Facebook logo is seen displayed on a phone screen in photo taken in Poland on November 29, 2020.
Jakub Porzycki/NurPhoto via Getty Images
- Facebook may be entering a burgeoning newsletter software space by the summer, according to The New York Times.
- The Times reported that Facebook’s initiative would work symbiotically with the social media platform.
- The service, which may launch in the summer, would be set to compete with industry leader Substack.
- Visit Business Insider’s homepage for more stories.
Facebook is gearing up to be a major player in the newsletter subscription service world, according to The New York Times.
Three sources familiar with the company’s move told The Times that the social media company planned to plunge into a burgeoning space currently dominated by platforms like Substack around the summer.
The Times reported that Facebook’s initiative would work symbiotically with the social media platform, allowing writers to grow followings on Facebook and build email lists, with paid subscription tools available to allow journalists to profit.
Facebook’s new venture would be attached to the New York-based Facebook Journalism Project, and according to The Times, Facebook chief executive Mark Zuckerberg is green-lighting the initiative and called for a team of engineers to build the platform.
“We want to do more to support the independent journalists and experts who are building businesses and audiences online,” Campbell Brown, vice president for global news partnerships at Facebook told The Times. “We’re exploring ways to help them benefit from the news products we’ve built, like Facebook News and subscriptions, while also building new tools to complement what journalists already find useful.”
Substack currently leads the field, with a model that enables freelancers and independent writers to publish either paid or free newsletters to their followers via email, taking a cut from the writer’s sales. The Times also reported that this week, Twitter purchased a newsletter software called Revue.
After developing News Tab, which is a vertical within Facebook which shows users news stories from outlets like The New York Times, The Washington Post, and The Wall Street Journal, the Times reported that this effort served to expand Facebook’s infusion of accurate news amidst misinformation that thrives on the platform.
During the pandemic, Facebook announced a $100 million donation to local news publishers. The Times reported that the new tool for freelancers may launch in the summer, but is yet to be fully confirmed.
A brawl outside Shake Shack in Detroit involving up to a dozen young girls was caught on camera
Shake Shack said it is investigating the incident. Noam Galai/Getty Images A large group of girls were captured fighting outside a Detroit bra…
Shake Shack said it is investigating the incident.
Noam Galai/Getty Images
- A large group of girls were captured fighting outside a Detroit branch of burger chain Shake Shack.
- The altercation began inside and continued outside in the parking lot, according to Fox 2.
- Shake Shack told the outlet it was disturbed by what happened and has launched an investigation.
- See more stories on Insider’s business page.
A mass brawl that apparently began inside a Shake Shack branch and spilled out into the parking lot was captured on video.
The altercation, which witnesses say fizzled out after a few minutes, involved a group of 10-12 teenage girls, according to Fox 2.
A witness also suggested that the girls may have been employed there, due to the logo on their shirts, although Insider has been unable to confirm this. Shake Shack did not immediately respond to a request for comment.
Witness Jason Taylor told Fox 2: “I’m looking and I see the green burger (logo) on their shirts and I said they’re the Shake Shack girls,” of seeing the group of women brawling in a parking lot outside of the burger chain. “I told my cousin, ‘No Shake Shack today, buddy.'”
Taylor also told the outlet: “A girl flew over the chain with a juice bottle and was hitting the girl in the head with it. I didn’t try to break up anything because it’s Detroit, anything can happen.”
Detroit police said no police report was filed, according to Fox 2.
The fast-food chain told FOX 2 it is “disturbed by what happened and are launching an investigation” and that could mean disciplinary action, adding “safety for customers and staff is number 1.”
There have been several reports of violence at other fast-food premises in recent weeks.
In June, Memphis police reportedly arrested two customers who started a shooting in Burger King because their chicken sandwich had too much hot sauce, as Insider’s Grace Dean reported.
XED Beverage Company Raises $4.5 Million in Seed Round, backed by industry leaders
NEW YORK, July 12, 2021 /PRNewswire/ — XED Beverage Company (XED), the new future-focused beverage company, has announced the completion of its s…
NEW YORK, July 12, 2021 /PRNewswire/ — XED Beverage Company (XED), the new future-focused beverage company, has announced the completion of its second seed round of funding, totaling investments of $4.5 million raised just this past year. This funding will be used to grow XED’s flagship brand SESH and launch XED’s second disruptive brand, which is currently in stealth mode.
Founded by Zeke Bronfman and Nate Medow, best friends and former college roommates, XED was conceived as the antidote to what the two young entrepreneurs identified as lacking in the alcohol industry. Bronfman, carrying on his family legacy of spirits titans Samuel Bronfman and Edgar Bronfman Sr. of Seagram’s fame, developed a refined taste for beverages early on and yearned to craft a beverage with authentic and robust flavor. Medow, a star athlete and Type 1 diabetic, needed alternatives to beer and cocktails without the sugar, carbs or calories. Nate and Zeke realized there was nothing on the market that combined the rich flavor they wanted in the better for you format they needed. So, they started mixing in their dorm room until they created delicious cocktails with zero sugar and all-natural ingredients. SESH: Cocktail Meets Seltzer was born, and XED Beverages began to build its platform to launch brands.
