THE NEWS WRAP: Snapchat wants to broadcast live sporting matches

Snapchat is negotiating deals with American major sports leagues and television networks to broadcast live sport.

 

The mobile media startup is planning to show live sport on its ‘Our Story’ feature with the NCAA (National Collegiate Athletic Association) Final Four, Digiday reports.

 

Snapchat is valued at around $US19 billion.

 

Doubt hangs over entrepreneur’s popular food app

 

Apple is facing a backlash from customers who bought Belle Gibson’s top-rating food app The Whole Pantry after it was revealed the founder failed to donate money she promised to charities.

 

Fairfax reports the tech giant flew the controversial entrepreneur to the US to work on developing an app for the Apple Watch in secret.

 

Dozens of the iPhone app’s customers have taken to social media to demand a refund from Apple, and expressed concern the app may be based on embellishments or lies.

 

Zuora raises $US115m ahead of international expansion

 

Subscriptions software startup Zuora has raised $US115 million ($A151m) in order to fast-track the company’s international expansion.

 

The latest round was led by new investors Wellington Management Company LLP, Blackrock Inc and Premji and Passport Capital – bringing the total amount of funds raised by the startup to $US250 million.

 

Co-founder and chief executive Tien Tzuo said in a statement Zuora is helping companies tap into the opportunities that subscription-based business models can offer.

 

“The subscription economy is permeating every industry – entertainment, technology, healthcare, manufacturing with IoT, consumer products, everything,” he says.

 

“Customers are now subscribers, and the new way to acquire, bill and nurture customers is through monetising subscriber relationships. Our funding partners understand that this shift is creating a multibillion dollar opportunity for a new category of software that sits between traditional CRM and ERP.”

 

Overnight

 

The Dow Jones Industrial Average is down 27.55 points, falling 0.16% overnight to 17,635.39. The Aussie dollar is currently trading at around 75.94 US cents.

 

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