IG - Sep 29 - A US-based IPO could be on the cards for TikTok. It doesn't currently have a set date, and the technicalities of the listing are being worked out. What we do know, is that the company will likely be listed in the US under the new name TikTok Global. This company will be majority owned by ByteDance (80%), and minority owned by both Oracle and Walmart (20%). But, this ownership stake has not yet been confirmed as the US firms are reportedly requesting a larger share of the company. The most recent valuation for TikTok was ~$50B back in July 2020.
TikTok Global IPO
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TikTok Welcomes Preliminary Injunction Against Trump Administration's Ban
ECNS - Sep 29 - The preliminary injunction was issued by a federal judge on Sunday night against a U.S. administration's order to ban TikTok from American online app stores. However, Sunday's ruling could be challenged by the government. The Justice Department is likely to appeal. Trump and some U.S. politicians have repeatedly speculated that TikTok poses a national security threat to the country, though providing no evidence to support the allegations.
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Telepath Is a Buzzy New Social Network
THE VERGE - Sep 28 - Richard Henry and Marc Bodnick, the duo who previously worked together at the question-and-answer community Quora, have started Telepath, a new app for discussing interests. The app, which is available only in private beta and requires an invitation to use, resembles a hybrid of Twitter and Reddit. As on Twitter, the app opens to a central scrolling feed of updates from people and topics that users follow. And as on Reddit, every post must be created within a group, which Telepath calls a "network." Telepath requires users to use their real names, and it requires the use of a real mobile number as well.
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ShareChat Raises $40M
OUTLOOK INDIA - Sep 24 - Indian social networking platform ShareChat has raised $40M. The company, which has raised $264M in funding till date including this round, did not disclose the valuation at which the latest funds were raised. ShareChat CEO and co-founder Ankush Sachdeva said: "Our short-video platform Moj has been on an explosive growth trajectory since its launch. This funding will help us further invest in our product development." Moj debuted on Play Store on July 1, two days after the Indian government had banned 59 apps with Chinese linkages, including TikTok. Homegrown apps like Roposo, Chingari and Josh (Dailyhunt) have also seen significant growth in downloads and user signups. ShareChat and Moj together have ~240M MAUs (monthly active users).
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China Says It Won't Approve TikTok Sale, Calls It 'Extortion'
TECH CRUNCH - Sep 24 - The September 20 deadline for a TikTok sale has already passed, but the parties involved have yet to settle terms on the deal. Oracle and Walmart presented conflicting messages on the future ownership of the app, confusing investors and users. Meanwhile, Beijing's discontent with the TikTok sale is increasingly obvious. China has no reason to approve the "dirty" and "unfair" deal that allows Oracle and Walmart to effectively take over TikTok based on "bullying and extortion," slammed an editorial published in China Daily. The editorial argued that TikTok's success has apparently made Washington feel uneasy and prompted the U.S. to use national security as the pretext to ban the app. Beijing has already modified a set of export rules to complicate the potential TikTok deal, restricting the sale of certain AI-technologies to foreign companies.
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Yalla Group Sets Terms for $149 Million US IPO
NASDAQ - Sep 24 - Yalla Group, which provides a voice-centric social networking and entertainment platform in the Middle East and North Africa region, has announced terms for its IPO. The Dubai company plans to raise $149M by offering 18.6M ADSs at a price range of $7 to $9. Insider Orchid Asia intends to purchase $30M worth of ADSs in the offering. Yalla had ~12.5M monthly user visits and 5.4M paying users in the 2Q20. On average, its active users spent ~4.5 hours in its live voice chat rooms and 1.4 hours playing casual games. Yalla Group was founded in 2016 and booked $90M in revenue for the 12 months ended June 30, 2020.
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Instagram's TikTok Clone Reels Updates to Allow Longer Videos
TECH CRUNCH - Sep 24 - Instagram is today rolling out a few changes to Reels, after early reviews criticized its design and reports indicated it was failing to gain traction. The company says it's responding to user feedback on a few fronts, by giving Reels users the ability to create longer videos, extend the timer, and by adding tools to trim and delete clips for easier editing. TikTok's default is 15-second video but it allows videos up to a minute in length, which is a popular option. Reels will allow videos up to 30 seconds long. This could force users to create original content for Reels, instead of repurposing their longer TikTok videos on Instagram.
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Meetsy Helps to Create More Face to Face Interactions
GLOBE NEWSWIRE - Sep 23 - Sophomores at USC and UC Berkeley, Daniel Hanasab and Sean Toobi, have developed an app called Meetsy that is changing the way we initiate face-to-face conversations. In just a couple of months, Daniel and Sean have taken the start-up world by storm with tons of venture capital attention, Meetsy is now an incubated company through the University of Southern California's affiliated Troy Labs, with many venture-backed start-up founders as mentors. According to its founders, Meetsy is the first "head-up" social network platform where quality in-person conversation is king, not screen-time. The app notifies users in real-time of people with commonalities in the same room, allowing them to skip the swipes and make meaningful relationships. Users can choose to get notified when someone in the room shares certain qualities. Then, users "Wave" at potential friends that share similarities and proceed to jump right into face-to-face conversation.