Additional investors include:
- Bob Hurst, Former Vice Chair & Head of Investment Banking at Goldman Sachs
- Edgar Bronfman, Former CEO of Seagram
- Ilan Sobel, Founder and COO of WeissBeerger
- Strauss Zelnick, Founder of Zelnick Media Capital, CEO of Take Two Interactive and Former CEO of BMG Entertainment
Randi Zuckerberg has also joined Edgar Bronfman, Strauss Zelnick, Barbara Bernstein, Dan Schwab, Adam Zoia, Steven Edelson, Susan Greene and several others on XED’s Board of Advisors. SESH is currently on shelves in New York, New Jersey, Illinois and Ohio, and is also available direct-to-consumer across 36 states at www.drinksesh.com.
Additionally, XED Beverage Company has also expanded its Board of Directors, which now includes Jared Kash, Managing Partner of Surround Ventures, and DisPact Ventures’ Andrew Merinoff, along with Bronfman and Medow.
“We are incredibly honored to receive the support of so many industry leaders,” say Zeke Bronfman and Nate Medow. “XED is well-positioned to build a disruptive portfolio of brands. By creating next generation products that connect with our consumers across different occasions, we are inspired to ensure that people never have to compromise between great flavor and better for you ingredients.”
Media Contact: Meghan Ianiro | email@example.com | 551 200 1126
SOURCE XED Beverages
Markets Insider and Business Insider Editorial Teams were not involved in the creation of this post.
Morningstar has handpicked 10 cheap gems from the red-hot ETF market, which is on pace for another record year of inflows, including 4 it says are seriously undervalued.
Reuters Research firm Morningstar says exchange-traded funds "look primed for another banner year." ETFs have added $469 billion in i…
- Research firm Morningstar says exchange-traded funds “look primed for another banner year.”
- ETFs have added $469 billion in inflows so far in 2021 and will likely overtake last year’s record $500 billion.
Morningstar’s 10 cheap ETF picks concentrate on energy and overseas funds.
- See more stories on Insider’s business page.
Exchange-traded funds (ETFs) are set for a second straight record-breaking year of inflows, having received $469 billion of investment over the past six months, according to fund research firm Morningstar.
A strong June saw ETFs add $74 billion in inflows, with last year’s headline-grabbing success story ARK Invest pulling in $1.1 billion to return to the top 10 providers list.
“Exchange-traded funds look primed for another banner year, as investors continued to pour in new money last month,” Morningstar analysts Ryan Jackson and Ben Johnsons said in a July 1 research note. “The $500 billion that investors dumped into ETFs last year set an annual record, but that’s likely to be short-lived. ETF inflows are on pace to blow past that figure, perhaps as soon as next month.”
An ETF tracks a particular index, sector, or commodity. Like regular stocks, ETFs are bought and sold on stock exchanges.
Demand for these types of funds have surged since the start of the coronavirus pandemic in March 2020, with investors betting on macroeconomic recovery and both value and growth stocks competing to offer the best returns.
Morningstar analysts compiled a list of 10 undervalued ETFs by dividing the fund’s current price by what they calculated to be its fair value. The price/fair value ratio can be used to calculate which cheap ETFs have them most upside for investors.
Four ETFs had a price/fair value ratio of less than or equal to 0.8, implying that they could be undervalued by more than 20%.
Those 4 funds – the Global X MSCI China Financials ETF, the iShares US Oil Equipment & Services ETF, the VanEck Vectors Oil Services ETF, and the Invesco Dynamic Oil & Gas Services ETF – symbolize the two key themes of Morningstar’s research note. Jackson and Johnson argue that energy funds and foreign stock ETFs are most likely to deliver returns for investors.
Energy funds have enjoyed strong returns so far in 2021, with the aforementioned iShares US oil ETF posting a year-to-date return of 62%. However, Morningstar analysts say that investors are still undervaluing the sector. WTI crude oil prices have risen by 55% in 2021, with the S&P 500 recording gains of 16%.
“This fund – and its energy peers – remain considerably undervalued despite a torrential first half of the year,” Jackson and Johnson said. They listed the SPDR S&P Oil & Gas Equipment & Services ETF as another cheap, undervalued energy fund.
Morningstar also highlighted several foreign ETFs, with a particular focus on China. Global X’s China Energy and China Real Estate ETFs joined the Financials ETF on the list of undervalued funds. The China Energy ETF posted the strongest figures in June, delivering a 4.31% return for investors.
“Investors hunting comparably cheap valuations in a more-diversified portfolio likely need to look overseas,” Jackson and Johnson said. “Foreign stock ETFs dominated the ranks of the cheapest broad-based ETFs at June’s end. Most of these funds zero in on international stocks that look cheap relative to their dividends or other fundamental measures of value.”
Alongside the three Global X China ETFs, they listed the Van Eck Vectors Egypt ETF, which is up 0.28% this year, the Invesco RAFI Strategic Emerging Markets ETF, which has gained 13%, and the Davis Select Worldwide ETF, which is up 10.7%, as undervalued funds set to surge in the second half of 2021.
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