Facebook Launches Rap App

Tech News Roundup: February 26, 2021

Recent developments in the tech world include Facebook’s launch of a new app, Atlassian’s acquisition of a data visualization company, and Newsela achieving unicorn status. This summarizes the key events from February 26, 2021.

Facebook's New Rap App: BARS

Facebook, through its NPE Team R&D division, has introduced a novel application called BARS. This app is specifically designed for rappers.

BARS allows users to create and share raps and accompanying videos, utilizing a selection of professional beats. Features include autotune and rhyme suggestions to aid lyric writing.

This launch represents the second musical venture from NPE Team, following the release of the Collab music video app. It can also be viewed as Facebook’s continued exploration of the short-form video market, similar to TikTok.

Currently, BARS is available on the iOS App Store within the U.S., with access granted to users gradually from a waitlist.

Tech Giant Updates

Atlassian is expanding its capabilities through the acquisition of Chartio. This move aims to enhance data visualization within the Atlassian platform.

Atlassian intends to leverage Chartio to unlock the potential of data currently stored within its suite of products.

Yelp has released its inaugural trust and safety report. This report details the company’s efforts to combat fraudulent and inaccurate content on its platform.

Startup Funding and Venture Capital

Newsela, a provider of alternative educational materials, has secured $100 million in funding, achieving a valuation of over $1 billion and becoming a unicorn.

Newsela’s goal is to provide content that can fully replace traditional textbooks in classrooms, offering teachers fresh and personalized learning resources.

Tim Hortons is strengthening its presence in China with a new investment from Tencent. This funding will support the company’s Chinese operations.

Lightspeed is reportedly recruiting Paul Murphy, formerly of Northzone, as a new partner based in London. This move signifies Lightspeed’s commitment to expanding its European footprint.

Extra Crunch Insights

Effective freemium marketing relies heavily on product analytics. Even small improvements in conversion rates can significantly boost revenue, given that most freemium services convert fewer than 5% of free users to paid subscriptions.

A review of earnings from buy-now-pay-later (BNPL) companies like Klarna, Affirm, and Afterpay reveals the growing popularity of this payment model. BNPL transforms a single purchase into a series of manageable installments.

(Extra Crunch is a membership program designed to support founders and startup teams. Details on subscription options can be found here.)

Other Notable News

Jamaica’s JamCOVID platform was taken offline following a third security breach that compromised traveler data. The platform was initially created to streamline traveler processing.

AT&T is restructuring its business by spinning off DirecTV as a separate company. AT&T will retain a 70% ownership stake, while TPG will hold the remaining 30%.

Norwest’s Lisa Wu advises founders to adopt a venture capitalist’s mindset when delivering pitch presentations, particularly during the crucial one-hour TC Early Stage pitch.

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