: WARR Hyperloop, Contorion, Money Conf / Flickr, Newstore

11 MELDUNGEN The journey is the goal DATES Where you can still apply now TRAMPLE ON THE LINE A bike lane could be built across Berlin under the U1. Finally, cycling across Berlin is safer, faster and protected: this is the vision the eight-person founding team of the Paper Planes association wants to achieve with the Realize the cycle track project. The new cycle path will stretch nine kilometers under the 1 underground line between the Warschauer Straße and Zoologischer Garten stations. Electricity for the lighting should be generated by the vibrations of crossing cars. The realization would probably cost between 13 and 27 million euros, depending on the design. For further campaign measures, the team wants to collect money from Startnext by August 14th. The goal is euros. But even when the euro is reached, a 140-page feasibility study is to be printed and sent to all important decision-makers and politicians in the capital. DEGEWO INNOVATION AWARD: The housing construction company is looking for technologies, services and business models from the real estate sector. The winner will implement his idea together with Degewo in a pilot project and will also receive prize money of 3,000 euros. The five finalists also receive expert coaching. Applications by August 11 at: CLIMATE-KIC: Europe's largest cleantech accelerator starts its new funding round. We are looking for scalable and technologically promising business ideas with high climate relevance. In three phases of six months each, the program offers euro funding without the founders having to give up shares. The application deadline is August 13th. DIGITAL LOGISTICS AWARD: The competition is aimed at startups from the logistics sector. Participants can present their idea on paper, as a podcast, photo story or video and apply for the finale at the Future Logistics Congress on September 12th. The top three receive benefits in kind and in cash in the amount of euros. The application deadline is August 31st. INSIGHTS AND CONTACTS The NKF Summit Vol. 2 shows how startups can work together successfully with corporates Photos: Reindeer Renderings, Saskia Uppenkamp Startups are innovative and agile and they change markets radically. But they often lack the access to customers that established companies have. The NKF Summit Vol. 2 is dedicated to the question of how startups and corporates can best work together and benefit from each other. Using various case studies and cooperation models such as accelerator, lab or hub, such as corporate venture, joint venture or acquisition, top-class experts explain how this cooperation can be made profitable for both sides. KNOW-HOW FROM PRACTICE NKF Media is the publisher that brings out Berlin Valley. The NKF Summit Vol. 1 last year was a great success. FDP leader Christian Lindner was one of the guests at the time (see photo). The successful path is to be continued with the NKF Summit Vol. 2. The aim of the conference is once again to support corporates in their transformation so that they can permanently secure their future viability in international competition and in the digitalized economy. And startups should find new partners. In various lecture and discussion formats, startup entrepreneurs, investors, representatives of leading corporates and other digitization experts exclusively share their insights and their practical know-how. The NKF Summit Vol. 2 provides concentrated knowledge for sustainable companies. The following will speak on stage: Frank Kebsch, CEO of Arvato Financial Solutions, Philipp Markmann, CMO of L Oréal Germany, Joachim Harms, Managing Director of Oetker Digital. In addition, Rocket board member Alexander Kudlich, Movinga managing director Finn Age Hänsel, CEO Philip Siefer from Einhorn Products and Philipp Hartmann, principal from Index Ventures. DEEP DIVE WORKSHOPS In addition to the lectures, there are many opportunities to network with one another. In the deep dive workshops, including on topics such as corporate venture capital, individual topics can be discussed even more intensively. Established companies and startups can present themselves to the 500 expected participants in the exhibition area. Particularly attractive conditions apply to startups. The NKF Summit Vol. 2 will take place on September 8, 2017 from 9 a.m. to 7 p.m. in the Radialsystem in Berlin. There are 50 free tickets for founders and startup CEOs to apply for. The conditions of participation and further information about the program can be found at / 11

