A new report from ad agency Tinuiti broke down where advertisers allocated their dollars during the July ad boycott of Facebook. It found 40% of advertisers spent the money on paid search like Google, while 24% put it on other social platforms like Pinterest and Snap. Of the advertisers that paused their Facebook spending in July, 76% reactivated it in August while 24% stayed off the platform. Visit Business Insider's homepage for more stories. More than 1,000 companies boycotted Facebook in July over concerns about the platform's content moderation policies. Many of the boycotters were brands like Starbucks and Unilever that use advertising to shape consumer sentiment while Facebook's bread and butter, smaller advertisers, tended to stay put. A new report from ad agency Tinuiti, which handles more than $1.5 billion in ad spend, mostly performance marketing, on platforms like Facebook, Google, and Amazon, analyzed the impact of the boycott and where dollars were reallocated. Tinuiti found just 26% of its clients participated in the boycott while 36% did not pause Facebook campaigns in July. Another 64% of clients just paused Facebook spending on July 7 for Blackout Day, where people were encouraged to spend only on Black-owned businesses. Of the advertisers that paused their Facebook spend in July, 76% reactivated it in August while 24% stayed off the platform. Advertisers moved the Facebook ad dollars to Google Tinuiti also broke down where advertisers reallocated their Facebook ad dollars. Fully 40% of its advertisers that paused their Facebook campaigns in July used that money to buy search ads on platforms like Google, while another 24% spent more on other social platforms, especially Snap and Pinterest. An additional 24% of advertisers increased spending on display ads. And 36% of advertisers didn't spend their Facebook budgets elsewhere. Only 8% of Tinuiti's clients said that they planned to spend their withheld dollars with Facebook later this year. Facebook ad prices fell in July Tinuiti also found that ad prices in July dropped 36% on Facebook's main app and 30% for Instagram year-over-year, citing the boycott as a factor in the decline. The agency warned that Facebook isn't the only platform that will be scrutinized over its practices and encouraged clients to diversify their spending on platforms. Join the conversation about this story » NOW WATCH: Swayze Valentine is the only female treating fighters' cuts and bruises inside the UFC octagon
The watches are described as “heavy-duty models that are great for wear in tough environments and as street fashion items as well”.
We’re here to guide you through the coronavirus pandemic. Sign up to the Life newsletter for daily tips, advice, how-tos and escapism.After weeks of guiltily buying coffee in takeaway cups, we’re allowed to resume  our former green habits, because coffee chains are starting to allow reusables once more. Coffee chains began to ban the use of reusable coffee cups in early March, in a  bid to reduce the spread of coronavirus. But Starbucks announced reusable cups would be permitted in the UK again from Friday 7 August. It follows the move from Costa Coffee, which reintroduced reusable cups back into stores on June 4. However, other chains are remaining cautious, keeping the bans in place for now.READ MORE: How Covid Waste Is Affecting The Planet In March, Dr Edward Wright, a senior lecturer in microbiology at the University of Sussex, explained why reusable cups might be a problem for the spread of the virus.“SARS-CoV-2, which causes Covid-19, is a respiratory virus. This means the virus replicates in cells that line the airways and given the proximity of the airway and mouth, new virus particles produced can readily contaminate the saliva,” he told HuffPost UK.“Therefore, reusable cups that have not been cleaned and have the virus on their surfaces pose a potential route of transmission for respiratory infections if the cup comes into contact with the coffee machine.”But Starbucks says it has trained staff to use renewables safely, with no contact between the cup and the barista.A video on the company’s website shows how this works: customers will be asked to place their personal cup into a tray or larger mug, which will be used to transport the cup, without staff touching it.Baristas will make your coffee and pour it into your cup, within the larger carrying vessel, before passing it back to you. “This new procedure will be introduced across all stores and is integrated into the upweighted cleaning measures already in place,” Starbucks said. “Starbucks will continue to honour the 25p discount to customers who bring in a reusable cup.”Costa Coffee also says the safety of customers and staff is a “priority”, confirming that customers can bring reusables into stores. “We have temporarily updated our instructions for teams members around how to manage and handle reusable cups in light of COVID-19 - with minimal contact and enhanced hygiene procedures,” a spokesperson said. “Customers can also continue to benefit from 25p off any handcrafted drink when purchased using a reusable cup, regardless of brand.”Greggs told HuffPost UK its stance hasn’t changed and it currently isn’t accepting reusable cups in stores. HuffPost UK has also contacted Caffè Nero and Pret regarding their current policies and will update this article when we receive their responses. READ MORE: We Tested 9 Of The Best Reusable Coffee Cups (And Yes, We're Still Slightly Buzzing) The Most Common Long-Term Symptoms Of Covid-19 Upgrade Your Go-To Vegan Dishes With These Tasty One Pot Recipes
Coffee shops, and Starbucks in particular, are associated with relaxing and getting work done, depending on your mission for the day. To help facilitate that, Starbucks offers coffee, laptops bars, and a large number of power outlets, but it is taking things a step farther in Japan with the introduction of a full and proper co-working space…that exists within a … Continue reading
Facebook moderators have called for the ad boycott against the company to be extended, according to The Guardian. Companies such as Starbucks, Coca-Cola, and Unilever have participated in the boycott, which began in response to the company's decision not to take action against controversial posts from President Trump regarding the George Floyd protests. Despite the boycott, Facebook's ad revenue still grew in the second quarter of 2020, although its growth rate was lower than that of the first quarter. Visit Business Insider's homepage for more stories. Facebook moderators are calling for the giant ad boycott against the company — in which companies such as Starbucks, Coca-Cola, and Adidas have participated — to be extended, according to a new report from The Guardian. One moderator told the outlet that the boycott would be a "PR stunt that will pass" unless the movement lasted for an extended period of time. Another speaking to The Guardian was skeptical that the boycott will have any meaningful effect on the social media giant, which just posted better-than-expected daily user numbers and revenue growth in its most recent earnings report.  "It's good that their policies are getting attention," on moderator told The Guardian in July. "In this way, we all may benefit. But facing the attack they're retrenching, so it's hard to predict what's going to be the effect of this."  Others, according to the report, expressed concern that calls for increased content moderation would put more of a burden on the moderators themselves, some of which are already grappling with PTSD from the job.  "We respect any brand's decision, and remain focused on the important work of removing hate speech and providing critical voting information," a Facebook spokesperson said to Business Insider. "Our conversations with marketers and civil rights organizations are about how, together, we can be a force for good." Throughout the month of July, civil rights organizations asked advertisers to boycott Facebook after the company made a controversial decision not to take action against a post from President Trump regarding the George Floyd protests. The post in question included the phrase, "when the looting starts, the shooting starts." Facebook's choice has sent ripples throughout the company, prompting some employees to speak out or resign in protest. Companies such as Unilever, Verizon, Ford, and Ben & Jerry's have participated in the ad boycott.  Facebook, however, hasn't cited the boycott as having a major impact on its ad revenue. Facebook attributed any slowdown in ad revenue coming in the next quarter to other factors as well, such as macroeconomic uncertainty and a slowdown in usage compared to when lockdown orders were in place. Sheryl Sandberg, Facebook's chief operating officer, also said the company agrees with the boycotters in standing against hate speech when speaking on the company's recent earnings call. "We completely agree that we don't want hate on our platforms, and we stand firmly against it," she said. "We don't benefit from hate speech. We never have. Users don't want to see it. Advertisers don't want to be associated with it. And we've been working for a really long time to get better at finding it."SEE ALSO: We've all been neutered by what Apple did:' App makers are rallying against Apple's claims that it creates a level playing field for everyone Join the conversation about this story » NOW WATCH: We tested a machine that brews beer at the push of a button
