Hello friends, and welcome back to Week in Review!

Last week, I talked about Clubhouse’s slowing user growth. Well, this week news broke that they had been in talks with Twitter for a $4 billion acquisition, so it looks like they’re still pretty desirable. This week, I’m talking about a story I published a couple days ago that highlights pretty much everything that’s wild about the alternative asset world right now.

If you’re reading this on the TechCrunch site, you can get this in your inbox from the newsletter page, and follow my tweets @lucasmtny.

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The big thing

If you successfully avoided all mentions of NFTs until now, I congratulate you, because it certainly does seem like the broader NFT market is seeing some major pullback after a very frothy February and March. You’ll still be seeing plenty of late-to-the-game C-list celebrities debuting NFT art in the coming weeks, but a more sober pullback in prices will probably give some of the NFT platforms that are serious about longevity a better chance to focus on the future and find out how they truly matter.

I spent the last couple weeks, chatting with a bunch of people in one particular community — one of the oldest active NFT communities on the web called CryptoPunks. It’s a platform with 10,000 unique 24×24 pixel portraits and they trade at truly wild prices.

This picture sold for a $1.05 million.

I talked to a dozen or so people (including the guy who sold that one ^^) that had spent between tens of thousands and millions of dollars on these pixelated portraits, my goal being to tap into the psyche of what the hell is happening here. The takeaway is that these folks don’t see these assets as any more non-sensical than what’s going on in more traditional “old world” markets like public stock exchanges.

A telling quote from my reporting:

“Obviously this is a very speculative market… but it’s almost more honest than the stock market,” user Max Orgeldinger tells TechCrunch. “Kudos to Elon Musk — and I’m a big Tesla fan — but there are no fundamentals that support that stock price. It’s the same when you look at GameStop. With the whole NFT community, it’s almost more honest because nobody’s getting tricked into thinking there’s some very complicated math that no one can figure out. This is just people making up prices and if you want to pay it, that’s the price and if you don’t want to pay it, that’s not the price.”

Shortly after I published my piece, Christie’s announced that they were auctioning off nine of the CryptoPunks in an auction likely to fetch at least $10 million at current prices. The market surged in the aftermath and many millions worth of volume quickly moved through the marketplace minting more NFT millionaires.

Is this all just absolutely nuts? Sure.

Is it also a poignant picture of where alternative asset investing is at in 2021? You bet.

Read the full thing.

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Other things

Here are the TechCrunch news stories that especially caught my eye this week:

Amazon workers vote down union organization attempt
Amazon is breathing a sigh of relief after workers at their Bessemer, Alabama warehouse opted out of joining a union, lending a crushing defeat to labor activists who hoped that the high-profile moment would lead more Amazon workers to organize. The vote has been challenged, but the margin of victory seems fairly decisive.

Supreme court sides with Google in Oracle case
If any singular event impacted the web the most this week, it was the Supreme Court siding with Google in a very controversial lawsuit by Oracle that could’ve fundamentally shifted the future of software development.

Coinbase is making waves
The Coinbase direct listing is just around the corner and they’re showing off some of their financials. Turns out crypto has been kind of hot lately and they’re raking in the dough, with revenue of $1.8 billion this past quarter.

Apple share more about the future of user tracking
Apple is about to upend the ad-tracking market and they published some more details on what exactly their App Tracking Transparency feature is going to look like. Hint: more user control.

Consumers are spending lots of time in apps
A new report from mobile analytics firm App Annie suggests that we’re dumping more of our time into smartphone apps, with the average users spending 4.2 hours a day doing so, a 30 percent increase over two years.

Sonos perfects the bluetooth speaker
I’m a bit of an audio lover, which made my colleague Darrell’s review of the new Sonos Roam bluetooth speaker a must-read for me. He’s pretty psyched about it, even though it comes in at the higher-end of pricing for these devices, still I’m looking forward to hearing one with my own ears.

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Extra things

Some of my favorite reads from our Extra Crunch subscription service this week:
The StockX EC-1
“StockX is a unique company at the nexus of two radical transitions that isn’t just redefining markets, but our culture as well. E-commerce upended markets, diminishing the physical experience by intermediating and aggregating buyers and sellers through digital platforms. At the same time, the internet created rapid new communication channels, allowing euphoria and desire to ricochet across society in a matter of seconds. In a world of plenty, some things are rare, and the hype around that rarity has never been greater. Together, these two trends demanded a stock market of hype, an opportunity that StockX has aggressively pursued.”

