The 11th Hour Dispatch — Wednesday, August 1, 2018
YOUNG MONEY
Grab, the company that killed Uber in Southeast Asia (at a fairly steep cost, mind you) has landed an additional $2 billion (with a b) in additional funding, including a whopping $1 billion (with a b) from auto-maker Toyota. The company also raised $2 billion (with a b) last year, which gave it the ammunition to acquire Uber’s Southeast Asia assets. Grab’s post-money valuation is now $11 billion (with a b), and they plan to use the money to expand additional O2O (offline-to-online) services (hint: allowing traditional offline services to tap the internet to reach new customers). I would spend a billion dollars a lot differently, just sayin’…
BINGE WATCH
It’s no surprise that streaming media is on the rise, and the trend is steadily continuing. According to market research firm The NPD Group, 17% of US consumers relied solely on SVOD services to get their video over the last year. That’s up from 11% in 2017. The study found that while around 42% of adults 25 to 34 subscribe to 3 or more streaming services, that age group is plateauing. More interesting is the fact that, “[a]lthough Millennials were the first to adopt SVOD, Gen X and Boomers are now driving the growth among those subscribing to multiple services.” Cool, old people are using our stuff again, time to find something new now…
NOTHIN’ BUT ‘NET
Kiki, do you love me? Apparently local police forces don’t.
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