| Weekly News Roundup |
| 1. SaaS company buys Sportadmin for almost 150 MSEK – Breakit Swedish SaaS veteran Lime acquires Sportadmin, a company that develops software for sports clubs with clients including Allsvenskan champions MFF and BK Häcken. The initial price for 85% of the company amounts to 149 million SEK. “Malmö-based Sportadmin, founded by Henrik Lehmann and Rikard Persson, has attracted over 1500 associations and one million members to date. The preliminary turnover for 2023 amounts to 46 million SEK with an EBITDA margin of 17 percent. In 2022, Sportadmin generated a turnover of 38.6 million SEK with a loss of 2.4 million SEK.” Read more 2. Swedish AI app for stocks attracts 75,000 users – Dagens industri In a short time, the Swedish AI company EQL Global has reached 75,000 users with its app providing real-time brief analyses of stocks. The premium subscription has, so far, attracted 300 paying customers. “The company hopes that the main revenues will come from corporate customers. EQL Global has secured its first B2B customer and aims to establish a presence with several Swedish analysis firms and banks.” Read more 3. This e-commerce site charges a monthly fee of $1,000 just to browse the products – Techcrunch A new luxury goods e-commerce startup dubbed Long Story Short has a provocative concept: it’s $1,000 per month to join for the privilege of shopping its curated collection. “The founder, known best for his 2010s e-commerce site The Fancy, an upscale shoppable Pinterest rival, says high-net-worth individuals demand more in terms of privacy and security from their online experience — something that shopping a luxury marketplace often does not provide.” Read more 4. Thomson Reuters buys World Business Media – Reuters Thomson Reuters has acquired World Business Media Limited, a subscription-based provider of news and analysis on the insurance and reinsurance market. The London-based company of about 25 employees will join the Reuters News division of Thomson Reuters. Its products reach 45,000 professionals. “World Business Media is the latest in a string of acquisitions undertaken by Thomson Reuters as part of its plan to expand offerings for its professional clients. In August, the company closed its $650 million cash acquisition of Casetext, a California-based AI company that helps legal professionals conduct research, analysis and prepare documents using generative AI.” Read more 5. Spotify attacks Apple’s ‘outrageous’ 27% commission – BBC Apple has announced it will permit app developers to sell products in places other than its own store – but only if they still pay commission. The fees were introduced as a result of a long-running legal battle with Fortnite developer Epic Games. Spotify said that was “outrageous” and accused Apple of “stopping at nothing” to protect its profits. “Apple charges the biggest developers a 30% fee to use this system, though smaller developers pay around 15%, and 85% of developers don’t pay a fee at all. As a result of the ruling, Apple has introduced a new set of rules in the US which will allow people to subscribe to services without using its system, but it will charge developers up to a 27% commission to do so.” Read more 6. Microsoft offers $20 consumer AI subscription to boost business – Reuters Microsoft has announced that consumers and small businesses can buy subscriptions to access more capabilities in its artificial intelligence “Copilot,” as it moves to grow sales beyond large enterprises. The company said it was removing a 300-person minimum requirement to buy the enterprise version of the software. “The subscription will add a text-drafting, number-crunching AI assistant to Microsoft’s widely used applications including Word and Excel, and it will give purchasers access to new tools and AI models such as GPT-4 Turbo.” Read more Weekly Analysis Roundup 1. Solidcore says Subscriptions take over wellness industry as consumers seek convenience – PYMNTS The wellness industry is shifting toward subscription models as consumers look for convenient, predictable services and as companies in the space aim to drive recurring revenue, believes strength training company Solidcore. “He added that the brand’s recently launched Core Collective program, which provides members with perks such as deals and discounts with six external brands ranging from makeup companies to meal kits, can help keep consumers engaged long-term.” Read more 2. CNN boss plans to merge newsgathering ops, explores digital subscription model – Reuters EO Mark Thompson plans to combine all newsgathering operations of the news network into one unit that would serve its television, streaming and digital platforms. He is also looking to monetize CNN’s offerings, potentially through subscriptions, he said in an interview. “CNN-parent Warner Bros Discovery appointed Thompson to the CEO role last year, tasking the former New York Times and BBC chief with reviving the news network beset with sagging ratings and falling profits.” Read more 3. ‘Adjustable’ is the new ‘agreeable’: BNPL flexibility for subscription success – PYMNTS Buy now, pay later is quickly becoming a preferred choice for consumers, particularly for millennials. Subscription merchants that seize this opportunity can capitalize on BNPL’s potential to drive revenue growth and to build a larger, more sustainable subscriber base, writes PYMNTS. “The surge in retail BNPL usage during peak shopping periods this past year highlights its potential to boost sales and operational efficiency for subscription merchants. Beyond merely driving conversions, BNPL could act as a strategic lever for sustaining subscriber loyalty and mitigating churn, especially after introductory discounts end.” Read more |