12 NEW STARTUPS WE ARE THE NEW ones New ideas and startups arise in Germany every day. Berlin Valley presents some of them OUT OF THE FILTER BUBBLE The Buzzard looks at issues such as flight and migration from different angles and supplements the leading media with contributions from bloggers and other opinion leaders. The idea: not just to surround yourself with people and information that confirm what we already believe. The startup is working on automating the curation of the articles. TWO ME, TWO YOU Via Reposée, owners of weekend or holiday homes can rent out their properties when they are not using them themselves. In contrast to other portals, it is rented for a longer period of time. The tenant can use the weekend house every day of the week or the tenant and landlord use the holiday home two weeks a month. EXPERIENCE SOUND NEW The Zeppy Bluetooth loudspeaker aims to establish itself as an all-rounder in the field of sound. It floats on the water and is therefore also suitable for the pool. With sound profiles for music, film and language, it adapts to any content. With the massage profile, Zeppy can even give the user a sonic massage. The startup has just successfully completed its crowdfunding via Indiegogo. YOU JUST FOUNDED A STARTUP? SIGN UP: 12 /

13 NEW CITY, NEW FRIENDS Getting to know people in a new environment is not easy for everyone. 25friends helps and connects 25 users from the same city in a group chat who have the same age and similar interests. Every user can create events for his group and 25friends will point out suitable events. The app was downloaded times in the first month. WHO AM I AND WHAT CAN I DO? Bebrilliant is an app for personality analysis. Users answer questions in order to find out their personal and professional strengths and can invite people around them to assess them. Based on the personality profile, Bebrilliant gives tips for self-coaching and sets tasks that are individually tailored to each user. Shaping the world anew together. In IT. In Berlin. The international radiance makes Berlin a very special type of melting pot. Because here globally operating companies from IT and Internet business meet creative minds from all over the world. This results in solutions and products that are not only really good, but also look really good. Would you like to use this unique dynamic for yourself? Learn more. In Berlin. Log in. Photos: James Padolsey, Quentin Dr, Wu Jianxiong, Clem Onojeghuo, Michael James, Zeppy LOGISTICS IN THE COMMUNITY If you want to transport something from A to B, you can use the Cocarrier community to find a courier who can deliver the item cheaply Destination brings. The goods are insured and the sender can track them via GPS. Cocarrier sets the price, 75 percent of the money goes to the courier, the startup finances itself with the remaining 25 percent. Texts: Anna-Lena Kümpel EUROPEAN UNION European Fund for Regional Development Investment in your future! IFA 2017: Visit our GeoIT Talks! September 6th 10:00 am City Cube Berlin

14 WE ARE NKF #StartupEnthusiasts We are excited about the future and believe that startups will make the world a better place for everyone. These companies deserve a big stage with spotlights to tell their stories. With our products we give insights into the fascinating world of startups and help to understand them. Whether print, digital service, platform or event: We design progressive products based on the latest technology and make them accessible to everyone. WE ARE CURRENTLY LOOKING FOR: Art Director (m / f) Project Manager (m / f) Editor (m / f) Junior Event Manager (m / f) Interns (m / f) 14 / APPLY NOW

15 THAT WAS TOA 17 Invented Tech Open Air: Lorem Ipsum Lorem founder Niko Ipsum Woischnik Lorem Ipsum Jwd jans far out, as the Berliner says, the former broadcasting house is on Nalepastraße. But for the two-day Tech Open Air conference, the trip to Oberschöneweide is definitely worth it. Together with the more than 200 satellite events spread all over the city, the participants were even able to learn and discuss more about the latest technology trends in the most diverse areas of business, art and science for four days. The Haus of Tech had its premiere on the festival site on the Spree, where around 150 startups were able to present themselves for the first time on a 3000 square meter exhibition area. There was a full program on the stages: Among other things, you could experience people as diverse as Quora founder Adam D Angelo (interview on page 18), former Federal Minister of Economics Philipp Rösler, who now works for the World Economic Forum, Trivago founder Rolf Schrömgens (Interview on page 22) or Branden Spikes, formerly CIO at Spacex. But the curiosity was not always satisfied: Mike Butcher from Techcrunch was unable to elicit CEO Alex Ljung about how things are going on at Soundcloud. vis spoke about the future of electronic music: Richie Hawtin In the large studio room: audience eager to listen Photos: Dan Taylor, Toa Live broadcast: Niko Woischnik speaks to Felix Petersen about Samsung Next. Right on the Spree: lots of space for networking, chatting and chilling / 15 photos:

16 INTERVIEW Photos: Photo: Amélie Losier / Room 11

17 INTERVIEW WE FOCUS ON QUALITY CEO Adam D Angelo on Quora in German, artificial intelligence and why Wikipedia and Google are not competitors Adam, you were the CTO of Facebook. Do you regret leaving the company? No. I always wanted to start my own company. I think my contribution to the world with Quora is unique and Quora wouldn't exist without me. Facebook was still a very small company when I left, but I was sure it would continue without me. When you think back to what the internet was made for, does Quora belong to it? In any case. The goal of Quora is for people to share knowledge and understand the world better. There is a lot of information on the Internet, but much, much more knowledge is still in people's minds. When we founded Quora, there was no other platform where people could share in-depth knowledge. Our goal was to create this place. The internet is a place to share knowledge. But the development went in a different direction at first. Anyone could create a website or forum. As a result, the quality of the information suffered and the Internet failed to deliver on its promise. I believe Quora has more potential than the decentralized blogs, forums, and other websites. Most popular are trivial things, like Snapchat, for example. The internet is getting bigger and bigger and that's why there is enough space for Snapchat and Quora. The question is, is the internet there for sharing serious information or more for fun? It's there for both. Sometimes people want to know something and sometimes they just want to be entertained. I am personally happy to have created a knowledge product. Because knowledge always has a positive influence. People need access to information in order to make good and right decisions. Or to choose the right president. Ideally. But a lot is opinion and not knowledge. A man with a mission: Adam D Angelo is convinced that knowledge makes the world better. We also have opinions at Quora, but we usually have opinions from well-informed experts. I don't think there are any more helpful opinions than those of the experts. People today have access to more information than ever before. Does it make them smarter and more intelligent? I think so. In the end, information helps people do something better, no matter what it is. A counterexample from Europe: When it came to Brexit, many experts said that voters did not understand the consequences. There was a lot of discussion and information, but in the end people didn't make the better decision. That's true. Quora offers access to better knowledge, but not everyone uses Quora. That would really lead to better decisions. Unfortunately, many other platforms do not offer high-quality information. Instead, people find fake news. THE GOAL OF QUORA IS TO MAKE PEOPLE UNDERSTAND THE WORLD BETTER There is fake news and alternative facts. Is there also falsified knowledge and alternative information? We focus on quality. There is a big difference between Quora and other knowledge platforms right from the start. Every user has to use their real name and we check their identity. We also use machine learning and try to submit questions to experts in the respective field. We show the answers to other experts and listen to their opinions, thus ensuring quality. How many employees does Quora have and how is the company structured? We have around 200 employees who have very different tasks. We rely heavily on machine learning. For this we need a lot of data, for example about our users and the areas in which they are familiar. We collect characteristics such as university degree, medical education, whether they are lawyers, work for a specific company or live in a specific location. All indications that someone is an expert in a certain area. Most of our developers are working on this machine learning system. Another team takes care of the moderation of the content on the site, for example. We have many rules for this: Users must not be harassed. An answer should always help the person who asked the question. Statements must be substantiated. Our English site has 200 million visitors a month. That is a large cross-section of society. How do your technicians manage to structure the knowledge? We have a large database with all questions and answers, which in turn are sorted by topic. We differentiate between physics, biology, chemistry and many other sciences. This is followed by further subdivisions, for example into quantum physics, mechanics and the theory of relativity. Within quantum physics, a distinction can be made between quantum mechanics and quantum field theory. This division into topics can go very deep.One of the great things about Quora is that we can connect laypeople with experts. You live in Berlin. What should I see when I'm in Berlin for the first time and have 36 hours to spare? You should be able to give a good answer because you live here. But we also have experts exchanging ideas with experts. We don't give financial incentives, but I believe that people are naturally willing to share their knowledge. NAME: Quora FOUNDED: 2009 FOUNDER: Adam D Angelo, Charlie Cheever EMPLOYEES: 200 LOCATION: Mountain View SERVICE: Question-and-answer platform with 200 million monthly users / 17

