Categories
Business Tech

Tencent Music Entertainment Set to List on Hong Kong Stock Exchange in Coming Days

It has been reported that Tencent Music Entertainment will be performing a secondary listing in Hong Kong in the coming days.

China’s TME, home to three of the country’s leading music streaming services; QQ Music, Kugou and Kuwo.

The secondary listing plan was announced by TME Executive Chairman Cussion Pang alongside the firm’s Q4 2021 and FY 2021 results.

This will be a very big listing for the Hong Kong Stock Exchange.

“We are pursuing a secondary listing on the Main Board of the Hong Kong Stock Exchange through a listing by way of introduction (which is a direct listing without any offering of new shares), subject to regulatory approvals,” said Pang.

It will be interesting to see in the coming year if TME also decides to keep their NYSE listing or whether they decide to pull out of the US market.

Categories
Business Tech

Private Investing vs Public Investing = Tale of Failed IPOs

I posted this on Twitter, but thought I would also share on here as it really showed the difference between private investing and public investing.

Some companies that have market caps less than the total money they have raised:

Bird ($120M mkt cap vs $1.2B raised)

Wish ($810M mkt cap vs $2.9B raised)

WeWork ($2.8B mkt cap vs $16.2B raised)

Lyft ($5.1B mkt cap vs $7.3B raised)

Categories
Business Tech

Cash App Marketing Strategy – Bring in the Hip Hop Culture

I came across this post by – Dan Runcie (Trapital). Great read and started to make a lot of sense in combination with Square (Cash App owners) also buying Tidal.

Research also via – Ark Invest – https://ark-invest.com/articles/analyst-research/squares-cash-app-twitter/

For years, Cash App lagged behind Venmo. But that was before it teamed up with rappers as influencers. Here’s how hip-hop helped Cash App become a $73B+ business.

When Cash App launched in 2013, it was very buttoned-up.

Users needed phone numbers or emails to transfer money. There was no social element. It lost money with every new sign-up.

But in 2015, Cash App introduced $cashtags. In 2017, it followed up with Bitcoin trading just before it hit its first $20k high. The timing was perfect.

With its crypto users generating 3x more revenue than non-crypto users, Cash App wanted to double down on its influence.

At the time, Cash App started getting more shoutouts in rap songs. The company wasn’t sure why, but Block, Cash App’s parent company, locked in on one of the more successful influencer campaigns in recent years.

In May 2018, Cash App teamed up with Lil’ B. That August, Travis Scott came on board. And in December of that year, Snoop Dogg was its newest partner.

With Cash App as a sponsor, these artists gave away $100-$500 to fans who posted their $cashtag under their posts.

Cash App’s hip-hop influencer giveaways worked for four reasons:

1. Low customer acquisition cost (CAC)

2. Free money is always an easy sell

3. This was the first time hip-hop fans were the target audience for a financial service

4. It built on its existing popularity

Let’s break those down.

1. Low CACs

ARK Invest had a great breakdown on how Cash App’s hip-hop influencer tactics drop its CAC to be as low as $20 per user.

As a comparison, traditional banks spend $925 per user.

2. Free money is an easy sell

In 2019, the company spent an estimated $60k on Cash App Fridays, an investment that paid for itself many times over. Cash App Fridays became an awareness-building tactic in itself.

3. Reaching different customers

Cash App’s user base is strongest in the South and the Midwest of the US, which aligns with the regions where many hip-hop fans live.

Historically, these regions also get ignored by traditional banks.

By targeting these areas, Cash App took an approach opposite to most startups who instead focus on their “early adopter” coastal elite networks in NY, SF, LA, and DC.

Unlike Venmo, which relied on Ivy League students and alumni for initial growth.

4. Built on existing popularity

Cash App has now been name-dropped by 200+ hip-hop artists.

Sponsoring artists to give away hundreds of thousands led to more peer-to-peer transactions, which attracted more of its most profitable demographic, Bitcoin investors.

Cash App leaned into its popularity even more when it launched Cash App Studios in 2021 to bankroll artists and other creatives.

