THE NEWS WRAP: Investors hungry for Munchery as food delivery service closes $85 million funding round
Sunday, May 24, 2015/
Munchery, a San Francisco-based service for ordering quick microwavable meals, has closed an $85 million funding round, The Wall Street Journal reports.
The round, which was led by previous investors SherpaVentures and Menlo Ventures, values Munchery at around $300 million.
Munchery differs from competitors because it delivers its meals cold, making it easier to deliver a larger number of meals over a wider area.
Snapchat invests in shopping app Spring
Messaging app Snapchat is investing in the company which created shopping app Spring, Re/code reports.
The investment follows Snapchat’s move last November to introduce a money transfer feature. That feature requires users to connect a debit card to the app. As a consequence, building some form of shopping into the app seems like a natural progression.
Neither Snapchat nor Spring were willing to comment.
Tinder experimenting with music purchases
Matchmaking app Tinder has signed a new partnership with musician Zedd to promote his album, Adweek reports.
Tinder users that see his profile and swipe right will receive a link to download his new album. A Tinder spokesperson told Adweek the startup has been experimenting with similar partnerships with Twentieth Century Fox, E! and New York’s Urban Mudder event.
The Dow Jones Industrial Average is down 53.72 to 18,232.02. The Australian dollar is currently trading at US78 cents.