Drew Houston on wooing Dropbox’s IPO investors: “We don’t fit neatly into any one mold”

Dropbox went public this morning to great fanfare, with the stock shooting up more than 40% in the initial moments of trading as the enterprise-slash-consumer company looked to convince investors that it could be a viable publicly-traded company.

And for one that Steve Jobs famously called a feature, and not a company, it certainly was an uphill battle to convince the world that it was worth even the $10 billion its last private financing round set. It’s now worth more than that, but that follows a long series of events, including an increased focus on enterprise customers and finding ways to make its business more efficient — like installing their own infrastructure. Dropbox CEO Drew Houston acknowledged a lot of this, as well as the fact that it’s going to continue to face the challenge of ensuring that its users and enterprises will trust Dropbox with some of their most sensitive files.

We spoke with Houston on the day of the IPO to talk a little bit about what it took to get here during the road show and even prior. Here’s a lightly-edited transcript of the conversation:

TC: In light of the problems that Facebook has had surrounding user data and user trust, how has that changed how you think about security and privacy as a priority?

DH: Our business is built on our customers’ trust. Whether we’re private or public, that’s super important to us. I think, to our customers, whether we’re private or public doesn’t change their view. I wouldn’t say that our philosophy changes as we get to bigger and bigger scale. As you can imagine we make big investments here. We have an awesome security team, our first cultural principle is be worthy of trust. This is existential for us.

TC: How’s the vibe now that longtime employees are going to have an opportunity to get rewarded for their work now that you’re a public company?

DH: I think everyone’s just really excited. This is the culmination of a lot of hard work by a lot of people. We’re really proud of the business we’ve built. I mean, building a great company or doing anything important takes time.

TC: Was there something that changed that convinced you to go public after more than a decade of going private, and how do you feel about the pop?

DH: We felt that we were ready. Our business was in great shape. We had a good balance of scale and profitability and growth. As a private company, there are a lot of reasons why it’s been easier to stay private for longer. We’re all proud of the business we’ve built. We see the numbers. We think we’re on to not just a great business, but pioneering a whole new model. We’re taking the best of our consumer roots, combining them with the best parts of software as a service, and it was really gratifying to see investors be excited about it and for the rest of the world to catch on.

TC: As you were on your road show, what were some of the big questions investors were asking?

DH: We don’t fit neatly into any one mold. We’re not a consumer company, and we’re not a traditional enterprise company. We’re basically taking that consumer internet playbook and applying it to business software, combining the virality and scale. Over the last couple years, as we’ve been building that engine, investors are starting to understand that we don’t fit into a traditional mold. The numbers speak to themselves, they can appreciate the unusual combination.

TC: What did you tell them to convince them?

DH: We’re just able to get adoption. Just the fact that we have hundreds of millions of users and we’ve found Dropbox is adopted in millions of companies [was enough evidence]. More than 300,000 of those users are Dropbox Business companies. We spend about half on sales of marketing as a percentage of revenue of a typical software as a service company. Efficiency and scale are the distinctive elements, and investors zero in on that. To be able to acquire customers at that scale and also really efficiently, that’s what makes us stand out. They’ve seen Atlassian be successful with self-serve products, but you can layer on top of that leveraging our freemium and viral elements and our focus on design and building great products.

TC: How do you think about deploying the capital you’ve picked up from the IPO?

DH: So, we’re public because they wanted us to be a public company. But our approach is still the same. First, it’s about getting the best talent in the building and making sure we build the best products, and if you do those things, make sure customers are happy, that’s what works.

TC: What about recruiting?

DH: It’s a big day for dropbox. We’re all really excited about it and hopefully a lot of other people are too.

TC: When you look at your customer acquisition ramp, what does that look like?

DH: I mean, we’ve been making a lot of progress in the past couple of years if you look at growth in subscribers. That will continue. We look at numbers, we have 11 million subscribers, 80% use dropbox for work. But at the same time, we look at the world, there’s 1 billion knowledge workers and growing. We’re not gonna run out of people who need Dropbox.

TC: What about convincing investors about the consumer part of the business? How did you do that?

DH: I think, when you explain that our consumer and cloud storage roots have really become a way for us to efficiently acquire business customers at scale, that helps them understand. Second, it’s easy to focus on how in the consumer realm that the business has been commoditized. There’s all this free space and all this competition. On the other hand, we’ve never lowered prices, we’ve never even given more free space, we know that what our customers really value is the sharing and collaboration, not just the storage. It’s been good to move investors beyond the 2010 understanding of our business.

