Facebook updating main feed📱, Bounce scooters on Flipkart🛵, Disney Star bags Cricket Australia media rights🏏

Fb updating main feed to attract younger users, Bounce to sell its electric scooters on flipkart, Disney Star bags media rights for $280 Mn, Funding Deals & more.

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Jul 22, 2022

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Meta's Facebook updating main feed to attract younger users📱

Meta Platforms said on Thursday it was updating the main feed on its Facebook app to prioritize "discovery" of new content, instead of posts from accounts users follow, a bid to style its apps after short-form video competitor TikTok.

Meta executives have voiced increased urgency in recent months around boosting the company's "Reels" product, similar to TikTok's short video format that has attracted many younger users.

"Home", Facebook's main news feed tab that users will see when they open the app, will start more heavily featuring popular posts from accounts that users do not follow, including Reels and Stories, Meta said in a statement.

Facebook will suggest posts to users with its machine learning ranking system and is investing in artificial intelligence (AI) to serve recommended content, it added. A new separate tab called 'Feeds' will offer a version of the old approach, which overwhelmingly features posts from friends, pages and groups that users actively choose to follow.

Bounce to sell its electric scooters through Flipkart🛵

Electric scooter maker Bounce will start selling its Infinity brand scooters through homegrown ecommerce marketplace Flipkart from July 22.

Bounce will deliver the scooter to customers' homes within 15 days of booking.

Initially, customers from New Delhi, Gujarat, Karnataka, Telangana, and Maharashtra will be able to access the product while getting the benefits of state subsidies for electric vehicles.

This is the first time electric scooters are sold through an ecommerce platform.

Rival Ola Electric sells through its own app, while other players like Ather Energy and Hero Electric sell through dealerships.

Hot Shorts⚡

Edtech platform for kids Creative Galileo has raised $7.5 million (about Rs 60 crore) in funding from a clutch of investors, including Kalaari Capital, Affirma Capital, and East Ventures.
DrinkPrime, a subscription-based reverse osmosis (RO) water supplying startup, has raised Rs 60 crore ($7.5 million) in a mix of equity and debt funding led by Omidyar Network India, Sequoia Surge, and 9Unicorns.
MD Food Product, which runs gourmet cheese company Cremeitalia, has raised $600,000 (Rs 4.6 crore) from BL Taparia Family Office.
Fintech startup Backspace Tech has raised $450,000 from strategic investors including Mohan K & Jai Kumar, Founders of Ippopay (Fintech), Omar Bin Brek, UAE-based founder of Foloosi (fintech) along with M2P Founders and Other Angel Investors.

➡️ Check out our LinkedIn space to read more on the funding deals.

Disney Star bags Cricket Australia media rights for seven years for $280 Mn🏏

Disney Star has outbid Sony Pictures Networks India (SPN) to pick up media rights of Cricket Australia (CA) for the next seven years for around $280 million, a person directly aware of the development said.

This includes both television and digital rights, as well as clips and other footage, for the Indian subcontinent.

The deal will also include the Big Bash League, the homegrown T20 format league of Australia, as well as women’s tournaments.

The news comes a month after Disney Star secured the TV rights of the Indian Premier League (IPL) for the next five years by bidding Rs 57.5 crore per match, or Rs 23,575 crore.