Mobile

Under-the-radar payments app True Balance just clocked $100M in GMV in India – TechCrunch

Published

4 years ago

June 3, 2019

Away from the limelight of urban cities, where an increasingly growing number of firms are fighting for a piece of India’s digital payments market, a South Korean startup’s app is quietly helping millions of Indians pay digitally and enjoy many financial services for the first time.

The app, called True Balance, began its life as a tool to help users easily find their mobile balance, or topping up pre-pay mobile credit. But in its four-year journey, its ambition has significantly grown beyond that. Today, it serves as a digital wallet app that helps users pay their mobile and electricity bills, and it also lets users pay later.

One thing that has not changed for the parent company of True Balance, BalanceHero, which employs less than 200 people, is its consumer focus. It is strictly catering to people in tier-two and tier-three markets — often dubbed as India 2 and India 3 — who have relatively limited access to the internet, and lower financial power. And it remains operational just in India.

Even as India is already the second largest internet market with more than 500 million users, more than half of its population remains offline. In recent years, the nation has become a battleground for Silicon Valley giants and Chinese firms that are increasingly trying to win existing users and bring the rest of the population online.

And like many other companies, BalanceHero’s bet on India is beginning to pay off. The startup told TechCrunch today that it has clocked $100 million in GMV sales and has amassed about 60 million registered users. Yongsung Yoo, a spokesperson for the startup, added that BalanceHero, which has raised $42 million to date, is also nearing profitability.

The South Korean firm’s playbook is different from many other players that are racing to claim a slice of India’s burgeoning digital payments market. True Balance competes with the likes of Paytm, MobiKwik, Google, Amazon and Walmart-owned Flipkart, though its competitors are still largely catering to the urban parts of India.

In the last two years, many firms have begun to explore smaller cities and towns, but their services are still too out-of-the-world for local residents. Raising awareness about digital services is a big challenge in such markets, Yoo said, so the startup is relying on existing users to help others make their first transactions and in paying bills.

Yoo said the startup rewards these “digital agents” with cash back and other benefits. For these digital agents, many of whom do not have a day job, True Balance has emerged as a side project to make extra money.

Later this year, Yoo said the startup, which recently also added support for UPI in its service, will open an e-commerce store on its app and also offer insurance to users. To accelerate its growth and expansion, True Balance is in the final stages of raising between $50 million to $70 million in a new round that it expects to close in July this year, Yoo said.

Source link

Mobile

The first round of Disney layoffs begins this week, CEO Bob Iger shares in memo

Published

4 hours ago

March 27, 2023

Francisco Peguero

In February, Disney CEO Bob Iger told shareholders in an earnings call that the company plans to lay off 7,000 employees as part of a significant restructuring. Today, in an internal memo to employees, which TechCrunch was able to obtain, Iger revealed that there will be three rounds of layoffs, with the first beginning this week.

“This week, we begin notifying employees whose positions are impacted by the company’s workforce reductions,” Iger wrote. “Leaders will be communicating the news directly to the first group of impacted employees over the next four days. A second, larger round of notifications will happen in April with several thousand more staff reductions, and we expect to commence the final round of notifications before the beginning of the summer to reach our 7,000-job target.”

The job cuts will reportedly affect Disney’s media and distribution segment along with ESPN and the parks and resorts division, according to CNBC.

“For our employees who aren’t impacted, I want to acknowledge that there will no doubt be challenges ahead as we continue building the structures and functions that will enable us to be successful moving forward. I ask for your continued understanding and collaboration during this time,” Iger added.

Iger returned as CEO in November 2022, replacing Bob Chapek. Since the takeover, Iger has already made significant organizational changes to the company. In addition to the layoffs, the company will also cut down on spending. Disney plans to cut $5.5 billion in costs, including $3 billion in content spend.

Iger has also admitted to being “open-minded” about the sale of Hulu, which Comcast partially owns.

Despite Disney’s direct-to-consumer division increasing in revenue by 13% to $5.3 billion, the company reported an operating loss of about $1.1 billion, which it blamed on higher costs at Disney+ and Hulu.

While Disney+ reported its first-ever subscriber loss in Q1 2023, the company noted that its streaming business — Disney+, Hulu and ESPN+ — will become profitable in late 2024. Netflix is one streaming service that has managed to turn a profit.

Disney+ lost 2.4 million global subscribers in the first quarter of 2023. However, it managed to gain 200,000 subs in the U.S. and Canada. Hulu and ESPN+, on the other hand, added 800,000 and 600,000, respectively.

Disney’s annual shareholder meeting is set to occur on April 3.

As media companies continue to face losses in the current market, many are adopting the same strategy as Disney. In 2022, Warner Bros. Discovery dealt with job cuts and removed HBO Max content as it confronts a debt load of $53 billion. This company intends to save $3 billion in 2023.

Mobile

You can now bundle Frontier internet with YouTube TV on the same bill

Published

5 hours ago

March 27, 2023

Francisco Peguero

YouTube TV announced today that it expanded its partnership with internet service provider Frontier to launch a single billing option, which will allow customers in the U.S. to bundle fiber internet with YouTube TV on one bill.

YouTube TV teamed up with Frontier in 2021 to give customers access to fiber internet and a live TV streaming service. However, they had to pay the providers separately. Today’s launch of integrated billing will make it more convenient for users.

Also, Frontier fiber internet customers will now get $10 off the YouTube TV subscription for one year, whereas existing Frontier TV customers will receive $15 off.

