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Facebook prototypes Favorites for close friends microsharing – TechCrunch

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Facebook is building its own version of Instagram Close Friends, the company confirms to TechCrunch. There are a lot people that don’t share on Facebook because it can feel risky or awkward as its definition of “friends” has swelled to include family, work colleagues and distant acquaintances. No one wants their boss or grandma seeing their weekend partying or edgy memes. There are whole types of sharing, like Snapchat’s Snap Map-style live location tracking, that feel creepy to expose to such a wide audience.

The social network needs to get a handle on microsharing. Yet Facebook has tried and failed over the years to get people to build Friend Lists for posting to different subsets of their network.

Back in 2011, Facebook said that 95% of users hadn’t made a single list. So it tried auto-grouping people into Smart Lists like High School Friends and Co-Workers, and offered manual always-see-in-feed Close Friends and only-see-important-updates Acquaintances lists. But they too saw little traction and few product updates in the past eight years. Facebook ended up shutting down Friend Lists Feeds last year for viewing what certain sets of friends shared.

Then a year ago, Instagram made a breakthrough. Instead of making a complicated array of Friend Lists you could never remember who was on, it made a single Close Friends list with a dedicated button for sharing to them from Stories. Instagram’s research found 85% of a user’s Direct messages go to the same three people, so why not make that easier for Stories without pulling everyone into a group thread? Last month I wrote that “I’m surprised Facebook doesn’t already have its own Close Friends feature, and it’d be smart to build one.”

How Facebook Favorites works

Now Facebook is in fact prototyping its a feature similar to Instagram Close Friends called Favorites. It lets users designate certain friends as Favorites, and then instantly send them their Facebook Story or a  camera-based post from Messenger to just those people, each in their own message thread.

The feature was first spotted inside Messenger by reverse engineering master and frequent TechCrunch tipster Jane Manchun Wong. Buried in the Android app is the code that let Wong generate the screenshots (above) of this unreleased feature. They show how when users go to share a Story or camera post from Messenger, they can instantly send it over chat to everyone on in their Favorites, and edit who’s on that list by adding up to 10 people manually or from algorithmic suggestions. For now Favorites isn’t an audience for sharing Stories like Instagram Close Friends is, but you could imagine Facebook expanding Favorites to have that functionality down the line.

[Update: Facebook had originally confirmed Favorites was for sharing via Stories, but later corrected itself saying posts are sent to Favorites via Messenger.]

 

A Facebook spokesperson confirmed to me that this feature is a prototype that the Messenger team created. It’s an early exploration of the microsharing opportunity, and the feature isn’t officially testing internally with employees or publicly in the wild. The spokesperson describes the Favorites feature as a type of shortcut for sharing to a specific set of people. They tell me that Facebook is always exploring new ways to share, and as discussed at its F8 conference this year, Facebook is focused on improving the experience of sharing with and staying more connected to your closest friends.

Unlocking creepier sharing

There are a ton of benefits Facebook could get from a Favorites feature if it ever launches. First, users might share more often if they can make content visible to just their best pals, as those people wouldn’t get annoyed by over-posting. Second, Facebook could get new, more intimate types of content shared, from the heartfelt and vulnerable to the silly and spontaneous to the racy and shocking — stuff people don’t want every single person they’ve ever accepted a friend request from to see. Favorites could reduce self-censorship.

“No one has ever mastered a close friends graph and made it easy for people to understand . . . People get friend requests and they feel pressure to accept,” Instagram director of product Robby Stein told me when it launched Close Friends last year. “The curve is actually that your sharing goes up and as you add more people initially, as more people can respond to you. But then there’s a point where it reduces sharing over time.” Google+, Path and other apps have died chasing this purposefully selective microsharing behavior.

Facebook Favorites could stimulate lots of sharing of content unique to its network, thereby driving usage. After all, Facebook said in April that it had 500 million daily Stories users across Facebook and Messenger posting from the camera, and the same number as Instagram Stories and WhatsApp Status.

Before Instagram launched Close Friends, it actually tested the feature under the name Favorites and allowed you to share feed posts as well as Stories to just that subset of people. And last month Instagram launched the Close Friends-only messaging app Threads that lets you share your Auto-Status about where or what you’re up to.

Facebook Favorites could similarly unlock whole new ways to connect. Facebook can’t follow some apps like Snapchat down more privacy-centric product paths because it knows users are already uneasy about it after 15 years of privacy scandals. Apps built for sharing to different graphs than Facebook have been some of the few social products that have succeeded outside its empire, from Twitter’s interest graph, to TikTok’s fandoms of public entertainment, to Snapchat’s messaging threads with besties.

Instagram Threads

A competent and popular Facebook Favorites could let it try products in location, memes, performances, Q&A, messaging, live streaming and more. It could build its own take on Instagram Threads, let people share exact location just with Favorites instead of just what neighborhood they’re in with Nearby Friends or create a dedicated meme resharing hub like the LOL experiment for teens it shut down. At the very least, it could integrate with Instagram Close Friends so you could syndicate posts from Instagram to your Facebook Favorites.