With the pandemic increasing the amount of food delivery and hurting restaurants' bottom lines, buzzy ghost kitchens see an opportunity to grow.  The category had already attracted a lot of interest, notably from Uber co-founder and former-CEO Travis Kalanick, who launched CloudKitchens in 2016.  We compiled 14 of the biggest players in the ghost kitchen world to show the international scope of the budding space. Visit Business Insider's homepage for more stories. The pandemic has closed thousands of restaurants, many for good, while food delivery volume is increasing substantially. Much of the country reopening indoor dining, but Opentable is reporting that the amount of seated diners continues to substantially underperform last year.  Ghost kitchens, a buzzy class of startups, were already betting that delivery would grow in market share, attracting founders including billionaire Uber ex-CEO Travis Kalanick, but the rapid increase in delivery demand has accelerated their growth.  These companies operate a kitchen that hosts multiple restaurants or menus, from which they only do delivery orders (or sometimes pick up). Some run their own food brands, while others partner with local chefs or established delivery brands.  While American startup hotbeds like Silicon Valley and New York have seen multiple ghost kitchen startups, this trend is worldwide, with Dubai, India, and Western Europe emerging as other areas that have spawned multiple startups.  "Every single restaurant globally became a ghost kitchen overnight," Corey Manicone, CEO and cofounder of Zuul Kitchens, told Business Insider. He said that the pandemic has accelerated the concept by three to five years, but that there's a lot of growth ahead.  "We're at the same place as e-commerce in the early 2000s," he said.  Money continues to flow into the space: both Zuul and hotel-focused ghost kitchen Butler Hospitality raised money in July, $9 million and $15 million respectively. Karma Kitchen, a UK based kitchen, recently raised $318 million as well.  In a time of economic contraction, the model makes a lot of sense for restauranteurs. Real estate and labor costs can be pooled across multiple restaurants, lowering the amount of square footage and the number of employees a restaurant needs. Less overhead, with the same amount of income.  Read more: Bond, which has raised $15 million from investors including Lightspeed, wants to become the Shopify of logistics by turning vacant retail space into warehouses The pandemic's impact on retail space, including restaurant space, has also been a boon for the industry. Firms convert restaurant space, underutilized retail space, and occasionally industrial space into ghost kitchens. Two of those three categories, retail and restaurants, are having an outsized negative effect from the pandemic, which leads to a glut of supply for ghost kitchens. While real-estate firms may not have originally planned to bring ghost kitchens into their space, the bottoming out of demand from traditional tenants has opened many up to the business.  "A lot of these development companies, larger landholders, and real-estate firms are taking a forward-looking, reset view of what is the best way to optimize their holdings for the future," Jim Collins, founder and CEO of Kitchen United, told Business Insider.  We've created a list of 14 of the hottest startups in the space, highlighting where they've received money and what's different about their concept. SEE ALSO: Bond, which has raised $15 million from investors including Lightspeed, wants to become the Shopify of logistics by turning vacant retail space into warehouses SEE ALSO:  Butler Hospitality Money raised: $20.2 million Investors: Mousse Partners, The Kraft Group, Entrepreneurs Roundtable Accelerator, &vest, Scopus Ventures, Loeb.nyc Cities / Countries it operates in: NYC, expanding to Chicago, Miami, Washington DC What it does: Butler Hospitality, founded in 2015, puts a twist on the classic ghost kitchen model, delivering room service at multiple hotels across New York. What makes it different: According to founder and CEO Tim Gjonbalic, hotels lose a lot of money on food and room service, but need it in order to bag high-paying business travel clients and conference and event clients.  While hotels have been hit hard, Gjonbalic believes that this will actually be a boon to his business, as they'll look to cut costs, focusing on food and beverage first.  "The only way for our clients to get contracts for the National Guard at the Javitt Center or for visiting nurses was to make sure there's food and beverage for them," Gjonbalic told Business Insider.  CloudKitchens Money raised: $400 million Investors: Saudi Arabia's sovereign wealth fund Cities / Countries it operates in: US, China, India, and Europe What it does: CloudKitchens was founded in 2016 by former Uber CEO and co-founder Travis Kalanick. The company is quite secretive and doesn't advertise locations or conduct interviews. The company operates its own brands, with names like " B*tch Don't Grill My Cheese," and has locations in the US, China, India, and Europe. What makes it different: The most major difference is Travis Kalanick and the Saudi Arabian sovereign wealth fund. Saudi Arabia was a long time backer of Uber.  The Wall Street Journal has reported that the company has made roughly 10 acquisitions of ghost kitchen competitors around the world, and has bought over 100 properties globally, but didn't report actual locations and asset types.  Deliveroo Money raised: $1.5 billion Investors: Amazon, Fidelity Management and Research Company, T. Rowe Price, Accel, Index Ventures and other Cities / Countries it operates in: UK What it does: Deliveroo is one of the largest food delivery services in the UK. The company has also been dipping its toes into ghost kitchens for a few years, setting up shop in converted shipping containers in parking lots.  What makes it different: Deliveroo isn't the only delivery service to try the ghost kitchen business. Uber Eats launched a location in Paris in 2018, but then closed it at the end of 2019.  Karma Kitchen Money raised: $318 million Investors: Vengrove Asset Management Cities / Countries it operates in: London What it does: Karma Kitchen was founded in 2018 by two sisters, Eccie and Gini Newton, and earlier this month raised a massive $318 million series A funding round from industrial-focused real estate firm Vengrove Asset Management. The company works with other brands, that can rent out space for as little as $53 a shift. As of now, they have one location in London, but the company is expected to open two more locations in the city and plans to expand across Europe. What makes it different: While Karma Kitchen seems to follow a pretty traditional ghost kitchen model at the moment, their partnership with Vengrove implies that the company might continue to dig into industrial space.  