18 Adam D Angelo in Berlin: Fireside chat in the studio at Tech Open Air Do people just want to be nice? There are also many people who found a job at Quora because of their answers. For example, there was a man from Silicon Valley who answered many questions about software for service companies. With the reputation acquired in this way, he was able to raise money for a venture capital fund. It took you a long time to get ads on Quora. Must be difficult to place ads in the atmosphere you've created? The English Quora site has grown very quickly and we have invested a lot of energy to ensure the high quality. Normally we would have had to monetize and internationalize the site much earlier, but that just had to wait. How does advertising work with the high quality standards that you have set? Many questions revolve around products that can be bought. The manufacturers can then, for example, book advertisements for questions related to their products. That is good for both sides, because the questioners are already interested in the topic. WE ARE NOT FOR SALE Do you see Wikipedia as competition? We have no direct competitor. Sometimes you can find explanations on Wikipedia or ask a question in a forum or share your knowledge in your own blog. But sharing high-quality knowledge with us is unique. How is Quora different from Google? Google is very good at finding information that is already on the internet. Quora is the exact opposite and brings new knowledge online. With us, users ask questions 18 / that have not yet been answered elsewhere. Our experts' answers can, in turn, be found using Google. This makes the search engine more helpful for users and we benefit from the new visitors that Google sends. What does the future of Quora look like? There are always rumors of a sale or an IPO. Next, we want to grow internationally and support other languages. There are now 200 million English-speaking users and there can be many more. We need partners for this. But we also want to remain an independent and profitable company in the long term. We are not for sale. I read that your funders are quiet and patient. Exactly. Is that correct? Yes, we deliberately opted for investors who are not after the quick buck. They too want their investment back at some point, but they are willing to wait longer for more profit. Are there things that keep you awake? I can sleep very well, but I believe that machine learning has great potential and can get a lot better. If everyone in the world has a Quora account, then we want to get the questions straight to the person who can best answer them. Our biggest challenge is to find the best expert on a question. That's why we put a lot of energy into making the algorithms better and better. Voice control is a big topic right now, for you too? Language is a wonderful means of communication, even when using a computer or smartphone. Speech output, on the other hand, is not nice. It may be useful when driving, but we can read and absorb information much faster. No speech output is that fast. It is conceivable that you ask your question orally at Quora, but the answers come in writing. How is the structure of the German version going? Do you translate existing answers? We don't translate. We'll start from scratch. Everyone can ask questions in German and everyone can write answers. That's why we're now doing a lot of promoting Quora so that a lot of people who are knowledgeable in different areas can register with us and help other users. What developments are you currently observing in Silicon Valley? Silicon Valley is strong as always. Currently, many are concerned with artificial intelligence, machine learning or cryptocurrencies. On the other hand, there is the housing crisis. I look jealously at Berlin. There is enough living space there. In Silicon Valley, rents have risen so sharply that it is difficult for many people to find an apartment or a house. A lot of people are leaving Silicon Valley because of this. Interview conducted by Jan Thomas. ADAM D ANGELO learned QBasic as his first computer language as a schoolboy. Today he is the co-founder and CEO of Quora. He was previously the CTO of Facebook from 2006 to 2008. The most recent funding round of $ 85 million in April 2017 brought Quora's valuation to $ 1.8 billion. Photos: Amélie Losier / Raum11

