Citing ‘global market uncertainties’, Sea flatlines Shopee India – MovieUpdates

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Hello and welcome to Daily Crunch for Monday, March 28, 2022! Alas, I knew this day would come, and here it is. Christine and hi will be taking over my Daily Crunch bits from now on, although I’ll be back every now and then to fill in when they’re on break. Not that I’m leaving MovieUpdates. Not a little. I’m on my way to work on MovieUpdates+ as my main project, so I leave you in their very capable hands.

As a supplement, Walter will continue to write the MovieUpdates+ section, for which I am very grateful. It has been a huge treat to write for you here for so many months. Big hug, and good luck! † Alex

The MovieUpdates Top 3

  • Sea’s Shopee closes operations in India: Singapore’s Sea is closing its Shopee e-commerce business in India, but not for the reason you might think. While the announcement follows India’s decision to ban Sea’s popular title “Free Fire” in the country last month, MovieUpdates reports that the company insists the reason is “uncertainties in the global market.” The Shopee site was less than a year old.
  • Apple wins an Oscar: If you watched the Oscars last night, you definitely walked away with one takeaway: that AppleTV+ was the first streaming service to win best picture. Nothing else about the event stood out, no sir. Nothing. There are no tweets, takes, or other content that discusses other Oscar events. Just that Apple beat Netflix to the height of Oscar-dom.
  • Is the boot delay here? We’re a few days away from a deluge of startup data for the first quarter of 2021, but there are some tremors we can feel that indicate that, yes, the funding market is slowing. Very much? It’s too early to say. In fact, a slowdown from all-time records does not indicate a correction, let alone a startup recession. Money is still flowing and funds that have raised huge pools of capital have yet to allocate it, delay or not.

Startups and VC

Elon Musk may be threatening to roll up his own social media platform, but Amanda eloquently argues today why it’s too early to whine about it on Twitter. “When it comes to Musk actually pushing through with his crazy Twitter ideas, his track record isn’t great,” she concludes dryly.

It appears that French accelerator The Family is going through a bitter family feud, with one of its co-founders being charged with alleged counterfeiting and “diverting €3 million that would be invested in several startups”

Oh, and don’t miss Natasha’s Startups Weekly newsletter, where she takes a closer look this week at how we’re trying to reinvent startup accelerators over and over again.

Use RevOps to develop a customer-centric approach to B2B sales

Conceptual image of a gold piggy bank and a stethoscope isolated on pure white, selective focus on the piggy bank

Image Credits: malamus-UK (Opens in a new window) / Getty Images

Employees are hired to perform one specific task, which can put even novice startups in a silo.

Companies that find ways to integrate their sales flow and customer success operations have an advantage, writes Erol Toker, founder and CEO of Truly.co.

“To optimize your unique path to better connect with customers, you need a multidisciplinary team that focuses solely on that goal and sees the customer as their guiding star,” Toker says. “We call that RevOps.”

(MovieUpdates+ is our membership program that helps founders and startup teams get ahead. You can sign up here.)

Big Tech Inc.

  • Pinterest is adding $1.2 million to its creator fund: Building a creator fund is a step that platforms are taking to encourage more users to create things for their website or app. That’s the basics. Pinterest has a smaller creator fund than some of its rivals, but it has had a welcome focus on raising money for underrepresented people. MovieUpdates reports that the former startup has set aside an “additional $1.2 million in a combination of cash grants, ad credits and other resources for creators for underrepresented groups.” More of this, please.
  • Spotify makes finding new podcasts easierSpotify is a bit in the news at the moment, rolling out a new podcast discovery tool – linked to its $50 million acquisition of Podz last summer – and shutting down its services in Russia over the draconian “fake news” -laws of the country banning Russia’s brutal invasion of Ukraine that contradicts Russian narratives.
  • Fine Apple Netherlands reaches max: I’m not sure if Apple sighs with relief, as fines hit the $55 million cap following an antitrust order over payment technology for dating apps. This is after Apple amended its most recent offering, with MovieUpdates reporting that the amended proposal “should lead to final terms for dating app providers.” The company could face more fines if regulators disagree.
  • SpaceX halts production of Crew Dragon capsules: For those of you who were worried that SpaceX would continue making new Crew Dragon capsules, don’t worry. Instead, the company says four is enough and will focus on refurbishing its current fleet, which we report is “the only reusable vehicle used by NASA to transport astronauts to and from the ISS.”
  • PayPal’s Happy Returns Service Now Free: PayPal Checkout merchants can now take advantage of the Happy Returns returns and exchange software for free. Ulta Beauty is leading the move by rolling out Return Bars at its 1,300 locations. Since PayPal took over the software and logistics service in 2021, the number of Return Bars has grown to more than 5,000.
  • TikTok is testing a feature so you never lose a video again: Sometimes you’re just not ready to watch a video, but when you go looking for it, you can’t. This was such a problem that users posted their own solutions. Well, TikTok hears you and is now testing a “watch history” feature for your “For you” page so you can recover any antics you missed.

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