Read more: A flexible leasing company — think Classpass for apartments — is expanding to cities like Denver and Atlanta after building a C-suite with former WeWork and Airbnb execs Keatz Money raised: Roughly $23 million  Investors: Atlantic Food Lab, U-Start, K Fund, Project A Ventures, JME Ventures, Marco Valta Cities / Countries it operates in: Berlin, Amsterdam, Madrid, Barcelona, and Munich What it does: Keatz was founded in Berlin in 2016 and has now grown to ten different cloud kitchens. The company develops its own brands and menus, and has focused on providing food that can easily be delivered. What makes it different: Keatz's range of locations across European cities gives it access to a wide range of markets.  Kitchen United Money raised: $50 million Investors: GV (Google Ventures), RXR Realty, Fidelity, DivcoWest, G Squared Cities / Countries it operates in: Chicago, Pasadena, Scottsdale, and Austin, expanding to locations like New York City and Los Angeles What it does: Jim Collins, the founder of Kitchen United, worked in tech until he decided to open up his own restaurant in 2014. "I thought I would prematurely age less if I bought and ran my own restaurant," Collins told Business Insider. The stress of running a kitchen changed that dream for him very quickly.  By 2017, he founded Kitchen United, after seeing the challenges that his restaurant had in the face of increasing delivery demand. The company started with one location in Pasadena in 2017, and has now grown to four locations. Kitchen United partners with other brands, instead of creating its own. What makes it different: The company's funders include RXR Realty, a forward-thinking real estate owner and operator, and GV, Google's venture arm. This combination gives the company access to leaders in both real estate and tech, a big advantage in the ghost kitchen world.  Kitopi Money raised: $89 Million Investors: BECO Capital, VentureSouq, Crescent Enterprises, MSA Capital, Reshape, and more Cities / Countries it operates in: Dubai, Abu Dhabi, London, Kuwait, Riyadh, and New York What it does: Kitopi, founded in Dubai in 2018, has grown substantially across the Middle East, and launched in New York in late 2019. The company announced this March that it would partner with Nathan's Famous Hot Dogs to deliver across New York City.  The company works with restaurants to deliver food out of their ghost kitchens, using Kitopi's own chefs to prepare the food. What makes it different: The company plans to grow rapidly. When the company announced its fundraising round in February of this year,  it also announced that it planned to open 50 locations in the US and 100 globally by the end of 2020. Rebel Foods Money raised: $342.3 million Investors: Sequoia Capital, Lightbox, Coatue Management, Goldman Sachs and more Cities / Countries it operates in: 35 cities across India and Dubai What it does: Faasos, an Indian company founded in 2011, began life as a fast-food restaurant that focused on Indian food specifically. The company scored an early investment from Silicon Valley power players Sequoia Capital, and eventually renamed itself to Rebel Foods.  The company switched from traditional restaurants to delivery-only ghost kitchens, spinning off Faasos as one brand under the Rebel Foods banner in 2015. What makes it different: Rebel Foods now has more than 320 ghost kitchens across 35 cities in India, as well as in Dubai, and is the largest cloud kitchen operator in the world.  Read more: Logistics startup Bond has teamed up with SoftBank-backed REEF Technology to bring nano-warehouses to parking lots across the US. Here's how they're building the distribution hubs of the future. REEF Technology Money raised: Undisclosed Investors: Softbank Cities / Countries it operates in: Mainly the US and Canada, but expanding to Europe What it does: REEF Technology is the company's largest parking lot operator, but it doesn't picture itself as a parking company, instead using parking to  "transform underutilized urban spaces into neighborhood hubs that connect people to locally curated goods, services, and experiences,' according to its website. The company does that by providing space for light logistics companies, like its partnership with Bond, and by creating their own ghost kitchens, or in REEF parlance, REEF Neighborhood Kitchens.  What makes it different: REEF, founded in 2013 as ParkJockey, now owns 4,500 parking lots, making it able to rapidly scale up according to demand. The company partners with local restauranteurs to launch in new locations, instead of operating its own brands.  Star Kitchens Money raised: N/A Investors: N/A Cities / Countries it operates in: China What it does: Star Kitchens is quite different from others on this list, as it is not a stand-alone company, but instead a partnership between Starbucks and the Alibaba owned grocery store Freshippo.  Customers can order online, and then within 15 minutes, pick up their Starbucks order in the store. At the moment it is operational in three Freshippo stores, but there are plans to expand to other locations.  What makes it different: Star Kitchens is quite different from others on this list, as it is not a stand-alone company, but instead a partnership between Starbucks and the Alibaba owned grocery store Freshippo.  Alibaba launched Freshippo in 2016, with the intention of launching a mobile-first grocery store. The brand now includes many different retail concepts, from convenience stores to the Star Kitchens kiosks.  Sweetheart Kitchen Money raised: $23.5 million Investors: Undisclosed Cities / Countries it operates in: Dubai and Kuwait, and the company is planning to add more locations across Saudi Arabia.  What it does: Sweetheart Kitchen was founded in Dubai in 2019 by Peter Schatzberg, who had previously founded pioneering ghost kitchen company Green Summit Group in 2012.  The company has created 30 of its own food brands.  What makes it different: Schatzberg's prior experience is extremely rare in this new industry. Green Summit Group company had early success but eventually ran out of money, which could teach Schatzberg major lessons about how to run a sustainable ghost kitchen business. Read more: Meet Material Bank, a Bain-backed logistics startup disrupting the architecture industry. Here's a look at its vision for becoming the Amazon of design. Swiggy Access Money raised: $1.6 billion Investors: Prosus Ventures, DST Global, Tencent, Meituan-Dianping and others Cities / Countries it operates in: India What it does: Swiggy is India's largest food delivery service. After launching in August of 2014, it has raised $1.6 billion in funding from major venture firms like Prosus Ventures, DST global, Bessemer Venture Partners.  The company launched its ghost kitchen brand, Swiggy Access in 2017, and at the end of 2019, the company had 8,000 people working for Swiggy Access, with its eyes on 7,000 more employees by the end of 2020. The company claimed to have 1,000 ghost kitchens across the country. What makes it different: Swiggy's built-in customer base is a major boom to the business. However, it was hit hard by the pandemic, with two rounds of roughly 1,000 person layoffs, one of which hit the cloud kitchens almost exclusively. TechCrunch got ahold of an internal email where CEO Sriharsha Majety said that the company had shut down many of its kitchens as a result of the virus, many of them permanently.   Taster Money raised: $13.1 million Investors: LocalGlobe, Marc Menase, Heartcore Capital, Global Founders Capital, Founders Future, Battery Ventures, Eduardo Ronzano, Kima Ventures Cities / Countries it operates in: UK, France, and Spain What it does: Taster, founded in 2017, operates its own food brands across Europe. What makes it different: The company was founded by Anton Soulier, a former Deliveroo executive.  It doesn't handle its own real estate, and partners with companies like CloudKitchens to find locations.  Zuul Kitchens Money raised: $9 million Investors: Undisclosed Cities / Countries it operates in: New York City What it does: Zuul Kitchens, a New York City-based ghost kitchen operator, was founded in 2018 by Corey Manicone, the former director of sales for white-label delivery operator Relay.  The company acquired food-delivery tech platform Ontray earlier this year. What makes it different: The company has partnered with brands like salad-masters Sweetgreen and Asian fast-casual Junzi in its NYC ghost kitchens. By working with established brands, this should lower the marketing burden on the company.
