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Home Blog Page 6237

Discord Raises $100m to Expand its Community Beyond Gaming

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Discord, the gaming platform that is gradually turning into a communication hub, has raised $100 million to expand its function and services.

Launched in 2015, Discord has grown to attract millions of users who find its peculiar features including reliability, anonymity and focus on voice over video captivating.

Discord allows users to join a voice call at any time and type in various channels to communicate with other gamers. They can sit in a call and listen to music, mute themselves so they can’t hear anyone else when they don’t want to. People can appear online only to friends without speaking.

The platform has witnessed massive growth during the coronavirus pandemic, increasing its monthly active users to more than 100 million, a 47% increase since February. And it is expanding its services in countries where it had failed to flourish in the past, including the United States, Spain, France and Italy.

Discord uses Nitro, its subscription service that unlocks the use of custom emoji on the platform and livestreams at a higher resolution, to generate revenue. In 2020, it set to have $120 million in revenue, an addition of $50 million compared to last year’s $70 million earning. The platform is boasting a $3.5 billion valuation according to Forbes.

Discord has raised a total of $379.3 million including the new funding it announced last week.

“This is just the beginning of Discord’s journey to be a place for all of your communities to talk and build relationships. We’re around for the long haul. Many of you have already signed up for Nitro, which has taken off over the last couple of years, and our recent $100 million in additional funding will help accelerate our investment in the community, new features, and the company,” Discord blog post said.

As of 2019, about 30% of Discord users don’t use it primarily for gaming. It has overtime become a hub of interaction for many; parents, teachers, fashion enthusiasts, Korean pop music fans and a host of others use it to connect. And that poses a challenge of diversification to the platform as its audience grows.

Users spend 4 billion minutes in conversation daily across 6.7 million active servers. That means a weekly 26 billion server conversations across 13.5 million active servers. They are more talkers than gamers, and Discord knows that it is time for a change.

“As you have used Discord for more and more than playing games, our branding didn’t keep up, and the way we talked about ourselves sent the wrong signal to the world, making it harder for you to bring your broader community on Discord.

“Today, we’re inviting the world in to reveal what we’ve been working on, all designed to make it easier for you to invite your communities and friends to your Discord home. And this is just the beginning,” the post said.

Discord has complex features that throw new users off unlike other video platforms with fewer features and easy to navigate buttons. The CEO Jason Citron acknowledged the complexity saying: “We know that the first few interactions someone has with our service could be intimidating because Discord is complex with many features.”

The new round of funding means the platform will work to fix a lot of things, especially making more room for those who use the platform for communications.

“We’ve streamlined the new user onboarding experience and added server video so it’s easier than ever to get together,” Citron said “There are new server templates that make it super easy to help your friends create new servers. We fixed hundreds of bugs, increased voice & video capacity by 200 percent, and continue to invest in reliability and performance as our top priority.

“We’ve also made the jokes and references within the app less gaming specific to make sure everyone can take part in the fun and make Discord more welcoming. And we are launching a new website with a new tagline: Your place to talk.”

Citron said they have added things that are prompts and almost like conceptual road signs to help users understand some features that seem complex.

The platform doesn’t require users to verify their identities and also allows them to create private servers that can’t be searched. These features are believed to have made Discord a darling choice among white supremacists who have used it to host rallies promoting their ideology. Citron said the new redesign will involve rules that will rid the platform of hate and discrimination.

Traffic-geddon To Begin In Lagos As Nigeria Closes 3rd Mainland Bridge for 6 Months

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The Nigerian government plans to close the 3rd Mainland Bridge for necessary repairs. The plan is to complete the work within six months!. Yes, 6 months. Channels TV reports that the shut down will begin on July 24. Call it a Traffic-geddon in Lagos. Lagosians, this 2020 na wa ohh!

The Federal Government is set to shut the Third Mainland Bridge for six months starting from Friday, July 24.

This was confirmed by the Federal Controller of Works in Lagos, Olukayode Popoola.

According to him, consultations are ongoing for another phase of repair works to begin on the 11.8km bridge.

Popoola explained that the work will commence on the outward mainland section of the bridge, and the ministry is working with relevant agencies to perfect traffic during the period.

The bridge has gone through a series of repair works and was last shut in August 2018 for a three-day investigative maintenance check.

There have also been reports of some worn-out expansion joints on the structure, raising concerns over the state of the bridge.

This development will force motorists in Lagos who ply the bridge to begin making arrangements for alternative routes.

