Wikipedia founder Jimmy Wales has quietly launched a subscription-based social network called WT Social. The network was created to combat ad-funded social-networking models such as Facebook and Twitter, and aims to establish self-sustaining communities built around niche subjects where users can edit and delete content posted by other members. The network is a reboot of WikiTribune, the initial site launched in 2017 which gained little traction.
Apple has removed all vaping-related applications from the iOS App Store in response to health and safety concerns associated with electronic cigarette use. The 181 apps providing news and information about vaping and e-cigarette products are no-longer available for download, but will remain functional for existing users. Apple stopped accepting new apps promoting vaping in June when the CDC began reporting fatal e-cigarette-related lung illnesses.
Amazon Web Services’ re:Invent 2019 Conference will take place in Las Vegas from December 2nd to the 6th. For those who cannot attend, the event will livestream four keynotes from AWS executives including CEO Andy Jassy, covering the latest advancements in AWS products, services and cloud infrastructure. In addition, the event will offer online streaming of new product launches and exclusive Q&A sessions through Amazon Launchpad.
PayPal, the online payments system, recently announced they will acquire shopping and rewards platform, Honey, for $4 billion. The mobile app and deal-finding browser add-on will be Paypal’s largest acquisition to date. The company is acquiring Honey, which has 17 million active users, in an effort to target early-stage shoppers by becoming active of the deal-discovery process.
Kylie Cosmetics sold a majority stake valued at $600 million to beauty giant, Coty. Sales by the KC company reached $360 million in 2018. Coty currently owns brands including Max Factory and Hugo Boss, and will now own 51% stake in Kylie cosmetics.
New in FE exclusive listings, this week, we have a rare Amazon FBA business in the Air Filtration niche. Listed at $10,726,000 (plus inventory), this industry-leading business provides home and air filtration systems and purification products, with a focus on impeccable quality and affordability. This business is run by a high-performing team capable of staying on post-sale and has achieved an impressive CAGR of c.252.3% over the 2016 to 2018 period. with c.6,700 product ratings and a 4.9-star Amazon rating, this listing offers a unique opportunity to acquire a market-leading Amazon FBA business in a $7.3B industry. If you are interested in this business, please follow the link above to request a prospectus.
In events news, FE International Founder, Thomas Smale, had the chance to attend Salesforce’s 2019 Dreamforce conference in San Francisco this week. At the tech conference, Thomas got to connect with executives and investors from all over the world to discuss the latest trends and advancements in the SaaS industry. Coming up on December 3rd through the 5th, Thomas and FE International CEO, Ismael Wrixen, will be in Sydney for SaaStock Australasia 2019. If you will be in the area and would like to set up a meeting with Thomas or Ismael, please feel free to get in touch.
Finally, SaaS Mag has announced its final call for subscription submissions. Don’t miss your opportunity to get the latest edition delivered directly to your door for free and visit the SaaS Mag website to subscribe to the magazine today.
Continue reading below for more on Wikipedia, AWS, Apple, PayPal, and Coty!
- Market-leading custom brand in the air filtration and purification niche
- Rapid year-over-year growth with revenues reaching an impressive c.252.3% CAGR over the period 2016 to 2018
- Stellar product reviews with a 99% positive seller feedback rating and a near perfect 4.9 star rating on Amazon
- Diverse range of affordable, high-quality products, helping fuel a 17% repeat revenue rate
- High-performing team capable of running the day-to-day staying on post sale
Yearly Revenue: $9,964,000
Yearly Net Income: $2,333,000
Asking price: $10,726,000 (plus inventory)
- Popular brand and clear value proposition in the highly profitable CRM and lead management niche
- Seamless integrations with several widely-used third-party software providers
- Steady growth with MRR climbing at a c.5.7% CMGR over the LTM
- Hundreds of clients with a high ARPU and LTV
- Focus on process and automation, allowing a new owner plenty of resources to invest in growth
Yearly net profit: $416,000
Asking price: $1,877,000
- Clear value proposition and firm foothold in Shopify’s ever-expanding ecosystem
- Rapid revenue growth with revenues rising at a c.55.7% CAGR over the period 2016 to (e)2019
- Stellar user reception with a product rating of over 4.8 stars
- Vast user base consisting of thousands of users
Yearly net profit: $269,000
Asking price: $1,167,000
In the News…
Wikipedia Founder Launches Subscription-Based Social Network
Wikipedia co-founder Jimmy Wales has introduced a new social network that is designed to be a resource of quality content that combats “fake news”. The new social network is a reboot of WikiTribune, and has been renamed WT:Social. Wales reported the network has attracted nearly 25,000 members as of November 6, and states it now has 78,000 members who are at least intrigued by the new social networking concept. The site does not offer ads but instead, asks users to pay a low subscription fee.
Apple Removes All Vaping-Related Apps
As concern grows the health and safety of e-cigarettes, Apple has eliminated 181 vaping-related apps from the App Store as stated by Axios. Removal of the apps comes after 42 individuals were reported by the CDC to have died from vaping-related lung illness. Apple has never permitted vape cartridges to be sold directly from iOS apps. The applications that were terminated offered functions such as temperature and lighting controls for vape pens, games, and vaping related news and information.
AWS Set to Livestream re:Invent 2019 Keynotes
Amazon Web Services’ re:Invent 2019 Conference will take place in Las Vegas in early December. For those who cannot attend, AWS will livestream keynote presentations from the venue. The livestream will feature four presentations from AWS executives including CEO Andy Jassy and CTO Dr. Werner Vogels. Viewers can tune-in to the latest advancements in the company’s products, services and cloud infrastructure from the comfort of their own homes. Amazon Web Services will also offer streaming of new product launches and exclusive Q&A sessions through Amazon Launchpad. One click-click sign up to access the streaming event is available to AWS members.
PayPal to Acquire Honey for $4 Billion
PayPal announced it has entered an agreement to acquire Honey Science Corporation, for $4 billion, mostly cash. This acquisition is PayPal’s largest to date, and will offer the payments giant a an opportunity to target customers early in the shopping journey by becoming a part of the deal delivery process. PayPal made a statement saying, “What’s exciting is that we can take the functionality Honey now offers — which is product discovery, price tracking, offers and loyalty — and build that into the PayPal and Venmo experiences.”
Coty Buys 51% Stake in Kylie Cosmetics
Kylie Jenner is set to sell the majority of her company, Kylie Cosmetics, for a total of $600 million (£463 million). Kylie Cosmetics and Kylie Skin, acquired and controlled by beauty enterprise, Coty. Kylie repotrted she is developing the brand to become a “international beauty powerhouse”. According to Forbes, the company earned $360 million in sales in 2018, allowing her to become youngest-ever self-made billionaire. Cody Chairman stated Kylie is a “modern-day icon, with an incredible sense of the beauty consumer”.