According to a 2020 eMarketer forecast, WhatsApps’s user base in India—currently the largest of any country—is expected to increase from 390.1 million users in 2020 to 507 million by 2024. If Indian regulators block the update, WhatsApp stands to lose the significant revenue opportunity this user base could generate through its new payments and ecommerce services.
Recent product launches, including livestream shopping on Facebook and shopping tags in Instagram’s Reels, show that ecommerce is still top of mind for those two platforms. Snapchat and Twitter have been more focused on performance marketing: Snapchat released a new suite of direct-response ad offerings, and Twitter rolled out revamped Carousel ads. WHAT’S IN THIS REPORT?
The news: India-based Groww is in talks to raise $250 million, which would push its valuation to $3 billion, up from $1 billion in April, per TechCrunch. What does it do? Groww offers users access to stocks, mutual funds, and gold. It charges INR 20 ($0.27) or 0.05% per executed order, depending on which is cheaper.