6-Time Microsoft MVP To Lead Session on Financial Modeling & Tools at Tekedia Mini-MBA

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He is a Certified Advanced Financial Modeler (AFM), a 6-time Microsoft awarded Most Valuable Professional (MVP),a MCSA BI Reporting expert, and a Microsoft Certified Trainer (MCT).  He is a Financial Modelling and Valuation expert at California-based TopTal whose client base includes many fortune 500 companies. Michael Olafusi is the Lead Consultant at UrBizEdge and a Financial Analyst Fellow at Brightmore Capital where he analyses financial statements of prospective investments, reviews business plans, does financial modelling of projections and growth plans, and models valuation of potential investments (asset value, comparables, DCF, etc.), etc.

Financial modeling is a friction we have noticed that exists for some members of our Tekedia Mini-MBA. That explains why the Week 1 Challenge Assignments was stressful for some. To fix that, we have added a new session in Tekedia Mini-MBA: Building Your Business Financial Models (templates included). Michael will lead that session and provide templates to help our members on financial modeling. Michael graduated from FUT Akure and holds an MBA from University of Nicosia.

Join Michael in the class; REGISTER today.

*Tekedia edition 2 class will get this session; we need to find a way to add it later.

https://www.tekedia.com/mini-mba-3/

MultiChoice (DStv, GOtv) Challengers and the MTN Factor in Nigeria

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MultiChoice, the brand owner of DStv, has a problem in Nigeria. Looking at the comments on Tekedia, it is evident that Nigerians do not admire this brand. If MultiChoice wants to thrive, it needs to fix that image dislocation. Yes, you cannot be the messenger of entertainment which most do not like. In various combinations of words, the citizens are clear: go home DStv; we do not like monopoly. All efforts to make market sense to the members did not work. On pure market analysis, this company relies on a raw material (TV rights), and the price of this product has been increasing even when the Nigerian naira has been losing value, and consequently would need to raise rates to stay in business. But many do not care!

Without any doubt, the commenters made it clear: MultiChoice, we do not believe you. Yes, we do not think you are operating at a loss. The certainty of that conclusion could not be mistaken when some write, “Let them go!” Of course, MultiChoice is not leaving Nigeria because the future of MultiChoice is tethered in Nigeria. Its recent deal with Netflix and Amazon Prime must have been built on Africa’s largest economy and the most populous one.

Sample of comments

Almost everything in Nigeria works in opposite direction, so while governments are traditionally there to protect the poor and vulnerable groups, Nigerian government is more concerned with making sure that the rich are very comfortable. How many people subscribe to DSTv and its constituents in Nigeria? Less than six million, such a luxury! Yet, it’s the sort of things our government is even concerned about.

Well, since we live in strange land, the same way the government borrowed five hundred million dollars to make NTA digital, amidst depleted revenue, it can as well bankroll NTA to purchase the sports rights! You cannot beat Nigeria when it comes to doing things that are absurd.

The same way DISCOs cannot increase energy bill, even when naira has tanked, to serve Nigerians, you must be a magician; no wonder nothing works.

We want all the best things life can offer, yet no one sits down to calculate the cost, just keep the price the same, irrespective of input costs.

Our education is faulty, it failed to liberate minds here.

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I guess you are one of the rich Nigerians enjoying and subscribing to the dstv repeated and outdated contents, it’s not wrong if the government tries to regulate their activity, do you remember how many indigenous pay tv that has come and died bcoss of the so called company by acquiring exclusive right to contents which we pay hard to watch, do you remember some year back the amount of dollars they repatriated from Nigeria to their country of birth some years back?, Now talk of discos how many dollars has been spent in Nigeria on electricity since the days of PDP in Nigeria to date, common 18 hrs light we don’t have, but you want price to always increase when we don’t have value for the money hard earned and paid to these discos for services we hardly enjoy, guy I think you have a rethink and let’s support what the government has done in this regards.

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At the time DSTV was making huge profit in Nigeria did they complain?
That monopoly they have been enjoying has to stop. We can’t continue this way, is this how they pay in South Africa?
Let them go!

That takes me to potential MultiChoice challengers in Nigeria. First, there is none. IROKOtv has stalled for such a combat. TStv experienced an effervescence and disappeared. Largely, the only challenger is online streaming from foreign solution providers. Unfortunately, streaming online is not that cheap. It has two cost elements – the subscription to the player and the broadband cost. The latter is a bigger cost element since not many people in Nigeria can afford to watch hours of videos online. The cost of that broadband in Nigeria for ten games can pay for whatever DStv charges for a month!