TC: How did creating your own infrastructure play into your readiness to go public?

DH: When I say that today is the culmination of a lot of events, that’s a great example. We made a many-year investment to migrate off the public cloud. Certainly that was one of the more eye-popping investors watching our gross margins literally double over the last couple of years from burning cash to being cash flow positive. We’ll continue reaching larger and larger scale, and those investments will.

TC: Getting a new guitar any time soon?

DH: I probably should.

How Raya’s $8/month dating app turned exclusivity into trust

The swipe is where the similarity ends. Raya is less like Tinder and more like a secret society. You need a member’s recommendations or a lot of friends inside to join, and you have to apply with an essay question. It costs a flat $7.99 for everyone, women and celebrities included. You show yourself off with a video slideshow set to music of your choice. And it’s for professional networking as well as dating, with parallel profiles for each.

Launched in March 2015, Raya has purposefully flown under the radar. No interviews. Little info about the founders. Not even a profile on Crunchbase’s startup index. In fact, in late 2016 it quietly acquired video messaging startup Chime, led by early Facebooker Jared Morgenstern, without anyone noticing. He’d become Raya’s first investor a year earlier. But Chime was fizzling out after raising $1.2 million. “I learned that not everyone who leaves Facebook, their next thing turns to gold,” Morgenstern laughs. So he sold it to Raya for equity and brought four of his employees to build new experiences for the app.

Now the startup’s COO, Morgenstern has agreed to give TechCrunch the deepest look yet at Raya, where the pretty, popular and powerful meet each other.

Temptation via trust

Raya COO Jared Morgenstern

“Raya is a utility for introducing you to people who can change your life. Soho House uses physical space, we’re trying to use software,” says Morgenstern, referencing the global network of members-only venues.

We’re chatting in a coffee shop in San Francisco. It’s an odd place to discuss Raya, given the company has largely shunned Silicon Valley in favor of building a less nerdy community in LA, New York, London and Paris. The exclusivity might feel discriminatory for some, even if you’re chosen based on your connections rather than your wealth or race. Though people already self-segregate based on where they go to socialize. You could argue Raya just does the same digitally.

Morgenstern refuses to tell me how much Raya has raised, how it started or anything about its founding team beyond that they’re a “Humble, focused group that prefers not to be part of the story.” But he did reveal some of the core tenets that have reportedly attracted celebrities like DJs Diplo and Skrillex, actors Elijah Wood and Amy Schumer and musicians Demi Lovato and John Mayer, plus scores of Instagram models and tattooed creative directors.

Raya’s iOS-only app isn’t a swiping game for fun and personal validation. Its interface and curated community are designed to get you from discovering someone to texting if you’re both interested to actually meeting in person as soon as possible. Like at a top-tier university or night club, there’s supposed to be an in-group sense of camaraderie that makes people more open to each other.

Then there are the rules.

“This is an intimate community with zero-tolerance for disrespect or mean-spirited behavior. Be nice to each other. Say hello like adults,” says an interstitial screen that blocks use until you confirm you understand and agree every time you open the app. That means no sleazy pick-up lines or objectifying language. You’re also not allowed to screenshot, and you’ll be chastized with a numbered and filed warning if you do.

It all makes Raya feel consequential. You’re not swiping through infinite anybodies and sorting through reams of annoying messages. People act right because they don’t want to lose access. Raya recreates the feel of dating or networking in a small town, where your reputation follows you. And that sense of trust has opened a big opportunity where competitors like Tinder or LinkedIn can’t follow.

Self-expression to first impression

Until now, Raya showed you people in your city as well as around the world — which is a bit weird since it would be hard to ever run into each other. But to achieve its mission of getting you offline to meet people in-person, it’s now letting you see nearby people on a map when GPS says they’re at hot spots like bars, dance halls and cafes. The idea is that if you both swipe right, you could skip the texting and just walk up to each other.

“I’m not sure why Tinder and the other big meeting-people apps aren’t doing this,” says Morgenstern. But the answer seems obvious. It would be creepy on a big public dating app. Even other exclusive dating apps like The League that induct people due to their resume more than their personality might feel too unsavory for a map, since having gone to an Ivy League college doesn’t mean you’re not a jerk. Hell, it might make that more likely.

