Facebook Targets Substack with Newsletter Platform Bulletin

Social media giant Facebook recently unveiled Bulletin, a near-clone of the newsletter platform Substack. Despite its complicated relationship with journalists, Facebook thinks it can succeed by offering them better terms; whereas Substack takes a 10 percent cut of writers’ revenue, Bulletin will take nothing — at least for now. Best-selling authors Malcolm Gladwell and Mitch Albom will be among the first Bulletin writers. Facebook chief executive Mark Zuckerberg said the goal is to “support millions of people doing creative work.” Continue reading Facebook Targets Substack with Newsletter Platform Bulletin

Startup Substack Invests $1 Million in Local News Journalism

Substack is home to writers who establish their own publications. Now the email newsletter startup will spend $1 million total for one-year stipends for up to 30 journalists interested in covering local news. A few writers already use Substack for subscription-based local news sites and co-founder Hamish McKenzie said there are “encouraging signs” that the model works for reporting and local news. Former Vanity Fair editor Jon Kelly is building an online newsletter where writers will share in the subscription revenue. Continue reading Startup Substack Invests $1 Million in Local News Journalism

Cameo Connects Celebs with Fans, Reaches $1B+ Valuation

Chicago-based Baron App Inc. launched Cameo four years ago to enable celebrities to sell messages and personalized videos to fans, for anywhere from $5 to $2,500+. The company recently tripled its 2019 valuation of about $300 million to $1+ billion, with a $100 million funding round led by e.ventures and participation by SoftBank Group’s Vision Fund 2, professional skateboarder Tony Hawk, United Talent Agency and Alphabet’s venture-capital arm GV. Baron App previously raised $50 million for Cameo in 2019. Continue reading Cameo Connects Celebs with Fans, Reaches $1B+ Valuation

Facebook Developing a Product to Rival Chat App Clubhouse

According to sources, Facebook is developing an audio chat product to compete with Clubhouse, a social networking app that has gained popularity with young people who gather and chat about various topics. Facebook chief executive Mark Zuckerberg, reportedly interested in audio products, has appeared on Clubhouse to chat about augmented reality and virtual reality. Facebook is also known for cloning popular products. Facebook’s audio product is, added the sources, in an early stage of development. Continue reading Facebook Developing a Product to Rival Chat App Clubhouse