See full article at Globe Newswire
This post also appears on OnlinePersonalsWatch
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Chingari Crosses 30 Million Downloads, Launches New AR Filters
HINDUSTAN TIMES - Sep 22 - Chingari says it has now ~30M organic users. The app reached the milestone in three months of its launch. The company has also launched new AR filters for creators and users. Chingari had grown in popularity in India following the ban on TikTok. The app had gained ~3.5M downloads in just 24 hours of the ban on TikTok. Apart from Chingari, many new home-grown social networking platforms such as Riposo, Rizzle, Moj, and Trell have emerged.
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AR Tech Expected to Be Used on Social Media by 44M US Users
DIGITAL INFORMATION WORLD - Sep 22 - It was predicted long ago that Augmented Reality would take over sooner or later. On social networking platforms, AR has been enjoying a pretty successful 2020 so far. As per eMarketer's March 2020 forecast, ~43.7M social networking users in the US alone will be using AR by the end of this year.
by Ali Siddiqui
See full article at Digital Information World
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Braindate Is a Tinder for Thinkers
MARIE CLAIRE - Sep 18 - Braindate is a matchmaking app for professionals used at conferences to help people connect. Users can choose between two types of Braindate: a 30-minute one-on-one or a 45-minute group session involving up to four people. The app was launched by a Canadian tech company called e180 in 2013. Rather than existing as a stand-alone app that people need to download, Braindate is integrated into the main event's app. Since 2017, it has been used at ~200 events across Australia, Europe, the Middle East and North America.
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The Meet Group Launches Face Verification
BUSINESSWIRE - Sep 21 - The Meet Group rolls out AI-powered face verification using FaceTec's 3D selfie technology, a human liveness check. Verification badges roll out to MeetMe member profiles this week, then Skout and Tagged within months. FaceTec's AI software confirms the user is physically present in front of the camera. As badge adoption increases, it will become a prerequisite for certain activities like sending photos in chat. Additionally, FaceTec's AI provides a 3D age estimation.
"At the beginning of this year, I set forth our commitment to safer dating in 2020, addressing key issues affecting dating apps everywhere: Authenticity, Age Estimation, Device Blocking, and Textual Screening," said Geoff Cook, CEO of The Meet Group. "With the launch of the Profile Verification Badge on MeetMe, we are...helping to ensure authenticity and end catfishing."
Other initiatives include using URSafe so members can stay connected in an emergency, collaborating with Microsoft on Project Artemis which uses common textual patterns and an age detection engine to prevent child exploitation, the introduction of a Safer Dating Advisory Board of epidemiologists and infectious disease experts to provide advice aimed at reducing the risk of contagion while dating, and implementing DeviceCheck to block bad actors' devices. See TMG's safety overview.
See full article at Businesswire
This post also appears on OnlinePersonalsWatch
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What Are Your Productivity Hacks?
VSN - Sep 21 - We are in slightly crazy times and most of you have had to quickly disburse your offices to the work-at-home wind. How's that gone for you? What have you learned? What, may I ask, are the tips, tools, and techniques that have most improved your productivity? How have you helped keep your team on point, motivated to the cause, and communicating effectively? Please send an email to mark@courtlandbrooks.com with your thoughts.
I'll review and include the top ideas from the dating and online social community industries in our next IDEA Webinar, which will be on Friday 2nd October at 11am EST. You can sign up early here. Free, but limited to 100 places.
IDEA Webinar kindly sponsored by RealMe and vPaaS by The Meet Group.
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Trump Agrees to TikTok Deal With Oracle and Walmart
CNBC - Sep 21 - Trump has given his blessing to a deal in which Oracle and Walmart would partner with TikTok in the U.S. Oracle will become TikTok's cloud provider and a minority investor with a 12.5% stake. Walmart has agreed to a purchase 7.5% stake, and CEO Doug McMillon would serve as one of the five board members of the newly created company. TikTok's Chinese parent company ByteDance will own the remaining 80% of TikTok.
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TikTok Will Be Sold to Oracle Without Its Algorithm
GRIT DAILY - Sep 17 - Oracle will be purchasing TikTok after ByteDance rejected Microsoft's previous bid. The company, however, will not be selling its popular algorithm to Oracle as part of the reported deal. No details about the sale price have been revealed thus far, and the Associated Press even revealed that Oracle is not calling the acquisition a sale, signaling that it could mean that the company will instead operate as a U.S. partner with ByteDance. The entire acquisition depends on approval from Trump.
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