Last week, Facebook made a 9.9% stake in India's top telecom provider Jio. This is India's largest direct investment in the tech sector. Facebook is after Jio's app layer and penetration in small businesses, hoping to tap into the growing e-commerce sector and finally monetize WhatsApp.
Despite seeing a downturn for Q1 ad revenue from Facebook and Google, revenues have been stabilizing in April. Global advertising revenue tends to grow at roughly the same rate as GDP, so any global economic slowdown will likely take down the advertising market. Therefore, will ad revenue be a leading or a lagging indicator? It might be too early to tell during Covid-19's, but at least we can point to some additional data points for insights.
PrivCo is the premier financial data & services company that tracks US private companies with roughly $1M+ in annual revenues.
Funding & Deal Highlights: Bonsai raises $1.5M to help students get professional guidance via virtual 1-on-1s Niche’s one-stop-shop for college searchers raises a $35M Series C
Amid stock market turbulence, investing app Stash raises $112M led by LendingTree Reveal Mobile announces Series A funding
Taysha Gene Therapies Launches with $30 Million Seed Financing Rapid7 to acquire security management company DivvyCloud
Affiliates of Sun Capital Partners Complete Sale of Boston Market UWorld Acquires RxPrep to Offer Online Learning for Aspiring Pharmacists
Take a Seat, Amazon Q2 Earnings
Amazon is spending 4 billion dollars on COVID efforts. [Read More]
Apple scooping up startups
More horizontal deals, PEs sitting on the sideline. [Read More]