On Demand Delivery News (Weekly Roundup) June, Week 2
On Demand Delivery News (Weekly Roundup) June, Week 2
- Chinese Grocery Apps – Missfresh & DingDong Eye $500 Million Each via US IPOs
Two Chinese online grocery platforms – Missfresh and dingdong Maicai – are going to raise about $500 million each through initial public offerings on US stock exchanges to fund their growth plans, per sources that are accustomed to these transactions.Both firms are keen to launch their stock offerings and list by the end of june at the earliest.
The on-demand grocery e-commerce market is extraordinarily competitive in China, with several players finding it exhausting to show a profit. The grocery app operators have bet their hopes that customers will still order fresh produce online after getting used to the convenience and safety throughout the Covid-19 pandemic.
Missfresh plans to use the initial public offering proceeds on upgrading its technology, supply chain and on sales and promoting. Underwriters of the deal are JPMorgan, Citigroup, CICC and China Renaissance.
Dingdong plans to use the initial public offering to increase its penetration in existing markets, and entering into new markets and technology.
- Art App SketchAR Plans to allow artists to list their Artwork directly on NFT Marketplaces!
SketchAR is an existing mobile app that permits artists to show photos into illustrations with the help of its AI-based computer vision. It is now launching a brand new feature that permits users to change their art into NFTs directly within the app and then sell it.
However, there’s a catch. The design will have to be created directly within the SketchAR app so as to prove the creator is the legitimate rights holder, says the startup. This is, however, a plus, says the startup, since only a few marketplaces monitor the derivation and credibility of artworks uploaded proactively.And for now, it’s like there’s no real equivalent app on the market, though there are in fact many ways that to create design and then transfer it to an NFT marketplace using a separate method.
- Amazon & GoPuff allegedly explore deal for Germany’s Flink
According to sources, Amazon & Gopuff , a US delivery app backed by SoftBank, explored competing takeover bids for German Startup , Flink.
Europe and Germany, in particular, have become highly competitive spaces for on-demand delivery apps. Competition has only intensified during the Covid-19 pandemic. Amazon offers grocery delivery there, and just in the last year, Delivery Hero SE, Just Eat Takeaway.com NV, Uber Technologies Inc. and Finnish startup Wolt have all started their German operations.
The past several months brought a variety of deals. Companies and venture capitalists have spent billions of dollars into on-demand companies with a bet on a permanent shift to online ordering that would claim a greater share of people’s grocery budgets. On Friday, Flink said it had raised $240 million in new funds from Prosus NV, Bond and Mubadala Capital.
Related read – How to Create Your Own Delivery App Like GoPuff
- Trebel, free music streaming app files for US IPO!
TREBEL, a free music streaming app that enables users to lawfully download from a catalog of over fifteen million authorised songs at no cost has filed for Initial Public Offering commercialism in the United States.
According to the company’s recent SEC filing, the app, which is on the market on both android and iOS, is supported by premium advertisers and has “strong relationships with the biggest record labels of the world”, together with Universal Music group, Sony Music entertainment, and Warner Music group.
TREBEL’s filing conjointly reveals that the app’s monthly active users grew 59% year-over-year as of december 31, 2020 to 3.2 million.For the years concluded december 31, 2019 and 2020, the corporate generated $1.88 million and $2.33 million in revenue, respectively, representing a rate of growth of 23%.
The company explains that it generates revenue by employing a business model that mixes traditional advertising and “multi-modal monetization”.
Explaining what this implies within the filing, TREBEL states that “Like mobile games, our business model and technology is meant to maximise revenue by giving users the chance to watch ads, purchase virtual product, and interact with branded experiences in exchange for overwhelming premium content like songs and albums by their favorite artists”.
- Food Delivery Apps Charging over NYC Fee Cap, Suit Claims
Grubhub, DoorDash, Uber Eats, Postmates and Seamless were hit with a class action on Monday, alleging that they’ve been “bleeding New York City’s restaurants dry” since the start of the coronavirus pandemic by charging delivery service fees that exceed the city’s 20% cap.
Manhattan bakery Micheli & Shel LLC filed suit in federal court, alleging that the food delivery apps have broken the emergency legislation passed by the New York City Council last May. The rules restricted the fees that 3rd party delivery services could charge to restaurants that were forced to limit their services to takeout and delivery due to lockdowns.
According to the complaint, New York City’s Local Law No. 52, passed in May 2020 and effective as of June 2020, barred the apps from charging more than 15% for delivery and 5% for all additional fees, including processing and marketing.