Building the right team for a billion-dollar startup
“I would really encourage you to take some time to think about what kind of company you want to make first before you go out and start interviewing people. So that really is going to be about understanding and defining your culture. And then the second thing I’d be thinking about when you’re scaling from, you know, five people up to, you know, 50 and beyond is that managers really are the key to your success as a company. It’s hard to overstate how important managers, great managers, are to the success of your company.

So you want to raise a Series A
“More companies will raise seed rounds than Series A rounds, simply due to the fact that many startups fail, and venture only makes sense for a small fraction of businesses out there. Every check is a new cycle of convincing and proving that you, as a startup, will have venture-scale returns. Moore explained that startups looking to move to their next round need to explain to investors why now is their moment.”

Until next week,
Lucas M.

And again, if you’re reading this on the TechCrunch site, you can get this in your inbox from the newsletter page, and follow my tweets @lucasmtny.

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Welcome back to The TechCrunch Exchange, a weekly startups-and-markets newsletter. It’s broadly based on the daily column that appears on Extra Crunch, but free, and made for your weekend reading. 

Ready? Let’s talk money, startups and spicy IPO rumors.

The startup world could be in for a busy summer.

Today the economy is improving. Unemployment is falling, while interest rates are staying low. There’s lots of new capital on offer, and some expectation that we’ll get back to Q1’s IPO wave in Q3. Throw in widespread vaccinations and a return to something akin to our old lives, and the world of business could be ready to accelerate further in short order. 

There are caveats, of course. Lots of folks are being left behind in the recovery. And vaccine hesitancy is as lethally stupid as it is surprisingly common. But anticipated summer economic conditions, strong markets and a general belief that the digital transformation’s acceleration will continue point to a coming hot(ter) period for tech. 

That is good news for startups.

We’re already starting to see anticipatory reporting on the matter. Wired’s recent piece on venture capitalists telling startups to invest rapidly is worth reading. I’ll back it up by saying that it seems that most startups that I am chatting with every week had a solid-as-heck first quarter and aren’t worried about the second. If I am not accidentally speaking with only founders who are doing well and somehow missing legion startups that are struggling, it seems to be a pretty darn good time to build a tech company. 

Plaid’s round from earlier this week underscores what I’m talking about. The API-powered consumer fintech company’s CEO Zach Perret told TechCrunch how much the digitization of the world of financial services had accelerated in the last year. Yep. Startups that would have done well in more normal times are often seeing their market move in their direction. Often rapidly. That’s why Plaid is worth north of $13 billion today, nearly triple what it was worth in early 2020.

For the startups doing well, there’s ample cash on offer. Ramp’s latest round, a two-in-one, makes that point plain. So, if the broader economy and its technological sector do accelerate, expect wallets to open even further. As the temperature heats up, so too could the business climate.

I mean, how else can you explain the Clubhouse news? Or the Topps news? TechCrunch had to cover the middle ground between baseball cards, NFTs and candy, for the love of all that is holy.

Next week The Exchange is digging into Q1 2021 venture capital numbers from around the world. We’ll see soon enough how big the start to the year was, but we have a guess.

Kudo, Coinbase and Canva

Sticking to our theme of growth and a hot and warming climate for tech startups, a few more data points from the last week.

I caught up with the CEO of Kudo this week, a few days after his company announced a $21 million Series A round of funding. I covered the translation-as-a-service company last year when it raised a seed round. Per its chief executive Fardad Zabetian, the company had 14 employees last March. It now has 150 and has more than 50 open positions. That’s not the sort of growth you see off of merely a few capital raises. That’s growth. 

Coinbase’s monster quarter highlights how some technology work from the past decade is maturing in a lucrative manner. The company’s epic revenue growth and nearly hilarious profitability are going to make its impending direct listing an even bigger event than I had expected. Get ready for that on the 14th. (More from the original Coinbase listing here.)

And then there’s Canva, which just repriced itself through a $71 million secondary transaction. The cloud design company is now worth $15 billion, up from around $6 billion last June, per Crunchbase data. Even more, the company announced a few growth metrics worth sharing:

• That Canva has crossed the $500 million annualized revenue mark 
• That Canva grew 130% in the last year, and was profitable (though we don’t know of what sort)
• That Canva now has 55 million monthly active users

And it’s not going public. Yes, you can laugh. I got the company to ask its CEO Melanie Perkins why that’s the case, and here’s what we got back:

There’s no rush for us. We’re profitable and we’re very fortunate that we can still find investors that align to our vision and values. I often say that we’re just one percent of the way there with Canva. We have a huge vision to empower every team to achieve its goals through visual communication. We’ve still got a whole lot more to achieve and so no immediate plans for any public listing- there’s simply no rush for us right now.