Cash App has achieved every modern brand’s dream: To become part of the ‘culture’ without appropriating it.

Categories
Business Tech

How Dharmesh Shah Built a $90,000/Month App Side Hustle In 48 Hours

Im a huge fan of Dharmesh Shah – who is the CTO of Hubspot. Dharmesh loved Wordle so much that he build an app that was based off the popular game but with some key twists. Its a great story and really worth watching him explain this in the above video.

Categories
Tech

Justin Kan – Q&A – Solid Startup Advice

I’m a big fan of Justin Kan (co-founder of Twitch). He has been running a YouTube channel for quite some time and here is his most recent Q&A.

If you’re looking for very simple and easy to digest startup advice then look to his channel.

Categories
Tech

Schedule Messages on Text Messages, iMessage, Whatsapp, etc.

Why can’t I schedule send text messages or messages on Facebook Messenger or Whatsapp?

I struggle to understand at the moment why this isn’t a standard feature in all messaging apps.

Please, Please, Please!

Categories
Tech

Apple Freeform – Whiteboard Collaboration Tool for iOS 16

Apple is moving into the Whiteboard game with Freeform. Freeform is going to be a new whiteboard style app that enables groups of people to collaborate in real time in a completely open space. Freeform is coming out on the new iOS 16 – which is scheduled to come out later this year.

Categories
Business Finance Tech

Fidelity Investments Slashing Valuations on Reddit, Stripe, Bytedance and Instacart

It seems like private market valuations for startups are getting slashed because of overall economic outlooks. In the past few months we have seen heavy declines in the public markets and now the private markets are following behind.

Fidelity Investments is cutting some of its portfolio company valuations.

  • Reddit valuation is down by more than a third.
  • Stripe valuation is down by about 13%
  • Bytedance valuation is down by 13%
  • Instacart is valued at half of its value from last year.

These are only private valuations inside of Fidelity and this was back in April – so its expected that these valuations have dropped even more since then.

It’s a tough time economically for everyone!

Categories
Tech

Apple Tap to Pay is Going to Help Small Businesses Accept Card Payments Immediately – No Hardware or Contracts Required!

Apple announced back in February that they were going to launch Tap to Pay.

Tap to Pay is a new feature that will enable any merchant to accept payments with only an iPhone – this could obviously really hurt companies that take a cut in the middle like Square or Stripe.

This is going to be an amazing feature for small businesses – who wont need any new hardware or contracts. Just an Apple phone and a dream!

Now, it turns out that Apple is already testing the feature at its own Apple Park visitor center in Cupertino.

Categories
Tech

ClubHouse Offering Music Audio Listening Without Any Music Licensing

ClubHouse has been a popular audio app for some time now, but it seems like they now have audio listening rooms (Pandora style).

It seems like ClubHouse has forgot one huge downside to this and that’s the fact that they don’t actually have any music licensing to be able to offer such a service.

I wonder whether this is part of the ClubHouse strategy or whether this has just become something that is happening inside their app without their control …. I’m not too sure. However, it won’t take very long for music PRO societies to notice this and come calling for an appropriate license.

Categories
Cryptocurrency Tech

How Much Does it Cost to Create an NFT on Opensea?

Opensea charge between $70 and $100 dollars when you setup your account and you want to start selling on the Euthereum blockchain. However, you can now choose to mint NFTs on the Polygon blockchain and there is no setup fee and it can be done completely for free.

Take a look here at Opensea.

Categories
Business Cryptocurrency Tech

Coinbase Very Close to Acquiring Brazils Largest Crypto Exchange – Mercado Bitcoin

Report came out today that Coinbase (COIN) is currently in talks to acquire 2TMM, owner of Mercado Bitcoin, Brazil’s largest crypto exchange.

Mercado Bitcoin has reached 3.2 million customers in 2021, of which 1.1 million were added last year, with a trading volume of $7.1 billion in 2021.

Why it matters:

This gives Coinbase a very strong position in a market in which they have been struggling to gain traction. Brazil and South America overall is going to be a very important market in future for cyptocurrencies.