It largely shrugged in the face of hundreds of brands walking away
Facebook's advertising revenue will only grow by 10% through October, the company predicted Thursday. That's down from 17% in the first quarter thanks to a litany of impacts, including a high-profile advertiser boycott. Major spenders including Walmart, Coca-Cola, and Starbucks stopped buying Facebook ads earlier this year in protest of hate speech on the platform.  Visit Business Insider's homepage for more stories. Facebook's advertising revenue growth is slowing dramatically, but executives were quick to dismiss any notion that the headline-grabbing boycott by would-be buyers is behind the plateau.  In its second-quarter earnings report Thursday, the social network reported its ad revenue growth had declined to 10% year-over-year in July, something it expects to continue through October. That's a big slump from growth rates as high as 17% year over year in the first quarter — but the company lumped any effects from major advertisers' pausing of large campaigns in with three other major headwinds. Specifically, Facebook blamed "continued macroeconomic uncertainty" alongside a slowdown in the initial usership surge from coronavirus lockdowns, California regulations, and the boycotts for the advertising slowdown. Many large companies — including Walmart, McDonalds, Geico, Disney, and more — have slashed their planned spending on Facebook, though many of the announcements came during the third quarter, meaning the impact won't be fully disclosed until at least October. On a conference call with investors and analysts, Facebook executives sought to quell fears that the boycott could have a negative impact on the company's financials. "It's an interesting situation we find ourselves in because I think oftentimes when companies are boycotted, it's because they don't agree with what the boycotters want," COO Sheryl Sandberg said. "That's not true at all here. We completely agree that we don't want hate on our platforms, and we stand firmly against it. We don't benefit from hate speech. We never have. Users don't want to see it. Advertisers don't want to be associated with it. And we've been working for a really long time to get better at finding it." She also said that Facebook is working with outside organizations to perform a "brand safety audit" that it hopes to release by the end of the third quarter. That promise did not go over well with civil-rights groups, who met with Sandberg and Zuckerberg in early July and came away frustrated, characterizing the meeting as a "disappointment" and saying it showed Facebook "is not yet ready to address the vitriolic hate on their platform." Facebook only partially addressed hiring a civil-rights expert and "offered no attempt" to address the other demands, the groups said. "We didn't get commitments or time frames or clear outcomes. We expected specifics, and that's not what we heard," Anti-Defamation League CEO Jonathan Greenblatt said on a call with reporters. But Wall Street analysts say the sheer breadth of the Facebook advertiser base can also mitigate the impact from specific defectors. "With 9 million+ advertisers on the platform, we do not believe the ads boycott will have a major impact," JPMorgan analyst Doug Anmuth said Friday. "Overall, we expect upside to 3Q numbers as marketers ramp up unallocated ad spend in 2H." Facebook's stock price surged more than 7% in trading Friday following the earnings beat. Shares have easily outpaced market indices amid the coronavirus-induced recession, and are up 20% since the beginning of the year. Additional reporting by Tyler Sonnemaker.Join the conversation about this story » NOW WATCH: We tested a machine that brews beer at the push of a button
Hi! Welcome to the Advertising Insider daily for July 30. I'm Lauren Johnson, a senior advertising reporter at Business Insider. Subscribe here to get this newsletter in your inbox every weekday. Send me feedback or tips at [email protected] Today: Walmart's new weapon against Amazon, the big four tech firm CEOs testify about antitrust concerns, and Snap's power players. Walmart is pushing harder into advertising with a new tool that shows if people buy a product after seeing an ad for it Walmart is steadily building an internal advertising business to rival Amazon and is launching a measurement tool that tracks sales after someone sees an ad. Jeff Clark, VP of product and product marketing at Walmart Media Group, told me that the new tool is Walmart's first step in building an ad manager akin to the software that advertisers use to buy ads on Amazon, Facebook, and Google. He also said that the number of advertisers who have participated in Walmart's eight-month-old advertising API has increased by fivefold but did not say how many total advertisers are in the program. Read the full story here. Lawmakers question the CEOs of Apple, Google, Facebook, and Amazon The CEOs of Facebook, Google, Apple, and Amazon testified in front of the US House of Representatives' Antitrust Subcommittee yesterday over concerns that the tech companies hold too much control. The executives pushed back on the antitrust concerns: Facebook's Mark Zuckerberg said that for every $1 spent on US advertising, Facebook makes 10 cents; Tim Cook from Apple said that its app store is a fair playing field for all developers; Amazon's Jeff Bezos said that its marketplace does not crush third-party sellers; and Alphabet's Sundar Pichai said Google's search algorithms do not favor its own content. Amazon's Bezos added that he could not guarantee that a policy prohibiting Amazon from using seller data to inform its private-label brands has not been violated. Read the full story here. The 31 top power players helping CEO Evan Spiegel run Snap Tanya Dua and Paige Leskin identified the top leaders at Snap, which has made a comeback from challenges a couple years ago. The executives include chief business officer Jeremi Gordon, VP of Americas Peter Naylor, VP of global operations Radhika Kakkar, and VP of US advertiser solutions Luke Kallis who help run Snap's advertising business. The executives also span engineering, policy and investor relationships. Read the full story here. More stories we're reading: Some members of multilevel-marketing company Young Living are making questionable claims about 'essential oils' curing cancer and coronavirus (Business Insider) Short-form video app Triller has hired 18-year-old TikTok star Josh Richards as its chief strategy officer and an investor says it's looking to raise $250 million in new funding (Business Insider) 'We are not the enemy': TikTok CEO slams Facebook for attacking the Chinese company and launching 'copycat' product (Business Insider) The pandemic reshaped Americans' daily Starbucks routine, leading to menu tweaks and a new time for the morning coffee run (Business Insider) ByteDance investors value TikTok at $50 billion in takeover bid — sources (Reuters) The Trade Desk is building version 2.0 of its unified ID (Adweek) Thanks for reading and see you tomorrow! You can reach me in the meantime at [email protected] and subscribe to this daily email here. — LaurenJoin the conversation about this story » NOW WATCH: July 15 is Tax Day — here's what it's like to do your own taxes for the very first time
The growth sectors of the Mobile Payments Market are identified with precision for a better growth perspective.The Global Mobile Payments Market is driven by some of the fervent players operating in the market including Amazon.com, Inc. (US), Alipay.com (China), Apple (U.S.), PayPal holdings, Inc. (US), Starbucks Corporation (US), MasterCard Incorporated (US), General Motors Company (US), Samsung Group (South Korea), Square, Inc. (US) and Paytm (India).FREE [email protected] https://www.marketresearchfuture.com/sample_request/2922Global Mobile Payments Market - OverviewMobile Payments are a cashless medium for day-to-day transactions.This emerging technology allows its users to make immediate cashless payments by using smartphones and without even needing to access their bank accounts.Furthermore, the burgeoning e-commerce sector provides impetus to the market growth.Acknowledging the exponential growth the market perceives currently, Market Research Future (MRFR), in its recently published market forecast asserts that the global Mobile Payments market will climb up to USD 3,300 Billion by 2023, registering a massive, double-digit CAGR of 32 % throughout the forecast period (2017 – 2023).Mobile Payments a convenient and cost-effective way of making payments.For instance; in 2017, Govt.