Let me just say that you don’t only have to go public when there’s a rush to do so! You can do so merely to make us, the reporting class, excited about going to work, as there are new numbers to read!

Various and sundry

I was off for a bit of this week to recharge, so some news and notes you might have expected in the above missive may be missing. Rest assured that The Exchange is going to get bigger and better and more number-y and full of jokes when I get back. Someone is joining the little team, so we have big plans.

Hugs, 

Alex

 

“Most of the startups I give advice to about how to raise venture capital shouldn’t be raising venture capital,” an investor recently told me. While the idea that every startup isn’t venture-backable might run counter to the narrative to the barrage of funding news each week, I think it’s important to double click on the topic. Plus, it keeps coming up, off the record, on phone calls with investors!

As venture grows as an asset class, the access to capital has broadened from a dollar perspective, but I do think the difficulties that remain is an important dynamic to call out (and something no one talks about during an upmarket). Beyond the fact that only a small subset of startups truly can pull off scaling to the point of venture-level returns, it is still hard for even qualified founders to raise venture capital. Venture capital is still a heavily white, male-led industry, and as a result contains bias that disproportionately limits access for underrepresented founders.

• So, you want to raise a Series A
• Understanding how fundraising terms can affect early-stage startups
• Four strategies for getting attention from investors
• Investors discuss alt-financing and the role of venture capital
• Building the right team for a billion-dollar startup

Eniac founding partner Hadley Harris applied this dynamic to the current market boom in a recent tweet: A lot of people are misunderstanding this VC funding market. More money is flowing into the market but the increase is not evenly distributed. The market believes winners can be much bigger but not necessary that there will be more winners. It’s still very hard for most to raise a VC.

To say otherwise is to gaslight the early-stage or first-time founders that have spent months and months trying to raise their first institutional dollars and failed. So ask yourself: Seed rounds have indeed grown bigger, but for who? What comes at the cost of the $30 million seed round? Are the founders that can raise overnight from diverse backgrounds? Are investors backing first-time founders as much as they are backing second- or third-time entrepreneurs?

The answers might leave you debating about the boundaries, and limitations, of the upcoming hot-deal summer.

A few weeks ago, I wrote about the disconnect between due diligence and fundraising right now. Now we’ve moved onto the disconnect, and bifurcation, within first-check fundraising itself. There is so much more we can get into about the fallacy of “democratization” in venture capital, from who gets to start a rolling fund to the lack of assurance within equity crowdfunding campaigns.

We’ll get through it all together, and in the meantime make sure to follow me on Twitter @nmasc_ for more hot takes throughout the week.

In the rest of this newsletter, we will talk about fintech politics, the Affirm model with a twist, and sneakers-as-a-service.

Ex-Coinbase talks politics

The inimitable Mary Ann Azevedo has been dominating the fintech beat for us, covering everything from the latest Uruguayan unicorn to Acorn’s scoop of a debt management startup. But the story I want to focus on this week is her interview with ex-Coinbase counsel & former Treasury official, Brian Brooks.

Here’s what to know: Coinbase CEO Brian Armstrong notoriously released a memo last year denouncing political activism at work, calling it a distraction. In this exclusive interview, Brooks spoke about how blockchain is the answer to financial inclusion, and argued why politics needs to be taken out of tech.

We don’t want bank CEOs making those decisions for us as a society, in terms of who they choose to lend money to, or not. We need to take the politics out of tech. All of us do a lot of different things, and we have no idea on a given day, whether what we’re doing is popular with our neighbors or popular with our bank president or not. I don’t want the fact that I sometimes feel Republican to be a reason why my local bank president can deny me a mortgage.

• Coinbase’s monster Q1 in context
• Crypto trading on Robinhood spiked to 9.5M customers in first quarter
• The Cult of CryptoPunks

The Affirm for X model

While Affirm may have popularized the “buy now, pay later” model, the consumer-friendly business strategy still has room to be niched down into specific subsectors. I ran into one such startup when covering Plaid’s inaugural cohort of startups in its accelerator program.

