CNBC - May 31 -In its IPO prospectus on Friday, health-tech company Doximity - founded in 2011, often described as the LinkedIn for doctors - said it's allocating up to 15% of shares in the offering for physicians through a "reserved share program." That means eligible doctors can get stock at the same price as the select group of institutional investors, who so often benefit from the IPO pop because they get an early allocation and don't have to wait for trading to begin.
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Health-tech Company Doximity Files for IPO and Says Doctors Will Get up to 15% Allocation
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Orbiit Raises $2.75M in Seed Funding
TECH CRUNCH - May 31 - Orbiit, a startup that automates the interactions within an online community, has raised a $2.7M round. The capital will be used to build out the Orbiit product and engineering team. Orbiit handles the communications, matching, scheduling, feedback collection, and analytics for people connecting in an online community. The idea is that the communities therefore learn and network better, engage more and share more knowledge.
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Veganzone: Social Media Platform Bags $3M to Help Plant-Based Users Connect
GREEN QUEEN - May 31 - Veganzone, a community-based platform for vegans and vegetarians, received its first round of financing, a $3M from Istanbul-based investment firm Focus Global Project. Veganzone was founded in New York in Feb 2021 by Selin Tuyen, Murat Aksu, and Ogous Chan Ali as a social media app for vegans and those interested in veganism and adopting a plant-based lifestyle to share their love for common values and socialize through various activities.
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Local Social Network Gapo Launches Working Platform for Businesses
VIETNAM PLUS - May 31 - After launching its local social network, Gapo has launched a free internal working and communication platform for businesses named GapoWork. GapoWork provides essential features for delivering a uniform, accurate, and rapid workflow on a single platform. Internal information will be secure thanks to the conversation encryption feature. Besides the free version, GapoWork would develop an advanced version with special features, including integrating apps like Zoom, Office 365, Google Suite, Trello; optimizations for the group model; creation of meetings; reviews for employees; as well as statistics and charts to serve enterprises.
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WhatsApp Will No Longer Limit Features if Users Don't Accept the Privacy Policy
MASHABLE - May 31 - WhatsApp confirmed all of its features will still be available - even if users don't accept the policy: "We currently have no plans to limit the functionality of how WhatsApp works for those who have not yet accepted the update. Instead, we will continue to remind users from time to time about the update as well as when people choose to use relevant optional features, like communicating with a business that is receiving support from Facebook."
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EU Moves Against TikTok Over Child-targeted Ads
DW - May 31 - The European Commission has given TikTok one month to respond to allegations it failed to protect children from aggressive advertising on its platform. The Commission said "hidden marketing, aggressive advertising techniques targeted at children, and certain contractual terms in TikTok's policies" were of "specific concern." It added that some terms in TikTok's "Terms of Service" could be considered misleading and confusing.
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Yalla: Unicorn or Just Empty Talk?
SEEKING ALPHA - May 28 - Yalla's shares are down more than 12% over the past week following a classic short-seller attack, even after the UAE-based company quickly refuted allegations of accounting tricks and announced a $150M share buyback. Yalla is founded in China, often likened to a Middle East version of Clubhouse. As the first UAE-based tech unicorn listed on the New York Stock Exchange, Yalla shares tapped Clubhouse fever to soar to a high of $41.35 in February, or 5.5 times its IPO price of $7.50 per ADS from last September. The wild gyrations have seen Yalla's stock tumble from pre-attack levels by nearly 20% before rebounding somewhat in the following days.
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LoopChat Exceeds 250K Users
MOBILE MARKETING MAGAZINE - May 28 - University student-focused social network, LoopChat has exceeded a quarter of a million users, with ~50K messages exchanged daily. The app was launched in 2020 by Jason Li, who, after accomplishing a successful startup exit whilst still in college himself, saw a major gap in the social media landscape as existing platforms did not address the unique needs of university students. The young startup recently received funding from serial entrepreneur and investment executive David Jiang.
by Gabby Fernie
See full at Mobile Marketing Magazine
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Lomotif to Host NFT Livestream Event Today Featuring Rob Prior
PR NEWSWIRE - May 28 - ZASH Global Media and Lomotif, the popular video-sharing and global social media platform announced a live NFT event featuring world-renowned Marvel & DC Comics Artist Rob Prior today at 5 PM ET Lomotif platform. Zash co-founder Ted Farnsworth will be featured as a keynote speaker about the future of the exploding NFT marketplace during the special event for crypto enthusiasts hosted by Mogul Productions. To watch the Lomotif NFT Livestream on the Lomotif platform, the global user base can download the Apple Store or Google Play app for Android.
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Twitter Under Fire, Koo Announces $30M Fundraise
INDIAN EXPRESS - May 27 - Marquee investors, including US-based Tiger Global, have backed the microblogging site's Indian alternative app Koo in a $30M fundraise to see Koo's valuation jump nearly five-fold to $100M. The announcement has come in the backdrop of Twitter India's new clash with the Indian government. The fresh round of funding will mainly strengthen engineering, product, and community efforts across all Indian languages at Koo.
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PCG Acquires TeachersConnect to Help Solve Teacher Shortage Crisis
PR NEWSWIRE - May 27 - Public Consulting Group LLC (PCG), a provider of solutions implementation and operations improvement services to the public sector, purchased the TeachersConnect and the Grab and Grow learning community from Great Teachers, Inc. The acquisition aligns with PCG's commitment to building sustainable pipelines of diverse talent to help overcome the teacher shortage affecting districts across the country. TeachersConnect was founded by a former teacher, David Meyers, in 2015 to provide a safe, educator-only social network.
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First Social Network With Voice Control: Marusia Is Now on the VK App
MARKET SCREENER - May 27 - VK has become the first social network to integrate a voice assistant added to its app. With Marusia, many VK services have become even more accessible and easy to use. The Marusia voice assistant will become one of the key unifying elements across the entire VK ecosystem. Marusia can be found in the Hub tab on the VK app. To start chatting with Marusia, a user has to click on the voice assistant icon. Over time, the variety of Marusia's skills will grow.
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Vimeo Stock Falls in Trading Debut
YAHOO FINANCE - May 26 - Vimeo CEO Anjali Sud is already back on the hunt for Vimeo's next acquisition while also plotting out new investments in the company. The listing comes on the heels of Vimeo posting 57% sales growth in the first quarter as companies continued to invest in professional video tools during the pandemic. First-quarter adjusted operating profits clocked in at $1.8M, marking the third straight quarter of being in the green for Vimeo. Shares fell as much as 16%. Vimeo's market cap stands at about $8B, above the $6B valuations afforded on an early Jan 2021 capital raise.
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Crasner Ventures Backs 'Worker-first' Social Network Umwuga for Its Second Investment
BUSINESS LEADER - May 26 - Crasner Ventures, the early-stage venture capital investor supporting businesses led by female founders and entrepreneurs from diverse backgrounds, announces its investment in Umwuga Ltd, an emerging markets-focused social network that connects workers and employers. Umwuga is Crasner Ventures' second portfolio company. Umwuga opens up employment opportunities to those often excluded by a recruitment industry and social networks designed predominately for white-collar workers. It also helps employers by giving them access, without paying agents, to candidates who have been recommended by people they trust.
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