Capsule Coffee Machine Market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market.Capsule coffee machine market will expected to register a growth at a rate of 12.3% for the forecast period of 2020 to 2027.Capsule coffee machine market report analyses the growth due to factor such as increasing usage and consistent brewing results.Get Sample Report at : https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-capsule-coffee-machine-marketCompetitive Analysis: Global Capsule Coffee Machine MarketFew of the major competitors currently working in Global Capsule Coffee Machine Market are Keurig Green Mountain, Inc., Nespresso S.A., Dualit, JACOBS DOUWE EGBERTS PRO, STARBUCKS CORPORATION., LUIGI LAVAZZA SPA, Koninklijke Philips N.V., Jacobs Douwe Egberts GB Ltd, illycaffè S.p.A., Coffeeza, AAA ELECTRIC APPLIANCE, BUNN, Bloomfield, Grindmaster-Cecilware, Inc., Hamilton Beach Brands, Inc., Wilbur Curtis Co., Avantco Equipment, Bravilor Bonamat, Food Equipment Technologies Company,  among other domestic and global players.Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately.DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.Key Pointers Covered in the Global Capsule Coffee Machine Market Trends and Forecast to 2026Global   Capsule Coffee Machine Market New Sales VolumesGlobal   Capsule Coffee Machine  Market Replacement Sales VolumesGlobal   Capsule Coffee Machine Market Installed BaseGlobal   Capsule Coffee Machine Market By BrandsGlobal   Capsule Coffee Machine Market SizeGlobal   Capsule Coffee Machine  Market Procedure VolumesGlobal   Capsule Coffee Machine Market Product Price AnalysisGlobal   Capsule Coffee Machine Market Healthcare OutcomesGlobal   Capsule Coffee Machine Market Cost of Care AnalysisGlobal   Capsule Coffee Machine Market Regulatory Framework and ChangesGlobal   Capsule Coffee Machine Market Prices and Reimbursement AnalysisGlobal   Capsule Coffee Machine Market Shares in Different RegionsRecent Developments for Global   Capsule Coffee Machine Market CompetitorsGlobal   Capsule Coffee Machine Market Upcoming ApplicationsGlobal   Capsule Coffee Machine Market Innovators StudyGet Detailed TOC:https://www.databridgemarketresearch.com/toc/?dbmr=global-capsule-coffee-machine-marketScope of the Capsule Coffee Machine MarketCapsule coffee machine market will expected to register a growth at a rate of 12.3% for the forecast period of 2020 to 2027.
Activists say Facebook's resilience to the boycott points to a competition problem
Over the past two weeks, the term “Google Tax” has picked up mainstream relevance in India.For a long time, big foreign companies such as Google, Amazon, Facebook, Apple, Starbucks etc.managed to pay less corporate taxes in some geographies by pursuing the controversial tax-avoidance trick of diverting their profits or royalties to other, low-tax jurisdictions (aka tax havens).It is this discrepancy that a Google Tax seeks to compensate.As of today, more than two dozen countries have implemented or announced intentions to implement a digital tax on big tech companies.But doing so is easier said than done.Being the HQ of the biggest tech companies, the US has responded to moves to impose such digital levies with heavy-handed threats to impose retaliatory measures.Click link to read more about the Google Tax: https://transfin.in/what-is-the-google-tax-in-india
Though there were warning signs that Luckin’s prospects were too good to be true, investors were too dazzled by the company’s growth story.
This month a Google employee posted a poll on the social network Blind asking employees if remote work was hurting their mental health. More than 9,700 employees of different companies responded, with two-thirds saying they were feeling stressed by working from home.  The companies where the most employees feel remote work is hurting their mental health are Yelp, Facebook, PayPal, and Yahoo. The companies where the fewest employees feel remote work stress are Snapchat, Workday, and T-Mobile. The more than 600 comments on the poll provide a fascinating window into home offices with some feeling stressed, some enjoying remote work, and some fine with remote work but disliking quarantined life overall.  Visit Business Insider's homepage for more stories. In early July, an apparent Google employee posted a survey on the anonymous social network Blind asking a simple question: "Is WFH hurting your mental health?" The poll quickly racked up responses and comments, with two-thirds of the more than 9,700 employees answering that yes, it was.  In order to join Blind, you must use a work email, which then marks you on the platform as an employee of that company (though it's possible to keep an account active even after you've left). Based on responses, the companies where the most employees feel remote work is hurting their mental health are Yelp, Facebook, PayPal, and Yahoo, with more than 80% of employees each. Snapchat, Workday, and T-Mobile, meanwhile, ranked lowest, with fewer than 55% of respondents at each saying that yes, it was affecting their mental health.  Generally, Blind posts its own polls, so the fact that a Google employee asked this one is unique, the company said, describing the more than 600 comments as "free-flow emotional responses [that] show how personal all these obstacles feel." The most-liked comment posted in response to the poll was from an engineer at Microsoft, who wrote: "The extended working hours and no line between home and work are certainly hurting." It garnered 145 likes. The next-most-liked comment reflected a different common sentiment. An engineer at Algorand, a Boston firm that helps companies use blockchain wrote: "The office was never a place of socialization for me. I'd say this isolation is hurting my mental health, sure, but WFH isn't the key. WFH has been a blessing honestly. Screw offices."  That post received 129 likes.  Many of the comments fell into three main categories:  Feeling the strain A Siemens employee wrote: "I think everyone is starting to feel the pinch. The sad thing is no one knows when this is going to end. That's the most frustrating part." (54 likes) A Yelp engineer employee wrote: "Yeah, it is. I feel like I might be developing PTSD from everything that's going on. I like having the *option* to WFH. I hate being *forced* to do so. Not being able to really go anywhere or do anything doesn't help, either. Add in the rest of 2020, and I'm just about ready to say f*** it and peace out for a year or so, except that's my mind writing checks my bank account literally can't cash." (14 likes) A Facebook employee wrote: "I just struggle being alone all day. Feel so down and lonely. (26 likes) An Amazon worker wrote: "Yes. I've had mental health issues in the past but it's definitely worse. The social aspect of going into work was more important than I realized." (11 likes) An Apple employee wrote: "I am much less productive working from home, and thus have to work longer hours, and most of my waking hours are focused on work. So there is no more work/life balance." (10 likes)  Loving remote work A tech operations worker at Lyft wrote: "I'm loving the WFH. I eat better cause I cook my own food, I can take my 1 HR nap on days I need it, don't need to do Starbucks run, I don't need to throw headphones on to avoid small talks while jamming, and I don't have to use public restroom. Productivity is exactly the same with less stress. So yeah, all good here." (18 likes) A Hulu worker wrote: "WFH is great. Shorter more intentional working hours. Not having to see people you don't want to see. Dealing with way less microaggressions. Can say mental health has gone up :) (14 likes) A worker at the self-driving car company  Aurora wrote: "I enjoy seeing my wife hrs everyday and helping her when she sees a spider." (17 likes) A Box worked noted a frequent theme among those enjoying remote work – not having to commute: "Nope, commute was killing my mental health far worse. Never want to go back to office." (18 likes) A Raytheon worker wrote: "Far more productive WFH. Never gave a sh** about what coworkers did last weekend or their sh***y kids. I come to work for work, not to make friends. Have enough of those and most coworkers are pretty boring. If you can't make friends and have a social life that doesn't involve coworkers, that's pretty telling. (14 likes) Liking remote work, but not COVID-19 A Salesforce engineer wrote: "For me, working from home is fine. It's the closing of all my social outlets (friends, gym, sports, etc.) that were typically my outlet that is getting to me." (13 likes) A Vodaphone employee wrote: "WFH is one of the best things. However the corona and the lockdown is the only thing driving us crazy. If last year was WFH, I would've worked from the beach, cafe, village, forest – anywhere any place. By the way, I commuted 3hrs each day to get to and from work :/. (13 likes) A Capital One developer wrote: "Is work from home hurting mental health or complete social distancing including outside of work hurting mental health? I think pre/post covid you'd get a very different answer. Work from home is awesome. Being trapped in your home without any social activities is not." (10 likes)  An Apple employee wrote: "Yes and no. It's hell with kids, but I've lost 16 pounds and am working out every morning. So if Covid doesn't kill me, it'll make me live longer." (13 likes) Experts say the shift to remote work has meant a significant adjustment. "Working in unusual environments can be stressful and distracting," Stanford psychology professor Jeff Hancock wrote in a recent report about stress and online communications. "Prior to the pandemic, people were used to operating in distinct spaces — home, work, social — and we had different ways of understanding the world in each space. The events of 2020 mean these spaces have blurred, and we've had to quickly learn new ways of operating."SEE ALSO: Remote work stress leads to costly email mistakes, data shows Join the conversation about this story » NOW WATCH: July 15 is Tax Day — here's what it's like to do your own taxes for the very first time
With the COVID-19 outbreak, the world is wrestling with several issues, which seem difficult to tackle.As malls and public places are shut down, traffic movement is cut down, people running out of secret stash, and restaurants are shuttered and can provide just pick-up and delivery services, it has made the situation gloomy.According to a data science team, 48,000 restaurants have revealed that the revenue from last year’s comparison is nearly 20% down.Let’s understand with an example.The nations that are hard hit by a deadly virus, they are lockdown to stop the virus spread as its transmitting rate is two folds than the flu-like SARS.Its impact is different in various countries, thus the retailers will be suffering accordingly.China, India, New Zealand, USA, and Canada have locked down the major cities to curb the spread.That’s where Starbucks like the food and beverage chain has transformed the brick-and-mortar store into a ‘go-to’ model to support the nationwide fight against corona.The independent restaurants are also moving to online food delivery options.The established players are beefing up the food delivery services to serve the customers safely.Read more: Launching an Online Grocery App/Store in Canada?Alas!
