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October 12 2020

The other problem is that people are not downloading as many apps. In fact, the average person will download zero apps every month. What does that mean for all of us? How do we fix the problem? The answer is super apps. 

The super app concept has been proven successful. Meituan, a popular food delivery service in China is one of the leaders. In 2013, Meituan started thinking about what other revenue streams it could create—they added a button on top where you could start booking hotel nights. Today, Meituan is responsible for booking nearly 50 percent of hotel stays in China. The previous big player, Ctrip, is down to 22 percent.

You can also find attractions, nightlife, movie tickets, bike-sharing, and much more on Meituan. The company took a high-frequency, low-margin business—food delivery—and tacked on more low-frequency, high-margin businesses at low (or zero) customer acquisition costs. Meituan is leveraging its distribution and understanding of its customers, thinking what other revenue streams can I create with that mindshare?

In the Spotlight - The Mind Share Game

PayPal is entering a new era as it completes its separation from longtime parent eBay. Since splitting off in 2015, it has made critical acquisitions and started lines of business that should continue to increase revenue. Given the PayPal ecosystem and the growth of the fintech industry generally, PayPal stock could trade at significantly higher levels five years from now.

After lowering the barrier to entry for e-commerce companies to start selling online, Shopify is expanding its business on the back of the network of more than 20,000 app developers and agency partners that help augment those businesses as they grow, offering tools for things like customer service and inventory management and strategic insight. Shopify opened the online floodgates for retail’s highly competitive direct-to-consumer era, and in the aftermath, created a new economy around its business that helps keep its merchants, and therefore its own business, afloat.

Meituan-Dianping is the super app of the year. The platform was born in 2013 from the union of the two companies as a channel for food delivery and today includes over 30 different services, mostly related to tourism and F&B. All these services communicate with each other. The synergy between the world of customer service and the digital world is increasingly strong thanks to the progressive digitalization of services. There are now several government offices that have co-opted the super apps to allow citizens to renew their driving licenses, pay bills, or even “queue up” in the hospital. All from the comfort of your smartphone.

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Since last week, PrivCo has added:
3738 Companies | 131 Funding Activities | 129 M&A Deals

Funding & Deal Highlights:

Surgalign Holdings, Inc., a global pure-play spine company focused on advancing spine surgery including through the application of digital technologies to improve patient outcomes, today announces that it has entered into a definitive agreement to acquire Holo Surgical Inc., a Chicago-based private technology company developing the revolutionary Augmented Reality and Artificial Intelligence platform, to enable digital spine surgery. Total consideration for the transaction is valued at up to $125 MM, consisting of consideration valued at $42 MM payable at closing in cash and shares plus potential future milestone payments. The transaction is expected to close during the fourth quarter of 2020, subject to customary closing conditions.

Performance technology company Hyperice has completed a Series A funding round for $48 MM, which puts the firm at a $700 MM valuation.

Halo Labs Inc. is pleased to announce it has closed the transaction with 1263141 B.C. Ltd. d/b/a Cannafeels on the terms described in the press release dated September 23, 2020 (the “Transaction”).

Social Native, a marketplace technology company that empowers marketers to source and optimize visual content to improve brand awareness and performance, announced the acquisition of Olapic, a leading user-generated, influencer, and short-form video content platform for hundreds of brands worldwide.

UnitedHealth Group (UHG) has acquired Illinois-based online pharmacy startup DivvyDose for about $300 MM, according to sources familiar with the matter.  Founded in 2015, divvyDOSE is a full-service personalized pharmacy focused on those with multiple chronic conditions and complex medication regimens. Customers receive a personalized roll of pre-sorted medications into individual packs, with clearly marked dates and times.

Uberall and its digital marketing subsidiary ReachLocal to become their premier provider of presence management solutions, said a press release from Uberall. As part of the agreement, Uberall will acquire SweetIQ subsidiary. Providing local digital marketing services, the SweetIQ team will join Uberall and become part of a new Montreal hub, the company’s seventh location outside its Berlin headquarters.

Dyad Medical, a groundbreaking medical image analysis platform delivering cloud-based artificial intelligence (AI)-based analysis, announced after just 90 days, the closing of its oversubscribed Series Seed funding round led by The Unofficial Syndicate, with participation by Social Starts L.P., and local angel investors. Along with grants from the NIH, this brings Dyad's total funding to more than $3.5 MM.

Braintrust, a network for freelance technical and design talent that launched over the summer, is announcing that it has raised $18 MM in new funding.

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