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Business
Mobile Signal
Nike (NKE) is scheduled to report earnings on 6/27. User Sessions of its suite of mobile apps are down 6.9% YoY and down 0.7% QoQ. Dive deeper into NKE with a free trial of our Bloomberg Terminal App.
App Acquisition
Buggy has acquired Ninja Delivery, an 'ultra-fast' Canadian grocery delivery startup. The app has been installed about 12k times since launch in December 2021.
App Acquisition
FTX will acquire Bitvo, a Canadian crypto trading platform. The app has been installed about 10k times since launch in July 2018.
New installs of parking apps are hitting record highs globally and in the United States. It's a good situation (I think) where old tech gives way to convenience. Parking lots and cities are realizing it's easier to manage things digitally, which is making way for these partnerships to spread, inducing downloads from drivers. From the driver perspective, it's nice to be able to pay with a credit card, see how much time is left on the meter from your phone, and then add more time if needed. Some will also reserve a space for you as well, negating the joy of driving around in circles and being late. There's no dominant players in this market but ParkMobile does own the largest share of global downloads over the past two years, at 21.6%.
I first heard of Crocs in high school but apparently they've been around since 2002. In high school I assumed they would be a fad because I thought they looked awful (not as awful as anything Yeezy or Drew have created), but people speak of their comfort they way they speak about the comfort of Uggs. Crocs finally got into the mobile game in November 2021 and has been, you know, doing decently well. Not scratching the surface of Nike or anything like that but getting more action than brands like Warby Parker, Under Armour, Finish Line, Gap and Stadium Goods. Why use the app? Push notifications for sales, style tips, how-to videos and a virtual reality (the app does say VR and not AR, but I have not used it) feature to try on new Crocs at home.
Among the top grocery store apps, user sessions were up 77% year-over-year in May, and reviews mentioning the word "coupon" shot up 75% from April. User sessions began to rise concurrently with food prices since Q3 2021.
Even with gas prices rising, people have the travel bug. New installs and monthly active users of car rental apps in the U.S. hit all-time highs in May.