Snapchat Spotlight Updates - Daily Crunch

Snapchat unveils a TikTok-inspired feed, Amazon Echo Buds incorporate fitness tracking capabilities, and Vettery completes an acquisition of Hired. This is your Daily Crunch for November 23, 2020.

Key development: Snapchat introduces Spotlight

Snapchat has launched a dedicated section for viewing brief, engaging videos, functioning similarly to TikTok. This update follows the recent addition of TikTok-like music functionalities to the application last month.

Beginning today, users can submit their Snaps to the new Spotlight feed. Viewers can send direct messages to creators who have public profiles (Spotlight will also feature anonymous submissions from private accounts), though public commenting on videos will not be available.

To incentivize content creation for Spotlight, Snapchat has announced a daily distribution of over $1 million to those who produce the most popular videos on the platform.

Major technology companies

Amazon’s Echo Buds now offer enhanced fitness tracking features — Simply state “Alexa, begin my workout” while wearing the earbuds, and they will automatically record steps taken, calories burned, distance covered, running pace, and workout duration.

Uber’s request to dismiss 11 employees at its EMEA headquarters was denied — The Dutch Employee Insurance Agency has refused Uber’s petition to terminate the employment of 11 staff members at the company’s EMEA regional office.

Facebook launches ‘Drives,’ a US-based initiative for gathering food, clothing, and essential items for individuals in need — This feature is integrated within Facebook’s existing Community Help center.

Startups, funding, and venture capital news

Relativity Space secures $500M in funding as it focuses on the industrialization of Mars — The Los Angeles-based rocket company experienced significant growth in 2020, finishing construction on a new 120,000-square-foot manufacturing facility in Long Beach.

Resilience obtains over $800M to revolutionize pharmaceutical production in response to the COVID-19 pandemic — The company will dedicate substantial investment to the development of innovative manufacturing technologies for cell and gene therapies, viral vectors, vaccines, and proteins.

Video mentorship platform Superpeer raises $8M and introduces paid channels — The Superpeer platform enables experts to advertise, schedule, and charge for individual video consultations with those seeking their guidance.

Insights and analysis from Extra Crunch

Seven key takeaways regarding Sequoia’s European expansion strategy — Steve O’Hear conducts an interview with Luciana Lixandru and Matt Miller to discuss the firm’s future plans.

Founders in search of initial funding should establish a fundraising sales pipeline — Proactive preparation is crucial when seeking investment.

Will Brazil’s economic resurgence in the 2020s lead to the emergence of early-stage startups? — In September, domestic startups achieved a record $843 million in funding.

(Extra Crunch is our subscription service, designed to provide accessible information about startups. A 25% discount on annual memberships is available until November 30.)

Additional news

Vettery acquires Hired to establish a ‘comprehensive’ job search platform — Vettery CEO Josh Brenner stated that the two platforms offer complementary services.

Gift Guide: Determining which next-generation console is ideal for your child — This holiday season, many young gamers will be hoping to receive the latest gaming consoles.

Original Content podcast: ‘The Crown’ presents its Princess Diana — The current season centers on Queen Elizabeth’s relationship with Prime Minister Margaret Thatcher, and on Prince Charles’ challenging marriage to Diana, Princess of Wales.

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