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Mobile News - Week of June 15, 2020

Issue #96 — View online — Suggest a link

The latest news and information about startups and innovations from the mobile world.

Are startups getting too fat?
For the past few years, mega-funds drown companies with boatloads of capital.  Here are the top 10 private companies ranked by total funding raised. Again, the dollar amount listed below is not valuation, but the total funding amount.
  1. JUUL - $13.4 billion
  2. WeWork - $10 billion
  3. Airbnb - $5.4 billion
  4. Argo AI - $3.6 billion
  5. Waymo - $3 billion
  6. Magic Leap - $3 billion
  7. SpaceX - $3 billion
  8. Rivian - $2.8 billion
  9. Kabbage - $2.5 billion
  10. SoFi - $2.3 billion
  11. Faraday Future - $2.3 billion
I am not against raising big funding rounds. Of course, you need capital to invest in growth and key priorities for the company. But raising too much capital sometimes could be a blessing and a curse. 
Instead of having a clear company strategy that drives the money you need, you may fall into the trap of letting money drives your company strategies. After all, there is no point to brag about how much money you raised. Funding is just a means to an end. It is revenue, profit, traction, product-market fit and growth that truly matters and you should brag about that.
It’s time to focus on what matters. 
Here are the top mobile news this week >
  • Apple -$519 billion in commerce
  • Apple - 30% under fire
  • Apple - Indian supply chain
  • Google - subscriptions outside of the app
  • Tiktok - $500M revenue
  • Whatsapp - Brazil payment launch
  • Instagram - 25% of young Americans get news from Instagram
  • Contact tracking - they all do it

Apple says its App Store facilitated $519B in commerce in 2019
Apple’s App Store policies are bad, but its interpretation and enforcement are worse
Inside Apple’s Search for an Indian Supply Chain
Google is launching a way to buy Android app subscriptions outside of the app itself –
TikTok’s U.S. Revenues Expected to Hit $500 Million This Year
WhatsApp finally launches payments, starting in Brazil
Instagram Becomes Major Source of News
Tech Firms Are Spying on You. In a Pandemic, Governments Say That’s OK.
Techstars Startup Digest Mobile is curated by:
Edith Yeung Edith Yeung - General Partner at Race Capital
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