August 13 – 5 Key Stories From The Digital World

By August 12, 2019 Insight

1. Roblox announces new game-creation tools and marketplace, $100M in 2019 developer revenue

  • gaming platform Roblox  announced its new milestone of 100 million monthly users — topping Minecraft
  • Over the past decade or so, Roblox has grown to become a $2.5 billion company, with roughly half of U.S. children ages 9 through 12 playing on its platform
  • Today, there are more than 2 million Roblox game creators worldwide, ranging from indie developers to studios with teams of 10 or 20 people

2. Nike rolls out a subscription service for kids’ sneakers

  • Whether for streaming, productivity software, health-tracking apps, clothing or deliveries, companies are increasingly adopting a subscription model to keep customers hooked and bring in revenue
  • Kids can outgrow (or ruin) shoes quickly, so having a pair drop into one’s mailbox every so often could help parents save time and money, if they opt for the monthly option in particular
  • The company had been testing the model under the radar for a couple of years, enticing around 10,000 members to a service called Easy Kicks through Facebook ads

3.  On-demand food delivery app Postmates is set to unveil its IPO filing in September

  • The filing will be the first look at the company’s financials. Postmates was most recently valued at $1.85 billion, and has raised a whopping $681 million in private venture funding
  • report comes on the heels of competitor DoorDash’s $410 million purchase of Caviar from payments company Square on August 5
  • market for on-demand food delivery has taken center stage ahead of rumored public debuts from Postmates and DoorDash

4. Allied Esports Entertainment goes public in deal with Black Ridge Acquisition

  • known for creating the Esports Arena at the Luxor Hotel with MGM Resorts International in Las Vegas, and it is also known for its World Poker Tour events
  • “…marks the beginning of a new category in gaming – esports entertainment – that brings together the best of this burgeoning industry… to create experiences and content around the world across all communities”
  • TV Azteca and Allied Esports will continue to work together to expand the esports landscape in Mexico through a number of initiatives

5. Venmo launches instant transfers to bank accounts

  • news of an expanded Instant Transfer service comes at a time when Venmo is seeing increased competition from rivals including Square’s Cash App and the bank-operated Venmo challenger, Zelle
  • Thanks to its built-in customer base and integrations with U.S. banking apps, Zelle reported $44 billion sent on 171 million transactions in Q2 2019, making it the largest peer-to-peer payment app in the U.S. by a wide margin
  • However, with more than 40 million active accounts, Venmo has more users than some of the U.S.’s bigger banks