Friday's Headlines: Meta Was A Christmas Hit
Here were the biggest movers in the MyWallSt shortlist this week:
Moving Up ⬆️
Ford Motor Company (F) +17.8%
TrueCar (TRUE) +8.5%
Axos Financial (AX) +6.4%
Moving Down ⬇️
Upstart Holdings (UPST) -21.7%
Cloudflare (NET) -20.9%
Datadog (DDOG) -19.2%
Bill.com (BILL) -18.6%
Atlassian (TEAM) -17.7%
1. Meta’s (FB) Oculus app took the number one spot in Apple’s (AAPL) App Store and Google’s (GOOG) Play Store over the holidays and grossed a total of two million downloads — and that's just since Christmas Day. This exhibited a 517% increase week-over-week, and although downloads have dropped off significantly since we entered January, the figures are still currently 42% higher than before the holidays began. This is extremely promising for the company’s new strategy in building out its metaverse, as the timeframe for the downloads suggests a positive uptick in sales of the Meta Quest headset that is used with the app over the gifting period. Read the full story here.
2. Datadog (DDOG) has won over Amazon (AMZN) as a global strategic partner for observability and security, which expects to “provide deeper product alignment and go-to-market initiatives" that will benefit the customers of both companies. The latest deal will use Datadog’s services in application performance monitoring (APM) and customer application migration for Amazon Web Services. Users will be able to use ‘1-click integration’, which compiles data to track performance and behaviors from one neat dashboard. Matt Garman of AWS has said this partnership will “open up joint marketing and co-selling programs between Datadog and AWS that will bring new opportunities for customers across the globe”. Read the full press release here.
3. The New York Times (NYT) has acquired media company, The Athletic, in an all-cash deal valued at $550 million. The Athletic is a sports-centric media publisher that focuses on long-form journalism and in-depth analysis that aims to offer a one-stop-shop for sporting news and events. Founded in 2016, The Athletic uses a subscription model for its coverage which has since amassed over 1.2 million paying subscribers. Although it's been disclosed that The Athletic hasn't reached profitability yet, the company reported revenue of $65 million in 2021. The acquisition, combined with The New York Times' existing 8.3 million subscribers, will edge the company closer to its 10 million paid subscriptions target by attracting new and younger audiences. Read the full press release here.