The whole concept of Favorites aligns with Facebook CEO Mark Zuckerberg’s privacy-focused vision for social networking. “Many people prefer the intimacy of communicating one-on-one or with just a few friends,” he writes. Facebook can’t just be the general purpose catch-all social network we occasionally check for acquaintances’ broadcasted life updates. To survive another 15 years, it must be where people come back each day to get real with their dearest friends. Less can be more.



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Snapcommerce raises $85M to make over your mobile shopping experience – TechCrunch

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People are not only shopping digitally more than ever. They’re also shopping using their mobile phones more than ever.

And for mobile-first companies like Snapcommerce, this is good news.

Snapcommerce, formerly known as SnapTravel, has raised $85 million in what the company is describing as a “Pre-IPO” growth round to help further its mission of “changing the way people shop on their phones.”

The Toronto, Ontario-based startup has built out an AI-driven, vertical-agnostic platform that uses messaging in an effort to personalize the mobile shopping experience and “deliver the best promotional prices.” While it was initially focused on the travel industry, the company is now branching out into other consumer verticals – hence its name change.

Inovia Capital and Lion Capital co-led the new growth round, which included participation from Acrew DCF, Thayer Ventures, Full In Partners as well as existing backers Telstra Ventures and Bee Partners. The financing brings Snapcommerce’s total raised since its 2016 inception to over $100 million. Its last raise — a $7.2 million round from Telstra and NBA star Steph Curry — took place in 2019.

The startup was founded by tech entrepreneurs Hussein Fazal, whose prior company AdParlor grew to $100+ million in revenue, then sold to AdKnowledge back in 2011; and Henry Shi, who previously built uMentioned and worked at Google, where he helped launch YouTube Music Insights, according to previous TechCrunch reporting.

Snapcommerce co-founders Henry Shi and Hussein Fazal, Image courtesy of Snapcommerce

Snapcommerce launched its first, travel-focused product in 2017. It works by using chatbots to interact with customers via messaging apps such as SMS, Facebook and Whatsapp. But the company also has human agents ready to help if people need more assistance, in the past essentially serving as on-demand travel agents.

Its service is not just for hotels and flights, but also to help people book restaurants and activities too.

“Our focus has been on building that personal relationship,” Fazal said. “Many people end up coming back to us when they travel again.” In fact, over 40% of its sales in 2020 came from repeat customers.

Over the years, the company claims to have helped more than 10 million users globally save over $75 million. It expects to cross over $1 billion in total mobile sales this year.

And now it’s ready to branch out into helping consumers save money on goods.

“When shopping, it’s hard to find the right product and even if you do, it’s hard to find a good deal,” he said. “On a desktop, there’s ways around it. But on mobile, it’s virtually impossible.”

The company turned the corner to profitability three months into the pandemic in 2020, seeing a 60% spike in sales in the second half of the year compared to H2 2019, according to CEO Fazal.

It then decided to re-invest its profits to continue growing the business.

“The profitability during the pandemic gave us confidence that we could turn to profitability whenever we needed to and gave us control of our own destiny, which enabled this fundraise,” Fazal told TechCrunch. “The third quarter of 2020 ended up being our greatest quarter ever.”

The COVID-19 pandemic, naturally, only accelerated its growth as more consumers turned to mobile.

“We believe the next wave of power purchasers will be via mobile,” Fazal said. “Some of the new generation don’t even have desktops or laptops, and they spend all their time on their mobile phone and messaging. So we’re able to be at the forefront.” 

Snapcommerce has an IPO in its sights although no specific timeline. The company did not reveal its current valuation or hard revenue figures. The company makes money by either marking up prices provided by a merchant or charging the merchant a commission.

Chris Arsenault, partner at Inovia and Snapcommerce lead investor, said his firm “tripled up” on its investment in the startup after witnessing its success in the travel space.

“Other companies out there only care about the transaction, and force consumers to look through several services to see if they got the best price, all the while telling them ‘there’s only 2 seats left,’ ” he told TechCrunch. “We believe that consumers aren’t going to accept that type of pressure-selling in the future. And Snapcommerce’s ability to build trust with its customers and service providers has attracted us to them as they are defining what the future of commerce is going to be like.”

Ultimately, the company plans to use its fresh capital to continue to scale with the goal of streamlining the entire mobile search, purchase and fulfillment process and make finding “the right item at the right price as sending a message to a trusted friend.”


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Square buys majority of Tidal, adds Jay Z to its board in bid to shake up the artist economy – TechCrunch

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This morning Square, a fintech company that serves both individuals and companies, announced that it has purchased a majority stake in Tidal, a music streaming service. The deal, worth some $297 million, will Tidal allow artist-partners to keep their ownership in the music company.