19 AD Founder and CEO Brian Gitta with Matibabu, the world's first non-invasive, optoelectronic malaria test device. INNOVATION SAVES THE WORLD Bayer Foundation brings successful social impact entrepreneurs to the TOA stage Let s create social fiction together that is the goal of the new social vertical initiative of the Bayer Foundations and the Tech Open Air (TOA). The two partners believe that the power of innovation is an important motor for progress and prosperity in society and, as part of the initiative, brought social pioneers to the stage of the TOA. Because as Niko Woischnik, founder of Tech Open Air, explains: Wanting to improve the world with technology should not only concern Silicon Valley. Ten companies presented themselves at the pitch under the motto Let s make tech good again. They are part of the Bayer Foundation's new social fiction booth. The program supports selected winners of the Aspirin Social Innovation Award in developing and scaling their solutions for a better world. DIAGNOSING MALARIA WITH AN APP One of these solutions is called Matibabu: Malaria is a problem in large parts of the world and must be diagnosed at an early stage. The regular IF YOU WANT TO BECOME A BILLIONAIRE, THEN SOLVE THE PROBLEM OF A BILLION PEOPLE THEN Thimo V. Schmitt-Lord MBE, CEO Bayer Foundations Diagnosing a blood test is too expensive for many people. Matibabu, a startup from Uganda, has developed an app that can detect malaria using a light sensor that is clipped onto the finger. It thus enables malaria mass screenings without a blood test. This is much cheaper and can also be carried out in remote areas without a doctor and without the risk of HIV infection. As inspiration for social entrepreneurs, the Bayer Foundations also brought Saskia Bruysten, CEO of Yunus Social Business, and Marc Buckley, founder of Anja, onto the stage. The startup from Hamburg only uses renewable resources to produce food, and Marc wants to develop this way of working as the standard for the entire industry. The TOA Social Vertical was a successful debut that we want to advance with TOA in the coming years, says Bayer Foundations Board Member Thimo Schmitt-Lord. Let s create social fiction together: Panel discussion (left), the ten startups of the Social Fiction Booth (center) and Marc Buckley, founder of the startup Anja (right)

20 INTERVIEW NAME: Trivago FOUNDED: 2005 FOUNDERS: Rolf Schrömgens, Malte Siewert, Peter Vinnemeier EMPLOYEES: more than 1300 LOCATION: Düsseldorf SERVICE: global hotel search platform WE STILL DO OUR THING Here Trivago founder Rolf Schrömgens talks about communication with investors , right motivation and the Düsseldorf location Rolf, have you already looked at the share price today? No. What is the significance of the course for you? Little. I get one in the evening, it's in the headline. That's why I can't overlook it. But other than that, I don't look. Has the company changed since going public? If so, then only for the better. We managed to find ourselves a little more with the IPO. We have regained our own identity. 20 / How so? We decided a few years ago to partner with Expedia and take them on board as an investor. At that time we didn't want to go public. We wanted to continue to grow under the mantle of a large company and not immediately be in the limelight as a company. But then we realized that we actually had all the disadvantages of a public company because we had to publish quarterly reports and so on. Nevertheless, we still had our own identity, because Trivago and Expedia are different companies with two very different cultures and it has stayed that way. The IPO shows that. And we can now tell our own growth story much more strongly. How do you preserve your culture when a strategic investor like Expedia holds 60 percent of the shares? How the shares are economically distributed is independent of the distribution of power in the company. Mark Zuckerberg also no longer holds 60 percent of Facebook. I think we have even more stakes in ours than Mark Zuckerberg does in his company. We are still perceived as an entrepreneurial company. Because Expedia allowed it or did you fight for it? We fought for freedom because freedom has always been important to us as a founding team. That's why we made almost no financing rounds. We didn't want investors to tell us what to do. That was always a dominant motive. And that's still the case today: we're still doing our thing here. Investors are welcome to rate that. Why did you bring Expedia into the company? As long as we keep our control, we don't care whether we hold 51 or 40 percent of the company. But I find the widespread attitude strange, on the one hand, to be extremely exit-oriented: When can I finally sell? And on the other hand, not to allow that you can take a little money with you from the company in between. By the way, I strongly advise founders to do so. It's also for photos: Amelie Losier, Trivago

