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My handshake brings all the boys to the mall
Amazon’s retail marketplace is a huge, slow-growing business. Social media commerce is just a fraction of online shopping, but it’s full of excitement and growth.
Still, Amazon is well positioned to capitalize on the growth of social app-based shopping. The company has advertising partnerships with Pinterest, Snapchat, Facebook and Instagram. which are extremely beneficial for Amazon Advertisingbecause all data and the direct customer relationship remain stored on the platform.
And Amazon’s partnerships with Meta Apps and Snapchat allow Amazon products to be purchased without leaving the app. Again, it is Amazon, not the social network, that claims payment and the direct customer relationship.
Amazon is close to signing deals with TikTok and Pinterest that would also allow purchases without users having to leave their apps. The information reports.
For Amazon, this trend is an admission that it cannot simply artificially build its own social network or live shopping app, or clumsily fit for Twitch into the role.
For Meta, the partnership with Amazon is worth giving up the main benefit – customer and payment information – if users get used to shopping through Instagram and Facebook.
This could explain Amazon’s internal name for the new in-app social shopping product: “Project Handshake.”
How do you like the apples?
The Apple updates are once again causing devastating damage to publishers, this time on two different fronts.
First, Ad age reports that Apple is testing a new feature in Safari called “Distraction Control” that hides website pop-ups and autoplay ads. Technically, it’s not an ad blocker—the effect is temporary and depends on user input—but for some publishers and advertisers, it could well be one.
As part of Apple’s new DMA compliance plan, developers in the EU are now allowed to link to external purchasing options outside of iOS apps. Except, as The edge As Apple notes, Apple charges these developers high “store service fees,” which are charged even if the user never clicks on the external link.
In other words, if the developer even shows the ability to subscribe or make purchases around the iOS fee, Apple will still add another 20% fee regardless of whether the user makes that purchase or not.
The new policy continues a long-standing trend that Apple is proposing remedies to antitrust decisions that directly contradict the essence of the law or decision and demonstrate Apple’s brazen refusal to comply with regulators.
So many companies, so little capital
Being a venture capitalist is just so hard These days, sources tell Business Insider.
For years, the venture capital industry was considered a hot, lucrative new career path in the business world (and easy prey for frustrated entrepreneurs and political progressives), but recent market downturns and rising interest rates are causing the industry a lot of grief.
This year, VC firms will reportedly raise 48% less funding than in 2021. Some are missing their funding goals, others are laying off employees. Not to mention all the complaints about increased competition, fewer opportunities for junior investors, and “lengthy” cold emailing processes.
Maybe the V in VC should stand for “violin,” as in “the smallest in the world.”
All joking aside, a lot of money that then remains relatively stagnant is not good for any industry, including the venture capital industry. Just look at how the ad tech industry is struggling with a similar decline in investment.
But wait, there’s more!
Amid these uncertainties, Silicon Alley leaders are collectively shrugging off the news about Google’s cookies on their quarterly earnings calls. (Digiday)
Don’t rely on “kidfluencers” for your social advertising strategy. (Ad age)
Warner Bros Discovery shuts down Cartoon Network’s streaming site to redirect viewers to its Max subscription service. (diversity)
Chrome is the silent linchpin of Google’s dominance. (ProMarket)
You are hired!
Spring Xu Rouhana becomes new CFO of eyeo. (Share)