Square CEO Jack Dorsey used his other company, Twitter, this morning to explain the deal. Dorsey seemed to expect the transaction to generate skepticism – which it definitely has. In his opening message, he asked a rhetorical question: “Why would a music streaming company and a financial services company join forces?!”

Why indeed. Dorsey’s expectation is that his company can replicate the success of Cash App and other Square products in the world of music. Noting that “new ideas are found at the intersection,” Dorsey argued that the confluence of “music and the economy” is one such point of convergence.

The deal also installs musician and businessperson Jay Z on Square’s board.

Some early reaction to the deal has proved negative. It’s not hard to riff on the seeming-strangeness of Square and Tidal as a pair. And Square has made acquisitions in the past that appeared adjacent and failed to stick. The company bought food-delivery service Caviar in 2014 before selling it to DoorDash in 2019, for example; that Square appears to have made a venture-level return on the transaction is immaterial to the focus argument.

But the bull-case for the Square-Tidal tie-up is easy to make as well. The American fintech just spent a minute fraction of a single percent of its market capitalization on the smaller company, and through its choice to let artists keep their stake, has effectively onboarded a host of ambassadors for its brand.

And Dorsey is not wrong that Square did shake up the commerce game for many offline businesses with its original card reader. Why not take a swing at a part of the economy — music — that has migrated from the physical world to the digital in the past few years, much like small businesses in recent quarters?

Square’s business users, it’s “seller ecosystem,” as it likes to call it, are increasingly digital. In its most recent quarterly earnings report, “in-person only” usage is falling as a percentage of seller gross payment volume (GPV), while “online only” and “omnichannel” GPV are taking up the slack.

Square has a known win in its consumer-focused Cash App service, which reached 36 million monthly actives in December of 2020, up from 24 million in the same period one year prior. You can imagine tie-ups between the music company and the youth-skewing Cash App audience. And having Jay Z at the Square boardroom table will hardly make the company less innovative; he may bring fresh perspective.

And then there’s the question of NFTs, or non-fungible tokens, a new form of digital asset that have recently become the cause célèbre of the cryptocurrency community. Given that Square has a growing cryptocurrency business via Cash App, and has invested hundreds of millions of dollars into bitcoin itself. If there is space in the market for Square to bring music-based NFTs to its larger consumer user base is an interesting question. If the answer is yes, Square could now be in a leading position to create that market.

Perhaps the Square-Tidal deal won’t generate the future growth that Square imagines. But the deal is cheap, snagging Jay Z as a leader is a win, and it’s hard to win by only playing corporate defense.

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Twitter Spaces arrives on Android ahead of Clubhouse – TechCrunch

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Twitter announced today it’s opening up its live audio chat rooms, known as Twitter Spaces, to users on Android. Previously, the experience was only open to select users on iOS following the product’s private beta launch in late December 2020. The company says that Android users will only be able to join and talk in Spaces for the time being, but won’t yet be able to start their own.

That added functionality is expected to ship “soon,” Twitter says, without offering an exact timeframe.

The company has been working quickly to iterate on Twitter Spaces in the months since its beta debut, and has been fairly transparent about its roadmap.

Last month, the team developing Twitter Spaces hosted a Space where users were invited to offer feedback, ask questions, and learn about what Twitter had in the works for the product in both the near-term and further down the road. During this live chat, Twitter confirmed that Spaces would arrive on Android in March.

It also promised a fix to how it displays listeners, which has since rolled out.

Other Spaces features are being shared in public as they’re designed and prototyped, including things like titles and descriptions, scheduling options, support for co-hosts and moderators, guest lists, and more. Twitter has also updated the preview card that appears in the timeline and relabeled its “captions” feature to be more accurate, from an accessibility standpoint.

The time frame of some of its new developments  — like Android and scheduling options — were being promised in a matter of weeks, not months.

This fast pace has now led Twitter to beat its rival Clubhouse — the app currently leading the “social audio” market — to offer support for Android. Today, Clubhouse remains iOS-only in addition to being invite-only.

It’s also indicative of the resources Twitter is putting into this new product, which was first announced publicly just in November. Clearly, Twitter believes social audio is a market it needs to win.

The company also sees the broader potential for Spaces as being a key part of a larger creator platform now in the works. During its Investor Day last week, Twitter spoke of tying together its new products like Spaces, Newsletters along with a “Super Follow” paid subscription, for example.

It’s now also testing a Twitter “Shopping Card” that would allow users to tweets posts that link directly to product pages via a “Shop” button — a feature that would seem to fall under this new creator focus, as well.

Some Twitter users on Android had already found their way to Spaces before today’s announcement by way of the Twitter beta app on Google Play.

But now, a separate beta app won’t be required — when live Spaces are available, they’ll appear at the top of the Twitter timeline for Android users to join.

 

 

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