Categories
Cryptocurrency Tech

Phantom Wallet – Beginner’s Guide Video with Walkthrough

Solana is a protocol that is on the rise. Adoption of Solana in terms of developers and DApps have been increasing over the past few years at breakneck speeds – and this leads to more users needing a good wallet solution – step in Phantom.

Phantom is a a crypto wallet focused towards the Solana ecosystem. Here is a great beginners guide to the Phantom wallet – how to signup and how to use the wallet in browser.

Categories
Business Tech

Apple Will Allow iPhones to Accept Contactless Payments by NFC

Apple is reportedly going to allow iPhones to start accepting contactless payments. This is huge news!

It will dramatically affect any card company and how they collect their fees – as well as companies like Square and other POS services.

Apple has reporting been working on this service since 2020, when it purchased a Canadian startup called Mobeewave. Mobeewave’s technology only needs an app and the phone’s NFC to work.

I expect that Apple will roll out such a service as part of Apple Pay.

Game changer!

Categories
Business Cryptocurrency Tech

China Blockchain Services Network to Launch NFT Minting and Marketplace Service in China

It has been announced that China’s state-backed Blockchain Services Network (BSN) will soft launch infrastructure for NFTs in China.

BSN said the infrastructure, known as BSN-Distributed Digital Certificates (BSN-DDC), would offer “a diverse, transparent, credible and reliable” one-stop-shop for businesses to mint and manage their own NFTs without relying on cryptocurrencies, which are banned in China.

This will be a very interesting experiment from the Chinese Government as the vast majority of NFTs in the world at the moment are based off the Ethereum network.

Categories
Business Cryptocurrency Tech

Does Audius Pay Artists, Musicians and Record Labels for Streams?

No.

Audius has been live for over 3 years now and it is still yet to have a full payment system for artists and record labels.

Audius provide tokens to 5 top artists each week, but that has little to no value for any artist that is going to use their platform with the hopes of reaching more fans and making money from their music.

This feels like it is a completely dead project – even though they have over $1 billion stakes in the platform with a market cap of now less than $500 million.

Categories
Business Cryptocurrency Tech Video

Best Blockchain, Cryptocurrency and NFT Explanation Videos I Have Seen – Well Worth the Watch

This has to be one of the most interesting Blockchain, Cryptocurrency and NFT video I have ever seen. It runs through a huge amount of topics and structures and explains them in a very simple way.

After watching the video – there are some points that stand out as great points and others which are kind of irrelevant.

Even after the first 10 minutes there are points in which the previous financial bubble seems to be the exact same structure as what is occuring with NFTs at present. Interesting.

However, this is REALLY WORTH THE WATCH

Categories
Tech

Can Certain Music Distributors Send Music to Stores / DSPs Faster Than Others?

Short Answer = No

All music distributors (RouteNote, CDBaby, Tunecore, etc) take the same amount of time from the moment a track leaves the distributors server and is packaged to be delivered to a DSP (Spotify, Apple Music, Amazon, etc). On average the DSPs will take between 24-48 hour to ingest the content once it is uploaded to their servers.

The ONLY way a music distributor can speed up the process is by pushing tracks through its internal moderation process faster.

Categories
Tech

Is Rippling Available in the UK and Other Countries Outside the USA?

Rippling has one of the best HR based platforms in the world. Its built from the ground up to help companies look after their employees at all stages.

However, it’s only available in the USA!

I run a company in the UK – and I really wish Rippling was available here. I understand there are a lot of complexities around compliance when you are talking about Payroll and HR globally, but it seems like no one has been able to sort that out on a global basis for all employees as of yet.

Categories
Business Tech

Deel Financials for 2021 – $50 million in ARR – 500+ Team Members

Alex Bouaziz the co-founder and CEO of Deel has just announced some of their recent numbers on Twitter.

In 2021 –

  • $4m to $50m in ARR
  • 50 Team Members to 500+ Team Members in 60 Countries
  • Raised over $600 million

That is one of the craziest years I have ever heard.