Here’s what to know: Walnut is a new seed-stage startup that is a point-of-sale loan company with a healthcare twist. Unlike Affirm, it doesn’t make money off of fees charged to consumers.

• Walnut wants to crack open flexibility for healthcare bills
• Inside Affirm’s IPO filing: A look at its economics, profits and revenue concentration
• As BNPL startups raise, a look at Klarna, Affirm and Afterpay earnings

Everything you could ever want to know about StockX

In our latest EC-1, reporter Rae Witte has covered a startup that leads one of the most complex and culturally relevant marketplaces in the world: sneakers.

Here’s what to know: StockX, in her words, has built a stock market of hype, and her series goes into its origin story, authentication processes and a market map.

• How StockX became the stock market of hype
• Authentication and StockX’s global arms race against fraudsters
• Where StockX fits in the business of sneakers
• The consequences of scaling up sneaker culture

Around TechCrunch

Found, a new podcast joining the TechCrunch network, has officially launched! The Equity team got a behind-the-scenes look at what triggered the new podcast, the first guests and goals of the show. Make sure to tune into the first episode.

Also, if you run into any paywalls while browsing today’s newsletter, make sure to use discount code STARTUPSWEEKLY to get 25% off an annual or two-year Extra Crunch subscription.

Across the week

Seen on TechCrunch

Okta launches a new free developer plan

New Jersey announces $10M seed fund aimed at Black and Latinx founders

Education nonprofit Edraak ignored a student data leak for two months

6 VCs talk the future of Austin’s exploding startup ecosystem

Dear Sophie: Help! My H-1B wasn’t chosen!

Seen on Extra Crunch

5 machine learning essentials nontechnical leaders need to understand

How we dodged risks and raised millions for our open-source machine language startup

Giving EV batteries a second life for sustainability and profit

And that’s a wrap! Thanks for making it this far, and now I dare you to go make the most out of the rest of your day. And by make the most, I mean listen to Taylor’s Version.

Warmly,

N

Welcome back to This Week in Apps, the weekly TechCrunch series that recaps the latest in mobile OS news, mobile applications and the overall app economy.

The app industry is as hot as ever, with a record 218 billion downloads and $143 billion in global consumer spend in 2020.

Consumers last year also spent 3.5 trillion minutes using apps on Android devices alone. And in the U.S., app usage surged ahead of the time spent watching live TV. Currently, the average American watches 3.7 hours of live TV per day, but now spends four hours per day on their mobile devices.

Apps aren’t just a way to pass idle hours — they’re also a big business. In 2019, mobile-first companies had a combined $544 billion valuation, 6.5x higher than those without a mobile focus. In 2020, investors poured $73 billion in capital into mobile companies — a figure that’s up 27% year-over-year.

This Week in Apps will soon be a newsletter! Sign up here: techcrunch.com/newsletters

This week we’re looking into the upcoming Apple lawsuit with Epic Games over App Store fees, the soon-to-launch game changer that is App Tracking Transparency and Facebook’s latest attempt to take on Clubhouse, among other things.

Top Stories

Epic vs Apple trial nears

The Epic Games versus Apple trial is nearing launch. The trial, which begins May 3 and is expected to drag on for weeks, will see the Fortnite maker attempting to argue that Apple’s control over the App Store — and the 30% commission it requires on in-app purchases — represents anti-competitive behavior from a monopoly that requires regulation under antitrust law. Apple, meanwhile, feels confident that it can demonstrate its not a monopoly as it faces competition across the market, not just in its App Store. It will also likely point to the commission decreases it recently made in the wake of the increased regulatory scrutiny. Apple now takes a smaller 15% cut from developers making less than $1 million in revenues.

New filings this week detail Epic’s long-term program “Project Liberty,” which describes how Epic planned its antitrust battle by forcing app stores to reject Fortnite for circumventing their payment mechanisms. A filing from Epic also references comments by Apple’s senior vice president of Internet Software and Services Eddie Cue, senior vice president of software engineering Craig Federighi and Apple Fellow Phil Schiller that talk about how Apple locks users into its ecosystem with its services, including iMessage. Epic also argues that Apple uses security as a “pretext” for its commissions — even as a recent series of allegations (and threat of a lawsuit) from app developer Kosta Eleftheriou have demonstrated that Apple’s vetting process is failing to stop massive scams. Epic also says that allowing Apple to serve customers’ refund requests leads to fraud because it doesn’t have the same visibility into the developer’s content that the developer itself does.