But this startup is betting that its vetted, interconnected, “cool” community will be excited to pick fellow Raya members out of the crowd to see if they have a spark or business synergy.

That brings Raya closer to the Holy Grail of networking apps where you can discover who you’re compatible with in the same room without risking the crash-and-burn failed come-ons. You can filter by age and gender when browsing social connections, or by “Entertainment & Culture,” “Art & Design,” and “Business & Tech” buckets for work. And through their bio and extended slideshows of photos set to their favorite song, you get a better understanding of someone than from just a few profile pics on other apps.

Users can always report people they’ve connected with if they act sketchy, though with the new map feature I was dismayed to learn they can’t yet report people they haven’t seen or rejected in the app. That could lower the consequences for finding someone you want to meet, learning a bit about them, but then approaching without prior consent. However, Morgenstern insists, “The real risk is the density challenge.”

Finding your tribe

Raya’s map doesn’t help much if there are no other members for 100 miles. The company doesn’t restrict the app to certain cities, or schools like Facebook originally did to beat the density problem. Instead, it relies on the fact that if you’re in the middle of nowhere you probably don’t have friends on it to pull you in. Still, that makes it tough for Raya to break into new locales.

But the beauty of the business is that since all users pay $7.99 per month, it doesn’t need that many to earn plenty of money. And at less than the price of a cocktail, the subscription deters trolls without being unaffordable. Morgenstern says, “The most common reason to stop your subscription: I found somebody.” That “success = churn” equation drags on most dating apps. Since Raya has professional networking as well, though, he says some people still continue the subscription even after they find their sweetheart.

“I’m happily in a relationship and I’m excited to use maps,” Morgenstern declares. In that sense, Raya wants to expand those moments in life when you’re eager and open to meet people, like the first days of college. “At Raya we don’t think that’s something that should only happen when you’re single or when you’re 20 or when you move to a new city.”

The bottomless pits of Tinder and LinkedIn can make meeting people online feel haphazard to the point of exhaustion. We’re tribal creatures who haven’t evolved ways to deal with the decision paralysis and the anxiety caused by the paradox of choice. When there’s infinite people to choose from, we freeze up, or always wonder if the next one would have been better than the one we picked. Maybe we need Raya-like apps for all sorts of different subcultures beyond the hipsters that dominate its community, as I wrote in my 2015 piece, “Rise Of The Micro-Tinders”. But if Raya’s price and exclusivity lets people be both vulnerable and accountable, it could forge a more civil way to make a connection.

Facebook knows literally everything about you

Cambridge Analytica may have used Facebook’s data to influence your political opinions. But why does least-liked tech company Facebook have all this data about its users in the first place?

Let’s put aside Instagram, WhatsApp and other Facebook products for a minute. Facebook has built the world’s biggest social network. But that’s not what they sell. You’ve probably heard the internet saying “if a product is free, it means that you are the product.”

And it’s particularly true in that case because Facebook is the world’s second biggest advertising company in the world behind Google. During the last quarter of 2017, Facebook reported $12.97 billion in revenue, including $12.78 billion from ads.

That’s 98.5 percent of Facebook’s revenue coming from ads.

Ads aren’t necessarily a bad thing. But Facebook has reached ad saturation in the newsfeed. So the company has two options — creating new products and ad formats, or optimizing those sponsored posts.

Facebook has reached ad saturation in the newsfeed

This isn’t a zero-sum game — Facebook has been doing both at the same time. That’s why you’re seeing more ads on Instagram and Messenger. And that’s also why ads on Facebook seem more relevant than ever.

If Facebook can show you relevant ads and you end up clicking more often on those ads, then advertisers will pay Facebook more money.

So Facebook has been collecting as much personal data about you as possible — it’s all about showing you the best ad. The company knows your interests, what you buy, where you go and who you’re sleeping with.

You can’t hide from Facebook

Facebook’s terms and conditions are a giant lie. They are purposely misleading, too long and too broad. So you can’t just read the company’s terms of service and understand what it knows about you.

That’s why some people have been downloading their Facebook data. You can do it too, it’s quite easy. Just head over to your Facebook settings and click the tiny link that says “Download a copy of your Facebook data.”

In that archive file, you’ll find your photos, your posts, your events, etc. But if you keep digging, you’ll also find your private messages on Messenger (by default, nothing is encrypted).

And if you keep digging a bit more, chances are you’ll also find your entire address book and even metadata about your SMS messages and phone calls.

