Lemon8 is the Second Most Downloaded Lifestyle App in the U.S.

693              

Chinese tech giant ByteDance is pushing another social media app Lemon8 in the U.S. This app has the combined features of Pinterest and Instagram, so it has gained popularity quickly. As per analysts forecast Lemon8 has jumped 693 positions to hold the second most downloaded lifestyle app in the U.S. 

37%  

Piper Sandler conducted a survey and revealed that TikTok at 37%, Snapchat at 27%, and Instagram at 23% stood at the top places for US teens as the favorite social media platforms.  

10 M  

Snap announced that now Snapchat+ has 3 million subscribers and the goal is to reach 10 million subscribers by end of Q4 2023 which would generate $350 million in revenue. The new launch MyAI, Snap’s generative AI chatbot will be soon available for its users for free.   

50%      

Pinterest CEO Bill Ready said that 50% of its users said it is a place to shop. The company wants to integrating AI and shoppable media features in Pinterest which allows users to discover new brands and make purchases without leaving the app. 

16%  

As per Yahoo predictions, TSMC sales would drop to 16% in Q2, as TSMC is struggling with electronics demand and a potential global recession in 2023. The company wants to build various chip factories in the US, Japan, and Europe and invested $60.4 billion in a new Taiwanese factory. 

$45.15 B  

Retail media ad spend is rapidly increasing than the digital ad market. As per eMarketers forecast US retail media ad spend will pull up by $45.15 billion by 2023 which 20% rise compared to 2022. This Growth will continue to hike each year through 2027 to reach $106.12 billion. 

$449 M   

Samsung reported a profit of $449 million in Q1and this was the least profit since the first quarter of 2009. The weakest earnings are due to price drops for memory chips from the past few months and Samsung is the world’s largest producer of such semiconductors.