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Hey Adam,

Happy Friday 😎 and happy Earth Day! Now go out and celebrate by properly washing out your recyclables and sorting your thin plastic from your hard plastic.

If you missed last week’s action-packed newsletter, you can check it out here.
Business
duo
Mobile Signal
 
Duolingo (DUOL) is not yet officially scheduled to report earnings. Its IAP revenue has increased 47% YoY and 28% QoQ. Dive deeper into DUOL with a free trial of our Bloomberg Terminal App.
 
 
 
zig
App Acquisition
 
Robinhood is acquiring Ziglu, a cryptocurrency exchange in the UK. The app has been installed about 195k times since launch in June 2020.
Musings
sweatcoin@2x (3)-1
 
On a run

Sweatcoin app installs have been on quite the run since last October, hitting its highest daily numbers since January 2018. Sweatcoin pays users in sweatcoins for walking and users can use sweatcoins to purchase items from the company's marketplace. The January bump itself is due to seasonality but the run recently may be from anticipation of its new token, SWEAT, that is set to be released this quarter. Altifi reports, "Each user will be given a Sweat Wallet that will generate fees by enabling a suite of DeFi functions, such as the exchange of Sweat into other crypto, liquidity provision and staking." SWEAT tokens will get harder to mint over time.

 
 
 
weedmaps leafly@2x (1)
 
Weedmaps takes a hit

But not the good kind. This kind is to its market share. October through February, MAUs of Weedmaps declined 16% while Leafly's only declined on 6.3%. Since February, Weedmaps MAUs have grown by 1.3% while Leafly's have grown by 6.3%. For those of you wondering about Eaze, the much more talked about marijuana delivery app, it doesn't get as much action because it's only available in California.

 

Weedmaps and Leafly offer crowdsourced marijuana strain information, as well as facilitate delivery and pickup ordering from local dispensaries, but they do not handle the delivery themselves. It's like when you order through Grubhub but the restaurant sends its own delivery person. And yes, Leafly's CEO did ring the NASDAQ bell on 4/20.

Insights & Updates
Live shopping apps have best quarter ever, yet feel lackluster
 

Even though the top eight live shopping apps have grown installs 123% YoY in the first quarter, performance feels lackluster when considering the venture capital investments made into these companies.

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Ellipse 1 (3)
 
Adam Blacker
VP, Insights
 
ablacker@apptopia.com
@AdamBlacker25