We asked some of the top fintech investors to recommend up-and-coming fintechs going direct to the consumer. Investors could nominate their own portfolio companies, as well as fintechs they haven't backed, with the caveat nominees couldn't have raised beyond a Series B round of funding. Investors' picks varied, but a central theme was personal finance, be it through automated saving, investing, or debt management. Here are the 22 up-and-coming consumer fintechs investors are watching. Visit Business Insider's homepage for more stories. Early stage investing is a risky market, especially when it comes to the startups going direct to the consumer, where customer acquisition is everything. But for all the risks the market poses, the rewards are high, too. Some of the biggest winners in the wake of the coronavirus have been fintechs addressing people's needs. Robinhood, which has seen massive growth as market volatility continues, is now valued at $8.3 billion after its most recent funding round in May. Meanwhile, other personal finance apps like Chime and Stash have also seen record sign-up numbers recently.  Read more: Here's how 44 insiders at powerful banks, buzzy startups, and big investors are thinking about financial innovation — and why the term 'fintech' may be on its last legs In an effort to keep track of the next big consumer fintech, Business Insider asked 27 fintech investors to pitch us on up-and-coming startups. While investors could nominate both their own portfolio companies and those they haven't backed, we set a fundraising limit of companies who had not raised more than a Series B.  While responses were wide-ranging, a major theme was a tech-forward spin on personal finance, be it through automated saving, investing, or paying down debt.  To be sure, Americans are paying more attention to their own finances, and are saving more amid the coronavirus pandemic. Though experts are unsure whether these new habits will stick. Here are the 22 up-and-coming fintechs going direct to consumers. See more: Investors say these 38 fintechs are the next generation of breakout B2B stars, following in the footsteps of Stripe and Plaid SEE ALSO: Investors say these 38 fintechs are the next generation of breakout B2B stars, following in the footsteps of Stripe and Plaid SEE ALSO: 4 top VCs explain why Stripe, Square, and Finix are going to be big winners in a post-COVID-19 world Albert Cited by: QED Investors (investor) Total raised: $72 million What it does: This California startup aims to be customers "smart friend," answering any money questions they may have. Albert has a team of "Geniuses" on hand, many of whom have various certifications, to answer questions about saving, investing, and borrowing.  Why it's hot in 2020: "Albert gives consumers insight into what is happening with their money including overdraft fees, recurring charges, budgeting, spending, and allows them automatic savings and offerings to optimize their financial situation. Albert has the wind at its back as it continues to expand offerings to become a staple in consumers lives," said Nigel Morris, QED Investors' cofounder and managing partner. Read more: Albert, a fintech that's raised $50 million from Alphabet, is going all-in on pay-what-you-choose subscriptions. Here's how it's looking to shake up the business of financial advice. BlockFi Cited by: Jump Capital, QED Investors Total raised: $108.7 million What it does: The New Jersey-based startup offers USD loans backed by crypto, allowing customers to borrow against their portfolio of cryptocurrencies. BlockFi also has crypto-based interest accounts, and crypto trading.  Why it's hot in 2020: "In a zero interest rate world, investors have flocked to BlockFi's offerings of up to 8.6% interest rates on stablecoin and crypto holdings. After reporting 20x growth in 2019, BlockFi has continued on a tear in 2020, launching commission free trading, and planning to launch a credit card with crypto-back rewards," said Peter Johnson, principal at Jump Capital.  "The company is scaling rapidly as the crypto space matures and individuals and institutions look to new technology and digital currencies to push the boundaries of traditional financial services. There is incredible white space for BlockFi to fill and we look forward to seeing their progress. " QED Investors' Morris said.    Brigit Cited by: DCM (investor) Total raised: More than $20 million What it does: Brigit is a subscription-based personal financial management app that offers budgeting tools, cash advances, and overdraft alerts. Why it's hot in 2020: "The large banks generated over $11 billion in overdraft fee revenues last year, with 84% of those fees generated from just 9% of account holders. Many of the workers impacted by COVID-19 or essential hourly workers are particularly vulnerable. Brigit's platform utilizes machine learning and predictive analytics to prevent customers from overdrafting, and advance exactly the right funds to the customer with no interest or hidden fees. Subscribers don't need to worry about overdrafting again," said DCM's Kyle Lui. Catch Cited by: DRW Venture Capital Total raised: $8.1 million What it does: This Boston-based startup caters to independent workers, helping them manage tax withholdings, health insurance and retirement savings. Users are able to customize benefits, with the necessary money automatically saved from any payment source.  Why it's hot in 2020: "Managing benefits, withholdings and payroll can become a costly distraction for these individuals as they are forced to utilize complex systems outside and away from the traditional employer model. Catch targets this set of entrepreneurs with a personalized, straightforward platform to help manage taxes, retirement, time off, insurance, and loan refinancing, all in one free app," said Kim Trautmann, head of DRW Venture Capital.   Clara Cited by: Two Sigma Ventures (investor) Total raised: $5.5 million What it does: Clara offers supplemental insurance that delivers quick cash payments for up to 76% of problems that might require immediate medical attention. The startup uses natural language processing and machine learning to analyze documents quickly to process claims efficiently.  Why it's hot in 2020: "Too many Americans, even those with healthcare, are one hospital visit or injury away from personal bankruptcy. There's now more than ever a need for a simple and clear supplemental insurance product that addresses this big financial risk that many American families face. Clara is building just that. Through modern actuarial science and robust data, Clara aims to provide employees and their families with fast financial compensation to help defray medical costs for up to 93% of the issues that could send them to the emergency room – at price points that make sense for a wide variety of families," said Colin Beirne, partner at Two Sigma Ventures.      Current Cited by: QED Investors (investor) Total raised: Over $50 million What it does: A New York-based challenger bank that looks to "meet the needs of people with unique lives who have been overlooked by the traditional banking industry." Features include no overdraft fees or minimum balance requirements and two-day advance on direct deposit paychecks.  Why it's hot in 2020: "Current rose to the challenge during the early days of the COVID crisis by giving members access to their stimulus checks up to two days sooner than traditional banks, stepping up when consumers needed it the most. They continue to serve this segment well with features including free overdrafts up to $100, access to 55,000 free ATMs worldwide as well as 24/7 member support 365 days a year. Plus, customers love them!" said QED Investors' Morris. DoNotPay Cited by: Activant Capital Total raised: $16.6 million What it does: DoNotPay is an app-based robot lawyer that helps users with everything from disputing parking tickets to cancelling subscriptions. Why it's hot in 2020: "While currently sitting in the legal-tech space, we see huge potential for companies like DoNotPay to expand into financial services by building out bill pay, savings, and credit functionality as they have a unique value proposition to the customer acting as a robot lawyer to save consumers money on bills and claims. Consumer fintech companies live and die on product and [customer acquisition cost], and by saving their customers money and a lot of time and hassle they have the ability to build trust with the consumer (something Honey's $4 billion acquisition by PayPal last year highlighted)," said Steve Sarracino, founder and partner at Activant Capital. Fund That Flip Cited by: Edison Partners (investor) Total raised: $13 million What it does: This New York startup offers funding for real-estate investors looking for capital for their next project. Fund That Flip streamlined the application process, with a 24-hour turnaround time.  