Welcome to this week’s edition of the RoundUp. Job cuts are still ongoing as Uber reduced its headcount. Facebook launched its Workplace feature while announcing a partnership with ecommerce giant, Shopify.
Thanks for always reading and sharing and if you’re a new reader, It’s good having you aboard.
- Uber has announced a deep cut to its workforce by 3,000. It is noteworthy it had a layoff of 3,700 in April. This total of 6,700 job cuts in the past month represents 25% of its total staff strength. Link
Why this is important : Since the appointment of Dara Krosrowshahi from Expedia, his preoccupations have been making Uber regulator-friendly and cost-efficient while finding profitability. Although profitability eludes it, Uber has surpressed costs and UberEats, its food delivery business , has shown promising signs of profit.
This layoff is a good signal it is on the path to a green bottonline as it goes lean and deep with planned acquisition of Grubhub. The rise in its stock price is also a nod from the markets that it is headed the right direction.
- Kevin Mayer, head of Disney’s Streaming business has left for Tiktok US. Before his appointment, he was head of Direct-to-Consumer and international divisions of the Walt Disney Company. He was once head of Disney’s Internet Group. Link
Why this this important : Tiktok may need him to dim the regulatory searchlight and scrutiny as lawmakers consider the app a data-gathering entity sponsored by Its parent company Bytedance, considered a member of Chinese Communist party.
With experience in the internet arm of the business, especially streaming, it is a fitting appointment towards growth in the US considering internet penetration.
Importantly, he has experience managing products with similar demography as majority of Tiktok’s users.
- Shopify has announced its partnership with Facebook. This partnership gave birth to a new product/feature called Facebook Shops. According to Shopify, Facebook Shops ‘ is a new and free tool helping merchants create a customized online store front for Facebook and Instagram’. Nigeria’s payment processor, Flutterwave few weeks ago, created its Shop feature as well.
This is a good sign that social commerce is here to stay. Earlier this month, Shopify had a similar partnership with Pinterest. Link
Why this is important :
Seeing this is free, we would likely witness a rise in the number of Facebook and Instagram sign-ups/account openings. This gives Facebook enough leverage to try out and receive feedback on Libra, its cryptocurrency.
Shopify hinted in the announcement that this feature will grow in functionality, it means we may see more iterations in future coming out of this partnership.
- Imo state governor, Hope Uzodinma announced via his Twitter account a reduction in the Right of Way charges to N145,000 per kilometer. This is following similar announcement by Ekiti state last week. Link
Why this is important :
With this, Imo state opens a new vista of opportunity for internet and internet-enabled businesses in the South East beyond Enugu state.
- Twitter has rolled out a new feature that effectively prevents non-mentioned users from commenting on a tweet or conversation. Link
Why this is important : This could swing both ways. It could be a conversation killer and reduce Twitter’s Daily Active Users (DAUs) or it could encourage people to tweet more knowing they don’t run the risk of interruptions and distractions.
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Shopify employees may permanently work from home: Link