Hello Everyone, In today’s newsletter I will be talking about Netflix is going into Gaming and the Apple pay later option is coming.
Last but not least Amazon is going into space and Facebook is giving money to creators so that they produce more content and you stick to their platform and also Bumble is going into Food because the way to a man’s heart is through his stomach (just joking).
I Hope you also stick with me till the end of the newsletter. So much Stickiness.
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1. Amazon bought Facebook’s satellite team to help build its Starlink competitor
The small-satellite business of Facebook was acquired by Amazon. As part of an effort to build the next generation of broadband infrastructure, Facebook has been developing and testing ways to advance satellite connectivity.
The company had no plans to become a service provider. In a bid to compete with SpaceX’s satellite constellation Starlink, Amazon plans to launch low-Earth orbit satellites.
In total, it has permission to launch 3,236 low-Earth-orbit satellites. The satellites are expected to be launched in 2023 at the earliest.
With its satellite division sold off, Facebook said today it will continue working with satellite operators to expand connectivity over Wi-Fi. Facebook also announced a collaboration with Eutelsat on an Africa project.
Facebook said it is involved in other collaborations such as the Telecom Infra Project and that “we believe these infrastructure investments will have a positive impact for the satellite industry, particularly as they work to expand connectivity to rural, hard-to-reach-areas.”
2. Netflix will start publishing video games, has hired former EA exec
An executive from EA and Oculus was hired to lead Netflix’s game publishing team.
There is no confirmation of what kind of video game service Netflix is creating, but it is likely to include video games in the near future.
The streaming service has created a collection of exclusive TV series based on licensed video games. Subscription gaming services based on cloud technology are on the rise.
3. FB, Instagram will invest over $1bn on content creators
As it seeks to compete with platforms like TikTok and YouTube for top social media personalities, Facebook said it plans to invest over $1bn in supporting content creators through 2022.
In addition to bonuses, Facebook said it would fund creatives who hit certain milestones on its apps, including the photo-sharing app Instagram, as well as pay creators for creating original content.
What’s the big picture: As the creator economy increases, reports indicate Facebook is having a difficult time competing with rivals like YouTube and TikTok when it comes to encouraging creators to use its platform.
4. Bumble is opening a restaurant to go along with their dating app
As part of Bumble’s expansion plans in New York City, it is opening a restaurant and cafe called Bumble Brew. During the daytime, the venue will be a cafe; at night, it will be a restaurant and wine bar.
On July 24, the restaurant will open for breakfast with plans to expand its hours later in the summer.
Bumble Hive pop-up spaces, which the company used in 2017, were the inspiration for the restaurant.
The restaurant will also offer pickup and delivery options.
A menu inspired by Italian cuisine will be offered. In addition to scheduling programming at the facility, Bumble intends to host events.
5. Instacart hires Facebook executive as new CEO ahead of expected IPO**
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Fidji Simo, formerly of Facebook, has been named the new CEO of Instacart. Simo joined the board of directors of Instacart seven months ago.
The former vice-president and head of Facebook’s app used to be her role. Simo is a co-founder of Women in Product, a nonprofit organization that helps women gain experience in product management.
She will likely transform the way Instacart does business with her appointment as CEO.
6. Apple developing new ‘Apple Pay Later’ service to let customers buy any Apple Pay purchases in monthly installments
Apple will offer a new service in the near future called Apple Pay Later which will give users the option of paying for products in monthly installments.
The payment system will be integrated directly into Apple Pay. This service will be offered through a partnership between Apple and Goldman Sachs.
Regulatory bodies are likely to monitor the implementation.
The reports indicate customers will have to apply and be approved, through an application process in the Wallet app. Bloomberg says interest-free and interest-accumulating plans will be available:
The service is currently planned to work as follows: When a user makes a purchase via Apple Pay on their Apple device, they will have the option to pay for it either across four interest-free payments made every two weeks, or across several months with interest, one of the people said. The plan with four payments is called “Apple Pay in 4” internally, while the longer-term payment plans are dubbed “Apple Pay Monthly Installments.
Apple Pay is currently being investigated by the European Commission for allegedly unfairly gaining an advantage over rival contactless payment systems on iPhones.
That’s it from me for today.
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