Introduction:
In this week’s edition of Startups Weekly, we’ll be covering a range of topics, from the latest developments with TikTok to the power of influencers and some intriguing startup stories. We’ll also dive into notable fundraises and explore other unmissable stories in the tech world.
Ticktock, TikTok: The popular video-sharing app TikTok has had a rollercoaster week. While it continues to expand its offerings with a Twitter competitor and a luxury secondhand shop in the U.K., it faces challenges in the U.S. The House of Representatives has passed a bill giving TikTok’s parent company a nine-month ultimatum to sell or face extinction in the country. This move has sparked debates about free speech rights and the impact on businesses. As TikTok navigates these challenges, its future in the U.S. remains uncertain.
How powerful are influencers?: This week, we witnessed the influence of popular YouTuber Marques Brownlee, also known as MKBHD. With over 18 million subscribers, MKBHD has the ability to make or break a company with his honest product reviews. The recent backlash after he labeled a product as “the worst” highlights the impact influencers can have on businesses. This phenomenon raises questions about the role of YouTubers and their power to shape public opinion.
Most interesting startup stories from the week:
1. Poetry Camera: An iOS app called Mood.camera is bringing back the nostalgia of analogue photography. By eliminating live previews and editing features, the app focuses on vintage filters and embraces the uncertainty of how photos will turn out. For a monthly fee, users can experience the thrill of capturing unexpected moments like in the days of film cameras.
2. Poetry Camera: Kelin Carolyn Zhang and Ryan Mather have developed an AI-powered Poetry Camera. Instead of capturing typical photos, this camera generates thought-provoking poetry based on visual encounters. It prints out the poetic masterpiece on paper, adding a physical touch to the digital experience. The Poetry Camera presents an interesting fusion of technology and art.
A date shared is a risk halved: Tinder has introduced a new feature called “Share My Date” that allows users to share details about their upcoming dates with friends directly from the app. This feature aims to enhance safety and provide users with a digital third-wheel experience. By sharing information about their plans, users can feel more secure while navigating the world of online dating.
Good grief: DayNew, a new social platform, addresses the lack of suitable resources available for individuals dealing with trauma and grief. Created by two widows-turned-entrepreneurs, this platform aims to provide support and assistance during the grieving process. DayNew’s founders recognized the need for a dedicated space where individuals can connect with others who have experienced similar loss.
No loans for you, students: BloomTech, formerly known as Lambda School, has faced consequences from the U.S. Consumer Financial Protection Bureau (CFPB) due to its handling of income share loans and job placement statistics. The CFPB has imposed a 10-year ban on BloomTech’s consumer lending activities, highlighting the importance of transparency and accountability in the education sector.
Most interesting fundraises this week:
1. Pascal: Lab-grown diamond startup Pascal has secured nearly $10 million in venture capital funding. With a focus on affordable cultured gems, Pascal aims to disrupt the traditional diamond market. This funding demonstrates the growing interest in sustainable and accessible alternatives to natural diamonds.
2. Rippling: Founder Parker Conrad has confirmed that Rippling, a company specializing in employee management platforms, has closed a $200 million funding round at a valuation of $13.4 billion. The initial goal was to provide liquidity for early employees, but investor interest exceeded expectations. Conrad hints at future plans for taking the company public.
Other unmissable stories:
Tesla’s challenges: Tesla has faced significant challenges, including a 55% drop in profits, pricing struggles, factory incidents, and production delays. Despite efforts to lower electric vehicle prices, the company has encountered obstacles. The success of Tesla’s future plans remains uncertain, but the company continues to navigate a competitive and evolving market.
Form 4 by Formlabs: Formlabs, a leader in desktop 3D printing, has unveiled its latest product, the Form 4. This upgraded version offers faster print times, a larger build volume, and impressive resolution. The Form 4 represents a significant advancement in desktop 3D printing technology, making it more accessible and efficient for users.
Amazon’s Prime Air drone delivery: Amazon’s drone delivery operations in Lockeford, California, have been discontinued. While Amazon has not provided specific reasons for this decision, the experiment continues in Texas and will soon expand to Arizona. This development highlights the challenges and complexities of implementing drone delivery on a large scale.
Farewell to Post News: Post News, a microblogging platform funded by a16z, is shutting down. Despite its initial promise, the platform struggled to compete with established players like Twitter. This closure serves as a reminder of the competitive nature of the social media landscape and the difficulty of gaining traction in a crowded market.
Rewind becomes Limitless: Rewind, a platform aimed at recording and searching through digital life, is rebranding as “Limitless.” In addition to their digital services, they are introducing a pendant that records conversations. This innovative approach raises questions about privacy concerns and the desire for physical mementos in a digital world.
Hiring in robotics: Brian compiled a comprehensive list of 74 robotics companies that are currently hiring. From Advanced Construction Robotics to Exotec, there are numerous opportunities for individuals interested in the robotics industry. This compilation highlights the growth and demand for skilled professionals in this field.
In conclusion, this week’s Startups Weekly brought us insights into the challenges faced by TikTok, the influence of YouTubers, and intriguing startup stories. We also explored notable fundraises and delved into other captivating stories from the tech world. Each of these developments contributes to the ever-evolving landscape of startups and technology, showcasing the innovation and resilience of entrepreneurs and businesses.