All of this is by design and you agreed to it. Facebook has unified terms of service and share user data across all its apps and services (except WhatsApp data in Europe for now). So if you follow a clothing brand on Instagram, you could see an ad from this brand on Facebook.com.

Messaging apps are privacy traps

But Facebook has also been using this trick quite a lot with Messenger. You might not remember, but the on-boarding experience on Messenger is really aggressive.

On iOS, the app shows you a fake permission popup to access your address book that says “Ok” or “Learn More”. The company is using a fake popup because you can’t ask for permission twice.

There’s a blinking arrow below the OK button.

If you click on “Learn More”, you get a giant blue button that says “Turn On”. Everything about this screen is misleading and Messenger tries to manipulate your emotions.

“Messenger only works when you have people to talk to,” it says. Nobody wants to be lonely, that’s why Facebook implies that turning on this option will give you friends.

Even worse, it says “if you skip this step, you’ll need to add each contact one-by-one to message them.” This is simply a lie as you can automatically talk to your Facebook friends using Messenger without adding them one-by-one.

The next time you pay for a burrito with your credit card, Facebook will learn about this transaction and match this credit card number with the one you added in Messenger

If you tap on “Not Now”, Messenger will show you a fake notification every now and then to push you to enable contact syncing. If you tap on yes and disable it later, Facebook still keeps all your contacts on its servers.

On Android, you can let Messenger manage your SMS messages. Of course, you guessed it, Facebook uploads all your metadata. Facebook knows who you’re texting, when, how often.

Even if you disable it later, Facebook will keep this data for later reference.

But Facebook doesn’t stop there. The company knows a lot more about you than what you can find in your downloaded archive. The company asks you to share your location with your friends. The company tracks your web history on nearly every website on earth using embedded Javascript.

But my favorite thing is probably peer-to-peer payments. In some countries, you can pay back your friends using Messenger. It’s free! You just have to add your card to the app.

It turns out that Facebook also buys data about your offline purchases. The next time you pay for a burrito with your credit card, Facebook will learn about this transaction and match this credit card number with the one you added in Messenger.

In other words, Messenger is a great Trojan horse to learn everything about you.

And the next time an app asks you to share your address book, there’s a 99-percent chance that this app is going to mine your address book to get new users, spam your friends, improve ad targeting and sell email addresses to marketing companies.

I could say the same thing about all the other permission popups on your phone. Be careful when you install an app from the Play Store or open an app for the first time on iOS. It’s easier to enable something if a feature doesn’t work without it than to find out that Facebook knows everything about you.

GDPR to the rescue

There’s one last hope. And that hope is GDPR. I encourage you to read TechCrunch’s Natasha Lomas excellent explanation of GDPR to understand what the European regulation is all about.

Many of the misleading things that are currently happening at Facebook will have to change. You can’t force people to opt in like in Messenger. Data collection should be minimized to essential features. And Facebook will have to explain why it needs all this data to its users.

If Facebook doesn’t comply, the company will have to pay up to 4 percent of its global annual turnover. But that doesn’t stop you from actively reclaiming your online privacy right now.

You can’t be invisible on the internet, but you have to be conscious about what’s happening behind your back. Every time a company asks you to tap OK, think about what’s behind this popup. You can’t say that nobody told you.

Kids Court, the grand prize winner from Amazon’s developer contest, disappears from the Alexa Skills Store

What does winning the Alexa Skills Challenge earn you from Amazon? Apparently, in addition to the $20,000 Grand Prize, you might also have your skill yanked from the Amazon Skill Store without warning. At least, that’s what seems to have happened to the grand prize winner from the recent Alexa’s kids competition, Pretzel Labs. Its winning submission, a fun skill called “Kids Court” where parents and kids settle arguments together using Alexa, has disappeared from Amazon’s Skills store.

There’s no update provided on the developer’s website or social media about the removal – and as a recent grand prize winner, one would have to assume a removal was unplanned.

Above: The Amazon.com-hosted page for the Kids Court skill

The problem also doesn’t appear to be one with the developer’s account, as other skills by Pretzel Labs – like “Freeze Dancers” – are still available, as of the time of writing.

That seems to indicate the skill was pulled for some other reason – like a content violation, a violation of terms, or just an accident. It’s not clear what would have triggered this, however, as the skill had not been substantially updated since it won Amazon’s contest.

