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11/13/20: What’s Going On

Netflix drops a new feature, Instacart plans its IPO and more from around the business world.
(XanderSt)
(XanderSt)
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“Netflix already borrowed the concept of short-form video “Stories” from social apps like Snapchat and Instagram for its Previews feature back in 2018. Now, the company is looking to the full-screen vertical video feed, popularized by TikTok, for further inspiration. With its latest experiment, Fast Laughs, Netflix is offering a new feed of short-form comedy clips drawn from its full catalog.”

“Chinese President Xi Jinping personally made the decision to halt the initial public offering of Ant Group, which would have been the world’s biggest, after controlling shareholder Jack Ma infuriated government leaders, according to Chinese officials with knowledge of the matter. The rebuke was the culmination of years of tense relations between China’s most celebrated entrepreneur and a government uneasy about his influence and the rapid growth of the digital-payments behemoth he controlled.”

“U.S. grocery delivery firm Instacart, whose financial results were boosted by the Covid-19 pandemic, is planning an IPO early next year, Reuters reported. That should come as no surprise. Food delivery firms have been among the biggest beneficiaries of the shifts in consumer behavior as in-store shopping took a hit, and restaurant-delivery firm DoorDash is due to go public as soon as next month.”

Companies Raising Capital
NameAmountDescription
BTV$75 MillionFintech-Focused Early-Stage Venture Fund
Truebill$17 MillionUser Tools For Financial Independence
InFeedo$3.2 MillionRetain Talent and Measure Employee Happiness
OthersideAI$2.6 MillionUsing AI To Write Email Messages
Oversecured$1 MillionMobile Security Startup

“The Commerce Department said Thursday it wouldn’t enforce its order that would have effectively forced the Chinese-owned TikTok video-sharing app to shut down, in the latest sign of trouble for the Trump administration’s efforts to turn it into a U.S. company.”

“Sen. Amy Klobuchar, a potential pick for U.S. Attorney General, said today that the Justice Department should consider asking for a breakup of Google as it pursues an antitrust case against the search giant.”

“Tencent Holdings Ltd. expressed willingness to cooperate with authorities and played down the potential effect of China’s toughening regulatory environment as a boom in video gaming triggered by pandemic lockdowns continued to power the tech company’s performance in the latest quarter.”

“Walmart Inc. is placing “pop-up” e-commerce fulfillment centers inside dozens of its regional distribution facilities as it braces for an expected crush of online sales during the holiday season.”

“Twitter Inc. plans to continue its policy of labeling what it deems misleading information, despite persistent criticism from President Trump and other conservatives that it silences their commentary on the election.”

“Shares of sports betting company DraftKings jumped more than 11% in premarket trading Friday after the company reported better-than-expected third quarter results and a surge in users.”

“The latest coronavirus vaccine developments have brightened the outlook for the U.S. economy, with UBS economists boosting their GDP forecasts for the country.”

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