CB Insights - Apple buys a fintech

Millennials vs. boomers.
$1M+ homes. Advertising's new landscape.

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March 24, 2022

Disrupting advertising

Hi there,

Here is this week in charts.

This Week In Charts

Source: Benedict Evans

Elephant in the room. Amazon’s ad business now does $31B a year — more than the ad revenue of YouTube and the global newspaper industry. As the world has shifted away from print to digital advertising, companies from Uber to Walmart are building out their own ad businesses in search of new (higher-margin) revenue and profit sources.

Source: CB Insights

The big apple. In 2022 so far, Apple already has two acquisitions on the books — compared to just one (Primephonic) last year. In February, Apple purchased AI Music and earlier this week it acquired open banking startup Credit Kudos, which uses bank data to score loan applicants. Apple’s latest acquisition points to its continued push into fintech, where it’s made inroads with its Apple Pay mobile wallet and Apple Card credit card.

Source: US Census Bureau

Plateau alert. Is e-commerce adoption flattening in the US? E-commerce’s share of total US retail sales dipped to 12.9% in Q4’21 from a record 15.7% in Q2’20 — signaling that the pandemic’s boost to e-commerce may level off. Lagging online grocery growth is partially to blame, despite investors’ enthusiasm for the space.

Source: Morning Consult

Generation crypto. One in 5 US adults reports owning crypto, according to a recent survey. Millennials are the most likely to say they own crypto at 36%, compared to just 6% of boomers. As crypto goes mainstream, $1 in every $4 of blockchain funding goes to exchanges and brokerages facilitating the buying and selling of crypto.

Source: Axios

Homeward bound. A record 8% of US homes are worth $1M or more today — nearly double the pre-pandemic share, according to Redfin data. Buyer competition combined with low mortgage rates and remote work sent home prices skyrocketing amid the pandemic. In Bay Area cities San Francisco and San Jose, nearly 9 out of 10 properties fall into the $1M+ category.

The +1

Connect the dots. This travesty is from a US Department of Energy report. Thank you, next.

I love you.

Anand
@asanwal

P.S. Catch our live breakdown of the corporate venture market on March 31. Save your spot here.

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