Amazon is looking into the matter, but has not yet provided a comment.

Above: The Kids Court skill, from Google’s cache

Thousands of developers from 30 countries had registered for the Alexa Skills kid’s challenge, where they competed for a grand prize of $20,000, five bonus prizes ranging from $7,500 to $10,000, and a $5,000 prize for each of the 20 finalists. The competition was meant to help seed Alexa’s ecosystem with skills that would be popular with children and families, now that Alexa supports parental consent and COPPA compliance for skills.

Kids Court won the competition for its silly, family friendly skill that helps kids get over their disagreements.

“I decided to address one of the most agonizing parts of family life – kids fighting – and created Judge Lexy, which is an objective, quirky judge that helps kids settle their battles,” explained Pretzel Labs founder Adva Levin, in Amazon’s blog post about the winners.

The Alexa skill puts the dispute through a mock trial process and renders a verdict. (Kids might not fully understand words it uses like “plaintiff” and “defendant,” however, so it might be a better skill to use with mom or dad present.) The “judge” then issues a goofy punishment, like “try to stand on your hands.”

While it’s not unusual for an app of any kind – including a voice app – to get pulled from the app store when in violation of the store’s terms, it is odd that Amazon would pull a Grand Prize winner without at least trying to work out the problem in question with the developer first.

Otherwise, it could just look…you know…embarrassing for Amazon.

Pretzel Labs says Amazon told them today the removal was a “misunderstanding” and Amazon is working to get the skill returned to the Alexa Skill Store.

An Amazon spokesperson confirmed to TechCrunch that the company monitors live skills for quality, and it found Kids Court needed improvements. Amazon said it worked with the developer to make those improvements and the skill should return shortly*. [See update below.]

Regardless of what issues were present, this was surely a ham-fisted way of getting them addressed. It signals there’s a disconnect between Amazon’s ability to grow its voice app marketplace to now over 30,000 skills in the U.S. and the abilities of its app review team to properly handle the problems that arise.

*Update 1, 3/23/18 3:10 PM ET: Amazon reinstated the skill after this article was published; it’s live here.

Update 2, 3/23/18, 6 PM ET: Amazon provided a comment, and post was updated. 

Telegram chalks up 200M MAUs for its messaging app

Another usage milestone for messaging platform Telegram: It’s announced passing 200M monthly active users “within the last 30 days”.

The platform passed 100M MAUs back in February 2016, when it held a lavish party at the Mobile World Congress tradeshow in Barcelona to celebrate the metric. At the time it said it was adding 350k new users daily and that there were 15 billion messages generated daily.

Since then Telegram has kept its powder fairly dry on the usage metrics front — presumably waiting to be able to announce 200M.

Its blog post is not revealing of any other details about usage. Rather founder Pavel Durov uses the space to give thanks to Telegram users for getting the company to the milestone, and takes a sideswipe at other “popular apps” which he says — unlike Telegram — monetize via advertising and/or pass data on to third parties.

Safe to say, it doesn’t take much imagination to figure out who he might be thinking of

“Since the day we launched in August 2013 we haven’t disclosed a single byte of our users’ private data to third parties,” he writes (emphasis his). “We operate this way because we don’t regard Telegram as an organization or an app. For us, Telegram is an idea; it is the idea that everyone on this planet has a right to be free.”

We’ve reached out to Durov to see if he’ll give up any more Telegram usage tidbits and will update this post if so.

While he writes confidently now that “Telegram doesn’t… do deals with marketers, data miners or government agencies”, it’s not clear how much longer he’ll be able to stand up that claim — given the legal pressure being applied, for example, in Russia to hand over encryption keys or face being blocked. Telegram has also faced restrictions in Iran.

It told Bloomberg it plans to appeal the Russian ruling in a process that may last into the summer, according to company lawyer, Ramil Akhmetgaliev.

Durov also tweeted that: “Threats to block Telegram unless it gives up private data of its users won’t bear fruit. Telegram will stand for freedom and privacy.”

Apple could be announcing a new cheap iPad

According to a new report from Bloomberg, Apple could be unveiling a new version of its entry-level iPad at its event next week. The company is holding a press event on March 27 in Chicago. And the only thing that we know is that the event is going to be focused on the education market.

Apple launched a cheap iPad in March 2017 without any press conference. This iPad looks like the iPad Air 2 with a 9.7-inch retina display and an A9 chip — the chip that first appeared in the iPhone 6S. More importantly, the entry-level iPad that is simply called “iPad” only costs $320 for the 32GB version.