21 INTERVIEW Brought his company to the Nasdaq: Now Trivago can tell its own growth story much more strongly, says founder Rolf Schrömgens. The motivation is important not only to orientate oneself to this one distant point, the exit. In the beginning, as an entrepreneur, you borrow money from your parents, girlfriend, parents of your girlfriend, aunt, uncle and so on. I kind of collected money from everyone. It is simply good if you can repay something in between and meet your fundamental needs. Otherwise the pressure to sell will at some point become too great. How would you describe your dealings with investors? We have always been very honest when communicating with the capital markets. We said very clearly: You can expect that from us, you cannot expect that. Do not expect us to follow you. We will not manage you, we will be honest and authentic. In the beginning, that's why the banks declared us crazy. Did you advise you to be kinder to investors? Yes, and manage expectations. But I think that today it is more about being very transparent. And that's what we try. That gives us freedom within. If you don't have to pursue three plans, one for yourself, one for the employees and one for the capital markets, but only one plan for all three, then that gives you incredible freedom in your head. You are listed on the Nasdaq. Have you considered moving your headquarters to the USA? There was just never a reason to. Isn't it a disadvantage to sit in Düsseldorf? It wasn't a disadvantage for us. But we're also a little special. If you are looking for financing, it is actually a disadvantage to sit in Düsseldorf. There is simply no capital flow. Would you recommend founders to stay in their cities or should they go to the big hubs? That is also a political question: are we now developing Berlin as a central point or are we forming a federal system? I think timing matters. This federal system, which we also have in Europe with its many centers, was very disadvantageous for a very long time. There was just one big center in the US. The critical mass is then quickly reached there. In Europe it was reached very late. I think that has been a disadvantage in the past. But I'm not so sure whether this will still be the case in Europe in the future, because critical mass has now been achieved in many metropolises in London, Berlin, Paris, Stockholm and Lisbon. And then all of a sudden federalism is quite a nice thing. Because then you don't have such high prices as in Silicon Valley, which is an extreme disadvantage. What advice do you have for founders who want to go public with their company on the Nasdaq? So maybe first, not to have the goal of going on the Nasdaq. The goal must first be to create a good product that really helps people and solves a real problem. This is the start. Then it's about building a good company and creating the right motivation for the people in the organization. At some point that was almost even more important to us in management. We give the direction and if you invest a lot in the organization, you can trust that the right content will come out of it. At the beginning, a company may benefit for a while from a brilliant founder who has incredibly good ideas and who manages to push these ideas consistently into the organization. If he's an absolute genius, then he can do it over a longer period of time. But for that you have to be someone like Oli Samwer or Steve Jobs. I wouldn't trust that I could do that as an entrepreneur. How do you have to build the organization? You have to build an organization that develops its own content. In which you do not direct from top to bottom, but where good ideas rise from bottom to top. And which are then taken up and implemented. That’s a lot more efficient. Trivago's success is not inevitable ROLF SCHRÖMGENS is co-founder and CEO of Trivago. Rolf grew up in Mönchengladbach and studied at the HHL Leipzig Graduate School of Management. During his studies he worked on his first startup, the consumer portal, which later merged with based on the fact that we had a great idea. The idea was never great, and we're not the only ones either. But we have become better than others and have developed faster because we have a strong organization. Do you see yourself more as a coach or a boss? The idea isn't all that bad, Coach. I believe that you can only be successful if you can intrinsically motivate people. Any extrinsic motivation is a bad substitute and can hardly work. But intrinsic motivation is just incredibly difficult to generate. How did you do it? You have to leave space so that people can intrinsically motivate themselves. And that takes courage, because you can no longer tell people: Now do A or do B !, but the question is always: What do you want to do now? This also requires a great deal of discipline in the company. It's about leadership without control. Leadership works through inspiration. The interview was conducted by Corinna Visser. A unicorn from Düsseldorf: The Trivago team has now grown to more than 1,300 employees. / 21