Why it's hot in 2020: "We led their Series A last year and the naming is misleading because even at the time of investment, they were much, much further along than a typical Series A company. Speaks volumes about their capital efficiency, unit economics, and profitability profile," said Jennifer Lee, principal at Edison Partners. "Obviously real estate as a whole is going through some interesting shifts this year with COVID-19, but there are different impacts in commercial vs. residential, and to differing degrees in various markets in US," she added.     Fast Cited by: Index Partners (investor) Total raised: $22.5 million What it does: Fast is a one-click login and checkout startup. It stores users' payments credentials and integrates into e-commerce checkout windows, eliminating the need for guest checkout. Why it's hot in 2020: "Amazon has shown us the power of a seamless checkout experience, but for millions of merchants the experience is still painful. Fast is building a universal one-click login and payments experience to fix this," said Mark Goldberg, partner at Index Ventures.  Read more: One-click checkout startup Fast used this pitch deck to nab $20 million from investors like fintech giant Stripe. Here's a look at its vision for taking on Apple Pay. HMBradley Cited by: Commerce Ventures Total raised: $3.5 million What it does: This California-based challenger bank offers a variable interest rate based on how much the consumer saves. Customers who save 20% or more of their deposits during a quarter will be eligible for a 3% interest rate.  Why it's hot in 2020: "Many of today's at-scale neobank challengers are pursuing underserved consumers, where churn is often quite high and deposits and spend is modest. These customers are not typically the core target for top retail banks (hence why they are underserved). HMBradley is delivering a strong value proposition (both deposit and credit card) for mass market and mass affluent consumers — the customers retail banks covet most. As a result, HMBradley will be fundamentally more strategic to potential acquirers now and in the future," said Dan Rosen, general partner at Commerce Ventures.  Landed Cited by: Kleiner Perkins Total raised: Over $22 million in venture capital; over $50 million in private equity real-estate capital What it does:Landed helps educators buy homes in the communities they work. The California-based startup helps customers make a down payment via an equity investment in the house.  Why it's hot in 2020: "Teachers tend to be excellent homeowners. As a key participant in the community, they are often embedded in theirs for years. Landed noticed that teachers had unique underwriting characteristics and works to get them lower interest rates, and thus more accessibility to homeownership," said Monica Desai Weiss, an investor at Kleiner Perkins. M1 Finance Cited by: Clocktower Ventures (investor) Total raised: $53 million What it does: The Chicago-based startup offers investing, saving and lending products. Customers can choose to invest in one of over 80 portfolios or create their own.  Why it's hot in 2020: "Quarantine has shown us how powerful fully-digital financial services are. M1 pulls the best features from a number of already proven challengers in banking and brokerage and is building what we think will be the next great financial platform for self-directed mass affluent investors who want to take control of their own financial lives holistically. And it's also a beautiful product that goes with you everywhere on your phone," said Adriana Saman, associate at Clocktower Ventures.  Read more: Investing app M1 Finance just raised $33 million. We talked to its CEO on its plans to win over more sophisticated users from the likes of Schwab, E-Trade, and Fidelity. Mission Lane Cited by: QED Investors (investor) Total raised: $200 million What it does: Mission Lane is a credit card company that caters to customers trying to rebuild their credit, serving them via advanced data and analytics. Formerly a division of LendUp, it spun off as a standalone company in December 2018.   Why it's hot in 2020: "Misson Lane is a company we are extremely excited about. Near and subprime customers need to make the same decisions that prime customers need to make, but with fewer, more expensive options. Misson Lane serves this segment incredibly well with best-in-class, transparent products, with clear pricing and no hidden fees. The team is incredibly mission driven and the TAM is huge, propelling Misson Lane forward to be a leader in the space." QED's Morris said.  Mos Cited by: Financial Venture Studio Total raised: $17 million What it does: Mos streamlines the process of applying for financial aid for college, enabling customers to apply for $135 billion in government aid via one form. To date, Mos has helped customers receive over $200 million in aid.  Why it's hot in 2020: "Mos takes the information from the FAFSA process and helps consumers apply for thousands of other scholarships and sources of financial aid. It's a product that helps people begin to build their future while providing them the resources they deserve," said Ryan Falvey, managing partner at Financial Venture Studio. Papaya Cited by: Financial Venture Studio and Bessemer Venture Partners Total raised: $25 million What it does: This Los Angeles-based startup allow customers to pay any bill via their mobile phone. Users only need to take a picture of the bill.  Why it's hot in 2020: "It's a world class team that's been plugging away under the radar in LA, but we don't expect them to stay quiet for long," Financial Venture Studio's Falvey said. "It's a pretty magical customer experience, and they have quietly built one of the most exciting new consumer fintech products in awhile and have a clever business model to boot," said Charles Birnbaum, partner at Bessemer Venture Partners     Point Cited by: Index Ventures and Financial Venture Studio (investor) Total raised: $12.7 million What it does: A neobank with a debit card that earns points like a credit card. Point also has zero travel fees when used at Mastercard locations.  Why it's hot in 2020: "Point is breaking through the crowded field of neobanks with a product built for millennials — a debit card that acts like a credit card. As the name would suggest, they offer generous reward points towards useful services like Uber, Airbnb and Starbucks," Index Ventures' Goldberg said.  "There has been very little innovation in the core consumer checking account and, in turn, debit cards — even though they are one of the fastest-growing means of payment in the U.S.," Financial Venture Studio's Falvey said. "In Point, we saw a founding team that had a deep understanding of their target market, a mastery of design and product development, and a mission to help younger Americans spend smarter. The impact of COVID has only accelerated these trends, and as some of the team's earliest supporters, we can't wait to see what's next for this company."  Propel Cited by: Kleiner Perkins (investor) Total raised: $18 million What it does: The New York startup helps customers better manage food stamps. In addition to overseeing one's EBT balance, users can clip coupons and explore job posts.  