But while the delivery apps revised their fees to appear in accordance with this new law, the bakery alleged, the companies have simply figured out new ways to continue charging restaurants above the fee cap in order to make record-breaking profits.
- Indian Developer’s Classical Music App wins Apple’s Best Design Award!
June 11, 2021
Indian Musician/App Developer Sandeep Ranade’s Classical music app “ NaadSadhana” has been recognised under the new innovation award category for its state of the art experience and novel use of Apple Technologies .
Every year during its developer conference – WWDC , Apple announces its design awards after considering apps and games from all over the world . Only 12 apps are given this award and “ Naad Sadhana” by Sandeep Ranade was one of the winners this year!
- BYJU’S Becomes the Most Valued Indian Startup beating Paytm as it Raises $340 Million at $16.5 Billion Valuation!
Bengaluru-based edtech leader BYJU’S has currently become the highest-valued Indian startup, pushing back digital payments giant Paytm, by raising Rs. 2,500 Crores (about $340 Mn) at a lofty valuation of $16.5 Bn.
The funding round that saw BYJU’s valuation break new records was led by investors like Swiss international multinational UBS group AG, Zoom founder Eric Yuan, Blackstone, Abu Dhabi sovereign fund ADQ and Phoenix Rising–Beacon Holdings, in line with reports.
Besides this, the edtech startup is additionally now the best valued edtech startup within the world. Currently, most of the high valued edtech firms come from China which incorporates names like Yuanfudao that was last valued at $15.5 Bn as of december 2020, and Zuoyebang that had hit a valuation of $10 Bn within the same month.
BYJU’S conjointly includes a sizable number of users. Byju’s had added twenty five Mn new students to its platform between March 2020 to November 2020, growing its user base to 75 Mn students, as well as 4.2 Mn annual paid subscribers.
- App Based Workplace Pension Startup Collegia raises 500,000 Euros!
June 10th , 2021
Collegia is the UK’s only APP based Auto Enrolment pension provider that also provides the flexibility of a personal pension, meaning that it is transferable between employers and during periods of self-employment making it a true pension for life. It was recently awarded FCA and HMRC approval for its novel approach to improving Auto Enrolment provision in the UK.
Collegia plans to use the funds to back its UK launch this June and continued development of its Auto Enrolment pension technology.
The funding attracted global investors including Hong Kong based angel investment, individual and family office investors from Italy, Dubai, Brazil and the UK.
Collegia is led by founders CEO Eduardo Chazan and COO Riccardo Gasparini who met while pursuing their MBAs at Oxford.
- Berlin Based Financial App, Wajve raises 5 Million Euros seed funding!
Wajve, the Berlin-based monetary app for Gen Z, has raised a €5 million seed round, headed by EQT Ventures with participation from 468 Capital. The funding will be utilized to accelerate the roll-out of the platform, which has recently launched, for the primary customers in Germany before diversifying into other European markets.
Founded in 2021, wajve permits wonderful monetary choices in seconds for the younger generation, combining banking, financial education, and recommendation in one app, with a special focus on Gen Z. Gen Z have become progressively aware in planning for his or her financial futures. Wajve may be a trustworthy consultant to the current new generation, assisting them to become active participants within the new digital-first world economy.
Along with EQT Ventures and 468 Capital, the new fintech wajve has attracted support from Finleap, Europe’s largest fintech ecosystem, and high tier business angels together with Lucas von Cranach (CEO of OneFootball), Roland Grenke (co-founder of Dubsmash and Acapela Group), and Christian Gaiser (CEO of COSI).
- Seattle Tutoring App, Kadama raises $1.7 Million in Seed round as it grows Social Following!
Kadama, the Seattle-based tutoring app which seized on its stand out social media presence to attract millions of followers and customers, has raised $1.7 million in a seed round.
Kadama was founded five years ago at the University of Washington as a multi-services idea, but was eventually launched several months ago in its current educational form. Through its free iOS app, the company provides an online tutoring service for both students who need help and tutors who are looking to connect with those students.
Kadama cashed in on the pandemic to attract Gen-Z users that were forced into remote learning. Much of its advertising has been through TikTok, the video-sharing platform where Dani Shaykho offers up an endless variety of “hacks” related to everything from homework to smartphone shortcuts.
The funding round was led by Grishin Robotics. Russian investor Dmitry Grishin, founder of Mail.ru, has joined the Kadama board.
Kadama will use the cash to hire software engineers to help build its upcoming Android app and develop new product features on its iOS app. It will also be expanding its marketing efforts by partnering with large social media influencers that appeal to Gen-Z.
See also – Building An App Like Clubhouse