Apple shares more ATT details

With the public release of iOS 14.5, which is expected soon, Apple will be shaking up the app economy with the launch of its App Tracking Transparency framework, or ATT. This requires iOS apps to begin prompting users for permission to track their users’ activity, instead of just quietly doing so — generally without the user’s informed consent. Apple has said developers can explain in this prompt why they’re asking for this permission — for example, because they want to serve more personalized ads, perhaps. Tech giants like Facebook and Google, as well as many other ad-supported apps (and particularly social media apps), will be impacted by the change. Some have even gone so far as to try to find workarounds using non-IDFA methods, it’s been reported (IDFA being the current system that assigns a unique advertising ID to each device that is then tracked across the apps and websites a user visits). It was revealed last week that Snapchat had investigated an IDFA alternative known as probabilistic matching, but claims it was just a “test.” Meanwhile, China’s largest tech companies — including Baidu, Tencent and ByteDance — have been exploring a state-backed IDFA alternative CAID.

This week, Apple made it clear that “no tracking” without permission means just that. It says that if a user opts out of any IDFA-tracking via the pop-up, that means the developer doesn’t have permission to track using any other sort of identifiers either — like hashed email addresses or whatever other workaround developers come up with.

Facebook tries another Clubhouse rival

Facebook’s internal R&D group, NPE Team, this week launched its latest experiment, Hotline, into public beta testing. The web-based application could be described as a mashup of Instagram Live and Clubhouse, as it allows creators to speak to an audience who can then ask questions through either text or audio. However, unlike Clubhouse, creators can opt to turn their cameras on for the event, instead of being audio-only. Currently, users sign in with Twitter and then verify their phone number to authenticate with the app. They can then type in their question to submit it to the speaker, who pulls them “on stage” to discuss. For now, the participants were audio-only and represented by a profile icon, but settings suggest that Hotline will test video for users in the future.

As the questions are asked, users can react with emoji, including clapping hands, fire, heart, laughter, surprise and thumbs up. And most importantly, unlike Clubhouse, Hotline events are recorded. Creators get both an audio and video recording that they could edit and upload elsewhere, including on other social networks. Because of its use of video, upvoted questions and recording, the app has a different vibe than Clubhouse — it feels more like a virtual event than a more casual space. Facebook is catering to this audience, too, by seeking out creators who are focused on doling out professional advice, it says.

Of note, Hotline is being led by Eric Hazzard, who joined Facebook when it acquired his app tbh, a positivity-focused Q&A app.

Weekly News

Platforms: Apple

Still more betas. Apple this week released its seventh betas for iOS 14.5, iPadOS 14.5 and other platforms, including Apple TV and Apple Watch — iOS 14.5 brings the rollout of App Tracking Transparency, which is why Apple is probably taking its time with this one.

iOS 14 adoption has now surpassed 90% according to data from Mixpanel. In December, 81% of phones were running iOS 14, now 90.45% are. Another 5.07% of users are running iOS 13, while 4.48% are running iOS 12 or older versions.

Apple has been spotted testing tags in the App Store that will help guide users to more precise search results. The test, first reported by MacRumors, had users encounter tags at the top of App Store search results when searching for popular terms like “photos” or “wallpaper,” that could help narrow results. Some users were running the iOS 14.5 beta when they saw tags, but others were not. It’s unclear if or when tags will launch to the wider public.

Apple opens up its Find My app to third-party products and launches a new app to test them. The company has still not launched its own AirTags, a lost-item finder similar to Tile. Instead, it’s smartly positioning the Find My app as a platform anyone can plug into, in order to assuage anti-competitive concerns. The first items that will plug into Find My include VanMoof’s S3 and X3 e-bikes, Belkin’s SoundForm Freedom True Wireless Earbuds and the Chipolo ONE Spot tracker (a Tile rival).

However, one big name is notably missing from the lineup, and that’s AirTags’ biggest competitor, Tile itself. Tile doesn’t want to hand over the direct customer relationship it has by way of its Tile app just to be included in Find My. And some have suggested Apple is propping up the Chipolo tracker to counter any arguments from Tile that it’s being anti-competitive with the launch of AirTags when they finally arrive.

Apple updated its App Store Connect and Apple Music for Artists app icons to look more like the design choices used on macOS Big Sur. That’s leading to speculation that iOS 15 could also adopt the look of Big Sur when it comes to design.