Why it's hot in 2020: "Propel started out deeply addressing the need of checking your food stamp balance, and has since focused on serving more needs of the underserved financial services user. Often, their users were previously cut off from the traditional financial ecosystem, so the company emphasizes education.  Their recent initiative with GiveDirectly, #Project100, has been an incredible effort to take care of those underserved by our financial systems during recent turbulent times," Kleiner Perkins' Desai Weiss said.  Proper Cited by: Clocktower Ventures (investor) Total raised: $4.8 million What it does: Proper offers accounting and bookkeeping services for property managers and asset managers. Through the use of machine-learning techniques, the startup is able to analyze and handle properties' accounting needs.  Why it's hot in 2020: "Who's going to do a better job of assessing your property — the underfunded government entity or a tech-first, data-driven company? Proper helps everybody by more accurately valuing homes in a metro area, resolving inequity and building a great relationship with its customers," Clocktower Ventures' Saman said.  Public Cited by: DCM Total raised: $30 million What it does: Public, formerly named Matador, is an investing app with a social media spin. Why it's hot in 2020: "Think 'Venmo meets Robinhood.' Trading has never truly been a social activity, just like P2P payments was not 'social' until Venmo. Public has great social features for investors of all kinds able to share ideas, post trades, and follow influencer-investors on the app," DCM's Kyle Lui said. Read more: A fintech entering the crowded wealth management space just nabbed nearly $9 million in funding from the VCs that backed Venmo, Monzo and Acorns TradingView Cited by: Jump Capital (investor), DRW Ventures (investor) Total raised: $40.8 million What it does: TradingView is an active trading community that includes charts, analysis, and discussion. The startup has created over 25 million charts and includes an audience of nearly 10 million.  Why it's hot in 2020: "With the surge in retail trading, Tradingview's popularity has exploded, rocketing TradingView.com to be the 150th most popular website on the entire internet — significantly more popular than household names including CNBC.com and ESPN.com. With new brokerage integrations that allow trading directly on TradingView, their site is increasingly both the front page of the financial internet, and the execution dashboard for trading strategies," Jump Capital's Johnson said.  "Designed for retail investors, it's sophisticated enough that it's value-add for institutional investors, too and provides an exceptional user experience. This can be especially valuable to users across the spectrum in periods of high volatility when information is changing rapidly. When Yahoo Finance falls short, TradingView is a delight to discover," DRW's Trautmann said.  Worthy Financial Cited by: Edison Partners Total raised: $1.6 million What it does: Worthy Financial allows customers to invest in a socially responsible way. Worthy Bonds can be acquired for as low as $10 and earn a fixed 5% interest with the proceeds going to a secured loan for a US business.  Why it's hot in 2020: "Similar idea as Yieldstreet playing in the massive blue ocean of digital wealth management, but the idea is more for supporting 'worthy causes and ideas,' allowing people to invest in SMBs in the US. Investing in these SEC-qualified, asset-backed bonds provide individual investors with a good rate of return in investing in eachother, their community, and underserved areas," Edison Partners' Lee said.  Yieldstreet Cited by: Edison Partners (investor) Total raised: $178.5 million What it does: Yieldstreet offers access to alternative investments such as real estate and art. To date, $1 billion has been invested via the startup.  Why it's hot in 2020: "The team at Yieldstreet has built something here that continues to attract people and provide significant value even during these uncertain, volatile times, providing opportunities for diversification and smarter wealth management.  And even with where they are now at a sizable scale, so much more ahead that they can achieve beyond this year, with a world-class team that will continue to build a strong, big business with a massive TAM," Edison Partners' Lee said. 
Illustration by Alex Castro / The Verge Twitter’s advertising revenue was hit hard by the pandemic, and the company says that the “US civil unrest” in May and June also made matters worse. Advertising revenue declined 15 percent year-over-year in the final three weeks of June, Twitter said, as brands slowed or paused spending entirely. “Demand gradually improved once brands returned after the protests subsided,” Twitter said this morning in its Q2 2020 earnings report. Brands have been known to block ads from appearing near terms like “Black Lives Matter,” “George Floyd,” and “protest.” At the same time, several huge advertisers including Starbucks, Unilever, and Coca-Cola paused advertising across most social media platforms in June. The advertising pause was initially... Continue reading…
Jeff Bezos is worth more than Nike, McDonald's, and Costco. Amazon's stock surge has boosted its CEO's net worth to $186 billion, which exceeds the market capitalizations of Nike ($122 billion), McDonald's ($143 billion), and Costco ($145 billion). Bezos is also worth more than IBM, Starbucks, Target, and the vast majority of Nasdaq 100 and S&P 500 companies. Bezos' wealth outstrips the market capitalizations of 13 of the 30 constituent companies in the Dow Jones Industrial Average. Visit Business Insider's homepage for more stories. Jeff Bezos is personally worth more than some of the US' biggest companies, including Nike, McDonald's, and Costco. Amazon's stock price has surged 65% this year, boosting its founder and CEO's fortune to $186 billion as of Tuesday's close, according to the Bloomberg Billionaires Index. Bezos owns almost 55.5 million Amazon shares, giving him an 11.1% stake in the e-commerce giant. His Amazon stock accounts for the vast majority of his wealth. The world's wealthiest man is worth more on paper than Nike's entire $122 billion market capitalization. The sportswear titan made $39 billion in sales and had almost 77,000 employees and more than 1,100 retail stores worldwide last year.  Bezos's fortune also exceeds the $143 billion market cap of McDonald's. The fast-food giant generated $21 billion in sales last year and had 205,000 employees and 39,000 restaurants globally. The Amazon chief is also richer than the $145 billion market cap of Costco. The mega-retailer racked up $153 billion in revenue last year from its 99 million Costco cardholders, and employed 254,000 people. The comparison of Bezos' net worth to some of America's biggest companies was first made by Fortune. The spike in Amazon's stock price, and therefore Bezos' fortune, reflects the company's gains during the coronavirus pandemic. More people are shopping on its website, watching movies and TV shows on Prime Video, and relying on its AWS cloud platform while stuck at home, and investors are betting Amazon can retain many of those new customers. As a result, Bezos is also now worth more than Oracle ($176 billion market cap), Salesforce ($172 billion), and IBM ($112 billion). His wealth is more than double the market caps of Starbucks ($88 billion) and Goldman Sachs ($73 billion), and more than triple the market caps of General Electric ($62 billion) and Target ($60 billion). The Amazon boss is worth more than 13 of the Dow 30 companies, and more than 85% of the stocks in the Nasdaq 100 and S&P 500. Only 30 companies across the three indexes have a higher market cap than Bezos' net worth. Here's a chart showing how Bezos' fortune stacks up against some of the biggest US companies: Join the conversation about this story » NOW WATCH: What it's like inside North Korea's controversial restaurant chain
A group of nine companies aim to reach net zero carbon emissions by 2050.
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