Will BuzzFeed lead a SPAC gold rush for smaller digital media players?

  • BuzzFeed’s acquisition of HuffPost has sparked speculation that BuzzFeed could try to buy other digital media companies, possibly by joining forces with a SPAC.
  • SPACs, or Special Purpose Acquisition Companies, armed with hundreds of millions of dollars are already evaluating a variety of digital media ventures.
  • SPACs are likely to eye media companies with name recognition, like Vice Media or Vox Media.
  • Visit Business Insider’s homepage for more stories.

Is Jonah Peretti’s BuzzFeed on a path to going public? 

At small private industry dinners from Los Angeles to New York, executives from Special Purpose Acquisition Companies, or SPACs, are flooding the zone.

Last week, Buzzfeed stunned COVID-cowed medialand with news it was acquiring digital newspaper HuffPost from Verizon and giving the phone giant a stake in a larger entity. Verizon agreed to invest in the new company, sparking speculation that Peretti would try to add other companies while remaining independent,

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Ripple’s XRP surges 70% as Bitcoin craze sends investors flocking to smaller cryptocurrencies



Thomas Trutschel/Photothek via Getty Images


© Thomas Trutschel/Photothek via Getty Images
Thomas Trutschel/Photothek via Getty Images

  • The price of Ripple’s XRP gained as much as 70% in hugely volatile trade on Tuesday, extending the broader cryptocurrency rally led by Bitcoin.
  • As institutional investors allocate massive amounts to Bitcoin as a hedge against inflation, other market participants are looking to alternative cryptocurrencies — or altcoins. 
  • Ripple designed XRP to perform speedy, less costly, and more scalable alternative transactions.
  • The token’s latest rally is also being driven by a central bank push to digitalize currencies.
  • Visit Business Insider’s homepage for more stories.

Ripple’s XRP surged as much as 70% on Tuesday as the third-biggest cryptocurrency extended a rally that has been kickstarted by mass interest in Bitcoin. 

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Ripple’s price has risen about four-fold since the start of the pandemic, making gains alongside Bitcoin — which rose 4% to a near all-time high of $19,241 on

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Apple cuts App Store payment fees for smaller developers, 30% to 15%

  • Apple on Wednesday announced it’s reducing the commission it takes on App Store in-app purchases, to 15% from 30%, for small developers starting January 1.
  • Apple’s price reduction will apply to developers that made up to $1 million in revenue over the past year.
  • Apple has been engaged in a bitter fight with major developers such as Spotify and Epic Games over its App Store commission. Its rules have attracted antitrust scrutiny.
  • Visit Business Insider’s homepage for more stories.

Apple just made a surprise move as it feuds with app developers.

Apple on Wednesday morning announced it was changing its App Store policies to halve the commission it takes from in-app payments for smaller developers.

The cut, to 15% from 30%, will apply to developers whose apps generated up to $1 million over the past year.

“We’re launching this program to help small-business owners write the next chapter of creativity

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Apple Halves Its App Store Fee for the Smaller Companies

Apple, facing growing antitrust scrutiny over what it charges other companies for access to its App Store, said on Wednesday that it would cut in half the fee it took from the smallest app developers.

Developers that brought in $1 million or less from their apps in the previous year will pay a 15 percent commission on those app sales starting next year, down from 30 percent, the company said.

The move, which will have little impact on Apple’s bottom line, is an abrupt change from the company’s public intransigence over its fees. For 12 years, the App Store has helped fuel Apple’s remarkable growth, and the company has appeared reluctant to do anything to tamper with it. Even when its fee policy emerged as the focus of antitrust complaints, Apple aggressively defended it.

Now Apple appears to have found a way to earn good will from thousands of developers

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