Apple details its App Store takedowns in new transparency report. Apple’s latest transparency report offers information about app takedowns due to requests from government authorities due to suspected violations of local laws. Apple says it complies with these requests where it’s legally required to do so. These requests, however, are not focused on Apple’s own editorial guidelines, which prohibit content that Apple itself chooses not to host.

Platforms: Google

The new Google Play Store design arrives, killing off the hamburger menu for good. The design is rolling out to Android devices. An in-app message tells you that those menu items have been moved to your profile icon, which, when tapped, brings up a condensed menu. The Settings menu was also updated. Some have complained the changes are making menu items and options harder to find. The Play Store hadn’t been updated significantly since 2019.

Google announced a new app review process across AdMob and Ad Manager which will evaluate a mobile app’s inventory quality before allowing unrestricted ad serving. The process will give publishers feedback on their apps’ approval status so they can resolve issues that could lead to policy violations. Google says the new app reviews are being rolled out gradually in 2021 with two features: app readiness and app claiming. The former will require publishers to link apps they want to monetize with one supported app store, so their app can then be reviewed. The process will check the app source, publisher’s ownership and policy compliance. App Claiming will provide a list of apps that are being monetized with their ad code but aren’t yet on their AdMob or Ad Manager account.

Android Auto apps can now be launched into production, Google announced this week, following months of testing. That means developers can now publish apps for navigation, parking and charging to Google Play without needing to sign up for a beta program.

Android 12 may make it easier for third-party launchers to operate, as it will allow them access to perform universal device searches. The change was spotted in a new API (AppSearchManager API) by the developer of the Niagara Launcher.

All of Google’s flagship iOS apps have now adopted Apple’s new privacy nutrition labels, as Google Photos was finally updated on Tuesday.

Trends

Consumers now average 4.2 hours per day in apps, up 30% from 2019. In the first quarter of 2021, the daily time spent in apps surpassed four hours in the U.S., Turkey, Mexico and India for the first time, the report notes. Of those, India saw the biggest jump as consumers there spent 80% more time in smartphone apps in the Q1 2021 versus the first quarter of 2019.

45% of apps used in Q1 2021 were games and 36% of gamers said they were now playing more mobile games compared to before the pandemic, AdColony said. In the first two weeks of 2021, the top 10 casual games saw 80 million downloads.

E-commerce

WhatsApp now allows business owners to manage their catalogs through the web and on desktop. The catalog feature was introduced in the messaging app in 2019 to allow businesses to better manage their inventory. To date, more than 8 million business catalogs are now live on the platform.

Fintech

Free trading app Robinhood says crypto trading has spiked to 9.5 million customers in the first quarter. That’s up from the 1.7 million customers who traded crypto in the 2020 fourth quarter.

Private messaging app Signal began testing payments in the U.K. using the cryptocurrency MobileCoin (MOB). The beta program will allow users to access a new Signal Payments feature in the app where they can then link a MobileCoin wallet after buying the cryptocurrency on the exchange FTX. Once set up, you can then send MOB to anyone else on the app who also has a linked wallet.

Social

Twitter is said to have discussed a $4 billion acquisition of hot new audio app Clubhouse, Bloomberg reported. TechCrunch also confirmed the talks, but understands they’re no longer taking place. Bloomberg had earlier reported Clubhouse is now looking to raise a round, also at a $4 billion valuation.

TikTok announces six new interactive music effects to keep its audience engaged as competition heats up, with tech giants Facebook, YouTube and Snap all releasing TikTok clones. The first effect is Music Visualizer, which runs real-time beat tracking to animate a retro greenscreen landscape. In less than a day since its debut, over 28,000 videos had used the effect.

TikTok rolls out a new feature, auto captions, to make its short-form videos more accessible to hard of hearing and deaf. Creators can enable the feature during editing, which could also be useful for times when you want to listen to TikTok privately but don’t have your headphones.

A group of lawmakers wrote to Facebook CEO Mark Zuckerberg to press the company for information about its plan to create a curated version of Instagram for children under 13. Facebook already offers an under-13 app, Messenger Kids, and its rival TikTok offers an age-gated experience as well for under-13 users. Lawmakers expressed skepticism that Facebook would keep children’s data private.

Reddit drops support for iOS 12 and lower, given that iOS adoption for later versions now reaches the vast majority of users.

Tim Cook talked about the banned right-wing app Parler in a wide-ranging interview on The NYT’s “Sway” podcast. He made a straightforward case as to why the app needed to be removed, but also said he hoped they’d try to return. “I hope that they come back on. Because we work hard to get people on the store, not to keep people off the store,” Cook said. “And so, I’m hoping that they put in the moderation that’s required to be on the store and come back, because I think having more social networks out there is better than having less,” he added.

