Amazon Buys Premier League Rights
Amazon is set to screen 60 English Premier League games over the next three years.
Editor’s Remarks: The announcement by the Premier League followed the revelation back in February that Sky and BT paid just £4.7bn for their screen rights compared to over £5.1bn in the previous year. The Premier League said that the lower figures were due to weak demand from broadcasters for two of its rights packages. Amazon has since purchased one of those packages for an as yet undisclosed sum. The sale marks the first time a major tech company has made the foray into the UK’s most-watched sports competition. Amazon will stream 20 matches a season over the next three years.
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Revolut Announces Trading App
The fintech startup has announced that it is working on yet another feature for its app.
Editor’s Remarks: The trading app will resemble the American Robinhood trading app, which charges zero commission, and will offer transatlantic public shares, options and ETFs. While Americans have had access to Robinhood for a while, Europeans still have to log on to usually rather old-fashioned brokerage accounts. Revolt intends to not charge commission fees but instead generate revenue on margin trading and securities lending. Revolut has launched a huge number of features in recent months, including cryptocurrency trading, that have left its rivals Monzo and N26 trailing.
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Deliveroo’s PoS Integration
Deliveroo is rolling out point of sale (PoS) integrations for restaurants that use its platform.
Editor’s Remarks: Presently, restaurant staff are required to manually enter Deliveroo food orders on their in-house sales software. The new feature will enable restaurants to use an API and developer portal to integrate their software with the Deliveroo app and remove this cumbersome task from their staff’s to-do list. Deliveroo says that the integration will take order processing time down from two-and-a-half minutes to just 30 seconds, while the integration can be executed by “tech savvy restaurants” in just two weeks. 500 restaurants are using the integration at the moment and Deliveroo expects uptake to explode over the year.
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Coinbase Seeks a Broker License
The US digital exchange is taking steps towards being a federally regulated broker-dealer.
Editor’s Remarks: Coinbase’s COO revealed that the company is currently applying for a broker-dealer license that will enable it to offer blockchain-based securities. The application follows last year’s ruling by the SEC that DAO tokens, which are tokens that carry voting rights but no other function on a blockchain network, are securities. Coinbase’s move highlights the difficulty that token issuers and online exchanges face when dealing in tokens, some of which may fit within existing definitions of securities, while others do not. Coinbase has recently acquired a number of brokerage firms, including Keystone Capital, Venovate Marketplace and Digital Wealth.
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Uber Rival Gett Raises $80m
The round was led by VW and values the startup at $1.4bn.
Editor’s Remarks: Unlike its cousin Uber, which has expanded without ever generating a profit, Gett reckons that it will be profitable by Q1 2019. The latest round of funding pushed Gett’s valuation to firmly within unicorn territory but leaves it still far smaller than Uber, which is currently raising cash at a huge $62bn valuation. Nevertheless, the funds will enable Gett, which currently operates in 120 cities, to cross the profitability milestone that all companies must cross at some point. Overall, Gett has raised $700m to date and its largest markets are New York, London and Moscow.
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