And it sounds like Apple is ready to introduce an updated version of this iPad. Maybe you can expect a True Tone display and faster components for instance. Hardware is just one part as Bloomberg also says that there will be new iOS features for the classroom.

While the iPad seems to be a great device for the classroom, Google has convinced many schools with its Chromebooks. These laptops are cheap, secure and easy to maintain. You can currently buy Lenovo Chromebooks for $179 without taking into account educational discounts.

Even if Apple chooses to reduce its margins with its new entry-level iPad, this could be a smart bet. Tech companies rely more than ever on the ecosystem of services and devices that they created.

Chances are you’ll like Android phones and Google services if you’ve spent years using Google Docs and Gmail on a Chromebook. Students who use an iPad every day could then become loyal Apple customers in the future.

Rumor has it that Apple is also working on an updated MacBook Air with an affordable price. But Bloomberg thinks the new laptop won’t be ready in time for next week’s event.

Ben is a chatbot that lets you learn about and buy Bitcoin

It’s generally a given that whenever a new technology takes off people rush into the space to build everything under the sun, and eventually natural selection kicks in and only the truly useful remain. For example, chatbots became trendy last year and we quickly began seeing chatbots for weather, movie recommendations, personal finance, etc. Some of these are useful, but until natural language processing improves you’re probably better just doing the task yourself.

But there are a few exceptions, with one in particular being chatbots designed for the purpose of making a very complex topic or task approachable to the average person.

Like cryptocurrencies.

Ben is a chatbot that lets anyone become familiar with cryptocurrencies via a recognizable chat interface. By talking with “Ben”, users can do things like take lessons and learn about cryptocurrency, read the latest industry news, and of course buy and sell Bitcoin.

By focusing on an underserved market (i.e people who have no idea what Bitcoin is or how to buy it) Ben has the unique advantage of not having to go head to head with established crypto titans like Coinbase or Circle.

The startup is part of Y Combinator’s Winter ’18 batch, and previously raised a $580K pre-seed from Third Kind Venture Capital and various angel investors.

After completing a KYC check (which is also done via chat) users in 21 states can buy and sell Bitcoin, with other states and support for Ethereum, Ripple, and Bitcoin Cash rolling out in the coming months. The startup charges 1% for buys and sells, which is in line or lower than most major exchanges.

The app also has a social feature where you can link with friends to see their returns (only on a percentage basis) to see who is a better investor.

User’s cryptocurrency is stored in the cloud but their private keys live only on their own personal device, which isn’t as secure as complete cold storage but does ensure that your bitcoin can’t be spent without someone having access to your phone. Ben also gives new users a backup seed to write down in case they lose their phone.

But Ben isn’t necessarily meant to support an experienced crypto user who has a high-value portfolio and needs advanced features and security.

Instead, the startup’s goal is to make buying and learning about cryptocurrency accessible to anyone, especially those without the technical knowledge or desire to spend the time learning how an exchange world. And as natural language technology evolves Ben will be able to answer more and more questions over time, making it a perfect on-ramp for people who need a little more hand holding before they open their wallet and trade their (actual) benjamins for a string of ones and zeros.

Revolut launches disposable virtual cards

Fintech startup Revolut is launching a new type of virtual cards — disposable cards for online purchases. While you could already generate additional virtual cards for a fee, this is a different kind of virtual card as it gets destroyed after each transaction.

If you usually shop on Amazon or if you have a Spotify subscription, those services first asked you to enter your card number and they keep charging the same card.

But what if you end up on a dodgy-looking site but you really want to buy that funny pair of socks? Chances are you won’t ever purchase anything againt on this website. And you don’t want to give them your actual card information.

Now, you can generate a virtual card in Revolut and enter it on that weird site. After the transaction, Revolut will disable this card forever. If the website wants to charge you again, the transaction will fail.

And if you’re on a shopping spree, Revolut generates a new disposable card seconds after the existing one is used. So you won’t be able to use those disposable cards for online subscriptions and recurring payments. But disposable cards can be useful to prevent fraud.

There’s no change to permanent cards. When you create a Revolut account, you get a virtual card for free. You can get a physical card for £5/€6 or you can subscribe to a Revolut Premium account to get it for free. Additional cards (physical or virtual) cost £5/€6, with a maximum of five cards in total.