Messaging

WhatsApp was spotted testing a feature that would allow users to migrate their chat history between devices (iOS and Android, that is).

Group chat app Discord said it banned over 2,000 extremist communities in the second half of last year — nearly double the number it banned during the first half of the year, when the Capitol riot took place. Around 1,500 of the communities were first detected by the company. Discord had reportedly been talking to Microsoft about an acquisition.

Streaming & Entertainment

Spotify launched (but didn’t initially announce…until a slew of media reports forced their hand) a voice command feature, “Hey Spotify.” The feature lets you call up artists, songs, albums and playlists by name after first opting in and enabling the microphone permission. This will allow Spotify to listen and record your voice data once it hears the wake words, “Hey Spotify.” The company wouldn’t answer questions about the feature, which seems to indicate the rumors that Spotify is readying the launch of its in-car hardware, Car Thing, may actually be true.

Clubhouse launches payments so creators can make money from their shows. Users will be able to send money to favorite creators, which Clubhouse says it’s not taking a cut from — hoping to avoid the Apple tax on in-app purchases through the donations carve-out Apple agreed to for Tencent in 2018. Creators will have to enable the new virtual tip jar feature in order to accept payments.

YouTube Music’s mobile app is getting a design refresh. The app has begun testing new iconography that matches the update the YouTube mobile app received last year, when it dropped the gray icons for the more visually distinct ones.

The YouTube Kids app has rolled out to 11 new markets, including Bolivia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Paraguay and Uruguay.

As rumors about Spotify’s launch of “Car Thing” swirl, Amazon Music debuts a “Car Mode” that makes its music app easier to use while driving, with features like bigger text, bigger buttons and even Alexa built in — the latter countering Spotify’s launch of “Hey Spotify” voice commands.

Gaming

Fortnite users can now livestream gameplay to Houseparty’s social app, which Epic Games (Fortnite’s maker) also owns. To use the new feature, the Fortnite player will need to have enabled Fortnite Mode Streaming and be connected to Houseparty. When they begin to stream their gameplay, their friends on Houseparty will be notified that their game feeds are now available to watch. The addition follows Houseparty’s launch of a “Fortnite Mode” last November, which added a video chat feature to Fortnite where players could see live feeds from their friends while gaming, powered by Houseparty.

Google opened up applications for its 2021 Change The Game Design Challenge, which will again be virtual. Participants who are chosen will be invited to an online game development workshop hosted by Google’s partner, Girls Make Games. The workshop will offer four sessions, kicking off in June and running through the end of the summer. At the end of the workshop, participants will have learned skills needed to create a playable game, no coding experience required.

Apple was hit with a class action lawsuit, filed in the U.S. District Court for the Northern District of California, which claims that Apple runs an “unlicensed casino” due to its hosting of free-to-play casino games. Though the games use virtual currency, the lawsuit notes that users can buy more coins with real money. The suit says this violates the anti-gambling laws of at least 25 U.S. states.

Health & Fitness

French startup Nabla launched its new app focused on women’s health, allowing women to chat with practitioners, access community content, centralize all their medical data and, soon, schedule telemedicine appointments. The startup has raised $20.2 million for its app and has a team of doctors on board to answer user questions.

Government & Policy

Apple must now show a set of Russian-made apps during iPhone setup, according to a new law that went into effect in early April. Apps getting a boost from the suggestions include Mail.ru, OK Live, VK and others. The apps are not being pre-installed as it turns out, but are being offered for download during the final step of the setup process.

Security & Privacy

Facebook is facing questions from the EU’s data protection regulator over the 2019 data breach that exposed, among other things, the emails and phone numbers of more than 500 million Facebook users. The breach was reported last weekend by Business Insider, leading to concerns. Facebook says the data dump was related to a vulnerability it had fixed back in August 2019. It later explained that the data was scraped from user profiles using a contact importer feature before Facebook made changes to the tool to prevent abuse.

Funding and M&A (and IPOs)

Plaid competitor TrueLayer, which works with fintech apps like Revolut and Freetrade, raised $70 million to expand its service internationally.

Indian investment app Groww raised $83 million at an over $1 billion valuation for its app aimed at millennial investors. Tiger Global led the round, and existing investors Sequoia Capital India, Ribbit Capital, YC Continuity and Propel Venture Partners participated. The app has over 15 million users, two-thirds who are investing for the first time.