The offering is likely to convince customers to switch to YouTube TV as Frontier no longer offers its TV service. After filing for bankruptcy in 2020, Frontier stopped offering cable television in 2021.

Many cable TV companies have decided to either launch streaming services or partner with services like YouTube TV. For instance, in 2021, Disney announced plans to shut down hundreds of cable channels as it shifted focus to its flagship streamer Disney+.

“Our partnership with YouTube TV makes it easier for customers to ditch cable,” John Harrobin, Frontier’s Executive Vice President of Consumer, said in a statement. “We take our position as the un-cable provider seriously and are constantly listening to consumers. Many want one source for internet and TV, and that’s what this partnership is all about.”

It’s important to note that Frontier is only available in 25 states. However, YouTube TV also partners with other internet companies, such as Verizon.

YouTube TV has more than five million paid subscribers and trialers in the United States. Earlier this month, the company increased its subscription price to $72.99 per month, up from $64.99.

Mobile

Here’s how to stream Major League Baseball games in 2023

Published

6 hours ago

March 27, 2023

Francisco Peguero

Major League Baseball (MLB) regular season is back this week, with Opening Day beginning on Thursday, March 30. MLB Opening Day 2023 will be one to watch since all 30 teams play their first game of the regular season on the same day– the first time since 1968 when such an event occurred.

With so many major league teams, it can be tricky to figure out where and how to watch the games you want to watch—especially for cord-cutters. For instance, nationally televised games will be broadcast on Fox, FS1, TBS, ESPN and MLB Network, whereas local team’s games will air on regional sports networks (RSNs).

Another channel worth watching is MLB Network Strike Zone because it provides highlights, updates, scores, standings and stats from teams across the league. The channel broadcasts on Wednesdays and Fridays, when several games are going on at once, to ensure you don’t miss out on the action.

Plus, this year will be the second time that Apple TV+ is the exclusive home of “Friday Night Baseball” games. Peacock also livestreams exclusive MLB games with its Sunday morning package, “MLB Sunday Leadoff.”

In total, the MLB regular season consists of 2,430 games.

Here are some of the best live TV streaming services to watch MLB games this 2023 season:

MLB.TV
DirecTV
Sling TV
Fubo
Hulu Live TV
ESPN+
YouTube TV

Starting off with an obvious one, MLB.TV is a streaming package that Major League Baseball directly offers.

The subscription costs $24.99 per month or $149.99 per year and allows fans to watch every out-of-market game, making it a great option for viewers who want to watch a team that doesn’t play in their home city.

While MLB.TV subscribers won’t be able to watch a livestream of their local team, the games are available to watch on-demand 90 minutes after they end.

Fans can sign up for MLB.TV either on the MLB website or through streaming services like Prime Video and Fubo.

The most expensive on the list is DirecTV’s “Choice” plan, which is $84.99 per month. Fortunately, the plan is also the most comprehensive, with access to every national MLB channel, including Fox, FS1, TBS, ESPN and MLB Network.

You’ll most likely get your local RSN as well, depending on your location.

DirecTV also has the MLB Extra Innings add-on, which is $149.99 per season, and gives you every out-of-market game along with MLB Network Strike Zone and MLB Extra Innings Mix, which lets users stream up to eight games at the same time.

Sling TV, on the other hand, is arguably the best bang for your buck. For $70 a month, users can sign up for the Orange & Blue bundle ($55/month), as well as the Sports Extra add-on ($15/month), to get access to Fox, FS1, TBS, ESPN, MLB Network and MLB Network Strike Zone.

However, there are no RSNs or out-of-market games on Sling TV.

Fubo (formerly FuboTV) offers MLB Network, MLB Strike Zone, ESPN, Fox, FS1 and RSN coverage. One caveat is that Fubo doesn’t broadcast TBS.

Fubo has three subscription plans: Pro ($74.99/month), Elite ($84.99/month) and Premier ($94.99/month).

The streaming service recently announced it is launching an MLB.TV add-on for $24.99 per month.

Hulu Live TV is great for fans who want to watch nationally broadcast games on FOX, TBS and ESPN. However, the streamer doesn’t have as many RSNs as it used to, so there may be blackout restrictions. For example, Hulu Live TV doesn’t offer RSN groups like AT&T SportsNet and Bally Sports.

Also, out-of-market games aren’t available on Hulu Live TV.

ESPN+ is home to daily regular-season games that air live on ESPN. Note that MLB games on ESPN+ may have local blackout restrictions.

While YouTube TV ($72.99/month) dropped MLB Network this year, it still carries most RSNs and national networks like Fox, ESPN, and TBS.

The reason YouTube TV dropped MLB Network was because of a carriage dispute, which is becoming more common recently. These disputes are making it very difficult for sports fans to find RSNs across both live TV streaming services and linear television.

Plus, YouTube TV is another streaming service that doesn’t offer Bally Sports RSNs.

Speaking of Bally Sports, 19 of its RSNs may be in trouble. Recently, Diamond Sports Group (DSG), an independent subsidiary of Sinclair Broadcasting Group that owns these 19 RSNs, filed for bankruptcy.

But the good news is that Major League Baseball will likely take over the RSNs if DSG is no longer able to broadcast them.

Here are some of the most important dates to keep an eye on this season, including Opening Day, which starts at 1:05 p.m. ET with the first two games scheduled: Atlanta Braves vs. Washington Nationals and San Francisco Giants vs. New York Yankees.