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Equity

Equity Monday: Instagram pauses youth product as Amplitude, Warby Parker prep public offerings

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2372 Ratings

🗓️ 27 September 2021

⏱️ 11 minutes

🧾️ Download transcript

Summary

This is Equity Monday, our weekly kickoff that tracks the latest private market news, talks about the coming week, digs into some recent funding rounds and mulls over a larger theme or narrative from the private markets. You can follow the show on Twitter here. I also tweet. A few things this morning: Instagram is pausing work on the kids-focused version of its social service. It claims that the product is the right thing to build, but that it wants to talk to folks about why, first. TechCrunch has more here. Shares of Box are up this morning, after the company endured a period of time in the wilderness. Google is cutting its cloud app marketplace take rate as marketplaces more broadly lose their ability to accrete economic value as middlepeople. Spotify is spending to advertise its advertising solution so that others can spend more money on Spotify. Swiss startup Frontify raises $50 million, more than double its previous round's size. And from Sweden, EV company Polestar may go public via a SPAC, as EV company Cake raises $60 million. Nice to see Sweden do so well in a key business category. Tesla is doing FSD stuff, which confuses us. And looking ahead, Amplitude will set a reference price this evening and direct list tomorrow. Warby Parker will set an IPO price tomorrow evening, and trade on Wednesday. And that's that! Chat Wednesday! Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Good morning everybody and happy Monday taking a look around the world stocks are mixed

0:14.9

shares fell in China they rose in Japan here in America it's a little bit mixed of course the

0:20.3

ever grand situation still really matters as does the possible US default

0:24.3

because Congress is doing whatever Congress does and of course people are keeping eyes

0:28.4

on the economic activity around the world in this delta period of the COVID era. Now looking around this morning there's a

0:34.4

couple of meaty issues that I'm chewing on which will follow up with some startup news

0:38.1

but the goal as always to get you up and running and informed in as few words as possible.

0:43.6

Talk about including Spotify and Box and App Stores and advertising

0:48.1

and of course some startup news as well.

0:49.8

Our goal is to get you up and running

0:51.8

in as few words as possible.

0:53.6

As I was writing my notes this morning, news dropped from Facebook Land.

1:00.6

Yes, Instagram announced it able to pause its work on a product called

1:04.0

Instagram for Kids, which just by the name alone you're probably thinking great we

1:08.7

don't need an Instagram for kids there's already Instagram kids use it.

1:12.0

Ahh anyways Facebook claims that it is the right There's already Instagram. Kids use it. Ah!

1:13.2

Anyways, Facebook claims that it is the right product to build, but does say that it's going

1:17.0

to quote use this time to work with parents and experts and policy makers to demonstrate

1:21.2

the value and need for this product.

1:23.7

Now, what is that need?

1:25.5

Well, Facebook's argument, as far as I can tell, reading the blog post this morning,

1:29.1

hinges around the idea that kids are getting phones younger and younger and what do they do with those phones?

...

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