1. Indian Startup Freshworks Debuts In Nasdaq, Raised Over $1B In IPO (ET) Chennai and San Mateo-based Freshworks Inc is the first Indian software company to debut on the Nasdaq after completing an initial public offering (IPO) worth $1.3 billion, with a record market capitalization of $10.13 billion. The company sold 28.5 million shares at an offer price of $36 per piece, inspiring more startups to join the race. 2. US Digital Grocery To Garner $122B In Sales In 2021 (EMarketer) The US digital grocery market is expected to skyrocket this year to reach $122.39 billion at the rate of 12.3% growth. 142.9 million consumers, equal to 51.5% of the US population, are expected to make at least one digital grocery purchase this year. Digital grocery sales grew 63.9% YoY in 2020 and are poised to reach $243.67 billion by 2025. 3. Google Adds New Advertiser Pages To Promote Transparency (AdAge) Google announced that it will show consumers more data related to ads that brands run on its platforms for the past 30 days to add more transparency and explain the way marketers use it. Google’s ad catalogs, called “advertiser pages,” will be accessible through the “about this ad” tab that accompanies ads on YouTube and search. 4. Apple’s iOS Data Changes To Lower Conversions By 15%: Facebook (AdAge) Facebook has announced that the ad performance on its platform was down with Apple’s privacy changes for iOS users. With most users opting out of tracking, advertisers may find it difficult to target ads and Facebook warns that it will result in increased ad prices and lower conversions by 15%. 5. Facebook To Harness News Feed To Reshape Its Brand Image (NYT) As part of a broader, aggressive, and strategic push to reshape its image, Facebook announced a new initiative called “Amplify”, which harnesses the potentialities of its news feed to boost its image, which suffered heavily earlier this year. Facebook used news feed earlier to promote its products and social issues. 6. Amazon To Reap $27.59B In US B2B ECommerce Site Sales In 2021 (EMarketer) The US B2B eCommerce site sales are expected to reach $1.583 trillion in 2021 and Amazon Business that offers B2B eCommerce platforms will increase its US product sales by 43.5% YoY to reap $27.59 billion. Amazon Business holds only 1.7% of the total B2B sales. Ever since its inception in 2015, it has been growing consistently by 50% each year. 7. YouTube Testing Video Download Feature For Desktop Users (AndroidPolice) YouTube is testing a video download feature that lets premium customers download and playback at convenience on Windows, MacOS, and Chrome OS. YouTube wants to help consumers to avoid location-specific challenges in video downloads. This feature remains permanent, once the experimental phase ends by October 15. |