Quiq acquires Snaps to create a combined customer messaging platform. Both startups help businesses communicate with businesses through text messaging and other messaging apps. But despite similarities, the two didn’t overlap much as Quiq had focused on customer service messaging and Snaps on marketing communications. Deal terms were not revealed, but Snaps had raised $13 million.

Note-taking mobile app Mem raised $5.6 million from Andreessen Horowitz and emerged from stealth. Its app lets users quickly jot down thoughts without worrying about organizing them. The app allows for tagging users and topics, setting reminders and more.

Indian social network ShareChat raised $502 million in Series E funding led by Tiger Global, valuing its business at $2.1 billion — up from $650 million last year. Snap and existing investors Twitter and Lightspeed Venture Partners also participated. The six-year-old startup has raised $765 million to date and claims to reach over 160 million users.

Mobile game unicorn AppLovin is targeting a $30 billion valuation in its IPO. The Palo Alto-based business sold a majority stake to private equity firm KKR & Co. Inc, and is now hoping to raise as much as $2.13 billion in its IPO by selling 25 million shares for between $75 and $85 per share.

Saving and investing app Acorns acquired AI-powered startup Pillar, which helps people manage their student loan debt. Pillar launched in 2019 with $5.5 million in seed funding led by Kleiner Perkins and grew its business to manage over $500 million worth of student loan debt across 15,000 borrowers. Acorns will add Pillar to one of its monthly subscription plans in time.

Berlin-based Charles raised €6.4 million to bring “conversational commerce” to WhatsApp. The startup helps businesses sell on WhatsApp and other chat apps by connecting them with shop and CRM systems, including Shopify, SAP and HubSpot.

Design startup Canva, which offers its service across both web and mobile, raised $71 million more in funding, valuing its business at $15 billion. The company had just raised $60 million at a $6 million valuation in 2020.The round was co-led by Christian Jensen, a partner at Dragoneer. Other investors included T. Rowe Price, Skip Capital and Blackbird Ventures.

Online lender Avant acquired fintech startup Zero Financial and its mobile neobank Level. Deal terms weren’t disclosed but were a mixture of cash and stock. Avant has raised more than $600 million in equity. The company plans to leverage the deal to deliver personalized options to help underbanked consumers gain financial freedom, it says.

App Store optimization tool provider AppTweak raised $22 million in Series B funding from Groupe Rossel. The company now tracks 3 million keywords daily and grew revenues 950% between 2016-2019, it says. Its tools are used by companies including Amazon, Jam City, Zynga, HBO Max, Adobe and Yelp.

London mobile game studio Tripledot Studios raised $78 million in its first institutional round from Eldridge, Access Industries and Lightspeed Venture Partners. The studio’s games, which include classic titles like Solitaire and Blackjack, have an active user base of 11 million, up from 6 million six months ago. Its team hails from Facebook, King, Peak Games and Product Madness.

Indian conversational messaging platform Gupshup raised $100 million from Tiger Global, valuing its business at $1.4 billion. The company had experimented with other business models over the years, including a messaging app and enterprise messaging before landing on its current suite of solutions for building messaging bots, APIs, a scripting engine and other tools that need to message customers on mobile devices. Its tools support sending messages via text and RCS as well as WhatsApp, Messenger, Telegram, Signal, Twitter, Slack, Skype and its own messaging channel. Gupshup currently delivers 6+ billion messages per month.

Downloads

Halo AR

This relatively new AR app lets you add AR to anything — a textbook, a magazine cover, a piece of paper, a photo or any other flat real-world object. To use Halo AR, you first select the object and snap a photo, then choose which photo, video or 3D model you want to overlay on top of it. Teachers can use the app to “tag” their course materials with AR links of sorts to immersive content or videos. Or you could use it for fun to create a scavenger hunt in the house for the kids. The app is a free download in the Education category on iOS and Android.

SmartGym

This popular gym app for Apple devices, and one of Apple’s favorite Apple Watch apps of the year, got a big update this week. The new version of SmartGym more than doubles the number of exercises, growing the database of 290 exercises with the addition of over 330 more — including for those who work out at home with bands, resistance loops, TRX and more. The app’s AI Smart Trainer can then use these new exercises to make its personalized recommendations for you. There are new pre-made workouts for boxing, martial arts and even ultimate frisbee in the updated app.

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