News digest 20.02.2023
Meta will sell blue badges on Instagram and Facebook borrowing Musk’s playbook
Facebook-parent Meta has launched a subscription service, called Meta Verified, that will allow users to add the coveted blue check mark to their Instagram and Facebook accounts for up to $15 a month by verifying their identity, its chief executive Mark Zuckerberg said on Sunday, tapping a new revenue channel that has returned mixed success for its smaller rival Twitter.
Online casinos in New York are possible with the bill on the table
New York Senator Joseph Addabbo Jr. has introduced a bill to the state Senate that would legalize online casinos in the state of New York. The bill, titled Senate Bill S4856 is designed to add an additional amendment to New York’s current racing, pari-mutuel wagering and breeding law, named article 15, that will add iGaming regulation for the state. The amendment would allow for online slots and table games as well as live dealer games.
TikTok provides 70,000 new data Insights to help marketers maximize their In-App efforts
TikTok has added another 70,000 new insights to its TikTok Insights tool, which is an interactive app that you can use to drill down into specific usage trends and shifts. Originally launched last May, TikTok’s Insights tool enables you to filter the results displayed by different topics and regions.
Instagram is killing live shopping in March and focusing on ads instead
Meta announced it was exiting the livestream shopping business on Instagram, following a similar shutdown on Facebook. Starting on March 16, 2023, Instagram users will no longer be able to tag products while livestreaming — a capability that has been broadly available to U.S. businesses and creators since 2020. The changes highlight the difficulties the U.S. market has had in making livestream shopping successful.
India’s PhonePe nets additional $100m in ongoing fundraise
The new capital infusion follows a $350 million fundraise from General Atlantic last month. PhonePe aims to raise “up to $1 billion” in capital, expecting further investments from global and Indian investors. Money from the latest funding tranche will be used towards scaling PhonePe’s payments and insurance business in India. It will also be used to move into new businesses such as lending, stockbroking, ONDC-based shopping and account aggregators over the next few years.
Tencent launches cross-border payment platform for e-commerce business
Chinese leading tech player Tencent recently launched a cross-border payment platform named “Tenpay Global Business”, which provides a one-stop solution for services such as global collection, payment and exchange for cross-border e-commerce sellers and e-commerce platforms. Tencent‘s new platform has reached agreements with mainstream e-commerce platforms such as Amazon, MercadoLibre and Cdiscount.