Reels in 150+ countries🌏, Good Creator Co. 🤝🏻 Bulbul, Ad guidelines for crypto assets⚖

Facebook launches Reels globally, Good Creator Co. to acquire Bulbul, Guidelines for marketing crypto assets, What is Series A?, Funding Deals & more.

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Feb 24, 2022

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Facebook launches Reels in more than 150 countries🌏

Facebook is launching its short video feature Reels to more than 150 countries, looking to quickly expand its fastest-growing content format.

New test brings Reels to Facebook in the US - The Verge

The social media giant, which recently lost a third of its market value after a dismal earnings report, has highlighted Reels as a key priority.

"Reels is already our fastest-growing content format by far, and today we're making it available to everyone on Facebook globally," Meta CEO Mark Zuckerberg said in a Facebook post on Tuesday.

Good Creator Co. likely to acquire video commerce startup Bulbul🤳🏻

Good Creator Co (GCC), an offshoot of the Good Glamm group, is acquiring video commerce platform Bulbul in a cash and stock deal, in another major consolidation move in the creator and influencer economy space.

As part of the deal, Bulbul's founder Sachin Bhatia will take over GCC's chief executive, sources said.

The acquisition is expected to help GCC ramp up its influencer-led social commerce play and use Bulbul's tech stack to help creators launch digital storefronts.

Founded in 2018, Bulbul was among the first cohort of startups experimenting with live commerce. When that failed to gain traction, last year it pivoted to digitizing storefronts for creators, shops, and sellers and influencer-led sales in a pre-recorded video format.

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`What is Series A funding?`

The Series A is the second stage of capital raising by a startup. This is the first round of venture capital financing. The Series A financing is used to ensure the company keeps its growth momentum. In this round, product development milestones are set and new talent is acquired. This round also tracks the business progress using seed capital and the efficiency of the management team.

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aastey, an athleisure wear brand for women of all body types has bagged Rs10 crore in a funding round led by Kalaari Capital.
Staffing platform Gigforce has raised $2 million from venture fund Meraki Labs.

Ad body issues guidelines for marketing crypto assets⚖

The Indian advertising industry’s self-governing body has introduced guidelines for promotion and advertising of cryptocurrencies and nonfungible tokens (NFTs) amid growing concerns about ads targeting retail investors.

The guidelines will apply to all advertisements published after April 1, 2022.

The Advertising Standards Council of India (ASCI) said all virtual digital asset (VDA) products and services should carry the disclaimer: “Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.”

These guidelines come after several crypto platforms had to pause large-scale television and print advertisements after facing criticism from the government and industry stakeholders about the misleading nature of some ads.