Yet, for everything happening, there is one major problem DStv has to overcome: MTN Nigeria. Many members on Tekedia and LinkedIn connected to that. It has to do with MTN Nigeria per-minute billing at the early phase of its product in Nigeria. Then, MTN claimed that per-second billing was impossible, meaning that MTN  charged Nigerians the same for a 59 second call as for a second one. But with the arrival of Gloworld and its per-second billing, MTN quickly released the same feature it said was not possible. That pendulum is why many do not believe DStv since MultiChoice is South African, like MTN. Sounds familiar with DStv’s lack of pay per view in Nigeria? Simply, DStv is lying like MTN, they reason!

Another South African company, MTN claimed it is not possible to implement bill by the seconds, akin to pay per view. They made threats of network crash, dollars needed for equipment upgrade and good excuses. Recall that their exclusivity expired. GLO launched their service with billing by second. MTN almost immediately implemented the same billing model, to remain relevant. DSTV are free to leave Nigerian if the cannot follow Nigeria’s business model (Tekedia comment)

 

The MultiChoice (DStv, GOtv) BIGGEST Survival Game in Nigeria

The YouTube TV’s Price Hike

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A picture shows a You Tube logo on December 4, 2012 during LeWeb Paris 2012 in Saint-Denis near Paris. Le Web is Europe's largest tech conference, bringing together the entrepreneurs, leaders and influencers who shape the future of the internet. AFP PHOTO ERIC PIERMONT (Photo credit should read ERIC PIERMONT/AFP/Getty Images)

YouTube TV, Google’s kid company, announced Tuesday that it is raising its TV subscription from $50 to $64.99 a month, raising concern about the sustainability of the platform amid COVID-19 woes.

YouTube TV has since 2017 when it was launched, became a darling to a multitude of viewers. Over 2 million have signed up to the network that provides different TV channels for online streamers.

YouTube TV’s vice president of Product Management Christian Oestlien said that after three years, following feedback from subscribers, the company has decided to increase its number of channels as well as the subscription cost.

“As we continue to evaluate how to provide the best possible services and content for you, our membership price will be 64.99. This new price takes effect, June 30, for new members. Existing subscribers will see these changes reflected in their subsequent billing cycle on or after July 30.

“We don’t take these decisions lightly, and realize how hard this is for our members. That said, this new price reflects the rising cost of content and we also believe it reflects the complete value of YouTube TV, from our breadth of content to the features that are changing how we watch TV.

“YouTube TV is the only streaming service that includes a DVR with unlimited storage space, plus 6 accounts per household each with its own unique recommendations, and 3 concurrent streams. It’s all included in the base cost of YouTube TV, with no contract and no hidden fees, he explained.

The increase has come as a shock to YouTube TV subscribers, given that the price was increased by $10 last April. But it defended the increase saying that it’s only the streaming service that includes a DVR with unlimited storage space and allows six accounts per household.

Other additions that were used to justify the price increase include the ViacomCBS, BET, CMT, Comedy Central, TV Land, VH1 and Paramount Network brands that YouTube TV announced in May that it will be adding to its collection of channels.

YouTube TV base plan offers more than 85 TV channels over the internet to streamers. In addition to the channels, there are recently introduced Cinemax and HBO Max, which includes all of HBO plus a robust library of content and original series, to top its list of add-on channels.

YouTube TV listed a host of new features it is planning to introduce to the family soon, including the ‘jump to the news that matters most to you’ that allows users to jump to specific news clips within the complete recording. The streaming company said it will be made available on mobile devices in the coming weeks.

The price hike has made YouTube the most expensive of the cable TV streaming alternative services.

Other TV streaming platforms are notably lowering their prices. AT&T reduced its price to $55 monthly, and Hulu with Live TV is $54.99. Sling TV is the lowest, offering streams at $30 per month for its orange or blue packages, or $45 both, giving a $15 discount.

While these ones appear cheaper, it is notable that they offer fewer channels. For instance, Philo is cheaper than the rest with a $20 monthly offer for streams, but it has no news and sports channels.

It seems that whenever a streaming TV adds more channels, viewers should expect an increase.

Many of YouTube TV subscribers are understandably disappointed in the increase, given that COVID-19 has disrupted earnings globally, and most of them were not expecting a hike at this time.

New York Times Shira Ovide said the virtual cable services are becoming more expensive because “Netflix and most other internet video services grafted existing business approaches or behaviors onto the web. And they’re also buying programming in many cases from the same companies that sell stuff for conventional TV channels and theaters.”

But there is more to it than that in the case of YouTube TV. COVID-19 ushered in a new era of crumbling ad sales that left social media platforms strategizing for survival. In the wake of the pandemic when lockdowns confined many at home, internet TVs offered an escape from boredom.

It appears that YouTube TV is acting from a chapter of an opportunistic playbook. Though the platform said users can cancel if they don’t buy the price increase, they know better, that given the circumstances, many will choose the $15 increment over boredom.